000			03362cam a22004095i 4500
001			211042
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006			m d
007			cr cn|||||||||
008			020129s2017 dcu o i00 0 eng
020			_a9781464810435 _c _35.00 USD
020			_z9781464810428
035			_a(The World Bank)211042
040			_aDJBF _beng _cDJBF _erda
100	1		_aLederman, Daniel. _926801
245	1	0	_aOpen and Nimble : _bFinding Stable Growth in Small Economies / _cDaniel Lederman.
264		1	_aWashington, D.C. : _bThe World Bank, _c2017.
300			_a1 online resource (132 pages)
336			_atext _btxt _2rdacontent
337			_acomputer _bc _2rdamedia
338			_aonline resource _bcr _2rdacarrier
347			_adata file _2rda
490	1		_aDirections in Development
520	3		_aDoes economic size matter for economic development outcomes? If so are current policies adequately addressing the role of size in the development process? Using working age population as a proxy for country size, Open and Nimble, systematically analyzes what makes small economies unique. Small economies are not necessarily prone to underdevelopment and in fact can achieve very high income levels. Small economies, however, do tend to be highly open to both international trade and foreign direct investment, have highly specialized export structures, and have large government expenditures relative to their Gross Domestic Product. The export structures of small economies are concentrated in a few products or services and in a small number of export destinations. In turn, this export concentration is associated with terms of trade volatility, which combined with high exposure to international trade, implies that small economies tend to face more volatility on average as external volatility permeates national economic life. Yet small economies tend to compensate for their export concentration by being nimble in the sense of being able to change their production and export structure relatively quickly over time. Moreover, limited territory plays a role in shaping how economies are affected by natural disasters, even when the probability of facing such disasters is not necessarily higher among small than among large economies. The combination of large governments with macroeconomic volatility seems to be associated with low national savings rates in small economies. This combination could be a challenge for long-term growth if productivity growth and foreign investment do not compensate for low domestic savings. The book finishes with some thoughts on how policy makers can respond to these issues through coordinated investments and regional integration efforts, as well as fiscal policy reforms aimed at both increasing public savings and conducting countercyclical fiscal policies.
588			_aDescription based on print version record.
650		4	_aEconomic Specialization _926802
650		4	_aEconomies Of Scale _926803
650		4	_aInternational Trade _926804
650		4	_aSmall Economies _926805
650		4	_aVolatility _926806
700	1		_aLederman, Daniel. _926801
700	1		_aLesniak, Justin T. _926807
776	0	8	_aPrint Version: _z9781464810428
830		0	_aWorld Bank e-Library. _926808
856	4	0	_uhttp://elibrary.worldbank.org/doi/book/10.1596/978-1-4648-1042-8
999			_c5217 _d5217