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International Data on Educational Attainment Updates and Implications
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TL;DR: In this paper, the authors presented a data set that improves the measurement of educational attainment for a broad group of countries, and extended their previous estimates for the population over age 15 and over age 25 up to 1995 and provided projections for 2000.
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Abstract: This paper presents a data set that improves the measurement of educational attainment for a broad group of countries. We extend our previous estimates of educational attainment for the population over age 15 and over age 25 up to 1995 and provide projections for 2000. We discuss the estimation method for the measures of educational attainment and relate our estimates to alternative international measures of human capital stocks.
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Competing models of global dynamics: evidence from panel models with spatially correlated error components
TL;DR: In this article, two competing theories with differing implications for the long run dynamics of the global economy, neoclassical theory, implying conditional convergence, and New Economic Geography, implying multiple equilibria, are combined within an artificial nesting, panel data, model, embodying a spatial autoregressive error process allowing for unmodelled inter-country heterogeneity and spatially dependent errors.
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European women: why do(n’t) they work?1
TL;DR: In this paper, the authors provide empirical evidence on the role that institutions have played in determining participation rates of women in the European labour markets, and they discard any doubt on the influence of institutions on women's participation in Europe.
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On Current Account Surpluses and the Correction of Global Imbalances
TL;DR: In this paper, the authors analyzed the nature of external adjustments in current account surplus countries and concluded that a realignment of world growth rates is not likely to solve the current situation of global imbalances.
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Trade liberalization in a globalizing world
TL;DR: In this article, the authors show that import trade liberalization fostered not only trade but also inward investment, confirming that trade and FDI toward developing countries have been largely complements.
Managing Macroeconomic Crises
TL;DR: The authors reviewed the experience of the last decade on crisis prevention and management and pointed out that countries that are faced with a fall in inflows adjusted more promptly, rather than stalling for time by running down reserves or shifting to loans that are shorter-termed and dollar-denominated.
References
Financial Dependence and Growth
Raghuram G. Rajan,Raghuram G. Rajan,Raghuram G. Rajan,Luigi Zingales,Luigi Zingales,Luigi Zingales +5 more
TL;DR: This paper examined whether financial development facilitates economic growth by scrutinizing one rationale for such a relationship; that financial development reduces the costs of external finance to firms, and found that industrial sectors that are relatively more in need of foreign finance develop disproportionately faster in countries with more developed financial markets.
Why Do Some Countries Produce so Much More Output Per Worker than Others
TL;DR: This paper showed that differences in physical capital and educational attainment can only partially explain the variation in output per worker, and that a large amount of variation in the level of the Solow residual across countries is driven by differences in institutions and government policies.
Why do Some Countries Produce So Much More Output Per Worker than Others
Robert E. Hall,Charles I. Jones +1 more
TL;DR: This article showed that the differences in capital accumulation, productivity, and therefore output per worker are driven by differences in institutions and government policies, which are referred to as social infrastructure and called social infrastructure as endogenous, determined historically by location and other factors captured by language.
•Posted Content
Financial Dependence and Growth
Raghuram G. Rajan,Luigi Zingales +1 more
TL;DR: This paper examined whether financial development facilitates economic growth by scrutinizing one rationale for such a relationship: that financial development reduces the costs of external finance to firms, and they found that industrial sectors that are relatively more in need of foreign finance develop disproportionately faster in countries with more developed financial markets.
6.8K
Africa's Growth Tragedy: Policies and Ethnic Divisions
William Easterly,Ross Levine +1 more
TL;DR: This article showed that ethnic diversity helps explain cross-country differences in public policies and other economic indicators in Sub-Saharan Africa, and that high ethnic fragmentation explains a significant part of most of these characteristics.
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