Всего статей в данном разделе : 295
Опубликовано на портале: 15-07-2004Gregory N. Mankiw, David Romer, David N. Weil Quarterly Journal of Economics. 1992. Vol. 107. No. 2. P. 407-437.
This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data. The paper also examines the implications of the Solow model for convergence in standards of living, that is, for whether poor countries tend to grow faster than rich countries. The evidence indicates that, holding population growth and capital accumulation constant, countries converge at about the rate the augmented Solow model predicts.
Опубликовано на портале: 03-12-2007Michael Grimm, Kenneth Harttgen, Stephan Klasen, Mark Misselhorn University of G¨ottingen, Department of Economics: Research Paper. 2007.
One of the most frequent critiques of the HDI is that is does not take into account inequality within countries. We suggest a relatively easy and intuitive approach which allows to compute the three components and the overall HDI for quintiles of the income distribution. This allows comparisons of the level in human development of the poor and non-poor within and across countries. An empirical illustration shows large discrepancies in human development within countries especially in Africa. These discrepancies are lower the higher the HDI, but only weekly so. Inequality in income is generally higher than inequality in education and life-expectancy.
Опубликовано на портале: 14-07-2005Ross Levine, David Renelt American Economic Review. 1992. Vol. 82. No. 4. P. 942-963.
A vast literature uses cross-country regressions to search for empirical linkages between long-run growth rates and a variety of economic policy, political, and institutional indicators. This paper examines whether the conclusions from existing studies are robust or fragile to small changes in the conditioning information set. The authors find that almost all results are fragile. They do, however, identify a positive, robust correlation between growth and the share of investment in GDP and between the investment share and the ratio of international trade to GDP. The authors clarify the conditions under which there is evidence of per capita output convergence.
Опубликовано на портале: 29-10-2007Pim Martens Sustainability: Science, Practice and Policy. 2006. Vol. 2(1). P. 36-41.
It is clear that in making the concept of sustainable development concrete, one has to take into account a number of practical elements and obstacles. There is little doubt that integrated approaches are required to support sustainable development. Therefore, a new research paradigm is needed that is better able to reflect the complexity and the multidimensional character of sustainable development. The new paradigm, referred to as sustainability science, must be able to encompass different magnitudes of scales (of time, space, and function), multiple balances (dynamics), multiple actors (interests) and multiple failures (systemic faults). I also think that sustainability science has to play a major role in the integration of different styles of knowledge creation in order to bridge the gulf between science, practice, and politics—which is central to successfully moving the new paradigm forward.
Опубликовано на портале: 14-07-2005Howard Pack Journal of Economic Perspectives. 1994. No. 8. P. 55-72.
This paper examines whether the recent theoretical insights stemming from endogenous growth theory have provided a better guide to explaining actual growth experience than the neoclassical model. The paper considers the available empirical evidence on a number of related subjects, including the slowing of growth in the OECD countries over the last two decades; the acceleration of growth in several Asian countries since the early 1960s; studies of the determinants of growth in a cross-country context; and sources of the differences in international productivity levels. It concludes that the empirical confirmation, so far, of endogenous growth theory is limited.
Опубликовано на портале: 15-11-2004Peter L. Rousseau, Richard Sylla NBER Working Paper Series. 2001. w8323.
This paper brings together two strands of the economic literature -- that on the finance-growth nexus and that on capital market integration -- and explores key issues surrounding each strand through both institutional/country histories and formal quantitative analysis. We begin with studies of the Dutch Republic, England, the U.S., France, Germany and Japan that span three centuries, detailing how in each case the emergence of a financial system jump-started economic growth. Using a cross-country panel of seventeen countries covering the 1850-1997 period, we then uncover a robust correlation between financial factors and economic growth that is consistent with a leading role for finance, and show that these effects were strongest over the 80 years preceding the Great Depression. Next, we show that countries with more sophisticated financial systems engage in more trade and appear to be better integrated with other economies by identifying roles for both finance and trade in the convergence of interest rates that occurred among the Atlantic economies prior to 1914. Our results suggest that the growth and increasing globalization of these economies might indeed have been 'finance-led.'
Опубликовано на портале: 24-12-2007Michael Grimm, Stephan Klasen Proceedings of the German Development Economics Conference, Güttingen 2007. 2007. No. 9.
There is well-known debate about the respective role of geography versus institutions in explaining the long term development of countries. These debates have usually been based on cross country regressions where questions about parameter heterogeneity, unobserved heterogeneity, and endogeneity cannot easily be controlled for. The innovation of Acemoglu, Johnson and Robinson (2001) was to address this last point by using settler morality as an instrument for endegenous institutions and found that this supported their line of reasoning. We believe there is value-added to consider this debate at the micro level within a country as particularly questions of parameter heterogeneity and unobserved heterogeneity are likely to be smaller than between countries. Hence, we examine the determinants of agricultural growth across villages on the Indonesian Island of Sulawesi and find technology adoption to play a crucial role. We show that geography through its effects on migration and institutions is a valid instrument to establish the causal links between institutions and technology adoption as well as technology and agricultural growth.
Опубликовано на портале: 31-12-2010Pekka Sutela Экономический журнал ВШЭ. 2002. Т. 6. № 3. С. 315-323.
An earlier version of this paper was presented at the Higher School of Economics (together with the World Bank and the Bureau of Economic Analysis) conference in Moscow, 3-4 April 2002. Most recent discussion on resource-based development has been in terms of a burden of resource abundance (Auty, 2001). Though the measurement of resource abundance is not self-evident at all, there is indeed much empirical evidence that resource-rich countries tend to perform badly both in terms of welfare levels and economic growth. Externally, resource abundance tends to contribute to high inequality. The society at large therefore tends to equate trade with the interests of the rich. There is therefore much ground for populism and – more recently – to antiglobalism as a variant thereof. There is also a tendency towards the Dutch Disease, where large revenue and perhaps investment flows lead to a real exchange rate which is detrimentally high for the competitiveness of the non-resource based part of the economy. A skewed production and export structure tends to associate with volatile export prices, contributing to economic and policy instability.
I Just Ran Two Million Regressions [статья]
Опубликовано на портале: 14-07-2005Xavier Sala-i-Martin American Economic Review. 1997. Vol. 87. No. 2. P. 178-183.
In this paper I try to move away from the Extreme Bounds method of identifying "robust" empirical relations in the economic growth literature. Instead of analyzing the extreme bounds of the estimates of the coefficient of a particular variable, I analyze the entire distribution. My claim in this paper is that, if we do this, the picture emerging from the empirical growth literature is not the pessimistic "Nothing is Robust" that we get with the extreme bound analysis. Instead, we find that a substantial number of variables can be found to be strongly related to growth.
Опубликовано на портале: 27-10-2004Basil M. H. Sharp Treasury Working Papers. 2002. No. 02/20.
Economic theory provides a coherent framework for analysing the elements of growth and sustainable development. Robust policies and appropriate institutional structures are essential to achieving sustainable development. Environmental problems are rooted in failed markets and their resolution requires government taking some kind of action to establish property rights, set standards of liability, apply polluter pays taxes, or regulate. There is ample evidence showing that market based instruments can achieve the same environmental outcome at considerably less cost relative to command and control. Rational policy must seriously consider the use of market-based instruments. A framework for considering the quality of institutional structures vis-à-vis achieving sustainable development is presented. The framework is applied to aspects of the Resource Management Act 1991. Although the Act aims to promote sustainable management it is the primary legal foundation for sustainable development policy. One result of the Act was to devolve a great deal of environmental management and policy to local government. To a limited extent the Act is permissive and creates opportunities for local and regional government to find effective and efficient ways of achieving environmental outcomes that suit their communities. There is a clear preference for command and control in situations where statute provides a legal framework for market based instruments. But the options for using market-based instruments are limited. There are instances where attempts by regional administrators to implement market-based instruments are thwarted either by statute or by coordination difficulties at higher levels of government. Barriers to using market-based instruments are identified along with suggestions for institutional reform.
Опубликовано на портале: 31-12-2010Оксана Бабецкая-Кухарчук Экономический журнал ВШЭ. 2005. Т. 9. № 4. С. 505-542.
The present paper proposes a critical survey of literature about the approximation of institutional variables in empirical studies on economic growth, trade and investment. We also discuss econometric problems linked to institutional variables and propose a brief review of existing databases for institutional approximation.
Опубликовано на портале: 12-11-2004Александр Иванович Неклесса Экономическая наука современной России. 1999. № 1. С. 71-89.
Цивилизация Нового времени пребывает в состоянии системного кризиса и противоборства трех исторических тенденций: модернизации, постмодернизации и демодернизации. Прежние формы экономической деятельности, понимаемой как последовательные, конструктивные усилия по обустройству материальной сферы бытия, размываются стремительно растущим значением кредитно-денежных операций, фактически оторванных от производственной деятельности и товарных потоков, создавая крайне неравновесную ситуацию в глобальном масштабе. Геоэкономика преобразует прежнюю национально-государственную схему мироустройства в новый, геоэкономический континуум, основывающийся на иерархии различных видов экономической практики в рамках мирового разделения труда (финансово-правовое регулирование, производство интеллектуальных ресурсов, высокотехнологичное производство и т.п.)
Опубликовано на портале: 03-12-2007Lev Ratnovski, Aditya Narain IMF ,Working Paper. 2007. No. 07/227.
While public financial institutions (such as public development banks) are commonly associated with developing countries, in fact they are prevalent in the developed world as well. We study a sample of public financial institutions in industrialized countries and identify dominant trends in their organization and oversight. While practices in developed countries may be a useful reference point, a more nuanced approach, accounting for the disparity of institutional environment, regulatory capacity, and government accountability and effectiveness, may be required in developing countries. Further investment in the accumulation of evidence and formulation of best practices in the organization and oversight of public financial institutions seems warranted and necessary. This paper was prepared while Mr. Ratnovski was working in the Financial Supervision and Regulation Division during January-April 2006. The authors are grateful to Jonathan Fiechter, David Marston, and participants of an MCM seminar in April 2006 for their helpful comments.
Опубликовано на портале: 12-11-2004Joseph E. Stiglitz Экономическая наука современной России. 2001. № 4. С. 108-146.
Отсутствие в обществе необходимых финансовых и правовых структур, делающих приватизацию эффективной, рассматривается в статье как один из основных факторов, объясняющих неудовлетворительное состояние экономики России в ходе строительства рыночных отношений. Второй важный фактор, как показывается в работе, связан с неадекватной теоретической концепцией фирмы, на которой базировалась идеология реформ, — представлением о фирме как полноправной собственности крупных акционеров при слабом влиянии на деятельность фирмы остальных заинтересованных лиц.
Опубликовано на портале: 31-12-2010Paul J Welfens Экономический журнал ВШЭ. 2000. Т. 4. № 2. С. 220-234.
We analyze the potential ingredients for sustained economic growth in Russia. Taking into account experiences in NICs and recent research we suggest that there is a lexicographical order of policy elements for achieving economic growth. Achieving growth mainly requires to establish a functional capital market, to encourage structural change, to nurture entrepreneurship and to stimulate trade expansion in the field of manufacturing products, while imposing some capital controls on short term inflows. Adequate foreign direct investment policies also are crucial which must include political stability and radical tax reform. We propose several strategic elements for growth policy, where adequate external support could be helpful.