Macroeconomic Responses by Developing Countries to Changes in External Economic Conditions

Buiter, Willem H.

doi:10.3386/w1836

Cited by 7 publications

(3 citation statements)

References 7 publications

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“…The growth of world markets is expected to positively impact Africa's growth. World markets proxy the export market or demand for developing countries' output (Buiter, 1986), Africa in our case. A recession in the industrial world constitutes a contractionary shock to Africa's aggregate demand.…”

Section: The Role Of Common Global Economic Factors On Africa's Economentioning

confidence: 99%

Do Common Global Economic Factors Matter for Africa's Economic Growth?

Bangwayo-Skeete¹

2012

J of Intl Development

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Empirical research has generally attributed the dismal performance of Africa's economic growth to country-specific socio-economic and geo-political factors. This paper shows that while country-specific issues matter for Africa's economic growth, common global economic factors do matter as well. The importance of common global economic factors has been augmented by increased globalization, the introduction of the World Trade Organization and the current global economic crisis. Using system GMM panel data techniques that extend previous literature on Africa's growth, the estimation results provide new insights into the positive relationship between the world business cycle and the growth rates of African countries.Common Global Economic Factors 309 ÃÃÃ , ÃÃ and Ã denote statistical significance at 1, 5 and 10 per cent level, respectively. AR 1 and AR 2 are tests of first order and second order serial correlation respectively with null hypothesis of no serial correlation of each order.Notes: All regressions include a set of period dummies. Curved brackets () standard errors. Square brackets [ ] p-values. ÃÃÃ, ÃÃ and Ã denote statistical significance at 1, 5 and 10 per cent level, respectively. AR1 and AR 2 are tests of first order and second order serial correlation respectively with null hypothesis of no serial correlation of each order. The lag for the growth of world real interest rate, Dwri tÀ1 was dropped due to multicollinearity.

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Section: The Role Of Common Global Economic Factors On Africa's Economentioning

confidence: 99%

Do Common Global Economic Factors Matter for Africa's Economic Growth?

Bangwayo-Skeete¹

2012

J of Intl Development

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“…There has been considerable debate in the literature about whether there are two broad types of economy-wide policies, typically labeled "stabilization" and 'structural adjustment" (Buiter 1986;Killick 1986). There is little point in pursuing the issue here.…”

Section: Components Of Adjustment Programsmentioning

confidence: 99%

Agricultural research in an era of adjustment

Tabor¹

1995

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The Economic Development Institute (EDI) was established by the World Bank in 1955 to train officials concerned with development planning, policymaking, investment analysis, and project implementation in member developing countries. At present the substance of the EDI's work emphasizes macroeconomic and sectoral economic policy analysis. Through a variety of courses, seminars, and workshops, most of which are given overseas in cooperation with local institutions, the EDI seeks to sharpen analytical skills used in policy analysis and to broaden understanding of the experience of individual countries with economic development. Although the EDI's publications are designed to support its training activities, many are of interest to a much broader audience. EDI materials, including any findings, interpretations, and conclusions, are entirely those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to members of its Board of Executive Directors or the countries they represent. Because of the informality of this series and to make the publication available with the least possible delay, the manuscript has not been edited as fully as would be the case with a more formal document, and the World Bank accepts no responsibility for errors. Some sources cited in this paper may be informal documents that are not readily available.

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“…These institutions suffered severely from inconsistent government financing, currently associated with the global economic slowdown of the early eighties (Buiter 1986;Dornbush 1986;Tibi 1989). In Latin America, adjusting the nations to the new international economics resulted, first, in skyrocketing government expenditures designed to keep the old engine running (Corbo and De Melo 1987) only to be followed next by fiscal instability and resulting deficits in public accounts (Fisher 1986;Calvo 1986).…”

Section: Introductionmentioning

confidence: 99%

Issues and perspectives for higher education in Argentina in the 1990s

Gertel

1991

High Educ

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In Argentina, inadequate financing of higher education is an old rather than a new issue. The paper takes a close look at the financing issues associated with the evolution of national universities in Argentina in . Accordingly, the first and second sections highlight the major trend ofthe last thirty years in student population, faculty staffand goverment spending. The third section explores the teaching and research labor market covered by the national universities. The fourth section includes a discussion of several proposals under debate to ease existing constraints to the financing of higher education. Finally, the feasibility of these proposals, as well as their limitations and possibilities in the light of the the long run trend in enrollment and expenditures reviewed in the previous sections are discussed.

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Macroeconomic Responses by Developing Countries to Changes in External Economic Conditions

Cited by 7 publications

References 7 publications

Do Common Global Economic Factors Matter for Africa's Economic Growth?

Do Common Global Economic Factors Matter for Africa's Economic Growth?

Agricultural research in an era of adjustment

Issues and perspectives for higher education in Argentina in the 1990s

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