| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5654 |
| DP5654 Democratic Capital: The Nexus of Political and Economic Change | |
| Torsten Persson; Guido Tabellini | |
| 发表日期 | 2006-05-02 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | We examine the view that high-quality macroeconomic policy is a necessary, but not sufficient, condition for economic growth. We first construct a new index of the quality of macroeconomic policy. We then directly compare growth rate distributions across countries with good and bad policies; use Bayesian methods to examine the partial correlation between policy and growth; and outline how growth and steady-state income levels might have differed, had all countries achieved good policy outcomes. One finding is that bad macroeconomic policies can be offset by other factors, but the fastest-growing countries in our sample all shared high-quality macroeconomic management. |
| 主题 | International Macroeconomics |
| 关键词 | Macroeconomic policy Economic growth Washington consensus Bayesian model averaging Counterfactuals |
| URL | https://cepr.org/publications/dp5654 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534507 |
| 推荐引用方式 GB/T 7714 | Torsten Persson,Guido Tabellini. DP5654 Democratic Capital: The Nexus of Political and Economic Change. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
