Economic Growth in a Cross Section of Countries
... The data are from Summers and Heston [1988], the United Nations, the World Bank, Banks's [I9791 data base, and some other sources. Barro and Wolf [I9891 provide details on the data set.4Means and standard deviations appear in Appendix 1; definitions for all variables appear in Appendix 2; and a list ...
... The data are from Summers and Heston [1988], the United Nations, the World Bank, Banks's [I9791 data base, and some other sources. Barro and Wolf [I9891 provide details on the data set.4Means and standard deviations appear in Appendix 1; definitions for all variables appear in Appendix 2; and a list ...
Maladjusted African Economies and Globalisation Thandika Mkandawire Director,
... of growth and, their labelling notwithstanding, have not induced structural transformation. Indeed, the combined effect of internal political disarray, the weakening of domestic capacities, deflationary policies and slow world economic growth have placed African economies on a “low equilibrium growt ...
... of growth and, their labelling notwithstanding, have not induced structural transformation. Indeed, the combined effect of internal political disarray, the weakening of domestic capacities, deflationary policies and slow world economic growth have placed African economies on a “low equilibrium growt ...
The Impact of the Global Financial Crisis on Southeastern European
... variables, except openness, affect growth positively. Openness has an inverse relationship with growth. Being more integrated resulted in significant effects of global crisis in Bulgaria. In the case of Croatia, exports are found to be a significant transmission channel of the global crisis, whereas ...
... variables, except openness, affect growth positively. Openness has an inverse relationship with growth. Being more integrated resulted in significant effects of global crisis in Bulgaria. In the case of Croatia, exports are found to be a significant transmission channel of the global crisis, whereas ...
10.04 The International Effects of China`s Growth, Trade and
... each country. Both regions are modeled as small open economies with respect to the Rest of the World (ROW), but not with respect to each other. Thus growth in China, for example, will have an impact on prices in the USA. The appendix also briefly describes the model used in this paper in a non techn ...
... each country. Both regions are modeled as small open economies with respect to the Rest of the World (ROW), but not with respect to each other. Thus growth in China, for example, will have an impact on prices in the USA. The appendix also briefly describes the model used in this paper in a non techn ...
Productivity Growth and Capital Flows: The Dynamics of Reforms Francisco J. Buera
... the idiosyncratic distortions that interfere with efficient allocation of factors across entrepreneurs. At the same time, we liberalize the goods and capital flows in and out of this economy. We assume that domestic financial frictions remain as before. This sequencing of reforms—removing idiosyncra ...
... the idiosyncratic distortions that interfere with efficient allocation of factors across entrepreneurs. At the same time, we liberalize the goods and capital flows in and out of this economy. We assume that domestic financial frictions remain as before. This sequencing of reforms—removing idiosyncra ...
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... Future of Capitalism, Financial Times, March 10, 2009, pp. 9. [Some] of the leading figures in central banking conceded they were flying blind when steering their economies. Lorenzo Bini Smaghi, the former member of the European Central Bank’s executive board, captured the mood at the IMF’s spring m ...
... Future of Capitalism, Financial Times, March 10, 2009, pp. 9. [Some] of the leading figures in central banking conceded they were flying blind when steering their economies. Lorenzo Bini Smaghi, the former member of the European Central Bank’s executive board, captured the mood at the IMF’s spring m ...
The integration of China and India into the world economy: a
... up. India has rapidly developed its exports of services which in 2006 represented 17% of the value added of the sector, twice as much as in China (Table 3). International trade in services is relatively more important for India (it represents 6% of GDP in 2005) than for China’s (4% of GDP). For Indi ...
... up. India has rapidly developed its exports of services which in 2006 represented 17% of the value added of the sector, twice as much as in China (Table 3). International trade in services is relatively more important for India (it represents 6% of GDP in 2005) than for China’s (4% of GDP). For Indi ...
Business Essentials 6e
... The External Environments of Business External Environment Everything outside an organization’s boundaries that ...
... The External Environments of Business External Environment Everything outside an organization’s boundaries that ...
p.43 (3, 6-9)
... general conditions in labor markets and the economy as a whole, but is usually focused on the economy’s use of its human resources. Even then it is recognized that under conditions of full employment there is unemployed labor. There is also the potential for confusion as the concept applies to the l ...
... general conditions in labor markets and the economy as a whole, but is usually focused on the economy’s use of its human resources. Even then it is recognized that under conditions of full employment there is unemployed labor. There is also the potential for confusion as the concept applies to the l ...
exemplars and commentary
... The workers’ demand for goods and services will increase overall so consumption spending will increase (C), increasing AD because (C) is a component of AD, the AD curve has shifted to the right to AD1 as seen on the model. If there is an increase in demand for milk/milk products, dairy farmers’ inco ...
... The workers’ demand for goods and services will increase overall so consumption spending will increase (C), increasing AD because (C) is a component of AD, the AD curve has shifted to the right to AD1 as seen on the model. If there is an increase in demand for milk/milk products, dairy farmers’ inco ...
Turkish Middle Income Trap and Less Skilled Human Capital September 2014
... focusing on the role of well-designed and high quality education system to avoid the trap. When we compare Turkey’s human capital to human capital in non-trapped countries, we observe that Turkish education system will be critical to break out the trap. An education system that is consistent with de ...
... focusing on the role of well-designed and high quality education system to avoid the trap. When we compare Turkey’s human capital to human capital in non-trapped countries, we observe that Turkish education system will be critical to break out the trap. An education system that is consistent with de ...
Global Cities as Drivers of World Economy Globalization
... interactions, and keep the function of "entrance gate" for multinational business. Cities of the third category have a global status, and have ability to influence on the world economy progress. However, taking in account a low quality of their urban governance, we can suggest that global impact of ...
... interactions, and keep the function of "entrance gate" for multinational business. Cities of the third category have a global status, and have ability to influence on the world economy progress. However, taking in account a low quality of their urban governance, we can suggest that global impact of ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... Basic metals and electrical machinery increased their shares substantially because of the very rapid rate of growth achieved since 1959. This change reflects, on the one hand, the relative success of the early import substitution strategy and, on the other, the advent of the strong drive toward a gr ...
... Basic metals and electrical machinery increased their shares substantially because of the very rapid rate of growth achieved since 1959. This change reflects, on the one hand, the relative success of the early import substitution strategy and, on the other, the advent of the strong drive toward a gr ...
Silvia Fedeli* –Francesco Forte° – Ottavio Ricchi^
... spending. This too is the wrong approach. We should avoid a simplistic austerity to follow the simplistic stimulus of last year. […] First, governments should work within a medium-term budget framework of five years, and within a decadelong strategy on economic transformation. Deficit cutting should ...
... spending. This too is the wrong approach. We should avoid a simplistic austerity to follow the simplistic stimulus of last year. […] First, governments should work within a medium-term budget framework of five years, and within a decadelong strategy on economic transformation. Deficit cutting should ...
2015 Intergenerational Report
... To drive higher levels of prosperity through economic growth, we must increase productivity and participation. If we are to achieve these goals we need to encourage those currently not in the workforce, especially older Australians and women, to enter, re‑enter and stay in work, where they choose to ...
... To drive higher levels of prosperity through economic growth, we must increase productivity and participation. If we are to achieve these goals we need to encourage those currently not in the workforce, especially older Australians and women, to enter, re‑enter and stay in work, where they choose to ...
development strategies and poverty reduction
... to 2005/06, growth in the economy averaged 8.0 per cent in real times. The growth of nonmining over the same period, on the other hand, was 6.8 per cent. However, within the nonmining economy, it is obvious from Tables 1 and 2 that with the exception of agriculture, growth was spread fairly evenly ...
... to 2005/06, growth in the economy averaged 8.0 per cent in real times. The growth of nonmining over the same period, on the other hand, was 6.8 per cent. However, within the nonmining economy, it is obvious from Tables 1 and 2 that with the exception of agriculture, growth was spread fairly evenly ...
Document
... ■ Threat of double-dip means renewed slump in asset prices as Eurozone sovereign debt crisis re-emerges ■ Pressure to cut budget deficits rapidly in all major economies ■ Rising unemployment and business failures feed back into banking ■ Limited scope for monetary policy offset ...
... ■ Threat of double-dip means renewed slump in asset prices as Eurozone sovereign debt crisis re-emerges ■ Pressure to cut budget deficits rapidly in all major economies ■ Rising unemployment and business failures feed back into banking ■ Limited scope for monetary policy offset ...
Transformation in economics
Transformation in economics refers to a long-term change in dominant economic activity in terms of prevailing relative engagement or employment of able individuals.Human economic systems undergo a number of deviations and departures from the ""normal"" state, trend or development. Among them are Disturbance (short-term disruption, temporary disorder), Perturbation (persistent or repeated divergence, predicament, decline or crisis), Deformation (damage, regime change, loss of self-sustainability, distortion), Transformation (long-term change, restructuring, conversion, new “normal”) and Renewal (rebirth, transmutation, corso-ricorso, renaissance, new beginning).Transformation is a unidirectional and irreversible change in dominant human economic activity (economic sector). Such change is driven by slower or faster continuous improvement in sector productivity growth rate. Productivity growth itself is fueled by advances in technology, inflow of useful innovations, accumulated practical knowledge and experience, levels of education, viability of institutions, quality of decision making and organized human effort. Individual sector transformations are the outcomes of human socio-economic evolution.Human economic activity has so far undergone at least four fundamental transformations:From nomadic hunting and gathering (H/G) to localized agricultureFrom localized agriculture (A) to internationalized industryFrom international industry (I) to global servicesFrom global services (S) to public sector (including government, welfare and unemployment, GWU)This evolution naturally proceeds from securing necessary food, through producing useful things, to providing helpful services, both private and public (See H/G→A→I→S→GWU sequence in Fig. 1). Accelerating productivity growth rates speed up the transformations, from millennia, through centuries, to decades of the recent era. It is this acceleration which makes transformation relevant economic category of today, more fundamental in its impact than any recession, crisis or depression. The evolution of four forms of capital (Indicated in Fig. 1) accompanies all economic transformations.Transformation is quite different from accompanying cyclical recessions and crises, despite the similarity of manifested phenomena (unemployment, technology shifts, socio-political discontent, bankruptcies, etc.). However, the tools and interventions used to combat crisis are clearly ineffective for coping with non-cyclical transformations. The problem is whether we face a mere crisis or a fundamental transformation (globalization→relocalization).