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来源类型 | Fellow & Graduate Student Working Papers |
规范类型 | 工作论文 |
来源ID | CID Research Fellow & Graduate Student Working Paper No. 91 |
Growth Accelerations Strategies | |
Michele Peruzzi; Alessio Terzi | |
发表日期 | 2018-04 |
出版年 | 2018 |
摘要 | Setting a country’s structural growth rate on a higher path, i.e. sparking and sustaining a growth acceleration can have quantitatively huge implications for national income and, more broadly, for people’s wellbeing. We develop a novel statistical framework to identify systematically the set of binding constraints that were unlocked before the 135 growth acceleration episodes that took place between 1962 and 2002 worldwide. We employ this information to characterise the acceleration process, which tends to be preceded by a deep recession and major economic policy changes. Once we combined this information with a set of counterfactual analyses, we find however that successful acceleration strategies should not contain off-the-shelf approaches or necessarily all-encompassing “shock therapy” solutions. On the other hand, they call for a careful tailoring to local conditions. Richer countries tend to experience fewer accelerations, but once these have been ignited, they are better positioned to make the most out of them. Despite standard growth determinants doing a fairly good job at characterising successful accelerations, we note how take-offs remain extremely hard to engineer with a high degree of certainty. |
关键词 | Economic Growth Growth Accelerations |
URL | https://www.hks.harvard.edu/centers/cid/publications/fellow-graduate-student-working-papers/growth-accelerations-strategies |
来源智库 | Center for International Development (United States) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/503330 |
推荐引用方式 GB/T 7714 | Michele Peruzzi,Alessio Terzi. Growth Accelerations Strategies. 2018. |
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