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, growth depends negatively on volatility of unanticipated output growth independent of initial income, investment, human … on growth is swamped by the indirect negative effect through volatility. Third, with well developed financial sectors …, the resource curse is less pronounced. Fourth, landlocked countries with ethnic tensions have higher volatility and lower …
Persistent link: https://www.econbiz.de/10013134342
This paper addresses the mechanisms by which trade openness affects growth volatility. Using a diverse set of export … effect of trade openness on growth volatility. Indeed, the effect of openness on volatility is shown to be negative for a …
Persistent link: https://www.econbiz.de/10013098217
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We analyze how trade affects aggregate volatility using a multi-country, multiindustry, and multi-destination framework … volatility for high volatility countries. On the other hand, reducing specialization increases volatility. …
Persistent link: https://www.econbiz.de/10013256580
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the associations of growth level, growth volatility, shocks, institutions, and macroeconomic fundamentals have changed in …, including global growth, global oil prices, and global financial volatility. After accounting for the effects global shocks, we … rate flexibility, education attainment, and lack of political polarization reduce the volatility of economic growth …
Persistent link: https://www.econbiz.de/10012917821
Does trade openness cause higher GDP per capita? Since the seminal instrumental variables (IV) estimates of Frankel and Romer [F&R](1999) important doubts have surfaced. Is the correlation spurious and driven by omitted geographical and institutional variables? In this paper, we generalize F&R's...
Persistent link: https://www.econbiz.de/10009240715
tools is an urgent task. The purpose of the study is the impact of volatility and the level of world commodity prices on … simultaneous accounting of the level of world commodity prices and their volatility, allows us to empirically evaluate the …A feature of modern globalization processes is their vulnerability to the volatility of short-term capital flows, which …
Persistent link: https://www.econbiz.de/10012501873
financial crises are permanent on average, and long-term growth is negatively linked to volatility. These results also imply …
Persistent link: https://www.econbiz.de/10014063095