Endogenous aggregate elasticity of substitution
In: Journal of economic dynamics & control, Band 31, Heft 9, S. 2899-2919
ISSN: 0165-1889
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In: Journal of economic dynamics & control, Band 31, Heft 9, S. 2899-2919
ISSN: 0165-1889
In: IMF Working Paper No. 19/232
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Working paper
In: Journal of economic dynamics & control, Band 30, Heft 6, S. 901-930
ISSN: 0165-1889
In: IMF Working Papers
We examine the relationship between trade and financial globalization and the rise in inequality in most countries in recent decades. We find technological progress as having a greater impact than globalization on inequality. The limited overall impact of globalization reflects two offsetting tendencies: whereas trade globalization is associated with a reduction in inequality, financial globalization-and foreign direct investment in particular-is associated with an increase. A key finding is that both globalization and technological changes increase the returns on human capital, underscoring t
In: Journal of development economics, Band 161, S. 103037
ISSN: 0304-3878
In: Journal of development economics, Band 161, S. 1-23
ISSN: 0304-3878
World Affairs Online
In: IMF Working Paper No. 2022/081
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In: IMF Working Paper No. 2022/121
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In: FRB Atlanta Working Paper No. 2021-19
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In: IMF Working Paper No. 19/217
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Working paper
In: Journal of development economics, Band 135, S. 574-586
ISSN: 0304-3878
In: IMF Working Paper No. 17/223
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Economic development critically involves diversification and structural transformation—that is, the continued, dynamic reallocation of resources from less productive to more productive sectors and activities. This paper documents that, over an extended period, developing Asia has on average been particularly successful in diversifying its exports, particularly in comparison with Sub-Saharan Africa. Much of the progress has occurred through diversification along the 'extensive margin,' that is, through entry into completely new products. In addition, developing Asia has on average benefited significantly from quality upgrading, helping it capitalize on already existing comparative advantages. Yet, agricultural and natural resources tend to have lower potential for quality upgrading than manufactures. Therefore, for lower-income "frontier" countries, diversification into products with longer "quality ladders" may be a necessary first step before large gains from quality improvement can be reaped.
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Working paper
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