Growth still is good for the poor

David Dollar, Tatjana Kleineberg, Aart Kraay, 19 November 2013

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With the formulation of the Post-2015 Development Agenda in full swing, it is important to reassess how and to what extent new development challenges should be reflected in the agenda. A key part of the soon-expiring Millennium Development Goals aimed at halving absolute poverty – as defined by the World Bank's $1.25/day standard – between 1990 and 2015.

Topics: Development
Tags: development, growth, Inequality, Millennium Development Goals, Poverty, World Bank

Public debt and economic growth: There is no ‘tipping point’

Markus Eberhardt, Andrea F Presbitero, 17 November 2013

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The presence of a common threshold, or ‘tipping point’ – beyond which the detrimental impact of debt on growth is significant, or significantly increases – is currently taken as given in many policy circles.

Topics: Macroeconomic policy
Tags: austerity, debt, growth

Democracy in Africa

Thorvaldur Gylfason, 17 November 2013

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A man’s admiration for absolute government is proportionate to the contempt he feels for those around him.
Alexis de Tocqueville

Until the second half of the 19th century, there were so few democratic states around the world that they could be counted on the fingers of one hand.

Topics: Development, Economic history, Politics and economics
Tags: Africa, anocracy, autocracy, Corruption, democracy, education, fertility, growth, life expectancy

African polygamy: Past and present

James Fenske, 9 November 2013

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Polygamy and poverty are both widespread in sub-Saharan Africa.1 Several arguments have been made suggesting this correlation is causal.

Topics: Development, Economic history, Poverty and income inequality
Tags: Africa, fertility, growth, polygamy, Poverty, slave trade

Long-term barriers to growth

Enrico Spolaore, Romain Wacziarg, 3 October 2013

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Students of comparative development have turned their focus to factors rooted deeper and deeper in history.

Topics: Development, Economic history
Tags: ancestry, Culture, development, geography, growth, technology transfer

A new age of uncertainty? Measuring its effect on the UK economy

Abigail Haddow, Chris Hare, John Hooley, Tamarah Shakir, 27 August 2013

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Previous analysis has shown that the global financial crisis led to a rise in global macroeconomic uncertainty. Nick Bloom and others have highlighted the adverse effect of heightened uncertainty on economic activity – in particular by causing firms to cut back on hiring and investment, and leading households to become more cautious in their spending (Bloom 2011, Baker et al. 2011).

Topics: Europe's nations and regions
Tags: growth, UK

Inclusive growth revisited: Measurement and evolution

Rahul Anand, Saurabh Mishra, Shanaka J Peiris, 17 August 2013

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Inclusive growth refers to both the pace and distribution of economic growth.

For growth to be sustainable and effective in reducing poverty, it needs to be inclusive (Berg and Ostry 2011a, Kraay 2004);

Topics: Global crisis, Macroeconomic policy
Tags: growth, measurement, metrics

Unleashing growth: The decline of innovation-blocking institutions

Klaus Desmet, Stephen L. Parente, 18 May 2013

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Two hundred years ago, during the Napoleonic Wars, the Luddite movement rocked the English industrial landscape. Dissatisfied with falling wages and increased competition from mills employing cheap rural labour, the Luddites broke into factories at night, smashing spinning frames and power looms.

Topics: Economic history, Productivity and Innovation
Tags: growth, guilds, institutions

Why reforms fail: Political-economy forces and agriculture in Africa

M. Ataman Aksoy, Bernard Hoekman, 15 May 2013

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There are many hypotheses on why some nations fail and others become successful (see Acemoglu and Robinson 2012). While the debate rages on, an area of agreement is that the strength of institutions and their ability to adjust to shocks is an important factor.

Topics: Development
Tags: Africa, growth

Eurozone: Looking for growth

Laurence Boone, Céline Renucci, Ruben Segura-Cayuela, 25 March 2013

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The financial crisis that erupted in 2008, prolonged by a sovereign crisis in the Eurozone, led to a massive contraction in trade, as well as in investment in physical and human capital; thus undermining the foundations of future growth. This may well continue as growth will not rapidly rebound while deleveraging slowly proceeds across Eurozone economies.

Topics: Europe's nations and regions, Productivity and Innovation
Tags: Ageing, Eurozone crisis, growth, productivity, Solow

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