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Institutions Rule : The Primacy of Institutions over Geography and Integration in Economic Development

Rodrik, Dani - 2002

We estimate the respective contributions of institutions, geography, and trade in determining income levels around the … world, using recently developed instruments for institutions and trade. Our results indicate that the quality of … institutions trumps' everything else. Once institutions are controlled for, measures of geography have at best weak direct effects …

Persistent link: https://www.econbiz.de/10012469401

Economic Development as Self-Discovery

Hausmann, Ricardo - 2002

In the presence of uncertainty about what a country can be good at producing, there can be great social value to discovering costs of domestic activities because such discoveries can be easily imitated. We develop a general-equilibrium framework for a small open economy to clarify the analytical...

Persistent link: https://www.econbiz.de/10012469762

Structural Change, Fundamentals and Growth : A Framework and Case Studies

McMillan, Margaret - 2017

Developing countries made considerable gains during the first decade of the 21st century. Their economies grew at unprecedented rates, resulting in large reductions in extreme poverty and a significant expansion of the middle class. But more recently that progress has slowed with an economic...

Persistent link: https://www.econbiz.de/10012455303

The Future of Economic Convergence

Rodrik, Dani - 2011

The question addressed in this paper is whether the gap in performance between the developed and developing worlds can continue, and in particular, whether developing nations can sustain the rapid growth they have experienced of late. The good news is that growth in the developing world should...

Persistent link: https://www.econbiz.de/10012461258

Measuring Real Economic Effects of Bailouts : Historical Perspectives on How Countries in Financial Distress Have Fared With and Without Bailouts

Bordo, Michael D. - 2000

In this paper we first trace the changing nature of banking, currency and debt crises from the last century to the present. Each type of crisis has transmogrified in the presence of official intervention and the creation of a safety net. A similar pattern is observed for international rescue...

Persistent link: https://www.econbiz.de/10012471060

Short-Term Capital Flows

Rodrik, Dani - 1999

We provide a conceptual and empirical framework for evaluating the effects of short-term capital flows. A simple model of the joint determination of the maturity and cost of external borrowing highlights the role played by self-fulfilling crises. The model also specifies the circumstances under...

Persistent link: https://www.econbiz.de/10012471420

Foreign Currency Debt, Financial Crises and Economic Growth : A Long Run View

Bordo, Michael D. - 2009

Foreign currency debt is widely believed to increase risks of financial crisis, especially after being implicated as a cause of the East Asian crisis in the late 1990s. In this paper, we study the effects of foreign currency debt on currency and debt crises and its indirect short and long run...

Persistent link: https://www.econbiz.de/10012463115

Does Openness to International Financial Flows Raise Productivity Growth?

Kose, M. Ayhan - 2008

liabilities and TFP growth is attenuated in economies with higher levels of financial development and better institutions …

Persistent link: https://www.econbiz.de/10012464090

The Role of Foreign Currency Debt in Financial Crises : 1880-1913 vs. 1972-1997

Bordo, Michael D. - 2005

What is the role of foreign currency debt in precipitating financial crises? In this paper we compare the 1880 to 1913 period to recent experience. We examine debt crises, currency crises, banking crises and the interrelation between these varieties of crises. We pay special attention to the...

Persistent link: https://www.econbiz.de/10012466774