Crowding-out during the British Industrial Revolution has long been one of the leading explanations for slow growth …, and that the magnitude of the effect is important enough to explain at least partly why British growth during the period …

We study the relationship between geography and growth. To do so, we first develop a dynamic spatial growth theory with … realistic geography. We characterize the model and its balanced growth path and propose a methodology to analyze equilibria with …

This essay investigates the determinants of the growth performance of Africa. I start by illustrating a broader … institutional development. After reporting results from standard growth regressions, I analyze the role of Africa’s peculiar history …, which has been marked by its colonization experience. Next I discuss the potential growth impact of state fragility, a …

A competitive stock market is embedded into a neoclassical growth economy to analyze the interplay between the … economic growth by raising total factor productivity, but its impact is only transitory. Several predictions on the evolution …

-financial sector to fund the bailout may be inefficient since it weakens its incentive to invest, decreasing growth. Instead, the …