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Measuring the Dissemination of Volatility across Levels of Development

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Author Info
Jeffrey Edwards (North Carolina A&T State University)
Frank Thames (Texas Tech University)
Martin Edwards (Seton Hall University)

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Abstract

Using levels of democratic development as a proxy for economic development, and using a 2SLS GMM dynamic panel estimation methodology, we investigate the degree and direction of dissemination in the volatility of economic growth. Our findings indicate two essential points. First, there are differences along the democratic continuum of the ability of a country's economic growth volatility to affect other countries. Thus, an economic recession for example in one country, does not affect all countries equally across regime type. Second, growth volatility is not simply a North-South phenomenon, but a South-South phenomenon as well. In fact, the empirical patterns found here call into question the usefulness of relying on even these simple, dichotomous views of the world.

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Publisher Info
Article provided by Berkeley Electronic Press in its journal Topics in Macroeconomics.

Volume (Year): 6 (2006)
Issue (Month): 2 ()
Pages: 1458-1458
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Handle: RePEc:bep:mactop:v:6:y:2006:i:2:p:1458-1458

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Related research
Keywords: volatility growth GMM system

Find related papers by JEL classification:
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Jeffrey Edwards, 2007. "Dynamics of the Cross-Country Growth/Volatility Relationship," Global Economy Journal, International Trade and Finance Association, vol. 7(2), pages 4. [Downloadable!]
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