Are external shocks responsible for the instability of output in low income countries? / Claudio Raddatz
"External shocks, such as commodity price fluctuations, natural disasters, and the role of the international economy, are often blamed for the poor economic performance of low-income countries. The author quantifies the impact of these different external shocks using a panel vector autoregressi...
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| Main Authors: | Raddatz, Claudio E., 1973- |
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| Corporate Authors: | World Bank |
| Format: | Online-Resource |
| Language: | English |
| Published: | [Washington, D.C] : World Bank, 2005 |
| Series: | Policy research working paper
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| Subjects: | |
| Online Access: | URL des Erstveröffentlichers |
| Summary: | "External shocks, such as commodity price fluctuations, natural disasters, and the role of the international economy, are often blamed for the poor economic performance of low-income countries. The author quantifies the impact of these different external shocks using a panel vector autoregression (VAR) approach and compares their relative contributions to output volatility in low-income countries vis-�is internal factors. He finds that external shocks can only explain a small fraction of the output variance of a typical low-income country. Internal factors are the main source of fluctuations. From a quantitative perspective, the output effect of external shocks is typically small in absolute terms, but significant relative to the historic performance of these countries. "--World Bank web site |
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| Item Description: | Includes bibliographical references. - Title from PDF file as viewed on 9/1/2005 Erscheinungsjahr in Vorlageform:[2005] Weitere Ausgabe: Raddatz, Claudio E: Are external shocks responsible for the instability of output in low income countries? |
| Physical Description: | 1 Online-Ressource (52 Seiten) |
