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Author : Marion Jansen
Publisher : Unknown
Page : 35 pages
File Size : 55,9 Mb
Release : 2004
Category : Developing countries
ISBN : UCSD:31822033492869
This paper examines the effect of export concentration on income volatility in small economies, and concludes that volatility is reduced if small economies diversify their exports.--Publisher's description.
Author : Mr.Ayhan Kose,Mr.Eswar Prasad,Mr.Marco Terrones
Publisher : International Monetary Fund
Page : 29 pages
File Size : 46,8 Mb
Release : 2003-03-01
Category : Business & Economics
ISBN : 9781451846997
This paper examines the impact of international financial integration on macroeconomic volatility in a large group of industrial and developing economies over the period 1960-99. We report two major results: First, while the volatility of output growth has, on average, declined in the 1990s relative to the three preceding decades, we also document that, on average, the volatility of consumption growth relative to that of income growth has increased for more financially integrated developing economies in the 1990s. Second, increasing financial openness is associated with rising relative volatility of consumption, but only up to a certain threshold. The benefits of financial integration in terms of improved risk-sharing and consumption-smoothing possibilities appear to accrue only beyond this threshold.
Author : Mr.Kangni R Kpodar,Mr.Maelan Le Goff,Mr.Raju J Singh
Publisher : International Monetary Fund
Page : 35 pages
File Size : 46,9 Mb
Release : 2019-03-25
Category : Business & Economics
ISBN : 9781498303569
This paper contributes to the literature by looking at the possible relevance of the structure of the financial system—whether financial intermediation is performed through banks or markets—for macroeconomic volatility, against the backdrop of increased policy attention on strengthening growth resilience. With low-income countries (LICs) being the most vulnerable to large and frequent terms of trade shocks, the paper focuses on a sample of 38 LICs over the period 1978-2012 and finds that banking sector development acts as a shock-absorber in poor countries, dampening the transmission of terms of trade shocks to growth volatility. Expanding the sample to 121 developing countries confirms this result, although this role of shock-absorber fades away as economies grow richer. Stock market development, by contrast, appears neither to be a shock-absorber nor a shock-amplifier for most economies. These findings are consistent across a range of econometric estimators, including fixed effect, system GMM and local projection estimates.
Author : Daniel Lederman,Justin T. Lesniak
Publisher : World Bank Publications
Page : 132 pages
File Size : 49,5 Mb
Release : 2017-11-08
Category : Business & Economics
ISBN : 9781464810435
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.
Author : Michael Davenport
Publisher : Commonwealth Secretariat
Page : 82 pages
File Size : 40,9 Mb
Release : 2002
Category : Business & Economics
ISBN : 0850927404
Suggests alternatives to traditional differential treatment for small states in facilitating their paricipation in world trade.
Author : Ann Harrison
Publisher : University of Chicago Press
Page : 675 pages
File Size : 51,8 Mb
Release : 2007-11-01
Category : Business & Economics
ISBN : 9780226318004
Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.
Author : Dongyeol Lee,Huan Zhang
Publisher : International Monetary Fund
Page : 24 pages
File Size : 45,7 Mb
Release : 2019-05-24
Category : Business & Economics
ISBN : 9781498315654
Export structure is less diversified in low-income countries (LICs) and especially small states that face resource constraints and small economic size. This paper explores the potential linkages between export structure and economic growth and its volatility in LICs and small states, using a range of indices of export concentration differing in the coverage of industries. The empirical analysis finds that export diversification may promote economic growth and reduce economic volatility in these countries. Furthermore, the analysis demonstrates that the economic benefits of export diversification differ by country size and income level—there are bigger benefits for relatively larger and poorer countries within the group of LICs and small states.
Author : R. Bernal
Publisher : Springer
Page : 269 pages
File Size : 45,7 Mb
Release : 2013-12-18
Category : Business & Economics
ISBN : 9781137356314
This is the most in-depth study of the economic partnership between the European Union and the CARIFORUM countries, a group of fifteen small developing economies in the Caribbean. The CARIFORUM-EU Economic Partnership Agreement (EPA) is the first trade agreement of its kind, as it is a new type of WTO-compatible trade agreement between a group of developed countries and a group of developing countries. As a principal negotiator for CARIFORUM, Bernal's qualifications allow him to provide a unique perspective on the increasingly important topic of trade and economic development in the midst of globalization. Globalization, Trade, and Economic Development comprehensively explores the components of the EPA from all angles, explains how the agreement provides opportunities to strengthen and accelerate economic development, and outlines the policies which can allow the CARIFORUM countries to seize these opportunities. Bernal's explanation of the institutional arrangements for the conduct of the negotiations by CARIFORUM is invaluable to governments and regional organizations in developing countries for coordinating groups to advance common and joint positions in international negotiations.
Author : Lino Briguglio
Publisher : Routledge
Page : 628 pages
File Size : 49,7 Mb
Release : 2018-05-11
Category : Political Science
ISBN : 9781351181839
This handbook covers a wide spectrum of issues relating to small states. Chapters in the volume have been grouped under the three main themes of economic, social and environmental issues. The economics sections include chapters dealing with trade, finance and regulatory frameworks, while the social theme covers health, migration, population ageing, as well as overall social wellbeing. The environmental theme examines matters such as measuring environmental performance, natural disasters, the ocean economy, and the validity of the Sustainable Development Goals. One major issue is the definition of small states. As this volume demonstrates, generally speaking, population is used to measure country size in the literature. However, it clearly emerges that there is no real consensus as to the population cut-off point that distinguishes small states from large ones. While the approaches taken by the authors vary, in all cases the chapters draw practical policy implications for small states. The book can therefore be considered as a wide-ranging depositary of information on small states with the aim of deriving policy prescriptions, and thus as an excellent resource for academics, students and policymakers.
Author : Andrea Ciani,Marie Caitriona Hyland,Nona Karalashvili,Jennifer L. Keller,Trang Thu Tran
Publisher : World Bank Publications
Page : 178 pages
File Size : 55,5 Mb
Release : 2020-10-08
Category : Business & Economics
ISBN : 9781464815584
Economic and social progress requires a diverse ecosystem of firms that play complementary roles. Making It Big: Why Developing Countries Need More Large Firms constitutes one of the most up-to-date assessments of how large firms are created in low- and middle-income countries and their role in development. It argues that large firms advance a range of development objectives in ways that other firms do not: large firms are more likely to innovate, export, and offer training and are more likely to adopt international standards of quality, among other contributions. Their particularities are closely associated with productivity advantages and translate into improved outcomes not only for their owners but also for their workers and for smaller enterprises in their value chains. The challenge for economic development, however, is that production does not reach economic scale in low- and middle-income countries. Why are large firms scarcer in developing countries? Drawing on a rare set of data from public and private sources, as well as proprietary data from the International Finance Corporation and case studies, this book shows that large firms are often born large—or with the attributes of largeness. In other words, what is distinct about them is often in place from day one of their operations. To fill the “missing top†? of the firm-size distribution with additional large firms, governments should support the creation of such firms by opening markets to greater competition. In low-income countries, this objective can be achieved through simple policy reorientation, such as breaking oligopolies, removing unnecessary restrictions to international trade and investment, and establishing strong rules to prevent the abuse of market power. Governments should also strive to ensure that private actors have the skills, technology, intelligence, infrastructure, and finance they need to create large ventures. Additionally, they should actively work to spread the benefits from production at scale across the largest possible number of market participants. This book seeks to bring frontier thinking and evidence on the role and origins of large firms to a wide range of readers, including academics, development practitioners and policy makers.
Author : Arnold McIntyre,Mike Xin Li,Ke Wang,Hanlei Yun
Publisher : International Monetary Fund
Page : 23 pages
File Size : 53,5 Mb
Release : 2018-04-11
Category : Business & Economics
ISBN : 9781484351017
The paper considers concepts of economic diversification with respect to exports (including service sectors) for small states. We assessed the economic performance of different groups of 34 small states over the period of 1990-2015 and found those more diversified experienced lower output volatility and higher average growth than most other small states. Our findings are consistent with conventional economic theories but we found that export diversification has a more significant impact on reducing output volatility than improving long run growth in small states. Diversification requires fundamental changes and should be contemplated in the context of a cohesive development strategy.
Author : Roman Grynberg
Publisher : Cambridge University Press
Page : 735 pages
File Size : 40,8 Mb
Release : 2006-12-14
Category : Law
ISBN : 9781139460545
At a pivotal point in the history of the WTO, when development issues are at the heart of negotiations, how the larger and more powerful members address the legitimate concerns of its poorest and most vulnerable members will shape the perception of the institution throughout the century. This book aims not only to document almost ten years of experience of small states with the WTO but also to explain this experience. It takes an evidential theory approach to explaining the features characteristic to the trade and economic development of small island states. It then highlights the issues of concern to these states in relation to negotiations at the WTO. The experience of the African Caribbean and Pacific (ACP) countries with the WTO dispute settlement mechanism is discussed, and the book ends with a discussion of key negotiating issues for the island states and institutional arrangements to facilitate reform.
Author : Clive Archer,Alyson J.K. Bailes,Anders Wivel
Publisher : Routledge
Page : 290 pages
File Size : 47,8 Mb
Release : 2014-03-14
Category : Political Science
ISBN : 9781317755364
This book explains what ‘small’ states are and explores their current security challenges, in general terms and through specific examples. It reflects the shift from traditional security definitions emphasizing defence and armaments, to new security concerns such as economic, societal and environmental security where institutional cooperation looms larger. These complex issues, linked with traditional power relations and new types of actors, need to be tackled with due regard to democracy and good governance. Key policy challenges for small states are examined and applied in the regional case studies. The book deals mainly with the current experience and recent past of such states but also offers insights for their future policies. Although many of the states covered are European, the study also includes African, Caribbean and Asian small states. Their particular interest and relevance is outlined, as is the connection between their security challenges and their smallness. Policy lessons for other states are then sought. The book is the first in-depth, multi-continent study of security as an aspect of small state governance today. It is novel in placing the security dilemmas of small states in the context of wider ideas on international and institutional change, and in dealing with non-European states and regions.
Author : Ian A. Lubin
Publisher : Springer
Page : 197 pages
File Size : 42,7 Mb
Release : 2017-10-11
Category : Education
ISBN : 9783319676579
This timely analysis brings greater clarity to the question of how ICT-supported innovations are experienced in small low- to middle-income countries and developing regions with implications for international education and development. By bringing together a group of international technologists, researchers, and scholars, this book explores the building of local capacity for educational technology policy and application in such regions and ably links theory to practice to illuminate how the issues at hand play out in professional practice. The volume offers itself as an invaluable resource by offering a salient assessment of the existent methodological and ecological challenges and constraints in developing, implementing, and evaluating technology and technology research, while simultaneously providing recommendations and strategy for future policy and implementation. Among the topics covered: The research agenda for technology, education, and development. ICT curriculum planning and development: policy and implementation lessons from small developing states. New challenges for ICT in education policies in developing countries. Playful partnerships for game-based learning in international contexts. Addressing persistent ICT-in-education challenges in small developing countries. ICT-Supported Innovations in Small Countries and Developing Regions is of significant interest to educational technology researchers, policymakers, and officials with influence over resource allocation and implementation of technology innovations. It is also relevant to administrators, teachers, instructional designers, and technology evaluators interested in advancing educational communications and technology in public and private settings.
Author : Mr.Ayhan Kose,Mr.Julian Di Giovanni,Mr.Andre Faria,Mr.Martin Schindler,Mr.Giovanni Dell'Ariccia,Mr.Paolo Mauro,Mr.Jonathan David Ostry,Mr.Marco Terrones
Publisher : International Monetary Fund
Page : 46 pages
File Size : 52,7 Mb
Release : 2008-12-16
Category : Business & Economics
ISBN : 9781589067486
Financial globalization has increased dramatically over the past three decades, particularly for advanced economies, while emerging market and developing countries experienced more moderate increases. Divergences across countries stem from different capital control regimes, and factors such as institutional quality and domestic financial development. Although, in principle, financial globalization should enhance international risk sharing, reduce macroeconomic volatility, and foster economic growth, in practice its effects are less clear-cut. This paper envisages a gradual and orderly sequencing of external financial liberalization and complementary reforms in macroeconomic policy framework as essential components of a successful liberalization strategy.