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Growth and the Quality of Foreign Direct Investment: Is All FDI Equal?

Alfaro, Laura; Charlton, Andrew - Centre for Economic Performance, LSE - 2007

In this paper we distinguish different "qualities" of FDI to re-examine the relationship between FDI and growth. We use 'quality' to mean the effect of a unit of FDI on economic growth. However this is difficult to establish because it is a function of many different country and project...

Persistent link: https://www.econbiz.de/10005151011

Trading Away Wide Brands for Cheap Brands

Dhingra, Swati - Centre for Economic Performance, LSE - 2011

Firms face competing needs to expand product variety and reduce production costs. Trade policy affects firm investments … recapture these lost markups. I provide a theory detailing this conflicting impact of trade policy and address welfare gains … from trade. Accounting for firm heterogeneity, I show support for the theoretical predictions with firm-level innovation …

Persistent link: https://www.econbiz.de/10009368610

Is Poland the Next Spain?

Caselli, Francesco; Tenreyro, Silvana - Centre for Economic Performance, LSE - 2005

We revisit Western Europe's record with labor-productivity convergence, and tentatively extrapolate its implications for the future path of Eastern Europe. The poorer Western European countries caught up with the richer ones through both higher rates of physical capital accumulation and greater...

Persistent link: https://www.econbiz.de/10005670485

The Financial Resource Curse

Benigno, Gianluca; Fornaro, Luca - Centre for Economic Performance, LSE - 2013

This paper presents a model of financial resource curse, i.e. episodes of abundant access to foreign capital coupled with weak productivity growth. We study a two-sector, tradable and non-tradable, small open economy. The tradable sector is the engine of growth, and productivity growth is...

Persistent link: https://www.econbiz.de/10010655944

Long Term Implications of the ICT Revolution: Applying the Lessons of Growth Theory and Growth Accounting

Oulton, Nicholas - Centre for Economic Performance, LSE - 2010

production. Even a country which has zero ICT production can benefit via improving terms of trade. In the long run, the falling …

Persistent link: https://www.econbiz.de/10009643553

Reserve Accumulation, Growth and Financial Crises

Benigno, Gianluca; Fornaro, Luca - Centre for Economic Performance, LSE - 2012

We present a model that reproduces two salient facts characterizing the international monetary system: i) Faster growing countries are associated with lower net capital inflows and ii) Countries that grow faster accumulate more international reserves and receive more net private inflows. We...

Persistent link: https://www.econbiz.de/10010567972

Space-Time (In)Consistency in the National Accounts: Causes and Cures

Oulton, Nicholas - Centre for Economic Performance, LSE - 2015

In early 2014 the World Bank published the main findings of the 2011 International Comparison Program (ICP). The result was surprising: the world is apparently richer and more equal than we would have expected based on extrapolating from the earlier, 2005 ICP. This is an example of what I call...

Persistent link: https://www.econbiz.de/10011271360

Tax Cuts in Open Economies

Cuñat, Alejandro; Deak, Szabolcs; Maffezzoli, Marco - Centre for Economic Performance, LSE - 2008

dynamic response of government revenue to a tax cut changes if we allow a Ramsey economy to engage in international trade: the … in the literature: dynamic scoring and the Laffer curve. Our results demonstrate the internaional trade enhances the …

Persistent link: https://www.econbiz.de/10005151012

Its Not What You Make, Its How You Use IT: Measuring the Welfare Benefits of the IT Revolution Across Countries

Bayoumi, Tamim; Haacker, Markus - Centre for Economic Performance, LSE - 2002

This paper analyzes the welfare benefits from falling relative prices of IT (information technology) goods across a wide range of countries. We find, using two separate methodologies and datasets, that welfare benefits mainly accrue to users of IT, not their producers, because of falling...

Persistent link: https://www.econbiz.de/10005016963

Heterogeneous Firms and Trade

Melitz, Marc J.; Redding, Stephen J. - Centre for Economic Performance, LSE - 2012

This paper reviews the new approach to international trade based on firm heterogeneity in differentiated product … markets. This approach explains a variety of features exhibited in disaggregated trade data, including the higher productivity … of exporters relative to non-exporters, within-industry reallocations of resources following trade liberalization, and …

Persistent link: https://www.econbiz.de/10010599240

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