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Is the Relationship between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle Income Countries
Samargandi, Nahla; Fidrmuc, Jan; Ghosh, Sugata - CESifo - 2014
We revisit the relationship between financial development and economic growth in a panel of 52 middle income countries over the 1980-2008 period, using pooled mean group estimator in a dynamic heterogeneous panel setting. We show that financial development does not have a linear positive...
Persistent link: https://www.econbiz.de/10010757725
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Financial Development and Sectoral Output Growth in 19th Century Germany
Diekmann, Katharina; Westermann, Frank - CESifo - 2010
In this paper we re-evaluate the hypothesis that the development of the financial sector was an essential factor behind economic growth in 19th century Germany. We apply a structural VAR framework to a new annual data set from 1870 to 1912 that was initially recorded by Walther Hoffmann (1965)....
Persistent link: https://www.econbiz.de/10008833900
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Financial Devlopment, Environmental Quality, Trade and Economic Growth: What Causes What in MENA Countries?
Omri, Anis; Daly, Saida; Rault, Christophe; Chaibi, Anissa - CESifo - 2015
This paper examines the relationship between financial development, CO2 emissions, trade and economic growth using simultaneous-equation panel data models for a panel of 12 MENA countries over the period 1990-2011. Our results indicate that there is evidence of bidirectional causality between...
Persistent link: https://www.econbiz.de/10011165503
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Economic Growth in Africa : Comparing Recent Improvements with the 'Lost 1980s and Early 1990s' and Estimating New Growth Trends
Leibfritz, Willi - 2013
In the first part of the paper we look at economic growth in Africa over the past three decades. We divide the past …. During the first period, Africa did not catch up but lost ground, Africa's average per capita income declined. Since the mid … growth rates for Africa and several individual countries. We use the Hodrick-Prescott filter with different values for the …
Persistent link: https://www.econbiz.de/10013082614
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Energy Consumption and Economic Growth Revisited in African Countries
Eggoh, Jude Comlanvi - 2014
The aim of this paper is to provide new empirical evidence on the relationship between energy consumption and economic growth for 21 African countries over the period from 1970 to 2006, using recently developed panel cointegration and causality tests. The countries are divided into two groups:...
Persistent link: https://www.econbiz.de/10013067360
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A Convex Hull Approach to Counterfactual Analysis of Trade Openness and Growth
Funke, Michael - 2009
with the literature arguing that greater trade openness would unequivocally lead to higher growth in Africa …
Persistent link: https://www.econbiz.de/10013158311
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Elite Education, Mass Education, and the Transition to Modern Growth
Strulik, Holger - 2015
We propose an innovation-driven growth model in which education is determined by family background and cognitive ability. We show that compulsory schooling can move a society from elite education to mass education, which then triggers market R&D. This means that our model rationalizes two...
Persistent link: https://www.econbiz.de/10013009852
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Energy Use and Economic Growth in Africa : A Panel Granger-Causality Investigation
Arouri, Mohamed El Hedi - 2014
African countries over the period 1988-2010. Our results show that growth and energy use are strongly linked in Africa … may work for all countries in Africa …
Persistent link: https://www.econbiz.de/10013051383
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Why is China Investing in Africa? Evidence from the Firm Level
Chen, Wenjie - 2016
China's increased trade with and investment in Africa have boosted the continent's economic growth but have also … generated considerable controversy. In this paper we investigate China's outward direct investment ODI in Africa using macro and … registered Chinese firms investing in Africa between 1998 and 2012. We use key words in project descriptions to code the …
Persistent link: https://www.econbiz.de/10012987345
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Energy Consumption and Economic Growth Revisited in African Countries
Eggoh, Jude C.; Bangaké, Chrysost; Rault, Christophe - CESifo - 2011
The aim of this paper is to provide new empirical evidence on the relationship between energy consumption and economic growth for 21 African countries over the period from 1970 to 2006, using recently developed panel cointegration and causality tests. The countries are divided into two groups:...
Persistent link: https://www.econbiz.de/10009320785