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productivity growth, bouts of policy uncertainty, and an erosion of policy buffers. Both structural and cyclical factors have …
Persistent link: https://www.econbiz.de/10011439473
The prescription of optimally managing natural resource revenue windfalls by smoothing consumption across generations using an intergenerational sovereign wealth fund that only invests in foreign assets is not appropriate for resource-rich developing economies. It is better for these economies...
Persistent link: https://www.econbiz.de/10011611262
productivity growth, bouts of policy uncertainty, and an erosion of policy buffers. Both structural and cyclical factors have …
Persistent link: https://www.econbiz.de/10013001608
Objective: The objective of this article is to examine the role of democracy in strengthening the resilience of developing economies in the face of exogenous negative external shocks. Research Design & Methods: To achieve our research objectives, we used the duration model to estimate how...
Persistent link: https://www.econbiz.de/10012803277
As by product of economic growth, jobs are indeed transformational. In other words, efficiency increases as workers get better at what they do (as more productive jobs appear and less productive ones disappear). In fact societies flourish as jobs bring together people from different ethnic and...
Persistent link: https://www.econbiz.de/10013076960
This study aims to examine the absolute and conditional convergence across the 27 EU Member States. To examine the … absolute β convergence was used Baumol model (1986) estimated by OLS and Panel Data, and to examine the absolute σ convergence … the Quah model (1993) by graphical analysis. Subsequently, we analyzed the conditional convergence, also estimated by OLS …
Persistent link: https://www.econbiz.de/10011167233
This paper argues that the empirical trade-growth relationship should be modelled using a dynamic panel data approach and that it is best estimated with Blundell and Bond’s (1999) system-GMM estimator. This procedure remedies some econometric problems such as regressor endogeneity, measurement...
Persistent link: https://www.econbiz.de/10010294545
productivity (TFP), as well as possible government responses to these shocks, in particular, changes in industrial policy. In …
Persistent link: https://www.econbiz.de/10015244904
by 10 p.p. of GDP) and a decline in growth rates of total factor productivity (TFP), as well as possible government …
Persistent link: https://www.econbiz.de/10015244936
The re-distribution of income from labour to capital, from workers to top-managers, and from low income households to the rich has been an important feature of financedominated capitalism since the early 1980s. After the Great Financial Crisis and the Great Recession in 2007-9, the recovery has...
Persistent link: https://www.econbiz.de/10011797482