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Does democracy promote economic development? This paper reviews recent attempts to address this question that exploited within-country variation. It shows that the answer is largely positive, but also depends on the details of democratic reforms. First, the sequence of economic vs political...
Persistent link: https://www.econbiz.de/10003301122
How can a country improve the productivity growth in its business sector and reach its growth potential? Sweden during … sector. In the 1990s, Sweden implemented a reform package that ignited a successful reorganization of a business sector that … of Sweden's reforms. We also discuss how the reform experience from a developed country such as Sweden can be useful for …
Persistent link: https://www.econbiz.de/10012002862
Persistent link: https://www.econbiz.de/10013473920
This paper reconsiders the role of monetary policy in Sweden's strong recovery from the Great Depression. The Riksbank …, our findings suggest that Sweden avoided the worst excesses of the depression by conducting conservative rather than … innovative monetary policy. We find that, by keeping the Swedish krona undervalued to replenish foreign reserves, Sweden …
Persistent link: https://www.econbiz.de/10009489289
The paper analyses theoretically what role fiscal councils could play and surveys empirically the activities of existing councils. Case studies of the Swedish Fiscal Policy Council and the UK Office for Budget Responsibility are done. It is concluded that fiscal councils should be advisory,...
Persistent link: https://www.econbiz.de/10009011182
The Swedish Fiscal Policy Council (FPC) set up in 2007 is one example of the recent international trend to create independent fiscal watchdogs. The FPC has established itself as an important participant in the Swedish economic policy discussion. The FPC has small resources and a broad remit...
Persistent link: https://www.econbiz.de/10009488889
It has turned out to be difficult to adjust welfare-state arrangements to new circumstances. This paper emphasizes developments in the labor market and changes in the structure and preferences of the family. The former include changes in demography, productivity growth and international linkages...
Persistent link: https://www.econbiz.de/10011408910
What drives change in a society's values? From Marx to modernization theory, scholars have identified a connection between structural transformation and social change. To understand how changes in a society's dominant mode of production affect its dominant values, we examine the case of the...
Persistent link: https://www.econbiz.de/10014364990
Why is modern society capable of cumulative innovation? In A Culture of Growth: The Origins of the Modern Economy, Joel Mokyr persuasively argues that sustained technological progress stemmed from a change in cultural beliefs. The change occurred gradually during the seventeenth and eighteenth...
Persistent link: https://www.econbiz.de/10012035061
Persistent link: https://www.econbiz.de/10003597971