IMF Staff Papers, Volume 48, No. 2
This paper analyzes the link between product variety and economic growth. It finds support for the hypothesis that a greater degree of product variety relative to the United States helps to explain relative per capita GDP levels. The paper presents an empirical study for South Africa, which indicates that there exists a stable money demand type of relationship among domestic prices, broad money, real income, and interest rates, as well as a long-term relationship among domestic prices, foreign prices, and the nominal exchange rate.
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Volume/Issue:
Volume 2001
Issue 004
Publication date: December 2001
ISBN: 9781451974256
$15.00
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Topics covered in this book
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Business and Economics , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Agribusiness , SP , price , product variety , military spending , pass-through coefficient , currency demand , pass-through behavior , Defense spending , Agroindustries , Inflation , Inflation targeting , East Asia , Africa , Europe , Global , Eastern Europe
Summary
This paper analyzes the link between product variety and economic growth. It finds support for the hypothesis that a greater degree of product variety relative to the United States helps to explain relative per capita GDP levels. The paper presents an empirical study for South Africa, which indicates that there exists a stable money demand type of relationship among domestic prices, broad money, real income, and interest rates, as well as a long-term relationship among domestic prices, foreign prices, and the nominal exchange rate.
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