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export-orientated growth. We use a small open economy DSGE model with a tradable and a non-tradable sector to examine this … the Irish recovery is mostly export-driven with structural reforms playing a very minor role in stimulating growth in the …
Persistent link: https://www.econbiz.de/10011948264
This paper presents a new explanation for the sustained pattern of international net capital flows by modifying the standard consumption capital asset pricing model (CCAPM) to create net capital flows beyond the initial period. In addition to the well established link between asset returns and...
Persistent link: https://www.econbiz.de/10012119780
The role of regulatory quality as one of the so-called deep determinants of growth has emerged as an important issue in … economic research in the past 20 years. The positive or negative growth effects of a countryś regulatory framework are …. Therefore, the two potential determinants to growth might be interlinked. So far there is very little empirical evidence on the …
Persistent link: https://www.econbiz.de/10011298539
average higher volatility of output growth (1) accumulated higher external assets in the long-run and (2) experienced more … procyclical capital outflows over the business cycle than those countries with a same growth rate but a more stable output path …. To explain this finding we provide a theoretical mechanism within a stochastic real business cycle growth model in which …
Persistent link: https://www.econbiz.de/10010386570
average higher volatility of output growth (1) accumulated higher external assets in the long-run and (2) experienced more … procyclical capital outflows over the business cycle than those countries with a same growth rate but a more stable output path …. To explain this finding we provide a theoretical mechanism within a stochastic real business cycle growth model in which …
Persistent link: https://www.econbiz.de/10010433418
This paper discusses some puzzles in the contemporary macroeconomic scene in India, from the perspective of public finance and economic development. These include a fiscal deficit higher than it was during the 1991 crisis, but without a large current account deficit or rise in inflation or...
Persistent link: https://www.econbiz.de/10011520530
During the 2011-2015 period, Turkey's current account deficit as a percentage of GDP was one of the largest among the OECD countries. In this paper, we examine if this deficit can be considered sustainable using the Engel and Rogers (2006) approach. In this framework, the current account of a...
Persistent link: https://www.econbiz.de/10011609959
Zimbabwe faces growth and external competitiveness challenges, as indicated by its low trend growth and investment … 2008 economic collapse and under the current multicurrency regime. While overvaluation hampers GDP growth, as well as … growth and employment in export sectors, we have not found that undervaluation would raise it. Replacing the multicurrency …
Persistent link: https://www.econbiz.de/10010398776
that formal aspects of financial openness generate a strongly positive impact on economic growth and its sources …, productivity growth and capital accumulation. Moreover, there is evidence of a positive contribution to the process stemming from … financial integration on country groups within the EU. -- Financial integration ; economic growth ; productivity ; European …
Persistent link: https://www.econbiz.de/10009510726
that formal aspects of financial openness generate a strongly positive impact on economic growth and its sources …, productivity growth and capital accumulation. Moreover, there is evidence of a positive contribution to the process stemming from …
Persistent link: https://www.econbiz.de/10011374352