years, accompanied by a steep rise in unemployment, which would be around 11.5% in 2010 in the euro area. However, labour … soften the impact of much higher unemployment levels on Europe's potential rate of growth in the future. …

trend in unemployment, which appears to be related to the slowdown of economic growth. However, the relation between … unemployment and a slowing growth pattern stems from an external variable: a rapid increase in the cost of labor. There are many …, therefore creating unemployment. Second, because the cost of labor rises, firms will begin replacing labor with capital until …

The objective of this study is to analyze the impact of institutions on the economic growth and examine whether the … institutions indeed are important in determining the long-run economic growth. However, the impact of the institutions on economic … institutions are more effective in developed region as compared to developing region. More specially, control over corruption, rule …

foreign technologies and establish institutions favorable to economic growth. I explore the threshold between the seemingly … reaching a certain threshold, however, the primary driver of economic growth appears to shift from geography to institutions. …

Much empirical research has highlighted the importance of institutions and initial conditions in the transition to a …