Found 1242 article(s) for author 'Economic Growth'

The Causal Impact of Education on Economic Growth: Evidence from U.S.

The Causal Impact of Education on Economic Growth: Evidence from U.S. Philippe Aghion, March 2009, Paper. “Should countries or regions (generically, “states”) invest more in education to promote economic growth? Policy makers often assert that if their state spends more on educating its population, incomes will grow sufficiently to more than recover the investment. Economists and others have proposed many channels through which education may affect growth–not merely the private returns to individuals’ greater human capital but also a variety of externalities…” Link

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When Does Domestic Saving Matter for Economic Growth?

When Does Domestic Saving Matter for Economic Growth? Philippe Aghion and Diego Comin, January 4, 2009, Paper. “Can a country grow faster by saving more? We address this question both theoretically and empirically. In our theoretical model, growth results from innovations that allow local sectors to catch up with frontier technology. In poor countries, catching up requires the cooperation of a foreign investor who is familiar with the frontier technology and a domestic entrepreneur who is familiar with local conditions…” Link

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The Aftermath of Financial Crises

The Aftermath of Financial Crises. Carmen M. Reinhart, Kenneth Rogoff, 2009, Paper. “A year ago, we presented a historical analysis comparing the run-up to the 2007 US subprime financial crisis with the antecedents of other banking crises in advanced economies since World War II (Reinhart and Rogoff 2008a). We showed that standard indicators for the United States, such as asset price inflation, rising leverage, large sustained current account deficits, and a slowing trajectory of economic growth, exhibited virtually all the signs of a country on the verge of a financial crisis—indeed, a severe one. In this paper, we engage in a similar comparative historical analysis that is focused on the aftermath of systemic banking crises…Link

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Exchange Rate Volatility and Productivity Growth: The Role of Financial Development

Exchange Rate Volatility and Productivity Growth: The Role of Financial Development. Philippe Aghion, Kenneth Rogoff, 2009, Paper. “This paper offers empirical evidence that real exchange rate volatility can have a significant impact on long-term rate of productivity growth, but the effect depends critically on a country’s level of financial development. For countries with relatively low levels of financial development, exchange rate volatility generally reduces growth, whereas for financially advanced countries, there is no significant effect. Our empirical analysis is based on an 83 country data set spanning the years 1960-2000…”  Link

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The Global Competitiveness Report 2008-2009

The Global Competitiveness Report 2008-2009. Michael Porter, January 1, 2009, Book. “This year’s Global Competitiveness Report is being released at a time of multiple shocks to the global economy. The subprime mortgage crisis and the ensuing credit crunch, combined with rising inflation worldwide and the consequent slowdown in demand in many advanced economies, has engendered significant uncertainty about the short-term outlook for the world economy. Global growth is slowing, and it is not yet clear when the effects of the present crisis will subside…” Link

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The Mexico Competitiveness Report 2009

The Mexico Competitiveness Report 2009. Ricardo Hausmann, 2009, Paper. “The key strengths and weaknesses of Mexico’s economic landscape are explored in a comprehensive new report co-produced by the World Economic Forum (WEF) and Harvard’s Center for International Development (CID). The Mexico Competitiveness Report 2009 was released in late June at a workshop in Mexico City attended by several top-level government officials, including Mexican President Felipe Calderón MPA/MC 2000…” Link

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The Relationship Between Health and Growth: When Lucas Meets Nelson-Phelps

The Relationship Between Health and Growth: When Lucas Meets Nelson-Phelps. Philippe Aghion, 2009, Paper. “This paper revisits the relationship between health and growth in light of modern endogenous growth theory. We propose an unified framework that encompasses the growth effects of both, the accumulation and the level of health. Based on cross-country regressions where we instrument for both variables, we find that a higher initial level and a higher rate of improvement in life expectancy, both have a significantly…” Link

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International Aspects of Financial-Market Imperfections: The Aftermath of Financial Crises

International Aspects of Financial-Market Imperfections: The Aftermath of Financial Crises. Kenneth Rogoff, 2009, Paper. “A year ago, we presented a historical analysis comparing the run-up to the 2007 US subprime financial crisis with the antecedents of other banking crises in advanced economies since World War II (Reinhart and Rogoff 2008a). We showed that standard indicators for the United States, such as asset price inflation, rising leverage, large sustained current account deficits, and a slowing trajectory of economic growth, exhibited virtually all the signs of a country on the verge of a financial crisis…” Link

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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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