IDEAS home Printed from https://ideas.repec.org/p/ebd/wpaper/133.html
   My bibliography  Save this paper

What makes growth sustained?

Author

Listed:
  • Andrew Berg

    (IMF)

  • Jonathan D. Ostry

    (IMF)

  • Jeromin Zettelmeyer

    (EBRD)

Abstract

We identify structural breaks in economic growth in 140 countries and use these to define “growth spells”: periods of high growth preceded by an upbreak and ending either with a downbreak or with the end of the sample. Growth spells tend to be shorter in African and Latin American countries than elsewhere. We find evidence that growth duration is positively related to: the degree of equality of the income distribution; democratic institutions; export orientation (with higher propensities to export manufactured goods, greater openness to FDI and avoidance of exchange rate overvaluation favorable for duration); and macroeconomic stability. The findings of this paper back the notion that “inclusive” economic transformations are more likely to lead to sustained growth than reforms that go along with rises in income inequality.

Suggested Citation

  • Andrew Berg & Jonathan D. Ostry & Jeromin Zettelmeyer, 2011. "What makes growth sustained?," Working Papers 133, European Bank for Reconstruction and Development, Office of the Chief Economist.
    • Handle: RePEc:ebd:wpaper:133
    as

    Download full text from publisher

    File URL: http://www.ebrd.com/downloads/research/economics/workingpapers/wp0133.pdf
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ebd:wpaper:133. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Olga Lucas (email available below). General contact details of provider: https://edirc.repec.org/data/ebrdduk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.