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Global Business Cycles; Convergence or Decoupling?
Kose, M. Ayhan; Prasad, Eswar; Otrok, Christopher - International Monetary Fund (IMF) - 2008
This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...
Persistent link: https://www.econbiz.de/10005825794
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And Schumpeter Said, "This is How Thou Shalt Grow"; Further Quest for Economic Growth in Poor Countries
Beaugrand, Philippe - International Monetary Fund (IMF) - 2004
The paper reviews the “stylized facts” on economic growth gathered by Easterly and Levine in their 2001 joint paper and illustrates some of the points made on the basis of data from the IMF’s World Economic Outlook on real growth and per capita GDP since 1970. The data show that the growth...
Persistent link: https://www.econbiz.de/10005825901
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Convergence in institutions and market outcomes: cross-country and time-series evidence from the business environment and enterprise performance surveys in transition economies
Mitra, Pradeep; Muravyev, Alexander; Schaffer, Mark E. - Economics Research, World Bank Group - 2009
This paper uses firm-level data from the Business Environment and Enterprise Performance Surveys to study the process of convergence of transition countries with developed market economies. The study focuses on competition and market structure, finance and the structure of lending to firms, and...
Persistent link: https://www.econbiz.de/10005106885
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Revisiting the Link Between Finance and Macroeconomic Volatility
Dabla-Norris, Era; Srivisal, Narapong - International Monetary Fund (IMF) - 2013
This paper examines the impact of financial depth on macroeconomic volatility using a dynamic panel analysis for 110 … advanced and developing countries. We find that financial depth plays a significant role in dampening the volatility of output … economies, financial depth amplifies consumption and investment volatility. We also find strong evidence that deeper financial …
Persistent link: https://www.econbiz.de/10010790267
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Cyclical Patterns in Government Health Expenditures Between 1995 and 2010
Velenyi, Edit V.; Smitz, Marc F. - Economics Research, World Bank Group - 2014
The 2008-09 global economic crises have shown that no country is immune to external challenges. When policy controls are missing or not used efficiently, crises can reverse progress even in advanced economies. This unexpected outcome has increased concerns about the ability of governments in...
Persistent link: https://www.econbiz.de/10010829327
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The Financial Accelerator: An Emerging Market Story
Hussein, Shah; Saeed, Amna; Hassan, Amer - eSocialSciences - 2011
In support of the financial-accelerator theory, evidence is found on countercyclical price-cost banking margins possibly explaining the amplifications of business cycles in Pakistan. [WP 41]. URL:[http://www.sbp.org.pk/publications/wpapers/2011/wp41.pdf].
Persistent link: https://www.econbiz.de/10009358537
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Preisvolatilität auf landwirtschaftlichen Märkten
von Ledebur, Ernst-Oliver; Schmitz, Jochen - Bundesforschungsinstitut für Lädliche Räume, Wald … - 2011
In this paper, the development of price volatility on German agricultural markets is analyzed. The goal is to quantify … the degree of price volatility for selected German agricultural markets and determine how it evolutes over time. Where …, questions are: Was there an increase in price volatility? Did it came from the world markets? What is the impact of price …
Persistent link: https://www.econbiz.de/10009003989
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Aid and Vulnerability
Presbitero, Andrea Filippo - Money and Finance Research group (Mo.Fi.R.) - 2013
Managing and identifying risks are a key challenge for Low Income Countries (LICs), which are extremely vulnerable to exogenous shocks. However, the use of risk management tools by developing countries is quite limited. The paper discusses in which ways aid could strengthen the capacity of LICs...
Persistent link: https://www.econbiz.de/10010878448
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Markets connectivity and financial contagion
Tedeschi, Gabriele; Gallegati, Mauro; GRILLI, Ruggero - Dipartimento di Scienze Economiche e Sociali, Facoltà … - 2012
In this paper we investigate the sources of instability in credit and financial systems and the effect of credit linkages on the macroeconomic activity. By developing an agent-based model, we analyze the evolving dynamics of the economy as a complex, adaptive and interactive system, which allows...
Persistent link: https://www.econbiz.de/10010878450
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The two greatest. Great recession vs. great moderation
Gadea-Rivas, María Dolores; Gómez-Loscos, Ana; … - Banco de España - 2014
. Through painstaking empirical analysis of the data, this paper shows this is not the case. Output volatility remains subdued … output volatility (the hallmark of the Great Moderation) is associated with weaker recoveries. …
Persistent link: https://www.econbiz.de/10010928919