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Author : Paul Collier
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.3/5 ( download)
Download or read book Does Aid Mitigate External Shocks? written by Paul Collier and published by . This book was released on 2008 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paul Collier
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (837 download)
Download or read book Review of Development Economics written by Paul Collier and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Claudio E. Raddatz
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 53 pages
Book Rating : 4./5 ( download)
Download or read book Are External Shocks Responsible for the Instability of Output in Low Income Countries? written by Claudio E. Raddatz and published by World Bank Publications. This book was released on 2005 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: External shocks, such as commodity price fluctuations, natural disasters, and the role of the international economy, are often blamed for the poor economic performance of low-income countries. The author quantifies the impact of these different external shocks using a panel vector autoregression (VAR) approach and compares their relative contributions to output volatility in low-income countries vis-à-vis internal factors. He finds that external shocks can only explain a small fraction of the output variance of a typical low-income country. Internal factors are the main source of fluctuations. From a quantitative perspective, the output effect of external shocks is typically small in absolute terms, but significant relative to the historic performance of these countries.
Author :
Publisher :
ISBN 13 : 9789292301323
Total Pages : pages
Book Rating : 4.3/5 (13 download)
Download or read book Aid, Volatility and Growth Again written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In previous papers we have argued that aid is likely to mitigate the negative effects of external shocks on economic growth (i.e., aid is more effective in countries that are more vulnerable to external shocks). Recently an important debate has emerged about the possible negative effects of aid volatility itself. However, the cushioning effect of aid may involve some volatility in aid flows, which then is not necessarily negative for growth. In this paper we examine to what extent the time profile of aid disbursements may contribute to an increase or a decrease of aid effectiveness. We first show that aid, even if volatile, is not clearly as procyclical as often argued, and, even if procyclical, is not necessarily destabilizing. We measure aid volatility by several methods and assess procyclicality of aid with respect to exports, thus departing from previous literature, which usually assesses procyclicality of aid with respect to national income or fiscal receipts. The stabilizing/destabilizing nature of aid is measured by the difference in the volatility of exports and the volatility of the aid plus exports flows. Then, in order to take into account the diversity of shocks to which aid can respond, we consider the effect of aid on income volatility and again find that aid is making growth more stable, while its volatility reduces this effect. Finally, we find evidence through growth regressions that the higher effectiveness of aid in vulnerable countries is to a large extent due to its stabilizing effect. -- aid ; shocks ; stability ; growth
Author :
Publisher : World Bank Publications
ISBN 13 : 9780195211238
Total Pages : 164 pages
Book Rating : 4.2/5 (112 download)
Download or read book Assessing Aid written by and published by World Bank Publications. This book was released on 1998 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assessing Aid determines that the effectiveness of aid is not decided by the amount received but rather the institutional and policy environment into which it is accepted. It examines how development assistance can be more effective at reducing global poverty and gives five mainrecommendations for making aid more effective: targeting financial aid to poor countries with good policies and strong economic management; providing policy-based aid to demonstrated reformers; using simpler instruments to transfer resources to countries with sound management; focusing projects oncreating and transmitting knowledge and capacity; and rethinking the internal incentives of aid agencies.
Author : Paul Collier
Publisher : Routledge
ISBN 13 : 1136904395
Total Pages : 424 pages
Book Rating : 4.1/5 (369 download)
Download or read book Conflict, Political Accountability and Aid written by Paul Collier and published by Routledge. This book was released on 2013-10-31 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: Paul Collier’s contributions to development economics,and in regard to Africa in particular, have marked him out as one of the most influential commentators of recent times. His research has centred upon the causes and consequences of civil war, the effects of aid, and the problems of democracy in low-income and natural-resource-rich societies. His work has also enjoyed substantial policy impact, having seen him sit as a senior adviser to Tony Blair’s Commission on Africa and addressed the General Assembly of the United Nations This collection of Collier’s major writings, with assistance from Anke Hoeffler and Jan Gunning, and accompanied by a new introduction, provide the definitive account of a wide range of macroeconomic, microeconomic and political economy topics concerned with Africa. Within macroeconomics, there is a focus on external shocks, exchange rate and trade policies, whilst microeconomic topics focus upon labour and financial markets, as well as rural development. Collier’s book The Bottom Billion had become a landmark book and this summation of the research underpinning it will be a superb guide for all those concerned with African development.
Author : Mr.Pragyan Deb
Publisher : International Monetary Fund
ISBN 13 : 1513566113
Total Pages : 24 pages
Book Rating : 4.5/5 (135 download)
Download or read book The Transmission of External Shocks in Asia: Country Characteristics and Policy Responses written by Mr.Pragyan Deb and published by International Monetary Fund. This book was released on 2021-01-08 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asian economies are increasingly integrated to the global economy through trade and financial linkages, exposing them to the international financial cycle. This paper explores how external shocks are transmitted to Asian economies and whether the use of policies, such as the monetary policy interest rate, foreign exchange intervention (FXI) and macroprudential measures (MPMs), can mitigate the impact of these external shocks. It uses panel quantile regressions on a sample of 14 Asian advanced and emerging economies (AEs and EMs) to assess the impact of financial and real shocks on investment and GDP growth at the median and 5th percentile tail. It finds that external financial shocks tend to have a larger effect on Asian economies than real shocks, and that the main transmission channels through which shocks are propagated are capital flows (particularly via corporate and bank balance sheets) for EMs, and credit for AEs. It also finds evidence that for Asian EMs, FXI may help dampen the capital flows and real exchange rate channels and mitigate financial shocks in the short run, and monetary policy transmission tends to be relatively weak; meanwhile MPMs can help mitigate the credit channel for both AEs and EMs.
Author : Ms.Camelia Minoiu
Publisher : International Monetary Fund
ISBN 13 : 1455209406
Total Pages : 41 pages
Book Rating : 4.4/5 (552 download)
Download or read book Business Cycle Fluctuations, Large Shocks, and Development Aid written by Ms.Camelia Minoiu and published by International Monetary Fund. This book was released on 2010-10-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the cyclical properties of development aid using bilateral data for 22 donors and over 100 recipients during 1970?2005. We find that bilateral aid flows are on average procyclical with respect to business cycles in donor and recipient countries. However, they become countercyclical when recipient countries face large adverse shocks to the terms-of-trade or growth collapses-thus playing an important cushioning role. Aid outlays contract sharply during severe donor economic downturns; this effect is magnified by higher public debt levels. Additionally, bilateral aid flows are higher in the presence of IMF programs and are more countercyclical for recipient countries with stronger institutions.
Author : Alassane Drabo
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)
Download or read book How Do Climate Shocks Affect the Impact of FDI, Oda and Remittances on Economic Growth? written by Alassane Drabo and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The three main financial inflows to developing countries have largely increased during the last two decades, despite the large debate in the literature regarding their effects on economic growth which is not yet clear-cut. An emerging literature investigates the dependence of their effects on some country characteristics such as human and physical capital constraint, macroeconomic policy and institutional capacity. This paper extends the literature by arguing that climate shocks may undermine the effect of Foreign Direct Investment (FDI), official development assistance (ODA) and migrants' remittances on economic expansion. Based on neoclassical growth framework, the theoretical model indicates that FDI, ODA, and remittances improve economic growth, and the size of the effect increases with good absorptive capacity. However, climate shocks reduce this positive effect of financial flows in developing countries. Using a sample of low and middle-income countries from 1995 to 2018, the empirical investigation confirms the theoretical conclusions. Developing countries should build strong resilience to climate change. Actions are also needed at global level to reduce greenhouse gases emissions, and build strong structural resilience to climate shocks especially in developing countries.
Author : M. Ayhan Kose
Publisher : World Bank Publications
ISBN 13 : 1464815453
Total Pages : 403 pages
Book Rating : 4.4/5 (648 download)
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Author : Thomas Bowen
Publisher : World Bank Publications
ISBN 13 : 1464815755
Total Pages : 155 pages
Book Rating : 4.4/5 (648 download)
Download or read book Adaptive Social Protection written by Thomas Bowen and published by World Bank Publications. This book was released on 2020-06-12 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adaptive social protection (ASP) helps to build the resilience of poor and vulnerable households to the impacts of large, covariate shocks, such as natural disasters, economic crises, pandemics, conflict, and forced displacement. Through the provision of transfers and services directly to these households, ASP supports their capacity to prepare for, cope with, and adapt to the shocks they face—before, during, and after these shocks occur. Over the long term, by supporting these three capacities, ASP can provide a pathway to a more resilient state for households that may otherwise lack the resources to move out of chronically vulnerable situations. Adaptive Social Protection: Building Resilience to Shocks outlines an organizing framework for the design and implementation of ASP, providing insights into the ways in which social protection systems can be made more capable of building household resilience. By way of its four building blocks—programs, information, finance, and institutional arrangements and partnerships—the framework highlights both the elements of existing social protection systems that are the cornerstones for building household resilience, as well as the additional investments that are central to enhancing their ability to generate these outcomes. In this report, the ASP framework and its building blocks have been elaborated primarily in relation to natural disasters and associated climate change. Nevertheless, many of the priorities identified within each building block are also pertinent to the design and implementation of ASP across other types of shocks, providing a foundation for a structured approach to the advancement of this rapidly evolving and complex agenda.
Author : Justin Yifu Lin
Publisher : World Bank Publications
ISBN 13 : 0821380591
Total Pages : 488 pages
Book Rating : 4.8/5 (213 download)
Download or read book Annual World Bank Conference on Development Economics 2009, Global written by Justin Yifu Lin and published by World Bank Publications. This book was released on 2010-06-21 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'ABCDE 2009 Global' presents selected papers from the ABCDE meetings, held June 9-11, 2008 in Cape Town South Africa. This volume presents papers on Trade and Investment; Migration, Remittances, and Transition from Foreign Aid; Higher Education and High-tech Industries; Human Development; and Political Economy.
Author : Célestin Monga
Publisher :
ISBN 13 : 0199687110
Total Pages : 865 pages
Book Rating : 4.1/5 (996 download)
Download or read book The Oxford Handbook of Africa and Economics: Context and concepts written by Célestin Monga and published by . This book was released on 2015 with total page 865 pages. Available in PDF, EPUB and Kindle. Book excerpt: For a long time, economic research on Africa was not seen as a profitable venture intellectually or professionally-few researchers in top-ranked institutions around the world chose to become experts in the field. This was understandable: the reputation of Africa-centered economic research was not enhanced by the well-known limitations of economic data across the continent. Moreover, development economics itself was not always fashionable, and the broader discipline of economics has had its ups and downs, and has been undergoing a major identity crisis because it failed to predict the Great Recession. Times have changed: many leading researchers-including a few Nobel laureates-have taken the subject of Africa and economics seriously enough to devote their expertise and creativity to it. They have been amply rewarded: the richness, complexities, and subtleties of African societies, civilizations, rationalities, and ways of living, have helped renew the humanities and the social sciences-and economics in particular-to the point that the continent has become the next major intellectual frontier to researchers from around the world. In collecting some of the most authoritative statements about the science of economics and its concepts in the African context, this handbook (the first of two volumes) opens up the diverse acuity of commentary on exciting topics, and in the process challenges and stimulates the quest for knowledge. Wide-ranging in its scope, themes, language, and approaches, this volume explores, examines, and assesses economic thinking on Africa, and Africa's contribution to the discipline. The editors bring a set of powerful resources to this endeavor, most notably a team of internationally-renowned economists whose diverse viewpoints are complemented by the perspectives of philosophers, political scientists, and anthropologists. The set of analyses and reflections presented here try to endow each subject with depth and discovery.
Author : Davide Furceri
Publisher : International Monetary Fund
ISBN 13 : 1475568355
Total Pages : 43 pages
Book Rating : 4.4/5 (755 download)
Download or read book The Effects of Monetary Policy Shocks on Inequality written by Davide Furceri and published by International Monetary Fund. This book was released on 2017-01-18 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new evidence of the effect of monetary policy shocks on income inequality. Using a measure of unanticipated changes in policy rates for a panel of 32 advanced and emerging market countries over the period 1990-2013, the paper finds that contractionary (expansionary) monetary actions increase (reduce) income inequality. The effect, however, varies over time, depending on the type of the shocks (tightening versus expansionary monetary policy) and the state of the business cycle, and across countries depending on the share of labor income and redistribution policies. In particular, we find that the effect is larger for positive monetary policy shocks, especially during expansions. Looking across countries, we find that the effect is larger in countries with higher labor share of income and smaller redistribution policies. Finally, while an unexpected increase in policy rates increases inequality, changes in policy rates driven by an increase in growth are associated with lower inequality.
Author : Per-Åke Andersson
Publisher : Nordic Africa Institute
ISBN 13 : 9789171064622
Total Pages : 144 pages
Book Rating : 4.0/5 (646 download)
Download or read book Foreign Aid, Debt, and Growth in Zambia written by Per-Åke Andersson and published by Nordic Africa Institute. This book was released on 2000 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: A study which discusses the structural problems in Zambia and the policies of adjustment that have been tried. It also analyses the impact of various strategies with regard to external resource transfers. The results show that the scope for growth is highly dependent on the tightness of the external resource constraint, and that debt service tends to dominate the policy-making.
Author : Dieter Helm
Publisher : Oxford University Press
ISBN 13 : 019957328X
Total Pages : 563 pages
Book Rating : 4.1/5 (995 download)
Download or read book The Economics and Politics of Climate Change written by Dieter Helm and published by Oxford University Press. This book was released on 2009-10-29 with total page 563 pages. Available in PDF, EPUB and Kindle. Book excerpt: The volume brings together leading climate change policy experts to set out the economic analysis and the nature of the negotiations at the United Nations Climate Change Conference in Copenhagen and beyond.
Author : Mr.Stijn Claessens
Publisher : International Monetary Fund
ISBN 13 : 1475561008
Total Pages : 66 pages
Book Rating : 4.4/5 (755 download)
Download or read book Financial Crises Explanations, Types, and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
