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The return of the policy that shall not be named : principles of industrial policy
Chérif, Réda; Hasanov, Fuad - 2019
Industrial policy is tainted with bad reputation among policymakers and academics and is often viewed as the road to perdition for developing economies. Yet the success of the Asian Miracles with industrial policy stands as an uncomfortable story that many ignore or claim it cannot be...
Persistent link: https://www.econbiz.de/10012010001
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The leap of the tiger : how Malaysia can escape the middle-income trap
Chérif, Réda; Hasanov, Fuad - 2015
Only a few European economies and Korea and Taiwan Province of China reached high-income status during 1970-2010. Malaysia’s real income per capita increased to 26 percent of the U.S. level in 2010 from 20 percent in 1970. Despite relatively strong growth and a substantial improvement in...
Persistent link: https://www.econbiz.de/10011374753
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Leaning against the wind : a cost-benefit analysis for an integrated policy framework
Brandao Marques, Luis; Gelos, Gaston; Narita, Machiko; … - 2020
This paper takes a new approach to assess the costs and benefits of using different policy tools-macroprudential, monetary, foreign exchange interventions, and capital flow management-in response to changes in financial conditions. The approach evaluates net benefits of policies using quadratic...
Persistent link: https://www.econbiz.de/10012299315
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A TIP against the COVID-19 pandemic
Chérif, Réda; Hasanov, Fuad - 2020
A universal testing and isolation policy is the most viable way to vanquish a pandemic. Its implementation requires: (i) an epidemiological rather than clinical approach to testing, sacrificing accuracy for scalability, convenience and speed; and (ii) state intervention to ramp up production,...
Persistent link: https://www.econbiz.de/10012252486
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Digging deeper : evidence on the effects of macroprudential policies from a new database
Alam, Zohair; Alter, Adrian; Eiseman, Jesse; Gelos, Gaston - 2019
This paper introduces a new comprehensive database of macroprudential policies, which combines information from various sources and covers 134 countries from January 1990 to December 2016. Using these data, we first confirm that loan-targeted instruments have a significant impact on household...
Persistent link: https://www.econbiz.de/10012009972
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Capital flows at risk : taming the ebbs and flows
Gelos, Gaston; Gornicka, Lucyna; Koepke, Robin; Sahay, Ratna - 2019
The volatility of capital flows to emerging markets continues to pose challenges to policymakers. In this paper, we propose a new framework to answer critical policy questions: What policies and policy frameworks are most effective in dampening sharp capital flow movements in response to global...
Persistent link: https://www.econbiz.de/10012155045
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Knowledge spillovers from superstar tech-firms : the case of Nokia
Ali-Yrkkö, Jyrki; Chérif, Réda; Hasanov, Fuad; … - 2021
spillovers on firms is particularly strong in terms of employment and value added …
Persistent link: https://www.econbiz.de/10012796292
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Fair and inclusive markets : why dynamism matters
Aghion, Philippe; Chérif, Réda; Hasanov, Fuad - 2021
inequality are characterized by dynamism-a drive toward sophisticated export industries, innovation, and creative destruction and …
Persistent link: https://www.econbiz.de/10012517949
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Competition, innovation, and inclusive growth
Aghion, Philippe; Chérif, Réda; Hasanov, Fuad - 2021
We provide an overview of the theories and empricial evidence on the complex relationship among innovation, competition …, and inclusive growth. Competition and innovation-led growth are critical to drive productivity gains and support broad …-based growth. However, new technologies and trends in market concentration are stifling future innovation while contributing to the …
Persistent link: https://www.econbiz.de/10012518975