Showing 71 - 80 of 1,043
In this paper we derive the standard error of a price index when both prices and tastes or technology are treated as stochastic. Changing tastes or technology are a reason for the weights in the price index to be treated as stochastic, which can interact with the stochastic prices themselves. We...
Persistent link: https://www.econbiz.de/10012468497
This paper revisits the empirical evidence on the relationship between economic integration and economic growth. First, we present an updated dataset of openness indicators and trade liberalization dates for a wide cross-section of countries in the 1990s. Second, we extend the Sachs and Warner...
Persistent link: https://www.econbiz.de/10012468542
From 1993 to 1997, GDP per capita in Vietnam grew by between 6 and 7 percent annually. Child labor declined by 28 percent over this period. Using a simple, nonparametric decomposition, I investigate the relationship between improvements in per capita expenditure and child labor with a panel...
Persistent link: https://www.econbiz.de/10012468560
Fears that globalization necessarily hurts the environment are not well-founded. A survey reveals little statistical evidence, on average across countries, that openness to international trade undermines national attempts at environmental regulation through a race to the bottom' effect. If...
Persistent link: https://www.econbiz.de/10012468604
We address the question of whether growth and welfare can be higher in crisis prone economies. First, we show that there is a robust empirical link between per-capita GDP growth and negative skewness of credit growth across countries with active financial markets. That is, countries that have...
Persistent link: https://www.econbiz.de/10012468621
This is an attempt to derive broad, strategic lessons from the diverse experience with economic growth in last fifty years. The paper revolves around two key arguments. One is that neoclassical economic analysis is a lot more flexible than its practitioners in the policy domain have generally...
Persistent link: https://www.econbiz.de/10012468644
We argue that unmeasured investments in intangible organizational capital associated with the role of information and communications technology (ICT) as a general purpose technology' can explain the divergent U.S. and U.K. TFP performance after 1995. GPT stories suggest that measured TFP should...
Persistent link: https://www.econbiz.de/10012468688
Although we cannot conceive of processes of economic growth that do not involve institutional change, in this essay we outline some reasons why one should be cautious about grounding a theory of growth on institutions. We emphasize how very different institutional structures have often been...
Persistent link: https://www.econbiz.de/10012468703
European economic growth has been weak, compared to the US, since the 80s. In previous work (Krueger and Kumar, 2003), we argued that the European focus on specialized, vocational education might have been effective during the 60s and 70s, but resulted in a growth gap relative to the US during...
Persistent link: https://www.econbiz.de/10012468711
The contending fundamental determinants of growth -- institutions, geography and culture --exhibit far more persistence than do the growth rates they are supposed to explain. So, what exogenous shocks might account for the variance around those persistent fundamentals? The terms of trade seems...
Persistent link: https://www.econbiz.de/10012468757