The Price of Capital Goods: A Driver of Investment Under Threat PDF Download
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Author: Weicheng Lian
Publisher: International Monetary Fund
ISBN: 149832343X
Category : Business & Economics
Languages : en
Pages : 84
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Book Description
Over the past three decades, the price of machinery and equipment fell dramatically relative to other prices in advanced and emerging market and developing economies. Using cross-country and sectoral data, we show that the decline in the relative price of tangible tradable capital goods provided a significant impetus to the capital deepening that took place during the same time period. The broad-based decline in the relative price of machinery and equipment, in turn, was driven by the faster productivity growth in the capital goods producing sectors relative to the rest of the economy, and deeper trade integration, which induced domestic producers to lower prices and increase their efficiency. Our findings suggest an additional channel through which rising trade tensions and sluggish productivity could threaten real investment growth going forward.
Author: Weicheng Lian
Publisher: International Monetary Fund
ISBN: 149832343X
Category : Business & Economics
Languages : en
Pages : 84
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Book Description
Over the past three decades, the price of machinery and equipment fell dramatically relative to other prices in advanced and emerging market and developing economies. Using cross-country and sectoral data, we show that the decline in the relative price of tangible tradable capital goods provided a significant impetus to the capital deepening that took place during the same time period. The broad-based decline in the relative price of machinery and equipment, in turn, was driven by the faster productivity growth in the capital goods producing sectors relative to the rest of the economy, and deeper trade integration, which induced domestic producers to lower prices and increase their efficiency. Our findings suggest an additional channel through which rising trade tensions and sluggish productivity could threaten real investment growth going forward.
Author: Mary Hallward-Driemeier
Publisher: World Bank Publications
ISBN: 1464811938
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
Technology and globalization are threatening manufacturing’s traditional ability to deliver both productivity and jobs at a large scale for unskilled workers. Concerns about widening inequality within and across countries are raising questions about whether interventions are needed and how effective they could be. Trouble in the Making? The Future of Manufacturing-Led Development addresses three questions: - How has the global manufacturing landscape changed and why does this matter for development opportunities? - How are emerging trends in technology and globalization likely to shape the feasibility and desirability of manufacturing-led development in the future? - If low wages are going to be less important in defining competitiveness, how can less industrialized countries make the most of new opportunities that shifting technologies and globalization patterns may bring? The book examines the impacts of new technologies (i.e., the Internet of Things, 3-D printing, and advanced robotics), rising international competition, and increased servicification on manufacturing productivity and employment. The aim is to inform policy choices for countries currently producing and for those seeking to enter new manufacturing markets. Increased polarization is a risk, but the book analyzes ways to go beyond focusing on potential disruptions to position workers, firms, and locations for new opportunities. www.worldbank.org/futureofmanufacturing
Author: Kakali Mukhopadhyay
Publisher: Palgrave Macmillan
ISBN: 9783030756703
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
In the fast-changing policy arena of a country as diverse as India, gauging regional implications of policy shifts is critical but challenging. E3-India is a policy evaluation tool based on the internationally recognized E3ME global model, that allows for iterative quantification of multiple policy options within an integrated economy-energy-environment framework to support wellinformed progressive policy choices at the regional level. This book provides comprehensive coverage of creating and using E3 modeling framework for regional policy analysis, which is available in public domain for the first time in India, addressing existing flagship Government of India policies, including but not limited to the Make in India initiative, Digital India initiative, Automotive Mission Plan, Nationally Determined Commitments under the Paris agreement, and the Atmanirbhar Bharat relief package. These studies have been designed to provide in-depth and lucid insights regarding choices for resource allocation by policymakers, thereby serving as a comprehensive guide for evidence-based policymaking in India.
Author: Sergii Meleshchuk
Publisher: International Monetary Fund
ISBN: 1513545272
Category : Business & Economics
Languages : en
Pages : 35
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Book Description
In this paper we demonstrate the importance of distinguishing capital goods tariffs from other tariffs. Using exposure to a quasi-natural experiment induced by a trade reform in Colombia, we find that firms that have been more exposed to a reduction in intermediate and consumption input or output tariffs do not significantly increase their investment rates. However, firms’ investment rate increase strongly in response to a reduction in capital goods input tariffs. Firms do not substitute capital with labor, but instead also increase employment, especially for production workers. Reduction in other tariff rates do not increase investment and employment. Our results suggest that a reduction in the relative price of capital goods can significantly boost investment and employment and does not seem to lead to a decline in the labor share.
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464814953
Category : Business & Economics
Languages : en
Pages : 545
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Book Description
Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
Author: Gaurav Nayyar
Publisher: World Bank Publications
ISBN: 1464817103
Category : Business & Economics
Languages : en
Pages : 364
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Book Description
Manufacturing-led development has provided the traditional model for creating jobs and prosperity. But in the past three decades the conventional pattern of structural transformation has changed, with the services sector growing faster than the manufacturing sector. This raises critical questions about the ability of developing economies to close productivity gaps with advanced economies and to create good jobs for more people. At Your Service? The Promise of Services-Led Development (www.worldbank.org/services-led-development) assesses the scope of a services-driven development model and policy directions that can maximize the model’s potential.
Author: Kong Rae-Lee
Publisher: Routledge
ISBN: 1317938607
Category : Business & Economics
Languages : en
Pages : 244
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Book Description
The results of the empirical investigation of Japan and Korea show that the user firms in both countries, represented by car makers, have involved themselves in the technical and entrepreneurial entry into machine tools along with making active investments. As a consequence, they made a considerable contribution to the innovation of machine tools, increasing their competitive advantage as well as the competence of their specialized suppliers.
Author: Alasdair I. MacBean
Publisher: Cambridge : Harvard University Press, 1966 [i.e. 1967]
ISBN:
Category : Business & Economics
Languages : en
Pages : 376
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Book Description
Author: Per Lind
Publisher: Routledge
ISBN: 1351142267
Category : Business & Economics
Languages : en
Pages : 157
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Book Description
Originally published in 1991, this book looks at the problems of applying Western computer programmes to the developing world, arguing that the difficulties are as much cultural as technological. The author shows that the underlying models for computer applications are made up from interpretations of reality which are closely related to Western scientific, technological and cultural development originating from the Renaissance. The book includes a case study of an Egyptian manufacturing company, which reveals the actual problems encountered in the process of computerization.
Author: Franco Malerba
Publisher: Edward Elgar Publishing
ISBN: 1849802181
Category : Social Science
Languages : en
Pages : 401
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Book Description
Over the past decade there has been a dramatic increase in the quantity and quality of research focused on the processes through which technological capabilities are acquired by countries significantly behind the economic frontier, and the institutions that effectively support the catching up process. This book is a splendid contribution to this literature. The concept of a sectoral innovation system is well suited for framing studies of these kinds of questions, and serves well to unify the many interesting empirical studies in the book. Some of those studies are success stories, others of less successful cases. Readers new to this body of research will find this book a great introduction. All readers will learn a lot from it about what is required for and involved in economic development. Richard R. Nelson, Columbia Earth Institute, US and University of Manchester, UK This book examines in detail the features and dynamics of sectoral systems of innovation and production in developing countries. Processes of rapid growth are usually associated with specific sectors such as automobiles, electronics or software, as well as with the transformation of traditional sectors such as agriculture and food. The book shows, however, that the variations across all these sectors in terms of structure and dynamics is so great that a full understanding of these differences is necessary if innovation is to be encouraged and growth sustained. The expert contributors promote this understanding by drawing upon empirical evidence from a wide range of sectoral systems, from traditional to high technology, and across a number of countries. They explore how these systems change and evolve, highlighting policy lessons to be drawn from the analysis. Case studies include the Brazilian aeronautical, pulp and paper industries, the Korean machine tool sector, motorbike manufacture in Thailand and Vietnam, pharmaceuticals and telecommunication equipment in India, ICT in Taiwan, the biofuels sector in Tanzania, salmon farming in Chile and software in Uruguay. Scholars and researchers in the fields of economics development economics in particular and innovation will find this book to be of great interest. Policymakers and managers focussing on innovation and growth in developing countries will also warmly welcome the book.
