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The economic history of Argentina presents one of the most dramatic examples of divergence in the modern era. What happened and why? This paper reviews the wide range of competing explanations in the literature and argues that, setting aside deeper social and political determinants, the various...
Persistent link: https://www.econbiz.de/10011083510
Africa and Latin America secured their independence from European colonial rule a century and half apart: most of Latin …. In each case independence was followed by political instability, violent conflict and economic stagnation lasting for …-imperial collapse and entering a period of relative political stability and economic growth, as did Latin America a century and a half …
Persistent link: https://www.econbiz.de/10005136542
industrializing world was already wide and widened during the first decades after Independence. While Latin America resumed growth …In this essay we analyze the relation between long-term growth and institutional development. Relative backwardness has … been a constant feature of the history of Latin America. In the wake of Independence the gap between Latin America and the …
Persistent link: https://www.econbiz.de/10008468602
independence process, socioeconomic and structural controls, and the level of development – in order to assess whether a) breaking … away from the former Yugoslavia delivered an ‘independence dividend’ to the newly independent countries and whether b …) independence had a more favourable impact in richer, rather than poorer territories. The results of the analysis underline that …
Persistent link: https://www.econbiz.de/10011083216
Central banks’ economic and political importance has grown in advanced economies since the start of the Great Financial Crisis in 2007. An unwillingness or inability of governments to use countercyclical fiscal policy has made monetary policy the only stabilization tool in town. However, much...
Persistent link: https://www.econbiz.de/10011084413
between sub-national states or regions. Using plausible counterfactual analysis, we assess the costs of independence for … independence takes on the calibrated frictions of a counterfactual independent country. If the main change that comes with the … independence of regions of larger countries is that their border with their former union partner comes to resemble a normal country …
Persistent link: https://www.econbiz.de/10011084503
Central bank transparency has become the topic of a lively public and academic debate on monetary policy. Unfortunately, it has been complicated by the fact that transparency is a qualitative concept that is hard to measure. This Paper proposes a comprehensive index for central bank transparency...
Persistent link: https://www.econbiz.de/10005123819
We study the determinants of 19th century mass migration with special attention to the role of institutional factors beside standard economic fundamentals. We find that economic forces associated with income and demographic differentials had a major role in the determination of this historical...
Persistent link: https://www.econbiz.de/10005124196
much of China’s recent growth in world trade is in line with her income growth, there is no doubt that China’s trade …
Persistent link: https://www.econbiz.de/10008784745
Credit market imperfections have been blamed for the depth and persistence of the Great Depression in the US. Could similar mechanisms have played a role in ending the East Asian miracle? After a brief account of the nature of the recent crises, we use Kiyotaki and Moore’s (1997) model of...
Persistent link: https://www.econbiz.de/10005792127