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-linear relationship between financial development and growth, we find an inverted U-shaped relationship between finance and growth in the …We revisit the relationship between financial development and economic growth in a panel of 52 middle income countries … financial development does not have a linear positive long-run impact on economic growth in this sample. When we consider a non …
Persistent link: https://www.econbiz.de/10010757725
This paper presents an analysis of the effect of bureaucratic corruption on economic growth through a public finance … seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the …
Persistent link: https://www.econbiz.de/10005181368
and short-term planning horizon can also lead to such underinvestment. Subsequently, banks can stimulate growth …
Persistent link: https://www.econbiz.de/10008853853
While various empirical studies have found negative growth-effects of natural disasters, little is yet known about the … microeconomic channels through which disasters might affect short- and especially long-term growth. This paper contributes to …
Persistent link: https://www.econbiz.de/10011277182
The volatility of unanticipated output growth in income per capita is detrimental to long-run development, controlling … for initial income per capita, population growth, human capital, investment, openness and natural resource dependence … the black box and conditioning the variance of growth shocks on several country characteristics. Natural resource …
Persistent link: https://www.econbiz.de/10005000394
-driven comparative studies about the impact of autocratic transition on real per capita GDP. The applied methodology compares the growth … of countries that experienced a transition to autocracy with the growth of a convex combination of similar countries that …
Persistent link: https://www.econbiz.de/10008572505
We compare and contrast the economic growth performance of Estonia and Georgia since the collapse of the Soviet Union … in 1991 in an attempt to understand better the extent to which the growth differential between the two countries can be … traced to increased efficiency in the use of capital and other resources (intensive growth) as opposed to brute accumulation …
Persistent link: https://www.econbiz.de/10005406105
Does international financial integration boost economic growth? The question has been discussed controversially for a … narrative evidence from economic history that highlights the contribution European capital made to economic growth ofperipheral … was indeed a significant and robust growth effect. Our theoretical explanation stresses property rights protection as a …
Persistent link: https://www.econbiz.de/10005406203
lack adequate financing, which hampers their growth. As a consequence, governments have implemented a number of programs to … more willing to lend to SMEs. In this paper, we directly ask banks (the main providers of SME external finance) what …
Persistent link: https://www.econbiz.de/10004979421
In this paper we study the effect of institutional reform on the decision to hold risky assets at the extensive and the intensive margin. We therefore make use of the natural experiment of German Division and Reunification and, based on savings bank customer data from German savings banks, study...
Persistent link: https://www.econbiz.de/10010765492