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Financing the capital development of the economy: A Keynes-Schumpeter-Minsky synthesis
Mazzucato, Mariana; Wray, Larry Randall - 2015
This paper discusses the role that finance plays in promoting the capital development of the economy, with particular … emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital … the United States. To a large degree, this was because finance, instead of financing the capital development of the …
Persistent link: https://www.econbiz.de/10011545297
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Policy volatility and growth
Chong, Alberto; Gradstein, Mark - 2006
A growing body of recent macroeconomic evidence suggests that volatility is detrimental to economic growth. The channels through which volatility affects growth, however, are less clear; substantive evidence based on disaggregate data is almost non-existent. This paper offers a framework in...
Persistent link: https://www.econbiz.de/10010278247
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Nonlinearities and the Determinants of Inequality: New Panel Evidence
Gravina, Antonio Francesco; Lanzafame, Matteo - 2020
Relying on data for a panel of 90 economies over 1970-2015 and System-GMM estimates, we extend the standard Kuznets-curve empirical framework to investigate how financial development, globalisation and technology affect income inequality. Our findings reveal the presence of significant...
Persistent link: https://www.econbiz.de/10012419723
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Terrorism Financing, Recruitment and Attacks: Evidence from a Natural Experiment
Limodio, Nicola - 2019
finance and the attacks by organisations exposed to this transfer. The effect of financing on attacks increases in recruitment …
Persistent link: https://www.econbiz.de/10013342559
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Does too much finance harm economic growth?
Singh, Nirvikar; Law, Siong Hook - 2013
This study provides new evidence on the relationship between finance and economic growth using an innovative dynamic … there is a threshold effect in the finance-growth relationship. In particular, we find that the level of financial … development is beneficial to growth only up to a certain threshold; beyond the threshold level further development of finance …
Persistent link: https://www.econbiz.de/10010369492
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Government financing in an endogenous growth model with financial market restrictions
Espinosa-Vega, Marco A.; Yip, Chong K. - 2000
government finance is growth-reducing but deflationary. From a welfare perspective, the least distortionary way of financing an …
Persistent link: https://www.econbiz.de/10010397468
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A public finance analysis of multiple reserve requirements
Espinosa-Vega, Marco; Russell, Steven - 1999
This paper analyzes multiple reserve requirements of the type that have been imposed by a number of developing countries. We show that previous theoretical work on this topic has not succeeded in providing a social welfare rationale for the existence of multiple reserve requirements. We go on to...
Persistent link: https://www.econbiz.de/10010397490
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A public finance analysis of multiple reserve requirements
Espinosa-Vega, Marco; Russell, Steven - 1998
This paper analyzes multiple reserve requirements of the type that have been imposed by a number of developing countries. We show that previous theoretical work on this topic has not succeeded in providing a social welfare rationale for the existence of multiple reserve requirements: in the...
Persistent link: https://www.econbiz.de/10010397493
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Building the entrepreneurial state: A new framework for envisioning and evaluating a mission-oriented public sector
Mazzucato, Mariana - 2015
Today, countries around the world are seeking "smart" innovation-led growth, and hoping that this growth is also more "inclusive" and "sustainable" than in the past. This paper argues that such a feat requires rethinking the role of government and public policy in the economy - not only funding...
Persistent link: https://www.econbiz.de/10010513032
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What do we know about the labor share and the profit share? Part II: Empirical studies
Giovannoni, Olivier - 2014
In this second part of our study we survey the rapidly expanding empirical literature on the determinants of the functional distribution of income. Three major strands emerge: technological change, international trade, and financialization. All contribute to the fluctuations of the labor share,...
Persistent link: https://www.econbiz.de/10010513059