"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...

Full description

Bibliographic Details

Main Author:	Raddatz, Claudio E. 1973- (Author)
Format:	Electronic eBook
Language:	English
Published:	[Washington, D.C] World Bank 2005
Series:	Policy research working paper 3680
Subjects:	Entwicklungsländer Business cycles > Developing countries Industrial productivity > Developing countries
Online Access:	Volltext
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
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)