Macroeconomic Stability and the Distribution of Growth Rates

Sirimaneetham, Vatcharin; Temple, Jonathan R.W.

dc.creator	Sirimaneetham, Vatcharin
dc.creator	Temple, Jonathan R.W.
dc.date	2012-03-30T07:12:38Z
dc.date	2012-03-30T07:12:38Z
dc.date	2009-11-30
dc.date.accessioned	2023-02-18T19:41:39Z
dc.date.available	2023-02-18T19:41:39Z
dc.identifier	World Bank Economic Review
dc.identifier	1564-698X
dc.identifier	http://hdl.handle.net/10986/4510
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/249995
dc.description	It is often argued that macroeconomic instability can form a binding constraint on economic growth. Drawing on a new index of stability, threshold estimation is used to divide developing economies into two growth regimes, depending on a threshold level of stability. For the more stable group of countries, the output benefits of investment are greater, conditional convergence is faster, and measures of institutional quality have more explanatory power, suggesting that instability forms a binding constraint for the less stable group. Macroeconomic stability is also shown to dominate several other candidates for identifying distinct growth regimes.
dc.publisher	World Bank
dc.rights	CC BY-NC-ND 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.rights	World Bank
dc.subject	economic development
dc.subject	economic growth
dc.subject	economics
dc.subject	empirical growth literature
dc.subject	empirical models
dc.subject	growth determinants
dc.subject	growth performance
dc.subject	growth rate
dc.subject	growth rates
dc.subject	investment rate
dc.subject	long-run growth
dc.subject	macroeconomic instability
dc.subject	macroeconomic outcomes
dc.subject	macroeconomic policies
dc.subject	macroeconomic policy
dc.subject	macroeconomic stability
dc.subject	policy analysis
dc.subject	poverty reduction
dc.subject	rapid growth
dc.subject	standard growth determinants
dc.title	Macroeconomic Stability and the Distribution of Growth Rates
dc.type	Journal Article
dc.type	Journal Article
dc.coverage	Slovak Republic