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modern panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this …
Persistent link: https://www.econbiz.de/10014400689
We estimate the respective contributions of institutions, geography, and trade in determining cross-country income levels using recently developed instruments for institutions and trade. Our results indicate that the quality of institutions ""trumps"" everything else. Controlling for...
Persistent link: https://www.econbiz.de/10014401492
We introduce a new suite of macroeconomic models that extend and complement the Debt, Investment, and Growth (DIG …'s properties by analyzing the growth, debt, and distributional consequences of big-push public investment programs with different … mixes of investment in human capital and infrastructure. We show that investment in human capital is much more effective …
Persistent link: https://www.econbiz.de/10012252029
This paper provides empirical support for the view that enhanced economic security fosters private investment and … improved since the mid-1980s; that private investment is mostly influenced by the risk of expropriation, the degree of civil …
Persistent link: https://www.econbiz.de/10014400780
treatment of investment in international law. Most contributions to the multilateral investment framework derive from the World …The substantial increase in foreign direct investment (FDI) in recent years has triggered a discussion of a uniform … restrict their focus on investment to aspects related to international trade and often apply to selected sectors only. A …
Persistent link: https://www.econbiz.de/10014399606
Feldstein and Horioka (1980) argued that the correlation of saving and investment in a cross-section of countries may … investment should be cointegrated over time. Simulations show that the cross-section regressions used in the literature will …
Persistent link: https://www.econbiz.de/10014398034
This study focuses on identifying the main factors that influenced country-specific and aggregate demand for IMF concessional financing between 1986 and 2018 and makes within-period and out-of-period forecasts. We find that the external debt level, inflation, and real effective exchange rate are...
Persistent link: https://www.econbiz.de/10012487316
are derived by combining figures from different estimation methods. We describe and discuss the strengths and weaknesses … of the different estimation methods. We find that the growth of the shadow economy—which is now remarkably large in the …
Persistent link: https://www.econbiz.de/10014399609
This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited support for the conventional wisdom that globalization has increased the degree of...
Persistent link: https://www.econbiz.de/10014404021
Persistent link: https://www.econbiz.de/10011281189