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- W3123834827 abstract "This paper summarizes theoretical arguments and provides empirical evidence to support the statement that rational economic policies depend qualitatively on two factors – technological and institutional level of development of a country. We concentrate on the impact of three policies to promote the catch up development – import tariffs, increase of government revenues/spending, and the speed of foreign exchange reserves accumulation (exchange rate protectionism). It is shown that the impact of these policies may be positive or negative dependening on a stage of development; in each case we find threshold levels or critical combinations of GDP per capita and/or an institutional quality indicator. A theoretical model demonstrates how tariff protection and accumulation of reserves can boost long term growth in the presence of externalities." @default.
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- W3123834827 date "2005-01-01" @default.
- W3123834827 modified "2023-09-27" @default.
- W3123834827 title "Appropriate Economic Policies at Different Stages of Development" @default.
- W3123834827 hasPublicationYear "2005" @default.
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