is associated with a fall in output growth and a recovery thereafter, while for reversal events there is no systematic … evidence of a growth slowdown. …

We consider a neoclassical growth model with endogenous corruption. Corruption and wealth, which are co-determined in … corruption, and if indeed as suggested by a number of empirical studies corruption hampers growth, then how did rich countries … corruption on wealth depends on the economy’s degree of openness using cross-country data. …

Cross-country evidence is presented on resource dependence and the link between volatility and growth. First, growth … depends negatively on volatility of unanticipated output growth independent of initial income per capita, the average … investment share, initial human capital, trade openness, the national income share of natural resource exports and population …

markets. In line with a large recent literature, it is reasonable to expect that financial integration will have a ‘growth … dividend’ in Europe. This Paper attempts to quantify this growth dividend, using both industry and firm-level data to estimate … the empirical relationship between financial market development and growth, and to gauge how it will distribute itself …

financial integration in terms of economic growth than other developing countries in the years preceding the current crisis. We …

. Rather than being a key condition for subsequent growth, gains in market efficiency and growth might have occurred … simultaneously. We discuss the implications of these findings for a number of explanations for long-run growth and the Industrial …

markups. Using disaggregated data for EU manufacturing over the period 1988-2000 we find increased openness exerts a negative … and significant impact on sectoral prices. Increased openness lowers prices by both reducing markups and raising … productivity. In response to an increase in openness, markups show a steep short run decline, which partly reverses later, while …

has a positive and significant impact on a country’s level of openness. Domestic tariffs have no statistically significant …

paper we use the cross-country and time-series variation in openness to study the relationship between trade and finance in … more detail. Our results suggest that increases in goods market openness are typically followed by sustained increases in …