skip to content
Open and nimble : finding stable growth in small economies. Preview this item
ClosePreview this item
Checking...

Open and nimble : finding stable growth in small economies.

Author: Daniel Lederman; Justin T Lesniak
Publisher: Washington, DC : World Bank Group, [2018] ©2018
Series: Directions in development (Washington, D.C.)., Countries and regions.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Summary:
Does economic size matter for economic development outcomes? If so are current policies adequately addressing the role of size in the development process? Using working age population as a proxy for country size, this publication systematically analyzes what makes small economies unique. Small economies are not necessarily prone to underdevelopment and in fact can achieve very high income levels. Small economies,  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy online

Links to this item

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Genre/Form: Electronic books
Additional Physical Format: Print version:
Lederman, Daniel.
Open and nimble : finding stable growth in small economies.
Washington, District of Columbia : World Bank Group, c2018
xiii, 116 pages
Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Daniel Lederman; Justin T Lesniak
ISBN: 9781464810435 1464810435
OCLC Number: 1008757403
Description: 1 online resource (xiii, 116 pages) : color illustrations.
Contents: Introduction --
What Is a Small Economy? --
In Search of Scale Economies with International Data --
Implications for Economic Outcomes --
Open and Nimble: How Small Economies Adapt to Their Economic Challenges --
Policy Implications --
Appendix A. Distribution of Labor Force Size in Latin America and the Caribbean. ""Front Cover""; ""Contents""; ""Acknowledgments""; ""About the Authors""; ""Abbreviations""; ""Chapter 1 Introduction""; ""Note""; ""Chapter 2 What Is a Small Economy?""; ""What Is a â#x80;#x9C;Smallâ#x80;#x9D; Economy?""; ""Differences in Economic Orientation among Small Economies in LAC""; ""Economic Size and Its Relationship with Growth Outcomes""; ""Notes""; ""References""; ""Chapter 3 In Search of Scale Economies with International Data""; ""Literature on Economies of Scale""; ""Economies of Scale in Trade Patterns""; ""Scale Economies in Spillovers from Foreign Direct Investment?"" ""Evidence of Scale Economies in Government""""Notes""; ""References""; ""Chapter 4 Implications for Economic Outcomes""; ""External Economic Volatility""; ""Higher Relative Costs of Natural Disasters""; ""Fiscal Challenges in the Context of Fixed Exchange Rates""; ""Low Savings Rates""; ""Notes""; ""References""; ""Chapter 5 Open and Nimble: How Small Economies Adapt to Their Economic Challenges""; ""Openness to Trade and Investment""; ""Nimbleness: Diversification Over Time""; ""Emigration and Remittances""; ""Notes""; ""References""; ""Chapter 6 Policy Implications"" ""Economic Characteristics of Small Economies""""Policy Solutions""; ""Concluding Thoughts""; ""Notes""; ""References""; ""Appendix A Distribution of Labor Force Size in Latin America and the Caribbean""; ""Figures""; ""Figure 2.1â#x80;#x82;Export Value Decomposition for Small Economies in Latin America and the Caribbean, 2014""; ""Figure 2.2â#x80;#x82;Differing Long-Term Growth Trends in Small Economies in Latin America and the Caribbean, 1981â#x80;#x93;2013""; ""Figure 2.3â#x80;#x82;LAC Labor Force Size in 2013""; ""Figure 2.4â#x80;#x82;GDP per Capita PPP Levels in LAC, 2013"" ""Figure 2.5â#x80;#x82;Long-Run Growth Rates in LAC, 1970â#x80;#x93;2013""""Figure 3.1â#x80;#x82;Number of Export Product Lines, 1995â#x80;#x93;2013""; ""Figure 3.2â#x80;#x82;Herfindahl-Hirschman Index, 1995â#x80;#x93;2013""; ""Figure 3.3â#x80;#x82;Relationship between Size and Openness""; ""Figure 3.4â#x80;#x82;Relationship between Openness and Number of Export Lines""; ""Figure 3.5â#x80;#x82;Partial Correlation between Size and Number of Export Lines, Controlling for Openness""; ""Figure 3.6â#x80;#x82;Partial Correlation between Openness and Number of Export Lines, Controlling for Size""; ""Figure 3.7â#x80;#x82;Number of Export Markets, 1995â#x80;#x93;2013"" ""Figure 3.8â#x80;#x82;Herfindahl-Hirschman Index Export Markets, 1995â#x80;#x93;2013""""Figure 3.9â#x80;#x82;Share of Exports in Increasing Returns to Scale Products, 1995â#x80;#x93;2013""; ""Figure 3.10â#x80;#x82;Backward Linkages Increase with Size""; ""Figure 3.11â#x80;#x82;Effects of Different Sectors on the Propensity to Form Backward Linkages""; ""Figure 3.12â#x80;#x82;Partial Correlation between Backward Linkages and Labor Force Size, Controlling for Average Years of Education Attained""; ""Figure 3.13â#x80;#x82;Partial Correlation between Backward Linkages and Average Years of Education Attained, Controlling for Labor Force Size"" ""Figure 3.14â#x80;#x82;Government Spending as a Share of GDP, 1990â#x80;#x93;2013""
Series Title: Directions in development (Washington, D.C.)., Countries and regions.
Responsibility: Daniel Lederman and Justin T. Lesniak.

Abstract:

Does economic size matter for economic development outcomes? If so are current policies adequately addressing the role of size in the development process? Using working age population as a proxy for country size, this publication systematically analyzes what makes small economies unique. Small economies are not necessarily prone to underdevelopment and in fact can achieve very high income levels. Small economies, however, do tend to be highly open to both international trade and foreign direct investment, have highly specialized export structures, and have large government expenditures relative to their Gross Domestic Product. The export structures of small economies are concentrated in a few products or services and in a small number of export destinations. In turn, this export concentration is associated with terms of trade volatility, which combined with high exposure to international trade, implies that small economies tend to face more volatility on average as external volatility permeates national economic life. Yet small economies tend to compensate for their export concentration by being nimble in the sense of being able to change their production and export structure relatively quickly over time. Moreover, limited territory plays a role in shaping how economies are affected by natural disasters, even when the probability of facing such disasters is not necessarily higher among small than among large economies. The combination of large governments with macroeconomic volatility seems to be associated with low national savings rates in small economies. This combination could be a challenge for long-term growth if productivity growth and foreign investment do not compensate for low domestic savings. The book finishes with some thoughts on how policy makers can respond to these issues through coordinated investments and regional integration efforts, as well as fiscal policy reforms aimed at both increasing public savings and conducting countercyclical fiscal policies.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/1008757403> # Open and nimble : finding stable growth in small economies.
    a schema:MediaObject, schema:Book, schema:CreativeWork ;
    library:oclcnum "1008757403" ;
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/dcu> ;
    rdfs:comment "Unknown 'gen' value: igp" ;
    rdfs:comment "Warning: This malformed URI has been treated as a string - 'https://ebookcentral.proquest.com/lib/unt/detail.action?docID=5119663";'" ;
    schema:about <http://dewey.info/class/338.9/> ;
    schema:about <http://experiment.worldcat.org/entity/work/data/4657393050#Topic/states_small_economic_conditions> ; # States, Small--Economic conditions
    schema:about <http://experiment.worldcat.org/entity/work/data/4657393050#Topic/business_&_economics_industries_general> ; # BUSINESS & ECONOMICS / Industries / General
    schema:author <http://experiment.worldcat.org/entity/work/data/4657393050#Person/lesniak_justin_t> ; # Justin T. Lesniak
    schema:author <http://experiment.worldcat.org/entity/work/data/4657393050#Person/lederman_daniel_1968> ; # Daniel Lederman
    schema:bookFormat schema:EBook ;
    schema:copyrightYear "2018" ;
    schema:datePublished "2018" ;
    schema:description "Introduction -- What Is a Small Economy? -- In Search of Scale Economies with International Data -- Implications for Economic Outcomes -- Open and Nimble: How Small Economies Adapt to Their Economic Challenges -- Policy Implications -- Appendix A. Distribution of Labor Force Size in Latin America and the Caribbean."@en ;
    schema:description """Front Cover""; ""Contents""; ""Acknowledgments""; ""About the Authors""; ""Abbreviations""; ""Chapter 1 Introduction""; ""Note""; ""Chapter 2 What Is a Small Economy?""; ""What Is a â#x80;#x9C;Smallâ#x80;#x9D; Economy?""; ""Differences in Economic Orientation among Small Economies in LAC""; ""Economic Size and Its Relationship with Growth Outcomes""; ""Notes""; ""References""; ""Chapter 3 In Search of Scale Economies with International Data""; ""Literature on Economies of Scale""; ""Economies of Scale in Trade Patterns""; ""Scale Economies in Spillovers from Foreign Direct Investment?"""@en ;
    schema:description "Does economic size matter for economic development outcomes? If so are current policies adequately addressing the role of size in the development process? Using working age population as a proxy for country size, this publication systematically analyzes what makes small economies unique. Small economies are not necessarily prone to underdevelopment and in fact can achieve very high income levels. Small economies, however, do tend to be highly open to both international trade and foreign direct investment, have highly specialized export structures, and have large government expenditures relative to their Gross Domestic Product. The export structures of small economies are concentrated in a few products or services and in a small number of export destinations. In turn, this export concentration is associated with terms of trade volatility, which combined with high exposure to international trade, implies that small economies tend to face more volatility on average as external volatility permeates national economic life. Yet small economies tend to compensate for their export concentration by being nimble in the sense of being able to change their production and export structure relatively quickly over time. Moreover, limited territory plays a role in shaping how economies are affected by natural disasters, even when the probability of facing such disasters is not necessarily higher among small than among large economies. The combination of large governments with macroeconomic volatility seems to be associated with low national savings rates in small economies. This combination could be a challenge for long-term growth if productivity growth and foreign investment do not compensate for low domestic savings. The book finishes with some thoughts on how policy makers can respond to these issues through coordinated investments and regional integration efforts, as well as fiscal policy reforms aimed at both increasing public savings and conducting countercyclical fiscal policies."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/4657393050> ;
    schema:genre "Government publication"@en ;
    schema:genre "Electronic books"@en ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/4657393050#Series/directions_in_development_washington_d_c> ; # Directions in development (Washington, D.C.).
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/4657393050#Series/directions_in_development_countries_and_regions> ; # Directions in development. Countries and regions
    schema:isSimilarTo <http://worldcat.org/entity/work/data/4657393050#CreativeWork/open_and_nimble_finding_stable_growth_in_small_economies> ;
    schema:name "Open and nimble : finding stable growth in small economies."@en ;
    schema:productID "1008757403" ;
    schema:url <http://ebookcentral.proquest.com/lib/ucm/detail.action?docID=5119663> ;
    schema:url <http://elibrary.worldbank.org/doi/book/10.1596/978-1-4648-1042-8> ;
    schema:url <http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=1530758> ;
    schema:url "https://ebookcentral.proquest.com/lib/unt/detail.action?docID=5119663";" ;
    schema:url <http://lib.myilibrary.com?id=1045561> ;
    schema:url <https://ebookcentral.proquest.com/lib/exeter/detail.action?docID=5119663> ;
    schema:url <http://public.eblib.com/choice/PublicFullRecord.aspx?p=5119663> ;
    schema:workExample <http://worldcat.org/isbn/9781464810435> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/1008757403> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/4657393050#Person/lederman_daniel_1968> # Daniel Lederman
    a schema:Person ;
    schema:birthDate "1968" ;
    schema:familyName "Lederman" ;
    schema:givenName "Daniel" ;
    schema:name "Daniel Lederman" ;
    .

<http://experiment.worldcat.org/entity/work/data/4657393050#Person/lesniak_justin_t> # Justin T. Lesniak
    a schema:Person ;
    schema:familyName "Lesniak" ;
    schema:givenName "Justin T." ;
    schema:name "Justin T. Lesniak" ;
    .

<http://experiment.worldcat.org/entity/work/data/4657393050#Series/directions_in_development_countries_and_regions> # Directions in development. Countries and regions
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1008757403> ; # Open and nimble : finding stable growth in small economies.
    schema:name "Directions in development. Countries and regions" ;
    .

<http://experiment.worldcat.org/entity/work/data/4657393050#Series/directions_in_development_washington_d_c> # Directions in development (Washington, D.C.).
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1008757403> ; # Open and nimble : finding stable growth in small economies.
    schema:name "Directions in development (Washington, D.C.)." ;
    .

<http://experiment.worldcat.org/entity/work/data/4657393050#Topic/business_&_economics_industries_general> # BUSINESS & ECONOMICS / Industries / General
    a schema:Intangible ;
    schema:name "BUSINESS & ECONOMICS / Industries / General"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/4657393050#Topic/states_small_economic_conditions> # States, Small--Economic conditions
    a schema:Intangible ;
    schema:name "States, Small--Economic conditions"@en ;
    .

<http://lib.myilibrary.com?id=1045561>
    rdfs:comment "Connect to MyiLibrary resource." ;
    .

<http://worldcat.org/entity/work/data/4657393050#CreativeWork/open_and_nimble_finding_stable_growth_in_small_economies>
    a schema:CreativeWork ;
    rdfs:label "Open and nimble : finding stable growth in small economies." ;
    schema:description "Print version:" ;
    schema:isSimilarTo <http://www.worldcat.org/oclc/1008757403> ; # Open and nimble : finding stable growth in small economies.
    .

<http://worldcat.org/isbn/9781464810435>
    a schema:ProductModel ;
    schema:isbn "1464810435" ;
    schema:isbn "9781464810435" ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.