This paper examines the structural determinants of output volatility in developing countries, and especially the roles of geography and institutions. We investigate the volatility effects of market access, climate variability, the geographic predisposition to trade, and various measures of institutional quality. We find an especially important role for market access: remote countries are more likely to have undiversified exports and to experience greater volatility in output growth. Our resul...Expand abstract
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- Peer review status:
- Not peer reviewed
- Author's Original
- Copyright holder:
- Elsevier B.V.
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- Copyright 2008 Elsevier B.V. All rights reserved. NOTICE: this is the author's version of a work that was accepted for publication in Journal of Development Economics. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Development Economics, 90, 2, (November 2009) DOI#10.1016/j.jdeveco.2008.10.003
The geography of output volatility.
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