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Beginning in the late 1970s, China's economy delivered the largest growth spurt in recorded history. Striking … "China miracle" that requires neither economic nor historical analysis. This overlooks deep institutional constraints arising … decentralized innovation. Historic legacies that shape political structures and individual behavior will continue to influence China …
Persistent link: https://www.econbiz.de/10013314817
benign international environment, this approach makes it unlikely that the economy will face a collapse in growth. But there …, especially those related to having an open capital account, do not loom large in the case of China. In the process of securing …
Persistent link: https://www.econbiz.de/10013316851
China's remarkable run of persistently high growth in recent decades is all the more stunning in light of the country …'s low levels of financial and institutional development, state-dominated economy, and nondemocratic government …. Notwithstanding the inefficient and risky growth model, the government has maneuvered the economy around various stresses without any …
Persistent link: https://www.econbiz.de/10014354664
This essay investigates the determinants of the growth performance of Africa. I start by illustrating a broader research agenda which accounts not only for basic economic and demographic factors, but also for the role of history and institutional development. After reporting results from...
Persistent link: https://www.econbiz.de/10013122110
Using newly collected national and sub-national data and historical case studies, this paper argues that differences in innovative capacity, captured by the density of engineers at the dawn of the Second Industrial Revolution, are important to explaining present income differences, and, in...
Persistent link: https://www.econbiz.de/10013051452
This paper investigates the effects of financial development and political instability on economic growth in a power-ARCH framework with data for Argentina from 1896 to 2000. Our findings suggest that (i) informal or unanticipated political instability (e.g., guerrilla warfare) has a direct...
Persistent link: https://www.econbiz.de/10013324919
If society's goal is to increase people's feelings of well-being, economic growth in itself will not do the job. Full employment and a generous and comprehensive social safety net do increase happiness. Such policies are arguably affordable not only in higher income nations but also in countries...
Persistent link: https://www.econbiz.de/10013085480
it the Great Recession), but the Australian economy appears to be powering ahead. It is a miracle economy! Unlike most of … economy compared to some of the OECD countries and see that, in fact, Australia has a "miracle economy". The comparisons are …
Persistent link: https://www.econbiz.de/10013077340
We examine the Exchange Rate Volatility (ERV) response to the Economic Policy Uncertainty (EPU) shocks from a panel VAR perspective used for the first time in this context. Focusing on Emerging Market Economies (EME), our noteworthy findings postulate that (a) both home and foreign EPU shocks...
Persistent link: https://www.econbiz.de/10012831210
optimism about the resilience of the economy. Further disaggregating employment into different types of jobs such as self …
Persistent link: https://www.econbiz.de/10012831969