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flows to the theory of structural change and unbalanced economic growth (which is predominantly a closed economy framework …).The theory of structural change and unbalanced economic growth takes a contrarian view to the standard growth theoretical models … based on “Kaldor Facts”. This theory states that as an economy grows and accumulates capital, the sector that has more …
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At least since the euro area sovereign debt crisis, it is evident that country risk premium shocks have adverse economic effects, not only in emerging economies, but advanced economies as well. Using a Bayesian Panel Vector Autoregression model, we find that increases in the risk premium lower...
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In a small open developing country context, the author considers a three-sector general equilibrium framework and tries to find out the effects of foreign capital inflow on welfare of the country. Comparative-static results show that foreign capital inflow widens the skilled-unskilled wage gap...
Persistent link: https://www.econbiz.de/10011583766
In a small open developing country context, the author considers a three-sector general equilibrium framework and tries to find out the effects of foreign capital inflow on welfare of the country. Comparative-static results show that foreign capital inflow widens the skilled-unskilled wage gap...
Persistent link: https://www.econbiz.de/10011669502