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Author : Sau-Him Paul Lau
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)
Download or read book Is There Endogenous Long-run Growth? : Evidence Based on an Error Correction Model written by Sau-Him Paul Lau and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Is There Endogenous Long-run Growth? written by and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "The key feature of endogenous growth models is that they imply that permanent changes in government policy can have permanent effects on growth rates. In this paper, we develop and implement an empirical framework to test this implication. In a regression of growth rates on current and lagged policy variables, the sum of the slope coefficients for each policy variable should be nonzero (zero) for endogenous (exogenous) growth models. In our estimation, we use time series data spanning up to 100 years for the United States and 160 years for the United Kingdom. We find that the implication for exogenous growth is usually rejected when both a tax variable and a public capital variable are included in the regression; failing to include both variables biases the results in favor of exogenous growth models. Our findings show that it is possible to have exogenous growth even when U.S. and U.K. GDP growth rates appear to be stable over time. We conclude that at the aggregate level, the production function appears to exhibit constant returns to scale in reproducible inputs"--Federal Reserve Bank of New York web site.
Author : Kei-Mu Yi
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.3/5 (512 download)
Download or read book Is There Endogenous Long-run Growth? written by Kei-Mu Yi and published by . This book was released on 1996 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The key feature of endogenous growth models is that they imply that permanent changes in government policy can have permanent effects on growth rates. In this paper, we develop and implement an empirical framework to test this implication. In a regression of growth rates on current and lagged policy variables, the sum of the slope coefficients for each policy variable should be nonzero (zero) for endogenous (exogenous) growth models. In our estimation, we use time series data spanning up to 100 years for the United States and 160 years for the United Kingdom. We find that the implication for exogenous growth is usually rejected when both a tax variable and a public capital variable are included in the regression; failing to include both variables biases the results in favor of exogenous growth models. Our findings show that it is possible to have exogenous growth even when U.S. and U.K. GDP growth rates appear to be stable over time. We conclude that at the aggregate level, the production function appears to exhibit constant returns to scale in reproducible inputs"--Abstract
Author : Jaejoon Woo
Publisher : International Monetary Fund
ISBN 13 : 145520157X
Total Pages : 49 pages
Book Rating : 4.4/5 (552 download)
Download or read book Public Debt and Growth written by Jaejoon Woo and published by International Monetary Fund. This book was released on 2010-07-01 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues including reverse causality and endogeneity. In addition, threshold effects, nonlinearities, and differences between advanced and emerging market economies are examined. The empirical results suggest an inverse relationship between initial debt and subsequent growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the initial debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.2 percentage points per year, with the impact being somewhat smaller in advanced economies. There is some evidence of nonlinearity with higher levels of initial debt having a proportionately larger negative effect on subsequent growth. Analysis of the components of growth suggests that the adverse effect largely reflects a slowdown in labor productivity growth mainly due to reduced investment and slower growth of capital stock.
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 : G. S. Maddala
Publisher : Cambridge University Press
ISBN 13 : 9780521587822
Total Pages : 528 pages
Book Rating : 4.5/5 (878 download)
Download or read book Unit Roots, Cointegration, and Structural Change written by G. S. Maddala and published by Cambridge University Press. This book was released on 1998 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive review of unit roots, cointegration and structural change from a best-selling author.
Author : Mr.Santiago Acosta Ormaechea
Publisher : International Monetary Fund
ISBN 13 : 161635917X
Total Pages : 36 pages
Book Rating : 4.6/5 (163 download)
Download or read book Tax Composition and Growth written by Mr.Santiago Acosta Ormaechea and published by International Monetary Fund. This book was released on 2012-10-26 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the relation between changes in tax composition and long-run economic growth using a new dataset covering a broad cross-section of countries with different income levels. We specifically consider 69 countries with at least 20 years of observations on total tax revenue during the period 1970-2009—21 high-income, 23 middle-income and 25 low-income countries. To our knowledge this is the most comprehensive and up-to-date dataset on tax composition and growth. We find that increasing income taxes while reducing consumption and property taxes is associated with slower growth over the long run. We also find that: (1) among income taxes, social security contributions and personal income taxes have a stronger negative association with growth than corporate income taxes; (2) a shift from income taxes to property taxes has a strong positive association with growth; and (3) a reduction in income taxes while increasing value added and sales taxes is also associated with faster growth.
Author :
Publisher :
ISBN 13 :
Total Pages : 488 pages
Book Rating : 4.3/5 (121 download)
Download or read book The Journal of Agricultural Economics Research written by and published by . This book was released on 1991 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Badi Hani Baltagi
Publisher :
ISBN 13 : 0199940045
Total Pages : 705 pages
Book Rating : 4.1/5 (999 download)
Download or read book The Oxford Handbook of Panel Data written by Badi Hani Baltagi and published by . This book was released on 2015 with total page 705 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Panel Data examines new developments in the theory and applications of panel data. It includes basic topics like non-stationary panels, co-integration in panels, multifactor panel models, panel unit roots, measurement error in panels, incidental parameters and dynamic panels, spatial panels, nonparametric panel data, random coefficients, treatment effects, sample selection, count panel data, limited dependent variable panel models, unbalanced panel models with interactive effects and influential observations in panel data. Contributors to the Handbook explore applications of panel data to a wide range of topics in economics, including health, labor, marketing, trade, productivity, and macro applications in panels. This Handbook is an informative and comprehensive guide for both those who are relatively new to the field and for those wishing to extend their knowledge to the frontier. It is a trusted and definitive source on panel data, having been edited by Professor Badi Baltagi-widely recognized as one of the foremost econometricians in the area of panel data econometrics. Professor Baltagi has successfully recruited an all-star cast of experts for each of the well-chosen topics in the Handbook.
Author : Sushanta K. Mallick
Publisher : Routledge
ISBN 13 : 0429834160
Total Pages : 167 pages
Book Rating : 4.4/5 (298 download)
Download or read book Modelling Macroeconomic Adjustment with Growth in Developing Economies written by Sushanta K. Mallick and published by Routledge. This book was released on 2018-08-13 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1999, this influential volume explores Macroeconomic Adjustment with a particular focus on India. Its inspiration originated from the introduction of stabilisation and structural adjustment policies in India in 1991. Mallick examines the application of this policy package by the International Monetary Fund and the World Bank to Developing Economies. First looking at the initial conditions and generators of imbalances, the appropriate policy framework for India’s initial conditions and structural characteristics is considered. While the effectiveness of the IMF had been strongly criticised, Mallick explains how it could be used more effectively. He argues that the programs applied are often contradictory and, using India as an example, examines the effects of policy reform on its trade sector, the repercussions on the direct economy and the costs associated with such policies in restoring stability and future economic growth, with particular support for the Vector Autoregression (VAR) framework. Mallick forwards a new structural model for policy purposes, evaluated for overall performance and optimal control.
Author : Nicholas Tsounis
Publisher : Springer Nature
ISBN 13 : 303149105X
Total Pages : 1229 pages
Book Rating : 4.0/5 (314 download)
Download or read book Applied Economic Research and Trends written by Nicholas Tsounis and published by Springer Nature. This book was released on with total page 1229 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pralok Gupta
Publisher : Cambridge Scholars Publishing
ISBN 13 : 1443882925
Total Pages : 210 pages
Book Rating : 4.4/5 (438 download)
Download or read book Emerging Services Sector and Inclusiveness written by Pralok Gupta and published by Cambridge Scholars Publishing. This book was released on 2015-09-18 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: The services sector has emerged as the most dynamic and important sector in India in the post-liberalization era. It has increased its contribution to the Indian economy not only in terms of GDP, but also in exports. However, one area where the services sector has not yet contributed significantly is employment creation. This has raised questions regarding the inclusivity of India’s services sector-led growth story. This book is a collection of papers devoted to understanding and analysing the role of the services sector in GDP, trade and inclusive growth in the Indian economy. These contributions examine specific issues related to the services sector in India, such as employment, trade cycles, foreign direct investment, and migration, and also analyse sector specific issues in selected services like retail, insurance, IT-BPO and aviation.
Author : Jacob Wood
Publisher : Springer Nature
ISBN 13 : 9811545103
Total Pages : 319 pages
Book Rating : 4.8/5 (115 download)
Download or read book A Multidimensional Economic Assessment of Africa written by Jacob Wood and published by Springer Nature. This book was released on 2020-05-27 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a useful resource for government policy analysts, academics, students of higher education and business practitioners interested in African economies and the key economic issues these economies are facing in 2020. In the face of weak governance and growth globally, there is still a window of opportunity for countries in Africa to build on not only their traditional industrial capabilities, but also pave the way for positive developments in international trade and in the way governments tackle poverty and inequality. By focusing on four areas: (1) agriculture and livestock, (2) consumption, poverty and inequality, (3) financial services, employment and corporate governance, and (4) economic integration, international trade and foreign direct investment (FDI), this book presents a series of empirical studies that examine important contemporary economic issues facing Africa. The book incorporates a range of methodological approaches, with some chapters providing case study analyses while others embrace more traditional forms of econometric testing.
Author : Vasilii Erokhin
Publisher : MDPI
ISBN 13 : 3039367021
Total Pages : 596 pages
Book Rating : 4.0/5 (393 download)
Download or read book Sustainable Economic Development written by Vasilii Erokhin and published by MDPI. This book was released on 2020-12-15 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a pivotal publication that addresses the contemporary challenges of globalization and elaborate policy responses to environmental pollution, climate change, economic disruptions, poverty, hunger, and other threats to sustainable economic development. Many parts of the world, territories, and societies are now changing at an unprecedented pace in ways that fundamentally affect the markets, people, the environment, and biodiversity. Such changes are primarily driven by rapid social and economic developments, economic disparities between countries, the internationalization of production and value chains, and industrialization. Increasingly frequently, business interests are interfering with sustainable development goals. The issue is how to converge the economic benefits with the urgent need for establishing resilient production chains, social networks, sustainably-operating markets, and environmental protection. This publication highlights the need for the balanced economic development and comprehensive coverage of many sustainability–business areas. Economic, production, financial, and social factors of sustainability are discussed by over 90 contributors representing 40 universities and research institutions from seven countries. Their findings are translated into workable approaches and policies for the benefit of the global economy, people, and the environment.
Author : Karatas, Muhammed
Publisher : IGI Global
ISBN 13 : 1615207104
Total Pages : 358 pages
Book Rating : 4.6/5 (152 download)
Download or read book Sustainable Economic Development and the Influence of Information Technologies: Dynamics of Knowledge Society Transformation written by Karatas, Muhammed and published by IGI Global. This book was released on 2010-02-28 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book provides relevant theoretical frameworks and the latest empirical research findings in the area of information technology as it relates to sustainable economic development and the development of knowledge societies"--Provided by publisher.
Author : Mr.James P Walsh
Publisher : International Monetary Fund
ISBN 13 : 146231029X
Total Pages : 34 pages
Book Rating : 4.4/5 (623 download)
Download or read book Financing Infrastructure in India written by Mr.James P Walsh and published by International Monetary Fund. This book was released on 2011-08-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Driving infrastructure development, notably mobilizing financial resources for infrastructure projects, has been challenging in many countries. This study includes two parts: an empirical analysis of macroeconomic risks associated with infrastructure booms, and a case study of four emerging economies about their practice of funding infrastructure development. The study shows that (i) there is no empirical evidence that rapid infrastructure growth would undermine contemporary macroeconomic performance, implying that room is created to accommodate infrastructure booms without compromising fiscal and external sustainability; (ii) banks may play an important role in financing infrastructure, but caution is needed to avoid directed lending and regulatory forbearance that the authorities may use to promote financing; (iii) capital market development is important to accommodate the usually high financing needs, and encouraging private investors to move into infrastructure would require regulatory and institutional improvements; and (iv) public support, including credit guarantees, may help bolster investors' confidence, but the authorities should carefully monitor and manage fiscal risks.
Author : Moriki Hosoe
Publisher : Springer
ISBN 13 : 9811370362
Total Pages : 378 pages
Book Rating : 4.8/5 (113 download)
Download or read book Contemporary Issues in Applied Economics written by Moriki Hosoe and published by Springer. This book was released on 2019-06-12 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: An important feature of this book is its analysis of various contemporary issues in applied economics, distinguished by advanced theoretical research and empirical analysis focusing on Japan and Korea. The book consists of four parts, the first of which investigates economic growth and welfare, using tools of applied analysis. In Part II, it examines inequality, redistribution, and intergenerational transfers, mainly on an empirical basis. In turn, Part III explores public policy and political economics, while Part IV addresses resource and environmental economics on the basis of data from Japan and Korea. In addition to offering valuable insights, this collection of papers commemorates the 10th anniversary of academic exchange between the Japan Association for Applied Economics (JAAE) and the Korean Association for Applied Economics (KAAE).
