Reallocation from low productivity to high productivity sectors was not very important


Download 525 b.
Sana22.03.2017
Hajmi525 b.

























Reallocation from low productivity to high productivity sectors was not very important

  • Reallocation from low productivity to high productivity sectors was not very important

  • Within-sector more consistent with some external force that drives labor productivity up in all economic sectors





Stock of capital adjusted by utilization

  • Stock of capital adjusted by utilization

  • Labor adjusted by number of hours worked

  • Country risk as separate variable

  • Terms of trade (Kehoe and Ruhl, 2007; Becker and Mauro, 2003; Edwards, 2007; Cavalcanti Ferreira et al (2010)

    • Gain is similar to technological improvement


We can estimate how much the gain in terms of trade contributed to growth in 2003-2009

  • We can estimate how much the gain in terms of trade contributed to growth in 2003-2009

    • One third when informal employment is included
    • 73% in our best estimate that takes into account lagged effects.


Good luck made a substantial contribution to Argentina’s growth since 2003

  • Good luck made a substantial contribution to Argentina’s growth since 2003

  • Fiscal challenges that were a key factor behind Argentina’s dismal performance in the past are not such a big challenge (low debt, moderate deficit). But filling the gap with taxes will be costly given the already high tax rates on formal activities

  • Evidence points to the need to improve the quality of micro policies and the investment climate … or to bet for permanent luck




Download 525 b.

Do'stlaringiz bilan baham:




Ma'lumotlar bazasi mualliflik huquqi bilan himoyalangan ©fayllar.org 2020
ma'muriyatiga murojaat qiling