Showing 1 - 10 of 71
news is that growth in the developing world should depend not on growth in the advanced economies themselves, but on the …
Persistent link: https://www.econbiz.de/10012461258
We evaluate the impact of the global financial crisis (GFC) and recent structural changes in the patterns of hoarding international reserves (IR). We confirm that the determinants of IR hoarding evolve with developments in the global economy. During the pre-GFC period of 1999-2006, gross saving...
Persistent link: https://www.econbiz.de/10012458280
This paper asks why developing country policymakers have been so reluctant to undertake trade reform until the 1980s, and why many of them have embraced open trade policies so wholeheartedly since then. To answer these questions, the paper develops a heuristic index of the "political...
Persistent link: https://www.econbiz.de/10012475034
We study how the financial conditions in the Center Economies [the U.S., Japan, and the Euro area] impact other countries over the period 1986 through 2015. Our methodology relies upon a two-step approach. We focus on five possible linkages between the center economies (CEs) and the non-Center...
Persistent link: https://www.econbiz.de/10012455943
when it constitutes a small share of the world market and hence has strong free riding incentives otherwise. A benevolent …
Persistent link: https://www.econbiz.de/10012476074
We trace the linkages between the episodes of fiscal expansion and consolidation in 72 advanced and emerging and developing economies. The findings suggest that fiscal expansions are positively associated with economic growth, which in turn is positively linked with better sustainable...
Persistent link: https://www.econbiz.de/10012794621
This paper opens with a discussion of the types of institutions that allow markets to perform adequately. While we can identify in broad terms what these are, there is no unique mapping between markets and the non-market institutions that underpin them. The paper emphasizes the importance of...
Persistent link: https://www.econbiz.de/10012471235
Large gaps in labor productivity between the traditional and modern parts of the economy are a fundamental reality of developing societies. In this paper, we document these gaps, and emphasize that labor flows from low-productivity activities to high-productivity activities are a key driver of...
Persistent link: https://www.econbiz.de/10012461515
Do countries with lower policy-induced barriers to international trade grow faster, once other relevant country characteristics are controlled for? There exists a large empirical literature providing an affirmative answer to this question. We argue that methodological problems with the empirical...
Persistent link: https://www.econbiz.de/10012471715
In contrast, we find that past crisis experience has a significant impact on savings. When facing considerable political risk, the past does seem to matter - countries with more people who were exposed, over their lifetime, to larger disasters will tend to save more. This association, however,...
Persistent link: https://www.econbiz.de/10012460133