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This paper provides empirical evidence for the importance of institutions in determining the outcome of crises on long-term growth. Once unobserved country-specific effects and other sources of endogeneity are accounted for, political institutions affect growth through their interaction with crises. The results suggest that only countries with strong democracies, high levels of political competition and external constraints on government can potentially benefit from crises and use them as opportunities to enhance long-term output per capita and productivity growth.
This paper analyzes the long-run relationship between output collapses—defined defined as GDP falling substantially below trend—and total factor productivity (TFP), using a panel of 71 developed and developing countries during the period 1960-2003 to identify episodes of output collapse and estimate counterfactual post-collapse TFP trends. Collapses are concentrated in developing countries, especi ... (View publication)
This study is a first contribution to prioritization across productivity determinant capabilities that attempts to obtain the equivalent of a “shadow price” for each of these capabilities by estimating their impact on the success a country may have in reaching higher income per capita groups. The prioritization of these determinants—spanning different sectors—seems to be specific to the income ... (View publication)
The Priorities for Productivity and Income(PPIs) database provides indicators used in estimations covering the period 2000-2012 (in their original version and their normalized version), as well as a richer set of more than 80 indicators across different sectors affecting productivity. Most of the historical data are available at an annual frequency for the period 2000-2012, covering 26 LAC and 32 ... (View publication)
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