We propose a multisector endogenous growth model incorporating social capital. Social capital only serves as input in the production of human capital and it involves a cost in terms of the final good. We show that in contrast to existing alternative specifications, this setting assures that...

The objective of this paper is to investigate the impacts of urbanization on human capital andeconomic growth in Africa. It seeks to contribute to the urbanization-growth debate byinvestigating how urbanization is linked to human capital accumulation and economic growth.More precisely, compared...

This papers provides an empirical analysis of the role of financial development and financial integration in the growth dynamics of transition countries. We focus on the role of financial integration in determining the impact of financial development on growth, distinguishing "normal times" from...

In their already-famous 2010 article "Growth-in-a-Time-of-Debt" (AER-100(2)-pp.-573-78), Carmen Reinhart and Kenneth Rogoff show that average post-WW2 economic growth is dramatically declining in advanced economies, once the debt-to-GDP ratio is above a 90% threshold. We explore the relevance of...

The procedures presented in this paper provide a dynamic apparatus of crediting the industrial operating systems with the assignment to avoid their correlated defaulting, to conserve general safety and soundness and improve its ability to serve as a source for sustainable growth for economy. The...

Building on the existing literature, a synthetic approach intended to ease the understanding of the notion of inequality of opportunity is developed. In turn, this paper tests a convincing hypothesis explaining the mixed evidence found by empirical studies regarding the instrumental effect of...

We build a model that takes into consideration the evolution of health over the life cycle and its consequences on individual optimal choices. In this framework, the effect of environmental taxation are not limited to the traditional negative crowding-out and positive productivity effects. We...

The link between transport and economic growth is nowadays understood behind the so-called issue of coupling. Transport intensity or transport elasticity to economic production are generally used to assess the link. In this paper, road freight intensity is decomposed into four factors. A...

This paper aims at analyzing the possible influence of foreign direct investment (FDI) on economic growth in the particular case of Middle East and North African countries (MENA). During the last years, the relation between FDI and growth in LDCs has been discussed extensively in the economic...