This paper analyses the short- and long-run effects of trade openness on financial development in a panel including …

residuals of the policy rule equation at these shock dates accordingly. In spite of its utmost agnostic nature, this approach …

strategy exploits the heterogeneous impact of the shock on importers. The results indicate that this relatively minor, non …-localized shock had a non-trivial economic impact on exposed firms and propagated downstream through affected suppliers. Additional … empirical tests, motivated by a simple theory, demonstrate that low-liquidity firms amplified its transmission …

economies. Panel-based regression results are suggestive of the presence of the Joneses effect, especially in the post-1997 … crisis period. Individual economy estimation results, however, show that the Joneses effect varies across economies …

growth across the globe. In a large sample of countries, equality in the distribution of income as measured by the World Bank … and by The Standardized World Income Inequality Database are seen to be correlated with economic diversification, the rule … in the World Values Survey, and democracy, all of which are good for growth as reflected in the purchasing power of per …