Found 128 article(s) for author 'Ricardo Hausmann'

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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The Structure of the Product Space and the Evolution of Comparative Advantage

The Structure of the Product Space and the Evolution of Comparative Advantage, Ricardo Hausmann, April 2007, Paper, This paper establishes a robust stylized fact: changes in the revealed comparative advantage of nations are governed by the pattern of relatedness of products at the global level. As countries change their export mix, there is a strong tendency to move towards related goods rather than to goods that are farther away. The pattern of relatedness of products is only very partially explained by similarity in broad factor or technological intensities, suggesting that the relevant determinants are much more product-specific. Moreover, the pattern of relatedness of products exhibits very strong heterogeneity: there are parts of this ‘product space’ that are dense while others are sparse. Link

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The Product Space and its Consequences for Economic Growth

The Product Space and its Consequences for Economic Growth. Ricardo Hausmann, March 5, 2007, Paper. “In this paper, we test the assumption underlying the foundational models of trade that there always exist products through which countries can express their endowments and technology. We map the `space’ of products in the world, and find it to be quite heterogeneous, with a central core and outer periphery. Moreover, we show that the way countries develop comparative advantage is far from random, and that the empirical rules observed herein predict, together with the structure of the product space, explain…” Link

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The Global Gender Gap Report 2007

The Global Gender Gap Report 2007. Ricardo Hausmann, 2007, Paper. “At the World Economic Forum we recognize that the advancement of women is an important economic, business and societal issue with a significant impact on the growth of nations. Thus, for several years, we have explicitly incorporated aspects of gender equality into our measures of competitiveness and fostered dialogue within our Women Leaders Programme…” Link

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Strategic Trade in Pollution Permits

Strategic Trade in Pollution Permits. Ricardo Hausmann, 2007, Paper. “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 mismeasurement of FDI, unreported trade of insurance or liquidity services, and debt relief may also play a role. We analyse the relevant evidence in a large set of countries and periods, and examine measures of net foreign assets obtained by capitalizing the net investment income and then estimating the current account from the changes in this stock of foreign assets. We call dark matter the difference between our measure of net foreign assets and that measured by official statistics. We find it to be important for many countries, analyse its relationship with theoretically relevant factors, and note that the resulting perspective tends to make global net asset positions appear relatively stable.Link

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Why the US Current Account Deficit is Sustainable

Why the US Current Account Deficit is Sustainable. Ricardo Hausmann, May 27, 2006, Paper. “Over the last couple of years, the burgeoning of the US current account deficit, reaching $792 billion in 2005 alone, has led to significant concerns about the future of the United States and the possibility of a major global crisis. With a brief respite in 1991, it comes after twenty-four years of unbroken deficits, which have totalled over $5.2 trillion. According to some doomsayers, once the massive financing required to continue paying for such a widening gap dries up…” May require purchase or user account. Link

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