Terms of trade volatility, government spending cyclicality, and economic growth
نویسندگان
چکیده
منابع مشابه
Terms of Trade Volatility, Government Spending Cyclicality, and Economic Growth
This paper presents estimates of the effects that terms of trade volatility has on real GDP per capita growth. Based on 5-year non-overlapping panel data comprising 175 countries during 1980-2010, the paper finds that terms of trade volatility has significant adverse effects on economic growth in countries with procyclical government spending; in countries where government spending is countercy...
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Mark-up cyclical behaviour is relevant in determining the size of government spending multiplier on output. While theoretical literature priviliged the counteryclical hypothesis, empirical evidence is far from being conclusive. Based on seminal Rotemberg and Saloner (1986) contribution, we build a theoretical framework based on Bertrand duopoly, stochastic demand and product di¤erentiation, whe...
متن کاملthe impact of terms of trade volatility on economic growth of iran
the major challenge facing iranian economy is its overwhelming dependence on the oil exports. however, the world oil price has been subject to a lot of shocks, which have destabilized the iranian terms of trade. hence, this paper empirically examines the effect of terms of trade volatility on iran’s economic growth over 1967-2006. for this purpose, based on a garch model, a proxy for the terms ...
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International evidence indicates that higher terms of trade levels and lower terms of trade volatility contribute to enhanced growth outcomes, especially for commodity-export and developing countries. New Zealand’s terms of trade have been high and remarkably stable since the early 1990s compared with past experience. We analyse the proximate reasons behind these high, stable terms of trade and...
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ژورنال
عنوان ژورنال: Review of International Economics
سال: 2017
ISSN: 0965-7576
DOI: 10.1111/roie.12291