Over the last two decades, cash holdings in nonfinancial firms around the world have increased. This phenomenon is …-sustaining growth based on private consumption and investment. This paper finds that Japanese nonfinancial firms have accumulated cash …

a firm overall performance. Using U.S. state level and state-industry level data, we investigate how output growth is … affected by bank branch deregulation and employment protection occurring over 1972-1993. We find that financial liberalization … positively impact overall state growth but greater workers' rights affects it ambiguously. At the industry level …

We investigate the relation between changes in tax composition and long-run economic growth using a new dataset …-income countries. To our knowledge this is the most comprehensive and up-to-date dataset on tax composition and growth. We find that … increasing income taxes while reducing consumption and property taxes is associated with slower growth over the …

We analyze the growth impact of official development assistance to developing countries. Our approach is different from …-developmental. Second, our specifications allow for the effect of aid on economic growth to occur over long periods. Our results indicate … that developmental aid promotes long-run growth. The effect is significant, large and robust to different specifications …

standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques … UNESCO World Heritage List. We find that there is a positive relationship between the extent of tourism specialization and … economic growth. An increase of one standard deviation in the share of tourism in exports leads to about 0.5 percentage poi …

productivity (TFP) growth using an extensive dataset that includes various measures of productivity and financial openness for a … large sample of countries. We find that de jure capital account openness has a robust positive effect on TFP growth. The … effect of de facto financial integration on TFP growth is less clear, but this masks an important and novel result. We find …

We identify structural breaks in economic growth in 140 countries and use these to define ""growth spells:"" periods of … high growth preceded by an upbreak and ending either with a downbreak or with the end of the sample. Growth spells tend to … be shorter in African and Latin American countries than elsewhere. We find that growth duration is positively related to …

within the World Bank's MAMS model, which is a multisectoral real computable general equilibrium model that incorporates the …