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Registros recuperados: 35
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Growth Diagnostics and a Multisector Ramsey Model: The Case of Brazil AgEcon
Vinyes, Cristina; Roe, Terry L..
Disenchantment with the Washington Consensus has led to an emphasis on growth diagnostics. In the case of Brazil, the literature suggests three main factors impeding growth: low domestic savings, a shortage of skilled workers, and lack of investment in the country’s transportation infrastructure. The unique contribution of this study is to show the inter-temporal implications of relaxing these constraints. We fit a multi-sector Ramsey model to Brazilian data, validate its fit to times data, and provide empirical insights into the economy’s structural transformation to long-run equilibrium. Then, the sensitivity of these results to relaxing each of these three constraints is investigated in a manner that yields the same long-run level of well- being....
Tipo: Report Palavras-chave: Economic growth; Ramsey; Growth diagnostics; International Development; O11; O41; O54; D58.
Ano: 2010 URL: http://purl.umn.edu/56502
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Technology Change: Sources and Impediments AgEcon
Ranis, Gustav; Irons, Mallory; Huang, Yanjing.
There is little doubt that technology change, both in terms of its process and quality dimensions, represents the principal driving force to explain comparative economic performance at both micro and macro levels. This paper examines the sources of technology change and the impediments to the full realization of its opportunities, both abstractly and in the context of a comparison among six typologically diverse developing countries. Among the external sources, we examine the roles of trade, foreign patents and FDI; among the internal sources we examine the roles of investment, domestic R&D, domestic patents, S&T personnel and secondary education alternatives. Among impediments, we analyze certain public and private policy frameworks which tend...
Tipo: Working Paper Palavras-chave: Development; Technological Change; Research and Development/Tech Change/Emerging Technologies; O11; O14; O33.
Ano: 2011 URL: http://purl.umn.edu/118647
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Impact of the EU Milk Quota on Structural Change in the Dairy Sectors of Germany and The Netherlands AgEcon
Huettel, Silke; Jongeneel, Roelof A..
Tipo: Conference Paper or Presentation Palavras-chave: Markov Chain; Milk Quota Scheme; Structural Change; Agribusiness; Agricultural and Food Policy; O11; C11.
Ano: 2009 URL: http://purl.umn.edu/50943
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Spatial Development AgEcon
Desmet, Klaus; Rossi-Hansberg, Esteban.
We present a theory of spatial development. A continuum of locations in a geographic area choose each period how much to innovate (if at all) in manufacturing and services. Locations can trade subject to transport costs and technology diffuses spatially across locations. The result is an endogenous growth theory that can shed light on the link between the evolution of economic activity over time and space. We apply the model to study the evolution of the U.S. economy in the last few decades and find that the model can generate the reduction in the employment share in manufacturing, the increase in service productivity in the second part of the 1990s, the increase in land rents in the same period, as well as several other spatial and temporal patterns.
Tipo: Working or Discussion Paper Palavras-chave: Dynamic Spatial Models; Growth; Innovation; Land Rent Evolution; Structural Transformation; Technology Diffusion; Trade; Community/Rural/Urban Development; E32; O11; O18; O33; R12.
Ano: 2010 URL: http://purl.umn.edu/59852
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Arthur Lewis' Contribution to Development Thinking and Policy AgEcon
Ranis, Gustav.
Arthur Lewis’ seminal 1954 paper and its emphasis on dualism appeared at a time when neither the work of Keynes or Harrod-Domar nor the later neoclassical production function of Solow seemed relevant for developing countries. As a consequence, his model, rooted in the classical tradition, plus its many extensions, generated an extensive literature at the center of development theory. The approach also encountered increasingly strong criticism, some of the “red herring” variety, but some, spearheaded by neoclassical microeconomists like Rosenzweig, also raised serious challenges, focused especially on its labor market assumptions. This paper reviews this landscape and asks what theoretical or policy relevance the Lewis model retains for today’s developing...
Tipo: Working or Discussion Paper Palavras-chave: Development theory; Dualism; Labor markets; International Development; O11.
Ano: 2004 URL: http://purl.umn.edu/28410
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BAYES' ESTIMATES OF THE DOUBLE HURDLE MODEL IN THE PRESENCE OF FIXED COSTS AgEcon
Holloway, Garth J.; Barrett, Christopher B.; Ehui, Simeon K..
We present a model of market adoption (participation) where the presence of non-negligible fixed costs leads to non-zero censoring of the traditional double-hurdle regression. Fixed costs arise due to household resources that must be devoted a priori to the decision to participate in the market. These costs-usually a cost of time-motivate two-step decision-making and focus attentions on the minimum-efficient scale of operations (the minimum amount of milk sales) at which market entry becomes viable. This focus, in turn, motivates a non-zero-censored Tobit regression estimated through routine application of Markov chain Monte Carlo Methods.
Tipo: Working or Discussion Paper Palavras-chave: Market participation; Fixed costs; Double-hurdle model; Censored regression.; Financial Economics; O1; O11; C34; O13; Q16; D1.
Ano: 2002 URL: http://purl.umn.edu/14741
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SIGNIFICANCE OF GOVERNMENT INVESTMENT POLICY IN THE MODERN NEOCLASSICAL ECONOMIC THEORY AgEcon
Shatrevich, Vladimir.
The author conforms with inevitability to resolve the crisis conditioned problems on the basis of pure market self-regulation. However, it is believed that active and targeted investment policies of state could be implemented in market-friendly model. A number of state policy dimensions are described where through public finance and banking, organizational and institutional measures the state can restore and support market performance capacity, as well as to sustain growth developments.
Tipo: Journal Article Palavras-chave: Government investment policy; Investments; Neoclassical economics; Economic growth.; Public Economics; E22; O11.
Ano: 2009 URL: http://purl.umn.edu/94572
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Modelling the Fiscal Effects of Aid: An Impulse Response Approach for Ghana AgEcon
Morrissey, Oliver; Osei, Robert; Lloyd, Tim A..
An important feature of aid to developing countries is that it is given to the government. As a result aid has the potential to affect budgetary behaviour. Although the (albeit limited) aid-growth literature has addressed the effect of aid on policy, it has tended to neglect the effect of aid on the fiscal behaviour of governments. While fiscal response models have been developed to examine the effects of aid on fiscal aggregates - taxation, expenditure and borrowing - the underlying theory is ad hoc and empirical methods used are subject to severe limitations. This paper applies techniques developed in the "macroeconometrics" literature to estimate the dynamic structural relationship between aid and fiscal aggregates. Using vector autoregressive methods,...
Tipo: Working or Discussion Paper Palavras-chave: Aid; Fiscal Response; Ghana; International Development; International Relations/Trade; F35; O23; O11; O55.
Ano: 2002 URL: http://purl.umn.edu/26226
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Energy, Environment and the Sustainability of Economic Development in China AgEcon
Fang, Xingming; Hu, Xiaoping; Wang, H. Holly.
Whether the high economic growth of China is sustainable is the matter of interest to the public, government and academic circle of China and meanwhile it catches the attention of the world because the development of China has been exerting increasing impact on the world economy. Since the high economic growth of China has been promoted by heavy and chemical industry (HCI) to a great extent, which resulted in high consumption of energy resource, high consumption of mineral resources and high emission of pollutants (the “triple highness”), the sustainability of high economic growth of China depends on a sustainable growth road for China’s HCI and effective control on the “triple highness”. We find that the contributing factors of the “triple highness” are...
Tipo: Conference Paper or Presentation Palavras-chave: Economic growth; Energy; Resource; Pollution; International Development; Resource /Energy Economics and Policy; O10; O11.
Ano: 2008 URL: http://purl.umn.edu/6274
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Investments and Financial Flows Induced by Climate Mitigation Policies AgEcon
Bastianin, Andrea; Favero, Alice; Massetti, Emanuele.
In this paper we use the hybrid integrated model WITCH to quantify and analyze the investments and financial flows stimulated by a climate policy to stabilize Greenhouse Gases concentrations at 550ppm CO2-eq at the end of the century. We focus on investments to decarbonize the power sector and on investments in knowledge creation. We examine the financial flows associated with the carbon market and the implications for the international trade of oil. Criticalities in investment requirements will emerge when coal power plants with carbon capture and sequestration and nuclear power plants are deployed around 2020-2040, both in high and low income regions. Investments in energy related R&D increase sharply and might cause stress in the short term....
Tipo: Working or Discussion Paper Palavras-chave: Climate Change; Mitigation; Carbon Finance; Emission Trading; Energy Investments; Environmental Economics and Policy; Q01; Q43; Q54; O32; O11.
Ano: 2010 URL: http://purl.umn.edu/59418
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Texto Bàsico de Economia Agrícola: Su importancia para el Desarrollo Local Sostenible AgEcon
Zúniga-González, Carlos Alberto.
The present works is part of my doctoral dissertation for getting title of Doctor of Philosophy with major in Science and Specialization in the Economics of Agriculture and Local Development. The research hypothesis was: “If agricultural and forest activities apply agricultural economics, then it highlights the important element for sustainable local development, useful for the policy maker and decisions taker”. Therefore, the study makes emphasis in the importance for applying agricultural economics to the forest and agricultural activities. The agricultural economics basic text is an elemental document for the agricultural economics curricular component; it is a component for the agricultural and economic science careers. The academic...
Tipo: Book Palavras-chave: Agricultural Economics; Sustainable Local Development; Data Envelopment Analysis.; Agribusiness; Agricultural and Food Policy; Food Security and Poverty; Political Economy; Production Economics; Productivity Analysis; O11; O12; O38; P51; Q18.
Ano: 2011 URL: http://purl.umn.edu/111604
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Diversity of Communities and Economic Development: An Overview AgEcon
Ranis, Gustav.
This paper reviews the literature on the impact of ethnic diversity on economic development. Ethnically polarized societies are less likely to agree on the provision of public goods and more likely to engage in rent seeking activities providing lower levels of social capital. Initial conditions are important determinants of adverse development outcomes. The role of decentralization, democracy and markets as potential remedies are discussed. The paper then presents a number of preliminary hypotheses on the relationship between diversity and instability in order to stimulate future research.
Tipo: Working or Discussion Paper Palavras-chave: Africa; Diversity; Economic Growth; Instability; International Development; O11; O40; O43; O55.
Ano: 2009 URL: http://purl.umn.edu/54531
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Institutions and Development: A View from Below AgEcon
Pande, Rohini; Udry, Christopher R..
In this paper we argue the case for greater exploitation of synergies between research on specific institutions based on micro-data and the big questions posed by the institutions and growth literature. To date, the macroeconomic literature on institutions and growth has largely relied on cross-country regression evidence. This has provided compelling evidence for a causal link between a cluster of ‘good’ institutions and more rapid long run growth. However, an inability to disentangle the effects of specific institutional channels on growth or to understand the impact of institutional change on growth will limit further progress using a cross-country empirical strategy. We suggest two research programs based on micro-data that have significant potential....
Tipo: Working or Discussion Paper Palavras-chave: Institutions; Growth; Cross-country regressions; Institutional and Behavioral Economics; International Development; O11; O12; O17; P51.
Ano: 2005 URL: http://purl.umn.edu/28468
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Impeded Industrial Restructuring: The Growth Penalty AgEcon
Audretsch, David B.; Carree, M.A.; van Stel, A.J.; Thurik, A.R..
This paper documents that a process of industrial restructuring has been transforming the developed economies, where large corporations are accounting for less economic activity and small firms are accounting for a greater share of economic activity. Not all countries, however, are experiencing the same shift in their industrial structures. Very little is known about the cost of resisting this restructuring process. The goal of this paper is to identify whether there is a cost, measured in terms of forgone growth, of an impeded restructuring process. The cost is measured by linking growth rates of OECD countries to deviations from the optimal industrial structure. The empirical evidence suggests that countries impeding the restructuring process pay a...
Tipo: Working or Discussion Paper Palavras-chave: Industry structure; Firm size distribution; Entrepreneurship; Economic growth; Industrial Organization; O11; L11.
Ano: 2000 URL: http://purl.umn.edu/26254
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Tourism and Development: A Recent Phenomenon Built on Old (Institutional) Roots? AgEcon
Brau, Rinaldo; Di Liberto, Adriana; Pigliaru, Francesco.
Is tourism an opportunity for lagging countries in the elusive quest for growth (Easterly, 2002)? Recent empirical evidence suggests that the answer is a cautious yes. Aggregate cross-country data show that tourism specialization is likely to be associated with higher per capita GDP growth rates than those observed in industrialized countries. However, this evidence ignores the importance of institutional quality and results are likely to be biased by omitted variable problems. In this paper we frame our starting question within the general debate about the importance of good/bad institutions as fundamental determinants of economic growth (Acemoglu et al., 2001) and ask whether previous positive results of tourism on growth are in fact driven by the...
Tipo: Working or Discussion Paper Palavras-chave: Economic Development; Tourism Specialization; Institutions; Community/Rural/Urban Development; O11; O50; O47; F43; L83.
Ano: 2010 URL: http://purl.umn.edu/59425
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Diversity of Communities and Economic Development: An Overview AgEcon
Ranis, Gustav.
This paper reviews the literature on the impact of ethnic diversity on economic development. Ethnically polarized societies are less likely to agree on the provision of public goods and more likely to engage in rent seeking activities providing lower levels of social capital. Initial conditions are important determinants of adverse development outcomes. The role of decentralization, democracy and markets as potential remedies are discussed. The paper then presents a number of preliminary hypotheses on the relationship between diversity and instability in order to stimulate future research.
Tipo: Working or Discussion Paper Palavras-chave: Africa; Diversity; Economic Growth; Instability; Institutional and Behavioral Economics; International Development; Political Economy; O11; O40; O43; O55.
Ano: 2011 URL: http://purl.umn.edu/115713
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Reconsiderando la metodología FAO sobre el cálculo del número de personas que pasan hambre en el mundo AgEcon
Morales-Opazo, Cristian; Barreiro-Hurlé, Jesús.
FAO measure of undernourishment is calculated based on three main parameters: dietary energy supply (DES), minimum dietary energy requirement (MDER), and the coefficient of variation of dietary energy consumption (CV). In the current implementation of this methodology, the DES and the MDER change over time, as would be expected. The CV, however, remains constant. However, we expect the CV to change over time and be a function of income and prices. This paper discusses why the CV should change in response to changes in these variables, and suggests a practical way to estimate changes in the CV over time in the absence of survey data.
Tipo: Article Palavras-chave: Income; Prices; Consumption; Undernourishment; Food Consumption/Nutrition/Food Safety; Food Security and Poverty; E21; O11; O19.
Ano: 2011 URL: http://purl.umn.edu/120198
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Local Communities in front of Big External Investors: An Opportunity or a Risk? AgEcon
Antoci, Angelo; Russu, Paolo; Ticci, Elisa.
In the current age of trade and financial openness, local economies in developing countries are becoming increasingly exposed to external investments. The objective of the proposed two-sector model with environmental externalities is to provide an insight into the interaction between external investors and local communities with a focus upon the different strategies and income sources available to each category. In this context, analysis suggests that environmental regulations and incentives offered in order to attract external capital investment (whether foreign or national) may have an un-uniform impact on the two typologies of actors.
Tipo: Working or Discussion Paper Palavras-chave: Foreign Direct Investments; Environmental Negative Externalities; Structural Changes; Poverty Alleviation; International Development; F21; F43; D62; O11; O13; O15; O41; Q20.
Ano: 2010 URL: http://purl.umn.edu/98093
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Cultural Diversity and Economic Performance: Evidence from European Regions AgEcon
Bellini, Elena; Ottaviano, Gianmarco I.P.; Pinelli, Dino; Prarolo, Giovanni.
We investigate the relationship between diversity and productivity in Europe using an original dataset covering the NUTS 3 regions of 12 countries of the EU15 (Austria, Belgium, Denmark, France, former Western Germany, Ireland, Italy, the Netherlands, Portugal, Spain, Sweden and the United Kingdom). In so doing, we follow the empirical methodology developed by Ottaviano and Peri (2006a) in the case of US cities. The main idea is that, as cultural diversity may affect both production and consumption through positive or negative externalities, the joint estimation of price and income equations is needed to identify the dominant effect. Based on this methodology, we find that diversity is positively correlated with productivity. Moreover, we find evidence...
Tipo: Working or Discussion Paper Palavras-chave: Cultural Diversity; Economic Performance; Productivity; Europe; Community/Rural/Urban Development; O5; O11; O57; R5; R58.
Ano: 2009 URL: http://purl.umn.edu/54171
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Structural Change, Environment and Well-being: Interactions Between Production and Consumption Choices of the Rich and the Poor in Developing Countries AgEcon
Antoci, Angelo; Russu, Paolo; Ticci, Elisa.
Replaced with revised version of paper 01/16/09.
Tipo: Working or Discussion Paper Palavras-chave: Production; Consumption Choices; Welfare; D62; O11; O13; O15; O41; Q20.
Ano: 2008 URL: http://purl.umn.edu/37671
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