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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?

Fabrizio Carmignani () and Abdur Chowdhury ()

No 2010-06, Working Papers and Research from Marquette University, Center for Global and Economic Studies and Department of Economics

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.

Keywords: development; inequality; growth; economic policy; limited dependent variables; Economics (search for similar items in EconPapers)
JEL-codes: I30 O15 O40 C25 (search for similar items in EconPapers)
Date: 2010-09
New Economics Papers: this item is included in nep-fdg
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