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Social Science > Demography

You are looking at 1 - 3 of 3 items for :

  • Type: Journal Issue x
  • Economic Development: General x
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Cover IMF Working Papers
Does Economic Diversification Lead to Financial Development? Evidence From topography
Mr. Rodney Ramcharan
An influential theoretical literature has observed that economic diversification can reduce risk and increase financial development. But causality operates in both directions, as a well functioning financial system can enable a society to invest in more productive but risky projects, thereby determining the degree of economic diversification. Thus, ordinary least squares (OLS) estimates of the impact of economic diversification on financial development are likely to be biased. Motivated by the economic geography literature, this paper uses instruments derived from topographical characteristics to estimate the impact of economic diversification on the development of finance. The fourth estimates suggest a large and robust role for diversification in shaping financial development. And these results imply that, by impeding financial sector development, the concentration of economic activity common in developing countries can adversely affect financial and economic development.
Keywords:
WP; central bank; OLS estimate; economic development; Gini coefficient; value added; Financial development; diversification; geography; LIML estimate; impact of diversification; standard deviation increase; fixed cost; private property; estimates of the impact; diversification coefficient; point estimate; per capita income; estimation procedure; Financial sector development; Bank deposits; Manufacturing; Africa
Cover IMF Working Papers
Macroeconomic Implications of Natural Disasters in the Caribbean
Mr. Tobias N. Rasmussen
Each year natural disasters affect about 200 million people and cause about $50 billion in damage. This paper compares the incidence of natural disasters across countries along several dimensions and finds that the relative costs tend to be far higher in developing countries than in advanced economies. The analysis shows that small island states are especially vulnerable, with the countries of the Eastern Caribbean standing out as among the most disaster-prone in the world. Natural disasters are found to have had a discernible macroeconomic impact, including large effects on fiscal and external balances, pointing to an important role for precautionary measures.
Keywords:
WP; ECCU country; country; GDP; government; market; price; Natural Disasters; Eastern Caribbean; Developing Countries; ECCU insurance market; countries of the Eastern Caribbean Currency Union; island state; market insurance; Insurance; Personal income; Fiscal stance; Caribbean; Global
Cover IMF Working Papers
Welfare Implications of HIV/AIDS
Mr. Markus Haacker
and
Mr. N. F. R. Crafts
The paper evaluates the impact of HIV/AIDS on welfare in several countries affected by the HIV/AIDS epidemic. Unlike studies focusing on the impact of HIV/AIDS on GDP per capita, we evaluate the impact of increased mortality using estimates of the value of statistical life. Our results illustrate the catastrophic impact of HIV/AIDS in the worst-affected countries and suggest that studies focusing on GDP and income per capita capture only a very small proportion of the welfare impact of HIV/AIDS.
Keywords:
WP; life expectancy; Welfare; HIV/AIDS; value of statistical life; Africa; adult HIV prevalence rate; income elasticity; mortality risk; welfare loss; no-AIDS scenario; HIV and AIDS; Personal income; Aging