Showing 1 - 10 of 18
For the last half century, trade theorists, development economists, and development practitioners have been calculating what was claimed to be the shadow price of scarce foreign exchange. In fact, what they have been calculating is the social value of the receipt of a unit of a numeraire good...
Persistent link: https://www.econbiz.de/10010848298
Persistent link: https://www.econbiz.de/10009324595
Modern economic development is accompanied by the structural transformation from an agrarian to an industrial economy and occurs through a process of continuous industrial and technological upgrading. Since the 18th century, all countries that industrialized successfully in Europe, North America...
Persistent link: https://www.econbiz.de/10011395287
Modern economic development is accompanied by the structural transformation from an agrarian to an industrial economy. Since the 18th century, all countries that industrialized successfully have followed their comparative advantages and leveraged the latecomer advantage, including emerging...
Persistent link: https://www.econbiz.de/10011009742
Persistent link: https://www.econbiz.de/10005715489
In the context of a segmented economy in which the urban unemployed subsist in informal-sector activities, Earl Grinols (1991) has recently questioned conventional wisdom whereby foreign investme nt with repatriated earnings is necessarily immiserizing for the host country. In this paper, the...
Persistent link: https://www.econbiz.de/10005195200
Persistent link: https://www.econbiz.de/10009554539
Innovation is crucial to long-term economic growth, even more so in the aftermath of the financial and economic crisis. In this volume, the OECD and the World Bank jointly take stock of how globalisation is posing new challenges for innovation and growth in both developed and developing...
Persistent link: https://www.econbiz.de/10015054493
The literature on technological change and growth has mainly used econometric models to establish that factors, such as the degree of openness, skills, research and development expenditures, number of patents etc., are critical determinants of innovation and its effect on growth. However, this...
Persistent link: https://www.econbiz.de/10010522304
Summary We identify the non-Walrasian, fix-price, flex-quantity, temporary equilibria of a specific factors economy that has a traded and a nontraded sector. In this framework, we investigate the effects of exchange rate shocks on capacity utilization and employment of labor. We find that the...
Persistent link: https://www.econbiz.de/10014608378