scholarly journals The Price of Capital Goods

2019 ◽  
Vol 19 (134) ◽  
pp. 1 ◽  
Author(s):  
Weicheng Lian ◽  
Natalija Novta ◽  
Evgenia Pugacheva ◽  
Yannick Timmer ◽  
Petia Topalova
Keyword(s):  
Developing Economies ◽  
Emerging Market ◽  
Relative Price ◽  
Trade Integration ◽  
Capital Goods ◽  
The Past ◽  
Time Period ◽  
Cross Country ◽  
Investment Growth ◽  
Additional Channel

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.

Anchoring Growth: The Importance of Productivity-Enhancing Reforms in Emerging Market and Developing Economies

2014 ◽  
Vol 05 (02) ◽  
pp. 1450001 ◽  
Author(s):  
Era Dabla-Norris ◽  
Giang Ho ◽  
Kalpana Kochhar ◽  
Annette Kyobe ◽  
Robert Tchaidze
Keyword(s):  
Developing Economies ◽  
Emerging Market ◽  
Supply Side ◽  
The Past ◽  
Sectoral Productivity ◽  
Growth Prospects ◽  
Increase Productivity ◽  
Broad Policy ◽  
Future Growth

This paper examines the supply side drivers of growth in emerging market and developing economics (EMDEs) during the past decades and discusses the role of productivity-enhancing reforms in bolstering future growth prospects. It examines aggregate and sectoral productivity trends including around reform episodes to draw broad policy lessons on what policies are needed to increase productivity. Findings suggest appropriate policies need to be tailored to the stage of economic development and to other pertinent features that give rise to the heterogeneous experiences of EMDEs.

Changing Patterns of Global Trade

Policy Papers ◽  
2011 ◽  
Vol 11 (44) ◽  
Author(s):  
Keyword(s):  
Emerging Market ◽  
High Technology ◽  
Relative Price ◽  
Global Trade ◽  
Global Supply Chains ◽  
Trade Patterns ◽  
The Past ◽  
Technology Products ◽  
Changing Patterns

The past few decades have seen important shifts that have reshaped the global trade landscape. As a share of global output, trade is now at almost three times the level in the early 1950s, in large part driven by the integration of rapidly growing emerging market economies (EMEs). The expansion in trade is mostly accounted for by growth in noncommodity exports, especially of high-technology products such as computers and electronics. It is also characterized by a growing role of global supply chains and an ongoing shift of technology content toward EMEs. These developments in global trade have been associated with growing trade interconnectedness and carry important implications for trade patterns, in particular in response to relative price changes. The aim of this paper is to outline the factors underlying these changes and analyze their implications for the outlook for global trade patterns.

scholarly journals Regional dimensions of recent investment weakness: Facts, investment needs and policy responses

2018 ◽  
Vol 2 (1) ◽  
pp. 37 ◽  
Author(s):  
Ekaterine Vashakmadze ◽  
Gerard Kambou ◽  
Derek Chen ◽  
Boaz Nandwa ◽  
Yoki Okawa ◽  
...  
Keyword(s):  
Economic Activity ◽  
Developing Economies ◽  
Public Investment ◽  
Emerging Market ◽  
Business Climate ◽  
Rapid Urbanization ◽  
Specific Policy ◽  
Policy Responses ◽  
Growth Prospects ◽  
Investment Growth

Investment growth in many emerging market and developing economies (EMDEs) has slowed sharply since 2010. Investment growth performance has varied significantly across different regions, however. This paper examines the evolution of investment growth in six EMDE regions, documents remaining investment needs, especially for infrastructure, and presents a set of region-specific policy responses to address these needs. It reports three main findings. First, investment growth has been particularly weak in EMDE regions hosting a large number of commodity exporters. In regions with a substantial number of commodity-importing economies, investment growth has been somewhat resilient but has also declined steadily since 2010. Second, sizable investment needs remain in most EMDE regions to make room for expanding economic activity and rapid urbanization. A large portion of these investment needs is in infrastructure and human capital. Finally, while specific policy priorities vary across regions, several policy options to address remaining investment needs apply universally. These include more, and more efficient, public investment and measures to improve overall growth prospects and the business climate. Improved project selection and monitoring, as well as better governance, may enhance the efficiency and benefits from public investment.

World Economy: Prospects and Barriers for Recovery

2012 ◽  
pp. 61-83 ◽  
Author(s):  
M. Ershov
Keyword(s):  
World Economy ◽  
Western World ◽  
Short Time Period ◽  
Market Segments ◽  
Junk Bonds ◽  
The Past ◽  
Time Period ◽  
The Us ◽  
Global Liquidity ◽  
Short Time

According to the latest forecasts, it will take 10 years for the world economy to get back to “decent shape”. Some more critical estimates suggest that the whole western world will have a “colossal mess” within the next 5–10 years. Regulators of some major countries significantly and over a short time‑period changed their forecasts for the worse which means that uncertainty in the outlook for the future persists. Indeed, the intensive anti‑crisis measures have reduced the severity of the past problems, however the problems themselves have not disappeared. Moreover, some of them have become more intense — the eurocrisis, excessive debts, global liquidity glut against the backdrop of its deficit in some of market segments. As was the case prior to the crisis, derivatives and high‑risk operations with “junk” bonds grow; budget problems — “fiscal cliff” in the US — and other problems worsen. All of the above forces the regulators to take unprecedented (in their scope and nature) steps. Will they be able to tackle the problems which emerge?

The Competitiveness of Capital-Goods Industries in Developing Countries

1968 ◽  
Vol 8 (2) ◽  
pp. 226-239
Author(s):  
Barend A. De Vries
Keyword(s):  
Developing Countries ◽  
Domestic Product ◽  
Capital Goods ◽  
The Past ◽  
Special Relevance

In the past two decades developing countries have invested an increasing proportion of their resources in new industries and the infrastructure needed to support them. Many of the new industries have been light, simple and con¬sumer-oriented. But a significant number of LDC's, mostly the larger or richer ones, have established heavy, more complex capital-goods industries. Both sectors of industry have been largely domestic-oriented, although there are some LDC's which have succeeded in sharply increasing their industrial exports, mostly of light and simple products. The absence of export success may, in itself, cast a doubt on the effici¬ency and competitiveness of the new industries. The question has been raised in several quarters whether, in fact, the resources spent on industrialization have been well spent or whether the LDC's could have achieved more growth—in domestic product or export earnings—by a different design of industrialization or by more emphasis on other sectors. These questions are of special relevance for the newly-established capital-goods industries, because:

Introduction

2018 ◽  
Author(s):  
Telesca Giuseppe
Keyword(s):  
Structural Analysis ◽  
Institutional Change ◽  
Cultural Context ◽  
The Past ◽  
Final Goal ◽  
Social Structural ◽  
Country Analysis ◽  
Cross Country ◽  
Over Time

The ambition of this book is to combine different bodies of scholarship that in the past have been interested in (1) providing social/structural analysis of financial elites, (2) measuring their influence, or (3) exploring their degree of persistence/circulation. The final goal of the volume is to investigate the adjustment of financial elites to institutional change, and to assess financial elites’ contribution to institutional change. To reach this goal, the nine chapters of the book introduced here look at financial elites’ role in different European societies and markets over time, and provide historical comparisons and country and cross-country analysis of their adaptation and contribution to the transformation of the national and international regulatory/cultural context in the wake of a crisis or in a longer term perspective.

scholarly journals One Year of the COVID-19 Pandemic in Galicia: A Global View of Age-Group Statistics during Three Waves

2021 ◽  
Vol 18 (10) ◽  
pp. 5104
Author(s):  
Iván Area ◽  
Henrique Lorenzo ◽  
Pedro J. Marcos ◽  
Juan J. Nieto
Keyword(s):  
Intensive Care Unit ◽  
Hospital Admissions ◽  
Age Groups ◽  
Age Group ◽  
Nw Spain ◽  
The Past ◽  
Global View ◽  
Time Period ◽  
Key Variables ◽  
One Year

In this work we look at the past in order to analyze four key variables after one year of the COVID-19 pandemic in Galicia (NW Spain): new infected, hospital admissions, intensive care unit admissions and deceased. The analysis is presented by age group, comparing at each stage the percentage of the corresponding group with its representation in the society. The time period analyzed covers 1 March 2020 to 1 April 2021, and includes the influence of the B.1.1.7 lineage of COVID-19 which in April 2021 was behind 90% of new cases in Galicia. It is numerically shown how the pandemic affects the age groups 80+, 70+ and 60+, and therefore we give information about how the vaccination process could be scheduled and hints at why the pandemic had different effects in different territories.

scholarly journals Metaphors of migration over time

2021 ◽  
pp. 095792652199215
Author(s):  
Charlotte Taylor
Keyword(s):  
Emigration And Immigration ◽  
Emigrants And Immigrants ◽  
Economic Resource ◽  
Historical Discourse ◽  
Continuity And Change ◽  
The Past ◽  
Perception Of Control ◽  
Time Period ◽  
Metaphor Use ◽  
The Uk

This paper aims to cast light on contemporary migration rhetoric by integrating historical discourse analysis. I focus on continuity and change in conventionalised metaphorical framings of emigration and immigration in the UK-based Times newspaper from 1800 to 2018. The findings show that some metaphors persist throughout the 200-year time period (liquid, object), some are more recent in conventionalised form (animals, invader, weight) while others dropped out of conventionalised use before returning (commodity, guest). Furthermore, we see that the spread of metaphor use goes beyond correlation with migrant naming choices with both emigrants and immigrants occupying similar metaphorical frames historically. However, the analysis also shows that continuity in metaphor use cannot be assumed to correspond to stasis in framing and evaluation as the liquid metaphor is shown to have been more favourable in the past. A dominant frame throughout the period is migrants as an economic resource and the evaluation is determined by the speaker’s perception of control of this resource.

scholarly journals EXPLORING CROSS-COUNTRY VARIATION IN GOVERNMENT SHARES: WHAT CAN WE LEARN FROM RELATIVE PRODUCTIVITIES?

2012 ◽  
Vol 17 (2) ◽  
pp. 356-372 ◽  
Author(s):  
Maksym Obrizan
Keyword(s):  
Relative Price ◽  
Total Output ◽  
Government Consumption ◽  
Strong Negative Correlation ◽  
Empirical Observation ◽  
Relative Prices ◽  
Neoclassical Growth Model ◽  
Poor Countries ◽  
Cross Country ◽  
Neoclassical Growth

Government shares in total output are characterized by significant variation across countries. I noticed a strong negative correlation between government consumption shares and the price of government services in terms of private consumption. Motivated by this empirical observation, I developed a neoclassical growth model with added government that is capable of matching the variation in government shares very closely using only relative prices. In addition, I provide empirical evidence showing that the relative price of government consumption increases with income, which is consistent with distortions prevailing in poor countries. These two observations combined imply that government shares tend to be higher in poorer countries.

Sign in / Sign up

Export Citation Format

Share Document