Economic Policy

Download Age Shock: How Finance Is Failing Us by Robin Blackburn PDF

By Robin Blackburn

Publish yr note: First released in December 1st 2006

Most international locations face the long run with an getting old inhabitants, but so much governments are decreasing on pensions and the care companies wanted by means of the aged. Robin Blackburn exposes the perverse reasoning and unique pursuits that have mixed to provide this nonsensical scenario. This up to date paperback variation of Age surprise encompasses a new preface explaining why the credits crunch and eurozone drawback have had this sort of devastating impression and outlining how to warrantly good pensions and care provision.

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Additional info for Age Shock: How Finance Is Failing Us

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This record was unbroken until the mid-1980s when similar trends emerged in Chinese labour productivity. They explain most of the miracle associated with China’s catch-up with Korea. While the trend in labour productivity in the Indian economy since INNOVATION AND GROWTH © OECD AND THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT/THE WORLD BANK, 2009 31 32 – 3. KOREA AND THE BICS (BRAZIL, INDIA AND CHINA): CATCHING-UP EXPERIENCES the early 1990s pales in comparison with China’s, it is impressive by the standards of many other developing economies.

Fourth, we also find that regardless of competition, if an industry is too far from the frontier, it has no incentive to innovate and become competitive. As a result, it is unlikely to improve its productivity and catch up. This result has interesting policy implications. If policies that can shorten the distance to the technological frontier are implemented, it is possible to boost productivity. This in turn should boost competitiveness. This result directly puts the onus of distance-shortening or innovation-enhancing (these terms are used interchangeably here) policies on the BIC country which desires to catch up in the global market.

2008) find support for the inverted-U hypothesis by testing it with firm level data from Indian states for 1980-97, as do Aghion et al. (2004) for the United Kingdom between 1970 and 1994. They also examine de-licensing and its effect on within-industry inequality in productivity. Carlin et al. (2004) test the inverted-U hypothesis using BEEPS data from transition economies. They conclude that innovation is greater in monopolistic industries when there is little competition. Gorodnichenko et al.

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