A new metrics for the Economic Complexity of countries and products
|
|
- Brook McDonald
- 8 years ago
- Views:
Transcription
1 A new metrics for the Economic Complexity of countries and products Andrea Tacchella Dept. of Physics, La Sapienza - University of Rome Istituto dei Sistemi Complessi, CNR Roma CRISISLAB ANALYTICS FOR CRISIS PREDICTION AND MANAGEMENT Rome, 8/0/013
2 Complex Systems and Economics So far two main approaches, mostly for Financial Markets Time-Series Analysis Agent Based Models We enter in a new field, where no quantitative method exists: A metric for the economic complexity of countries Non-Monetary Network-based
3 Classical Theory - Division of Labour It is the great multiplication of the productions of all the different arts, in consequence of the division of labour, which occasions, in a well-governed society, that universal opulence which extends itself to the lowest ranks of the people. Adam Smith - The Wealth of Nations
4 Specialization vs. Diversification Classic Theories (Smith, Ricardo): Efficiency and Specialization Block diagonal export matrix: Countries Products
5 Specialization vs. Diversification Real World: dynamic markets, globalized Triangular Shape Countries Complexity Products C. Hidalgo and R. Hausmann (PNAS 009)
6 Complexity is arising from the network An approach suggested by biological systems Far from equilibrium Countries must achieve stability trough diversification
7 Complexity is arising from the network An approach suggested by biological systems Far from equilibrium Countries must achieve stability trough diversification
8 Complexity is arising from the network An approach suggested by biological systems Far from equilibrium Countries must achieve stability trough diversification
9 The Building Blocks of Economic Complexity C. Hidalgo (MIT), R. Hausmann (Harvard) Countries Products C1 P1 C P C3 P3 Available Data
10 The Building Blocks of Economic Complexity C. Hidalgo (MIT), R. Hausmann (Harvard) Countries Products Countries Capabilities Products C1 P1 C1 A1 P1 C P C A P C3 P3 C3 A3 P3 Available Data Model
11 Extracting information from the matrix k c,1 ubiquity of products ALB ALB DZA DZA ARG ARG ARM ARM AUS AUS AUT AUT AZE AZE BHS BHS BHR BHR BGD BGD BRB BRB BLR BLR BLZ BLZ BEN BEN BOL BOL BRA BRA BFA BFA BDI BDI CMR CMR CAN CAN CAF CAF CHL CHL CHN CHN COL COL CRI CRI HRV HRV CYP CYP CZE CZE DNK DNK DOM DOM ECU ECU EGY EGY SLV SLV EST EST ETH ETH FJI FJI FIN FIN GAB GAB GMB GMB GEO GEO DEU DEU GHA GHA GRC GRC GTM GTM GIN GIN GUY GUY HTI HTIHND HND HKG HKG HUN HUN ISL ISL IND IND IDN IDN IRN IRN IRL IRL ISR ISR ITA ITA CIV CIV JAM JAM JPN JPN JOR JOR KAZ KAZ KEN KEN KGZ KGZ LVA LVA LBN LBN LTU LTU MAC MAC MDG MDG MWI MWI MYS MYS MLI MLI MLT MLT MUS MUS MEX MEX MDA MDA MNG MNG MAR MAR MOZ MOZ NPL NPL NLD NLD NCL NCL NZL NZL NIC NIC NER NER NGA NGA NOR NOR OMN OMN PAK PAK PAN PAN PNG PNG PRY PRY PER PER PHL PHL POL POL PRT PRT ROM ROM RUS RUS RWA RWA KNA KNA WSM WSM SAU SAU SEN SEN SLE SLE SGP SGP SVK SVK SVN SVN ZAF ZAF KOR KOR ESP ESP LKA LKA SDN SDN SWE SWE SYR SYR TJK TJK TZA TZA THA THA TGO TGO TTO TTO TUR TUR TKM TKM UGA UGA UKR UKR GBR GBR USA USA URY URY VEN VEN ZMB ZMB ZWE ZWE k c,0 k c,1 I II III IV k c,0 diversification Low diversification, high ubiquity High diversification, low ubiquity First order information
12 Method of Reflections C. Hidalgo (MIT), R. Hausmann (Harvard) Countries Products C1 P1 C P C3 P3 Definition of the Method k c,n = 1 k c,0 X p k p,n = 1 k p,0 X c M cp k p,n 1 M cp k c,n 1 k c,0 = X p k p,0 = X c M cp M cp
13 Limits and inconsistencies Log K c Iterations are converging to a single (trivial) value A simple model shows that correlation with capabilities is lost Log Fitness Log K c w Fitness w Iteration Order kc,n kc,n Σ kc,n N N N N N N Capabilities N N N
14 Conceptual limits Iteration should broaden the distribution! Fitnesscountry F USA =4.1 USA F (0) c X p M cp F NGA = F USA Nigeria F NGA = n
15 An example A Small World example Imagine a world with just 4 countries: We consider a small world made up by only four countries: USA, Austria, Mexico and Kazakhistan. We assume that each of them has a fixed fitness (F): Country Fitness USA 4 Austria 3 Mexico 0.5 Kazakhistan 0.1 We then perform a single step of the Method of Reflections, thus evaluating kp=<f>, and a single step of our Quality iteration: Qp=( p(1/fc)) 1. The average and the sums are performed only over the countries producing exported the p th product. products: If we calculate Q and k for products made by every possible combination of the four countries, this is what we obtain (Q and k are both equal to F when the producer is only one): Let s look at all the possible combinations of simultaneously Linear Non-Linear Producers k Q USA, Austria USA, Mexico Austria,Mexico USA, Austria, Mexico USA, Kazakhistan Austria, Kazakhistan USA, Austria, Mexico, Kazakhistan We clearly see that the ranking defined by Q is strongly dependent on who is the worst of the
16 A New Metric Intensive 5.0 Extensive 5.0 Fitness Log K c Log Fitness Log K c w 3.5 Complexity F c,n = X p Q p,n = Log@K c D 4.5 M cp Q c,n 1 F c,n = D F c,n E F 1 P c M cp Q 1 p,n = F.5 c,n 1 Log@Fitness w D N Q p,n D QE N A weighted version can also be defined by substituting M cp! W cp = q cp P c q cp 0 ess w Iteration Order Iteration Order
17 Pareto-Zipf distributions Intensive definition correlates with intensive measure of wealth Extensive definition correlates with extensive measure of wealth Black: PerCapitaGDP - Red: Fitness 01 Dashed: Zipf's Law Black: GDP - Red: Fitness w Dashed: Zipf's Law 1 1 Rescaled Variable H1 st =1L Rescaled Variable H1 st =1L Ranking Ranking
18 Pareto-Zipf distributions Quality is not altered by weights! Logarithm of Rescaled Variable H1 st =1L Black: Quality w - Red: Quality 01 Dashed: Zipf's Law Logarithm of Ranking
19 Sensitivity to errors and Missing data There are errors in the data! Must clean them, and be robust with respect to the ones which are still there Countries Products
20 Sensitivity to errors and Missing data Surprisingly NON-LINEAR performs better than LINEAR Correlation with modeled Fitness Added Noise In collaboration with F. Battiston
21 DEU FRA GBR USA ITA BEL JPN AUT CHE CZE NLD ESP CHN SWE DNK POL IND SVN SVK HUN KOR FIN BLR ISR CAN THA BGR PRT MEX BRA UKR SGP ROM ZAF TUR AUS EST RUS MYS GRC HRV LVA PRK IDN LTU AND PAN NZL IRL GEO NOR LBN MKD BIH PHL COL CYP URY ARG SLV CHL GTM AZE ARM PER ALB CRI VNM JOR KAZ DEU FRA GBR USA ITA BEL JPN AUT CHE CZE NLD ESP CHN SWE DNK POL IND SVN SVK HUN KOR FIN BLR ISR CAN THA BGR PRT MEX BRA UKR SGP ROM ZAF TUR AUS EST RUS MYS GRC HRV LVA PRK IDN LTU AND PAN NZL IRL NOR LBN MKD BIH PHL COL CYP URY ARG SLV GTM ALB VNM JOR fitness_01 Ranking DEU USA JPN CHN FRA ITA GBR NLD BEL CAN CHE ESP KOR SWE AUT MEX SGP DNK MYS IND AUS IRL BRA CZE FIN RUS THA IDN POL ZAF ISR TUR PRT NOR HUN ARG NZL PHL SVN SVK GRC UKR BLR CHL ROM COL VEN PER BGR ARE HRV VNM LTU PAK EST URY KAZ IRN MAR CRI LVA TUN SAU GTM EGY HND PAN JOR BGD MKD DEU USA JPN CHN FRA ITA GBR NLD BEL CAN CHE ESP KOR SWE AUT MEX SGP DNK MYS IND AUS IRL BRA CZE FIN RUS THA IDN POL ZAF ISR TUR PRT NOR HUN ARG NZL PHL SVN SVK GRC UKR BLR CHL ROM COL VEN PER BGR ARE HRV VNM LTU PAK EST URY KAZ IRN MAR CRI LVA TUN SAU GTM EGY PAN JOR BGD fitness_w Ranking USA JPN DEU FRA GBR ITA CHN BRA CAN ESP MEX IND NLD AUS KOR ARG CHE RUS TUR BEL SWE AUT DNK POL NOR SAU GRC ZAF FIN PRT THA COL ISR IDN IRN VEN EGY IRL SGP CHL PAK MYS PHL CZE PER NZL ARE HUN DZA BGD ROM UKR MAR NGA LBY VNM KWT URY HRV ECU SVK KAZ SVN TUN SYR GTM LBN BLR UZB CRI USA JPN DEU FRA GBR ITA CHN BRA CAN ESP MEX IND NLD AUS KOR ARG CHE RUS TUR BEL SWE AUT DNK POL NOR SAU GRC ZAF FIN PRT THA COL ISR IDN IRN VEN EGY IRL SGP CHL PAK MYS PHL CZE PER NZL ARE HUN DZA BGD ROM UKR MAR NGA LBY VNM KWT HRV ECU SVK KAZ SVN TUN SYR GTM BLR GDP Ranking BRIC - Time Evolution GDP is not enough GDP Extensive Intensive In the intensive measure real development emerges IND CHN BRA RUS
22 The potential for growth ALB ALB AND AND ARG ARG ARM ARM AUS AUS AUT AUT AZE AZE BHR BHR BGD BGD BLR BLR BEL BEL BOL BOL BIH BIH BRA BRA BGR BGR CAN CAN CHL CHL CHN CHN COL COL CRI CRI HRV HRV CYP CYP CZE CZE DNK DNK ECU ECU EGY EGY SLV SLV EST EST FIN FIN FRA FRA GEO GEO GRC GRC GTM GTM HND HND HUN HUN ISL ISL IND IND IDN IDN IRL IRL ISR ISR ITA ITA CIV CIV JPN JPN JOR JOR KAZ KAZ KEN KEN KGZ KGZ LVA LVA LBN LBN LTU LTU MKD MKD MDG MDG MYS MYS MLT MLT MEX MEX MAR MAR NPL NPL NLD NLD NZL NZL NIC NIC PRK PRK NOR NOR OMN OMN PAK PAK PAN PAN PRY PRY PER PER PHL PHL POL POL PRT PRT ROM ROM RUS RUS SAU SAU SEN SEN SGP SGP SVK SVK SVN SVN ZAF ZAF KOR KOR ESP ESP SWE SWE CHE CHE SYR SYR TZA TZA THA THA TGO TGO TUN TUN TUR TUR UKR UKR ARE ARE GBR GBR URY URY USA USA UZB UZB VEN VEN VNM VNM ZMB ZMB ZWE ZWE ARG ARG CYP CYP EGY EGY GRC GRC ISL ISL IRL IRL ITA ITA JPN JPN LBN LBN PRT PRT ESP ESP URY URY VEN VEN Log[fitness] Log[GDPPC]
23 The potential for growth 1995 ALB ALB AND AND ARG ARG ARM ARM AUS AUS AUT AUT AZE AZE BHR BHR BGD BGD BLR BLR BEL BEL BOL BOL BIH BIH BRA BRA BGR BGR CAN CAN CHL CHL CHN CHN COL COL CRI CRI HRV HRV CYP CYP CZE CZE DNK DNK ECU ECU EGY EGY SLV SLV EST EST FIN FIN FRA FRA GEO GEO GRC GRC GTM GTM HND HND HUN HUN ISL ISL IND IND IDN IDN IRL IRL ISR ISR ITA ITA CIV CIV JPN JPN JOR JOR KAZ KAZ KEN KEN KGZ KGZ LVA LVA LBN LBN LTU LTU MKD MKD MDG MDG MYS MYS MLT MLT MEX MEX MAR MAR NPL NPL NLD NLD NZL NZL NIC NIC PRK PRK NOR NOR OMN OMN PAK PAK PAN PAN PRY PRY PER PER PHL PHL POL POL PRT PRT ROM ROM RUS RUS SAU SAU SEN SEN SGP SGP SVK SVK SVN SVN ZAF ZAF KOR KOR ESP ESP SWE SWE CHE CHE SYR SYR TZA TZA THA THA TGO TGO TUN TUN TUR TUR UKR UKR ARE ARE GBR GBR URY URY USA USA UZB UZB VEN VEN VNM VNM ZMB ZMB ZWE ZWE ARG ARG CYP CYP EGY EGY GRC GRC ISL ISL IRL IRL ITA ITA JPN JPN LBN LBN PRT PRT ESP ESP URY URY VEN VEN Major rating downgrades ( ) Log[fitness] Log[GDPPC]
24 The potential for growth Log[GDPPC] Log[fitness]
25 The potential for growth RISKY ECONOMIES DEVELOPED COUNTRIES Log(GDPpc) UNDERDEVELOPED COUNTRIES DEVELOPING COUNTRIES Log(Fitness)
26 Network of Products Contraction: P-P network Filtering Procedure: selecting dependency links The Network of Products
27 Network of Products Colours: international categorization
28 Network of Products Colours: communities
29 Communities in the Network of Products Hubs of low Complexity pointing to more complex products
30 Network of Products Hubs of low Complexity pointing to more complex products wrong links signal completely misplaced products
31 Spotting wrong links 9% correct ordering 8% misplaced
32 Paths in product space Development of Thailand
33 Time evolution The network is evolving (evidences of diversification) Most of the new links remain inside the community
34 Time evolution The network is evolving (evidences of diversification) Most of the new links remain inside the community
35 Thanks for your attention!
The new gold standard? Empirically situating the TPP in the investment treaty universe
Graduate Institute of International and Development Studies Center for Trade and Economic Integration Working Paper Series Working Paper N IHEIDCTEI2015-08 The new gold standard? Empirically situating
More informationEconomic Complexity and the Wealth of Nations
Economic Complexity and the Wealth of Nations Cesar A. Hidalgo ABC Career Development Professor MIT Media Lab Faculty Associate, Center for International Development Harvard University EARTH WIND WATER
More informationAddressing institutional issues in the Poverty Reduction Strategy Paper process
SESSION 1 Addressing institutional issues in the Poverty Reduction Strategy Paper process Scoping notes, detailed diagnostics, and participatory processes Public Sector Reform and Capacity Building Unit
More informationFigure 1.1 The Parade of World Income. Copyright 2005 Pearson Addison-Wesley. All rights reserved. 1-1
Figure 1.1 The Parade of World Income Copyright 2005 Pearson Addison-Wesley. All rights reserved. 1-1 Copyright 2005 Pearson Addison-Wesley. All rights reserved. 1-2 Growth and Development: The Questions
More informationToday s tips for the Country Buy Report
High level outline Today s tips for the Country Buy Report Stephen Malpezzi Introduction Overview of the country and economy Basic indicators (GDP, employment, etc.) Key institutions, the setting How does
More informationKen Jackson. January 31st, 2013
Wilfrid Laurier University January 31st, 2013 Recap of the technology models Do the models match historical data? growth accounting Estimating technology change through history A revised model of technology
More informationEconomic Growth: the role of institutions
ECON 184 Economic Growth: the role of institutions ECON 184: Institutions and Growth January 26, 2010 1 Contents 1 Institutions and growth: initial analysis 3 2 How can institutions affect economic growth?
More informationAddressing The Marketing Problem of the Social Market Economy
Addressing The Marketing Problem of the Social Prepared for: KAS-Conference on 60 Years of Social Market Economy Sankt Augustin, November 30, 2009 Marcus Marktanner, American University of Beirut Outline
More informationDoes Absolute Latitude Explain Underdevelopment?
AREC 345: Global Poverty and Economic Development Lecture 4 Professor: Pamela Jakiela Department of Agricultural and Resource Economics University of Maryland, College Park Does Absolute Latitude Explain
More informationChina: How to maintain balanced growth? Ricardo Hausmann Kennedy School of Government Harvard University
China: How to maintain balanced growth? Ricardo Hausmann Kennedy School of Government Harvard University China s growth process An unprecedented miracle China has been the fastest growing country in the
More informationInfrastructure and Economic. Norman V. Loayza, World ldbank Rei Odawara, World Bank
Infrastructure and Economic Growth thin Egypt Norman V. Loayza, World ldbank Rei Odawara, World Bank Motivation Questions How does Egypt compare internationally regarding public infrastructure? Is Egypt
More informationThe Fall of the Final Mercantilism
The Fall of the Final Mercantilism Labour Mobility in the Caribbean and the World, from Arthur Lewis to the 21 st Century Eastern Caribbean Central Bank Michael Clemens November 3, 2010 1 2 Migration
More informationEstimating Global Migration Flow Tables Using Place of Birth Data
Estimating Global Migration Flow Tables Using Place of Birth Data Guy J. Abel Wittgenstein Centre (IIASA, VID/ÖAW, WU) Vienna Institute of Demography/Austrian Academy of Sciences 1 Introduction International
More informationTHE QUALITY OF GOVERNMENT CA FOSCARI INTERNATIONAL LECTURE
THE QUALITY OF GOVERNMENT CA FOSCARI INTERNATIONAL LECTURE Andrei Shleifer December 12, 2012 1 Richer countries almost always have better governments Less corrupt More efficient Quality of government improves
More informationBringing Up Incentives: A Look at the Determinants of Poverty. Alice Sheehan
Bringing Up Incentives: A Look at the Determinants of Poverty Alice Sheehan Outline presentation What s going on out there? Growth, Human Development indicators, Poverty rates, etc. A look at determinants
More informationDeep Roots of Comparative Development
Deep Roots of Comparative Development Oded Galor AEA Continuing Education Program Lecture III - AEA 2014 Oded Galor Roots of Comparative Development Lecture III - AEA 2014 1 / 41 Deep Roots of Comparative
More informationFinancial services and economic development
GDP per capita growth 03/11/2014 Financial services and economic development Thorsten Beck Finance why do we care? 0.04 BWA 0.02 0.00-0.02 COG SLE ALB GAB IND KOR TUR SGP MUS SDN MOZ IRLLUX IDN MAR EGY
More informationBuilding Capacity in PFM
Building Capacity in PFM Measuring economic governance in the context of national development planning LAMIA MOUBAYED BISSAT Beirut, Lebanon, 13 June 2014 The Institut des Finances Basil Fuleihan 1996
More informationNatural Resources and Development in the Middle East and North Africa: An Alternative Perspective
Natural Resources and Development in the Middle East and North Africa: An Alternative Perspective Daniel Lederman and Mustapha K. Nabli The World Bank Presentation at the Workshop on Natural Resources
More informationFear of flying: Policy stances in a troubled world economy
Fear of flying: Policy stances in a troubled world economy UNCTAD G-24 Technical Meeting Luxor, 10-11 March 2014 Session 1 Global Economy A weakening economic performance reflects inability to address
More informationMacroeconomics II. Growth
Macroeconomics II Growth Growth Possibilities We previously referred to the aggregate production function Y = A K α L 1- α. The growth rate of real GDP, Y, is generated by the contributions of A, K and
More informationLecture 21: Institutions II
Lecture 21: Institutions II Dave Donaldson and Esther Duflo 14.73 Challenges of World Poverty Institutions II: Plan for the lecture Discussion of assigned reading (Acemoglu, Johnson and Robinson) Causes
More informationTrade Policy Restrictiveness in Transportation Services
Trade Policy Restrictiveness in Transportation Services Ingo Borchert, Batshur Gootiiz and Aaditya Mattoo Development Research Group Trade and International Integration, The World Bank OECD Expert Meeting
More informationEconomic Growth: The Neo-classical & Endogenous Story
Density of countries Economic Growth: The Neo-classical & Endogenous Story EC307 ECONOMIC DEVELOPMENT 1960 Dr. Kumar Aniet University of Cambridge & LSE Summer School Lecture 4 1980 2000 created on July
More informationHuman Resources for Health Why we need to act now
Human Resources for Health Why we need to act now Progress towards the MDGs, particularly in Africa is slow, or even stagnating. Poor people cannot access basic services for want of doctors, nurses and
More informationECON 260 Theories of Economic Development. Instructor: Jorge Agüero. Fall 2008. Lecture 1 September 29, 2008 1
ECON 260 Theories of Economic Development. Instructor: Jorge Agüero. Fall 2008. Lecture 1 September 29, 2008 1 General information Time and location: TR 2:10-3:30 p.m. SPR 3123 Office hours: T 10am-11am,
More informationLecture 9: Institutions, Geography and Culture. Based on Acemoglu s L. Robbins lectures
Lecture 9: Institutions, Geography and Culture Based on Acemoglu s L. Robbins lectures 1 The Wealth of Nations Vast differences in prosperity across countries today. Income per capita in sub-saharan Africa
More informationPolitical Economy of Growth
1 Political Economy of Growth Daron Acemoglu Department of Economics, MIT Milan, DEFAP June 11, 2007 The Wealth of Nations Vast differences in prosperity across countries today. Income per capita in sub-saharan
More informationSubjective Well-Being, Income, Economic Development and Growth
Subjective Well-Being, Income, Economic Development and Growth Dan Sacks, Betsey Stevenson and Justin Wolfers Wharton School, University of Pennsylvania and NBER Annual Bank Conference on Development Economics--Stockholm,
More informationMovement and development. Australian National University Jan. 17, 2013 Michael Clemens
Movement and development Australian National University Jan. 17, 2013 Michael Clemens ? 60% Benefits Little Haiti Cap-Haïtien Gibson and McKenzie 2010 Tongan seasonal workers in NZ NZ$1,400/family
More informationInstitute for Development Policy and Management (IDPM)
Institute for Development Policy and Management (IDPM) Development Economics and Public Policy Working Paper Series WP No. 33/212 Published by: Development Economics and Public Policy Cluster, Institute
More informationLecture 12 The Solow Model and Convergence. Noah Williams
Lecture 12 The Solow Model and Convergence Noah Williams University of Wisconsin - Madison Economics 312 Spring 2010 Recall: Balanced Growth Path All per-capita variables grow at rate g. All level variables
More informationExport Survival and Comparative Advantage
Export Survival and Comparative Advantage (Work in progress) Regional Seminar on Export Diversification, October 27-28, 2010 Bolormaa Tumurchudur, UNCTAD Miho Shirotori, UNCTAD Alessandro Nicita, UNCTAD
More informationGovernance, Rule of Law and Transparency Matters: BRICs in Global Perspective
Governance, Rule of Law and Transparency Matters: BRICs in Global Perspective Daniel Kaufmann * Senior Fellow, Brookings Institution http://www.brookings.edu/experts/kaufmannd.aspx Panel on Transparency
More informationDEPENDENT ELITES IN POST- SOCIALISM: ARE LAND-BASED POST- COLONIAL SYSTEMS SO DIFFERENT FROM THE TRANSCONTINENTAL ONES? by Pal TAMAS [Institute of
DEPENDENT ELITES IN POST- SOCIALISM: ARE LAND-BASED POST- COLONIAL SYSTEMS SO DIFFERENT FROM THE TRANSCONTINENTAL ONES? by Pal TAMAS [Institute of Sociology, HAS Budapest] STRUCTURE OF THE PAPER 1. STATE
More informationTrade and International Integration: A Developing Program of Research
Trade and International Integration: A Developing Program of Research World Bank Development Economics Research Group Geneva, June 2013 Three areas of focus I. Implications of the changing patterns of
More informationIn Defense of Wall Street - Does Finance Cause Creative Destruction?
In Defense of Wall Street The Social Productivity of the Financial System Finance is powerful Mobilizes Researches and allocates Monitors and exerts corporate control Provides risk diversification and
More informationSubjective Well Being, Income, Economic Development and Growth
Subjective Well Being, Income, Economic Development and Growth Dan Sacks, Betsey Stevenson and Justin Wolfers Wharton School, University of Pennsylvania and NBER CSLS ICP Conference on Happiness December
More informationFinance, Growth & Opportunity. Implications for policy
Finance, Growth & Opportunity Implications for policy Today, I will make three points 1) Finance matters for human welfare beyond crises. 2) Financial innovation is associated with arguably necessary for
More informationInfrastructure and Economic Growth in Egypt
Public Disclosure Authorized Policy Research Working Paper 5177 WPS5177 Public Disclosure Authorized Public Disclosure Authorized Infrastructure and Economic Growth in Egypt Norman V. Loayza Rei Odawara
More informationDoes Export Concentration Cause Volatility?
Does Export Concentration Cause Volatility? Christian Busch 14. Januar 2010 Overview Countries with undiversified export structure are plausibly more vulnerable to external shocks. But difficult to evaluate
More informationInstitutional Change and Growth-Enabling Governance Capabilities
Institutional Change and Growth-Enabling Governance Capabilities Nicolas Meisel Strategy and Research Dept - French Development Agency (AFD) Jacques Ould Aoudia Treasury and Economic Policy Directorate
More informationCOMPLEXITY AND INDUSTRIAL POLICY
IPD/JICA Task Force on Industrial Policy and Transformation Amman, Jordan, June 5-6, 2014 COMPLEXITY AND INDUSTRIAL POLICY Luciano Pietronero Measuring the Intangible Growth Potential of Countries Collaborators:
More informationGeography and Economic Transition
Global Spatial Analysis at the Grid Cell Level Mesbah Motamed Raymond Florax Will Masters Department of Agricultural Economics Purdue University March 2009 Urbanization at the grid cell level Growth regimes
More informationNGO PERSPECTIVE: FROM WORDS TO DEEDS
MMSD & IIED Managing Mineral Wealth NGO PERSPECTIVE: FROM WORDS TO DEEDS Miguel Schloss Executive Director Transparency International Issues Policy distortions Institutional incentives Governance Implications
More informationRethinking the Wealth of Nations. Daron Acemoglu, MIT FEEM Lecture, December 14, 2009.
Rethinking the Wealth of Nations Daron Acemoglu, MIT FEEM Lecture, December 14, 2009. 1 The Failure of Nations Vast differences in prosperity across countries today. Income per capita in sub-saharan Africa
More informationEvaluation with stylized facts
Evaluation with stylized facts AMPERE Subgroup on IAM Validation Valeria Jana Schwanitz Potsdam Institute for Climate Impact Research 27. Mai 2013 Content Fundamental laws and stylized facts Systematic
More informationInformality in Latin America and the Caribbean
WPS4888 Policy Research Working Paper 4888 Informality in Latin America and the Caribbean Norman V. Loayza Luis Servén Naotaka Sugawara The World Bank Development Research Group Macroeconomics and Growth
More informationFertility Convergence
Fertility Convergence Tiloka De-Silva a Silvana Tenreyro a,b a London School of Economics, CfM; b CEP, CEPR July 2015 Abstract A vast literature has sought to explain large cross-country differences in
More informationRelative Prices and Sectoral Productivity
Relative Prices and Sectoral Productivity Margarida Duarte University of Toronto Diego Restuccia University of Toronto August 2012 Abstract The relative price of services rises with development. A standard
More informationLife-cycle Human Capital Accumulation Across Countries: Lessons From U.S. Immigrants
Life-cycle Human Capital Accumulation Across Countries: Lessons From U.S. Immigrants David Lagakos, UCSD and NBER Benjamin Moll, Princeton and NBER Tommaso Porzio, Yale Nancy Qian, Yale and NBER Todd Schoellman,
More informationGrowing Together with Growth Polarization and Income Inequality
Growing Together with Growth Polarization and Income Inequality Sudip Ranjan Basu, Ph.D. Economist, United Nations ESCAP UN DESA Expert Group Meeting on the World Economy (LINK Project) United Nations
More informationThe contribution of trade in financial services to economic growth and development. Thorsten Beck
The contribution of trade in financial services to economic growth and development Thorsten Beck Finance why do we care? 0.04 BWA GDP per capita growth 0.02 0.00-0.02 COG SLE ALB GAB IND KOR TUR SGP MUS
More information2006/SOM1/ACT/WKSP/007a Recasting Governance for the XXI Century - Presentation
2006/SOM1/ACT/WKSP/007a Recasting Governance for the XXI Century - Presentation Submitted by: Miguel Schloss, Managing Partner DamConsult Ltd. APEC Workshop on Anti-Corruption Measures for the Development
More informationSpecialization Patterns in International Trade
Specialization Patterns in International Trade Walter Steingress November 16, 2015 Abstract The pattern of specialization is key to understanding how trade affects the production structure of an economy.
More informationNon-market strategy under weak institutions
Lectures 5-6 Non-market strategy under weak institutions 1 Outline 1. Does weakness of institutions matter for business and economic performance? 2. Which institutions matter most? 3. Why institutions
More informationDiversification versus Polarization: Role of industrial policy in Asia and the Pacific
TOWARDS A RETURN OF INDUSTRIAL POLICY? ARTNeT SYMPOSIUM 25-26 JULY 211 ESCAP, BANGKOK Diversification versus Polarization: Role of industrial policy in Asia and the Pacific Sudip Ranjan Basu* International
More informationThe distribution of household financial contributions to the health system: A look outside Latin America and the Caribbean
The distribution of household financial contributions to the health system: A look outside Latin America and the Caribbean Priyanka Saksena and Ke Xu 3 November, 2008 Santiago 1 The distribution of household
More informationThe Role of Trade in Structural Transformation
1 The Role of Trade in Structural Transformation Marc Teignier UNIVERSIDAD DE ALICANTE European Summer Symposium in International Macroeconomics 23 May 2012, Tarragona Question Contributions Road Map Motivation
More informationTRADE WATCH DATA JANUARY T RVSFRRTVL
Public Disclosure Authorized TRADE WATCH DATA JANUARY T RVSFRRTVL Public Disclosure Authorized A C F D H T W B DECRG Public Disclosure Authorized Public Disclosure Authorized *TRADE WATCH is a monthly
More informationInformality in Latin America and the Caribbean
Public Disclosure Authorized Policy Research Working Paper 4888 WPS4888 Public Disclosure Authorized Public Disclosure Authorized Informality in Latin America and the Caribbean Norman V. Loayza Luis Servén
More informationTrends in global income inequality and their political implications
Trends in global income inequality and their political implications LIS Center; Graduate School City University of New York Talk at the Stockholm School of Economics, September 1, 2014 A. National inequalities
More informationIncen%ves The Good, the Bad and the Ugly
Incen%ves The Good, the Bad and the Ugly Vale Columbia Center Interna%onal Investment Conference New York, Nov 13-14, 2013 Sebas%an James The World Bank Group 1 Prevalence of Tax Incen%ves around the Number
More informationTripartite Agreements for MEPC.2/Circ. Lists 1, 3, 4 received by IMO following issuance of MEPC.2/Circ.20
The following is a list of tripartite agreements reported to IMO during the period between the issuance of the annual MEPC.2/Circular, disseminated in December of each year. Any countries wishing to join
More informationOnline Appendix to The Missing Food Problem: Trade, Agriculture, and International Income Differences
Online Appendix to The Missing Food Problem: Trade, Agriculture, and International Income Differences Trevor Tombe, Uversity of Calgary Contents 1 Proof of Propositions 2 2 Data and Sample of Countries
More informationThe Role of Women in Society: from Preindustrial to Modern Times
CESifo Economic Studies Advance Access published May 22, 2014 CESifo Economic Studies, 2014, doi:10.1093/cesifo/ifu019 The Role of Women in Society: from Preindustrial to Modern Times Paola Giuliano UCLA
More informationTripartite Agreements for MEPC.2/Circ. Lists 1, 3, 4 received by IMO following issuance of MEPC.2/Circ.21
The following is a list of tripartite agreements reported to IMO during the period between the issuance of the annual MEPC.2/Circular, disseminated in December of each year. Any countries wishing to join
More informationRodolfo Debenedetti Lecture
Rodolfo Debenedetti Lecture Andrei Shleifer March 2005 Legal Origin Distribution Legal Origins = English = French = German = Scandinavian = Socialist Institution Procedural Formalism Outcomes Time to evict
More informationThe Effects of Infrastructure Development on Growth and Income Distribution
The Effects of Infrastructure Development on Growth and Income Distribution César Calderón Luis Servén (Central Bank of Chile) (The World Bank) ALIDE - The World Bank - Banco BICE Reunión Latinoamericana
More informationAccounting For Cross-Country Income Di erences
Accounting For Cross-Country Income Di erences January 2011 () Aggregation January 2011 1 / 10 Standard Primal Growth Accounting Aggregate production possibilities frontier: where Change in output is )
More informationThe Macroeconomic Implications of Financial Globalization
The Macroeconomic Implications of Financial Globalization Eswar Prasad, IMF Research Department November 10, 2006 The views expressed in this paper are those of the author(s) ) only, and the presence of
More informationInternational Investment Patterns. Philip R. Lane WBI Seminar, Paris, April 2006
International Investment Patterns Philip R. Lane WBI Seminar, Paris, April 2006 Introduction What determines aggregate capital inflows and outflows? What determines bilateral patterns in international
More informationIndustrial Policy, Capabilities, and Growth: Where does the Future of Singapore lie? Jesus Felipe Asian Development Bank
Industrial Policy, Capabilities, and Growth: Where does the Future of Singapore lie? Jesus Felipe Asian Development Bank Purpose of the talk Understand the economic challenges that Singapore faces Discuss
More informationSession 5x: Bonus material
The Social Statistics Discipline Area, School of Social Sciences Session 5x: Bonus material Mitchell Centre for Network Analysis Johan Koskinen http://www.ccsr.ac.uk/staff/jk.htm! johan.koskinen@manchester.ac.uk
More informationSubjective Well Being and Income: Is There Any Evidence of Satiation? *
Subjective Well Being and Income: Is There Any Evidence of Satiation? * Betsey Stevenson The Gerald R. Ford School of Public Policy, University of Michigan & CESifo and NBER betseys@umich.edu www.nber.org/~bstevens
More informationA Pragmatic Approach to Capital Account Liberalization. Eswar Prasad Cornell University
A Pragmatic Approach to Capital Account Liberalization Eswar Prasad Cornell University Presentation partly based on my joint work with: Ayhan Kose, Kenneth Rogoff, Shang-Jin Wei (2003, 2006) Raghuram Rajan
More informationOutline 4/22/2011. Koc University April, 2011
4/22/211 Koc University April, 211 Outline Main messages Crisis experience and focus Reserves trends Review of existing approaches Proposed new approach and metric Cost of reserves Reserve alternatives
More informationGlobal Value Chains in the Current Trade Slowdown
MARCH 14 Number 137 Global Value Chains in the Current Trade Slowdown Michael J. Ferrantino and Daria Taglioni Real growth in global trade has decelerated significantly since its sharp recovery in 1. Year-on-year
More informationEC 2725 April 2009. Law and Finance. Effi Benmelech Harvard & NBER
EC 2725 April 2009 Law and Finance Effi Benmelech Harvard & NBER Broad Picture A market economy is not only laissez faire but it also requires a set of institutions that allow markets to work their magic.
More informationHow To Understand The World'S Governance
Metrics Matters: Measures of Governance and Security and the Business Perspective An initial empirical exploration Daniel Kaufmann, World Bank Institute www.worldbank.org/wbi/governance For presentation
More informationBUILDING A DATASET FOR BILATERAL MARITIME CONNECTIVITY
Région et Développement n - BUILDING A DATASET FOR BILATERAL MARITIME CONNECTIVITY Marco FUGAZZA *, Jan HOFFMANN *, Rado RAZAFINOMBANA * Abstract - This paper presents a unique database reporting the shortest
More informationThe Global Crisis in Low- and Middle-Income Countries: How the IMF Responded
The Global Crisis in Low- and Middle-Income Countries: How the IMF Responded Andrea F. Presbitero Alberto Zazzaro 1 Università Politecnica delle Marche 2 Money and Finance Research group (MoFiR) Real and
More informationBUILDING A DATASET FOR BILATERAL MARITIME CONNECTIVITY. Marco Fugazza Jan Hoffmann Rado Razafinombana
U N I T E D N AT I O N S C O N F E R E N C E O N T R A D E A N D D E V E L O P M E N T POLICY ISSUES IN INTERNATIONAL TRADE AND COMMODITIES STUDY SERIES No. BUILDING A DATASET FOR BILATERAL MARITIME CONNECTIVITY
More informationHow To Increase Crop Output
Adaptation to land constraints: Is Africa different? Derek Headey International Food Policy Research Institute (IFPRI) Thom Jayne Michigan State University (MSU) 1 1. Introduction Some 215 years ago, Malthus
More informationEcon 1340: World Economic History
Econ 1340: World Economic History Lecture 16 Camilo Gracía-Jimeno University of Pennsylvania April 4, 2011 Camilo Gracía-Jimeno (University of Pennsylvania)Econ 1340: World Economic History April 4, 2011
More informationA Survey of Securities Laws and Enforcement
A Survey of Securities Laws and Enforcement Preliminary Draft By Florencio Lopez-de-Silanes YALE University and NBER October 2003 *I am indebted to Patricio Amador, Jose Caballero and Manuel Garcia-Huitron
More informationBands (considered to be) Shared on an Equal Basis Between Space and Terrestrial Services (for Region 1)
Bands (considered to be) Shared on an Equal Basis Between Space and Terrestrial Services (for Region 1) Source: RR2012 Art 5, Art 9, Art 21, App 5, App 7; Rules of Procedure 2012 Rev. 5 Lower 137 137.025
More informationDesign of efficient redistributive fiscal policy
Fiscal Policy and Income Inequality Sanjeev Gupta Deputy Director Fiscal Affairs Department, IMF IMF-Hitotsubashi University Workshop March 12, Tokyo Structure of the presentation Trends in inequality
More informationPolitical Economy of Development and Underdevelopment
Political Economy of Development and Underdevelopment Daron Acemoglu Department of Economics Massachusetts Institute of Technology October 10, 2005 The State of the World Economy Vast differences in prosperity
More informationCountry Risk Classifications of the Participants to the Arrangement on Officially Supported Export Credits
Country Risk Classifications of the Participants to the Arrangement on Officially Supported Export Credits 19992013 8 9 10 11 12 13 01Jan99 22Jan99 19Mar99 1Jun99 14Oct99 24Jan00 29Jan99 26Mar99 24Jun99
More informationThe Impact of Primary and Secondary Education on Higher Education Quality 1
The Impact of Primary and Secondary Education on Higher Education Quality 1 Katharina Michaelowa University of Zurich katja.michaelowa@pw.unizh.ch 1. Introduction Undoubtedly, the overall education system
More informationFirst Credit Bureau Conference
First Credit Bureau Conference Riga, Latvia 13.1.15 Presentation by: Leora Klapper Lead Economist Development Research Group, World Bank DEVELOPING A NATIONAL CREDIT BUREAU Financial Development What is
More informationTechnology Choice. Francesco Caselli. Summer School 2005
Technology Choice Francesco Caselli Summer School 2005 1 Motivation All of the evidence and all of the models we have studied so far assume that cross-country technology differences are factor-neutral.
More informationThe Shift to Government Banking:
The Shift to Government Banking: Risks for the Netherlands and other Developed Countries Prof. Florencio Lopez de Silanes EDHEC Business School, NBER and DSF April 28, 2011 Amsterdam Outline I. The Policy
More informationEmployment, Structural Change, and Economic Development. Dani Rodrik March 15, 2012
Employment, Structural Change, and Economic Development Dani Rodrik March 15, 2012 A remarkable reversal in fortunes since 1990s -.04 -.02 0.02.04.06 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000
More informationTechnical partner paper 8
The Rockefeller Foundation Sponsored Initiative on the Role of the Private Sector in Health Systems in Developing Countries Technical partner paper 8 Regulation of Health Service Delivery in Private Sector:
More informationOverview of Growth Research in the Past Two Decades
Overview of Growth Research in the Past Two Decades by Pete Klenow Stanford University and NBER September 21, 2010 Early Growth Research 1950s Solow (1956) 1960s Nelson and Phelps (1966) 1970s Dark Ages
More informationDepartment of Economics
Department of Economics Dr. Seo-Young Cho Platz der Göttinger Sieben 3, D-37073 Göttingen Tel. +49 (0) 551 / 39-7368 Fax +49 (0) 551 / 39-7302 scho@uni-goettingen.de Göttingen, 17.02.2012 Several Developed
More informationRedistribution. E. Glen Weyl. Lecture 11 Turbo Section Elements of Economic Analysis II Fall 2011. University of Chicago
E. Glen Weyl University of Chicago Lecture 11 Turbo Section Elements of Economic Analysis II Fall 2011 Midterm reminder and introduction The midterm exam is tonight 4:30-6 in SS122 Open everything, no
More informationMeasuring the Pollution Terms of Trade with Technique Effects
Measuring the Pollution Terms of Trade with Technique Effects Jean-Marie Grether, University of Neuchâtel Nicole Mathys, Swiss Federal Office of Energy and University of Neuchâtel Conference on the International
More information