This paper investigates the causal relationship between financial development and economic growth in Libya during the … long-run relationship between financial intermediation and nonhydrocarbon output growth. The OLS estimation shows that … financial development has a statistically significant negative effect on real nonhydrocarbon GDP per capita growth. However, the …

China's sectoral trade composition, product quality mix, and import content of processing exports have all changed … substantially during the past decade. This has rendered trade elasticities estimated using aggregate data highly unstable, with more …

Hicksian measure). The distinction between the two measures is important to the extent that trade patterns are inconsistent …

This paper examines the persistence of shocks to the terms of trade, using annual data on 42 Sub-Saharan African … countries between 1960-96. We find that the persistence of terms of trade shocks varies widely—for about half the countries such …-lived terms of trade shocks are typically those that have large shares of petroleum imports in total imports, small shares of …

This paper investigates whether the linkages between economic growth in Russia and growth in other countries in the … includes standard growth determinants as well as Russian economic growth, and which allows for the effects of Russian growth to … vary over time. The paper finds that Russian growth was indeed a significant determinant of regional economic growth prior …

growth over a long period of time. Trade, the financial sector, and remittance flows are all potential channels through which … the U.S. cycle could affect the region. But just how dependent is growth in the region on the U.S.? Using the common …-specific growth drivers tend to be long-lasting shocks, rather than temporary fluctuations. The most cyclically sensitive countries …

The need to revive Euro area growth highlights the importance of the evolution of domestic and external demand in the …

The small states of the Asia and Pacific region face unique challenges in raising their growth potential and living … often face more limited policy tools, policies do matter and can further help build resilience and raise potential growth … improve the composition of public spending in order to foster inclusive growth. Regional solutions should also continue to be …

become a main engine of growth in the United States, we find that U.S. manufacturing exports could provide nonnegligible … growth opportunities going forward. …

The inefficiency of the Italian judicial system has contributed to reduced investments, slow growth and a difficult …