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International Volatility And Economic Growth
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Book Synopsis The Political Dimension of Economic Growth by : Silvio Borner
Download or read book The Political Dimension of Economic Growth written by Silvio Borner and published by Springer. This book was released on 1998-04-12 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The state and its institutions are crucial for economic development: for better and for worse. This insight informs this important, up-to-date and authoritative survey of new trends in growth economics and the widely divergent economic performance of developing countries - for example, between Latin America and South-east Asia - which seemed to be similarly placed just a generation ago. The decisive role of the political dimension in economic growth seems clear but there are many challenges to be met in getting an analytical handle on the precise determinants and in testing empirically for this. This is the challenge taken up by the international team of contributors.
Book Synopsis International Volatility and Economic Growth by : George De Menil
Download or read book International Volatility and Economic Growth written by George De Menil and published by North Holland. This book was released on 1991 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume contains a selection of articles published in special issues of the European Economic Review between 1980 and 1988. The subject matter of this volume is macroeconomic policy, the contributors are Europeans, Americans and Japanese. Most of the papers have an empirical character. Even when the theoretical models used are not readily quantifiable, the emphasis is on their power to clarify concrete policy issues. The volume is a record of the issues, the controversies, the comparative analyses, and the debate. The flavour and perspectives of the times are preserved in the contemporary comments and criticisms of the discussants that are presented with each contribution. The selected contributions fall naturally into three broad areas: comparative analyses of the relationship between structure and national macroeconomic performance; the evolving nature of the external constraint, and alternative strategies for managing it; and the consequences of internal and external debt. The volume is divided into three parts corresponding to these three broad topic areas.
Book Synopsis Managing Economic Volatility and Crises by : Joshua Aizenman
Download or read book Managing Economic Volatility and Crises written by Joshua Aizenman and published by Cambridge University Press. This book was released on 2005-10-03 with total page 615 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic volatility has come into its own after being treated for decades as a secondary phenomenon in the business cycle literature. This evolution has been driven by the recognition that non-linearities, long buried by the economist's penchant for linearity, magnify the negative effects of volatility on long-run growth and inequality, especially in poor countries. This collection organizes empirical and policy results for economists and development policy practitioners into four parts: basic features, including the impact of volatility on growth and poverty; commodity price volatility; the financial sector's dual role as an absorber and amplifier of shocks; and the management and prevention of macroeconomic crises. The latter section includes a cross-country study, case studies on Argentina and Russia, and lessons from the debt default episodes of the 1980s and 1990s.
Book Synopsis Inflation Volatility and Economic Growth by : Rodney Thom
Download or read book Inflation Volatility and Economic Growth written by Rodney Thom and published by . This book was released on 1993 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Commodity Price Volatility and Inclusive Growth in Low-Income Countries by : Mr.Rabah Arezki
Download or read book Commodity Price Volatility and Inclusive Growth in Low-Income Countries written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2012-10-24 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the years following the global financial crisis, many low-income countries experienced rapid recovery and strong economic growth. However, many are now facing enormous difficulties because of rapidly rising food and fuel prices, with the threat of millions of people being pushed into poverty around the globe. The risk of continued food price volatility is a systemic challenge, and a failure in one country has been shown to have a profound impact on entire regions. This volume addresses the challenges of commodity price volatility for low-income countries and explores some macroeconomic policy options for responding to commodity price shocks. The book then looks at inclusive growth policies to address inequality in commodity-exporting countries, particularly natural resource rich countries. Perspectives from the Middle East and North Africa, sub-Saharan Africa, emerging Asia, and Mexico are presented and, finally, the role of the international donor community is examined. This volume is a must read for policymakers everywhere, from those in advanced, donor countries to those in countries with the poorest and most vulnerable populations.
Download or read book Indonesia written by Mr.Thomas Rumbaugh and published by International Monetary Fund. This book was released on 2012-01-19 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decade, Indonesia has developed into an important regional and global economy, as well as an active participant in the G20. The chapters in this book document the substantial improvements in the quality of macroeconomic policy that Indonesia has achieved, while also clearly laying out an agenda of measures that should be taken to safeguard these gains and further lower vulnerabilities going forward. Rather than just demonstrating progress in key macroeconomic indicators, the contributors have delved into the ways that global volatility, especially since 2008, has affected Indonesia and how that country has adjusted its policies to meet the new challenges.
Book Synopsis China's Slowdown and Global Financial Market Volatility by : Mr.Paul Cashin
Download or read book China's Slowdown and Global Financial Market Volatility written by Mr.Paul Cashin and published by International Monetary Fund. This book was released on 2016-03-15 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's GDP growth slowdown and a surge in global financial market volatility could both adversely affect an already weak global economic recovery. To quantify the global macroeconomic consequences of these shocks, we employ a GVAR model estimated for 26 countries/regions over the period 1981Q1 to 2013Q1. Our results indicate that (i) a one percent permanent negative GDP shock in China (equivalent to a one-off one percent growth shock) could have significant global macroeconomic repercussions, with world growth reducing by 0.23 percentage points in the short-run; and (ii) a surge in global financial market volatility could translate into a fall in world economic growth of around 0.29 percentage points, but it could also have negative short-run impacts on global equity markets, oil prices and long-term interest rates.
Book Synopsis Commodity Price Volatility and the Sources of Growth by : International Monetary Fund
Download or read book Commodity Price Volatility and the Sources of Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-01-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the impact of the level and volatility of the commodity terms of trade on economic growth, as well as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital acquisition. We use the standard system GMM approach as well as a cross-sectionally augmented version of the pooled mean group (CPMG) methodology of Pesaran et al. (1999) for estimation. The latter takes account of cross-country heterogeneity and cross-sectional dependence, while the former controls for biases associated with simultaneity and unobserved country-specific effects. Using both annual data for 1970-2007 and five-year non-overlapping observations, we find that while commodity terms of trade growth enhances real output per capita, volatility exerts a negative impact on economic growth operating mainly through lower accumulation of physical capital. Our results indicate that the negative growth effects of commodity terms of trade volatility offset the positive impact of commodity booms; and export diversification of primary commodity abundant countries contribute to faster growth. Therefore, we argue that volatility, rather than abundance per se, drives the "resource curse" paradox.
Book Synopsis Growth from International Capital Flows by : Antu Panini Murshid
Download or read book Growth from International Capital Flows written by Antu Panini Murshid and published by International Monetary Fund. This book was released on 2011-04-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent commentary has downplayed the growth dividend from international financial integration, highlighting the possibly negative correlation between capital inflows and long-run growth. This paper presents new evidence consistent with standard economic theory and a more benign interpretation of cross-border private capital flows. The key observation is that a country’s growth volatility changes over time. With volatility below a threshold, an inflow of foreign capital has promoted growth. However, during periods of volatile growth, more flows have been associated with slower growth. Volatility levels and changes reflect an interaction of domestic production and institutional structures with global factors.
Book Synopsis Open and Nimble by : Daniel Lederman
Download or read book Open and Nimble written by Daniel Lederman and published by World Bank Publications. This book was released on 2017-11-08 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does economic size matter for economic development outcomes? If so are current policies adequately addressing the role of size in the development process? Using working age population as a proxy for country size, Open and Nimble, systematically analyzes what makes small economies unique. Small economies are not necessarily prone to underdevelopment and in fact can achieve very high income levels. Small economies, however, do tend to be highly open to both international trade and foreign direct investment, have highly specialized export structures, and have large government expenditures relative to their Gross Domestic Product. The export structures of small economies are concentrated in a few products or services and in a small number of export destinations. In turn, this export concentration is associated with terms of trade volatility, which combined with high exposure to international trade, implies that small economies tend to face more volatility on average as external volatility permeates national economic life. Yet small economies tend to compensate for their export concentration by being nimble in the sense of being able to change their production and export structure relatively quickly over time. Moreover, limited territory plays a role in shaping how economies are affected by natural disasters, even when the probability of facing such disasters is not necessarily higher among small than among large economies. The combination of large governments with macroeconomic volatility seems to be associated with low national savings rates in small economies. This combination could be a challenge for long-term growth if productivity growth and foreign investment do not compensate for low domestic savings. The book finishes with some thoughts on how policy makers can respond to these issues through coordinated investments and regional integration efforts, as well as fiscal policy reforms aimed at both increasing public savings and conducting countercyclical fiscal policies.
Book Synopsis Identification and Inference for Econometric Models by : Donald W. K. Andrews
Download or read book Identification and Inference for Econometric Models written by Donald W. K. Andrews and published by Cambridge University Press. This book was released on 2005-06-17 with total page 606 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2005 collection pushed forward the research frontier in four areas of theoretical econometrics.
Book Synopsis Managing Economic Volatility in Latin America by : Mr.R. Gelos
Download or read book Managing Economic Volatility in Latin America written by Mr.R. Gelos and published by International Monetary Fund. This book was released on 2014-03-27 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: How has Latin America coped with external shocks and economic vulnerabilities in the aftermath of the global financial crisis? Managing Economic Volatility in Latin America looks at how the region has fared in recent years in an environment of uncertainty. It presents a collection of novel contributions on capital flows, terms of trade, and macroeconomic policy in Latin America. The rigorous expert analysis offers an up-to-date guide to many of the key economic policy questions in the region. Chapters focus on important analytical issues, including assessing reserves adequacy and current account levels. The roles of macroeconomic policies and exchange rates regimes in coping with large capital inflows are examined, as well as the effectiveness of both monetary policy and fiscal policy in dealing with economic challenges in the region.
Book Synopsis Does Openness Imply Greater Exposure? by : César Calderón
Download or read book Does Openness Imply Greater Exposure? written by César Calderón and published by World Bank Publications. This book was released on 2005 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: External exposure can be measured by the sensitivity of first and second moments of economic growth to openness and foreign shocks. This paper provides an empirical evaluation of external exposure using panel data methods for a worldwide sample of countries. Controlling for domestic conditions, the paper examines the growth and volatility effects of outcome measures of trade and financial integration, as well as four types of foreign shocks: terms of trade changes, trading partners' growth rates, international real interest rate changes, and net regional capital inflows. The paper analyzes the possibility of nonlinearities by allowing the growth and volatility effects of openness to vary with the general level of economic development and by letting the effects of foreign shocks depend on the degree of trade and financial integration. The findings point toward strong non-monotonic effects of openness and external shocks on growth and volatility. Moreover, all in all, the results contradict the view that international integration increases external vulnerability by hurting growth and increasing volatility or by amplifying the adverse effect of external shocks.
Book Synopsis International Macroeconomics in the Wake of the Global Financial Crisis by : Laurent Ferrara
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Book Synopsis Growth and Development in the Global Economy by : Harry Bloch
Download or read book Growth and Development in the Global Economy written by Harry Bloch and published by Edward Elgar Publishing. This book was released on 2003-02-26 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the forces behind the increasing globalization of economic life? How does globalization affect the functioning of national economies? What difficulties confront government policymakers in dealing with the global economy? These issues are addressed in this volume by leading specialists. The contributors present a range of unique and varied perspectives from which they consider aspects of the increasing integration of economic life, exploring implications for the functioning of domestic markets in a rapidly changing global economy. The result is a collection of insights that provide a framework for understanding globalization as an economic phenomenon.
Book Synopsis Growth Volatility and Economic Growth in Brazil by : Jorge Arbache
Download or read book Growth Volatility and Economic Growth in Brazil written by Jorge Arbache and published by . This book was released on 2017 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most puzzling evidences of Brazil's economic performance is that, despite the country's ability to grow at high rates, its long-term growth has been disappointing. Behind this deficient long-term outcome, Brazil shows a high growth volatility. It has experienced substantial growth booms and busts for international standards. These recurrent episodes suggest that the persistent non-realization of Brazil's long-term growth potential and the mechanism by which growth has been systematically constrained are associated to the high volatility that the economy has exhibited over decades. The purpose of this paper is to provide an analysis of growth volatility and its impact on Brazil's growth performance and long-term trajectory. We present and discuss some of the critical issues and main patterns of Brazil's economic growth that are associated to growth volatility. Particular attention is given to its long-term underperformance, its macroeconomic regularities and possible causes and implications of its limited growth potential and degree of international convergence. It does so from a historical perspective and from an international perspective, as the case of Brazil is not only relevant per se, but also representative of many emerging economies, particularly in Latin America.
Book Synopsis Food Price Volatility and Its Implications for Food Security and Policy by : Matthias Kalkuhl
Download or read book Food Price Volatility and Its Implications for Food Security and Policy written by Matthias Kalkuhl and published by Springer. This book was released on 2016-04-12 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.
