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Getting Interventions Right : How South Korea and Taiwan Grew Rich

Rodrik, Dani - 2021

aggregate economic performance. A more plausible story focuses on the investment boom that took place in both countries. In the … the latent return to capital quite high. By subsidizing and coordinating investment decisions, government policy managed …

Persistent link: https://www.econbiz.de/10013218320

Policy Distortions and Aggregate Productivity with Heterogeneous Plants

Restuccia, Diego - 2010

We formulate a version of the growth model in which production is carried out by heterogeneous plants and calibrate it to US data. In the context of this model we argue that differences in the allocation of resources across heterogeneous plants may be an important factor in accounting for...

Persistent link: https://www.econbiz.de/10012760197

Capital Account Liberalization : Theory, Evidence, and Speculation

Henry, Peter Blair - 2010

has significant effects on the cost of capital, investment, and economic growth …

Persistent link: https://www.econbiz.de/10012760534

Real Business Cycles in Emerging Countries?

Garcia Cicco, Javier - 2010

We use more than one century of Argentine and Mexican data to estimate the structural parameters of a small-open-economy real-business-cycle model driven by nonstationary productivity shocks. We find that the RBC model does a poor job at explaining business cycles in emerging countries. We then...

Persistent link: https://www.econbiz.de/10012760602

Tfpg Controversies, Institutions, and Economic Performance in East Asia

Rodrik, Dani - 2010

when institutional quality is instrumented. Finally, the experience of Hong Kong, which has had a flat investment ratio … since the 1960s, is consistent with the idea that making the transition from a low-investment economy to a high-investment …

Persistent link: https://www.econbiz.de/10012763667

Unmeasured Investment and the Puzzling U.S. Boom in the 1990s

McGrattan, Ellen R. - 2015

by introducing intangible investment and non-neutral technology change with respect to producing intangible investment …. We use the theory to compare current accounting measures for labor productivity and investment with the corresponding … measures for the model economy with intangible investment. Our findings show that standard accounting measures greatly …

Persistent link: https://www.econbiz.de/10012750319

Does Investment in National Highways Help or Hurt Hinterland City Growth?

Baum-Snow, Nathaniel - 2018

We investigate the effects of the recently constructed Chinese national highway system on local economic outcomes. On average, roads that improve access to local markets have small or negative effects on prefecture economic activity and population. However, these averages mask a distinct pattern...

Persistent link: https://www.econbiz.de/10012919317

Policy Distortions and Aggregate Productivity with Endogenous Establishment-Level Productivity

da Rocha, José M. - 2017

What accounts for differences in output per capita and total factor productivity (TFP) across countries? Empirical evidence points to resource misallocation across heterogeneous production units as an important factor. We study misallocation in a general equilibrium model of establishment...

Persistent link: https://www.econbiz.de/10012957990

FDI and Capital Formation in Developing Economies : New Evidence from Industry-Level Data

Amighini, Alessia A. - 2017

We contribute to the long debated issue of whether inward foreign direct investment (FDI) can stimulate investment in … of FDI on total investment – measured as the ratio of gross fixed capital formation to GDP – but only if multinational …

Persistent link: https://www.econbiz.de/10012965418

Interpreting the Great Moderation : Changes in the Volatility of Economic Activity at the Macro and Micro Levels

Davis, Steven J. - 2008

We review evidence on the Great Moderation in conjunction with evidence about volatility trends at the micro level. We combine the two types of evidence to develop a tentative story for important components of the aggregate volatility decline and its consequences. The key ingredients are...

Persistent link: https://www.econbiz.de/10012771783