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261. The Economic Integration of Immigrants in the United States: Lessons for Policy

Author:
George J. Borjas
Publication Date:
12-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
The most important economic feature of immigration to the United States in the post-1965 period has been a significant deterioration in the economic performance of successive immigrant waves. The policy reaction to this trend would obviously differ if the entry wage disadvantage disappeared quickly, as the immigrants assimilated in the American economy and acquired skills and information valuable in the American labour market. This paper examines the determinants of economic assimilation, and discusses how the experience of earlier immigrant waves can provide valuable information about the assimilation process the new immigrants will likely experience.
Topic:
Economics and Migration
Political Geography:
United States and America

262. Convergence Club Empirics: Some Dynamics and Explanations of Unequal Growth of Unequal Growth across Indian States

Author:
Sanghamitra Bandyopadhyay
Publication Date:
11-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper documents the convergence of incomes across Indian states over the period 1965 to 1998. It departs from traditional analyses of convergence by tracking the evolution of the entire income distribution, instead of standard regression and time series analyses. The findings reveal twin-peaks dynamics-the existence of two income convergence clubs, one at 50 per cent, another at 125 per cent of the national average income. Income disparities across states seem to have declined over the 1960s, only to increase over the subsequent three decades. The observed polarization is strongly explained by the disparate distribution of infrastructure, and that of education, and to an extent by a number of macroeconomic indicators; that of capital expenditure and fiscal deficits.
Topic:
Economics and Emerging Markets
Political Geography:
South Asia and India

263. Institutional Quality, Reforms and Integration in the Maghreb

Author:
Mina Baliamoune-Lutz and Tony Addison
Publication Date:
10-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Using panel data this paper examines the effects of institutions on the success of reforms and integration in the Maghreb. Institutional quality measures are developed using fuzzy-set based transformations of civil liberties and political rights. We posit that these transformations are quite appropriate given the nature of freedom indicators. We show that using fuzzy-set transformed measures provides useful insights regarding the quality of institutions in Algeria, Morocco and Tunisia. Furthermore, our empirical results suggest that institutions play a significant role in the success or failure of economic reforms. This conclusion is in clear contrast to views that propose a sequencing in which civil liberties and political rights should come after economic reforms are already in place and fully operational.
Topic:
Economics and Emerging Markets
Political Geography:
Algeria, North Africa, Morocco, and Tunisia

264. A Decomposition Analysis of Regional Poverty in Russia

Author:
Anthony Shorrocks and Stanislav Kolenikov
Publication Date:
10-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper applies a new decomposition technique to the study of variations in poverty across the regions of Russia. The procedure, which is based on the Shapley value in cooperative game theory, allows the deviation in regional poverty levels from the all- Russia average to be attributed to three proximate sources; mean income per capita, inequality, and local prices. Contrary to expectation, regional poverty variations turn out to be due more to differences in inequality across regions than to differences in real income per capita. However, when real income per capita is split into nominal income and price components, differences in nominal incomes emerge as more important than either inequality or price effects for the majority of regions.
Topic:
Economics and Poverty
Political Geography:
Russia, Europe, and Asia

265. Reforms, Remoteness and Risk in Africa: Understanding Inequality and Poverty during the 1990s

Author:
Luc Christiaensen, Lionel Demery, and Stefano Paternostro
Publication Date:
09-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This study traces the interactions between economic growth, income inequality and consumption poverty in a sample of African countries during the 1990s. It draws on the much-improved household data sets now available in the region. It finds that experiences have varied: some countries have seen sharp falls in income poverty; others have witnessed marked increases. Economic growth has been 'pro-poor' in that the incomes of poor households have typically grown at similar or faster rates than average income. But the aggregate numbers hide significant and systematic distributional effects which have caused some groups and regions to be left behind. The paper explores the contours of these effects, and draws three key conclusions. First, agricultural market liberalization has been conducive to reductions in rural poverty. Second, market connectedness is crucial for poor producers to take advantage of the opportunities offered by economic growth. Some regions and households by virtue of their sheer remoteness have been left behind when growth picks up. The availability of infrastructure (especially roads) and proximity to markets are crucial. And finally risks, such as rainfall variations and ill health are found to have profound effects on poverty outcomes, underscoring the significance of social protection in poverty reduction strategies in Africa.
Topic:
Economics and Poverty
Political Geography:
Africa

266. e-development? Development and the New Economy

Author:
Matthew Clarke
Publication Date:
12-2003
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
The world economy has recently changed. A new world economy has emerged over the last decade as two long-run broad trends, globalization and advances in information and communication technology (ICT) have converged. This 'new economy' is significantly different to the 'old economy', as knowledge has replaced traditional productivity inputs, such as labour and natural resources, as the primary ingredient for economic growth. A new landscape exists and countries must adapt their approaches and policies for development to achieve progress in the future.
Topic:
Economics, Globalization, International Political Economy, and Science and Technology

267. Africa's Recovery from Conflict: Making Peace Work for the Poor

Author:
Tony Addison
Publication Date:
03-2003
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
The period 1990-2000 saw 19 major armed-conflicts in Africa, ranging from civil wars to the 1998-2000 war between Eritrea and Ethiopia. Peace has been elusive, and the term 'post-conflict' is often a sad misnomer.
Topic:
Conflict Resolution, Economics, and Poverty
Political Geography:
Africa, Ethiopia, and Eritrea

268. Globalization and Catching-up in Emerging Market Economies

Author:
Grzegorz W. Kolodko
Publication Date:
05-2002
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
The study discusses conditions and prospects for fast and durable growth in emerging market economies. In the course of history less than 30 nations have become rich and still more than 80 per cent of the world population lives in the middle and low-income countries, some of them in extreme poverty. It is true not only for the majority of economies traditionally considered as 'developing countries', but also for the new, post-socialist emerging markets. Thus the questions arise: what is the influence of globalization process on economic growth and how real are the prospects for these emerging markets to catch up with more advanced countries? What factors may contribute to sustained and rapid growth over the long term? The paper examines strategies that can help taking the contemporary wave of globalization to the advantage of fast growth of less advanced countries and hence containing the existing development gaps.
Topic:
Economics, Emerging Markets, Globalization, and International Trade and Finance

269. The Benefits and Costs of Group Affiliation: Evidence from East Asia

Author:
Stijn Claessens, Joseph P.H. Fan, and Larry H.P. Lang
Publication Date:
05-2002
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper investigates the benefits and associated agency costs of using internal capital markets through affiliating with groups using data of two thousand firms from nine East Asian economies between 1994-6. We find that mature and slow-growing firms with ownership structures more likely to create agency problems gain more from group affiliation, while young and high-growth firms more likely lose. Agency problems are important explanatory factors of firm value in economies outside Japan, but less so in Japan. Consistent with the literature, financially constrained firms benefit from group affiliation. Our results are robust to different time periods and estimation techniques.
Topic:
Economics and International Trade and Finance
Political Geography:
Israel and East Asia

270. The Macroeconomic Repercussions of Agricultural Shocks and their Implications for Insurance

Author:
Paul Collier
Publication Date:
04-2002
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
The paper considers the macroeconomic impact of shocks to agricultural output and of negative and positive price shocks. It is shown that negative price shocks have particularly large externalities: it is estimated that the overall impact of these negative shocks on GDP may well be double their direct impact. In terms of policy, the presence of externalities justifies subsidising the provision of insurance. If insurance is not feasible, then foreign aid may be helpful. Turning to other systemic shocks, it is argued that the macroeconomic consequences of negative output shocks are far less important. Positive price shocks also have substantial macroeconomic externalities via their effect on asset demand. Appropriate central bank policy is crucial and requires a detailed understanding of asset demand changes in response to price shocks. Since this may well be unlikely, dollarization may be a better strategy.
Topic:
Economics, Government, and International Trade and Finance