Productive Development In Open Economies

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Economic Growth in an Open Developing Economy

A. P. Thirlwall
Economic Growth in an Open Developing Economy Book PDF

Author : A. P. Thirlwall
Publisher : Edward Elgar Publishing
Page : 201 pages
File Size : 42,8 Mb
Release : 2013-01-01
Category : Business & Economics
ISBN : 9781781955338

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Economic Growth in an Open Developing Economy by A. P. Thirlwall Pdf

This concise yet insightful sequel to the highly acclaimed The Nature of Economic Growth provides a comprehensive critique of both old and new growth theory, highlighting the importance of economic growth for reducing poverty. A.P. Thirlwall illustrates that orthodox growth theory continues to work with Ôone-goodÕ models and to treat factor supplies as exogenously given, independent of demand. Orthodox trade theory still ignores the balance of payments consequences of different patterns of trade specialisation when assessing the welfare effects of trade. The author goes on to present theory underpinned by up-to-date empirical evidence that factors of production and productivity growth are endogenous to demand, and that the structure of production and trade matter for the long-run growth performance of countries because of their impact on the balance of payments. He concludes that trade liberalisation has proved disappointing in improving the trade-off between growth and the balance of payments. This book will provide a challenging read for students and academics in the fields of economics, heterodox economics, and development. Policymakers focussing on the relationship between growth, trade and the balance of payments will also find the book to be of great interest.

Wages, Profitability, and Growth in a Small Open Economy

Mr.Bankim Chadha
Wages Profitability and Growth in a Small Open Economy Book PDF

Author : Mr.Bankim Chadha
Publisher : International Monetary Fund
Page : 40 pages
File Size : 49,6 Mb
Release : 1990-05-01
Category : Business & Economics
ISBN : 9781451974188

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Wages, Profitability, and Growth in a Small Open Economy by Mr.Bankim Chadha Pdf

This paper examines issues raised by the evolution of a rapidly growing small open economy—Singapore—from a labor-intensive, low-technology production base to a capital-intensive, high-technology, knowledge-and-skill-intensive emphasis as it approached the limits of its resource constraints in the labor market. In order to analyze the process of restructuring a model of endogenous growth for a small open economy that is driven by increases in labor productivity from learning and that allows for the dynamic acquisition of comparative advantage is developed. In this framework the effects of various policies and exogenous shocks on the direction and pace of restructuring are investigated.

Development and Stabilization in Small Open Economies

DeLisle Worrell
Development and Stabilization in Small Open Economies Book PDF

Author : DeLisle Worrell
Publisher : Taylor & Francis
Page : 391 pages
File Size : 51,9 Mb
Release : 2023-01-06
Category : Political Science
ISBN : 9781000824544

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Development and Stabilization in Small Open Economies by DeLisle Worrell Pdf

This book analyses and explains the nature of the economies of small countries and territories. It includes an assessment of material prosperity in 41 small open economies worldwide, with case studies focusing on the Caribbean and Central America, with a review of the development of their economies in recent decades. The volume recommends a suite of economic policy tools for the management of these economies, demonstrating how these may best be employed in economies that live and breathe through international commerce. Among observations of interest is the fact that the devaluation of the local currency of a small nation makes the country worse off; even a currency that maintains its value is little more than a trophy, of little value if it is not readily convertible into US dollars. Also, that while government policies affect international competitiveness and a small country's growth prospects, more important is how governments use additional resources to improve the quality of health and educational services. Moreover, economic windfalls such as the discovery of mineral resources seldom bring prosperity commensurate with their economic value, and never in the short run. The volume will offer invaluable information and analysis to researchers and policy makers investigating small open economies.

Global Productivity

Alistair Dieppe
Global Productivity Book PDF

Author : Alistair Dieppe
Publisher : World Bank Publications
Page : 552 pages
File Size : 53,9 Mb
Release : 2021-06-09
Category : Business & Economics
ISBN : 9781464816093

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Global Productivity by Alistair Dieppe Pdf

The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD

Five Small Open Economies

Ronald Findlay,Stanislaw Wellisz
Five Small Open Economies Book PDF

Author : Ronald Findlay,Stanislaw Wellisz
Publisher : World Bank Publications
Page : 364 pages
File Size : 47,9 Mb
Release : 1993
Category : Business & Economics
ISBN : 0195208803

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Five Small Open Economies by Ronald Findlay,Stanislaw Wellisz Pdf

Mauritius, a multiethnic society, has turned to manufactured exports and tourism as an alternative to reliance on sugar production. Malta overcame the shock of losing a British naval base and has grown rapidly.

The Open Economy and the Environment

Ian Coxhead,S. K. Jayasuriya
The Open Economy and the Environment Book PDF

Author : Ian Coxhead,S. K. Jayasuriya
Publisher : Edward Elgar Publishing
Page : 266 pages
File Size : 45,9 Mb
Release : 2003
Category : Business & Economics
ISBN : UOM:39015056492922

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The Open Economy and the Environment by Ian Coxhead,S. K. Jayasuriya Pdf

This work asks what globalization means for environmental quality and the use of natural resources in developing economies. The authors develop theoretical models that trace the effects of trade and trade liberalization on sectoral resource allocation, factor returns, income and welfare, as well as incentives to clear forest and degrade agricultural land. The models reflect important developing economy features including spacial distinctions between uplands and lowlands, open-access forest resources and the special features of domestic food products. The authors also analyse representative economy submodels, explore empirical cases based on applied general equilibrium models of Asian economies, and examine welfare and environmental implications of migration, trade liberalization and development policy.

Economic Growth and Development

Sibabrata Das,Alex Mourmouras,Peter C. Rangazas
Economic Growth and Development Book PDF

Author : Sibabrata Das,Alex Mourmouras,Peter C. Rangazas
Publisher : Springer
Page : 272 pages
File Size : 48,9 Mb
Release : 2015-01-12
Category : Business & Economics
ISBN : 9783319142654

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Economic Growth and Development by Sibabrata Das,Alex Mourmouras,Peter C. Rangazas Pdf

Growth theory provides a rich and versatile analytical framework through which fundamental questions about economic development can be examined. This book is an introduction to the newer features of growth theory that are particularly useful in examining the issues of economic development. Structural transformation, in which developing countries transition from traditional production in largely rural areas to modern production in largely urban areas, is an important causal force in creating early economic growth, and as such, is made central in this approach. Towards this end, the authors augment the Solow model to include endogenous theories of saving, fertility, human capital, institutional arrangements, and policy formation, creating a single two-sector model of structural transformation. Based on applied research and practical experiences in macroeconomic development, the model in this book presents a more rigorous, quantifiable, and explicitly dynamic dual economy approach to development. Common microeconomic foundations and notation are used throughout, with each chapter building on the previous material in a continuous flow. With its single model and focus on data and policy analysis, this text is intended for beginning graduate students and policy makers interested in economic development.

Development Strategies of Open Economies

Frank S. T. Hsiao,Mei-Chu Wang Hsiao
Development Strategies of Open Economies Book PDF

Author : Frank S. T. Hsiao,Mei-Chu Wang Hsiao
Publisher : World Scientific Publishing Company
Page : 0 pages
File Size : 43,8 Mb
Release : 2020
Category : East Asia
ISBN : 981120540X

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Development Strategies of Open Economies by Frank S. T. Hsiao,Mei-Chu Wang Hsiao Pdf

Causality and exogeneity between exports and economic growth : the case of Asian NICs -- The chaotic attractor of foreign direct investment : why China? : a panel data analysis -- FDI, exports, and GDP in East and Southeast Asia : panel data versus time-series causality analyses -- FDI, exports, economic growth nexus in first and second generation ANIEs / co-authored with Yongkul Won -- The IT revolution and macroeconomic volatility in newly developed countries : on the real and financial linkages -- The impacts of the U.S. economy on the Asia-Pacific region : does it matter? / co-authored with Akio Yamashita -- Gains from policy coordination between Taiwan and the USA : on the games governments play -- International policy coordination with a dominant player : the case of the United States, Japan, Taiwan, and Korea.

Firm Innovation and Productivity in Latin America and the Caribbean

Inter-American Development Bank,Matteo Grazzi,Carlo Pietrobelli
Firm Innovation and Productivity in Latin America and the Caribbean Book PDF

Author : Inter-American Development Bank,Matteo Grazzi,Carlo Pietrobelli
Publisher : Springer
Page : 346 pages
File Size : 48,7 Mb
Release : 2016-07-01
Category : Business & Economics
ISBN : 9781349581511

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Firm Innovation and Productivity in Latin America and the Caribbean by Inter-American Development Bank,Matteo Grazzi,Carlo Pietrobelli Pdf

This volume uses the study of firm dynamics to investigate the factors preventing faster productivity growth in Latin America and the Caribbean, pushing past the limits of traditional macroeconomic analyses. Each chapter is dedicated to an examination of a different factor affecting firm productivity - innovation, ICT usage, on-the-job-training, firm age, access to credit, and international linkages - highlighting the differences in firm characteristics, behaviors, and strategies. By showcasing this remarkable heterogeneity, this collection challenges regional policymakers to look beyond one-size-fits-all solutions and create balanced policy mixes tailored to distinct firm needs. This book is open access under a CC BY-NC-ND 3.0 IGO license.

Innovations in Macroeconomics

Paul J.J. Welfens
Innovations in Macroeconomics Book PDF

Author : Paul J.J. Welfens
Publisher : Springer Science & Business Media
Page : 634 pages
File Size : 50,6 Mb
Release : 2009-12-23
Category : Business & Economics
ISBN : 9783642119095

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Innovations in Macroeconomics by Paul J.J. Welfens Pdf

Modern macroeconomics suffers from an unclear link between short-term Keynesian analysis and long-term growth modelling. This book presents a new link between monetary analysis and growth modelling in open economies. Structural change, innovations and growth are considered from a new perspective. With respect to economic policy - in particular innovation policy - the analysis implies major changes, concerning both EU countries and other leading OECD economies.

Development Theory and the Economics of Growth

Jaime Ros
Development Theory and the Economics of Growth Book PDF

Author : Jaime Ros
Publisher : University of Michigan Press
Page : 452 pages
File Size : 51,7 Mb
Release : 2001
Category : Business & Economics
ISBN : 0472088475

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Development Theory and the Economics of Growth by Jaime Ros Pdf

Why are some countries richer than others? Why do some economies grow so much faster than others do? Do economies tend to converge at similar levels of per capita income? Or is catching up simply impossible? These questions have vast implications for human welfare. After a period of lack of interest in growth theory, they are back on the research agenda of mainstream economics. They have also been at the heart of development economics since its inception some decades ago. This book endeavors to answer such questions by blending classical contributions to development theory with recent developments in the economics of growth. The unifying theme is that early theoretical insights and accumulated empirical knowledge of development economics have much to offer to research in the theory and empirics of economic growth. With the help of a number of recent contributions, the ideas and insights of the classical literature in development economics can be given simple and rigorous formulations. Together, they amount to an approach to growth theory that can overcome the long-recognized empirical shortcomings of neoclassical growth economics, while being free from the objections that can be raised against the new brand of endogenous growth theory. In addition to an original thesis on the contribution that early development theory can make to the research program of modern growth economics, the book provides professional and research economists and graduate students with an evaluation of the strengths and limitations of the different strands of inquiry in the modern economics of growth. In addition it presents findings on comparative growth performance across countries. Jaime Ros is Professor of Economics and Faculty Fellow of the Helen Kellogg Institute of International Studies, University of Notre Dame.

The Political Economy of Development: The open economy and the state in development

Amitava Krishna Dutt
The Political Economy of Development The open economy and the state in development Book PDF

Author : Amitava Krishna Dutt
Publisher : Unknown
Page : 624 pages
File Size : 53,9 Mb
Release : 2002
Category : Development economics
ISBN : STANFORD:36105025376927

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The Political Economy of Development: The open economy and the state in development by Amitava Krishna Dutt Pdf

This three-volume set collects previously published articles in the field of development economics, covering alternative approaches and going beyond the boundaries of economics narrowly defined. Some of the included papers are classic contributions, some are authoritative survey articles and others are more recent contributions. The collection covers topics such as: underdevelopment, growth and income distribution; resources in development; sectoral issues; open economy issues; and economic policies and institutions. The final section offers appraisals of the present state and future evolution of development economics.

At Your Service?

Gaurav Nayyar,Mary Hallward-Driemeier,Elwyn Davies
At Your Service Book PDF

Author : Gaurav Nayyar,Mary Hallward-Driemeier,Elwyn Davies
Publisher : World Bank Publications
Page : 364 pages
File Size : 52,7 Mb
Release : 2021-10-18
Category : Business & Economics
ISBN : 9781464817106

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At Your Service? by Gaurav Nayyar,Mary Hallward-Driemeier,Elwyn Davies Pdf

Manufacturing-led development has provided the traditional model for creating jobs and prosperity. But in the past three decades the conventional pattern of structural transformation has changed, with the services sector growing faster than the manufacturing sector. This raises critical questions about the ability of developing economies to close productivity gaps with advanced economies and to create good jobs for more people. At Your Service? The Promise of Services-Led Development (www.worldbank.org/services-led-development) assesses the scope of a services-driven development model and policy directions that can maximize the model’s potential.

Open and Nimble

Daniel Lederman,Justin T. Lesniak
Open and Nimble Book PDF

Author : Daniel Lederman,Justin T. Lesniak
Publisher : Unknown
Page : 116 pages
File Size : 54,9 Mb
Release : 2017-10-25
Category : States, Small
ISBN : 1464810427

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Open and Nimble by Daniel Lederman,Justin T. Lesniak Pdf

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.

The Open Economy

Rudiger Dornbusch
The Open Economy Book PDF

Author : Rudiger Dornbusch
Publisher : World Bank Publications
Page : 430 pages
File Size : 48,7 Mb
Release : 1988
Category : Business & Economics
ISBN : 9780195207095

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The Open Economy by Rudiger Dornbusch Pdf

This important book is a teaching manual, in nontechnical language, on policymaking in developing countries. Written at the request of the Economic Development Institute of the World Bank, the papers focus on policy instruments, their use and constraints, and provide case studies of economic policy in Argentina, Brazil, Indonesia, Korea, and Mexico to illustrate basic problems and possible solutions.