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"Wirtschaftswachstum."
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The challenges hampering South African economic growth integration process in the sub-region
The study aims to assess the issues and challenges hampering policy implementation in the Southern African region for economic growth. Qualitatively, this paper collected data and analysed them based on content, using secondary sources from different domains, including Google Scholar, and Scorpius repositories. Findings demonstrate that the design and structure of the African regional development within the integration schemes is around inward-looking industrialization intended to facilitate economic participation costs for member states. This often remains unevenly distributed among member states. Most countries in Africa linger highly reliant on agriculture and yet suffer from high levels of unemployment and food insecurity on the continent. The study contributes to the existing debate on regional and economic integration in the Southern African sub-regional for social-economic development with the adoption of ethical value leadership and accountability. In these situations, it is logical to expect the “African regional integration in the Southern African Development Community (SADC) sub-regional schemes to be most focused on developing synergies that may exist to promote both socio-economic development and regional security across borders. This may hamper policy implementation through good governance and an ethically valued approach.
Journal Article
Vulnerable Growth
We study the conditional distribution of GDP growth as a function of economic and financial conditions. Deteriorating financial conditions are associated with an increase in the conditional volatility and a decline in the conditional mean of GDP growth, leading the lower quantiles of GDP growth to vary with financial conditions and the upper quantiles to be stable over time. Upside risks to GDP growth are low in most periods while downside risks increase as financial conditions become tighter. We argue that amplification mechanisms in the financial sector generate the observed growth vulnerability dynamics.
Journal Article
The Oxford companion to the economics of China
This work provides a wide range of perspectives on the past, present, and future of the Chinese economy. The topics covered include: the China model, future prospects for China; China and the global economy; trade and the Chinese economy; macro-economics and finance; urbanization; industry and markets; agriculture and rural development; land, infrastructure and environment; population and Labour; dimensions of well-being and inequality; health, education, and gender equity; regional divergence in China; and a brief look at a selection of China's provinces.
Book
THE RATE OF RETURN ON EVERYTHING, 1870–2015
What is the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much? Is there a tendency for returns to fall in the long run? Which particular assets have the highest long-run returns? We answer these questions on the basis of a new and comprehensive data set for all major asset classes, including housing. The annual data on total returns for equity, housing, bonds, and bills cover 16 advanced economies from 1870 to 2015, and our new evidence reveals many new findings and puzzles.
Journal Article
Resurgent China : issues for the future
This exploration of the Chinese economy analyses the latest data from China, and looks at recent trends in order to better understand the possible future of the country.
Book
ROBOTS AT WORK
We analyze for the first time the economic contributions of modern industrial robots, which are flexible, versatile, and autonomous machines. We use novel panel data on robot adoption within industries in seventeen countries from 1993 to 2007 and new instrumental variables that rely on robots’ comparative advantage in specific tasks. Our findings suggest that increased robot use contributed approximately 0.36 percentage points to annual labor productivity growth, while at the same time raising total factor productivity and lowering output prices. Our estimates also suggest that robots did not significantly reduce total employment, although they did reduce low-skilled workers’ employment share.
Journal Article