![On the Opportunity Cost of Corruption](http://s1.studyres.com/store/data/017407477_1-19fd237a780cf4b2ff440c8b5f475fea-300x300.png)
On the Opportunity Cost of Corruption
... enforcement, although inveighing against corruption is one thing, while exerting the costly resources needed to combat it is another. For example in China corruption is often a capital offense, and while harsh prison sentences and even executions are fairly common, China is still thought to have a g ...
... enforcement, although inveighing against corruption is one thing, while exerting the costly resources needed to combat it is another. For example in China corruption is often a capital offense, and while harsh prison sentences and even executions are fairly common, China is still thought to have a g ...
NBER WORKING PAPER SERIES INCOME DISPERSION AND COUNTER-CYCLICAL MARKUPS Chris Edmond Laura Veldkamp
... capital hurts the performance of the model by making aggregates too correlated with GDP. A number of other mechanisms can generate counter-cyclical markups. One possibility is that sticky prices and pro-cyclical marginal costs make the difference between price and cost, the markup, counter-cyclical. ...
... capital hurts the performance of the model by making aggregates too correlated with GDP. A number of other mechanisms can generate counter-cyclical markups. One possibility is that sticky prices and pro-cyclical marginal costs make the difference between price and cost, the markup, counter-cyclical. ...
Middle East Real Estate Predictions: Dubai 2015
... experienced relatively strong growth in average sales prices (albeit from a lower base), as purchasers may have been priced out of the more prime areas. Prime Palm Jumeirah villas witnessed continued strong growth driven by limited availability of stock, whilst Business Bay prices were unchanged, mo ...
... experienced relatively strong growth in average sales prices (albeit from a lower base), as purchasers may have been priced out of the more prime areas. Prime Palm Jumeirah villas witnessed continued strong growth driven by limited availability of stock, whilst Business Bay prices were unchanged, mo ...
WHY FOREIGN SAVINGS FAIL TO CAUSE GROWTH Luiz Carlos Bresser-Pereira Paulo Gala
... See Hollis Chenery and Michael Bruno (1962), “Development alternatives in an open economy: the case of Israel”. It should be observed that our criticism is not directed to this particular paper, since Israel presented the necessary investments opportunities to make feasible the growth with foreign s ...
... See Hollis Chenery and Michael Bruno (1962), “Development alternatives in an open economy: the case of Israel”. It should be observed that our criticism is not directed to this particular paper, since Israel presented the necessary investments opportunities to make feasible the growth with foreign s ...
Challenges and prospects of Foreing Direct
... The role of foreign direct investment in the country's economic development is widely debated. It is noticed that FDI plays an essential contribution to the development processes of a country. Also, a lot of empirical studies acknowledge that the role of FDI in economic growth and development of hos ...
... The role of foreign direct investment in the country's economic development is widely debated. It is noticed that FDI plays an essential contribution to the development processes of a country. Also, a lot of empirical studies acknowledge that the role of FDI in economic growth and development of hos ...
CHAP1.WP (Word5)
... autonomous planned spending and hence income to rise. The lower interest rate and the higher income work jointly to increase the demand for money. However, a lower interest rate will have less effect on the demand for money the lower its interest responsiveness. Thus, as the interest responsiveness ...
... autonomous planned spending and hence income to rise. The lower interest rate and the higher income work jointly to increase the demand for money. However, a lower interest rate will have less effect on the demand for money the lower its interest responsiveness. Thus, as the interest responsiveness ...
Chapter 21 - McGraw Hill Higher Education
... • When current inflation is high or current output is running above potential output, central bankers will set a relatively high policy interest rate. • When current inflation is low or current output is well below potential, they will set a low policy interest rate. • While they state their policie ...
... • When current inflation is high or current output is running above potential output, central bankers will set a relatively high policy interest rate. • When current inflation is low or current output is well below potential, they will set a low policy interest rate. • While they state their policie ...
THE DEMAND FOR MONEY
... Money is the medium of exchange and the final payment in most transactions involves the transfer of money. But this alone is not enough to generate a demand for money. To see why, suppose that there are two assets in the economy: bonds that pay risk free interest and money that bears no interest, bu ...
... Money is the medium of exchange and the final payment in most transactions involves the transfer of money. But this alone is not enough to generate a demand for money. To see why, suppose that there are two assets in the economy: bonds that pay risk free interest and money that bears no interest, bu ...
Why foreign savings fail to cause growth - Bresser
... promoting such a development. For some very backward countries, with very low capital accumulation rates, this was an obvious alternative. It also seemed reasonable to be applied to middle income countries. Between the 30's and the 60's, however, this proposition was not put into practice since the ...
... promoting such a development. For some very backward countries, with very low capital accumulation rates, this was an obvious alternative. It also seemed reasonable to be applied to middle income countries. Between the 30's and the 60's, however, this proposition was not put into practice since the ...
Structural Transformation and Economic Development. Can
... Table 5.6. Classification of Manufacturing exports by average level of income elasticity ......................... 136 Table 5.7. Descriptive statistics. Trade variables .................................................................................. 140 Table 5.8. Hausman’s (1978) specification t ...
... Table 5.6. Classification of Manufacturing exports by average level of income elasticity ......................... 136 Table 5.7. Descriptive statistics. Trade variables .................................................................................. 140 Table 5.8. Hausman’s (1978) specification t ...
Economic growth, employment, and poverty reduction linkages: The
... a necessary condition that brings about an increase in income, which, in turn, pushes people out of poverty. In a celebrated study, Dollar and Kraay (2002) argue that “Growth is Good for the Poor” because when they tried to find a statistical association between the growth of average income of the t ...
... a necessary condition that brings about an increase in income, which, in turn, pushes people out of poverty. In a celebrated study, Dollar and Kraay (2002) argue that “Growth is Good for the Poor” because when they tried to find a statistical association between the growth of average income of the t ...
Attaining Middle Income Status - Tanzania
... Tanzania is no exception: over the past 10 years, output per agricultural worker grew at a rate of only 3.4% per year (own calculation using ES (2009) data). Other economic variables may need to grow in proportion to GDP to enable this structural transformation: the model suggests that exports need ...
... Tanzania is no exception: over the past 10 years, output per agricultural worker grew at a rate of only 3.4% per year (own calculation using ES (2009) data). Other economic variables may need to grow in proportion to GDP to enable this structural transformation: the model suggests that exports need ...
Why Are There MNEs?
... There are essentially two types of private international capital flows. The first (and by far the larger) type is portfolio investment, or financial capital moving in search of higher returns. Such capital moves, in theory, until riskadjusted dollar returns are equalized. The issues that matter for ...
... There are essentially two types of private international capital flows. The first (and by far the larger) type is portfolio investment, or financial capital moving in search of higher returns. Such capital moves, in theory, until riskadjusted dollar returns are equalized. The issues that matter for ...
Principles of Economics, Case and Fair,9e
... 3. A second important determinant of investment is cost. Because capital equipment usually lasts a number of years and is expensive, firms typically finance investment projects by borrowing. Therefore, interest rates are an important cost associated with investment. An additional cost factor related ...
... 3. A second important determinant of investment is cost. Because capital equipment usually lasts a number of years and is expensive, firms typically finance investment projects by borrowing. Therefore, interest rates are an important cost associated with investment. An additional cost factor related ...
The effects of EU aid on receiving and sending countries
... Output in Africa would be 2.5 per cent higher, and output in the other developing regions would be expected to rise by ¼ - ¾ per cent after 10 years. This is based on an assumption of a 20 per cent social rate of return (rise in economy-wide productivity) if aid is channelled effectively in the reci ...
... Output in Africa would be 2.5 per cent higher, and output in the other developing regions would be expected to rise by ¼ - ¾ per cent after 10 years. This is based on an assumption of a 20 per cent social rate of return (rise in economy-wide productivity) if aid is channelled effectively in the reci ...
The Role of Infrastructure in Pakistan's Economic Development: 1972- 1991 Looney, R.E.
... basic infrastructural facilities in potential_ development areas. Transport, for example. can be a limiting factor without which no development process could take off even if other development inducing factors were in play. Beyond this point. opinions on infrastructure's role in socioeconomic develo ...
... basic infrastructural facilities in potential_ development areas. Transport, for example. can be a limiting factor without which no development process could take off even if other development inducing factors were in play. Beyond this point. opinions on infrastructure's role in socioeconomic develo ...
IN THIS ISSUE: Agricultural trade reform and poverty in the
... Agricultural trade liberalization and its effect on developing economies have long been issues of contention in international trade negotiations, and the Doha Development Agenda is no exception. Key concerns include the potential for aggregate harm through preference erosion, that small economies de ...
... Agricultural trade liberalization and its effect on developing economies have long been issues of contention in international trade negotiations, and the Doha Development Agenda is no exception. Key concerns include the potential for aggregate harm through preference erosion, that small economies de ...
Why Has the Cyclicality of Productivity Changed? What Does It Mean?
... cyclicality. But tests of this hypothesis suffer inherently from data limitations. The reasons for earlier procyclicality, and the shift towards countercyclicality, have implications for business-cycle modeling. First, the evidence has not been kind to the original RBC view that business cycles are ...
... cyclicality. But tests of this hypothesis suffer inherently from data limitations. The reasons for earlier procyclicality, and the shift towards countercyclicality, have implications for business-cycle modeling. First, the evidence has not been kind to the original RBC view that business cycles are ...
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.