A new paper coauthored by fellow PSD blogger Thorsten Beck entitled Who Gets the Credit? offers up some new insights on what effect credit availability has on GDP growth. Using data on 45 countries between 1994 and 2005 on the relative share of enterprise vs. household credit, the authors conclude:
Communism failed to do it - can capitalism do any better? So far, the answer is not clear. I'm referring to the integration of the Romani minority into the mainstream of eastern Europe's transition countries. For those not familiar with this topic, 'Roma' is the polite term used in place of the more common 'Gypsy'.
As I discussed in an earlier post on social enterprise, the efforts of non-profits and corporate social responsibility departments are often confounded by the difficulty of measuring results in the absence of a bottom line. A new methdology put out by the World Business Council for Sustainable Development and the IFC aims to remedy that.
In a survey of academic salaries in 15 countries around the world, Canada came out on top, with an average monthly salary of $4,856 per month (in PPP dollars), and China came last with a monthly salary of $1,182. This is according to data collected by the Boston College Center for International Higher Education and reported in the most recent edition of International Higher Education.
A new paper from the Kauffman Foundation talks up the successes of India's approach to workforce development. According to How the Disciple Became the Guru, Indian companies have done such a good job at training their workforce that the U.S. should consider adopting some of India's practices in this regard (thus the title of the article). Or, as the authors of the paper conclude:
There is considerable debate about whether the mobility of highly skilled labor constitutes a brain drain or a brain circulation.
A new paper in the Journal of Economic Perspectives questions the myth of the entrepreneurial middle class (subscription required). Two of the leading advocates of randomized evaluation, Abhijit Banerjee and Esther Duflo, take a look at oft-repeated claims that the middle class stimulates economic growth through the creation of dynamic businesses.
I decided to follow up on an earlier posting that cast some doubts on the value of the XO laptop for students in developing countries. Two commentors pointed out that even if the XO laptop does not produce direct improvements in classroom learning, there still may be other kinds of benefits.
In a recent article in gazeta.ru, Vladimir Milov takes a hard look (in Russian) at the amount of foreign direct investment (FDI) going into Russia (Hat tip: JRL). The official numbers coming from Rosstat indicate that about $28 billion entered Russia in 2007. This number is respectable when compared to many other markets, as outlined in this post on Russia vs. China.