Loayza, Norman V.; Rancière, Romain; Servén, Luis; … - In: World Bank Economic Review 21 (2007) 3, pp. 343-357
Macroeconomic volatility, both a source and a reflection of underdevelopment, is a fundamental concern for developing countries. Their high aggregate instability results from a combination of large external shocks, volatile macroeconomic policies, microeconomic rigidities, and weak institutions....