Found 1617 article(s) in category 'Q1: Economic Growth'

Private Equity: A Casebook

Private Equity: A Casebook. Paul Gompers, Victoria Ivashina, Richard Ruback, 2019, Book, “’Private Equity’ is an advanced applied corporate finance book with a mixture of chapters devoted to exploring a range of topics from a private equity investor’s perspective. The goal is to understand why and which practices are likely to deliver sustained profitability in the future. The book is a collection of cases based on actual investment decisions at different stages for process tackled by experienced industry professionals. The majority of the chapters deal with growth equity and buyout investments. However, a range of size targets and investments in different geographical markets are covered as well. These markets include several developed economies and emerging markets like China, Russia, Turkey, Egypt and Argentina. This compilation of cases is rich in institutional details, information about different markets, and segments of the industry as well as different players and their investment practices – it is a unique insight into the key alternative asset class.Link

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The Case for a Bold Economics

The Case for a Bold Economics. Dani Rodrik, March 11, 2019, Opinion, “Although economists are well positioned to imagine new institutional arrangements, their habit of thinking at the margin and sticking close to the evidence at hand encourages an aversion to radical change. But, when presented with new challenges, economists must envision new solutions – as a new group is determined to do.Link

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Chinese slowdown impact: Here’s what experts have to say

Chinese slowdown impact: Here’s what experts have to say. Kenneth Rogoff, March 8, 2019, Video, “The Chinese Premier Li Keqiang, China’s second most powerful man, next to Xi Jinping, this week warned his country’s highest lawmaking body that the country will face a more complicated environment and grave risks and challenges. Addressing the National People’s Congress, he set the country’s economic growth at 6 to 6.5 percent this year, just a shade lower than the 6.6 percent it achieved in 2018. He also promised lower taxes and fewer burdens on the private sector. So, should the world read this warning as an indication of deeper troubles for the Chinese economy or should one be confident that China can deliver a 6 percent plus growth this year? And what does a slightly slowing China mean to the world economy?Link

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On falling neutral real rates, fiscal policy, and the risk of secular stagnation

On falling neutral real rates, fiscal policy, and the risk of secular stagnation. Lawrence Summers, March 7, 2019, Paper, “This paper demonstrates that neutral real interest rates would have declined by far more than what has been observed in the industrial world and would in all likelihood be significantly negative but for offsetting fiscal policies over the last generation. We start by arguing that neutral real interest rates are best estimated for the block of all industrial economies given capital mobility between them and relatively limited fluctuations in their collective current account. We show, using standard econometric procedures and looking at direct market indicators of prospective real rates, that neutral real interest rates have declined by at least 300 basis points over the last generation. We argue that these secular movements are in larger part a reflection of changes in saving and investment propensities rather than the safety and liquidity properties of Treasury instruments.Link

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The left’s embrace of modern monetary theory is a recipe for disaster

The left’s embrace of modern monetary theory is a recipe for disaster. Lawrence Summers, March 4, 2019, Opinion, “We’ve seen this movie before. There is widespread frustration with the performance of the economy. Traditional policy approaches are not delivering hoped-for results. A relatively unpopular president is loathed to an unusual extent by a frustrated opposition party that lost the previous presidential election while running a pillar of its establishment. And altered economic conditions have led to the development of new economic ideas that reflect a significant break with previous orthodoxy.Link

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Unequal Europe: Regional Integration and the Rise of European Inequality

Unequal Europe: Regional Integration and the Rise of European Inequality. Jason Beckfield, 2019, Book, “Argues that European integration causes the convergence and retrenchment of European welfare states. Shows that regional integration has important effects on European welfare states and income inequality in Europe over and above those of globalization. Develops the concept of “technocratic capitalism” as an interpretation of a predominant form of capitalism in the EU over the last thirty years.Link

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Conducting Benefit-Cost Analysis in Low- and Middle-Income Countries: Introduction to the Special Issue

Conducting Benefit-Cost Analysis in Low- and Middle-Income Countries: Introduction to the Special Issue. Lisa Robinson, James Hammitt, 2019, Paper, “Investing in global health and development requires making difficult choices about what policies to pursue and what level of resources to devote to different initiatives. Methods of economic evaluation are well established and widely used to quantify and compare the impacts of alternative investments. However, if not well conducted and clearly reported, these evaluations can lead to erroneous conclusions. Differences in analytic methods and assumptions can obscure important differences in impacts. To increase the comparability of these evaluations, improve their quality, and expand their use, this special issue includes a series of papers developed to support reference case guidance for benefit-cost analysis.Link

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Jordan: The Elements of a Growth Strategy

Jordan: The Elements of a Growth Strategy. Ricardo Hausmann, Tim O’Brien, Miguel Angel Santos,  2019, Paper, “In the decade prior to the global financial crisis of 2008-2009, Jordan enjoyed a period of impressive macroeconomic performance. The prolonged expansion was export-led, with total exports of goods and services tripling over that period. The boom was not only due to better prices for Jordan’s exports, as there were also significant gains in global market share of Jordan’s garment, agriculture and chemical exports. Throughout these years, the country ran large current account deficits that were largely financed by massive inflows of foreign direct investment (FDI) coming from the United Arab Emirates, United States, India, Bahrain and Saudi Arabia. By 2009, the size of total public debt was moderate, at 55% of the size of the economy. The Global Financial Crisis of 2008-2009 and a series of subsequent negative external shocks affected Jordan in significant ways, throwing its economy out of balance. Conflict in neighboring countries led to reduced demand from key export markets and cut off important trade routes. FDI, which averaged 12.7% of gross domestic product (GDP) over the period 2003-2009, fell to 5.1% of GDP over the period of 2010-2017. At the same time, they brought a massive wave of migrants and refugees, resulting in a net population increase of 50.4% between 2008 and 2017.Link

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China’s economy shows signs of slowdown, Harvard economist says

China’s economy shows signs of slowdown, Harvard economist says. Kenneth Rogoff, February 25, 2019, Video, “The U.S. economy is doing “pretty well” right now, but Harvard University Economics Professor Kenneth Rogoff says the rest of the world, especially China, has problems. “There’s a slow patch in the global economy — I think China’s more than a slow patch,” he said during an interview on FOX Business’ “Mornings with Maria” on Monday. “It may have a soft landing, but it will be onto a downward slope. Centralizing power doesn’t work in trying to have a productive economy.”Link

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