G2TT
来源类型Fellow & Graduate Student Working Papers
规范类型工作论文
来源IDCID 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
URLhttps://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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