This book addresses several gaps in knowledge of aid allocation and effectiveness and provides new analytical insights. Topics covered include the interface between aid allocation and perceptions of aid effectiveness, the year-on-year volatility of aid and evaluation of the country-level impacts of aid.
Alfred Maizels' work on commodity trade and prices documented trends in a major area of international economic relations. This book elaborates the ideas in the tradition of Maizels' contributons, and discusses and extends these theories in relation to current problems.
The collapse in commodity prices since 1980 has been a major cause of the economic crisis in a large part of the Third World. This book demonstrates, using new econometric models, that the producing countries could have prevented this price collapse by appropriate supply management.
The primary purpose in this book is to present an integrated and innovative methodological approach for the construction and selection of equity portfolios. The approach takes into account the inherent multidimensional nature of the problem, while allowing the decision makers to incorporate specified preferences in the decision processes. A fundamental principle of modern portfolio theory is that comparisons between portfolios are generally made using two criteria; the expected return and portfolio variance. According to most of the portfolio models derived from the stochastic dominance approach, the group of portfolios open to comparisons is divided into two parts: the efficient portfolios, and the dominated. This work integrates the two approaches providing a unified model for decision making in portfolio management with multiple criteria.
This book explores country case studies and works that detail the exact transmission mechanisms through which financial development can enhance pro-poor development in order to derive best practices in this field. This is an important companion for professionals and policymakers, and also a vital reference source for students.
Something has gone seriously wrong with the American economy. The American economy has experienced considerable growth in the last 30 years. But virtually none of this growth has trickled down to the average American. Incomes have been flat since 1985. Inequality has grown, and social mobility has dropped dramatically. Equally troubling, these policies have been devastating to both American productivity and our long-term competitiveness. Many reasons for these failures have been proposed. Globalization. Union greed. Outsourcing. But none of these explanations can address the harsh truth that many countries around the world are dramatically outperforming the U.S. in delivering broad middle-class prosperity. And this is despite the fact that these countries are more exposed than America to outsourcing and globalization and have much higher levels of union membership. In What Went Wrong, George R. Tyler, a veteran of the World Bank and the Treasury Department, takes the reader through an objective and data-rich examination of the American experience over the last 30 years. He provides a fascinating comparison between the America and the experience of the “family capitalism" countries: Australia, Austria, Belgium, Denmark, France, Germany, the Netherlands, and Sweden. Over the last 30 years, they have outperformed the U.S. economy by the only metric that really matters—delivering better lives for their citizens. The policies adopted by the family capitalist countries aren't socialist or foreign. They are the same policies that made the U.S. economy of the 1950s and 1960s the strongest in the world. What Went Wrong describes exactly what went wrong with the American economy, how countries around the world have avoided these problems, and what we need to do to get back on the right track.
What Went Wrong: The Big Picture provides an overview of the in-depth analysis of the full book What Went Wrong. Something has gone seriously wrong: The American economy has experienced considerable growth in the last 30 years, but virtually none of this growth has trickled down to the average American. Incomes have been flat since 1985. Inequality has grown, and social mobility has dropped dramatically. Equally troubling, these policies have been devastating to both American productivity and our long-term competitiveness. Many reasons for these failures have been proposed. Globalization. Union greed. Outsourcing. But none of these explanations can address the harsh truth that many countries around the world are dramatically outperforming the U.S. in delivering broad middle-class prosperity. And this is despite the fact that these countries are more exposed than America to outsourcing and globalization and have much higher levels of union membership. In What Went Wrong: The Big Picture, George R. Tyler, a veteran of the World Bank and the Treasury Department, takes the reader through an objective and data-rich examination of the American experience over the last 30 years. He provides a fascinating comparison between the America and the experience of the "family capitalism" countries: Australia, Austria, Belgium, Denmark, France, Germany, the Netherlands, and Sweden. Over the last 30 years, they have outperformed the U.S. economy by the only metric that really matters—delivering better lives for their citizens. The policies adopted by the family capitalist countries aren't socialist or foreign. They are the same policies that made the U.S. economy of the 1950s and 1960s the strongest in the world. What Went Wrong: The Big Picture describes exactly what went wrong with the American economy, how countries around the world have avoided these problems, and what we need to do to get back on the right track.
This book explores country case studies and works that detail the exact transmission mechanisms through which financial development can enhance pro-poor development in order to derive best practices in this field. This is an important companion for professionals and policymakers, and also a vital reference source for students.
The primary purpose in this book is to present an integrated and innovative methodological approach for the construction and selection of equity portfolios. The approach takes into account the inherent multidimensional nature of the problem, while allowing the decision makers to incorporate specified preferences in the decision processes. A fundamental principle of modern portfolio theory is that comparisons between portfolios are generally made using two criteria; the expected return and portfolio variance. According to most of the portfolio models derived from the stochastic dominance approach, the group of portfolios open to comparisons is divided into two parts: the efficient portfolios, and the dominated. This work integrates the two approaches providing a unified model for decision making in portfolio management with multiple criteria.
The collapse in commodity prices since 1980 has been a major cause of the economic crisis in a large part of the Third World. This book demonstrates, using new econometric models, that the producing countries could have prevented this price collapse by appropriate supply management.
We investigate domestic private investment behaviour in a panel of 24 low-income and middle-income countries spanning a period of 1981-2000. The paper rigorously addresses (i) the cross-country heterogeneity in private investment behaviour, and (ii) endogeneity. Indicators of financial sector development and other standard macroeconomic determinants of private investment appear significant in explaining private investment behaviour in out sample; however, the estimated parameters and adjustment dynamics exhibit important cross-country differences. The empirical findings of the paper have important implications namely that first, cross-country heterogeneity needs to be addressed while modelling the private investment behaviour, and second, at the policy level, the country-specific approach appears potentially more effective than the one-size-fits-all approach for boosting private investment"--Abstract.
We consider an overlapping generations model with two production factors and two types of agents in the presence of financial intermediation and its application to the Russian default of August 1998. The paper focuses on the analysis of the consequences of a sudden negative repayments shock on financial intermediation capacity and consequently on the economy as a whole. The model exhibits a 'chain reaction" property, when a single macroeconomic shock can lead to the exhaustion of credit resources and to the subsequent collapse of the whole banking system. To maintain the capability of the system to recover, regulatory intervention is needed even in the presence of the state guarantees on agents' deposits in the banks (workout incentives). We compare the results for an intermediated economy with those derived under the assumption of a market economy, and draw some broad conclusions on the consequences of the crises, which are contingent on the financial sector structure. -- Abstract.
This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
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