Download or read book We Just Averaged over Two Trillion Cross Country Growth Regressions written by Mr.Eduardo Ley and published by International Monetary Fund. This book was released on 1999-07-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the issue of model uncertainty in cross-country growth regressions using Bayesian model averaging (BMA). We find that the posterior probability is distributed among many models, suggesting the superiority of BMA over any single model. Out-of-sample predictive results support that claim. In contrast with Levine and Renelt (1992), our results broadly support the more “optimistic” conclusion of Sala-i-Martin (1997b), namely, that some variables are important regressors for explaining cross-country growth patterns. However, the variables we identify as most useful for growth regression differ substantially from Sala-i-Martin’s results.
Download or read book We Just Averaged Over Two Trillion Cross country Growth Regressions written by Eduardo Levy Yeyati and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Sensitivity Analysis of Cross country Growth Regressions written by Ross Levine and published by . This book was released on 1991 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: A vast literature uses cross-country regressions to find empirical links between policy indicators and long-run average growth rates. But conclusions from those studies are fragile if there are small changes in the independent variables.
Download or read book Explaining Growth written by G. McMahon and published by Springer. This book was released on 2003-08-19 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explaining Growth attempts to compile the most comprehensive assessment of growth in developing and transition countries. The first phase has sought to review and discover broad similarities and comparable experiences in six regions spanning the developing world. In each region, studies were undertaken on sources of growth, markets and growth, microeconomic determinants of growth, and the political economy of growth. These reviews provide the framework for the in-depth country case studies in Phase II. This volume summarizes the main results of the regional analyses and sets the stage for the country studies.
Download or read book Is Digital Financial Inclusion Unlocking Growth written by Purva Khera and published by International Monetary Fund. This book was released on 2021-06-11 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Digital financial services have been a key driver of financial inclusion in recent years. While there is evidence that financial inclusion through traditional services has a positive impact on economic growth, do the same results carry over for digital financial inclusion? What drives digital financial inclusion? Why does it advance more in some countries but not in others? Using new indices of financial inclusion developed in Khera et. al. (2021), this paper addresses these questions for 52 developing countries. Using cross-sectional instrument variable procedure, we find that the exogenous component of digital financial inclusion is positively associated with growth in GDP per capita during 2011-2018, which suggests that digital financial inclusion can accelerate economic growth. Fractional logit and random effects empirical estimation identifies access to infrastructure, financial and digital literacy, and quality of institutions as key drivers of digital financial inclusion. These findings are then used to help inform policy recommendations in areas related to the digitization of financial services to promote financial inclusion.
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Download or read book IMF Macroeconomic Research on Low Income Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-01-30 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Summarizes the for ward-looking analytical work program on macroeconomic issues related to the Poverty Reduction Strategy Paper approach. The program is evolving through a process that began with a technical workshop; participants from low-income countries, donors, academia, and civil society drafted guidance on selected issues and identified priority research topics. Partners, policymakers, and economic scholars are encouraged to share their perspectives and findings through respective team leaders, whose e-mail addresses are provided. The publication also summarizes IMF analytical work, and contains a bibliography of nearly 1,000 papers.
Download or read book Dilemmas of China s Growth in the Twenty first Century written by Ligang Song and published by ANU E Press. This book was released on 2012-12-01 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since economic reforms began in 1978, China has been a focal point for observing the effects of market liberalisation. China has not only truly become one of the ‘emerging giants’ in the world economy but also provided a successful example for transition from a centrally-planned to a market economy. Thus, there is a keen interest about what lies ahead for such a significant economic player. Dilemmas of China’s Growth in the Twenty-First Century is a comprehensive treatment of China’s economic achievements to date and prospects for the twenty-first century. Covering topics as diverse as economic stability and growth sustainability, WTO membership and its implications, income disparity, agricultural policy, trade and investment prospects, Dilemmas of China’s Growth in the Twenty-First Century is a powerful work and essential guide to the latest trends and prospects for the Chinese economy. This work, originally published by Asia Pacific Press, is reproduced here in the interests of maintaining open access to high-quality academic works no longer in print.
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Download or read book China s Economic Growth written by Yanrui Wu and published by Routledge. This book was released on 2004-03-01 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current growth of the Chinese economy is of immense importance for the global economy. This book outlines the main characteristics of Chinese economic growth over the last two decades, and investigates in detail the key determinants of growth, especially capital formation and productivity issues. It goes on to examine the important related questions of employment and underemployment, regional disparity, and economic integration, exploring in detail how far economic integration has taken place in south China, including the economies of Hong Kong and Taiwan, and how far this integration has been a determinant of economic growth. The book makes comparisons with other East Asian economies, and concludes with a consideration of the prospects for continuing growth in the twenty-first century.
Download or read book Public Debt and Growth written by Jaejoon Woo and published by International Monetary Fund. This book was released on 2010-07-01 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues including reverse causality and endogeneity. In addition, threshold effects, nonlinearities, and differences between advanced and emerging market economies are examined. The empirical results suggest an inverse relationship between initial debt and subsequent growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the initial debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.2 percentage points per year, with the impact being somewhat smaller in advanced economies. There is some evidence of nonlinearity with higher levels of initial debt having a proportionately larger negative effect on subsequent growth. Analysis of the components of growth suggests that the adverse effect largely reflects a slowdown in labor productivity growth mainly due to reduced investment and slower growth of capital stock.
Download or read book Challenges of Growth and Globalization in the Middle East and North Africa written by Mr.Hamid R Davoodi and published by International Monetary Fund. This book was released on 2003-09-05 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.
Download or read book 2003 Annual Review of Development Effectiveness written by and published by World Bank Publications. This book was released on 2004-01-01 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: ARDE 2003 examines the effectiveness of Bank support for developing country policy reform,. It finds that Bank support has contributed to reform in a number of cases. But there are also cases where the Bank's support has not been associated with improvements in the policy environment.
Download or read book Assessing Aid written by and published by World Bank Publications. This book was released on 1998 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assessing Aid determines that the effectiveness of aid is not decided by the amount received but rather the institutional and policy environment into which it is accepted. It examines how development assistance can be more effective at reducing global poverty and gives five mainrecommendations for making aid more effective: targeting financial aid to poor countries with good policies and strong economic management; providing policy-based aid to demonstrated reformers; using simpler instruments to transfer resources to countries with sound management; focusing projects oncreating and transmitting knowledge and capacity; and rethinking the internal incentives of aid agencies.
Download or read book World Economic Outlook October 2013 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2013-10-08 with total page 657 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global growth is in low gear, and the drivers of activity are changing. These dynamics raise new policy challenges. Advanced economies are growing again but must continue financial sector repair, pursue fiscal consolidation, and spur job growth. Emerging market economies face the dual challenges of slowing growth and tighter global financial conditions. This issue of the World Economic Outlook examines the potential spillovers from these transitions and the appropriate policy responses. Chapter 3 explores how output comovements are influenced by policy and financial shocks, growth surprises, and other linkages. Chapter 4 assesses why certain emerging market economies were able to avoid the classical boom-and-bust cycle in the face of volatile capital flows during the global financial crisis.
Download or read book The Rise in Corporate Saving and Cash Holding in Advanced Economies Aggregate and Firm Level Trends written by Mai Chi Dao and published by International Monetary Fund. This book was released on 2018-12-07 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using cross-country national accounts and firm-level data, we document a broad-based trend in rising gross saving and net lending of non-financial corporates across major industrialized countries over the last two decades, though most pronounced in countries with persistent current account surpluses. We find that this trend holds consistently across major industries, and is concentrated among large firms, driven by rising profitability, lower financing costs, and reduced tax rates. At the same time, higher gross corporate saving have not supported a commensurate increase in fixed capital investment, but instead led to a build-up of liquid financial assets (cash). The determinants of corporate cash holding and saving are also broad-based across countries, with the growth in assets of large firms, R&D intensity, and lower effective tax rates accounting for most of the increase over the last 15 years.
Download or read book PISA The High Cost of Low Educational Performance The Long run Economic Impact of Improving PISA Outcomes written by OECD and published by OECD Publishing. This book was released on 2010-01-25 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report uses recent economic modelling to relate cognitive skills – as measured by PISA and other international instruments – to economic growth, demonstrating that relatively small improvements to labour force skills can largely impact the future well-being of a nation.
