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Volatility and development
Koren, Miklos; Tenreyro, Silvana - London School of Economics (LSE) - 2005
Why is GDP growth so much more volatile in poor countries than in rich ones? We identify four possible reasons: (i) poor countries specialize in more volatile sectors; (ii) poor countries specialize in fewer sectors; (iii) poor countries experience more frequent and more severe aggregate shocks...
Persistent link: https://www.econbiz.de/10010884605
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Technological diversification
Koren, Miklos; Tenreyro, Silvana - London School of Economics (LSE) - 2007
Economies at early stages of development are often shaken by abrupt changes in growth rates, whereas in advanced economies growth rates tend to be relatively stable. To explain this pattern, we propose a theory of technological diversification. Production makes use of different input varieties,...
Persistent link: https://www.econbiz.de/10010928680
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Volatility and development
Koren, Miklos; Tenreyro, Silvana - London School of Economics (LSE) - 2005
Why is GDP growth so much more volatile in poor countries than in rich ones? We identify four possible reasons: (i) poor countries specialize in more volatile sectors; (ii) poor countries specialize in fewer sectors; (iii) poor countries experience more frequent and more severe aggregate shocks...
Persistent link: https://www.econbiz.de/10010744831
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Is Poland the next Spain?
Caselli, Francesco; Tenreyro, Silvana - London School of Economics (LSE) - 2005
We revisit Western Europe’s record with labor-productivity convergence, and tentatively extrapolate its implications … capital accumulation and TFP growth reflect convergence along two margins. One margin (between industry) is a massive …. Coupled with the fact that within-industry productivity gaps are enormous, this suggests that convergence will take a long …
Persistent link: https://www.econbiz.de/10010745276