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We use more than one century of Argentine and Mexican data to estimate the structural parameters of a small-open-economy real-business-cycle model driven by nonstationary productivity shocks. We find that the RBC model does a poor job at explaining business cycles in emerging countries. We then...
Persistent link: https://www.econbiz.de/10012760602
This paper analyzes the structural relationship between policies that distort resource allocation and long-ten growth. It first reviews briefly the Solow model in which steady-state growth depends only on exogenous technological change. Policy distortions do affect the rate of growth in the...
Persistent link: https://www.econbiz.de/10013324111
-average temperatures and the incidence of civil war in Africa (Burke et al. 2009). These findings have recently been challenged by Buhaug …
Persistent link: https://www.econbiz.de/10013137308
In the 3 years before the 2008 Financial Crisis, GDP growth in sub Saharan Africa (averaged over individual economies … small, portion of the elevated growth in sub Saharan Africa in the three years before the Financial Crisis and also in the …
Persistent link: https://www.econbiz.de/10013119043
Measures of real consumption based upon the ownership of durable goods, the quality of housing, the health and mortality of children, the education of youth and the allocation of female time in the household indicate that sub-Saharan living standards have, for the past two decades, been growing...
Persistent link: https://www.econbiz.de/10013098811
experience. In contrast to the East Asian experience, none of the recent growth accelerations in Latin America, Africa, or South … rapid within-sector labor productivity growth (Latin America) or growth-increasing structural change (Africa), but rarely … explain this anomaly by arguing that the forces that promoted structural change in Africa originated on the demand side …
Persistent link: https://www.econbiz.de/10012963742
GDP growth is often measured poorly for countries and rarely measured at all for cities or subnational regions. We propose a readily available proxy: satellite data on lights at night. We develop a statistical framework that uses lights growth to augment existing income growth measures, under...
Persistent link: https://www.econbiz.de/10013151806
Africa and Latin America secured their independence from European colonial rule a century and half apart: most of Latin … America after 1820 and most of Africa after 1960. Despite the distance in time and space, they share important similarities … about a half-century (lost decades). The parallels suggest that Africa might be exiting from a period of post …
Persistent link: https://www.econbiz.de/10012778235
This paper explores whether one of the most important U.S. policies towards Africa of the past few decades achieved its …
Persistent link: https://www.econbiz.de/10012759989
Africa's recent growth performance has raised expectations of a bright economic future for the continent after decades … of decline. Yet there is a genuine question about whether Africa's growth can be sustained, and if so, at what level. The …
Persistent link: https://www.econbiz.de/10013052685