This paper studies how financial development affects the relation between average growth and growth volatility through … liquidity crises. Then with this mechanism, we show in a macro framework that the relation between average growth and growth … volatility is more likely to be negative in developing countries, but more likely to be positive in developed economies. Finally …

Recent empirical work has shown that current account deficits have been associated with lower growth in developing … countries while they have been associated with higher growth in developed countries. This paper shows that this can be … lower growth. However, the positive relationship between current account balance and growth is dampened with lower …

proportionally during upturns; (iv) average R&D investment and productivity growth are more negatively correlated with sales … volatility in more credit constrained firms. …

This paper models the relationship between growth and volatility for G7 economies in the time period 1960-2009. It … in mean (log-GARCH-M) models, the class of time series models previously used in the literature to estimate the growth-volatility … volatility on output growth, which is not taken into account by log-GARCH-M models. …

of capital. Integration then raises the economy's growth rate. On the contrary, if foreign lenders are not able, due to … supply. Integration then depresses the economy's growth rate, firms cost of capital and the volume of credit extended in the …

’s calibration implying a higher re-hiring probability and lower recruitment costs for unskilled workers, explains the volatility of …