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There is growing interest in multi-sector models that combine aggregate balanced growth, consistent with the well … intensive in the input that becomes more abundant. As a result, growth rates of sectoral capital-labor ratios can differ and, if …
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This paper examines the effects that windfalls from international commodity price booms have on net foreign assets in a panel of 145 countries during the period 1970-2007. The main finding is that windfalls from international commodity price booms lead to a significant increase in net foreign...
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Measured rates of growth in real per capita income differ drastically depending on the data source. This phenomenon …. Replication of several recent studies of growth determinants shows that results are sensitive in important ways to the choice of …-country patterns over time (growth rates) have been largely ignored at the cost of possibly contaminating the conclusions …
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The perpetual inventory method used for the construction of education data per country leads to systematic measurement error. This paper analyses the effect of this measurement error on GDP regressions. There is a systematic difference in the education level between census data and observations...
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This paper presents an analysis of the effect of bureaucratic corruption on economic growth through a public finance … seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the … of the government's budget constraint, we find strong evidence to support these predictions under different estimation …
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