Accelerating Economic Growth: The Science beneath the Art

Peruzzi, Michele; Terzi, Alessio

doi:10.1016/j.econmod.2021.105593

Cited by 9 publications

(13 citation statements)

References 79 publications

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“…(1993) first highlighted and many others have confirmed since then, growth process tends to be highly unstable and exhibit multiple structural breaks (see, e.g. Pritchett, 2000; Hausmann et al., 2005; Jones & Olken, 2008; Aizenman & Spiegel, 2010; Jong‐A‐Pin & de Haan, 2011; Pritchett et al., 2016; Peruzzi & Terzi, 2018). The more typical pattern is that countries experience phases of growth, stagnation or decline of varying length.…”

Section: Introductionmentioning

confidence: 93%

“…[…] growth accelerations are caused predominantly by idiosyncratic, and often small‐scale changes’. Peruzzi and Terzi (2018) pointed that ‘growth accelerations are extremely hard to engineer with a high degree of certainty […] roughly 9 out of 10 instances failed to ignite a take‐off’. Jong‐A‐Pin & de Haan (2011) highlighted the important role of economic liberalizations while they found that a move towards more democracy reduces the likelihood of growth surges.…”

Section: Introductionmentioning

confidence: 99%

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Igniting growth surges: Lessons from the past

Atsebi

2023

Econ of Transit and Inst Chang

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Abstract‘What exactly’ can countries do to initiate an episode of growth surge? I identify 132 episodes of growth surges occurring between 1980 and 2010 in 117 countries. I find that disproportionate improvements in macroeconomic stability and external factors and endowments favour a higher probability of growth surge. They are followed by structural reforms, investments, labour and productivity, trade diversification and quality and, lastly, by institutions. Countries can maximize the likelihood of igniting growth surges if they jointly achieve significant improvements in macroeconomic stability and external conditions and endowments. Also, macroeconomic stability and to some extent, external factors and endowments may be considered as dominant strategies to ignite a growth surge, as no improvements in these determinants, generally constraint the other determinants to have a smaller effect on growth surges. There is a notable difference between decades, regions and levels of development, which calls for careful tailoring of policies aiming at igniting growth surges to local conditions.

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Section: Introductionmentioning

confidence: 93%

Section: Introductionmentioning

confidence: 99%

Igniting growth surges: Lessons from the past

Atsebi

2023

Econ of Transit and Inst Chang

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“…• The current state of the art enables to group countries based on distinct growth performance. This may serve as a starting point for the analysis of the group-specific determinants of GDP growth, as well as the analysis of the factors impacting growth accelerations [19], and growth spells [20], [21]. Within this approach, the grouping itself does not relate to the similarity in the growth processes and mechanisms but rather to the growth performance.…”

Section: Literature Reviewmentioning

confidence: 99%

Detecting Regimes of Economic Growth With Fuzzy Concept-Based Models

Barták

Jastrzębska

2023

IEEE Access

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The paper presents a new method to detect economic growth regimes based on time-series similarity analysis. The procedure builds upon a fuzzy concept-based model, the Jaccard Index, and a hierarchical clustering procedure. Having introduced the proposed method, we apply it to the time series of economic growth and its proximate factors. Further, we study the stability of the obtained results under different parameters. The proposed procedure allows us to detect groups of countries that share a common growth performance and akin growth mechanisms. Simultaneously, the method let us identify countries that escape any fixed classifications.INDEX TERMS Concept-based models, economic growth, growth regime, fuzzy sets.

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“…To focus our analysis on the two themes, we assume that the outcomes of the games are payoffs that are transferable between the three sets of players: university administrations, academics and students. The context of our analysis is Anglo Russian university partnerships (Peacock and Cordner, 2016; Peruzzi and Terzi, 2021).…”

Section: Introductionmentioning

confidence: 99%

Games theory and strategic alliances: applications to British Russian partnership

Tlemsani

Hashim²,

Matthews

2021

HESWBL

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PurposeThis conceptual paper examines the need for viable theoretical models of international learning alliances in the light of cooperative games and complexity in two distinguished educational settings. Game theory is used to demonstrate the need for the top managerial executives to acquire a detailed understanding of decision makers' behaviours and trigger the deployment of complex analytical methods. The paper scrutinizes Russia's pursued aggressive approach using shock therapy, also suggest the critical need to reform policy.Design/methodology/approachCombining the critical analysis of (1) cooperative games and (2) adaptive systems structures, a dependable model is derived, which sets the baseline for determining the role of costs and gains. The analysis is supported using a real-world example of an alliance between British University (the X and Y alliance) and Russian University. It also emphasizes the importance of both internal and external pressure variables closely connected with the cooperative games, adaptive system and shock therapy.FindingsTwo features of alliances have been emphasized. The first is the importance of informal relationships in the evolution of partnerships and of cooperation. This is a well-known factor in the success of any relationship. Especially in international partnerships, empathy at the individual level is perhaps necessary to bypass the influence of historical and cultural differences that are barriers at the macro level, preconditions rather than consequences of successful policies and contractual arrangements at the level of organizations and governments. The second feature is interdependence at the cost–benefit level and in the domain of decisions. The cooperation of both partners is required to realize payoffs.Practical implicationsThe implication of this paper is a guideline for regulators and policymakers designing worldwide alliances in higher education. In addition, this paper covers an interesting domain that could be of interest to organizations involved in forming strategic alliances, developing and re-engineering policies for strategic coalitions and setting future profitable payoff relationships within the contextual limitations of X and Y.Originality/valueThis paper creates new knowledge by concisely examining the meaning of strategic alliances in the context of the global education industry.

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Accelerating Economic Growth: The Science beneath the Art

Cited by 9 publications

References 79 publications

Igniting growth surges: Lessons from the past

Igniting growth surges: Lessons from the past

Detecting Regimes of Economic Growth With Fuzzy Concept-Based Models

Games theory and strategic alliances: applications to British Russian partnership

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