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In this paper, we analyze the growth effects of historical and biological ancestry, diversity and financial development in transition economies. We show that the common indicators of ethnolinguistic fractionalization, state history and genetic distance yield significant results and to some...
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How far is the world away from ensuring that every child obtains the basic skills needed to be internationally … competitive? And what would accomplishing this mean for world development? Based on the micro data of international and regional … skills for 159 countries that cover 98.1% of world population and 99.4% of world GDP. We find that at least two-thirds of the …
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Fossil fuels have shaped the European economy since the industrial revolution. In this paper, we analyse the effect of coal and oil on long-run economic growth, exploiting variation at the level of European NUTS-2 and NUTS-3 regions over the last century. We show that an "oil invasion" in the...
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-run panel of real and nominal variables. First, the contribution of world comovements to domestic output growth has decreased …
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We construct a measure of the short-term world interest rate using principal component analysis. Drawing on real … interest rate data for 18 OECD countries for the period 1985 - 2008, persistent deviations from the world interest rate that … that a rise in conditional consumption growth volatility relative to the rest of the world reduces the foreign exchange …
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