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Author : Aymo Brunetti
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4./5 ( download)
Download or read book Credibility of Rules and Economic Growth written by Aymo Brunetti and published by World Bank Publications. This book was released on 1997 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gregory Kisunko
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (913 download)
Download or read book Credibility of Rules and Economic Growth: Evidence from a Worldwide Survey of the Private Sector written by Gregory Kisunko and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: April 1997 An indicator of the credibility of rules is constructed from broad cross-country survey data and it is shown that low credibility is associated with lower rates of growth and investment. Economic theory and case study evidence have long suggested that institutional factors, such as well-defined property and contract rights, may be crucial in explaining differences in economic performance across countries. Much of the recent discussion about governance has, for example, focused on the role of corruption and its consequences for investment and growth. By comparison, the empirical literature relating institutional factors with growth has been relatively scarce and has mainly concentrated on crude proxies such as political instability and macroeconomic volatility. The problem of most of these variables in that they inadequately capture the uncertainties that are relevant for entrepreneurs. Brunetti, Kisunko, and Weder propose new measures of institutional uncertainty based on the subjective evaluations of entrepreneurs. They surveyed the private sector in a broad cross-section of countries. The survey was designed to capture institutional factors such as the predictability of rules, entrepreneurs' fears of policy surprises and reversals, their perception of safety and security of property, the reliability of the judiciary, and their problems with bureaucratic corruption. The authors construct and test a summary indicator of the credibility of rules, as well as its components in standard cross-country growth and investment regressions. The main findings: The overall indicator of credibility is significantly related with higher rates of investment and growth. The credibility indicator calculated for the subsample of small local companies is even more closely related to the growth performance. The subindicators security of persons and property and predictability of rule-making are most closely associated with growth. The indicators of corruption, perceived political instability, and predictability of judiciary enforcement are most closely associated with investment. Preliminary results for an extended sample - including transition economies - indicate that institutional factors may also help to explain differences in economic performance in these countries. This paper - a product of the Office of the Chief Economist and Senior Vice President, Development Economics- was produced as a background paper for World Development Report 1997 on the role of the state in a changing world. The study was funded in part by the Research Support Budget under the research projects Cross-Country Indicators of Institutional Uncertainty (RPO 680-51), and Indicators of Government Quality as Perceived by the Private Sector (RPO 681-52).
Author : Gregory Kisunko
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (129 download)
Download or read book Credibility of Rules and Economic Growth written by Gregory Kisunko and published by . This book was released on 2016 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: An indicator of the credi ...
Author : Aymo Brunetti
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (753 download)
Download or read book Credibility of Rules and Economic Growth written by Aymo Brunetti and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Silvio Borner
Publisher : Springer
ISBN 13 : 1349240494
Total Pages : 226 pages
Book Rating : 4.3/5 (492 download)
Download or read book Political Credibility and Economic Development written by Silvio Borner and published by Springer. This book was released on 2016-07-27 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why have the economies of some developing countries fallen back while others have advanced? Why have so many stabilization and structural adjustment programs failed to deliver growth dividends? This book shows that there is a common and valid answer: political credibility defined as the predictability of the institutional rules of the game. This case is not only argued theoretically but also found to be confirmed by empirical analysis. Ten case studies pitting Latin American countries against Southeast Asian ones reveal the sources of political credibility. Economic openness is the necessary precondition, long-term reputation or democratic participation the sufficient one. Despite the seemingly superior strength of authoritarian reputation democratic control is the more successful road.
Author : Gregory Kisunko
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (1 download)
Download or read book Institutions in Transition: Reliability of Rules and Economic Performance in Former Socialist Countries written by Gregory Kisunko and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: August 1997 The predictability of a transition economy's institutional framework may well influence the amount of foreign direct investment and economic growth the economy can expect. Building reliable institutions that support a market system is widely believed to be critical to a successful economic transition. Brunetti, Kisunko, and Weder present indicators on the predictability of the institutional framework across twenty transition economies--indicators of the predictability of rules, political stability, the security of property rights, the reliability of the judiciary, and the lack of corruption. They then investigate whether these indicators can explain differences in economic performance. The results suggest that the predictability of the institutional framework may indeed explain a large part of differences in foreign direct investment and in economic growth among transition economies. Political stability and secure property rights are particularly important to entrepreneurial confidence in the economy. This paper--a product of the Office of the Chief Economist and Senior Vice President, Development Economics--was produced as a background paper for World Development Report 1997: The Role of the State in a Changing World. The study was funded in part by the Research Support Budget under the research projects Cross-Country Indicators of Institutional Uncertainty (RPO 680-51) and Indicators of Government Quality as Perceived by the Private Sector (RPO 681-52).
Author : Aymo Brunetti
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (613 download)
Download or read book Political Credibility and Economic Growth written by Aymo Brunetti and published by . This book was released on 1992 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Edmund Strother Phelps
Publisher :
ISBN 13 :
Total Pages : 189 pages
Book Rating : 4.:/5 (251 download)
Download or read book Golden rules of economic growth written by Edmund Strother Phelps and published by . This book was released on 1966 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Ari Aisen
Publisher : International Monetary Fund
ISBN 13 : 1455211907
Total Pages : 30 pages
Book Rating : 4.4/5 (552 download)
Download or read book How Does Political Instability Affect Economic Growth? written by Mr.Ari Aisen and published by International Monetary Fund. This book was released on 2011-01-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this paper is to empirically determine the effects of political instability on economic growth. Using the system-GMM estimator for linear dynamic panel data models on a sample covering up to 169 countries, and 5-year periods from 1960 to 2004, we find that higher degrees of political instability are associated with lower growth rates of GDP per capita. Regarding the channels of transmission, we find that political instability adversely affects growth by lowering the rates of productivity growth and, to a smaller degree, physical and human capital accumulation. Finally, economic freedom and ethnic homogeneity are beneficial to growth, while democracy may have a small negative effect.
Author : Mr.Yan Carriere-Swallow
Publisher : International Monetary Fund
ISBN 13 : 1513511432
Total Pages : 50 pages
Book Rating : 4.5/5 (135 download)
Download or read book The Economics and Implications of Data written by Mr.Yan Carriere-Swallow and published by International Monetary Fund. This book was released on 2019-09-23 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This SPR Departmental Paper will provide policymakers with a framework for studying changes to national data policy frameworks.
Author : Aymo Brunetti
Publisher : World Bank Publications
ISBN 13 : 9780821341599
Total Pages : 46 pages
Book Rating : 4.3/5 (415 download)
Download or read book Investment and Institutional Uncertainty written by Aymo Brunetti and published by World Bank Publications. This book was released on 1997-01-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Looking decades ahead into the future, many informed observers see China moving steadily to the top of the world's economic league. Several sources, including the OECD, forecast that the country will be the world's largest economy by 2020. China's urban economy has been the driving force behind the country's recent trends of accelerated growth. By the same token, deterioration in the urban centers could constrain future growth. The Dynamics of Urban Growth in Three Chinese Cities looks at the interplay between geography, size, and industrial structure that determines the industrial vigor of cities. Their conclusions, abundantly illustrated through the experience of the Chinese cities of Shanghai, Tianjin, and Guangzhou, is that each of these factors must be made to work for the city through effective policymaking. The authors compare these cities with each other in the context of the changes sweeping China's economy, review their history and their reform programs from the early 1980s to the mid-1990s, and examine their infrastructure and human capital. The volume includes maps of the cities and their outlying areas and of China's road and rail system, as well as figures depicting the industrial structure of each city. Published for the World Bank by Oxford University Press.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498344658
Total Pages : 257 pages
Book Rating : 4.4/5 (983 download)
Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Author : Tim Jackson
Publisher : Taylor & Francis
ISBN 13 : 1317388224
Total Pages : 310 pages
Book Rating : 4.3/5 (173 download)
Download or read book Prosperity without Growth written by Tim Jackson and published by Taylor & Francis. This book was released on 2016-12-08 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: What can prosperity possibly mean in a world of environmental and social limits? The publication of Prosperity without Growth was a landmark in the sustainability debate. Tim Jackson’s piercing challenge to conventional economics openly questioned the most highly prized goal of politicians and economists alike: the continued pursuit of exponential economic growth. Its findings provoked controversy, inspired debate and led to a new wave of research building on its arguments and conclusions. This substantially revised and re-written edition updates those arguments and considerably expands upon them. Jackson demonstrates that building a ‘post-growth’ economy is a precise, definable and meaningful task. Starting from clear first principles, he sets out the dimensions of that task: the nature of enterprise; the quality of our working lives; the structure of investment; and the role of the money supply. He shows how the economy of tomorrow may be transformed in ways that protect employment, facilitate social investment, reduce inequality and deliver both ecological and financial stability. Seven years after it was first published, Prosperity without Growth is no longer a radical narrative whispered by a marginal fringe, but an essential vision of social progress in a post-crisis world. Fulfilling that vision is simply the most urgent task of our times.
Author : Silvio Borner
Publisher : OECD Publishing
ISBN 13 :
Total Pages : 120 pages
Book Rating : 4.F/5 ( download)
Download or read book Institutional Efficiency and Its Determinants written by Silvio Borner and published by OECD Publishing. This book was released on 2004 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication discusses the impact of institutions on economic development and the determinants that shape institutional quality, using a new institutional economics (NIE) model based on a multidisciplinary approach to understanding issues including growth, efficiency and income distribution. Using the experience of Argentina under the Menem government as a case study, a methodology is developed and applied to test theoretical hypotheses regarding the concept of institutional quality and how delineation between economic and political institutions work in practice. It also considers systems of democracy and autocracy, and the impact of traditional, legal and cultural frameworks on institutional efficiency.
Author : Robert J. Barro
Publisher : MIT Press
ISBN 13 : 9780262025539
Total Pages : 676 pages
Book Rating : 4.0/5 (255 download)
Download or read book Economic Growth, second edition written by Robert J. Barro and published by MIT Press. This book was released on 2003-10-10 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The long-awaited second edition of an important textbook on economic growth—a major revision incorporating the most recent work on the subject. This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence. The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory. The book has been expanded in many areas and incorporates the latest research. After an introductory discussion of economic growth, the book examines neoclassical growth theories, from Solow-Swan in the 1950s and Cass-Koopmans in the 1960s to more recent refinements; this is followed by a discussion of extensions to the model, with expanded treatment in this edition of heterogenity of households. The book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population. The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models. The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000. The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.
Author : Philip Keefer
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4./5 ( download)
Download or read book Democracy, Credibility, and Clientelism written by Philip Keefer and published by World Bank Publications. This book was released on 2005 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Keefer and Vlaicu demonstrate that sharply different policy choices across democracies can be explained as a consequence of differences in the ability of political competitors to make credible pre-electoral commitments to voters. Politicians can overcome their credibility deficit in two ways. First, they can build reputations. This requires that they fulfill preconditions that in practice are costly--informing voters of their promises, tracking those promises, and ensuring that voters turn out on election day. Alternatively, they can rely on intermediaries--patrons--who are already able to make credible commitments to their clients. Endogenizing credibility in this way, the authors find that targeted transfers and corruption are higher and public good provision lower than in democracies in which political competitors can make credible pre-electoral promises. They also argue that in the absence of political credibility, political reliance on patrons enhances welfare in the short run, in contrast to the traditional view that clientelism in politics is a source of significant policy distortion. However, in the long run reliance on patrons may undermine the emergence of credible political parties. The model helps to explain several puzzles. For example, public investment and corruption are higher in young democracies than old; and democratizing reforms succeeded remarkably in Victorian England, in contrast to the more difficult experiences of many democratizing countries, such as the Dominican Republic. This paper--a product of the Growth and Investment Team, Development Research Group--is part of a larger effort in the group to investigate the political economy of development"--World Bank web site.
Author : Aymo Brunetti
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4./5 ( download)
Download or read book Institutions in Transition written by Aymo Brunetti and published by World Bank Publications. This book was released on 1997 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
