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Anchoring Growth
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Book Synopsis Anchoring Growth by : Ms.Era Dabla-Norris
Download or read book Anchoring Growth written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2013-09-24 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fostering and sustaining robust economic growth is an imperative across advanced, emerging, and low-income countries alike. Countries will need to focus on supply-side reforms to raise their potential output and anchor medium-term growth prospects. This SDN will emphasize the role of structural reforms and supportive policy and institutional frameworks for boosting productivity–a key engine of economic growth–in the wake of the crisis. By examining a broad spectrum of reforms that eliminate impediments to growth, the paper will seek to highlight a differentiated policy agenda across countries.
Book Synopsis Anchoring Growth by : Ms.Era Dabla-Norris
Download or read book Anchoring Growth written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2013-09-24 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fostering and sustaining robust economic growth is an imperative across advanced, emerging, and low-income countries alike. Countries will need to focus on supply-side reforms to raise their potential output and anchor medium-term growth prospects. This SDN will emphasize the role of structural reforms and supportive policy and institutional frameworks for boosting productivity–a key engine of economic growth–in the wake of the crisis. By examining a broad spectrum of reforms that eliminate impediments to growth, the paper will seek to highlight a differentiated policy agenda across countries.
Book Synopsis Inflation Anchoring and Growth: Evidence from Sectoral Data by : Sangyup Choi
Download or read book Inflation Anchoring and Growth: Evidence from Sectoral Data written by Sangyup Choi and published by International Monetary Fund. This book was released on 2018-03-02 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central bankers often assert that low inflation and anchoring of inflation expectations are good for economic growth (Bernanke 2007, Plosser 2007). We test this claim using panel data on sectoral growth for 22 manufacturing industries for 36 advanced and emerging market economies over the period 1990-2014. Inflation anchoring in each country is measured as the response of inflation expectations to inflation surprises (Levin et al., 2004). We find that credit constrained industries—those characterized by high external financial dependence and R&D intensity and low asset tangibility—tend to grow faster in countries with well-anchored inflation expectations. The results are robust to controlling for the interaction between these characteristics and a broad set of macroeconomic variables over the sample period, such as financial development, inflation, the size of government, overall economic growth, monetary policy counter-cyclicality and the level of inflation. Importantly, the results suggest that it is inflation anchoring and not the level of inflation per se that has a significant effect on average industry growth. Finally, the results are robust to IV techniques, using as instruments indicators of monetary policy transparency and independence.
Book Synopsis Anchoring Growth: The Importance of Productivity-Enhancing Reforms in Emerging Market and Developing Economies by : Ms. Era Dabla-Norris
Download or read book Anchoring Growth: The Importance of Productivity-Enhancing Reforms in Emerging Market and Developing Economies written by Ms. Era Dabla-Norris and published by INTERNATIONAL MONETARY FUND. This book was released on 2013-12-11 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fostering and sustaining robust economic growth is an imperative across advanced, emerging, and low-income countries alike. Countries will need to focus on supply-side reforms to raise their potential output and anchor medium-term growth prospects. This SDN will emphasize the role of structural reforms and supportive policy and institutional frameworks for boosting productivity–a key engine of economic growth–in the wake of the crisis. By examining a broad spectrum of reforms that eliminate impediments to growth, the paper will seek to highlight a differentiated policy agenda across countries.
Book Synopsis Anchoring Innovation Districts by : Costas Spirou
Download or read book Anchoring Innovation Districts written by Costas Spirou and published by JHU Press. This book was released on 2021-05-18 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book draws on case studies that explore the role that technological innovation, guided by entrepreneurialism in higher education, can have on economic development and urban change. This framework of sociological analysis, with illustrative cases of successes and failures, provides insights into the transformational power of higher education in the built environment. The book's target audience includes university administrators, board members and regents, local and state government officials, and entrepreneurs"--
Book Synopsis Leveraging urbanization for inclusive development in Malawi: Anchoring the secondary city development of Salima and Chipoka in a modernizing fruit value chain by : De Weerdt, Joachim
Download or read book Leveraging urbanization for inclusive development in Malawi: Anchoring the secondary city development of Salima and Chipoka in a modernizing fruit value chain written by De Weerdt, Joachim and published by Intl Food Policy Res Inst. This book was released on 2023-06-16 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Agricultural development in Malawi faces an important conundrum. While agriculture is the backbone of the economy, many smallholders will not be able to farm their way out of poverty. Shrinking farmland size severely limits the total income that can be earned from farming, even at much higher levels of productivity per area farmed than are now achieved. Urbanization embedded in the modernization of locally relevant value chains provides a promising pathway to inclusive development as it serves to simultaneously raise farm incomes, create income-earning opportunities off the farm, and create specialized urban hubs that can boost urban economic growth through agglomeration economies. After laying out these concepts conceptually, we apply them to a specific example of a modernizing mango value chain in Salima/Chipoka. Salima and Chipoka form an urban cluster about 100 km from the capital Lilongwe, located on the lakeshore of Lake Malawi. The Malawi Secondary Cities Plan has identified this cluster as one of eight that are to form an interconnected network of secondary cities, geographically spread across the country, with productive activities in each anchored in the economy of their rural hinterlands
Book Synopsis Inflation Anchoring and Growth: Evidence from Sectoral Data by : Sangyup Choi
Download or read book Inflation Anchoring and Growth: Evidence from Sectoral Data written by Sangyup Choi and published by International Monetary Fund. This book was released on 2018-03-02 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central bankers often assert that low inflation and anchoring of inflation expectations are good for economic growth (Bernanke 2007, Plosser 2007). We test this claim using panel data on sectoral growth for 22 manufacturing industries for 36 advanced and emerging market economies over the period 1990-2014. Inflation anchoring in each country is measured as the response of inflation expectations to inflation surprises (Levin et al., 2004). We find that credit constrained industries—those characterized by high external financial dependence and R&D intensity and low asset tangibility—tend to grow faster in countries with well-anchored inflation expectations. The results are robust to controlling for the interaction between these characteristics and a broad set of macroeconomic variables over the sample period, such as financial development, inflation, the size of government, overall economic growth, monetary policy counter-cyclicality and the level of inflation. Importantly, the results suggest that it is inflation anchoring and not the level of inflation per se that has a significant effect on average industry growth. Finally, the results are robust to IV techniques, using as instruments indicators of monetary policy transparency and independence.
Book Synopsis Wage Growth and Inflation in Europe: A Puzzle? by : Vizhdan Boranova
Download or read book Wage Growth and Inflation in Europe: A Puzzle? written by Vizhdan Boranova and published by International Monetary Fund. This book was released on 2019-12-20 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wages have been rising faster than productivity in many European countries for the past few years, yet signs of underlying consumer price pressures remain limited. To shed light on this puzzle, this paper examines the historical link between wage growth and inflation in Europe and factors that influence the strength of the passthrough from labor costs to prices. Historically, wage growth has led to higher inflation, but the impact has weakened since 2009. Empirical analysis suggests that the passthrough from wage growth to inflation is significantly lower in periods of subdued inflation and inflation expectations, greater competitive pressures, and robust corporate profitability. Thus the recent pickup in wage growth is likely to have a more muted impact on inflation than in the past.
Book Synopsis Gains from Anchoring Inflation Expectations: Evidence from the Taper Tantrum Shock by : Mr.Rudolfs Bems
Download or read book Gains from Anchoring Inflation Expectations: Evidence from the Taper Tantrum Shock written by Mr.Rudolfs Bems and published by International Monetary Fund. This book was released on 2019-03-27 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many argue that improvements in monetary policy frameworks in emerging market economies over the past few decades, have made them more resilient to external shocks. This paper exploits the May 2013 taper tantrum in the United States to study the reaction of 18 large emerging markets to an external shock, conditioning on their degree of inflation expectations' anchoring. We find that while the tapering announcement negatively affected growth prospects regardless of the level of anchoring, countries with weakly anchored inflation expectations experienced larger exchange rate pass-through to consumer prices, hence comparatively higher inflation. We conclude that efforts to improve the extent of anchoring of inflation expectations in emerging markets pay off, as they ease the trade-off that central banks face when external shocks weaken growth prospects and trigger currency depreciations.
Book Synopsis Structural Reform and Growth by : Kevin Greenidge
Download or read book Structural Reform and Growth written by Kevin Greenidge and published by International Monetary Fund. This book was released on 2016-04-07 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1980’s with the introduction of IMF/WB adjustment programs structural reforms have been a core part of the reform agenda in the Caribbean. The paper reviewed the package of structural reforms in trade liberalization, financial liberalization and tax policy, and gauges their impact on growth. The paper used a set of reform indices to gauge both short-run and long-run effects of structural reforms on growth, controlling for other possible growth determinants using panel dynamic OLS estimation. In addition, recognizing the importance of institutions to growth the empirical analysis also analyzed the impact of institutional quality on growth for a sample of small states including the Caribbean. We concluded that the benefits of structural reforms are only seen over the long-term and in reinvigorating growth the reform effort needs to be revived and include greater attention to strengthening institutional quality.
Book Synopsis Special Economic Zones in the Indonesia–Malaysia–Thailand Growth Triangle by : Asian Development Bank
Download or read book Special Economic Zones in the Indonesia–Malaysia–Thailand Growth Triangle written by Asian Development Bank and published by Asian Development Bank. This book was released on 2022-01-01 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication explains why Indonesia, Malaysia, and Thailand need to ramp up cooperation to boost their special economic zones (SEZ) and spur sustainable growth. Mapping out and assessing the economic performance of SEZs across the subregion, it highlights the threats they face from factors including growing competition for foreign investment, international trade disputes, and the rise of digital technologies. The publication stresses the need for policymakers and stakeholders to intensify their strategic collaboration in order to make their SEZs more competitive. Against the backdrop of COVID-19, it details a range of practical steps designed to increase trade, create jobs, and build economic resilience across the three countries.
Book Synopsis Product Market Deregulation and Growth by : Romain Bouis
Download or read book Product Market Deregulation and Growth written by Romain Bouis and published by International Monetary Fund. This book was released on 2016-09-23 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper investigates the economic effects of major product market reforms in some of the historically most protected non-manufacturing industries. It relies on a unique mapping between new annual data on reform shocks and sector-level outcomes for five network industries (electricity and gas, land transport, air transport, postal services, and telecommunications) in twenty-six countries spanning over three decades. The use of a threedimensional panel and careful instrumentation of reform shocks using external instruments enables us to control for economy-wide macroeconomic shocks and address possible sources of omitted variable bias more broadly. Using a local projection method, we find that major reductions in barriers to entry yield large increases in output and labor productivity over a five-year horizon, concomitant with a relative price decline. By contrast, there is only a weak positive effect on sectoral employment, and investment is essentially unaffected, suggesting that output gains from reform primarily reflect higher total factor productivity. It takes some time for these gains to materialize: effects become statistically significant two to three years after the reform, as prices start dropping, and productivity and output increase significantly. However, there is no evidence of any negative short-term cost from reform, including under weak macroeconomic conditions. These findings provide a clear case for intensifying product market reform efforts in advanced economies at the current juncture of weak growth.
Book Synopsis Indexing Structural Distortion: Sectoral Productivity, Structural Change and Growth by : Sakai Ando
Download or read book Indexing Structural Distortion: Sectoral Productivity, Structural Change and Growth written by Sakai Ando and published by International Monetary Fund. This book was released on 2017-09-19 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes a new index of sectoral labor distortion using employment and valueadded shares. We show that this index is highly correlated with growth both crosssectionally and over time. We also use it to compare the degree of distortion among countries and identify sectors where the potential payoffs in terms of growth from reforms could be large. The regression analysis in the paper shows that education and various structural reforms have potential to improve the efficiency of sectoral labor allocation.
Book Synopsis Model Neural Networks and Behavior by : Allen Selverston
Download or read book Model Neural Networks and Behavior written by Allen Selverston and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 549 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most conspicuous function of the nervous system is to control animal behav ior. From the complex operations of learning and mentation to the molecular con figuration of ionic channels, the nervous system serves as the interface between an animal and its environment. To study and understand the fundamental mecha nisms underlying the control of behavior, it is often both necessary and desirable to employ biological systems with characteristics especially suitable for answering specific questions. In neurobiology, many invertebrates have become established as model systems for investigations at both the systems and the cellular level. Large, readily identifiable neurons have made invertebrates especially useful for cellular studies. The fact that these neurons occur in much smaller numbers than those in higher animals also makes them important for circuit analysis. Although important differences exist, some of the questions that would be tech nically impossible to answer with vertebrates can become experimentally tractable with invertebrates.
Book Synopsis Transit Development in Rock Mechanics by : Meifeng Cai
Download or read book Transit Development in Rock Mechanics written by Meifeng Cai and published by CRC Press. This book was released on 2014-10-20 with total page 823 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transit Development in Rock Mechanics Recognition, Thinking and Innovation contains 150 papers presented at the 3rd ISRM International Young Scholars Symposium on Rock Mechanics (8-10 November 2014, Xi an, China). The volume focusses on the transitional development in rock mechanics research from surface to underground mining and from shallow to a
Book Synopsis Glycosylphosphatidylinositol (GPI) Anchoring of Proteins by : Anant Kumar Menon
Download or read book Glycosylphosphatidylinositol (GPI) Anchoring of Proteins written by Anant Kumar Menon and published by Academic Press. This book was released on 2009-07-09 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume of The Enzymes features high-caliber thematic articles on the topic of glycosylphosphatidylinositol (GPI) anchoring of proteins. * Contributions from leading authorities * Informs and updates on all the latest developments in the field
Book Synopsis Aggregate Uncertainty and Sectoral Productivity Growth by : Sangyup Choi
Download or read book Aggregate Uncertainty and Sectoral Productivity Growth written by Sangyup Choi and published by International Monetary Fund. This book was released on 2016-08-16 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: We show that an increase in aggregate uncertainty—measured by stock market volatility—reduces productivity growth more in industries that depend heavily on external finance. This effect is larger during recessions, when financing constraints are more likely to be binding, than during expansions. Our statistical method—a difference-in-difference approach using productivity growth for 25 industries for 18 advanced economies over the period 1985-2010—mitigates concerns with omitted variable bias and reverse causality. The results are robust to the inclusion of other sources of interaction effects, such as financial development (Rajan and Zingales, 1998) and counter-cyclical fiscal policy (Aghion et al., 2014). The results also hold if economic policy uncertainty (Baker et al., 2015) is used instead of stock market volatility as the measure of aggregate uncertainty.
