Found 106 article(s) for author 'Ricardo Hausmann'

The growing current account surpluses in East Asia: the effect of dark matter assets

The growing current account surpluses in East Asia: the effect of dark matter assets. Ricardo Hausmann, June 12, 2008, Paper. “In a series of papers we have developed the notion that net foreign assets could be better approximated by capitalizing the net investment income line of the balance of payments statistics. Hidden assets or changes in financial costs may change the net return of net foreign assets even when the valuation of assets remains unchanged. By capitalizing the net investment income a more realistic picture emerges on the true burden or return of net foreign assets. This paper estimates external positions for East Asian economies…” Link

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Examining Beneficiation

Examining Beneficiation, Ricardo Hausmann, Robert Lawrence, May 2008, Paper, Beneficiation, moving downstream, and promoting greater value added in natural resources are very common policy initiatives to stimulate new export sectors in developing countries, largely based on the premise that this is a natural and logical path for structural transformation. But upon closer examination, we find that very few countries that export raw materials also export their processed forms, or transition to greater processing. Link

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Final Recommendations of the International Panel on ASGISA

Final Recommendations of the International Panel on ASGISA, Ricardo Hausmann, May 2008, Paper, As part of the Accelerated and Shared Growth Initiative (ASGI-SA), the National Treasury of the Republic of South Africa convened an international panel of economists through Harvard’s Center for International Development. This panel spent two years analyzing the South African economy and its growth prospects, and composed 20 papers spanning all aspects of economic policy. The present paper synthesizes this body of work. We summarize the panel’s assessment of the binding constraints to growth in South Africa and provide specific policy recommendations to help achieve the goal of accelerated and shared growth. Link

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Reconfiguring Industrial Policy: A Framework with an Application to South Africa

Reconfiguring Industrial Policy: A Framework with an Application to South Africa. Ricardo Hausmann, Dani Rodrik, May 2008. “The main purpose of industrial policy is to speed up the process of structural change towards higher productivity activities. This paper builds on our earlier writings to present an overall design for the conduct of industrial policy in a low- to middle-income country. It is stimulated by the specific problems faced by South Africa and by our discussions with business and government officials in that country. We present specific recommendations for the South African government in the penultimate section of the paper.” Link

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The Global Gender Gap Report 2008

The Global Gender Gap Report 2008. Ricardo Hausmann, 2008, Paper. In the midst of the current economic downturn, policy-makers and business leaders are struggling to manage short-term shocks, prepare their economies to perform well in a medium-term economic landscape characterized by growing volatility and develop institutions and regulations to stave off such crises in the future. It is more important now than ever before for countries and companies to pay heed to one of the fundamental cornerstones of economic growth available to them…” Link

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The Missing Dark Matter in the Wealth of Nations and its Implications for Global Imbalances

The Missing Dark Matter in the Wealth of Nations and its Implications for Global Imbalances. Ricarrdo Hausmann, August 24, 2007. “Current account statistics may not be good indicators of the evolution of a country’s net foreign assets and of its external position’s sustainability. The value of existing assets may vary independently of current account flows, so-called ‘return privileges’ may allow some countries to obtain abnormal returns, and mis-measurement of FDI, unreported trade of insurance or liquidity services, and debt relief may also play a role. We analyze the relevant evidence in a large set of countries and periods, and examine measures…” Link

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The Product Space Conditions in the Development of Nations

The Product Space Conditions in the Development of Nations. Ricardo Hausmann, July 27, 2007, Paper. “Economies grow by upgrading the products they produce and export. The technology, capital, institutions, and skills needed to make newer products are more easily adapted from some products than from others. Here, we study this network of relatedness between products, or “product space,” finding that more-sophisticated products are located in a densely connected core whereas less-sophisticated products occupy a less-connected periphery. Empirically, countries move through the product space by developing goods close to those…” Link

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Structural Transformation in Chile

Structural Transformation in Chile. Ricardo Hausmann, June 2007, Paper. “Chile’s robust economic growth during Latin America’s period of economic stagnation has earned it the reputation of an economic star. However, the impressive growth during the 1980s and 1990s seems to be cooling down. The following figure shows GDP per worker and investment per worker from 1960 to 2004, both of which level off in the late 1990s…” Link

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The Valuation of Hidden Assets in Foreign Transactions: Why “Dark Matter” Matters

The Valuation of Hidden Assets in Foreign Transactions: Why “Dark Matter” Matters. Ricardo Hausmann, May 27, 2007, Paper. “This paper clarifies how the valuation of hidden assets—what we call “dark matter”—changes our assessment of the U.S. external imbalance. Dark matter assets are defined as the capitalized value of the return privilege obtained by U.S. assets. Because this return privilege has been steady over recent decades, it is likely to persist in the future or even to increase, as it becomes leveraged by…”  May require purchase or user account. Link

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South Africa: Identifying the binding constraint on shared growth

South Africa: Identifying the binding constraint on shared growth, Ricardo Hausmann, Dani Rodrik, April 16, 2007, Paper,  South Africa has undergone a remarkable transition since the end of apartheid in 1994. The democratically elected government led by the African National Congress (ANC) has managed to create a stable and peaceful regime, and pursued a set of prudent economic policies while managing the transition to democracy. Link

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