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E20

Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)

Credit market heterogeneity, balance sheet (in) dependence, financial shocks

Chris Garbers and Guangling Liu
This paper presents a real business cycle model with financial frictions and two credit markets to investigate the qualitative and quantitative relevance of credit market heterogeneity. To address this line of inquiry we contrast the transmission of financial shocks in an economy where loans are...
Sep 2016
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What explains the recent growth performance in Sub-Saharan Africa? Results from a Bayesian Averaging of Classical Estimates (BACE) Approach

Beatrice D. Simo-Kengne
This paper empirically identifies the main driving forces behind the recent development in economic growth across Sub-Saharan Africa based on a two-step procedure. Given the role of convergence in explaining the level of economic development, the first step employs the new extension of the sigma...
Feb 2016
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Economic Growth and Inequality: Evidence from the Young Democracies of South America

Manoel Bittencourt
We investigate in this paper whether income growth has played any role on inequality in all nine young South American democracies during 1970-2007. The results, based on dynamic panel time-series analysis, suggest that income growth has played a progressive role in reducing inequality during the...
Jul 2013
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Social capital as an engine of growth: Multisectoral modelling and implications

Youyou Baende Bofota, Raouf Boucekkine and Alain Pholo Bala
We propose a multisector endogenous growth model incorporating social capital. Social capital only serves as an input in the production of human capital and it involves a cost in terms of the final good. We show that in contrast to existing alternative specifications, this setting assures that...
Oct 2012
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The Exchange Rate, Dutch Disease and Manufacturing in South Africa: What do the Data Say?

Duncan Hodge
The Dutch disease argument suggests that in commodity exporting countries "overvaluation" of the currency due to increases in commodity prices harms manufacturing even though the economy as a whole benefits, led by the booming natural resources sector. The relationship between the real exchange...
May 2012
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