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The purpose of this paper is to explain the humped-shaped behavior of the growth rate. Within a dynamic general equilibrium framework, it is found that, in the early stages of development, the source of growth is the reallocation of resources from sectors low-productivity sectors to...
Persistent link: https://www.econbiz.de/10005605049
This paper draws on existing empirical literature and an original theoretical model to argue that globalization and skill supply affect the extent to which technology adoption in developing countries favors skilled workers. Developing countries are experiencing technical change that is...
Persistent link: https://www.econbiz.de/10010790338
This Selected Issues paper analyzes the impact of Mexico’s energy reform on hydrocarbons production. These reforms aim to increase oil and gas production by eliminating the state oil company’s (PEMEX) monopoly on exploration and production of hydrocarbons, while retaining the prime...
Persistent link: https://www.econbiz.de/10011245058
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Persistent link: https://www.econbiz.de/10011245720
While global rebalancing will mainly involve structural realignment among major advanced and emerging market economies, it could have significant impact on low-income countries (LICs). Simulations using a global general equilibrium model show that a more balanced global economy would tend to...
Persistent link: https://www.econbiz.de/10009369449
response, because India was far away from its income-possibility frontier. Registered manufacturing, which had been built up in …
Persistent link: https://www.econbiz.de/10005825610
. While the importance of services rather than manufacturing is widely noted, within manufacturing India has emphasized skill …-intensive rather than laborintensive manufacturing, and industries with higher-than-average scale. Some of these distinctive patterns …
Persistent link: https://www.econbiz.de/10005826605
This paper analyzes the scope for systematic rules-based fiscal activism in open economies. Relative to a balanced budget rule, automatic stabilizers significantly improve welfare. But they minimize fiscal instrument volatility rather than business cycle volatility. A more aggressively...
Persistent link: https://www.econbiz.de/10004999963
's (registered) manufacturing sectors during the 1980s and 1990s. The main findings of the paper are (i) labor and total factor … productivity (TFP) growth in total manufacturing and many of the component sectors since 1980 were markedly higher than that in the … manufacturing as well as for many subsectors picked up further after the 1991 reforms; and (iii) classification of the best …
Persistent link: https://www.econbiz.de/10005599517
The notable rebound of U.S. manufacturing activity following the Great Recession has raised the question of whether the … labor costs have had a positive impact on U.S. manufacturing production. While we find it unlikely for manufacturing to … become a main engine of growth in the United States, we find that U.S. manufacturing exports could provide nonnegligible …
Persistent link: https://www.econbiz.de/10010790239