Found 1323 article(s) in category 'Economic Growth'

Widening Inequality Combined with Modest Growth

Widening Inequality Combined with Modest Growth. Benjamin Friedman, January 2009, Paper. “The crisis triggered by the collapse of subprime mortgage lending in the United States has already resulted in the worst financial turmoil since the 1930s. The U.S. economy is now in recession, and the public is anxiously watching to see just how badly, and for how long, these events in the financial markets will depress non-financial economic activity. Business in most other industrialized countries is slipping as well. Most citizens, in most countries, fear that their incomes and perhaps their living standards as well will suffer…” Link

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The Economics of Growth

The Economics of Growth. Philippe Aghion, December 19, 2008, Book. “This comprehensive introduction to economic growth presents the main facts and puzzles about growth, proposes simple methods and models needed to explain these facts, acquaints the reader with the most recent theoretical and empirical developments, and provides tools with which to analyze policy design. The treatment of growth theory is fully accessible to students with a background no more advanced than elementary calculus and probability theory…” Link

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Banking Crises: An Equal Opportunity Menace

Banking Crises: An Equal Opportunity Menace. Kenneth Rogoff, Carmen Reinhart, December 2008, Paper. “The historical frequency of banking crises is quite similar in high- and middle-to-low-income countries, with quantitative and qualitative parallels in both the run-ups and the aftermath. We establish these regularities using a unique dataset spanning from Denmark’s financial panic during the Napoleonic War to the ongoing global financial crisis sparked by subprime mortgage defaults in the United States. Banking crises dramatically weaken fiscal positions in both groups, with government revenues invariably contracting, and fiscal…” Link

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Why America Needs an Economic Strategy

 Why America Needs an Economic Strategy. Michael Porter, October 29, 2008, Opinion. “With the U.S. Election just days away, it has never been more important to consider what the next President must do to keep America competitive. In this time of crisis, Washington has focused on the immediate and the short term. Lost are the more basic questions we really need to worry about: What is the fundamental competitive position of the U.S. in the global economy? And what must we do to remain strong when other nations are making rapid progress? The stark truth is that the U.S. has no long-term economic strategy—no coherent set of policies to ensure competitiveness over the long haul…Link

 

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The New Development Economics

The New Development Economics. Dani Rodrik, October 29, 2008, Book Chapter. “Development economics is split between macro-development economists – who focus on economic growth, international trade, and fiscal/macro policies – and micro-development economists – who study microfinance, education, health, and other social programs. Recently there has been substantial convergence in the policy mindset exhibited by micro evaluation enthusiasts, on the one hand, and growth diagnosticians, on the other. At the same time, the randomized evaluation revolution has led to an accentuation of the methodological divergence…Link

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On Competition, Updated and Expanded Edition

On Competition, Updated and Expanded Edition. Michael Porter, October 1, 2008, Book. “For the past two decades, Michael Porter’s work has towered over the field of competitive strategy. On Competition, Updated and Expanded Edition brings together more than a dozen of Porter’s landmark articles from the Harvard Business Review. Five are new to this edition, including the 2008 update to his classic “The Five Competitive Forces That Shape Strategy,” as well as new work on health care, philanthropy, corporate social responsibility, and CEO leadership. This collection captures Porter’s unique ability to bridge theory and practice…” May require purchase or user account, Link

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The Economics of Place-Making Policies

The Economics of Place-Making Policies. Edward Glaeser, Joshua Gottlieb, October 2008, Paper. “Should the national government undertake policies aimed at strengthening the economies of particular localities or regions? Agglomeration economies and human capital spillovers suggest that such policies could enhance welfare. However, the mere existence of agglomeration externalities does not indicate which places should be subsidized. Without a better understanding of nonlinearities in these externalities, any government spatial policy is as likely to reduce as to increase welfare. Transportation spending has historically done…” Link

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South Africa’s export predicament

South Africa’s export predicament. Ricardo Hausmann, September 17, 2008, Paper. “Using South Africa as an example, this article explores how the structure of production affects export diversification and economic growth. We show that the lagging process of structural transformation is part of the explanation for stagnant exports per capita in South Africa over the past 40 years. This slow structural transformation is shown to be a consequence in part of the peripheral nature of South Africa’s productive capabilities…” May require purchase or user account. Link

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Policymaking for Posterity

Policymaking for Posterity. Lawrence Summer, Richard Zeckhauser, September 2008, Paper. “Policymaking for posterity involves current decisions with distant consequences. Contrary to conventional prescriptions, we conclude that the greater wealth of future generations may strengthen the case for preserving environmental amenities; lower discount rates should be applied to the far future, and special effort should be made to avoid actions that impose costs on future generations. — Posterity brings great uncertainties. Even massive losses, such as human extinction, however, do not merit infinite negative utility. Given learning…” Link

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In search of the chains that hold Brazil back

In search of the chains that hold Brazil back, Ricardo Hausmann, September 2008, Paper, This paper performs a Growth Diagnostic for Brazil. It shows that many aspects of the Brazilian economy have been improving including the macro picture, educational progress and the external front. Moreover, Brazil has many productive possibilities and high-return investments. Yet growth is hampered because of a relatively old-fashioned problem that has been solved in many other countries in the region: creating a financially viable state that does not over-borrow, over-tax or under-invest. We show that domestic saving is the binding constraint on growth and that it has a fiscal cause. Although things are trending in the right direction, the challenge is to exploit the current good times to create the fiscal basis for a sustained growth acceleration. Link

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