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Este trabajo parte de la idea de que la reproducción del subdesarrollo brasileño se explica por la persistencia de un conjunto de elementos que operan como obstáculos de carácter estructural, a los que nos referimos con el nombre de límites estructurales al desarrollo económico....
Persistent link: https://www.econbiz.de/10010820787
Zambia was a middle-income country when it achieved independence from Great Britain in 1964. After decades of … international aid Zambia has become a low-income country, and its per capita GDP is only now returning to the levels it had reached … over forty years ago. While aid is far from the only variable at work in Zambia's development, its impact has been …
Persistent link: https://www.econbiz.de/10011025870
Zambia was economically prosperous at independence (1964), due to the thriving copper industry. Zambia has the … economy. Zambia is one of the countries in the southern Africa sub-region faced with a food crisis attributed to a complex …
Persistent link: https://www.econbiz.de/10010618120
The fiscal theory of the price level says that the price level can be made determinate if the government uses fiscal policies such that government liabilities explode unless the price in the first period is at the "right" level. The policy implications are disturbing, as they call for rather...
Persistent link: https://www.econbiz.de/10010929080
This paper explores the role of corruption in a two-country model with fiscal spillovers. In the absence of cooperation on governance issues, countries always have a strategic incentive to appoint policymakers whose aversion to corruption is lower than average. An international agreement is a...
Persistent link: https://www.econbiz.de/10009277879
In this paper, we introduce input-specific externalities in a dynamic general equilibrium model with heterogeneous households and a finance constraint (Woodford (1986)). In contrast to existing papers, average labor and capital have not a positive impact on the total productivity of factors, but...
Persistent link: https://www.econbiz.de/10010750927
This paper examines the influence of political ideology on economic growth in the French democracy since 1871. It does so by addressing three main issues : the property and the reliability of a political ideology index in the long-run, the robustness of the relationship between ideology and...
Persistent link: https://www.econbiz.de/10010635028
We analyze how investment subsidies can affect aggregate volatility and growth in economies subject to capital market imperfections. Within a model featuring both frictions on the credit market and unequal access to investment opportunities among individuals, we provide specific fiscal...
Persistent link: https://www.econbiz.de/10010738439
This paper offers a framework to study commitment and cooperation issues in games with multiple policymakers. To reconcile some puzzles in the recent literature on the nature of policy interactions among nations, we prove that games characterized by different commitment and cooperation schemes...
Persistent link: https://www.econbiz.de/10010738606
We assess fiscal performances in G7 and selected Latin American and Asian countries. We analyze two questions: (i) have public finances been sustainable? (ii) do countries follow more restrictive fiscal policies when debt starts to rise? We find that: (i) The traditional unit root tests often...
Persistent link: https://www.econbiz.de/10008789116