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Summarizes recent research from hundreds of empirical studies on economic growth across countries that have highlighted the correlation between growth and a variety of variables.
Key Determinants of National Development addresses a suite of critical themes regarded by development experts to be germane in considering the pertinence of policies and their effective execution. These seven general thematic areas are explored: • Leadership, governance, policy and strategy • Public sector and public financial management • Culture, institutions and people • Natural resources • Science, technology and infrastructure • Private sector and financial markets • Marketing, branding and service delivery This thematic approach enables the contributors to explore the impact of the constituents of each subject area on national development, within the context of a developing economy. The significance of the findings for the relevant stakeholders is consequently reviewed. The combination of theory and practice makes the book and its contents unique.
Seminar paper from the year 2006 in the subject Economics - Economic Cycle and Growth, grade: 1,7, University of Paderborn (Faculty of Economics, Business Administration and Business Computing ), course: Research and Independent Studies in International Economics, language: English, abstract: The aim of this term paper is to find out what causes economic growth through analyzing determinants of growth in general and of regional growth, both in theory and evidence. The question why some countries grow significantly slower than others has been discussed intensively over the last decades. By thorough study of literature the main determinants will be indicated and similarities and differences between general and regional growth become visible. After a short introduction, in the second chapter the main growth determinants will be presented individually for the general and the regional area, each time also an introduction to the extensive literature (theory and empirics) of the specific area will be given beforehand. In the last chapter a conclusion will be drawn and an answer given to the question on which are the key determinants by comparing them with each other and in how far the results do distinguish on general and regional level.
This paper estimates medium-term potential growth for a country undergoing significant structural and secular changes. Our forward-looking framework, incorporating three analytical approaches for examining economic prospects, constitutes an important complement to typical backward-looking methods that filter or extrapolate historical data. In particular, the opening of the expanded Panama Canal in 2016 highlights significant structural changes underway in the Panamanian economy. We first analyze growth determinants and find that Panama is well-placed to maintain its business model, with improvements in education and governance important to support growth. Second, the current pipeline of investment projects can help sustain investment-led growth, although at a more moderate pace. Third, further development of the logistics and tourism sectors holds promise to further build on Panama’s comparative advantage.
Summarizes recent research from hundreds of empirical studies on economic growth across countries that have highlighted the correlation between growth and a variety of variables.
"The authors present real per capita GDP growth forecasts for all developing countries for the period 2005-14. For 55 of these countries, representing major world regions and accounting for close to 80 percent of the developing world's GDP, they forecast the growth effects of the main forces underpinning growth, assuming that these evolve following past trends. The authors find that for the average developing country the largest growth dividend comes from continued improvement in public infrastructure, followed by the growth contributions of rising secondary school enrollment, trade openness, and financial deepening. The joint contribution of these four growth determinants to average, annual per capita GDP growth in the next decade is estimated to be 1 percentage point. Failure to keep improving public infrastructure alone could reduce this growth dividend by 50 percent. The forecasted growth contributions differ by country qualitatively and quantitatively. "--World Bank web site.
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD