Two hundred years ago, during the Napoleonic Wars, the Luddite movement rocked the English industrial landscape. Dissatisfied with falling wages and increased competition from mills employing cheap rural labour, the Luddites broke into factories at night, smashing spinning frames and power looms.
Unleashing growth: The decline of innovation-blocking institutions
Klaus Desmet, Stephen L. Parente, 18 May 2013
Why reforms fail: Political-economy forces and agriculture in Africa
M. Ataman Aksoy, Bernard Hoekman, 15 May 2013
There are many hypotheses on why some nations fail and others become successful (see Acemoglu and Robinson 2012). While the debate rages on, an area of agreement is that the strength of institutions and their ability to adjust to shocks is an important factor.
Eurozone: Looking for growth
Laurence Boone, Céline Renucci, Ruben Segura-Cayuela, 25 March 2013
The financial crisis that erupted in 2008, prolonged by a sovereign crisis in the Eurozone, led to a massive contraction in trade, as well as in investment in physical and human capital; thus undermining the foundations of future growth. This may well continue as growth will not rapidly rebound while deleveraging slowly proceeds across Eurozone economies.
China and the end of extrapolation
George Magnus, 31 January 2013
That the Chinese economy is slowing down as it quickly matures should come as no surprise. The global economic conditions of the two decades leading up to the financial crisis were exceptional; things are far more sober now.
Many of China’s development achievements are unrepeatable. Only once can you:
Investing in UK prosperity: skills, infrastructure and innovation
Tim Besley, John Van Reenen, 31 January 2013
At the beginning of 2013, the outlook for the UK economy looks bleak even for a British winter. Output has been depressed for a longer period than it was even in the Great Depression, with GDP still below the peak level of early 2008.
Growth and political change: Transition duration is critical
Caroline Freund, Melise Jaud, 24 January 2013
The Arab world is undergoing a major political transition. The final outcomes of the changes are far from certain in nations where they have occurred. The geographical spread of the changes is also far from clear at this point. Nevertheless, there have been and will continue to be economic consequences from the moves towards democracy (see Besley and Kudamatsu 2007).
What economic model is Egypt going to adopt?
Mohsin Khan, 8 November 2012
The dramatic political developments since the Arab Spring have generated uncertainty and subsequent debate over the future of economic policies and economic reforms in the Arab world. This column asks:
Returning to growth in the UK: Policy lessons from history
Nicholas Crafts, 25 October 2012
Returning to growth after the crisis is proving elusive for the UK economy. Compared with the aftermath of the similarly severe recessions of 1930-1932 and 1979-1981, in mid-2012 the UK was well below the levels reached at the equivalent points, 1934 Q2 and 1983 Q3 (Figure 1).
Germs, Social Networks and Growth
Alessandra Fogli, Laura Veldkamp, 21 October 2012
Vox readers can download Discussion Paper 9188 for free here.
Vietnam’s economic development: Policies, challenges and prospects for the future
Sarah Chan, 24 October 2012
Facing cyclical and structural challenges that are arguably as significant as any moment since the 1997 Asian financial crisis, Vietnam’s real GDP growth has markedly decelerated in recent times. From an annualised performance of 6.8% in 2010, it fell to 5.9% in 2011 falling further to 4.4% in the beginning of 2012.
- Fiscal consolidation: At what speed?Blanchard, Leigh
- Public debt and economic growth, one more timePanizza, Presbitero
- Escaping liquidity traps: Lessons from the UK’s 1930s escapeCrafts
- The lessons of the North Atlantic crisis for economic theory and policyStiglitz
- Do entrepreneurs matter?Becker, Hvide
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Reichlin, Baldwin, 14 April 2013