"The authors use a sample of 147 countries to investigate the link between democracy and reforms. Democracy may be conducive to reforms, because politicians have the incentive to embrace growth-enhancing reforms to win elections. By contrast, authoritarian regimes do not have to worry as much...

Analysis of a panel data set for 1976-98 shows that on balance stock markets and banks positively influence economic growth; findings that do not result from biases induced by simultaneity, omitted variables, or unobserved country-specific effects

The authors analyze sectoral growth in Ecuador using multivariate cointegration analysis. They find significant long-run relationships between the agricultural industrial and service sectors. Moreover, they are able to derive dynamic sector models that combine the short-run links between the...