A Tale Of Two Sectors
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Finance And Development A Tale Of Two Sectors
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Author : Francisco J. Buera
language : en
Publisher:
Release Date : 2009
Finance And Development A Tale Of Two Sectors written by Francisco J. Buera and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Finance categories.
Income differences across countries primarily reflect differences in total factor productivity (TFP). More disaggregated data show that the TFP gap between rich and poor countries varies systematically across industrial sectors of the economy: Poor countries are particularly unproductive in tradable and investment goods sectors. In this paper, we develop a quantitatively-oriented framework to explain such cross-country patterns in aggregate and sectoral TFP. We start by documenting that an important distinction between sectors is their average establishment size. For example, establishments in tradable and investment goods sectors operate at much larger scales than those in the non-tradable sector. In our model, sectors with larger scales of operation have more financing needs, and are hence disproportionately affected by financial frictions. Our quantitative exercises show that financial frictions account for a substantial part of the observed cross-country patterns in TFP, both at the aggregate and at the sectoral level. Our model also has novel implications for the impact of financial frictions on the relative scale between the tradable and the non-tradable sectors, which are shown to be consistent with the data.
A Tale Of Two Sectors
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Author : Daniel A Dias
language : en
Publisher: International Monetary Fund
Release Date : 2016-11-15
A Tale Of Two Sectors written by Daniel A Dias and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-15 with Business & Economics categories.
Recent empirical studies document that the level of resource misallocation in the service sector is significantly higher than in the manufacturing sector. We quantify the importance of this difference and study its sources. Conservative estimates for Portugal (2008) show that closing this gap, by reducing misallocation in the service sector to manufacturing levels, would boost aggregate gross output by around 12 percent and aggregate value added by around 31 percent. Differences in the effect and size of productivity shocks explain most of the gap in misallocation between manufacturing and services, while the remainder is explained by differences in firm productivity and age distribution. We interpret these results as stemming mainly from higher output price rigidity, greater labor adjustment costs and more informality in the service sector.
A Tale Of Two Sectors
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Author : Daniel A Dias
language : en
Publisher: International Monetary Fund
Release Date : 2016-11-15
A Tale Of Two Sectors written by Daniel A Dias and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-15 with Business & Economics categories.
Recent empirical studies document that the level of resource misallocation in the service sector is significantly higher than in the manufacturing sector. We quantify the importance of this difference and study its sources. Conservative estimates for Portugal (2008) show that closing this gap, by reducing misallocation in the service sector to manufacturing levels, would boost aggregate gross output by around 12 percent and aggregate value added by around 31 percent. Differences in the effect and size of productivity shocks explain most of the gap in misallocation between manufacturing and services, while the remainder is explained by differences in firm productivity and age distribution. We interpret these results as stemming mainly from higher output price rigidity, greater labor adjustment costs and more informality in the service sector.
Explaining Asean 3 S Investment Puzzle A Tale Of Two Sectors
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Author : Yong Sarah Zhou
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-14
Explaining Asean 3 S Investment Puzzle A Tale Of Two Sectors written by Yong Sarah Zhou and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-14 with Business & Economics categories.
The prolonged investment decline in post-Asian crisis emerging Asia, in contrast to the swift recovery of economic growth, has remained a puzzle. This paper shows that the post-crisis investment recession has been mainly concentrated in the nontradable sector, and hypothesizes that the slowdown is because firms operating in that sector are financially constrained. Empirical results based on macro and firm-level data from Indonesia, Malaysia, and Thailand (ASEAN-3) support this hypothesis.
A Tale Of Two Sectors
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Author : Urjit R. Patel
language : en
Publisher:
Release Date : 1992
A Tale Of Two Sectors written by Urjit R. Patel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with India categories.
Technical Change And Economic Reform In China
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Author : Nicholas R. Lardy
language : en
Publisher:
Release Date : 1987
Technical Change And Economic Reform In China written by Nicholas R. Lardy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with categories.
Finland
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Author : Adrian Cooper
language : en
Publisher:
Release Date : 1993
Finland written by Adrian Cooper and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Finland categories.
A Tale Of Two Sectors
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Author :
language : en
Publisher:
Release Date : 2002
A Tale Of Two Sectors written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Home ownership categories.
Criminal Justice In Ireland
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Author : Paul O'Mahony
language : en
Publisher: Institute of Public Administration
Release Date : 2002
Criminal Justice In Ireland written by Paul O'Mahony and has been published by Institute of Public Administration this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Law categories.
Comprehensive overview of the Irish criminal justice system, its current problems and its vision for the future. Collection of essays by major office-holders, experienced practitioners, leading academics, legal scholars, sociologists, psychologists, philosophers and educationalists.
China And India
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Author : Dilip K. Das
language : en
Publisher: Routledge
Release Date : 2007-01-24
China And India written by Dilip K. Das and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-24 with Business & Economics categories.
The economies of the People’s Republic of China and India are emerging-market economies, which account for more than a third of the global population. These two economies share many similarities in that they are large populous neighbours, who were regarded as abjectly poor countries until the 1980s and both are ancient cultures which has both advantages and disadvantages for economic development. However, their political systems are very different. While India is an open democratic society, China is a closed society run in an authoritarian manner by the Chinese Communist Party. This dissimilarity impacts on the economic decision making process in the two economies. This book is the first to systematically compare and contrast the two economies. It takes an objective and dispassionate view and delves into the constructive and favourable side as well as adverse and unfavourable side of the two economies. Written in a comprehensive and authoritative manner, it covers large areas of the two economies, including trade and financial sectors. It also includes other important relevant facets of the two economies.