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Linkages Between Financial Variables, Financial Sector Reform and Economic Growth and Efficiency

Johnston, Robert B. - 1995

economic growth and efficiency, using panel data for 40 countries which reformed their financial systems. Financial sector … reform is hypothesized to affect economic growth and efficiency through three main channels: the real interest rate … representing the interest cost of capital, the volume of intermediation, and financial sector efficiency. The results indicate that …

Persistent link: https://www.econbiz.de/10014395836

Measuring income inequality and implications for economic transmission channels

Blotevogel, Robert; Imamoglu, Eslem; Moriyama, Kenji; … - 2020

We study the channels that theoretically transmit the effects of inequality to economic growth, unlike much of the existing literature that focuses on the direct linkage. The role of inequality in these transmission channels is difficult to pin down and varies with the particular inequality...

Persistent link: https://www.econbiz.de/10012301883

Energy, efficiency gains and economic development : when will global energy demand saturate?

Bogmans, Christian; Kiyasseh, Lama; Matsumoto, Akito; … - 2020

acceleration and then saturation at high-income levels. Historical trends in energy efficiency have reduced energy demand, globally …, accounted for about 0.2 percentage points of the energy efficiency gains. At the country level, the decline (rise) of the …

Persistent link: https://www.econbiz.de/10012392616

Finance, growth, and inequality

Levine, Ross - 2021

Finance and growth emerged as a distinct field of economics during the last three decades as economists integrated the fields of finance and economic growth and then explored the ramifications of the functioning of financial systems on economic growth, income distribution, and poverty. In this...

Persistent link: https://www.econbiz.de/10012612328

Can Policies Affect Employment Intensity of Growth? : A Cross-Country Analysis

Furceri, Davide - 2012

The aim of this paper is to provide new estimates of employment-output elasticities and assess the effect of structural and macroeocnomic policies on the employment-intensity of growth. Using an unbalanced panel of 167 countries over the period 1991 - 2009, the results suggest that structural...

Persistent link: https://www.econbiz.de/10014395704

Do Taxes Matter for Long-Run Growth? : Harberger's Superneutrality Conjecture

Asea, Patrick K. - 1995

Harberger’s superneutrality conjecture contends that, although in theory the mix of direct and indirect taxes affects …

Persistent link: https://www.econbiz.de/10014395798

Financial Development and Economic Growth

Guidotti, Pablo Emilio - 1992

efficiency of investment, rather than its volume. We also present a model where the negative correlation between financial …

Persistent link: https://www.econbiz.de/10014397886

Hysteresis and business cycles

Cerra, Valerie; Fatás, Antonio; Saxena, Sweta Chaman - 2020

Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as 'hysteresis,' argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and...

Persistent link: https://www.econbiz.de/10012251398

The macroeconomic costs of conflict

Novta, Natalija; Pugacheva, Evgenia - 2020

Macroeconomic costs of conflict are generally very large, with GDP per capita about 28 percent lower ten years after conflict onset. This is overwhelmingly driven by private consumption, which falls by 25 percent ten years after conflict onset. Conflict is also associated with dramatic declines...

Persistent link: https://www.econbiz.de/10012252077

Financial crises, investment slumps, and slow recoveries

Cerra, Valerie; Hakamada, Mai; Lama C., Ruy - 2021

One of the most puzzling facts in the wake of the Global Financial Crisis (GFC) is that output across advanced and emerging economies recovered at a much slower rate than anticipated by most forecasting agencies. This paper delves into the mechanics behind the observed slow recovery and the...

Persistent link: https://www.econbiz.de/10012610732