We model ‘new ideas’ production in a panel of 17 emerging countries. Our results reveal: (i) ideas production is duplicative, (ii) externality associated with domestic knowledge stocks is of above unit factor proportionality, (iii) OECD countries raise the innovation-bar for emerging countries, (iv) there is no significant knowledge diffusion across emerging countries, and (v) growth in emergin...

Can we use neoclassical growth model to single out the important transmission channels through which external factors or ‘primitives’ affected the Indian economy and caused the remarkable growth of the period 1982–2002? In this paper, we answer the question by applying the new technique of business cycle accounting to the Indian economy. Our results show us that the primary conduit of policies ...

This paper estimates international spillover e§ects of US Quantitative Easing (QE) on emerging market economies. Using a Bayesian VAR on monthly US macroeconomic and financial data, we first identify the US QE shock with non-recursive identifying restrictions. This identified shock is then used in another Bayesian panel VAR for emerging market economies to infer the international spillover e§ec...

This paper uses a panel structural vector autoregressive (VAR) model to investigate the extent to which global financial conditions, i.e., a global risk-free interest rate and global financial risk, and country spreads contribute to macroeconomic fluctuations in emerging countries. The main findings are: (1) Global financial risk shocks explain about 20 percent of movements both in the country ...

although capital inflows affect positively economies in long-run, it is possible to generate somehow destructive effects if there is no any control on financial markets. this study tries to explore main determinants of large capital inflows episodes to emerging markets. it is also investigated whether the large capital inflows episodes lead to financial crises in forms of sudden stop phenomenon...

In emerging economies, political institutions (i.e., government and its agencies), act as a major force in defining and mobilizing resources. IT entrepreneurial firms endeavor to obtain resources from political institutions, named as political institutional resources (PIRs), to overcome insurmountable handicap of resource deficiency. However, how PIRs matter remains unclear. Acknowledging this ...

This paper explains why public domestic debt composition in emerging economies can be risky, namely in foreign currency, with a short maturity or indexed. It analyses empirically the determinants of these risk sources separately, developing a new large dataset compiled from national sources for 33 emerging economies over 1994-2006. The paper finds that economic size, the breadth of the domestic...

The choice of exchange rate regime has become one of the most important issues once more in many economies after the financial crises in recent years. In the wake of the financial crises, many countries, especially emerging market economies, opted for floating exchange rate regimes by forsaking the pegged regimes. Consequently, an old debate on the choice and determinants of exchange rate regim...

Emerging economies have often poor hygiene practices in traditional milk and dairy production all over the world. Therefore, pathogenic bacteria in milk pose major public health concerns especially for those communities who still consume raw milk. Escherichia coli and coliforms are often used as indicator microorganisms, so their presence in food implies poor hygiene and sanitary practices. The...

The authors propose measures to prevent a clash between the interests of the middle classes that are in decline in the mature economies and the rising ones in emerging markets. The aim is to stop de-globalization trends, avoid protectionism, foster inclusive technological innovation, compensate the losers of globalization in developed economies and reassure the winners in emerging economies. It...