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Productive Government Expenditure and Economic Growth

Irmen, Andreas; Kuehnel, Johanna - CESifo - 2008

We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study...

Persistent link: https://www.econbiz.de/10005196238

Public Capital and Income Distribution: a Marriage of Hicks & Newman-Read

Getachew, Yoseph - United Nations University, Maastricht Economic and … - 2008

This paper examines how publicly provided inputs could affect income distribution. By applying the Newman-Read production function- a generalized Cobb-Douglas production function- to Hicks's idea of the determinant of factor share, such usually complex dynamics remain analytically tractable. The...

Persistent link: https://www.econbiz.de/10005451560

A Pair-Wise Approach to Testing for Output and Growth Convergence

Pesaran, M. Hashem - CESifo - 2004

This paper proposes a pair-wise approach to testing for output convergence that considers all N(N-1)/2 possible pairs … of log per capita output gaps across N economies. A general probabilistic definition of output convergence is also …-2000. Overall, the results do not support output convergence, and suggest that the findings of convergence clubs in the literature …

Persistent link: https://www.econbiz.de/10005766053

Government Ideology in Donor and Recipient Countries: Does Political Proximity Matter for the Effectiveness of Aid?

Dreher, Axel; Minasyan, Anna; Nunnenkamp, Peter - Institut für Weltwirtschaft (IfW) - 2013

Political proximity between donor and recipient governments may impair the effectiveness of aid by encouraging favoritism. By contrast, political misalignment between donor and recipient governments may render aid less effective by adding to transaction costs and giving rise to incentive...

Persistent link: https://www.econbiz.de/10010886870

The finance-growth nexus revisited: From origins to a modern theoretical landscape

Stolbov, Mikhail - Institut für Weltwirtschaft (IfW) - 2012

The paper is a survey of theoretical and empirical approaches applied to analyze the impact of financial system on economic growth. The key issues of the modern theories of the finance-growth nexus are discussed and the theories are classified on the basis of the methodology they rely on. The...

Persistent link: https://www.econbiz.de/10010956028

Equity market liberalization, credit constraints and income inequality

Sun, Puyang; Sen, Somnath; Jin, Shujing - Institut für Weltwirtschaft (IfW) - 2012

This paper provides compelling evidence that equity market liberalization, the most efficient way to smooth financial market frictions such as credit constraints, can alleviate persistent cross-dynastic income inequality through increasing the accumulation of human capital. We examine the impact...

Persistent link: https://www.econbiz.de/10010956105

Is the Relationship between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle Income Countries

Samargandi, Nahla; Fidrmuc, Jan; Ghosh, Sugata - CESifo - 2014

We revisit the relationship between financial development and economic growth in a panel of 52 middle income countries over the 1980-2008 period, using pooled mean group estimator in a dynamic heterogeneous panel setting. We show that financial development does not have a linear positive...

Persistent link: https://www.econbiz.de/10010757725

Malthus' Revenge

Soete, Luc - United Nations University, Maastricht Economic and … - 2009

In this paper, we take inspiration from Thomas Malthus' hypothesis that food shortage and hunger would remain "nature's last most dreadful resource" and that "the power of population is so superior to the power of the earth to produce subsistence for man, that premature death must in some shape...

Persistent link: https://www.econbiz.de/10008629996

Types of Entrepreneurship and Economic Growth

Stam, Erik; Stel, Andre van - United Nations University, Maastricht Economic and … - 2009

In this paper, we empirically investigate the effect of entrepreneurship on economic growth at the country level. We use data from the Global Entrepreneurship Monitor, which provides comparative data on entrepreneurship from a wide range of countries. An important element of this paper is that...

Persistent link: https://www.econbiz.de/10008629999

Geopolitics, Aid and Growth

Dreher, Axel; Eichenauer, Vera; Gehring, Kai - CESifo - 2013

We investigate the effects of short-term political motivations on the effectiveness of foreign aid. Donor countries’ political motives might reduce the effectiveness of conditionality, channel aid to inferior projects or affect the way aid is spent in other ways, reduce the aid bureaucracy’s...

Persistent link: https://www.econbiz.de/10010671571