Showing 1 - 10 of 226
This paper explains in detail the construction of series for productivity in the traded and nontraded sectors for a … panel of 56 countries spanning 1989–2012. The level of productivity in each sector is defined as real value added per … more disaggregated industry source data; and (ii) it allows for meaningful comparisons of the level of productivity across …
Persistent link: https://www.econbiz.de/10011242200
This Selected Issues Paper and Statistical Appendix for Niger are discussed. The Nigerien economic outlook has been improving since 1999. After a long period of decline in per capita income, growth accelerated through 2007, attaining an annual average of 4 percent, or about 1 percent in per...
Persistent link: https://www.econbiz.de/10011245770
We reassess exchange rate prediction using a wider set of models that have been proposed in the last decade. The performance of these models is compared against two reference specifications-purchasing power parity and the sticky-price monetary model. The models are estimated in first-difference...
Persistent link: https://www.econbiz.de/10005263978
from its continued reliance on capital accumulation, China can grow at a healthy pace and maintain its convergence toward … the level of high income economies. Evidence from China’s provinces indicates that there is room to improve productivity …
Persistent link: https://www.econbiz.de/10011242319
estimates potential growth for China, India, and five ASEAN countries (Indonesia, Malaysia, the Philippines, Thailand, and … Vietnam) during 1993–2013. The main findings include: (i) both China and India have recently exhibited a slowdown in … potential growth, largely reflecting a decline of total factor productivity (TFP) growth; (ii) by contrast, trend growth for the …
Persistent link: https://www.econbiz.de/10011142066
This paper examines the external sustainability and competitiveness of Benin’s economy. Balance of payments flows suggest Benin’s external position is sustainable. Large trade and current account deficits are comfortably financed by inflows through the capital and financial...
Persistent link: https://www.econbiz.de/10011245132
We show the importance of a dynamic aggregation bias in accounting for the PPP puzzle. We prove that established time-series and panel methods substantially exaggerate the persistence of real exchange rates because of heterogeneity in the dynamics of disaggregated relative prices. When...
Persistent link: https://www.econbiz.de/10005248142
This Selected Issues paper on the Republic of Kazakhstan underlies growth of the non-oil sector, fiscal management of oil wealth, and bank credit growth. The share of tradables in the non-oil sector has declined significantly, both in terms of value added and employment, while many nontradable...
Persistent link: https://www.econbiz.de/10005252795
We re-examine the monetary approach to the exchange rate from a number of perspectives, using monthly data on the deutschemark-dollar exchange rate. Using the Campbell-Shiller technique for testing present value models, we reject the restrictions imposed upon the data by the forward-looking...
Persistent link: https://www.econbiz.de/10005263652
The paper examines the principles on which a reform of a Quota based global economic institution like the IMF must be based, taking account of both the relative economic power of countries and the need for voice and representation of the poor countries. These principles are then used in the...
Persistent link: https://www.econbiz.de/10009293761