This article reviews the literature analysing the importance of infrastructure for economic growth, and performs an econometric estimation to discover the relation between the two variables in the case of Peru. Different estimators are used with panel data from the 24 regions of Peru for the...

The aim of this paper is to analyze the theoretical and econometric implications of omitting spatial dependence in the Mankiw, Romer, and Weil (1992) model. Indeed, the international distribution of income levels and growth rates suggests the existence of large international disparities, and...

This study explores the economic consequences of earthquakes. In particular, it is investigated how exposure to earthquakes aects economic growth both across and within countries. The key result of the empirical analysis is that while there are no observable eects at the country level,...

This paper revisits the work of Richard Cantillon and Francois Quesnay in order to conceptualise the dynamics between rural and urban areas in an economy. Concepts of social surplus and economy as a circular flow are presented in order to highlight the interrelationship between the growth...

In the growth literature, there is a nonlinear relationship between economic growth and government size, which is similar to an inverted U-shaped curve. This curve can be used to determine the optimum share of government expenditures. This paper, using threshold panel approach, attempts to...

The objective of this paper is to estimate an econometric model for analyzing the interrelationship between foreign direct investment, domestic capital and economic growth in 13 MENA countries by using a ‘growth model’ framework and simultaneous-equations models estimated by the Generalized...

This paper examines the relationship between FDI inflows and the economic growth for three African economies (Tunisia, Morocco, and Egypt) during 1985–2011. Our analysis, which is based on a simultaneous equations model, reveals that in overall terms a mutually promoting two-way linkage...

After a short-lived slowdown in the immediate aftermath of the global financial crisis and a swift rebound, emerging markets (EM) are now entering a period of slower growth. In fact, growth is now lower than the post-crisis peak of 2010-11, as well as the rates seen in the decade before the...