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The Growth Effects of Current Account Reversals: The Role of Macroeconomic Policies
Mello, Luiz de; Padoan, Pier Carlo; Rousová, Linda - Economics Department, Organisation de Coopération et … - 2011
This paper assesses empirically whether or not current account reversals have permanent growth effects and the role of macroeconomic policies in this process. The methodology developed in de Mello, Padoan and Rousova (2010) to identify a chronology of current account reversals is applied to the...
Persistent link: https://www.econbiz.de/10009131544
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The role of macroeconomic policy in rebalancing growth
Morgan, Peter J. - In: Journal of Asian Economics 23 (2012) 1, pp. 13-25
The aftermath of the global financial crisis of 2007–2009 has called the export-led growth model of many Asian economies into question. This paper describes the contribution that macroeconomic policy can make to promote a rebalancing of growth away from dependence on exports to developed...
Persistent link: https://www.econbiz.de/10011042794
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China's March to Prosperity: Reforms to Avoid the Middle-income Trap
Koen, Vincent; Herd, Richard; Hill, Sam - Economics Department, Organisation de Coopération et … - 2013
China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...
Persistent link: https://www.econbiz.de/10011277005
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Growth and Capital Flows with Risky Entrepreneurship
Sandri, Damiano - In: American Economic Journal: Macroeconomics 6 (2014) 3, pp. 102-23
We show that the behavior of entrepreneurs facing incomplete financial markets and risky investment can explain why accelerations of productivity growth in developing countries tend to be associated with current account improvements. Under uninsurable investment risk, entrepreneurs have to...
Persistent link: https://www.econbiz.de/10010788953
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Chapter 3 Horizontal Innovation in the Theory of Growth and Development
Gancia, Gino; Zilibotti, Fabrizio - 2005
We analyze recent contributions to growth theory based on the model of expanding variety of Romer [Romer, P. (1990). “Endogenous technological change”. Journal of Political Economy 98, 71–102]. In the first part, we present different versions of the benchmark linear model with imperfect...
Persistent link: https://www.econbiz.de/10014023784
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Offshoring, Relocation and the Speed of Convergence in the Enlarged European Union
Alho, Kari; Kaitila, Ville; Widgrén, Mika - C.E.P.R. Discussion Papers - 2008
Economic convergence of the new member states (NMS) of the EU towards the old EU countries (EU-15), not only in terms …, consumption, and labour mobility behaviour to address several other issues like welfare and sustainability in terms of foreign … indebtedness. At the same time we evaluate the impact of convergence on the EU-15 countries also, by endogenising offshoring and …
Persistent link: https://www.econbiz.de/10005136618
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Effects of transitory shocks to aggregate output on consumption in poor countries
Brückner, Markus; Gradstein, Mark - In: Journal of International Economics 91 (2013) 2, pp. 343-357
This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory … transitory shocks to aggregate output on private consumption in poor countries. …
Persistent link: https://www.econbiz.de/10011056357
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Effects of Transitory Shocks to Aggregate Output on Consumption in Poor Countries
Brückner, Markus; Gradstein, Mark - C.E.P.R. Discussion Papers - 2013
This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory … transitory shocks to aggregate output on private consumption in poor countries. …
Persistent link: https://www.econbiz.de/10011083244
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Anmerkungen zu „Irrungen und Wirrungen mit der Leistungsbilanzstatistik“ von Georg Erber
Priewe, Jan - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 93 (2013) 1, pp. 52-59
In der Juliausgabe veröffentlichte der Wirtschaftsdienst einen Aufsatz von Georg Erber mit dem Titel „Irrungen und Wirrungen mit der Leistungsbilanzstatistik“. Dazu äußert sich Jan Priewe kritisch. Anschließend stellt Georg Erber in einer Erwiderung seine Sicht dar.
Persistent link: https://www.econbiz.de/10009689201
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The financial crisis and sizable international reserves depletion: From ‘fear of floating’ to the ‘fear of losing international reserves’?
Aizenman, Joshua; Sun, Yi - In: International Review of Economics & Finance 24 (2012) C, pp. 250-269
We explain the size of international reserve depletion during the global crisis, where only about half of the EMs drew down their reserves as part of the adjustment mechanism. Countries that internalized their large exposure to trade shocks before the crisis, used their IR as a buffer stock in...
Persistent link: https://www.econbiz.de/10010943004