Archive for December 17th, 2008

How to drive economic growth

December 17, 2008

Ricardo Hausmann of Harvard University has given an insightful speech on the subject of growth.

There are two widely-held views on economic growth:  1) it is a natural outcome of getting ‘the basics’ right– international integration, macroeconomic stability, and contract enforcement; and 2) it is hard, requiring a complete set of first, second, and third generation reforms that have little payoff until they are all implemented.  Yet the evidence shows that growth accelerations do not naturally arise from the Washington Consensus basics, nor do they require extensive reform. Instead, accelerations are triggered by a more effective focus on identifying and removing the binding constraints to growth as they arise.  This shifts the focus from creating a laundry list of reforms to using diagnostic signals to identify what particular constraints are holding back growth in a particular country at a particular time.

Want to read Phd theses of some top economists?

December 17, 2008

I knew MIT has put the economics theses of its PHD students online. However, I didn’t spend much time surfing through the website. The website of all theses is here and economics phd these link is here. It provides great search facility across subjects, names and year. I  found Phd theses of some top economists.

Great resource. Simply amazing.

Assorted Links

December 17, 2008

1. The news of the day is Fed cutting rates to a range of 0% to 0.25%. WSJ Blog points to Fed explanation for the range. It pointsto economists’ views. Krugman on the Fed policyto cut rates to 0% to 0.25%  Mankiw points to possible next FOMC meeting press statement  Econbrowser has some comments as well

2. Al Roth points to an interesting paper on bankruptcy

3. PIB points get ready for a L- shaped slump.

4. CTB points Keynes goes to Africa

5. Econbrowser has an excellent post – finding the exit

6. WSJ Blog says Fed Zings and ECB zags

7. IDB points to a microfinance e-library

8. MR points to a new NBER paper which is the best fiscal policy shock?


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