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East Asia has experienced a dramatic decrease in output growth volatility over the past 20 years. This is good news, as output growth volatility affects poor households because of coping strategies that have long-term, harmful consequences, and the overall economy through its negative impact on...
Persistent link: https://www.econbiz.de/10011394283
There has been a steady increase in the occurrence of natural disasters. Yet their effect on economic growth remains unclear, with some studies reporting negative, and others indicating no, or even positive effects. These seemingly contradictory findings can be reconciled by exploring the...
Persistent link: https://www.econbiz.de/10011394274
Following Chairman Ben Bernanke’s comments before Congress that the FOMC may ‘take a step down in the pace of asset purchases if economic improvement appears to be sustained’, US 10-year interest rates picked up sharply and gross capital flows to emerging market economies (EMEs) reversed....
Persistent link: https://www.econbiz.de/10010464962
Industrial specialization has important implications for economic performance; therefore, understanding its determinants is of key policy relevance. This paper quantifies the relationship between factor endowments, policies and institutions and patterns of industrial specialisation in production...
Persistent link: https://www.econbiz.de/10011007422
Following Chairman Ben Bernanke’s comments before Congress that the FOMC may ‘take a step down in the pace of asset purchases if economic improvement appears to be sustained’, US 10-year interest rates picked up sharply and gross capital flows to emerging market economies (EMEs) reversed....
Persistent link: https://www.econbiz.de/10011276981
This paper presents descriptive evidence of specialisation trends and investigates empirically their causes and consequences, analysing the role of policies in this process. Then, based on the insights from the backward looking analysis, it draws global trade and specialisation scenarios up to...
Persistent link: https://www.econbiz.de/10011277030
Industrial specialization has important implications for economic performance; therefore, understanding its determinants is of key policy relevance. This paper quantifies the relationship between factor endowments, policies and institutions and patterns of industrial specialisation in production...
Persistent link: https://www.econbiz.de/10010374411
This paper presents descriptive evidence of specialisation trends and investigates empirically their causes and consequences, analysing the role of policies in this process. Then, based on the insights from the backward looking analysis, it draws global trade and specialisation scenarios up to...
Persistent link: https://www.econbiz.de/10010375298
Despite the tremendous human suffering caused by natural disasters, their effects on economic growth remain unclear, with some studies reporting negative, and others indicating no or even positive effects. To reconcile these seemingly contradictory findings reported in the literature, this study...
Persistent link: https://www.econbiz.de/10011052181
We examine how formal and informal contract enforcing institutions interact in a competitive market with asymmetric information where consumers do not observe quality before purchase. Firm level incentives for producing high quality can be achieved with an informal enforcement mechanism,...
Persistent link: https://www.econbiz.de/10011056179