What Makes Growth Sustained? / Jonathan Ostry, Andrew Berg, Jeromin Zettelmeyer.

Format:

Book

Government document

Author/Creator:

Ostry, Jonathan.

Contributor:

Berg, Andrew.

Zettelmeyer, Jeromin.

International Monetary Fund. Research Department.

Series:

IMF Working Papers; Working Paper ; No. 2008/059

IMF Working Papers

Language:

English

Subjects (All):

Economic development--Econometric models.

Economic development.

Physical Description:

1 online resource (35 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2008.

Language Note:

English

Summary:

We identify structural breaks in economic growth in 140 countries and use these to define "growth spells:" periods of high growth preceded by an upbreak and ending either with a downbreak or with the end of the sample. Growth spells tend to be shorter in African and Latin American countries than elsewhere. We find that growth duration is positively related to: the degree of equality of the income distribution; democratic institutions; export orientation (with higher propensities to export manufactures, greater openness to FDI, and avoidance of exchange rate overvaluation favorable for duration); and macroeconomic stability (with even moderate instability curtailing growth duration).

Contents:

Contents; I. Introduction; II. Structural Breaks and "Growth Spells"; A. Identifying Structural Breaks in Economic Growth; Tables; 1. Growth Breaks by Decade and Region; Figure; Frequency of Upbreaks and Downbreaks, by Region; B. From Structural Breaks to Growth Spells; 2. Frequency and Duration of Growth Spells; III. Analyzing the Duration of Growth Spells; 3. Average Growth Before, During and After Growth Spells; A. Empirical Strategy; B. Regression Methodology; C. Results; 4. Duration Regressions: External Shocks; 5. Duration Regressions: Institutions

6. Duration Regressions: Inequality and Franctionalization7. Duration Regressions: Social and Physical Indicators; 8. Duration Regressions: Globalization; 9. Duration Regressions: Current Account, Competitiveness, and Export Structure; 10. Duration Regressions: Macroeconomic Volatility; 11. Summary Regressions; IV. Conclusion; References

Notes:

"March 2008."

At head of title: Research Department.

Includes bibliographical references (p. 30-33).

Description based on print version record.

ISBN:

9786612840401

9781462390113

1462390110

9781452734965

1452734968

9781282840409

1282840401

9781451869217

1451869215

OCLC:

560672870