We build and estimate a structural dynamic general equilibrium model of growth and trade. Trade affects growth through …, growth affects trade, directly through changes in country size and indirectly through altering the incidence of trade costs …. Theory translates into an intuitive econometric system that identifies the causal impact of trade on income and growth, and …

We examine whether government ideology was correlated with the growth in military expenditure in Germany over the … growth in military expenditure increased by about 2.4 percentage points, when the ideology variable (right-wing) increased by …

We focus on the link between political instability due to uncertain electoral outcomes and economic growth, through the … impact on a government's decisions on how to allocate government expenditure between public consumption and investment. Using … an endogenous growth model with partisan electoral effects, we demonstrate that political uncertainty will generate a …

more favourable loan package; that it is associated with over-investment even when investment does not create collateral … higher growth. Our analysis accommodates costly signaling for gaining credibility and also assigns a novel role to spending …

productive and active VC industry boosts innovation driven growth. …

We explore the impact of large banks and of financial openness for aggregate growth. Large banks matter because of …-level do not cancel out in the aggregate but can affect macroeconomic outcomes. Financial openness may affect GDP growth in and …. Second, financial openness lowers GDP growth. Third, granular effects tend to be stronger in financially closed economies. …

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. …