Week 2 Flashcards

(8 cards)

1
Q

How can we explain this mixed evidence concerning convergence?

A
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2
Q

Conditional convergence

A
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3
Q

The Lucas Puzzle

A
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4
Q

An answer to the Lucas Puzzle?

A
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5
Q

Two main aspects to TFP (Total Factor Productivity)

A
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6
Q

Voracity effect

A

raw materials subverts institutions and leads to rent seeking (including civil conflict)

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7
Q

Dutch disease

A

Due to high level of exports see sharp increase in real exchange rate which crowds out other sectors’ exports.

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8
Q
A
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