Author: Andrew B. BernardPublisher:
ISBN:
Category :
Languages : es
Pages : 29
Book Description
Convergence of international output movements
Author: Andrew B. BernardConvergence of International Output Movements
Author: Andrew B. BernardPublisher:
ISBN:
Category : Economic development
Languages : en
Pages : 64
Book Description
This paper explores the convergence of real per capita output in advanced industrialized economies. We start by observing that in a stochastic environment. convergence in per capita GDP requires that permanent shocks to one econ~ be associated with permanent shocks to other economies. Convergence is a natural outcome, of models where exogenous technical change migrates across countries with similar microeconomic specifications. Conversely, in a world where some component of permanent output movements is due to technical change whereas other components are due to domestic factors. national economies may diverge over time. we formalize a general definition of convergence using the notions of unit roots and cointegration developed in the time series literature. We construct bivariate and multivariate tests of convergence across advanced industrialized economies. Our evidence indicates that one cannot reject the no convergence null. Further. the estimated time series representation of cross-country output deviations exhibits substantial persistence. These results suggest that previous empirical work on convergence has neglected some aspects of the null hypothesis.
Three Essays on Convergence and Cointegration of International Output Movements
Author: Qing LiPublisher:
ISBN:
Category : Convergence (Economics)
Languages : en
Pages : 158
Book Description
Co-movements and Convergence in International Output
Author: Barbara PistoresiThe Great Convergence
Author: Richard BaldwinPublisher: Harvard University Press
ISBN: 067466048X
Category : Business & Economics
Languages : en
Pages : 340
Book Description
An Economist Best Book of the Year A Financial Times Best Economics Book of the Year A Fast Company “7 Books Microsoft CEO Satya Nadella Says You Need to Lead Smarter” Between 1820 and 1990, the share of world income going to today’s wealthy nations soared from twenty percent to almost seventy. Since then, that share has plummeted to where it was in 1900. As the renowned economist Richard Baldwin reveals, this reversal of fortune reflects a new age of globalization that is drastically different from the old. The nature of globalization has changed, but our thinking about it has not. Baldwin argues that the New Globalization is driven by knowledge crossing borders, not just goods. That is why its impact is more sudden, more individual, more unpredictable, and more uncontrollable than before—which presents developed nations with unprecedented challenges as they struggle to maintain reliable growth and social cohesion. It is the driving force behind what Baldwin calls “The Great Convergence,” as Asian economies catch up with the West. “In this brilliant book, Baldwin has succeeded in saying something both new and true about globalization.” —Martin Wolf, Financial Times “A very powerful description of the newest phase of globalization.” —Larry Summers, former U.S. Secretary of the Treasury “An essential book for understanding how modern trade works via global supply chains. An antidote to the protectionist nonsense being peddled by some politicians today.” —The Economist “[An] indispensable guide to understanding how globalization has got us here and where it is likely to take us next.” —Alan Beattie, Financial Times
Intranational Macroeconomics
Author: Gregory D. HessPublisher: Cambridge University Press
ISBN: 9780521661638
Category : Business & Economics
Languages : en
Pages : 342
Book Description
This book brings the intranational macroeconomics literature into clearer focus by collecting the strands of research into a common thread.
EU Crisis and the Role of the Periphery
Author: Anastasios KarasavvoglouPublisher: Springer
ISBN: 3319101331
Category : Business & Economics
Languages : en
Pages : 218
Book Description
The European economy is still in recession, even though there are some weak indications of stabilization. This book examines important aspects of the crisis in selected countries of Southern Europe, the Balkans and Eastern Europe. The intensity of the crisis and its economic and social repercussions have varied from country to country, generally impacting the core countries less than those on the periphery. The countries in the latter group currently face significant structural challenges with regard to improving productivity and competitiveness, including the areas of investment, climate, the labour market, and the public sector. The book not only illustrates the scope of the problem, but also informs readers on the policies implemented to address it, and discusses the progress some of the economies have already made. Special topics include the convergence hypothesis, agriculture and growth, Public-Private Partnership in Infrastructure (PPPI), and the labour market.
LINK Proceedings, 1991, 1992
Author: Bert G. HickmanPublisher: World Scientific
ISBN: 9789810232344
Category : Business & Economics
Languages : en
Pages : 372
Book Description
This book covers two years of research activities associated with Project LINK, which is based on a model of the world economy, covering 79 countries or regional groupings of countries. Papers dealing with interesting thematic issues were carefully selected and expanded into full articles. The subjects studied by various LINK participants for reporting at annual meetings include exchange rate systems, international investment, environmental protection, international economic institutions, LINK system improvements, and international economic policy. As always, there are contributions dealing with methodological advances for world modeling.
The Political Economy of Globalization
Author: Satya Dev GuptaPublisher: Springer Science & Business Media
ISBN: 1461561698
Category : Political Science
Languages : en
Pages : 349
Book Description
Globalization is transforming the world at an accelerated pace. Integration of the world continues, widening and intensifying international linkages in economic, political and social relations. Liberalization of trade and fmance, lubricated by revolutionary changes in information technology, has resulted in significant economic growth at the global level. On the other hand, the process of globalization is changing the nature of production relations, threatening the traditional roles of the nation-state, and carrying with it far-reaching implications for sustainable growth, development and the environment. Although both developed and developing countries are actively participating in this saga of globalization, nearly ninety countries, as the United Nations' Human Development Report, 1996 indicates, are worse off economically than they were ten years ago, leading to "global polarization" between haves and have nots. The report further indicates that the gap between the per capita incomes of the industrialized world and the developing countries, far from narrowing, has more than tripled during the last thirty years. Further, a majority of the countries benefitting from this globalization drive have seen a rise in inequality and poverty. This failure of market driven globalization to reward the benefits equitably led the United Nations to proclaim 1996 as the International Year for the Eradication of Poverty (IYEP) and the decade of 1997-2006 as the international decade for the eradication of poverty, and to promote "people-centered sustainable development".
2009 Purchasing Power Parity Update for Selected Economies in Asia and the Pacific
Author: Asian Development BankPublisher: Asian Development Bank
ISBN: 9290928611
Category : Business & Economics
Languages : en
Pages : 250
Book Description
This report presents the research initiative to explore an alternative methodology for extrapolating purchasing power parities (PPPs) for 21 participating economies in the Asia and Pacific region. The 2009 PPP Update provides an intermediate benchmark and more firmly based real expenditures and price level indexes for 2009 than would have been possible using the conventional extrapolation technique. The results include PPP-based gross domestic product and its major aggregates of actual final consumption; collective consumption expenditure by general government; gross fixed capital formation; changes in inventories and net acquisitions of valuables; and, balance of exports and imports.