Renouf Publishing Co. Ltd.
embedded image
Online Bookstore


Quick Search
Advanced search
Featured books
New in print
Best Sellers
President's picks

Shopping cart/Checkout  [0]
Sign-up for eUpdates
Sri Lanka Education Sector Assessment
Achievements, Challenges, and Policy Options

by Halil Dundar, Benoit Millot, Michelle Riboud, Mari Shojo, Harsha Aturupane, Sangeeta Goyal, and Dhushyanth Raju

Series:Directions in Development: DID - Human Development
ISBN 9781464810527
Code: #211052

Publication year: 2017

Cdn: $52.00; US: $39.95
Language: English
224 pages
Add to cart
Due in May 2017.

In the 1960s, economic development was thought to be shaped by unlimited supplies of labor. Unlimited labor supply implies that wages would remain stagnant even when economies grow. In the 21st Century, the evidence is clear: the correlation between changes in wages and changes in Gross Domestic Product (GDP) per capita is high and close to one across economies of various sizes. Economic Development with Limited Supplies of Labor argues that the size of an economy's labor force does condition development. It studies the challenges of small economies by systematically analyzing correlates of labor-force size. The export structures of small economies are concentrated in a few products or services and in a small number of export destinations. In turn, export concentration is associated with terms of trade volatility, which combined with high exposure to international trade, implies that domestic economies also tend to be volatile as external volatility permeates national economic life. 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.
Sri Lanka Education Sector Assessment
Cdn: $52.00; US: $39.95
World Bank BookID: 119705 Added: 2017.4.15