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Growth Dynamics : The Myth of Economic Recovery

Cerra, Valerie; Saxena, Sweta Chaman - 2013

financial crises are permanent on average, and long-term growth is negatively linked to volatility. These results also imply …

Persistent link: https://www.econbiz.de/10014063095

Commodity Price Volatility and the Sources of Growth

Cavalcanti, Tiago - 2012

This paper studies the impact of the level and volatility of the commodity terms of trade on economic growth, as well … of trade growth enhances real output per capita, volatility exerts a negative impact on economic growth operating mainly … trade volatility offset the positive impact of commodity booms; and export diversification of primary commodity abundant …

Persistent link: https://www.econbiz.de/10013111408

Product Variety and Economic Growth : Empirical Evidence for the OECD Countries

Funke, Michael - 2021

This paper uses panel data for 19 OECD countries and finds support for the hypothesis that a greater degree of product variety relative to the United States helps to explain relative per capita GDP levels. The empirical work relies upon some direct measures of product variety calculated from...

Persistent link: https://www.econbiz.de/10013317978

Does a Regional Trade Agreement Lessen or Exacerbate Growth Volatility? An Empirical Investigation

Kpodar, Kangni - 2015

This paper assesses how regional trade agreements (RTAs) impact growth volatility on a worldwide sample of 170 …, improved policy coordination, and reduced risk of conflicts can ease growth volatility. Empirical estimations suggest the … benefits outweigh the costs as RTAs are consistently associated with lower growth volatility, after controlling for trade …

Persistent link: https://www.econbiz.de/10013015607

This Changes Everything : Climate Shocks and Sovereign Bonds

Cevik, Serhan - 2020

Climate change is already a systemic risk to the global economy. While there is a large body of literature documenting potential economic consequences, there is scarce research on the link between climate change and sovereign risk. This paper therefore investigates the impact of climate change...

Persistent link: https://www.econbiz.de/10012828232

An Apocalypse Foretold : Climate Shocks and Sovereign Defaults

Cevik, Serhan; Jalles, João Tovar - 2021

Climate change poses an existential threat to the global economy. While there is a growing body of literature on the economic consequences of climate change, research on the link between climate change and sovereign default risk is nonexistent. We aim to fill this gap in the literature by...

Persistent link: https://www.econbiz.de/10013252051

Understanding Export Diversification : Key Drivers and Policy Implications

Giri, Rahul - 2019

We identify key factors, from large set of potential determinants, that explain the variation in export diversification across countries and over time using Bayesian Model Averaging (BMA), which addresses model uncertainty and ranks factors in order of importance vis-a-vis their explanatory...

Persistent link: https://www.econbiz.de/10012868473

Does Lower Debt Buy Higher Growth? The Impact of Debt Relief Initiatives on Growth

Marcelino, Sandra - 2015

In 1996, the IMF and the World Bank introduced the Heavily Indebted Poor Countries Initiative — a comprehensive debt …

Persistent link: https://www.econbiz.de/10013028675

Precautionary Savings in the Great Recession

Mody, Ashoka - 2012

Heightened uncertainty since the onset of the Great Recession has materially increased saving rates, contributing to lower consumption and GDP growth. Consistent with a model of precautionary savings in the face of uncertainty, we find for a panel of advanced economies that greater labor income...

Persistent link: https://www.econbiz.de/10013110097

Business Cycle Fluctuations, Large Shocks, and Development Aid : New Evidence

Dabla-Norris, Era; Minoiu, Camelia; Zanna, Luis-Felipe - 2016

We examine the cyclical properties of development aid using bilateral data for 22 donors and over 100 recipients during 1970‒2005. We find that bilateral aid flows are on average pro-cyclical with respect to business cycles in donor and recipient countries. However, they become...

Persistent link: https://www.econbiz.de/10014189315