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on Financial Development and Growth |
By: | World Bank |
Keywords: | Macroeconomics and Economic Growth - Economic Growth Banks and Banking Reform Economic Theory and Research Poverty Reduction - Achieving Shared Growth Governance - Governance Indicators Finance and Financial Sector Development |
Date: | 2012–02 |
URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:12609&r=fdg |
By: | World Bank |
Keywords: | Poverty Reduction - Achieving Shared Growth Macroeconomics and Economic Growth - Economic Theory & Research Private Sector Development - Emerging Markets Finance and Financial Sector Development - Debt Markets Macroeconomics and Economic Growth - Economic Growth |
Date: | 2012–06 |
URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:12121&r=fdg |
By: | World Bank |
Keywords: | Poverty Reduction - Rural Poverty Reduction Economic Theory and Research Macroeconomics and Economic Growth - Regional Economic Development Poverty Reduction - Achieving Shared Growth |
Date: | 2012–02 |
URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:12655&r=fdg |
By: | World Bank |
Keywords: | Finance and Financial Sector Development - Debt Markets Finance and Financial Sector Development - Banks & Banking Reform Private Sector Development - Emerging Markets Finance and Financial Sector Development - Currencies and Exchange Rates Macroeconomics and Economic Growth - Economic Theory & Research |
Date: | 2012–01 |
URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:2727&r=fdg |
By: | World Bank |
Keywords: | Social Protections and Labor - Labor Policies Banks and Banking Reform Finance and Financial Sector Development - Debt Markets Economic Theory and Research Environmental Economics and Policies Macroeconomics and Economic Growth Environment |
Date: | 2012–04 |
URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:12663&r=fdg |
By: | Boucekkine, Raouf |
Abstract: | A simple open-economy AK model with collateral constraints accounts for growth breaks and growth-reversal episodes, during which countries face abrupt changes in their growth rate that may lead to either growth miracles or growth disasters. Absent commitment to investment by the borrowing country, imperfect contract enforcement leads to an informational lag such that the debt contracted upon today depends upon the past stock of capital. The no-commitment delay originates a history effect by which the richer a country has been in the past, the more it can borrow today. For (arbitrarily) small delays, the history effect offsets the growth benefits from international borrowing and dampens growth, and it leads to both leapfrogging in long-run levels and growth breaks. When large enough, the history effect originates growth reversals and we connect the latter to leapfrogging. Finally, we argue that the model accords with the reported evidence on changes in the growth rate at break dates. We also provide examples showing that leapfrogging and growth reversals may coexist, so that currently poor but fast-growing countries experiencing sharp growth reversals may end up, in the long-run, significantly richer than currently rich but declining countries. |
Date: | 2012 |
URL: | http://d.repec.org/n?u=RePEc:ner:louvai:info:hdl:2078.1/118044&r=fdg |
By: | Otaviano Canuto; Matheus Cavallari |
Keywords: | Macroeconomics and Economic Growth - Investment and Investment Climate Macroeconomics and Economic Growth - Economic Conditions and Volatility Banks and Banking Reform Economic Theory and Research Private Sector Development - Emerging Markets Finance and Financial Sector Development |
Date: | 2012–05 |
URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:10042&r=fdg |
By: | World Bank |
Keywords: | Public Sector Economics Public Sector Management and Reform Macroeconomics and Economic Growth - Subnational Economic Development Public Sector Expenditure Policy Finance and Financial Sector Development - Debt Markets Public Sector Development |
Date: | 2012–06 |
URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:13253&r=fdg |
By: | World Bank |
Keywords: | Public Sector Economics Macroeconomics and Economic Growth - Subnational Economic Development Public Sector Expenditure Policy Finance and Financial Sector Development - Debt Markets Banks & Banking Reform Public Sector Development |
Date: | 2012–07 |
URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:11898&r=fdg |