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Transitioning from low-income growth to high-income growth : is there a middle income trap ? (English)

Is there a quot;middle income trapquot;? Theory suggests that the determinants of growth at low and high income levels may be different. If countries struggle to transition from growth strategies that are effective at low income levels to growth strategies that are effective at high income levels, they may stagnate at some middle income level; this phenomenon can be thought of as a quot;middle income trap.quot; This paper does not find evidence for (unusual) stagnation at any particular middle income level. ... See More +

Policy Research Working Paper WPS7104 NOV 01, 2014

Bulman, David; Eden, Maya; Nguyen, Ha

Infrastructure, growth, and inequality : an overview (English)

Academics and policy makers have long considered an adequate supply of infrastructure services to be essential for economic development. This paper reviews recent theoretical and empirical literature on the effects of infrastructure development on growth and income distribution. ... See More +

Policy Research Working Paper WPS7034 SEP 01, 2014

Calderon, Cesar; Serven, Luis

Fiscal multipliers in recessions and expansions : does it matter whether government spending is increasing or decreasing ? (English)

Using non-linear methods, this paper finds that existing estimates of government spending multipliers in expansion and recession may yield biased results by ignoring whether government spending is increasing or decreasing. ... See More +

Policy Research Working Paper WPS6993 JUL 01, 2014

Riera-Crichton, Daniel; Vegh, Carlos A.; Vuletin, Guillermo

Institutions and firmsapos; return to innovation : evidence from the world bank enterprise survey (English)

This paper poses a question: do firms in developing countries not innovate because they are unwilling to? The question moves away from the conventional focus on the obstacles (such as the lack of access to finance) that hinder firmsapos; innovation ability. ... See More +

Policy Research Working Paper WPS6918 JUN 01, 2014

Nguyen, Ha; Jaramillo, Patricio A.

Do poverty traps exist ? (English)

This paper reviews the empirical evidence on the existence of poverty traps, understood as self-reinforcing mechanisms through which poor individuals or countries remain poor. ... See More +

Policy Research Working Paper WPS6835 APR 01, 2014

Kraay, Aart; McKenzie, David

Growth, inequality, and social welfare : cross-country evidence (English)

Social welfare functions that assign weights to individuals based on their income levels can be used to document the relative importance of growth and inequality changes for changes in social welfare. ... See More +

Policy Research Working Paper WPS6842 APR 01, 2014

Dollar, David; Kleineberg, Tatjana; Kraay, Aart

Why donapos;t poor countries do R;D ? (English)

Using a global panel on research and development (R;D) expenditures, this paper documents that on average poor countries do far less R;D than rich as a share of GDP. ... See More +

Policy Research Working Paper WPS6811 MAR 01, 2014

Goni, Edwin; Maloney, William F.

quot;Crowding inquot; and the returns to government investment in low-income countries (English)

This paper estimates the effect of government investment on private investment in a sample of 39 low-income countries. Fluctuations in a predetermined component of disbursements on loans from official creditors to developing country governments are used as an instrument for fluctuations in public investment. ... See More +

Policy Research Working Paper WPS6781 FEB 01, 2014

Eden, Maya; Kraay, Aart

Growth still is good for the poor (English)

Incomes in the poorest two quintiles on average increase at the same rate as overall average incomes. This is because, in a global dataset spanning 118 countries over the past four decades, changes in the share of income of the poorest quintiles are generally small and uncorrelated with changes in average income. ... See More +

Policy Research Working Paper WPS6568 AUG 01, 2013

Dollar, David; Kleineberg, Tatjana; Kraay, Aart

Saving and growth in Sri Lanka (English)

In the aftermath of its long-standing civil war, Sri Lanka is keen to reap the social and economic benefits of peace. Even in the middle of civil conflict, the country was able to grow at rates that surpassed those of its neighbors and most developing countries. ... See More +

Policy Research Working Paper WPS6300 JAN 01, 2013

Hevia, Constantino; Loayza, Norman

Productivity and the welfare of nations (English)

This paper shows that the welfare of a countryapos;s representative consumer can be measured using just two variables: current and future total factor productivity and the capital stock per capita. ... See More +

Policy Research Working Paper WPS6026 APR 01, 2012

Basu, Susanto; Pascali, Luigi; Schiantarelli, Fabio; Serven, Luis

Do middle classes bring institutional reforms ? (English)

The paper examines the link between poverty, the middle class and institutional outcomes using a new cross-country panel dataset on the distribution of income and expenditure. ... See More +

Policy Research Working Paper WPS6015 MAR 01, 2012

Loayza, Norman; Rigolini, Jamele; Llorente, Gonzalo

Is infrastructure capital productive ? a dynamic heterogeneous approach (English)

This paper offers an empirical evaluation of the output contribution of infrastructure. Drawing from a large data set on infrastructure stocks covering 88 countries and spanning the years 1960-2000, and using a panel time-series approach, the paper estimates a long-run aggregate production function relating GDP to human capital, physical capital, and a synthetic measure of infrastructure given by the first principal component of infrastructure endowments in transport, power, and telecommunications. ... See More +

Policy Research Working Paper WPS5682 JUN 01, 2011

Calderon, Cesar; Moral-Benito, Enrique; Serven, Luis

Fiscal policy and debt dynamics in developing countries (English)

Using a new tax database for 28 countries and a variety of econometric methods, this paper contributes to the debate on the effects of fiscal policy on economic activity in a number of ways. ... See More +

Policy Research Working Paper WPS5666 MAY 01, 2011

Ilzetzki, Ethan

How large is the government spending multiplier ? evidence from World Bank lending (English)

This paper proposes a novel method of isolating fluctuations in public spending that are likely to be uncorrelated with contemporaneous macroeconomic shocks and can be used to estimate government spending multipliers. ... See More +

Policy Research Working Paper WPS5500 DEC 01, 2010

Kraay, Aart

Undervaluation through foreign reserve accumulation : static losses, dynamic gains (English)

This paper shows that real exchange rate undervaluation through the accumulation of foreign reserves may improve welfare in economies with learning-by-investing externalities that arise disproportionately from the tradable sector. ... See More +

Policy Research Working Paper WPS5250 MAR 01, 2010

Korinek, Anton; Serven, Luis

Medium-term business cycles in developing countries (English)

Empirical evidence - including the current global crisis - suggests that shocks from advanced countries often have a disproportionate effect on developing economies. ... See More +

Policy Research Working Paper WPS5146 DEC 01, 2009

Comin, Diego; Loayza, Norman; Pasha, Farooq; Serven, Luis

Too poor to grow (English)

Recent theoretical literature has suggested a variety of mechanisms through which poverty may deter growth and become self-perpetuating. A few papers have searched for empirical regularities consistent with those mechanisms – such as aggregate non-convexities and convergence clubs. ... See More +

Policy Research Working Paper WPS5012 AUG 01, 2009

Lopez, Humberto; Serven, Luis

Informality in Latin America and the Caribbean (English)

This paper studies the causes and consequences of informality and applies the analysis to countries in Latin America and the Caribbean. It starts with a discussion on the definition and measures of informality, as well as on the reasons why widespread informality should be of great concern. ... See More +

Policy Research Working Paper WPS4888 MAR 01, 2009

Loayza, Norman V.; Serven, Luis; Sugawara, Naotaka

Determinants of economic growth : a bayesian panel data approach (English)

Model uncertainty hampers consensus on the key determinants of economic growth. Some recent cross-country, cross-sectional analyses have employed Bayesian Model Averaging to address the issue of model uncertainty. ... See More +

Policy Research Working Paper WPS4830 FEB 01, 2009

Moral-Benito, Enrique

Title Document Date Report No. Document Type Also available in
Transitioning from low-income growth to high-income growth : is there a middle income trap ? (English)
See More +
NOV 01, 2014 WPS7104 Policy Research Working Paper
Infrastructure, growth, and inequality : an overview (English)
See More +
SEP 01, 2014 WPS7034 Policy Research Working Paper
Fiscal multipliers in recessions and expansions : does it matter whether government spending is increasing or decreasing ? (English)
See More +
JUL 01, 2014 WPS6993 Policy Research Working Paper
Institutions and firmsapos; return to innovation : evidence from the world bank enterprise survey (English)
See More +
JUN 01, 2014 WPS6918 Policy Research Working Paper
Do poverty traps exist ? (English)
See More +
APR 01, 2014 WPS6835 Policy Research Working Paper
Growth, inequality, and social welfare : cross-country evidence (English)
See More +
APR 01, 2014 WPS6842 Policy Research Working Paper
Why donapos;t poor countries do R;D ? (English)
See More +
MAR 01, 2014 WPS6811 Policy Research Working Paper
quot;Crowding inquot; and the returns to government investment in low-income countries (English)
See More +
FEB 01, 2014 WPS6781 Policy Research Working Paper
Growth still is good for the poor (English)
See More +
AUG 01, 2013 WPS6568 Policy Research Working Paper
Saving and growth in Sri Lanka (English)
See More +
JAN 01, 2013 WPS6300 Policy Research Working Paper
Productivity and the welfare of nations (English)
See More +
APR 01, 2012 WPS6026 Policy Research Working Paper
Do middle classes bring institutional reforms ? (English)
See More +
MAR 01, 2012 WPS6015 Policy Research Working Paper
Is infrastructure capital productive ? a dynamic heterogeneous approach (English)
See More +
JUN 01, 2011 WPS5682 Policy Research Working Paper
Fiscal policy and debt dynamics in developing countries (English)
See More +
MAY 01, 2011 WPS5666 Policy Research Working Paper
How large is the government spending multiplier ? evidence from World Bank lending (English)
See More +
DEC 01, 2010 WPS5500 Policy Research Working Paper
Undervaluation through foreign reserve accumulation : static losses, dynamic gains (English)
See More +
MAR 01, 2010 WPS5250 Policy Research Working Paper
Medium-term business cycles in developing countries (English)
See More +
DEC 01, 2009 WPS5146 Policy Research Working Paper
Too poor to grow (English)
See More +
AUG 01, 2009 WPS5012 Policy Research Working Paper
Informality in Latin America and the Caribbean (English)
See More +
MAR 01, 2009 WPS4888 Policy Research Working Paper
Determinants of economic growth : a bayesian panel data approach (English)
See More +
FEB 01, 2009 WPS4830 Policy Research Working Paper