WORD - UNCTAD Virtual Institute
... 3.3 Arguments against industrial policy ............................................................................. 126 4 Some cases of industrial policies ......................................................................................... 129 4.1 The state as regulator and enabler ......... ...
... 3.3 Arguments against industrial policy ............................................................................. 126 4 Some cases of industrial policies ......................................................................................... 129 4.1 The state as regulator and enabler ......... ...
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... engaged in livestock-keeping, one percent as pure livestock farmers and 35% as crop-livestock mix farmers (GoT, 2007). The sub-sector contributes 5.9% of the country’s Gross Domestic Product. This is low considering the large numbers of livestock kept. The low contribution has been associated with l ...
... engaged in livestock-keeping, one percent as pure livestock farmers and 35% as crop-livestock mix farmers (GoT, 2007). The sub-sector contributes 5.9% of the country’s Gross Domestic Product. This is low considering the large numbers of livestock kept. The low contribution has been associated with l ...
Why Has the Cyclicality of Productivity Changed? What Does It Mean? John G. Fernald and J. Christina Wang
... 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 bus ...
... 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 bus ...
money affects real gdp - Choose your book for Principles of
... How might the use of credit cards have explained the change in M1 velocity from the 1950s to the 1980s? • Increased use of credit cards during this period allowed people to buy more goods and services with less cash and lower demand deposit balances relative to nominal GDP. ...
... How might the use of credit cards have explained the change in M1 velocity from the 1950s to the 1980s? • Increased use of credit cards during this period allowed people to buy more goods and services with less cash and lower demand deposit balances relative to nominal GDP. ...
Is it the income distribution or redistribution that affects growth
... unequal societies will have a higher steady-state growth rate (Castelló-Climent 2010; Kaldor 1957). It could also be that a concentration of capital is crucial for the construction of new activities with high set-up costs (Galor and Tsiddon 1997). In this way, a more unequal society will have a high ...
... unequal societies will have a higher steady-state growth rate (Castelló-Climent 2010; Kaldor 1957). It could also be that a concentration of capital is crucial for the construction of new activities with high set-up costs (Galor and Tsiddon 1997). In this way, a more unequal society will have a high ...
Relative Prices and Sectoral Productivity
... such as Buera and Kaboski (2012) and Ngai and Pissarides (2008). Our paper also relates to a literature emphasizing the role of input-output structure of the economy in development such as Jones (2011) and Herrendorf et al. (2013b). Jones (2011) focuses on the role of intermediate inputs for aggrega ...
... such as Buera and Kaboski (2012) and Ngai and Pissarides (2008). Our paper also relates to a literature emphasizing the role of input-output structure of the economy in development such as Jones (2011) and Herrendorf et al. (2013b). Jones (2011) focuses on the role of intermediate inputs for aggrega ...
The Macroeconomic Effects of Public Investment: Evidence from
... Six years after the global financial crisis, the recovery in many advanced economies remains tepid. There are now worries that demand will remain persistently weak—a possibility that has been described as “secular stagnation” (Summers 2013; Teulings and Baldwin 2014). One response that is being cons ...
... Six years after the global financial crisis, the recovery in many advanced economies remains tepid. There are now worries that demand will remain persistently weak—a possibility that has been described as “secular stagnation” (Summers 2013; Teulings and Baldwin 2014). One response that is being cons ...
National Income: Concept and measurement
... the light of the definition put forth by Pigou, one has to unnecessarily differentiate between commodities, which can and which cannot be exchanged for money. But in actuality there is no difference in the fundamental forms of such commodities, no matter they can be exchanged for money. Second, acco ...
... the light of the definition put forth by Pigou, one has to unnecessarily differentiate between commodities, which can and which cannot be exchanged for money. But in actuality there is no difference in the fundamental forms of such commodities, no matter they can be exchanged for money. Second, acco ...
Or is there reverse causality direction from
... with these technologies such as computer, network hardware and software. From the beginning of 1980s, when the information age was initiated, the world witnessed plenty of researches by applying numerous methodologies to evaluate the contribution of ICT to economic prosperity. Although, the prelimin ...
... with these technologies such as computer, network hardware and software. From the beginning of 1980s, when the information age was initiated, the world witnessed plenty of researches by applying numerous methodologies to evaluate the contribution of ICT to economic prosperity. Although, the prelimin ...
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... However, the economic performance did not prosper under the Open Door policy. The majority of private funds were spent in tourism investments, private luxury construction projects and the financial industry. Little was directed to industrialization and the total industrial activity declined. Due to ...
... However, the economic performance did not prosper under the Open Door policy. The majority of private funds were spent in tourism investments, private luxury construction projects and the financial industry. Little was directed to industrialization and the total industrial activity declined. Due 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 ...
Development - Western Washington University
... What variables are used to create the Human Development Index (HDI). What does it describe. What continent generally has the lowest HDI measures? What two continents have the highest level? Compare HDI to per capita income ...
... What variables are used to create the Human Development Index (HDI). What does it describe. What continent generally has the lowest HDI measures? What two continents have the highest level? Compare HDI to per capita income ...
the dynamics of innovation and investment
... The cause of innovation clustering and the subsequent bunching of investment (“clustbun”) is a matter of debate (see Freeman 1994, 86–9), but the Kaleckian feature of expanded reproduction has not been recognized by the protagonists in this debate. Clustering requires depressions or technological br ...
... The cause of innovation clustering and the subsequent bunching of investment (“clustbun”) is a matter of debate (see Freeman 1994, 86–9), but the Kaleckian feature of expanded reproduction has not been recognized by the protagonists in this debate. Clustering requires depressions or technological br ...
Garrison Lect-1. 4 Hayek and Friedman
... How Methods Shape Substance: A Summary For Hayek, the ABCT is fundamentally a theory of the unsustainable boom. Accounting for the actual depth and length of the depression that ensues requires an economic and historical account of each particular episode. For Friedman, the analysis of a business cy ...
... How Methods Shape Substance: A Summary For Hayek, the ABCT is fundamentally a theory of the unsustainable boom. Accounting for the actual depth and length of the depression that ensues requires an economic and historical account of each particular episode. For Friedman, the analysis of a business cy ...
Growth and competitiveness in the United States: The
... shifting. The United States retains many strengths that make it one of the most attractive markets for multinational companies’ participation and investments. But numerous fast-growing emerging markets and some advanced economies are making huge strides in increasing their attractiveness, and are th ...
... shifting. The United States retains many strengths that make it one of the most attractive markets for multinational companies’ participation and investments. But numerous fast-growing emerging markets and some advanced economies are making huge strides in increasing their attractiveness, and are th ...
The Role of Firm-Level Productivity Growth for the Optimal Rate of
... long-run inflation rate is between 0.5% and 1.5% per year. The model is calibrated to the US economy, and the calibration relies on firm-level data. The positive optimal inflation rate arises from the learning-by-doing dynamics in new firms. In a version of the model without learning by doing, the o ...
... long-run inflation rate is between 0.5% and 1.5% per year. The model is calibrated to the US economy, and the calibration relies on firm-level data. The positive optimal inflation rate arises from the learning-by-doing dynamics in new firms. In a version of the model without learning by doing, the o ...
The Impact of the Global Financial Crisis on the Least Developed
... • The trade channel.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 • Decline in capital inflows.. .. . ...
... • The trade channel.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 • Decline in capital inflows.. .. . ...
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.