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The Effects of Volatility, Fiscal Policy Cyclicality and Financial Development on Growth : Evidence for the Eastern Caribbean

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)...

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Bibliographic Details
Main Authors: Brüeckner, Markus, Carneiro, Francisco
Language:English
en_US
Published: World Bank, Washington, DC 2015
Subjects:
GROWTH RATES
OUTPUT VOLATILITY
MONETARY POLICY
CAPITAL MARKETS
DEPOSIT
FINANCIAL SERVICES
CAPITA INCOME
ECONOMIC GROWTH
SMALL ECONOMIES
EFFECTS OF VOLATILITY
ECONOMIC GROWTH RATES
AMERICAN ECONOMIC REVIEW
INTERNATIONAL COUNTRY RISK GUIDE
MONETARY ECONOMICS
EFFECT OF VOLATILITY ON GROWTH
FLOW OF FUNDS
COUNTRY FIXED EFFECTS
INCOME
INTEREST
ECONOMIC VOLATILITY
GOVERNMENT SPENDING
EXCHANGE
GROWTH VOLATILITY
LIQUIDITY
DEVELOPING COUNTRIES
POLITICAL ECONOMY
DEVELOPING ECONOMIES
FISCAL POLICY
LIQUIDITY RISK
WORLD DEVELOPMENT INDICATORS
CAUSAL EFFECT OF VOLATILITY ON GROWTH
INTERACTION TERMS
PRICE
TAX
FINANCIAL INTEGRATION
LONG-TERM INVESTMENT
DEVELOPED COUNTRIES
LINK BETWEEN VOLATILITY
BANK LENDING
ECONOMIC ACTIVITY
STANDARD DEVIATION
FISCAL POLICIES
GLOBAL ECONOMY
PER CAPITA INCOME
TRADE SHOCKS
MIDDLE INCOME
GROWTH EFFECT
PRICE VOLATILITY
CRISIS
POLITICAL POWER
INCREASE IN VOLATILITY
STANDARD ERRORS
NATURAL DISASTERS
EMERGING MARKET
LOW- INCOME COUNTRIES
DEBT
PRIVATE INVESTMENT
FISCAL CONSOLIDATION
DEPOSIT INSURANCE
OPEN ECONOMY
BUSINESS CYCLE
INCOME LEVELS
REVIEW OF ECONOMICS
FLUCTUATIONS
RECESSIONS
EXOGENOUS VOLATILITY
GROSS DOMESTIC PRODUCT
COMMODITY PRICE
TAX BASE VARIABILITY
TAXES
GROWTH EFFECTS
EMERGING MARKETS
POLICY UNCERTAINTY
CREDIT CONSTRAINTS
ECONOMIC PERFORMANCE
INTERNATIONAL TRADE
VOLATILITY
COUNTRY RISK
CREDIT CONSTRAINT
FINANCIAL CRISIS
FUTURE
MACROECONOMICS
OUTPUT GAP
INCOME DISTRIBUTION
CAPITAL FLOWS
PRIVATE SECTOR
SHARES
FINANCIAL SECTOR STABILITY
REAL EXCHANGE RATE
RAPID EXPANSION
EXCHANGE RATE REGIME
UNDERDEVELOPMENT
CAPITA GROWTH
SECURITIES
OUTPUT
DEMOCRACIES
INSTRUMENTAL VARIABLES
EXPOSURE
INSURANCE
BUSINESS CYCLES
ECONOMIC DEVELOPMENT
CYCLICAL FISCAL POLICY
INTERNATIONAL BEST PRACTICES
TRADE
PER CAPITA INCOME LEVELS
INTERNATIONAL MONETARY FUND
FINANCIAL DEVELOPMENT
FINANCIAL MARKET
GROWTH RATE
INVESTMENT
MACROECONOMIC VOLATILITY
DOMESTIC CREDIT
SHARE
GROWTH PERFORMANCE
BALANCE SHEETS
FINANCIAL MARKETS
IMPACT OF VOLATILITY
BANKING
INTERACTION TERM
EXTERNAL SHOCKS
LESS DEVELOPED ECONOMIES
EFFECT OF VOLATILITY
MACROECONOMIC POLICIES
EXCHANGE RATE
ECONOMIC SHOCKS
FINANCIAL SECTOR
OPEN ECONOMIES
COMMODITY
ADVERSE EFFECTS
GROWTH
Online Access:http://documents.worldbank.org/curated/en/2015/12/25517482/effects-volatility-fiscal-policy-cyclicality-financial-development-growth-evidence-eastern-caribbean
http://hdl.handle.net/10986/23470

Internet

http://documents.worldbank.org/curated/en/2015/12/25517482/effects-volatility-fiscal-policy-cyclicality-financial-development-growth-evidence-eastern-caribbean
http://hdl.handle.net/10986/23470

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