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The Dynamics of Development : Innovation and Reallocation / Buera, Francisco J.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Buera, Francisco J.
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Innovation.
- Macroeconomics and Economic Growth.
- Misallocation.
- Private Sector Development.
- Privatization.
- Transition Dynamics.
- Local Subjects:
- Innovation.
- Macroeconomics and Economic Growth.
- Misallocation.
- Private Sector Development.
- Privatization.
- Transition Dynamics.
- Physical Description:
- 1 online resource (53 pages)
- Other Title:
- Dynamics of Development
- Place of Publication:
- Washington, D.C. : The World Bank, 2018.
- System Details:
- data file
- Summary:
- This paper proposes a quantitative model of firm dynamics with endogenous innovation to study growth acceleration episodes triggered by reforms. The authors find that reforms removing barriers to firm entry lead to persistent growth in TFP and declining average firm size, as in the experience of successful post-communist transitions. Reforms that reverse resource misallocation result in more protracted paths of TFP and rising average firm size, as in the experience of non-communist growth accelerations. When calibrating the reforms to data from Chile's and China's growth accelerations, the model can replicate the macro and firm-level features of these episodes.
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