We study the relationship between geography and growth. To do so, we first develop a dynamic spatial growth theory with … realistic geography. We characterize the model and its balanced growth path and propose a methodology to analyze equilibria with …

This essay investigates the determinants of the growth performance of Africa. I start by illustrating a broader … institutional development. After reporting results from standard growth regressions, I analyze the role of Africa’s peculiar history …, which has been marked by its colonization experience. Next I discuss the potential growth impact of state fragility, a …

A competitive stock market is embedded into a neoclassical growth economy to analyze the interplay between the … economic growth by raising total factor productivity, but its impact is only transitory. Several predictions on the evolution …

-financial sector to fund the bailout may be inefficient since it weakens its incentive to invest, decreasing growth. Instead, the …

Modern growth theory puts invention on the center stage. Inventions are created by individuals, raising the question …

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

To the layperson, the upward trend in European unemployment is related to the slowdown in economic growth. We argue … that the layperson’s view is correct. The increase in European unemployment and the slowdown in economic growth are related … associated with low growth rates. The model also predicts that the effect of labour taxation differs sharply in countries with …