![Export-Led Growth or Growth-Driven Exports? The Canadian Case](http://s1.studyres.com/store/data/017394670_1-24eb8b024cca1dc5ceaf8b2654f22929-300x300.png)
Export-Led Growth or Growth-Driven Exports? The Canadian Case
... terms of trade defined as export unit value divided by import unit value. Annual data on all variablesare availablefrom 1870 to 1991. Data definitions and sources are listed in the data appendix. Plots of the logarithms of the three time series are shown in figures 1 to 3. Figures 1 and 2 demonstrat ...
... terms of trade defined as export unit value divided by import unit value. Annual data on all variablesare availablefrom 1870 to 1991. Data definitions and sources are listed in the data appendix. Plots of the logarithms of the three time series are shown in figures 1 to 3. Figures 1 and 2 demonstrat ...
Tunisia - Economic and Social Challenges Beyond the Revolution
... compensate the minimum wage level, which was kept low in order to maintain the country’s price competitiveness. As a result, social transfers were maintained at a very high level of 19% of the GDP during the last decade. Yet, the official GDP per capita statistics masked the actual welfare trends of ...
... compensate the minimum wage level, which was kept low in order to maintain the country’s price competitiveness. As a result, social transfers were maintained at a very high level of 19% of the GDP during the last decade. Yet, the official GDP per capita statistics masked the actual welfare trends of ...
Putting Power Back Into Growth Theory
... that if one assumes that production exhibits constant returns to scale, then Euler’s theorem could be used to ‘prove’ that each factor receives payment in exact accordance with its marginal productivity, thus solving the ‘adding up’ problem.3 As a result of this theorem, neoclassical growth theory ( ...
... that if one assumes that production exhibits constant returns to scale, then Euler’s theorem could be used to ‘prove’ that each factor receives payment in exact accordance with its marginal productivity, thus solving the ‘adding up’ problem.3 As a result of this theorem, neoclassical growth theory ( ...
Money Supply
... The relationship between income and the demand for money is described by d2, assumed to be equal to 0.025. In other words, every time income rises by $10, people want to hold another twenty-five cents in “money.” The relationship between the nominal rate of interest and the demand for money is negat ...
... The relationship between income and the demand for money is described by d2, assumed to be equal to 0.025. In other words, every time income rises by $10, people want to hold another twenty-five cents in “money.” The relationship between the nominal rate of interest and the demand for money is negat ...
PDF
... assumes that each year the government continues to divert 6 percent of potential agricultural output from conventional market channels. Government payments to farmers are assumed to continue at the 1969 level. The second alternative involves a gradual elimination of diversions and government payment ...
... assumes that each year the government continues to divert 6 percent of potential agricultural output from conventional market channels. Government payments to farmers are assumed to continue at the 1969 level. The second alternative involves a gradual elimination of diversions and government payment ...
Taylor Rules and Potential Output
... aggregate supply relationship exists) has long been a central concern of macroeconomic research. Lucas (1973) proposes a model in which the effect arises because agents in the economy are unable to distinguish perfectly between aggregate and idiosyncratic shocks. He tests this model at the aggregate ...
... aggregate supply relationship exists) has long been a central concern of macroeconomic research. Lucas (1973) proposes a model in which the effect arises because agents in the economy are unable to distinguish perfectly between aggregate and idiosyncratic shocks. He tests this model at the aggregate ...
Document
... Output falls and prices rise. Policymakers who can influence aggregate demand cannot offset both of these adverse effects simultaneously. ...
... Output falls and prices rise. Policymakers who can influence aggregate demand cannot offset both of these adverse effects simultaneously. ...
Resilience Central and Eastern Europe: Moving up the value chain
... Bulgaria has been setting the pace in seeking alternative sources of investment, as demonstrated by the recent announcement of Chinese investors’ interest in the Burgas industrial zone. Qatari investors, meanwhile, are reportedly considering launching ventures in Bulgaria in areas ranging from agric ...
... Bulgaria has been setting the pace in seeking alternative sources of investment, as demonstrated by the recent announcement of Chinese investors’ interest in the Burgas industrial zone. Qatari investors, meanwhile, are reportedly considering launching ventures in Bulgaria in areas ranging from agric ...
投影片 1 - NCCU
... If T > G, the government runs a budget surplus because it receives more money than it spends. The surplus of T - G represents public saving. If G > T, the government runs a budget deficit because it spends more money than it receives in tax revenue. ...
... If T > G, the government runs a budget surplus because it receives more money than it spends. The surplus of T - G represents public saving. If G > T, the government runs a budget deficit because it spends more money than it receives in tax revenue. ...
executive summary[*] - Centre for Policy Dialogue
... The currently practiced monetary policy has reined in both public as well as private sector credit growth experienced in the recent past. Attempts to sharply bring down the private sector credit growth could have negative impact for productive investment in the private sector which is also likely to ...
... The currently practiced monetary policy has reined in both public as well as private sector credit growth experienced in the recent past. Attempts to sharply bring down the private sector credit growth could have negative impact for productive investment in the private sector which is also likely to ...
Loanable Funds
... Suppose the government borrows $20 billion more next year than this year. Use a supply-demand diagram to analyze this policy. Does the interest rate rise or fall? What happens to investment? To private saving? To public saving? To national saving? How does the elasticity of supply of loanable funds ...
... Suppose the government borrows $20 billion more next year than this year. Use a supply-demand diagram to analyze this policy. Does the interest rate rise or fall? What happens to investment? To private saving? To public saving? To national saving? How does the elasticity of supply of loanable funds ...
direct absorption
... expand production of exportables; 2) Orders for imports are normally made well in advance and such contracts are not readily cancelled in the short run; 3) Factories will be reluctant to cancel orders for vital inputs and raw materials; 4) The payments for many imports will have been hedged against ...
... expand production of exportables; 2) Orders for imports are normally made well in advance and such contracts are not readily cancelled in the short run; 3) Factories will be reluctant to cancel orders for vital inputs and raw materials; 4) The payments for many imports will have been hedged against ...
Identifying Data Requirements
... In addition, some cities find it useful to track a number of socioeconomic indicators at the regional and national levels as well. This wider context is likely to influence the state of the local economy in a city. Box 2.1 indicates the areas in which data can be collected at the local and national ...
... In addition, some cities find it useful to track a number of socioeconomic indicators at the regional and national levels as well. This wider context is likely to influence the state of the local economy in a city. Box 2.1 indicates the areas in which data can be collected at the local and national ...
ECON 105 Macroeconomics Study Questions K. Wainwright Part II
... B) depositors with Canadian dollar accounts in any Canadian financial institution for up to a maximum of $100 000 per institution. C) depositors with Canadian dollar accounts in member institutions for up to a maximum of $60 ...
... B) depositors with Canadian dollar accounts in any Canadian financial institution for up to a maximum of $100 000 per institution. C) depositors with Canadian dollar accounts in member institutions for up to a maximum of $60 ...
Chapter 13: Aggregate Supply and Aggregate Demand
... Typically, firms let demand determine the level of output in the short run. In the long run, prices fully adjust to changes in demand. In the short run, firms have negotiated contracts that keep input prices fixed. Sudden changes in demand will be met by changes in production with only small changes ...
... Typically, firms let demand determine the level of output in the short run. In the long run, prices fully adjust to changes in demand. In the short run, firms have negotiated contracts that keep input prices fixed. Sudden changes in demand will be met by changes in production with only small changes ...
Economic Growth and Poverty Reduction in
... conversion from Marxism-Leninism to capitalism but because of aspirations to achieve longterm improvements in living standards. Global changes are rapidly taking place that create new opportunities for expanding production, employment, and incomes through free markets. This has especially been so in ...
... conversion from Marxism-Leninism to capitalism but because of aspirations to achieve longterm improvements in living standards. Global changes are rapidly taking place that create new opportunities for expanding production, employment, and incomes through free markets. This has especially been so in ...
View/Open
... from 1870 to 1985. Serletis (1992) finds empirical support for the ELG hypothesis in Canada. More recently, Henriques and Sadorsky (1996) also focused on the export and output growth relationship for Canada using just three variables (GDP, exports, and terms of trade). They employ a multivariate coi ...
... from 1870 to 1985. Serletis (1992) finds empirical support for the ELG hypothesis in Canada. More recently, Henriques and Sadorsky (1996) also focused on the export and output growth relationship for Canada using just three variables (GDP, exports, and terms of trade). They employ a multivariate coi ...
Commisslon,
... because the interest and dividend flows to which they give rise are included in current account payments for factor services. In simple terms, a debit representing imports may be balanced by a debit representing borrowing Corn non-residents and credits representing exports may be balanced by foreign ...
... because the interest and dividend flows to which they give rise are included in current account payments for factor services. In simple terms, a debit representing imports may be balanced by a debit representing borrowing Corn non-residents and credits representing exports may be balanced by foreign ...
T.W. Schultz Lecture Accounting for the Poor Robert M. Townsend
... is needed… Fortunately, the intellectual tide has begun to turn. Increasing numbers of economists have come to realize that standard economic theory is just as applicable to the scarcity problems that confront low-income countries as to the corresponding problems of high-income countries,” Schultz s ...
... is needed… Fortunately, the intellectual tide has begun to turn. Increasing numbers of economists have come to realize that standard economic theory is just as applicable to the scarcity problems that confront low-income countries as to the corresponding problems of high-income countries,” Schultz s ...
Econ 102 Fall 2004
... a. the nominal wage may be fixed and independent of output because of labor contracts that last up to three years. b. the real wage remains constant despite changes in output. c. changing the nominal wage can be costly to firms. d. the nominal wage may be set by slow-moving corporate bureaucracies. ...
... a. the nominal wage may be fixed and independent of output because of labor contracts that last up to three years. b. the real wage remains constant despite changes in output. c. changing the nominal wage can be costly to firms. d. the nominal wage may be set by slow-moving corporate bureaucracies. ...
Efficient Redistribution: New Rules for Markets
... come about spontaneously, for if worker ownership of the rm avoids incentive problems and supervision costs, it might be thought that the rm will be worth more to the worker than to the employer, so the worker would pro t by borrowing to purchase the rm's capital stock. But an asset-poor worker c ...
... come about spontaneously, for if worker ownership of the rm avoids incentive problems and supervision costs, it might be thought that the rm will be worth more to the worker than to the employer, so the worker would pro t by borrowing to purchase the rm's capital stock. But an asset-poor worker c ...
Ragnar Nurkse's balanced growth theory
The balanced growth theory is an economic theory pioneered by the economist Ragnar Nurkse (1907–1959). The theory hypothesises that the government of any underdeveloped country needs to make large investments in a number of industries simultaneously. This will enlarge the market size, increase productivity, and provide an incentive for the private sector to invest.Nurkse was in favour of attaining balanced growth in both the industrial and agricultural sectors of the economy. He recognised that the expansion and inter-sectoral balance between agriculture and manufacturing is necessary so that each of these sectors provides a market for the products of the other and in turn, supplies the necessary raw materials for the development and growth of the other.Nurkse and Paul Rosenstein-Rodan were the pioneers of balanced growth theory and much of how it is understood today dates back to their work.Nurkse's theory discusses how the poor size of the market in underdeveloped countries perpetuates its underdeveloped state. Nurkse has also clarified the various determinants of the market size and puts primary focus on productivity. According to him, if the productivity levels rise in a less developed country, its market size will expand and thus it can eventually become a developed economy. Apart from this, Nurkse has been nicknamed an export pessimist, as he feels that the finances to make investments in underdeveloped countries must arise from their own domestic territory. No importance should be given to promoting exports.