the context of two partial equilibrium endogenous growth models. In our first model, the scale of fickle outside … investment funds traces out a mean-variance tradeoff for the growth rate of the economy. In particular, the volatility of these … regulation of outside investment may increase growth. Our second model involves increasing returns and multiple equilibria. In …

We outline six facts that should be explained by an international growth model: 1) Conditional convergence; 2) cross …-country dispersion of growth rates; 3) cross-country dispersion of per capita income levels; 4) cross-country dispersion of savings rates … growth model based on the work of Lucas and Romer that can account for all of our stylized facts. Our model accounts for the …

output and achieve growth through extreme specialization in response to shifting comparative advantage. …

. There is a growth externality in the tradable sector and agents have imperfect access to international financial markets. By … the tradable sector that boosts growth. Financial frictions generate imperfect substitutability between private and public … reserve accumulation, growth and current account surpluses. The possibility of using reserves to provide liquidity during …

trade in explaining British living standards or growth rates. We construct a three-region model of the world in which … contrast is robust to a large range of parameter perturbations. Biased technological change and population growth were key in …

The relationship between the overall intensity of competition in an economy and its long-run growth is an open question … more competition leads to more innovation and accelerates productivity growth. To complement these findings and capture … trade liberalisation on growth. Our findings indicate that the effectiveness of antitrust and competition policy enforcement …

This paper reinterprets a simple model of growth and fluctuations across many economies to allow for the explicit …, little convergence. The analysis uncovers some `convergence club'-like dynamics, and reveals the wide diversity in growth …

According to the Washington Consensus, developing countries’ growth would benefit from a reduction in tariffs and other … barriers to trade. But a backlash against this view now suggests that trade policies have little or no impact on growth. If … treatment, liberalizing tariffs on imported capital and intermediate goods, did lead to faster GDP growth, and by a margin …