and short-term planning horizon can also lead to such underinvestment. Subsequently, banks can stimulate growth …

The volatility of unanticipated output growth in income per capita is detrimental to long-run development, controlling … for initial income per capita, population growth, human capital, investment, openness and natural resource dependence … the black box and conditioning the variance of growth shocks on several country characteristics. Natural resource …

—together with standard growth models to frame the role of religion in economic growth. Unifying a growing literature, we argue that … religion can enhance or impinge upon economic growth through all four elements because it shapes individual preferences …

In this paper, we quantitatively assess the welfare implications of alternative public education spending rules. To … only when the policy instrument is successful in smoothing the growth rate of human capital. …

switch to private provision welfare improving for all agents including public employees. …

This paper examines whether growth regressions should incorporate dualism and structural change. If there is a … factor productivity. The paper develops empirical growth models that allow for this effect in a more flexible way than … labour can explain a significant fraction of the international variation in TFP growth. …

explain why presidential democracy leads to faster growth than parliamentary democracy. Third, it is important to distinguish … growth effect of democracy. …

We revisit the relationship between financial development and economic growth in a panel of 52 middle income countries … financial development does not have a linear positive long-run impact on economic growth in this sample. When we consider a non …-linear relationship between financial development and growth, we find an inverted U-shaped relationship between finance and growth in the …