World capital ‡ows are substantial. Since 2000, gross world capital ‡ows have averaged about 25 percent of world GDP per year, while net capital ‡ows have been in excess of 4 percent of world GDP. Figure 1 shows these net ‡ows as a fraction of world gross domestic product (GDP) over this period. Robert Lucas (1990) presumed that poor countries would have higher marginal products of capital (MPK...

Although the Covid-19 crisis has shown how high-frequency data can help track economy in real time, we investigate whether it improve nowcasting accuracy of world GDP growth. To this end, build a large dataset 718 monthly and 255 weekly series. Our approach builds on Factor-Augmented MIxed DAta Sampling (FA-MIDAS), which extend with preselection variables. We find that markedly enhances perform...

In the last twenty years, the world has experienced a surge in technological innovation which has contributed to economic growth around the globe. Surprisingly, the Middle East is one of the fastest growing regions in the world. Despite its long history of conflict, war, and government instability, this region has experienced an average GDP growth rate of 4.49%, compared with the average world ...

This study investigates what makes a country newsworthy in economic news around the world. Employing Web-mining techniques on 35 leading news sites in the 10 most popular Internet languages, we calculated and tracked the relative prominence of countries in the world’s economic news from 2009 to 2012, a time of economic recession. Our findings suggest that major changes in GDP, even in relativel...