The effects of volatility, fiscal policy cyclicality and financial development on growth : evidence for the Eastern Caribbean (English)

This paper presents estimates of the effects that terms of trade volatility has on growth of real gross domestic product per capita. Based on five-year non-overlapping panel data comprising 175 countries during 1980–2010, the paper finds that: (i) in model specifications that do not include country fixed effects, terms of trade volatility has a significant negative average effect on economic growth; (ii) once country fixed effects are included in...

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Author

Brüeckner,Markus;

Carneiro,Francisco Galrao;
Document Date
2015/12/03
Document Type
Policy Research Working Paper
Report Number
WPS7507
Volume No
1
Total Volume(s)
1
Country
Caribbean,
Region
Latin America and Caribbean,
Disclosure Date
2015/12/03
Disclosure Status
Disclosed
Doc Name
The effects of volatility, fiscal policy cyclicality and financial development on growth : evidence for the Eastern Caribbean
Keywords
terms of trade volatility

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Citation

Brüeckner,Markus; Carneiro,Francisco Galrao.

The effects of volatility, fiscal policy cyclicality and financial development on growth : evidence for the Eastern Caribbean (English). Policy Research working paper|no. WPS 7507 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/671191467997249026

The effects of volatility, fiscal policy cyclicality and financial development on growth : evidence for the Eastern Caribbean (English)

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