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Productive Government Expenditure and Economic Growth

Irmen, Andreas; Kuehnel, Johanna - CESifo - 2008

We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study...

Persistent link: https://www.econbiz.de/10005196238

Bringing French Public Debt Down: The Options for Fiscal Consolidation

Egert, Balazs - CESifo - 2012

France has a track record of persistent general government deficits, partly reflecting pro-cyclical fiscal policies in upswings. This has resulted in a quadrupling of its public debt-to-GDP ratio since the 1970s to above 80% of GDP. Reducing public debt is crucial because a high level of public...

Persistent link: https://www.econbiz.de/10010570047

A Pair-Wise Approach to Testing for Output and Growth Convergence

Pesaran, M. Hashem - CESifo - 2004

This paper proposes a pair-wise approach to testing for output convergence that considers all N(N-1)/2 possible pairs … of log per capita output gaps across N economies. A general probabilistic definition of output convergence is also …-2000. Overall, the results do not support output convergence, and suggest that the findings of convergence clubs in the literature …

Persistent link: https://www.econbiz.de/10005766053

Is the Relationship between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle Income Countries

Samargandi, Nahla; Fidrmuc, Jan; Ghosh, Sugata - CESifo - 2014

We revisit the relationship between financial development and economic growth in a panel of 52 middle income countries over the 1980-2008 period, using pooled mean group estimator in a dynamic heterogeneous panel setting. We show that financial development does not have a linear positive...

Persistent link: https://www.econbiz.de/10010757725

Geopolitics, Aid and Growth

Dreher, Axel; Eichenauer, Vera; Gehring, Kai - CESifo - 2013

We investigate the effects of short-term political motivations on the effectiveness of foreign aid. Donor countries’ political motives might reduce the effectiveness of conditionality, channel aid to inferior projects or affect the way aid is spent in other ways, reduce the aid bureaucracy’s...

Persistent link: https://www.econbiz.de/10010671571

Infrastructure and Growth: Empirical Evidence

Egert, Balazs; Kozluk, Tomasz; Sutherland, Douglas - CESifo - 2009

Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure investment can have a positive effect on growth that goes beyond the effect of the capital stock because of economies of scale, the existence of network externalities competition...

Persistent link: https://www.econbiz.de/10005013038

Harnessing Windfall Revenues: Optimal Policies for Resource-Rich Developing Economies

Ploeg, Frederick Van der; Venables, Anthony J. - CESifo - 2009

A windfall of natural resource revenue (or foreign aid) faces government with choices of how to manage public debt, investment, and the distribution of funds for consumption, particularly if the windfall is both anticipated and temporary. We show that the permanent income hypothesis prescription...

Persistent link: https://www.econbiz.de/10005051526

A Convex Hull Approach to Counterfactual Analysis of Trade Openness and Growth

Funke, Michael; Gronwald, Marc - CESifo - 2009

In this paper, we apply a convex hull approach to counterfactual analysis of trade openness and growth. The experiments we choose evaluate the importance of trade openness for growth across African countries. Specifically, we ask the question “what would happen if African countries were more...

Persistent link: https://www.econbiz.de/10005034636

Socio-Political Conflict and Economic Performance in Bolivia

Evia, Jose-Luis; Laserna, Roberto; Skaperdas, Stergios - CESifo - 2008

We examine how socio-political conflict in Bolivia has affected its economic performance since the 1970s. Such conflict includes strikes, demonstrations, road blockades, and conventional rent-seeking. Since conflict has costs, it diverts resources away from production, tends to reduce investment...

Persistent link: https://www.econbiz.de/10005405932

Does Financial Integration Spur EconomicGrowth? New Evidence from the First Era of Financial Globalization

Schularick, Moritz; Steger, Thomas - CESifo - 2006

Does international financial integration boost economic growth? The question has been discussed controversially for a long time. As of yet, robust evidence for a positive impact is lacking (Edison et al., 2002). However, there is substantial narrative evidence from economic history that...

Persistent link: https://www.econbiz.de/10005406203