Showing 1 - 10 of 192
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This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A … fully developed countries. An extension towards a two-region world economy shows robustness of the gradual take-off and …
Persistent link: https://www.econbiz.de/10009665630
Noting that "one size does not fit all" in the case of the finance-growth (FG) nexus, a growing body of literature has recently focused on uncovering economic conditions under which financial development could be beneficial (detrimental) to economic development. We look into these conditions by...
Persistent link: https://www.econbiz.de/10009752169
There has been a wide debate on whether democracy actually has an effect on economic outcomes, and especially on international trade. With a new estimation strategy, we analyze this relationship taking a look at the distribution of countries ́trading activity. Using a panel quantile estimation...
Persistent link: https://www.econbiz.de/10010513375
This paper evaluates the performance of alternative estimation methods for multiplicative and log models with heteroskedasticity. Contrary to Santos Silva and Tenreyro (2006), the results of a simulation study indicate that the Pseudo Poisson Maximum Likelihood estimator (PPML) is not always the...
Persistent link: https://www.econbiz.de/10003484027
We focus on the role that the transmission of information between a multilateral (e.g., the IMF) and a country has for optimal (conditional) reform design. The main result is that the informational advantage of the country must be strictly greater than the advantage of the multilateral in order...
Persistent link: https://www.econbiz.de/10003850746
Applied general and partial equilibrium models are widely used tools for ex ante analysis of trade policy changes. However, simulation results seem to exhibit significant variation across publications, and the often criticised 'black box' character of applied trade models makes meaningful...
Persistent link: https://www.econbiz.de/10003525570
The past literature presents ambiguous evidence about the bidirectional and causal influences between countries ́institutional framework and their trading activity. In our analysis, we investigate the relationship between institutions and trade constructing a measure of institutions from the...
Persistent link: https://www.econbiz.de/10011436785
This paper presents a theoretical gravity model of trade in which foreign aid is considered as a transfer instead of being part of the trade cost, as it has been previously done in the related literature. We argue that the usual specification leads to invalid out-of-sample predictions, biased...
Persistent link: https://www.econbiz.de/10011521275