We study the negative correlation between natural resource-abundance and long-term income focusing on the savings-investment … the issue. In this model, savings adjust downwards to income from natural resources, and investment in capital contributes … to knowledge creation, a feature based on endogenous growth theory. We analyze the link from resource income future …

stake can reduce investment in family firms, by reducing the future income they can pledge to external financiers. Using a …-2006 interval, we find that stricter inheritance law is associated with lower investment in family firms, while it leaves investment … unaffected in non-family firms. Moreover, as predicted by the model, inheritance law affects investment only in family firms that …

’ propensities to make physical capital investments; however, dense networks of association reduce capital investment in both the … North and South. Instrumental variables estimates show that social capital affects growth both directly and through … affecting investment in physical capital. Third, social capital contributes positively to the rate of total factor productivity …

energy productivity growth. We draw on the Solow growth model to build a benchmark exogenous framework to explore the basic … growth rates of energy productivity are the same across countries in the balanced growth path equilibrium, but the cross …

that the influence of environment on optimal growth in the long-run may be explained by the detrimental effect of pollution … on life expectancy. It also shows that, in such a case, greener preferences are growth- and welfare-improving even if the …

This article investigates the influence of environmental policy on growth assuming that the channel of transmission … (1985) where growth is driven by a mechanism à la Romer (1986). We demonstrate that environmental policy has an ambiguous … effect on growth in the steady-state when the detrimental impact of pollution on health and lifetime is taken into account …

Data on the growth performances of countries with similar comparative (dis)advantage and political institutions reveal … a striking variation across world regions. While some former autocracies such as the East Asian growth miracles have …

degradation increases in the early stages of growth, but it eventually decreases as income exceeds a threshold level. The present …