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Is finance good for growth? : new evidence from China

Chen, Jingzhu; Ji, Yuemei - 2022

We study the relationship between finance and growth using a sample of 275 Chinese cities during 2009-2018. We exclude a large amount of bank loans to local governments through the local government financing vehicles (LGFVs). This allows us to construct a new and better financial development...

Persistent link: https://www.econbiz.de/10013337564

Is the relationship between financial development and economic growth monotonic? : evidence from a sample of middle income countries

Samargandi, Nahla; Fidrmuc, Jan; Ghosh, Sugata - 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/10010340261

The impact of economic globalization on the shadow economy in Egypt

Farzanegan, Mohammad Reza; Hassan, Mai - 2017 - This version: 24.03.2017

This study examines the economic globalization and the shadow economy nexus in Egypt. Using time series data from 1976 … to 2013, the impulse response analysis shows that the response of the shadow economy in Egypt to positive shocks in … globalization by reducing the costs of doing business and trade in dealing with sizable shadow economy in Egypt. …

Persistent link: https://www.econbiz.de/10011645904

The changing patterns of investment in the PRC economy

Holz, Carsten A. - 2017

The investment-intensive growth model of the People's Republic of China (PRC) is often viewed as state-driven and ultimately unsustainable. But largely unnoticed, a shift has taken place. This paper examines the changes in investment patterns since 2003 and the potential impact of industrial...

Persistent link: https://www.econbiz.de/10011657882

China's investment rate : implications and prospects

Holz, Carsten A. - 2017

For the past nearly forty years, China has experienced average annual real GDP growth of close to ten percent, much of it driven by investment and capital accumulation. By 2014, gross capital formation had reached 46 percent of aggregate expenditures. This paper documents the role of investment...

Persistent link: https://www.econbiz.de/10011659322

Fiscal rules : historical, modern, and sub-national growth effects

Gründler, Klaus; Potrafke, Niklas - 2020

We examine how fiscal rules influence economic growth. The results show that constitutional fiscal rules promoted growth from the Industrial Revolution until World War II (1789-1950) and also increased modern economic growth (1985-2015). To address selection on unobservables, we conduct a...

Persistent link: https://www.econbiz.de/10012219378

Political stability and economic prosperity : are coups bad for growth?

Blum, Johannes; Gründler, Klaus - 2020

We provide evidence that political instability deteriorates economic growth. We establish this result based on panel difference-in-differences strategies and dynamic panel data models using a large sample of 180 countries, a novel geocoded dataset for 2,660 regions, and micro data for about...

Persistent link: https://www.econbiz.de/10012219694

Financial sector development in Brunei Darussalam : depth, acces, and efficiency : a comparative analysis

Bhattacharyay, Biswanath; Bhattacharyay, Madhurima - 2022

Financial sector development plays an important role in promoting economic growth and welfare of the citizen of a country. On the other hand, financial sector instability or vulnerability, can adversely affect the economic growth and cause major disruptions in the country. This paper examines...

Persistent link: https://www.econbiz.de/10013380870

Long-term growth effects of natural disasters : empirical evidence for droughts

Berlemann, Michael; Wenzel, Daniela - 2015

The ongoing process of climate change goes along with a higher frequency and/or severity of droughts. While the short-term growth consequences of droughts are comparatively well examined, little research has yet been devoted to the question whether and how droughts affect medium and long-term...

Persistent link: https://www.econbiz.de/10011384506

The economic effects of international sanctions : an event study

Gutmann, Jerg; Neuenkirch, Matthias; Neumeier, Florian - 2021

Although international sanctions are a widely used instrument of coercion, their economic effects are still not fully understood. This study uses a novel dataset and an event study approach to evaluate the economic consequences of international sanctions, thereby accounting for pre-treatment...

Persistent link: https://www.econbiz.de/10012500430