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Fiscal buffers have shrunk across the world. This paper argues that limited fiscal room in emerging market economies today is partly due to the commodity super cycle of 2000-15. The super cycle created the mirage that economic performance had structurally improved, mistaking a long,...
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as the impact of these activities on firm-level productivity. The evidence gathered suggests that countries in the South …-owned firms as the most innovative of the region. The evidence also suggests a positive impact of innovation on productivity …
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Over the past decades, East Asia and Pacific's productivity has been gradually catching up with the frontier (the … United States), with China leading the pack. Productivity growth has been driven by sustained within-sector productivity … growth. Reallocation of labor to sectors with higher productivity, such as industry and services, also contributed to …
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