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A Multi-industry Model of Growth with Financing Constraints

A Multi-industry Model of Growth with Financing Constraints »

Source: A Multi-industry Model of Growth with Financing Constraints

Volume/Issue: 2009/119

Series: IMF Working Papers

Author(s): Anna Ilyina , and Roberto Samaniego

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2009

ISBN: 9781451872668

Keywords: Financial development, industry growth, R&;amp;#x0026;D intensity, external finance dependence, convergence dynamics, structural change, r &;amp; d, r &;amp; d intensity, equation, r &;amp; d intensive industries

This paper develops a multi-industry growth model in which firms require external funds to conduct productivity-enhancing R&D. The cost of research is industry-specific. The tightness of financing constraints depen...

Structural Reforms and Regional Convergence

Structural Reforms and Regional Convergence »

Source: Structural Reforms and Regional Convergence

Volume/Issue: 2012/106

Series: IMF Working Papers

Author(s): Antonio Spilimbergo , and Natasha Che

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2012

ISBN: 9781475503272

Keywords: Structural reforms, regional convergence, equation, wage, minimum wage, severance payment, statistics, Macroeconomic Analyses of Economic Development, Economic Development: Regional, Urban

Which structural reforms affect the speed the regional convergence within a country? We found that domestic financial development, trade/current account openness, better institutional infrastructure, and selected l...

Life Expectancy and Income Convergence in the World
			: A Dynamic General Equilibrium Analysis

Life Expectancy and Income Convergence in the World : A Dynamic General Equilibrium Analysis »

Volume/Issue: 2008/158

Series: IMF Working Papers

Author(s): Kenichi Ueda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

DOI: http://dx.doi.org/10.5089/9781451870169.001

ISBN: 9781451870169

Keywords: life expectancy, value of life, income convergence., life insurance, life expectancies, gross returns, Income Convergence,

There is world-wide convergence in life expectancy, despite little convergence in GDP per capita. If one values longer life much more than material happiness, the world living standards may this have already conver...

Commodity Price Volatility, Cyclical Fluctuations, and Convergence
			: What is Ahead for Inflation in Emerging Europe?

Commodity Price Volatility, Cyclical Fluctuations, and Convergence : What is Ahead for Inflation in Emerging Europe? »

Volume/Issue: 2009/41

Series: IMF Working Papers

Author(s): Edda Zoli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

DOI: http://dx.doi.org/10.5089/9781451871890.001

ISBN: 9781451871890

Keywords: Price Convergence, price inflation, price level, inflation response,

This paper assesses the role of international commodity prices, cyclical fluctuations, and convergence in driving inflation in 18 European emerging economies. Country specific VARs and panel estimates indicate that...

Globalization and Growth in the Twentieth Century

Globalization and Growth in the Twentieth Century »

Volume/Issue: 2000/44

Series: IMF Working Papers

Author(s): N. Crafts

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2000

DOI: http://dx.doi.org/10.5089/9781451846409.001

ISBN: 9781451846409

Keywords: Growth, convergence, tfp, growth rates, real gdp, growth accounting

This paper reviews the experience of economic growth during the twentieth century with a view to highlighting implications for both growth economists and policy-makers. The unprecedented divergence in income levels...

Dynamic Factor Price Equalization & International Income Convergence

Dynamic Factor Price Equalization & International Income Convergence »

Volume/Issue: 2008/267

Series: IMF Working Papers

Author(s): Clinton Shiells , and Joseph Francois

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

DOI: http://dx.doi.org/10.5089/9781451871258.001

ISBN: 9781451871258

Keywords: Neoclassical Models of Trade, Economic Growth of Open Economies, Cross Country Output Convergence, capital stock, factor price, intermediate goods, factor price equalization, Cross-Country Output Convergence,

The paper develops a tractable way to incorporate the micro structure of dual models of international trade into a standard class of dynamic open-economy macro models. In the process, it develops the concept of a d...

Productivity Growth and Structural Reform in Bulgaria
			: Restarting the Convergence Engine

Productivity Growth and Structural Reform in Bulgaria : Restarting the Convergence Engine »

Volume/Issue: 2012/131

Series: IMF Working Papers

Author(s): Cyril Pouvelle , and Pritha Mitra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

DOI: http://dx.doi.org/10.5089/9781475503678.001

ISBN: 9781475503678

Keywords: Cross-Country Convergence, labor productivity, job creation, labor market, Productivity Growth and Structural Reform in Bulgaria: Restarting the Convergence Engine, Economywide Country Studies: Europe,

Labor productivity levels in Bulgaria lag well behind that in the EU, weighing on the convergence process. Stronger productivity growth would allow Bulgaria to close the income gap with the EU average more quickly...

Anatomy of Regional Disparities in the Slovak Republic

Anatomy of Regional Disparities in the Slovak Republic »

Volume/Issue: 2009/145

Series: IMF Working Papers

Author(s): Mariusz Jarmuzek , and Biswajit Banerjee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2009

DOI: http://dx.doi.org/10.5089/9781451872927.001

ISBN: 9781451872927

Keywords: Regional disparities, &;amp;#x03B2;-convergence, &;amp;#x03C3;-convergence, growth accounting, gdp per capita, tfp, labor utilization, gdp growth,

This paper examines economic growth and various dimensions of regional disparities in Slovakia. We find that regional disparities in the levels of GDP per capita, labor productivity, and labor utilization have wide...

Regional Financial Integration in the GCC

Regional Financial Integration in the GCC »

Volume/Issue: 2010/90

Series: IMF Working Papers

Author(s): Raphael Espinoza , Oral Williams , and Ananthakrishnan Prasad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2010

DOI: http://dx.doi.org/10.5089/9781451982589.001

ISBN: 9781451982589

Keywords: Interest rate convergence, sigma-convergence, beta-convergence, arbitrage opportunity, cross-listing, regional capital flows, financial integration, capital flows, equity markets, deposit rates

We investigate the extent of regional financial integration in the member countries of the Gulf Cooperation Council. The limited volume data available suggests that regional integration is non-negligible. Bahrain a...

Fiscal Reaction Functions in the CFA Zone
			: An Analytical Perspective

Fiscal Reaction Functions in the CFA Zone : An Analytical Perspective »

Volume/Issue: 2007/232

Series: IMF Working Papers

Author(s): Oral Williams , and Olumuyiwa Adedeji

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2007

DOI: http://dx.doi.org/10.5089/9781451867961.001

ISBN: 9781451867961

Keywords: CFA Zone, Convergence, Economic Model, debt, fiscal balance, fiscal performance, public debt,

The stance of fiscal policy in CEMAC and WAEMU is strongly influenced by fiscal effort in the previous period. This persistence underscores the risks of a procyclical fiscal policy stance, given these countries' hi...