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 …

turn, slowed down growth. In this essay a preliminary reconstruction of the balance of payments on current account allows …

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 …

Many papers have explored the relationship between average tariff rates and economic growth, when theory suggests that … the structure of protection is what should matter. We therefore explore the relationship between economic growth and … 1913. Industrial tariffs were positively correlated with growth. Agricultural tariffs were negatively correlated with …

between economic policies and the growth record is examined. Although a gradual reduction in macroeconomic distortions was …-market allocation of resources and allowed Spain to accelerating growth and catching up with Western Europe. Without the 1959 Plan, per …

of productivity growth, but the effect depends critically on a country's level of financial development. For countries … with relatively low levels of financial development, exchange rate volatility generally reduces growth, whereas for … rate volatility, and outliers. We also offer a simple monetary growth model in which real exchange rate uncertainty …

This paper provides a survey of recent growth models that attempt to explain the cross-country diversity in rates of … economic growth. It shows that these models can only generate differences in growth rates in the absence of international … capital markets. With free international capital mobility they imply that the growth rate of consumption and GNP would be …

Cross-country evidence is presented on resource dependence and the link between volatility and growth. First, growth … depends negatively on volatility of unanticipated output growth independent of initial income per capita, the average … growth. Second, the adverse effect of resources on growth operates primarily through higher volatility. The positive effect …