Suchergebnisse

Contextualizing Openness offers a fascinating look at Open Science and the democratization of knowledge in international development and social transformation with a focus on the Global South. This volume presents contri­butions from the 12 projects that form the Open and Collaborative Science in Development Network (OCSDNet) organized around four central themes: Defining Open Sci­ence in Development, Governing Open Science, Negotiat­ing Open Science, and Expanding Open Science for Social Transformation. Chan, L., Okune, A., Hillyer, R., Albornoz, D., & Posada, A. (Eds.). (2019). Contextualizing Openness: Situating Open Science. University of Ottawa Press. https://www.idrc.ca/en/book/contextualizing-openness-situating-open-science

We study a model where economic growth is fueled by public basic-research investment and the importation of leading technology from foreign countries. In each period, the government chooses the amount of basic research, balancing the cost and benefits of stimulating growth through both channels. We establish the existence of steady states and the long-run share of technologically advanced sectors in the economy. Then, we explore how different degrees of openness affect long-term incentives to invest in basic research. Our main insight is that higher openness tends to encourage more investment in basic research which, in turn, yields a larger share of leading sectors. If, however, there are prospects of importing large technology advancements, highly open countries will reduce basic research as such imports become particularly valuable.

In this paper we propose a dynamic stochastic general equilibrium model to evaluate …financial adjustments that some emerging market economies went through to overcome external crises during the latest decades, such as default and local currency devaluation. We assume that devaluation can be used to avoid external debt default, to improve trade balance and to reduce the real public debt level denominated in local currency. Such effects increase the government ability to deal with external crisis, but also have costs in terms of welfare, related to expected in‡flation, reductions in private investments and higher interest to be paid over the public debt. We conclude that openness improves expected welfare as it allows for a better devaluation-response technology against crises. We also present results for 32 middle-income countries, verifying that the proposed model can indicate, in a stylized way, the preferences for default-devaluation options and the magnitude of the currency depreciation required to overcome 48 external crises occurred as from 1971. Finally, as we construct our model based on the Cole-Kehoe self-fulfilling debt crisis model, adding local debt and trade, it is important to say that their policy alternatives to leave the crisis zone remains in our extended model, namely, to reduce the external debt level and to lengthen its maturity. ; Com base em uma versão estendida do modelo Cole and Kehoe, avaliamos eventos de default e de desvalorizações cambiais. Historicamente, as desvalorizações têm ajudado na superação de crises financeiras ao estimular a balança comercial e ao reduzir o valor real da divida publica denominada em moeda nacional. Por outro lado, a expectativa de uma possível desvalorização produz efeitos negativos sobre o bem-estar: aumento do custo da divida e redução do nível de investimento privado. Modelamos esses trade-offs e mostramos que a abertura comercial melhora o bem-estar ao potencializar o efeito da desvalorização de câmbio sobre a balança comercial. Computamos simulações numéricas baseadas em 48 crises ocorridas em 32 países, e obtivemos resultados alinhados com as desvalorizações e os defaults observados desde 1971.