This paper investigates the impact of natural disasters on the long-term macroeconomic performance of a country. More specifically, we want to see whether the impact of natural disasters on economic growth is uniform across countries or it is differentiated according to the macroeconomic policy...

Using nonparametric estimation techniques we find that, in contrast to recent research, the finance-growth relationship is linear when the previously documented nonlinearity between initial per capita income, human capital and economic growth is taken into account.

Using nonparametric estimation techniques we find that, in contrast to recent research, the finance-growth relationship is linear when the previously documented nonlinearity between initial per capita income, human capital and economic growth is taken into account.