Most conventional accounts of India’s recent economic performance associate the pick-up in economic growth with the … liberalization of 1991. This Paper demonstrates that the transition to high growth occurred around 1980, a full decade before … economic liberalization. We investigate a number of hypotheses about the causes of this growth – favourable external …

investment and growth, in practice tax policy is ineffective as an instrument to promote growth. This paper provides evidence to … support this view by examining the predictions of endogenous growth models driven by human capital accumulation. The empirical … effective tax rates. Results show significant investment effects from taxes that are consistent with negligible growth effects …

as a change in the world interest rate. The approach allows for both uncertain individual lifetimes and population growth … unless the sum of the population growth rate and the individual's probability of death equals zero. The government spends on … occur even in well-behaved steady states of the Yaari-Blanchard model, as long as the sum of population growth rate and the …

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 …