Cross-country regressions suggest that urbanization and FDI are important drivers of growth. However, it is not clear … that primacy eventually hurts growth performance. Since it is tough to interpret cross-country growth regressions, we … growth and unbundling spatial lags matters. Robustness is verified by re-estimating our regressions with fixed effects and …

The paper investigates the impact of exchange rate volatility on growth in Emerging Europe and East Asia. Exchange … stability has been argued to affect growth negatively as it deprives countries from the ability to react in a flexible way to … stability can be argued to affect growth in emerging market economies positively because transaction costs for international …

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 …

We estimate the effect of political regime transitions on growth with semi-parametric methods, combining difference in … parametric estimates may have seriously underestimated the growth effects of democracy. In particular, we find an average … negative effect on growth of leaving democracy on the order of −2 percentage points implying effects on income per capita as …

growth rates of importing countries play an important role in explaining how fast exports fall below the values of the same … trade prior to the crisis are hit by the recession earlier than other products. …