. On the basis of observed growth in sectoral value-added output, we calculate for each state the efficient frontier for … primarily from convergence in the volatility of state output growth, rather than in its average. The realized industry shares of …

. On the basis of observed growth in sectoral value added output, we calculate for each state the efficient frontier for … volatility of state output growth, rather than in its average. The realized industry shares of output also converge faster to …

. Growth is sustained by the development of new varieties of intermediate goods. Innovation is risky and the probability of … faster growth. Under plausible assumptions, the resulting changes in factor prices lower the relative cost of monitoring …

almost every measure of economic performance, such as GDP growth, investment, government finances, growth in inequality and … comes from foreign direct investment. This article finds little evidence that finance has lead to increased growth in the … transition countries; in fact, financial expansion has in some countries lead to soft budget constraints and undermined growth …

This paper investigates the growth impact of banking crises on industries with different levels of dependence on … growth in value added between the crisis and pre-crisis period than a sector at the 25th percentile of external dependence … and private credit to GDP. This effect is sizeable compared with an overall mean decline in growth of 3.5 percent between …