Development and Structural Transformation: The Lewis Model
... Fact of life: agricultural production is limited by scarcity of land Industry and services not limited by any such fixed factor Technical progress and rising worker skills raise productivity in industry and services far more than in agriculture Hence development typically goes hand-in-hand with indu ...
... Fact of life: agricultural production is limited by scarcity of land Industry and services not limited by any such fixed factor Technical progress and rising worker skills raise productivity in industry and services far more than in agriculture Hence development typically goes hand-in-hand with indu ...
Public Policy and Economic Growth: Some Insights into the
... uncompetitive economies, increasing dependence on food imports, low savings rates, high levels of public debt and falling levels of foreign aid create a daunting challenge for these states. Yet it is difficult to discern an objective and unemotional discussion on the economic concepts traditionally ...
... uncompetitive economies, increasing dependence on food imports, low savings rates, high levels of public debt and falling levels of foreign aid create a daunting challenge for these states. Yet it is difficult to discern an objective and unemotional discussion on the economic concepts traditionally ...
ecomacro2005_avec_co..
... The globalisation trend: a European perspective Facts & figures, growing importance of emerging economies, the threat of US deficits ...
... The globalisation trend: a European perspective Facts & figures, growing importance of emerging economies, the threat of US deficits ...
IB Economics Scheme of Work for Macro
... (LRAS) is vertical at the level of potential output (full employment output) because aggregate supply in the long run is independent of the price level. • Explain, using a diagram that the Keynesian model of the aggregate supply curves has three sections because of “wage/price” downward inflexibilit ...
... (LRAS) is vertical at the level of potential output (full employment output) because aggregate supply in the long run is independent of the price level. • Explain, using a diagram that the Keynesian model of the aggregate supply curves has three sections because of “wage/price” downward inflexibilit ...
STAGES-2005
... Another robustness test is to use a different indicator of the institutional quality – the investment climate index (RISK), average for 1984-90. GROWTH = CONST. + CONTR. VAR.+ Gpol (0.086RISK – 0.06Ycap75us – 3.12), where N=65, R2 = 44, all coefficients significant at less than 10% level, contro ...
... Another robustness test is to use a different indicator of the institutional quality – the investment climate index (RISK), average for 1984-90. GROWTH = CONST. + CONTR. VAR.+ Gpol (0.086RISK – 0.06Ycap75us – 3.12), where N=65, R2 = 44, all coefficients significant at less than 10% level, contro ...
"Bad News" on the Trade Deficit
... By the most basic measure of economic performance, the change in real GDP, evidence points to a stronger economy in years in which the current account deficit is rising. In those years since 1980 when the current account deficit declined as a share of GDP, the economy grew each year by an average of ...
... By the most basic measure of economic performance, the change in real GDP, evidence points to a stronger economy in years in which the current account deficit is rising. In those years since 1980 when the current account deficit declined as a share of GDP, the economy grew each year by an average of ...
Lack of regional convergence
... of low technological opportunities, and slow growth of the market. On the share of ‘industry’ in total employment the expectations are less clear. Traditionally this sector – particularly manufacturing – has been regarded as an ‘engine of growth’ (Kaldor, 1967). However, technological progress in re ...
... of low technological opportunities, and slow growth of the market. On the share of ‘industry’ in total employment the expectations are less clear. Traditionally this sector – particularly manufacturing – has been regarded as an ‘engine of growth’ (Kaldor, 1967). However, technological progress in re ...
Forecasting growth in eastern Europe and central Asia
... growth in the EBRD region. The main aim is to develop and test forecasting tools, rather than policy analysis tools, for as wide a range of countries as possible. These models, of course, are only one input into final EBRD forecasts. They are mainly designed to capture the impact of the external env ...
... growth in the EBRD region. The main aim is to develop and test forecasting tools, rather than policy analysis tools, for as wide a range of countries as possible. These models, of course, are only one input into final EBRD forecasts. They are mainly designed to capture the impact of the external env ...
The effect of the stock exchange on economic growth: a case of the
... that share market makes it possible for the economy to ensure long-term commitments in real capital. For that reason, level of efficiency measurement of the stock market is very important to investors, policy makers and other major players, who ensure long-term real capital in an economy. Maturity o ...
... that share market makes it possible for the economy to ensure long-term commitments in real capital. For that reason, level of efficiency measurement of the stock market is very important to investors, policy makers and other major players, who ensure long-term real capital in an economy. Maturity o ...
Part I Overview and Poverty Impact of Main Macroeconomic Policies
... agenda of developing countries, while, following the adoption of the Millennium Development Goals, the achievement of quantitative targets in these areas has become the main goal of international development. The ability to achieve such goals, and in particular the goal of halving the incidence of i ...
... agenda of developing countries, while, following the adoption of the Millennium Development Goals, the achievement of quantitative targets in these areas has become the main goal of international development. The ability to achieve such goals, and in particular the goal of halving the incidence of i ...
China Region Economic Growth Convergence and Its Mechanism
... growth ratio is in proportion to the degree of national economics departing from its equilibrium, where national economic characteristics are considered. On this base, Durlauf and Johnson (1996) bring forward Club Convergence, meaning that the economic growth ratio of the club members of similar eco ...
... growth ratio is in proportion to the degree of national economics departing from its equilibrium, where national economic characteristics are considered. On this base, Durlauf and Johnson (1996) bring forward Club Convergence, meaning that the economic growth ratio of the club members of similar eco ...
Rebalancing Act: Global Imbalances in a Changing World
... global imbalances took place, the world had been confronting unusually large current account imbalances for so long that international policymakers had almost stopped warning that these misalignments represented a major risk to the world economic outlook. Almost—but not completely. To avoid accusati ...
... global imbalances took place, the world had been confronting unusually large current account imbalances for so long that international policymakers had almost stopped warning that these misalignments represented a major risk to the world economic outlook. Almost—but not completely. To avoid accusati ...
Measures of well-being - There is more to it than GDP
... measures the market value of final goods and services produced in a country. The development of the national income and product accounts was spurred by the Great Depression and the lack of information that could be used for stabilising the economy through fiscal or monetary policy. The first officia ...
... measures the market value of final goods and services produced in a country. The development of the national income and product accounts was spurred by the Great Depression and the lack of information that could be used for stabilising the economy through fiscal or monetary policy. The first officia ...
Is the Export-Led Growth Hypothesis Valid for Developing countries
... 1986. Consequently, oil exports ceased to be a major factor in Mexican growth during the period of low real oil prices from about 1987 through 1999 (Blecker, 2006). In more recent times, there has been renewed importance of oil export revenue as a result of increasing global prices since 2000. Thus, ...
... 1986. Consequently, oil exports ceased to be a major factor in Mexican growth during the period of low real oil prices from about 1987 through 1999 (Blecker, 2006). In more recent times, there has been renewed importance of oil export revenue as a result of increasing global prices since 2000. Thus, ...
FRBSF E L
... Thus far, the analysis of residual seasonality has only focused on real GDP data. However, a key measure of prices—the price index for personal consumption expenditures (PCE)—is also seasonally adjusted by the BEA using the same methodology that it uses to construct GDP. As a result, it would not be ...
... Thus far, the analysis of residual seasonality has only focused on real GDP data. However, a key measure of prices—the price index for personal consumption expenditures (PCE)—is also seasonally adjusted by the BEA using the same methodology that it uses to construct GDP. As a result, it would not be ...
Hungary, Slovakia and the Czech Republic: Longer
... The parameters of equations underlying the growth rate projections tend to be derived econometrically from large heterogeneous panels, with data on the past performance of many countries largely unrelated to Central and Eastern Europe (and to Europe generally). In a recent study by Wagner and Hlousk ...
... The parameters of equations underlying the growth rate projections tend to be derived econometrically from large heterogeneous panels, with data on the past performance of many countries largely unrelated to Central and Eastern Europe (and to Europe generally). In a recent study by Wagner and Hlousk ...
OECD Work on Science, Technology and Innovation
... • Improve the design of R&D tax incentives, to ensure they provide value for money: – Some policies, e.g. R&D tax credits, can slow down reallocation and productivity growth in a country if they favour incumbents relative to startups (design is key) – R&D tax incentives might be primarily subsiding ...
... • Improve the design of R&D tax incentives, to ensure they provide value for money: – Some policies, e.g. R&D tax credits, can slow down reallocation and productivity growth in a country if they favour incumbents relative to startups (design is key) – R&D tax incentives might be primarily subsiding ...
2.1 Democracy and state capacity
... dictators’ siphon wealth from the budget for personal consumption and paying their winning coalitions. This is far easier to do for dictators in weakly institutionalized states, where political power is tied to person rather than institutional role. In the absence of strong and independent state ins ...
... dictators’ siphon wealth from the budget for personal consumption and paying their winning coalitions. This is far easier to do for dictators in weakly institutionalized states, where political power is tied to person rather than institutional role. In the absence of strong and independent state ins ...
TOURISM AS A LONG-RUN ECONOMIC GROWTH FACTOR: AN
... showed that tourism may be welfare reducing in a monopoly power, while Hazari and Kaur (1995) argued that tourism is always welfare improving using a Komiya (1967) type first-best model. More recently Hazari and Sgro (1995) developed a dynamic model in which a favorable impact of a buoyant world dem ...
... showed that tourism may be welfare reducing in a monopoly power, while Hazari and Kaur (1995) argued that tourism is always welfare improving using a Komiya (1967) type first-best model. More recently Hazari and Sgro (1995) developed a dynamic model in which a favorable impact of a buoyant world dem ...
Economic growth
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Of more importance is the growth of the ratio of GDP to population (GDP per capita, which is also called per capita income). An increase in growth caused by more efficient use of inputs (such as physical capital, population, or territory) is referred to as intensive growth. GDP growth caused only by increases in the amount of inputs available for use is called extensive growth.In economics, ""economic growth"" or ""economic growth theory"" typically refers to growth of potential output, i.e., production at ""full employment"". As an area of study, economic growth is generally distinguished from development economics. The former is primarily the study of how countries can advance their economies. The latter is the study of the economic development process particularly in low-income countries.Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure.