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country size; that income growth will be a U-shaped function of initial income thus creating differentiated convergence; and …
Persistent link: https://www.econbiz.de/10012619417
The ultimate object of research concerning the Euro is to answer the following questions: (#1) What is the equilibrium trajectory of the nominal euro, measured as dollars/euro? (#2) To what extent has the equilibrium nominal euro been determined by relative prices (PPP), and to what extent has...
Persistent link: https://www.econbiz.de/10011399350
This paper offers a reappraisal of the impact of migration on economic growth for 22 OECD countries between 1986 … capital on GDP per capita, and second, a permanent increase in migration ows has a positive effect on productivity growth …. However, the growth impact of immigration is small even in countries that have highly selective migration policies. …
Persistent link: https://www.econbiz.de/10010533072
the volume of FDI by home market banks boosts FDI by non-financial firms from the same home market. Domestic and third … countries, rather than for its international clients, and on the literature on foreign direct investment (FDI), which emphasizes … significant costs of investment. Using a new detailed data set of non-stationary sector-level outward FDI, this paper finds that …
Persistent link: https://www.econbiz.de/10009153880
This paper presents a new explanation for the sustained pattern of international net capital flows by modifying the standard consumption capital asset pricing model (CCAPM) to create net capital flows beyond the initial period. In addition to the well established link between asset returns and...
Persistent link: https://www.econbiz.de/10012119780
threshold effects of foreign direct investment (FDI) in the relationship between growth and inequality by applying the standard … significantly influenced by a single threshold in FDI: for FDIi>ô, economic growth and inequality can have an inverse relationship … between economic growth and income inequity. We develop a simple model to establish that economic growth and inequality can …
Persistent link: https://www.econbiz.de/10010531112
"relocation" mobility of firms leads to increasing "net" tax revenues under fairly weak conditions. While enhanced relocation … in which two governments are first engaged in subsidy competition and thereafter in tax competition, and firms locate and …
Persistent link: https://www.econbiz.de/10003808634
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 …
Persistent link: https://www.econbiz.de/10003832092
corrects for endogeneity of resource exports and allows resource abundance affect growth. Their results show that resource … exports are no longer significant while the value of subsoil assets has a significant positive effect on growth. But the World … longer significant. However, the same evidence suggests that resource exports or rents boost growth in stable countries, but …
Persistent link: https://www.econbiz.de/10003956035
and bad growth prospects, and that these adverse effects are more severe in volatile countries with bad institutions and …
Persistent link: https://www.econbiz.de/10003986863