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Why Isn't South Africa Growing Faster? A Comparative Approach
Eyraud, Luc - 2009
by comparing its GDP components and its saving and investment performance with those of 10 faster-growing countries. The … limited saving. Thus, over the last decade, interactions between investment, saving, and production may have perpetuated slow … study finds that sluggish investment has undermined growth since 1996 and that the underinvestment is in part explained by …
Persistent link: https://www.econbiz.de/10012677704
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The volatility trap : precautionary saving, investment, and aggregate risk
Cherif, Reda; Hasanov, Fuad - 2012
We study the effects of permanent and temporary income shocks on precautionary saving and investment in a ""store … shocks leads to low precautionary saving and high or low investment, depending on the volatility of temporary shocks …. Empirical evidence shows a nonlinear relationship between investment and saving and that investment is a hump-shaped fu …
Persistent link: https://www.econbiz.de/10009615558
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The Impact of Public Capital, Human Capital, and Knowledgeon Aggregate Output
Joutz, Frederick L.; Abdih, Yasser - International Monetary Fund (IMF) - 2008
This paper investigates the impact of public capital on private sector output by testing and estimating an aggregate production function for the U.S. economy over the postwar period augmented to include the stock of public capital as an additional factor input. We use patent applications to...
Persistent link: https://www.econbiz.de/10005263996
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Comparative Macroeconomic Dynamics in the Arab World; A Panel Var Approach
Kireyev, Alexei - International Monetary Fund (IMF) - 2000
The paper presents a comparative analysis of macroeconomic dynamics of 18 Arab countries based on a panel vector autogression estimation. Comparing growth performance, fiscal and current account developments in these countries, the study concludes that (1) in the short run, external and...
Persistent link: https://www.econbiz.de/10005825740
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Public Capital and Output Growth in Portugal; An Empirical Analysis
Ligthart, Johanna Elisabeth - International Monetary Fund (IMF) - 2000
, a substantial growth payoff from public investment. Disaggregating public capital shows that investment related to …, among other things, roads, railways, and airports is more productive than public investment in other major categories. …
Persistent link: https://www.econbiz.de/10005826148
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Oil and Growth in the Republic of Congo
Ghura, Dhaneshwar; Bhattacharya, Rina - International Monetary Fund (IMF) - 2006
This paper investigates the linkages between oil and growth in Congo, where there appears to be no evidence of direct spillover effects. The empirical results suggest however that political instability has a negative effect on non-oil growth, and that the presence of oil could have fueled...
Persistent link: https://www.econbiz.de/10005826404
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Fiscal Sustainability and the Fiscal Reaction Function for South Africa
Jooste, Charl; Cuevas, Alfredo; Stuart, Ian C.; Burger, … - International Monetary Fund (IMF) - 2011
How does the South African government react to changes in its debt position? In investigating the question, this paper estimates fiscal reaction functions using various methods (OLS, VAR, TAR, GMM, State-Space modelling and VECM). The paper finds that since 1946 the South African government has...
Persistent link: https://www.econbiz.de/10009019588
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A Financial Conditions Index for South Africa
Gumata, Nombulelo; Ndou, Eliphas; Klein, Nir - International Monetary Fund (IMF) - 2012
The main purpose of this paper is to construct a financial conditions index (FCI) for South Africa. The analysis extracts the index by applying two alternative approaches (principal component analysis and Kalman filter), which identify an unobservable common factor from a group of external and...
Persistent link: https://www.econbiz.de/10011142098
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Fueling or Following Growth? Causal Effects of Capital Inflows on Recipient Economies
End, Nicolas - 2024
Identifying the causal impact of capital inflows on growth and development has been a perennial challenge. This paper proposes a new way to investigate the effect of capital flows on recipient emerging and developing economies, using shift-share instruments and correcting for indirect flows. It...
Persistent link: https://www.econbiz.de/10015058746
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A Real Model of Transitional Growth and Competitiveness in China
Lipschitz, Leslie - 2008
increases in employment and output rather than only in wages; and (2) even though the domestic saving rate is high, foreign … direct investment is also substantial. We explain these features in terms of a conventional neoclassical growth model-with no …
Persistent link: https://www.econbiz.de/10012677576