Macroeconomic Stability and the Distribution of Growth Rates

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 coun...

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Bibliographic Details
Main Authors:	Sirimaneetham, Vatcharin, Temple, Jonathan R.W.
Format:	Journal Article
Published:	World Bank 2012
Subjects:	economic development economic growth economics empirical growth literature empirical models growth determinants growth performance growth rate growth rates investment rate long-run growth macroeconomic instability macroeconomic outcomes macroeconomic policies macroeconomic policy macroeconomic stability policy analysis poverty reduction rapid growth standard growth determinants
Online Access:	http://hdl.handle.net/10986/4510

id	okr-10986-4510
recordtype	oai_dc
spelling	okr-10986-45102021-04-23T14:02:18Z Macroeconomic Stability and the Distribution of Growth Rates Sirimaneetham, Vatcharin Temple, Jonathan R.W. economic development economic growth economics empirical growth literature empirical models growth determinants growth performance growth rate growth rates investment rate long-run growth macroeconomic instability macroeconomic outcomes macroeconomic policies macroeconomic policy macroeconomic stability policy analysis poverty reduction rapid growth standard growth determinants 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. 2012-03-30T07:12:38Z 2012-03-30T07:12:38Z 2009-11-30 Journal Article World Bank Economic Review 1564-698X http://hdl.handle.net/10986/4510 CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank World Bank Journal Article Slovak Republic
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
topic	economic development economic growth economics empirical growth literature empirical models growth determinants growth performance growth rate growth rates investment rate long-run growth macroeconomic instability macroeconomic outcomes macroeconomic policies macroeconomic policy macroeconomic stability policy analysis poverty reduction rapid growth standard growth determinants
spellingShingle	economic development economic growth economics empirical growth literature empirical models growth determinants growth performance growth rate growth rates investment rate long-run growth macroeconomic instability macroeconomic outcomes macroeconomic policies macroeconomic policy macroeconomic stability policy analysis poverty reduction rapid growth standard growth determinants Sirimaneetham, Vatcharin Temple, Jonathan R.W. Macroeconomic Stability and the Distribution of Growth Rates
geographic_facet	Slovak Republic
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.
format	Journal Article
author	Sirimaneetham, Vatcharin Temple, Jonathan R.W.
author_facet	Sirimaneetham, Vatcharin Temple, Jonathan R.W.
author_sort	Sirimaneetham, Vatcharin
title	Macroeconomic Stability and the Distribution of Growth Rates
title_short	Macroeconomic Stability and the Distribution of Growth Rates
title_full	Macroeconomic Stability and the Distribution of Growth Rates
title_fullStr	Macroeconomic Stability and the Distribution of Growth Rates
title_full_unstemmed	Macroeconomic Stability and the Distribution of Growth Rates
title_sort	macroeconomic stability and the distribution of growth rates
publisher	World Bank
publishDate	2012
url	http://hdl.handle.net/10986/4510
_version_	1764391680615645184

Macroeconomic Stability and the Distribution of Growth Rates

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