| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15225 |
| 来源ID | Working Paper 15225 |
| Risk, Volatility, and the Global Cross-Section of Growth Rates | |
| Craig Burnside; Alexandra Tabova | |
| 发表日期 | 2009-08-13 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | We reconsider the empirical links between volatility and growth between 1970 and 2007. There is a strong and significant correlation between individual country growth rates and global factors that are arguably exogenous with respect to their economies. The amount of volatility driven by these external factors is highly correlated, cross-sectionally, with the overall amount of volatility in GDP growth. There is also a strong correlation between a country's average growth rate and the magnitude and sign of its exposure to global factors. We interpret our findings as a partial answer to the question "Why doesn't capital flow from rich to poor countries?" We argue that low-income countries that grow slowly are riskier from the perspective of the marginal international investor. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates ; International Economics ; International Factor Mobility ; International Macroeconomics ; Development and Growth ; Growth and Productivity |
| URL | https://www.nber.org/papers/w15225 |
| 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/572901 |
| 推荐引用方式 GB/T 7714 | Craig Burnside,Alexandra Tabova. Risk, Volatility, and the Global Cross-Section of Growth Rates. 2009. |
| 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 | ||
| w15225.pdf（592KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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