There has been a revival of interest in the effect of risk on economic growth. We quantify both ex ante and ex post … effects of risk using a stochastic version of the Ramsey model. We develop a simulation-based econometric methodology which … remarkable long-running panel data set for rural households in Zimbabwe. We find that risk substantially reduces growth: in the …

countries. First, the concepts of uncertainty and risk are elaborated, as well as theirrelevance for entrepreneurship. Second … ownership. This surprisingfinding suggests that a personal trait (risk aversion) and its related cultural characteristic …

How does risk or uncertainty in the productivity of research affect the growth rate of the economy? To answer this …