growing. The paper investigates the impact of exchange rate stability on growth for a sample of 41 mostly small open economies … important transmission channels from exchange rate stability to more growth. It is argued that fixed exchange rates provide a … accelerating growth. Panel estimations reveal a robust negative relationship between exchange rate volatility and growth for …

I analyze output growth, volatility, and skewness as the joint outcomes of financial openness. Using an industry panel … of 53 countries over 45 years, I find that financial openness increases simultaneously mean growth and the negative … skewness of the growth process. The increase in output skewness appears to come from a more negatively skewed distribution of …

Workers’ remittances have become the second largest source of net financial flows to developing countries. However, the … main motives for sending remittances remain controversial. This paper examines the importance of altruistic versus … investment motive. Finally, migrants’ skills raise remittances, while a large informal economy in the sending country depresses …

Workers' remittances have become the second largest source of net financial flows to developing countries. However, the … main motives for sending remittances remain controversial. This paper examines the importance of altruistic versus … investment motive. Finally, migrants' skills raise remittances, while a large informal economy in the sending country depresses …

-term growth. We find that financial markets increase substantially the speed with which the observed sectoral allocation of output … faster for sectors that have a higher "natural" long-term risk-adjusted growth and which exhibit higher information frictions …

We investigate the impact of movements in the real exchange rate on economic growth based on five-year average data for … to deal with possible reverse causality from growth to the real exchange rate. Our country-specific instruments are (i …) global capital flows interacted with individual countries' financial openness and (ii) the growth rate of official reserves …

and economic growth. This paper argues that a key reason for the elusive evidence is the presence of a time …-varying relationship between openness and growth over time: countries tend to gain in the short-term, immediately following capital account … liberalisation, but may not grow faster or even experience temporary growth reversals in the medium- to long-term. The paper finds …