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Human Capital and Growth: Specification Matters

Sunde, Uwe; Vischer, Thomas - Institute for the Study of Labor (IZA) - 2011

This paper suggests that the weak empirical effect of human capital on growth in existing cross-country studies is partly the result of an inappropriate specification that does not account for the different channels through which human capital affects growth. A systematic replication of earlier...

Persistent link: https://www.econbiz.de/10009323405

Should Easier Access to International Credit Replace Foreign Aid?

Bandyopadhyay, Subhayu; Lahiri, Sajal; Younas, Javed - Institute for the Study of Labor (IZA) - 2011

We examine the interaction between foreign aid and binding borrowing constraint for a recipient country. We also analyze how these two instruments affect economic growth via non-linear relationships. First of all, we develop a two-country, two-period trade-theoretic model to develop testable...

Persistent link: https://www.econbiz.de/10009325434

Race v. Suffrage: The Determinants of Development in Mississippi

Bertocchi, Graziella; Dimico, Arcangelo - Institute for the Study of Labor (IZA) - 2011

We investigate the long term determinants of political and economic outcomes over a new data set composed of Mississippi counties. We analyze the effect of disfranchisement on voting registration at the end of the nineteenth century (1896-9), as well as the impact of voting registration on...

Persistent link: https://www.econbiz.de/10009325443

Aggregate Implications of Innovation Policy

Atkeson, Andrew; Burstein, Ariel T. - National Bureau of Economic Research (NBER) - 2011

We present a tractable model of innovating firms and the aggregate economy that we use to assess the link between the responses of firms to changes in innovation policy and the impact of those policy changes on aggregate output and welfare. We argue that the key theoretical determinant of the...

Persistent link: https://www.econbiz.de/10009328097

Financial Frictions and the Persistence of History: A Quantitative Exploration

Buera, Francisco J.; Shin, Yongseok - National Bureau of Economic Research (NBER) - 2010

We quantify the role of financial frictions and the initial misallocation of resources in explaining development dynamics. Following a reform that triggers efficient reallocation of resources, our model economy with financial frictions converges slowly to the new steady state--it takes twice as...

Persistent link: https://www.econbiz.de/10008680925

Subjective Well-Being, Income, Economic Development and Growth

Sacks, Daniel W.; Stevenson, Betsey; Wolfers, Justin - Institute for the Study of Labor (IZA) - 2010

We explore the relationships between subjective well-being and income, as seen across individuals within a given country, between countries in a given year, and as a country grows through time. We show that richer individuals in a given country are more satisfied with their lives than are poorer...

Persistent link: https://www.econbiz.de/10008682244

Subjective Well-Being, Income, Economic Development and Growth

Stevenson, Betsey; Wolfers, Justin; Sacks, Daniel W. - National Bureau of Economic Research (NBER) - 2010

Persistent link: https://www.econbiz.de/10008682644

Solow or Lucas? Testing Speed of Convergence on a Panel of OECD Countries

Arnold, Jens; Bassanini, Andrea; Scarpetta, Stefano - Institute for the Study of Labor (IZA) - 2010

them as regards the relationship between factor shares and speed of convergence. Using cross-country/time-series data, we … specify our growth regression without imposing cross-country homogeneity restrictions on the speed of convergence and short …-run parameters. Indeed, both theoretical models imply that the speed of convergence to the steady state differs across countries due …

Persistent link: https://www.econbiz.de/10008684808

Cape Verde and Mozambique as Development Successes in West and Southern Africa

Braga de Macedo, Jorge A.; Pereira, Luis Brites - National Bureau of Economic Research (NBER) - 2010

This paper applies an interpretation of how globalization and governance (G&G) interact with convergence given Cape … diversification (an indicator of globalization) and income convergence (an indicator of governance) in the sub-regions of West and … that trade openness drives convergence and export diversification in Western Africa (which is becoming more diversified …

Persistent link: https://www.econbiz.de/10008727868

Slavery, Education, and Inequality

Bertocchi, Graziella; Dimico, Arcangelo - Institute for the Study of Labor (IZA) - 2010

We investigate the impact of slavery on the current performances of the US economy. Over a cross section of counties, we find that the legacy of slavery does not affect current income per capita, but does affect current income inequality. In other words, those counties that displayed a higher...

Persistent link: https://www.econbiz.de/10008742948