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Decentralization, social capital and regional convergence

Mauro, Luciano; Pigliaru, Francesco - 2013

By studying the interaction between social capital and decentralization, we show that political decentralization can be a source of divergence across heterogeneous regions. In particular, we claim that since the local endowments of social capital display their effect on the economy mainly...

Persistent link: https://www.econbiz.de/10009757366

Technological diffusion, spatial spillovers and regional convergence in Europe

Paci, Raffaele; Pigliaru, Francesco - 2001

convergence of GDP per worker observed across the European regions, in the absence of data on regional TFP. Second, the spatial … regional convergence in Europe. As for the first issue, our aim is to assess whether the convergence observed across European … regions is due to convergence in technology as well as to convergence in capital-labour ratios. We first develop a growth …

Persistent link: https://www.econbiz.de/10011608798

How Binding is Low Social Capital for Economic Growth? - Further Lessons from the Italian Regional Divide

Pigliaru, Francesco - 2012

decentralization, causing a sudden halt of a twenty-year strong process of regional convergence …

Persistent link: https://www.econbiz.de/10013106241

Technological Diffusion, Spatial Spillovers and Regional Convergence in Europe

Paci, Raffaele; Pigliaru, Francesco - 2012

Persistent link: https://www.econbiz.de/10014134744

The real exchange rate as an instrument of development policy

Razmi, Arslan; Rapetti, Martin; Skott, Peter - 2009

Growth is endogenous in small open economies with substantial hidden or open unemployment, even under constant returns to scale. Growth promoting policies, however, have implications for the balance of trade, and two instruments are needed in order to achieve targets for both the growth rate and...

Persistent link: https://www.econbiz.de/10003879782

Real exchange rates and the long‐run effects of aggregate demand in economies with underemployment

Skott, Peter; Rapetti, Martin; Razmi, Arslan - 2012

Successful economic development to a large extent derives from the mobilization of underemployed resources. Demand policy can play an important role. It is critical, however, to consider balance of payments constraints and to ensure an expansion of investment in the modern sector. A combination...

Persistent link: https://www.econbiz.de/10009523327

Keynesian theory and the AD-AS framework : a reconsideration

Dutt, Amitava Krishna; Skott, Peter - 2005

Contrary to what has been argued by a number of critics, the AD-AS framework is both internally consistent and in conformity with Keynes s own analysis. Moreover, the eclectic approach to behavioral foundations allows models in this tradition to take into account aggregation problems as well as...

Persistent link: https://www.econbiz.de/10011527443

The real exchange rate and economic development

Razmi, Arslan; Rapetti, Martin; Skott, Peter - 2011

Recent empirical studies have found a robust correlation between competitive exchange rates and economic growth in developing economies. This paper presents (i) a formal model to help explain these findings and (ii) econometric evidence on the relation between investment and the real exchange...

Persistent link: https://www.econbiz.de/10009273104

Credit constraints and economic growth in a dual economy

Skott, Peter; Gómez-Ramírez, Leopoldo - 2017

Pervasive credit constraints have been seen as major sources of slow growth in developing economies. This paper clarifies a mechanism through which an inefficient financial system can reduce productivity growth. Using a two-sector model, second, we examine the implications for employment and the...

Persistent link: https://www.econbiz.de/10011721982

Is Dualism Still a Source of Convergence in Europe?

Paci, Raffaele; Pigliaru, Francesco - 1998

productivity convergence observed across the European regions in the 1980s. The potential of an explanation of convergence based in … therefore on convergence) implied by the theory of the dual economy. We use the database Regio-Eu set up by CRENoS, with … of the whole process of convergence. Ignoring such components could lead to misleading interpretations of the relative …

Persistent link: https://www.econbiz.de/10014073863