Illuminating Economic Growth

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Illuminating Economic Growth

Yingyao Hu,Jiaxiong Yao
Illuminating Economic Growth Book PDF

Author : Yingyao Hu,Jiaxiong Yao
Publisher : International Monetary Fund
Page : 57 pages
File Size : 51,5 Mb
Release : 2019-04-09
Category : Business & Economics
ISBN : 9781498302944

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Illuminating Economic Growth by Yingyao Hu,Jiaxiong Yao Pdf

This paper seeks to illuminate the uncertainty in official GDP per capita measures using auxiliary data. Using satellite-recorded nighttime lights as an additional measurement of true GDP per capita, we provide a statistical framework, in which the error in official GDP per capita may depend on the country’s statistical capacity and the relationship between nighttime lights and true GDP per capita can be nonlinear and vary with geographic location. This paper uses recently developed results for measurement error models to identify and estimate the nonlinear relationship between nighttime lights and true GDP per capita and the nonparametric distribution of errors in official GDP per capita data. We then construct more precise and robust measures of GDP per capita using nighttime lights, official national accounts data, statistical capacity, and geographic locations. We find that GDP per capita measures are less precise for middle and low income countries and nighttime lights can play a bigger role in improving such measures.

Illuminating Economic Growth

Yingyao Hu,Jiaxiong Yao
Illuminating Economic Growth Book PDF

Author : Yingyao Hu,Jiaxiong Yao
Publisher : International Monetary Fund
Page : 57 pages
File Size : 45,8 Mb
Release : 2019-04-09
Category : Business & Economics
ISBN : 9781498310758

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Illuminating Economic Growth by Yingyao Hu,Jiaxiong Yao Pdf

This paper seeks to illuminate the uncertainty in official GDP per capita measures using auxiliary data. Using satellite-recorded nighttime lights as an additional measurement of true GDP per capita, we provide a statistical framework, in which the error in official GDP per capita may depend on the country’s statistical capacity and the relationship between nighttime lights and true GDP per capita can be nonlinear and vary with geographic location. This paper uses recently developed results for measurement error models to identify and estimate the nonlinear relationship between nighttime lights and true GDP per capita and the nonparametric distribution of errors in official GDP per capita data. We then construct more precise and robust measures of GDP per capita using nighttime lights, official national accounts data, statistical capacity, and geographic locations. We find that GDP per capita measures are less precise for middle and low income countries and nighttime lights can play a bigger role in improving such measures.

Capitalism by Gaslight

Brian P. Luskey,Wendy A. Woloson
Capitalism by Gaslight Book PDF

Author : Brian P. Luskey,Wendy A. Woloson
Publisher : University of Pennsylvania Press
Page : 325 pages
File Size : 40,7 Mb
Release : 2015-02-02
Category : History
ISBN : 9780812291025

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Capitalism by Gaslight by Brian P. Luskey,Wendy A. Woloson Pdf

While elite merchants, financiers, shopkeepers, and customers were the most visible producers, consumers, and distributors of goods and capital in the nineteenth century, they were certainly not alone in shaping the economy. Lurking in the shadows of capitalism's past are those who made markets by navigating a range of new financial instruments, information systems, and modes of transactions: prostitutes, dealers in used goods, mock auctioneers, illegal slavers, traffickers in stolen horses, emigrant runners, pilfering dock workers, and other ordinary people who, through their transactions and lives, helped to make capitalism as much as it made them. Capitalism by Gaslight illuminates American economic history by emphasizing the significance of these markets and the cultural debates they provoked. These essays reveal that the rules of economic engagement were still being established in the nineteenth century: delineations between legal and illegal, moral and immoral, acceptable and unsuitable were far from clear. The contributors examine the fluid mobility and unstable value of people and goods, the shifting geographies and structures of commercial institutions, the blurred boundaries between legitimate and illegitimate economic activity, and the daily lives of men and women who participated creatively—and often subversively—in American commerce. With subjects ranging from women's studies and African American history to material and consumer culture, this compelling volume illustrates that when hidden forms of commerce are brought to light, they can become flashpoints revealing the tensions, fissures, and inequities inherent in capitalism itself. Contributors: Paul Erickson, Robert J. Gamble, Ellen Gruber Garvey, Corey Goettsch, Joshua R. Greenberg, Katie M. Hemphill, Craig B. Hollander, Brian P. Luskey, Will B. Mackintosh, Adam Mendelsohn, Brendan P. O'Malley, Michael D. Thompson, Wendy A. Woloson.

Measuring Quarterly Economic Growth from Outer Space

Robert C. M. Beyer,Yingyao Hu,Jiaxiong Yao
Measuring Quarterly Economic Growth from Outer Space Book PDF

Author : Robert C. M. Beyer,Yingyao Hu,Jiaxiong Yao
Publisher : International Monetary Fund
Page : 45 pages
File Size : 51,7 Mb
Release : 2022-06-03
Category : Business & Economics
ISBN : 9798400211553

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Measuring Quarterly Economic Growth from Outer Space by Robert C. M. Beyer,Yingyao Hu,Jiaxiong Yao Pdf

This paper presents a novel framework to estimate the elasticity between nighttime lights and quarterly economic activity. The relationship is identified by accounting for varying degrees of measurement errors in nighttime light data across countries. The estimated elasticity is 1.55 for emerging markets and developing economies, ranging from 1.36 to 1.81 across country groups and robust to different model specifications. The paper uses a light-adjusted measure of quarterly economic activity to show that higher levels of development, statistical capacity, and voice and accountability are associated with more precise national accounts data. The elasticity allows quantification of subnational economic impacts. During the COVID-19 pandemic, regions with higher levels of development and population density experienced larger declines in economic activity.

Managing without Growth, Second Edition

Peter A. Victor
Managing without Growth Second Edition Book PDF

Author : Peter A. Victor
Publisher : Edward Elgar Publishing
Page : 432 pages
File Size : 50,5 Mb
Release : 2018
Category : Economic development
ISBN : 9781785367380

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Managing without Growth, Second Edition by Peter A. Victor Pdf

Ten years after the publication of the first edition of this influential book, the evidence is even stronger that human economies are overwhelming the regenerative capacity of the planet. This book explains why long-term economic growth is infeasible, and why, especially in advanced economies, it is also undesirable. Simulations based on real data show that managing without growth is a better alternative

The Mystery of Economic Growth

Elhanan Helpman
The Mystery of Economic Growth Book PDF

Author : Elhanan Helpman
Publisher : Harvard University Press
Page : 252 pages
File Size : 42,6 Mb
Release : 2010-05-01
Category : Business & Economics
ISBN : 9780674254350

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The Mystery of Economic Growth by Elhanan Helpman Pdf

Far more than an intellectual puzzle for pundits, economists, and policymakers, economic growth--its makings and workings--is a subject that affects the well-being of billions of people around the globe. In The Mystery of Economic Growth, Elhanan Helpman discusses the vast research that has revolutionized understanding of this subject in recent years, and summarizes and explains its critical messages in clear, concise, and accessible terms. The tale of growth economics, as Helpman tells it, is organized around a number of themes: the importance of the accumulation of physical and human capital; the effect of technological factors on the rate of this accumulation; the process of knowledge creation and its influence on productivity; the interdependence of the growth rates of different countries; and, finally, the role of economic and political institutions in encouraging accumulation, innovation, and change. One of the leading researchers of economic growth, Helpman succinctly reviews, critiques, and integrates current research--on capital accumulation, education, productivity, trade, inequality, geography, and institutions--and clarifies its relevance for global economic inequities. In particular, he points to institutions--including property rights protection, legal systems, customs, and political systems--as the key to the mystery of economic growth. Solving this mystery could lead to policies capable of setting the poorest countries on the path toward sustained growth of per capita income and all that that implies--and Helpman's work is a welcome and necessary step in this direction.

Trapped in the Middle?

José Antonio Alonso,José Antonio Ocampo
Trapped in the Middle Book PDF

Author : José Antonio Alonso,José Antonio Ocampo
Publisher : Oxford University Press
Page : 320 pages
File Size : 43,5 Mb
Release : 2020-10-22
Category : Business & Economics
ISBN : 9780192594242

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Trapped in the Middle? by José Antonio Alonso,José Antonio Ocampo Pdf

There is growing evidence that overcoming the low-income threshold and reaching middle-income status is not sufficient for countries to converge toward high-income levels. Few middle-income countries have successfully completed that transit in recent decades, with the majority remaining in the middle-income group, and so facing what has come to be called "the middle-income trap". It is therefore essential to explore whether middle-income traps really exist and, if they do, how these pitfalls are manifested, what their causes are, what economic policy measures are required to escape from them, and what international cooperation can do to support this process. Trapped in the Middle? brings together diverse perspectives on these important questions, providing new evidence and analytical approaches to enrich the debate on the domestic and international challenges faced by a significant number of middle-income countries, in which over three-quarters of the global population live.

Brookings Papers on Economic Activity: Spring 2019

Janice Eberly,James H. Stock
Brookings Papers on Economic Activity Spring 2019 Book PDF

Author : Janice Eberly,James H. Stock
Publisher : Brookings Institution Press
Page : 490 pages
File Size : 43,6 Mb
Release : 2019-12-10
Category : Business & Economics
ISBN : 9780815738169

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Brookings Papers on Economic Activity: Spring 2019 by Janice Eberly,James H. Stock Pdf

Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues. Contents: On Secular Stagnation in the Industrialized World, Lukasz Rachel and Lawrence H. Summers A Forensic Examination of China's National Accounts, Wei Chen, Xilu Chen, Chang-Tai Hsieh, and Zheng Song A Unified Approach to Measuring u*, Richard K. Crump, Stefano Eusepi, Maric Giannoni, and Ays ̧egül S ̧ahin Fiscal Space and the Aftermath of Financial Crises: How It Matters and Why, Christina D. Romer and David H. Romer Okun Revisited: Who Benefits Most from a Strong Economy? Stephanies R. Aaronson, Mary C. Daly, William L. Wascher, and David W. Wilcox On the Economics of a Carbon Tax for the United States, Gilbert E. Metcalf

The Mismeasure of Progress

Stephen J. Macekura
The Mismeasure of Progress Book PDF

Author : Stephen J. Macekura
Publisher : University of Chicago Press
Page : 325 pages
File Size : 44,9 Mb
Release : 2020-11-04
Category : History
ISBN : 9780226736440

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The Mismeasure of Progress by Stephen J. Macekura Pdf

Few ideas in the past century have had wider financial, political, and governmental impact than that of economic growth. The common belief that endless economic growth, as measured by Gross Domestic Product, is not only possible but actually essential for the flourishing of civilization remains a powerful policy goal and aspiration for many. In The Mismeasure of Progress, Stephen J. Macekura exposes a historical road not taken, illuminating the stories of the activists, intellectuals, and other leaders who long argued that GDP growth was not all it was cracked up to be. Beginning with the rise of the growth paradigm in the 1940s and 1950s and continuing through the present day, The Mismeasure of Progress is the first book on the myriad thinkers who argued against growth and the conventional way progress had been measured and defined. For growth critics, questioning the meaning and measurement of growth was a necessary first step to creating a more just, equal, and sustainable world. These critics argued that focusing on growth alone would not resolve social, political, and environmental problems, and they put forth alternate methods for defining and measuring human progress. ?In today’s global political scene—marked by vast inequalities of power and wealth and made even more fraught by a global climate emergency—the ideas presented by these earlier critics of growth resonate more loudly than ever. Economic growth appealed to many political leaders because it allowed them to avoid addressing political trade-offs and class conflict. It sustained the fiction that humans are somehow separate from nonhuman “nature,” ignoring the intimate and dense connections between the two. In order to create a truly just and equitable society, Macekura argues, we need a clear understanding of our collective needs beyond growth and more holistic definitions of progress that transcend economic metrics like GDP.

17th International Conference on Intellectual Capital, Knowledge Management & Organisational Learning

Anthony Wensley,Max Evans
17th International Conference on Intellectual Capital Knowledge Management Organisational Learning Book PDF

Author : Anthony Wensley,Max Evans
Publisher : Academic Conferences International limited
Page : 128 pages
File Size : 54,7 Mb
Release : 2020-10-15
Category : Business & Economics
ISBN : 9781912764730

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17th International Conference on Intellectual Capital, Knowledge Management & Organisational Learning by Anthony Wensley,Max Evans Pdf

These proceedings represent the work of contributors to the 17th International Conference on Intellectual Capital, Knowledge Management & Organisational Learning (ICICKM 2020), hosted by ACI and the University of Toronto, Canada on 15-16 October 2020. The Conference Chairs are Dr. Anthony Wensley, from the University of Toronto and Dr. Max Evans, from McGill University. The Programme Chair is Dr. Ilja Frissen from McGill University.

Economic Growth, the Environment and International Relations

Stephen J. Purdey
Economic Growth the Environment and International Relations Book PDF

Author : Stephen J. Purdey
Publisher : Routledge
Page : 192 pages
File Size : 48,7 Mb
Release : 2010-01-04
Category : Political Science
ISBN : 9781135179007

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Economic Growth, the Environment and International Relations by Stephen J. Purdey Pdf

The ubiquity of the commitment to economic growth, which Purdey refers to as the growth paradigm, is extraordinary. National governments around the world are seized of the same objective. Major international institutions such as the UN, the WTO, the World Bank, IMF and OECD, powerful international organizations such as regional trading blocs and multinational corporations – even civil societies of all kinds enthusiastically pursue a larger economic pie. This book examines the deep origins and rise to prominence of the commitment to economic growth. It explains why, despite the diversity of regime types, levels of development, cultures and other divisions typical of international relations, all major actors in the modern global polity pursue an identical political priority. Purdey critically examines the growth paradigm highlighting its normative foundations and its environmental impact, especially climate change. Using a neo-Gramscian approach, Purdey re-engages the ‘limits to growth’ controversy, identifying the commitment to growth as a form of utopianism that is as dangerous as it is seductive. By illuminating and interrogating the history, politics and morality of the growth paradigm, this book shifts the terrain of the limits debate from instrumental to ethical considerations. It will be of interest to students and scholars of political economy, international relations, environmental studies and ethics.

The Heavy Economic Toll of Gender-based Violence: Evidence from Sub-Saharan Africa

Rasmane Ouedraogo,Mr. David Stenzel
The Heavy Economic Toll of Gender based Violence Evidence from Sub Saharan Africa Book PDF

Author : Rasmane Ouedraogo,Mr. David Stenzel
Publisher : International Monetary Fund
Page : 39 pages
File Size : 44,7 Mb
Release : 2021-11-19
Category : Business & Economics
ISBN : 9781557754073

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The Heavy Economic Toll of Gender-based Violence: Evidence from Sub-Saharan Africa by Rasmane Ouedraogo,Mr. David Stenzel Pdf

The COVID-19 pandemic and lockdowns have led to a rise in gender-based violence. In this paper, we explore the economic consequences of violence against women in sub-Saharan Africa using large demographic and health survey data collected pre-pandemic. Relying on a two-stage least square method to address endogeneity, we find that an increase in the share of women subject to violence by 1 percentage point can reduce economic activities (as proxied by nightlights) by up to 8 percent. This economic cost results from a significant drop in female employment. Our results also show that violence against women is more detrimental to economic development in countries without protective laws against domestic violence, in natural resource rich countries, in countries where women are deprived of decision-making power and during economic downturns. Beyond the moral imperative, the findings highlight the importance of combating violence against women from an economic standpoint, particularly by reinforcing laws against domestic violence and strengthening women’s decision-making power.

Elgar Companion to Neo-Schumpeterian Economics

Horst Hanusch,Andreas Pyka
Elgar Companion to Neo Schumpeterian Economics Book PDF

Author : Horst Hanusch,Andreas Pyka
Publisher : Edward Elgar Publishing
Page : 1229 pages
File Size : 49,6 Mb
Release : 2007
Category : Business & Economics
ISBN : 9781847207012

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Elgar Companion to Neo-Schumpeterian Economics by Horst Hanusch,Andreas Pyka Pdf

The Elgar Companion to Neo-Schumpeterian Economics is a cutting-edge collection of specially commissioned contributions highlighting not only the broad scope but also the common ground between all branches of this prolific and fast developing field of economics. For 25 years economists have been investigating industrial dynamics under the heading of neo-Schumpeterian economics, which has itself become a mature and widely acknowledged discipline in the fields of innovation, knowledge, growth and development economics. The Elgar Companion to Neo-Schumpeterian Economics surveys the achievements of the most visible scholars in this area. The contributions to the Companion give both a brief survey on the various fields of neo-Schumpeterian economics as well as insights into recent research at the scientific frontiers. The book also illustrates the potential of neo-Schumpeterian economics to overcome its so far self-imposed restriction to the domains of technology driven industry dynamics, and to become a comprehensive approach in economics suited for the analysis of development processes in all economic domains. Integrating both the public sector and financial markets, the book focusses on the co-evolutionary processes between the different domains. As a roadmap for the development of a comprehensive neo-Schumpeterian theory, the Companion will be an invaluable source of reference for researchers in the fields of industrial dynamics and economic growth, and academics and scholars of economics generally. PhD students will find the Companion an indispensable general introduction to the field of neo-Schumpeterian economics. It will also appeal to politicians and consultants engaged in national and international policy as the Companion deals with the highly important and ever topical phenomena of economic development.

Finance & Development, September 2019

International Monetary Fund. Communications Department
Finance Development September 2019 Book PDF

Author : International Monetary Fund. Communications Department
Publisher : International Monetary Fund
Page : 60 pages
File Size : 43,7 Mb
Release : 2019-09-04
Category : Business & Economics
ISBN : 9781513512778

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Finance & Development, September 2019 by International Monetary Fund. Communications Department Pdf

This issue of Finance & Development focuses on dark web of secret transactions that enable tax evasion and avoidance, money laundering, illicit financial flows, and corruption. Demands on government resources are building—to boost growth in some advanced economies, build infrastructure in emerging markets, and improve health and education in the developing world. IMF research shows that countries with lower levels of perceived corruption have significantly less waste in public projects. Among low-income countries, the share of the budget dedicated to education and health is one-third lower in more corrupt countries. The rise of digital finance, crypto assets, and cybercrime adds to the challenges. Consider the so-called dark web, a hidden marketplace for everything from stolen identities to arms and narcotics. Improving governance is not easy; it requires sustained effort over the long term.

Panel Nowcasting for Countries Whose Quarterly GDPs are Unavailable

Omer Faruk Akbal,Mr. Seung M Choi,Mr. Futoshi Narita,Jiaxiong Yao
Panel Nowcasting for Countries Whose Quarterly GDPs are Unavailable Book PDF

Author : Omer Faruk Akbal,Mr. Seung M Choi,Mr. Futoshi Narita,Jiaxiong Yao
Publisher : International Monetary Fund
Page : 36 pages
File Size : 43,7 Mb
Release : 2023-08-04
Category : Business & Economics
ISBN : 9798400245053

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Panel Nowcasting for Countries Whose Quarterly GDPs are Unavailable by Omer Faruk Akbal,Mr. Seung M Choi,Mr. Futoshi Narita,Jiaxiong Yao Pdf

Quarterly GDP statistics facilitate timely economic assessment, but the availability of such data are limited for more than 60 developing economies, including about 20 countries in sub-Saharan Africa as well as more than two-thirds of fragile and conflict-affected states. To address this limited data availablity, this paper proposes a panel approach that utilizes a statistical relationship estimated from countries where data are available, to estimate quarterly GDP statistics for countries that do not publish such statistics by leveraging the indicators readily available for many countries. This framework demonstrates potential, especially when applied for similar country groups, and could provide valuable real-time insights into economic conditions supported by empirical evidence.