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This paper empirically assesses the role of structural and institutional reforms in driving productivity growth across … reforms matter more for increasing productivity growth at the aggregate and sectoral levels for some emerging market and … payoffs, the paper also examines how productivity gains from various reforms evolve over the the short- and medium-term …
Persistent link: https://www.econbiz.de/10012996099
The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers however believe that inflows lead to credit booms and rising output, and the evidence appears to go their way. To...
Persistent link: https://www.econbiz.de/10013002152
We document that, historically, although stronger growth in the U.S. increases growth in emerging markets, U.S. dollar appreciation (depreciation) cycles - which are highly persistent - mitigate (amplify) the impact on real GDP growth in emerging markets. We argue that the main transmission...
Persistent link: https://www.econbiz.de/10013015605
Following very strong growth during the period 2000-12, emerging market economies (EMEs) experienced a slowdown in the last couple of years. This paper examines the supply-side drivers of the strong growth performance of 63 EMEs and investigates if the recent slowdown in growth is transitory or...
Persistent link: https://www.econbiz.de/10013040406
contribution of total factor productivity (TFP) to growth is largely responsible for the slowdown in trend growth in many SMICs …, which highlights the need for policy actions to reinvigorate productivity growth. This paper explores the question of what … kind of structural policies could boost productivity growth in SMICs and the political economy factors that may be …
Persistent link: https://www.econbiz.de/10013028660
This paper examines the impact of Dollar exchange rate volatility on firm productivity in Emerging Markets economies … volatility reduces firm productivity growth. Exploring channels, its finds that the results are driven by countries with low …
Persistent link: https://www.econbiz.de/10014350158
hypotheses. In this paper, I build a panel structural vector autoregression (SVAR) model for a short panel of 119 countries over …
Persistent link: https://www.econbiz.de/10013015683
panel of 56 countries spanning 1989–2012. The level of productivity in each sector is defined as real value added per worker …This paper explains in detail the construction of series for productivity in the traded and nontraded sectors for a … more disaggregated industry source data; and (ii) it allows for meaningful comparisons of the level of productivity across …
Persistent link: https://www.econbiz.de/10013025482
broad panel ofcountries is very weak. Controlling for country fixed effects, time effects and initial GDP,a more depreciated … after controling for thesavings rate. Importantly, this applies for both a large panel of countries and for theemerging …
Persistent link: https://www.econbiz.de/10012929924
as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital … (CPMG) methodology of Pesaran et al. (1999) for estimation. The latter takes account of cross-country heterogeneity and …
Persistent link: https://www.econbiz.de/10013111408