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How Do Structural and Policy Factors Affect a Country’s Probability to Achieve the Most (or the Least) Favorable Growth Path?

Author

Listed:
  • Carmignani, Fabrizio

    (School of Economics The University of Queensland)

  • Chowdhury, Abdur R.

    (Department of Economics Marquette University)

Abstract

We ask which economic policies can help a country create the most favourable conditions for development. We observe that the dynamics of several development indicators can be grouped into four clusters, each cluster corresponding to a different combination of growth and changes in inequality. Based on this observation, we define four different development scenarios and use limited dependent variable regressions to study how structural and policy factors affect a country’s probability to achieve the most (or the least) favourable of these scenarios. Our results point to a comforting picture: through the choice of appropriate policies countries can effectively increase their chances to achieve the most favourable development scenarios.

Suggested Citation

  • Carmignani, Fabrizio & Chowdhury, Abdur R., 2010. "How Do Structural and Policy Factors Affect a Country’s Probability to Achieve the Most (or the Least) Favorable Growth Path?," Working Papers and Research 2010-06, Marquette University, Center for Global and Economic Studies and Department of Economics.
    • Handle: RePEc:mrq:wpaper:2010-06
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    File URL: http://epublications.marquette.edu/econ_workingpapers/6
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    More about this item

    Keywords

    development; inequality; growth; economic policy; limited dependent variables; Economics;
    All these keywords.

    JEL classification:

    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities

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