Cover -- Contents -- I. Introduction -- II. The Theoretical Framework -- A. The Household Sector -- Consumption and Saving -- Labor Supply -- B. The Production Sector -- Output Demand -- Labor Demand and Investment -- Output Supply -- C. The Banking Sector -- Credit Demand -- Funding Demand and...

This paper explores the connection between interest rates in major industrial countries and annual real output growth in other countries. The results show that high large-country interest rates have a contractionary effect on annual real GDP growth in the domestic economy, but that this effect...

This paper uses new data and new econometric techniques to investigate the impact of international financial integration on economic growth and also to assess whether this relationship depends on the level of economic development, financial development, legal system development, government...

The global financial crisis was a stark reminder of the importance of cross-country linkages in the global economy. We document growth synchronization across a diverse group of 185 countries covering 7 regions, and pay particular attention to the period around the global financial crisis. A...

This paper surveys the literature on the relationship between international trade and inclusive growth. It examines claims that the rise in inequality in many countries can be attributed to the concurrent rise in trade competition, especially from EMEs like China, spurring trade tensions and...

This paper empirically examines the extent to which a country''s economic growth is influenced by its trading partner economies. Panel estimation results based on four decades of data for over 100 countries show that trading partners'' growth and relative income levels have a strong effect on...