I sent a comment to Krugman's blog on this last night. It'll appear in the next few days. I forgot to copy it before sending it.
People should look directly at the data. The NYT economic news people are not the best and brightest. There's synchrony, but the rates are all over the place. Large poor to mid-income countries don't seem to have the worst outlook. Telegraphically, it seems to me that the main factors at play are (1) large or small pop, (2) large or small territory (resource rich or not), (3) relative size of public sector, (4) relative size of forex reserves. Much less important seems to be exchange rate regime. I'd think that political conditions (above all, relation to the West, i.e. US and EU) also matter. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
