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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498339468
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
The emergence of BRICs—Brazil, Russia, India, and China—is reshaping low-income countries’ (LICs) international economic relations. While industrial countries remain LICs’ dominant development partners, LIC-BRIC ties have increased so rapidly over the past decade that BRICs have become new growth drivers for LICs. Trade with BRICs is already close to half of the value of combined trade with the European Union and the United States, and larger than with other emerging market economies. BRIC FDI and development financing are making a significant impact in some key areas despite their relatively small volumes compared with those from advanced countries. Beyond the increased flows of goods and capital, BRICs have brought new dynamics in LICs’ economic relations with the rest of the world, complementing as well as competing with OECD partners. Nevertheless, while potential benefits from the LIC-BRIC ties are enormous, there are challenges and risks in realizing such benefits.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498339468
Category : Business & Economics
Languages : en
Pages : 64
Get Book Here
Book Description
The emergence of BRICs—Brazil, Russia, India, and China—is reshaping low-income countries’ (LICs) international economic relations. While industrial countries remain LICs’ dominant development partners, LIC-BRIC ties have increased so rapidly over the past decade that BRICs have become new growth drivers for LICs. Trade with BRICs is already close to half of the value of combined trade with the European Union and the United States, and larger than with other emerging market economies. BRIC FDI and development financing are making a significant impact in some key areas despite their relatively small volumes compared with those from advanced countries. Beyond the increased flows of goods and capital, BRICs have brought new dynamics in LICs’ economic relations with the rest of the world, complementing as well as competing with OECD partners. Nevertheless, while potential benefits from the LIC-BRIC ties are enormous, there are challenges and risks in realizing such benefits.
Author: Alistair Dieppe
Publisher: World Bank Publications
ISBN: 1464816093
Category : Business & Economics
Languages : en
Pages : 552
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Book Description
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
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: Issouf Samaké
Publisher: International Monetary Fund
ISBN: 1463924666
Category : Business & Economics
Languages : en
Pages : 37
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Book Description
Trade and financial ties between low-income countries (LICs) and Brazil, Russia, India, and China (BRICs) have expanded rapidly in recent years. This gives rise to the potential for growth to spill over from the latter to the former. We employ a global vector autoregression (GVAR) model to investigate the extent of business cycle transmission from BRICs to LICs through both direct (FDI, trade, productivity, exchange rates) and indirect (global commodity prices, demand, and interest rates) channels. The estimation results show that there are significant direct spillovers while indirect spillovers also matters in many cases. Based on these results, we show that growing LIC-BRIC ties have significantly helped alleviate the adverse impact of the recent global financial crisis on LIC economies.
Author: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
ISBN: 149833976X
Category : Business & Economics
Languages : en
Pages : 47
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Book Description
The rapid recovery in many low-income countries (LICs) following the global crisis has been sustained in 2012. Softening commodity prices have led to moderating inflation pressures in most LICs. However, progress in rebuilding policy buffers has halted over the past two years, despite continued strong growth in LICs.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498339204
Category : Business & Economics
Languages : en
Pages : 52
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Book Description
This paper, introduces the analytical framework for a Vulnerability Exercise for Low-Income Countries (VE-LIC). The envisaged exercise will strive to identify vulnerabilities and emerging risks that arise from changes in the external environment in a consistent manner across countries and across time. The objective is to strengthen the staff’s capacity to spot vulnerabilities and flag potential pressure points in LICs arising from external triggers before they materialize.
Author: Andrea Ciani
Publisher: World Bank Publications
ISBN: 1464815585
Category : Business & Economics
Languages : en
Pages : 187
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Book Description
Economic and social progress requires a diverse ecosystem of firms that play complementary roles. Making It Big: Why Developing Countries Need More Large Firms constitutes one of the most up-to-date assessments of how large firms are created in low- and middle-income countries and their role in development. It argues that large firms advance a range of development objectives in ways that other firms do not: large firms are more likely to innovate, export, and offer training and are more likely to adopt international standards of quality, among other contributions. Their particularities are closely associated with productivity advantages and translate into improved outcomes not only for their owners but also for their workers and for smaller enterprises in their value chains. The challenge for economic development, however, is that production does not reach economic scale in low- and middle-income countries. Why are large firms scarcer in developing countries? Drawing on a rare set of data from public and private sources, as well as proprietary data from the International Finance Corporation and case studies, this book shows that large firms are often born large—or with the attributes of largeness. In other words, what is distinct about them is often in place from day one of their operations. To fill the “missing top†? of the firm-size distribution with additional large firms, governments should support the creation of such firms by opening markets to greater competition. In low-income countries, this objective can be achieved through simple policy reorientation, such as breaking oligopolies, removing unnecessary restrictions to international trade and investment, and establishing strong rules to prevent the abuse of market power. Governments should also strive to ensure that private actors have the skills, technology, intelligence, infrastructure, and finance they need to create large ventures. Additionally, they should actively work to spread the benefits from production at scale across the largest possible number of market participants. This book seeks to bring frontier thinking and evidence on the role and origins of large firms to a wide range of readers, including academics, development practitioners and policy makers.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1475510861
Category : Business & Economics
Languages : en
Pages : 17
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Book Description
The research summaries in the September 2012 issue of the IMF Research Bulletin are "Surges in Capital Flows: Why History Repeats Itself" (by Mahvash S. Qureshi) and "The LIC-BRIC Linkage: Growth Spillovers" (by Issouf Samake, Yongzheng Yang, and Catherine Pattillo). The Q&A covers "Seven Questions on Monetary Transmission in Low-Income Countries" (by Prachi Mishra and Peter Montiel). "Conversations with a Visiting Scholar" features an interview with IMF Fellow Olivier Coibion. Also included in this issue are details on the IMF Fellowship Program, visiting scholars at the IMF, a listing of recently published IMF Working Papers and Staff Discussion Notes, and an announcement on IMF Economic Review's first Impact Factor.
Author: Paul Brenton
Publisher: World Bank Publications
ISBN: 1464818223
Category : Business & Economics
Languages : en
Pages : 217
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Book Description
Global value chains (GVCs) have driven dramatic expansions in trade, productivity, and economic growth in developing countries. This book examines the impact of the COVID-19 pandemic on GVCs and explores whether they can continue to be a driver of trade and development. The report reviews previous crises and what these tell us about the resilience of GVC firms to shocks. It examines the observed impact of COVID-19 on trade during the sharp global recession of 2020. It summarizes discussions with GVC firms on the impacts of, and their responses to, the COVID shock. GVCs showed surprising resilience, but the rapid recovery raised new issues with supply chains. The book then explores simulations from a global economic model of the potential longer-term impacts of COVID-19 on developing countries and other key factors shaping the global economy, including the evolving role of China, increasing trade restrictions and policy responses to global warming. The analysis shows that while there are risks associated with GVCs, especially those concentrated around key nodes and where opportunities to find alternative suppliers or buyers are limited, there are mechanisms by which GVCs maintain trade relationships during a crisis, paving the way for a strong trade-led recovery. Measures are identified that can enhance the resilience of GVCs in low-income countries. This report finds that policies that maintain and enhance trade can contribute toward crisis management and recovery. Attempts to reshore production would make all countries worse off, including those that implement them, and could drive 52 million people, mainly in Africa, into extreme poverty. Measures to meet climate change commitments will have more profound impacts, leading to a shift away from carbon-intensive GVCs, while new opportunities for trade will arise in GVCs that are less carbon intensive.
Author: Alfredo Saad-Filho
Publisher: BRILL
ISBN: 9004440410
Category : Social Science
Languages : en
Pages : 498
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Book Description
Growth and Change in Neoliberal Capitalism brings together selected essays written by Alfredo Saad-Filho, one of the most prominent Marxist political economists today. This book offers a rich analysis of long-term economic development in the current stage of capitalism, the new relations of dependence between countries, the prospects for poor countries, and the progressive alternatives to neoliberalism. The volume also provides a detailed set of studies of the political economy of Brazil, tracking its achievements, tragedies, contradictions and limitations.
