Similar Search Results

The Chinese Corporate Savings Puzzle : A Firm-level Cross-country Perspective

Bayoumi, Tamim - 2010

China's high corporate savings rate is commonly claimed to be a key driver for the country's large current account surplus. The mainstream explanation for high corporate savings is a combination of windfall profits in state-owned firms, especially in resource sectors, and mis-governance of...

Persistent link: https://www.econbiz.de/10012462224

Give Credit Where Credit Is Due : Tracing Value Added in Global Production Chains

Koopman, Robert - 2010

This paper provides both a conceptual framework for decomposing a country's gross exports into value-added components by source and a new bilateral database on value-added trade. Our parsimonious framework integrates all previous measures of vertical specialization and value-added trade in the...

Persistent link: https://www.econbiz.de/10012462230

Does a Leapfrogging Growth Strategy Raise Growth Rate? Some International Evidence

Wang, Zhi - 2010

While openness to trade is a well-recognized hallmark of many successful emerging market economies known as "growth miracles," another component of the growth model is a leapfrogging strategy - the use of policies to guide the industrial structural transformation ahead of a country's factor...

Persistent link: https://www.econbiz.de/10012462266

A Sexually Unbalanced Model of Current Account Imbalances

Du, Qingyuan - 2010

Large savings and current account surpluses by China and other countries are said to be a contributor to the global current account imbalances and possibly to the recent global financial crisis. This paper proposes a theory of excess savings based on a major, albeit insufficiently recognized by...

Persistent link: https://www.econbiz.de/10012462653

A New Data Set of Educational Attainment in the World, 1950-2010

Barro, Robert J. - 2010

Our panel data set on educational attainment has been updated for 146 countries from 1950 to 2010. The data are disaggregated by sex and by 5-year age intervals. We have improved the accuracy of estimation by using information from consistent census data, disaggregated by age group, along with...

Persistent link: https://www.econbiz.de/10012462749

The US as the "Demander of Last Resort" and its Implications on China's Current Account

Aizenman, Joshua - 2008

This paper evaluates the degree to which current account patterns are explained by the variables suggested by the literature, and reflects on possible future patterns. We start with panel regressions explaining the current account of 69 countries during 1981-2006. We identify an asymmetric...

Persistent link: https://www.econbiz.de/10012464194

A Faith-based Initiative : Does a Flexible Exchange Rate Regime Really Facilitate Current Account Adjustment?

Chinn, Menzie D. - 2008

The assertion that a flexible exchange rate regime would facilitate current account adjustment is often repeated in policy circles. In this paper, we compile a data set encompassing data for over 170 countries are included, over the 1971-2005 period, and examine whether the rate of current...

Persistent link: https://www.econbiz.de/10012464227

Estimation of De Facto Exchange Rate Regimes : Synthesis of the Techniques for Inferring Flexibility and Basket Weights

Frankel, Jeffrey A. - 2008

The paper offers a new approach to estimate de facto exchange rate regimes, a synthesis of two techniques. One is a technique that the authors have used in the past to estimate implicit de facto weights when the hypothesis is a basket peg with little flexibility. The second is a technique used...

Persistent link: https://www.econbiz.de/10012464630

Macroeconomic Crises since 1870

Barro, Robert J. - 2008

by at least 10%. The principal world economic crises ranked by importance are World War II, World War I and the Great … Depression, the early 1920s (possibly reflecting the influenza epidemic of 1918-20), and post-World War II events such as the …" coefficient of relative risk aversion of 3.5. This result is robust to a number of perturbations, except for limiting the sample …

Persistent link: https://www.econbiz.de/10012464679

Current Account Patterns and National Real Estate Markets

Aizenman, Joshua - 2008

This paper studies the association between the current account and real estate valuation across countries, subject to data availability [43 countries, of which 25 are OECD], during 1990 - 2005. We find robust and strong positive association between current account deficits and the appreciation...

Persistent link: https://www.econbiz.de/10012464726