| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w4565 |
| 来源ID | Working Paper 4565 |
| The Role of Macroeconomic Factors in Growth | |
| Stanley Fischer | |
| 发表日期 | 1993-12-01 |
| 出版年 | 1993 |
| 语种 | 英语 |
| 摘要 | Using a regression analog of growth accounting, I present cross- sectional and panel regressions showing that growth is negatively associated with inflation, large budget deficits, and distorted foreign exchange markets. Supplementary evidence suggests that the causation runs from macroeconomic policy to growth. The framework makes it possible to identify the channels of these effects: inflation reduces growth by reducing investment and productivity growth; budget deficits also reduce both capital accumulation and productivity growth. Examination of exceptional cases shows that while low inflation and small deficits are not necessary for high growth even over long periods, high inflation is not consistent with sustained growth. |
| 主题 | Macroeconomics ; Development and Growth ; Development |
| URL | https://www.nber.org/papers/w4565 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/561947 |
| 推荐引用方式 GB/T 7714 | Stanley Fischer. The Role of Macroeconomic Factors in Growth. 1993. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w4565.pdf（364KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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