lending by nationwide banks and lower GDP growth. We explain these cross-prefectural differences in banking integration by …

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 …

and short-term planning horizon can also lead to such underinvestment. Subsequently, banks can stimulate growth …

financial integration predict better growth prospects; (c) both advances in financial integration and globalization are … financial integration and globalization indeed foster countries’ growth, and there appears to be no trade-off between these … distinct impact of financial integration and globalization on several dimensions of real activity. We find that: (a) financial …

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 …-linear relationship between financial development and growth, we find an inverted U-shaped relationship between finance and growth in the …

economic growth in 19th century Germany. We apply a structural VAR framework to a new annual data set from 1870 to 1912 that … two-sector growth model. We find that all sectors were affected significantly by shocks from the banking system …, transportation and agriculture. In this regard, the growth patterns in 19th century Germany are reminiscent to those in today …

This paper examines the relationship between financial development, CO2 emissions, trade and economic growth using … is evidence of bidirectional causality between CO2 emissions and economic growth. Economic growth and trade openness are … financial development to economic growth and from trade openness to CO2 emissions is identified. Our empirical results also …

According to the Globalization Paradox, globalization limits the freedom of choice for national governments. Capital …. Fixed factor taxes have the potential to improve welfare by defusing the globalization trilemma through a reduction in the …

This paper examines the impact of capital market integration (CMI) on higher education and economic growth. We take … thereby fosters economic growth. We apply a structural estimation approach to fully track the endogenous mechanisms of the …