Growth after the Crisis

How hospitable will the global environment be for economic growth in the developing world as we come out of the present financial crisis? The answer depends on how well the author manage the following tension. On the one hand, global macro stabilit...

Full description

Bibliographic Details
Main Author:	Rodrik, Dani
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	ABSOLUTE VALUE ADVANCED COUNTRIES ADVANCED ECONOMIES ADVERSE EFFECTS AGENCY PROBLEMS AGRICULTURE ALLOCATIVE EFFICIENCY ANNUAL GROWTH ANNUAL GROWTH RATE ASSETS BILATERAL TRADE BILL BINDING CONSTRAINT CAPITAL FLOWS CAPITAL INFLOW CAPITAL INFLOWS CAPITAL MOBILITY CAPITAL OUTFLOWS CHLORINE CLIMATE CHANGE COMMODITY COMMODITY PRICES COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES CONDITIONALITY CONSUMERS CONTRACT ENFORCEMENT COST OF CAPITAL COUNTRY CASE COUNTRY DUMMIES COUNTRY FIXED EFFECTS CROSS COUNTRY CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT BALANCES CURRENT ACCOUNT DEFICITS CURRENT ACCOUNT IMBALANCES CURRENT ACCOUNT SURPLUSES DEFICITS DEPENDENT VARIABLE DEPRECIATION DEVELOPED COUNTRIES DEVELOPED WORLD DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DEVELOPING WORLD DEVELOPMENT PRACTITIONERS DIVERSIFICATION DOMESTIC CONSUMPTION DOMESTIC DEMAND DOMESTIC SAVING DUAL ECONOMY DUTCH DISEASE ECONOMIC ACTIVITIES ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC HISTORY ECONOMIC PERFORMANCE ECONOMIC RELATIONS ECONOMIC RESEARCH ECONOMICS EMISSIONS ENDOGENOUS VARIABLES ENVIRONMENTAL ENVIRONMENTAL BENEFITS EQUILIBRIUM ESTIMATED COEFFICIENT ESTIMATED COEFFICIENTS EXCESS SUPPLY EXPENDITURE FUNCTION EXPENDITURES EXPORT PERFORMANCE EXPORT PROCESSING ZONES EXPORT VOLUMES EXPORTERS EXPORTS EXTERNAL BALANCE EXTERNAL DEFICITS EXTERNAL FINANCE EXTERNAL IMBALANCES EXTERNAL TRADE EXTERNALITIES FACTOR ENDOWMENTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL LIBERALIZATION FINANCIAL MARKETS FINANCIAL STABILITY FISCAL DEFICITS FISCAL POLICIES FISCAL POLICY FIXED EFFECTS FOREIGN CAPITAL FOREIGN COMPANIES GDP GDP PER CAPITA GENERAL EQUILIBRIUM GLOBAL MACRO GLOBAL RISK GLOBALIZATION GOLD GOLD STANDARD GREENHOUSE GASES GROWTH PERFORMANCE GROWTH POTENTIAL GROWTH PROCESS GROWTH PROSPECTS GROWTH RATE GROWTH RATES GROWTH THEORY HIGH GROWTH IMBALANCES IMPORT IMPORT BARRIERS IMPORT DEMAND IMPORTS INCENTIVE EFFECTS INCOME INCOME LEVELS INCOME SHARE INCOMES INCREASE GROWTH INDUSTRIAL POLICY INDUSTRIAL SECTOR INDUSTRIALIZATION INDUSTRIALIZATION STRATEGY INDUSTRIALIZED COUNTRIES INSTITUTIONAL ENVIRONMENT INTERMEDIATE INPUTS INTERNATIONAL TRADE INVESTMENT DEMAND INVESTMENT LEVELS JOB CREATION LABOR MARKETS LOCAL CONTENT LOCAL CURRENCY MACRO STABILITY MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MARKET EQUILIBRIUM MARKET FAILURES MARKET FORCES MONETARY POLICY NATURAL RESOURCES NEOCLASSICAL GROWTH MODEL NET CAPITAL NEW PRODUCTS OPEN CAPITAL ACCOUNTS OUTPUT PANEL REGRESSIONS PER CAPITA GROWTH POLICY CHANGES POLICY ENVIRONMENT POLICY MAKERS POLICY OPTIONS POLITICAL ECONOMY POOR COUNTRIES POSTWAR PERIOD POVERTY REDUCTION PRICE INCREASES PRIMARY COMMODITIES PRIMARY PRODUCTS PRIVATE SAVING PRODUCERS PRODUCTIVITY PRODUCTIVITY INCREASES PROFITABILITY PROPERTY RIGHTS PUBLIC FINANCE PUBLIC POLICY RAPID ECONOMIC GROWTH RAPID LIBERALIZATION RATE OF GROWTH REAL EXCHANGE RATE REAL EXCHANGE RATE APPRECIATION REAL EXCHANGE RATES REAL INCOME RED TAPE RELATIVE PRICE RELATIVE PRICES RICH COUNTRIES RISK SHARING SCATTER PLOTS SIGNIFICANT EFFECT SLOW GROWTH SLOWDOWN STANDARD DEVIATION STRUCTURAL CHANGE SUPPLY RESPONSE SUPPLY SIDE TAX TAX REVENUE TECHNOLOGICAL ADVANCE TERMS OF TRADE TRADABLE GOOD TRADABLE GOODS TRADABLE SECTORS TRADE BALANCE TRADE DEFICIT TRADE DEFICITS TRADE LIBERALIZATION TRADE POLICIES TRADE PROTECTION TRADE SURPLUS TRADE SURPLUSES UNCERTAINTIES UNDERVALUATION VALUE ADDED WAGES WEALTH WORLD DEVELOPMENT INDICATORS WORLD ECONOMY WORLD MARKET WORLD MARKETS WORLD TRADE WORLD TRADE ORGANIZATION WTO
Online Access:	http://documents.worldbank.org/curated/en/527211468341071399/Growth-after-the-crisis http://hdl.handle.net/10986/27937

Description
Summary:	How hospitable will the global environment be for economic growth in the developing world as we come out of the present financial crisis? The answer depends on how well the author manage the following tension. On the one hand, global macro stability requires that we prevent external imbalances from getting too large. On the other hand, growth in poor nations requires that the world economy be able to absorb a rapid increase in the supply of tradable produced in the developing world. It is possible to render these two requirements compatible, but doing so requires greater use of explicit industrial policies in developing countries, which have the potential of encouraging of modern tradable activities without spilling over into trade surpluses. The 'price' to be paid for greater discipline on real exchange rates and external imbalances is greater use (and permissiveness) towards industrial polices.

Growth after the Crisis

Similar Items