Suchergebnisse

This study provides an analysis of the aid-private capital flows-growth nexus for Ghana. It is premised on the argument that Ghana's new status as a middle income country plus the start of oil production is bound to result in a reduction in ODA inflows in the long term. However in the short to medium term ODA will remain an important component in the country's fiscals as well as an important tool for leveraging government policy. One of the key questions that the study addresses is how aid can be used as to reinforce the country's growth in a way that reduces its chances of being a victim of the 'oil curse'. The study makes two key observations about the economy of Ghana. First, it notes that although the structure of the economy has changed over the years, the observed change has not been of the developmentally transformative type. Production within the economy still takes place on the lower end of the technology scale and the country's exports is still dominated by primary products. Second, it notes that revenue from oil can at best replace foreign aid in the long run. However in the short to medium term, Ghana will have the complement of both oil and aid. It there behoves on the country that aid is used in an efficient and creative way so as to help improve productivity and production in agriculture and manufacturing. The study concludes by making two suggestions as to how aid can be used to help transform the economy. The first suggestion is to tackle the structural deficiency in the country's fiscals in a decisive way. The second is the need to properly prioritize public investments so as to maximize their returns.

This article examines the impact that external financial flows have on gross domestic product (GDP) growth in a new, small, and open economy—the Republic of Kosovo. Remittances, foreign direct investment (FDI), foreign debt, and net exports may affect GDP in different ways. In the context of a new, small, and open economy, these factors can be important determinants of economic development. This article examines the direct effect of these factors on economic development as represented by GDP growth in Kosovo, covering the period of 2012–2018. The relationships between remittances, net exports, FDI, external debt, and GDP are modeled based on theoretical arguments and empirical evidence. The results suggest that in Kosovo, remittances are the leading contributor to GDP growth. This contribution could be more valuable if remittances were invested in the manufacturing sector. These investments could have positive effects on job creation, thereby reducing the unemployment rate and Kosovo's dependence on imports.

The US workforce has had little change in real wages, income, or earnings since the year 2000. However, even when there is little change in the average rate at which workers are compensated, individual workers experienced a distribution of wage and earnings changes. In this paper, we demonstrate how earnings evolve in the US economy in the years 2001-2014 on a forthcoming dataset on earnings for stayers and transitioners from the U.S. Census Bureau's Job-to-Job Flows data product. We account for the roles of on-the-job earnings growth, job-to-job flows, and nonemployment in the growth of U.S. earnings.

Abstract
Literature notes many factors as affecting capital flows, but the effects of these flows over the recipient economies and the overall effect over growth are highly debatable. This study claims that although capital flows may be required for the increase in output, other forces are causing this growth and creating the demand for capital. We construct a model in which growth requires both decisions of firms regarding training of managers in order to expand, representing the absorption capacity of the firms, and capital for the firms' expansion. The model shows that in early stages of development when output is low, capital inflows are increasing with an increase in the output, but are not the cause for the output growth. However, when output is higher, an increase in the output is associated with financial outflows since the local savings are increasing by more than the local demand for capital. Although we cannot empirically test the model, we use cross-country regressions to show that capital flows are in-line with the predictions of the model and manage to explain half of the variations in net FDI flows per capita using the stage of development. Many policies regarding capital flows may be, therefore, irrelevant.