general equilibrium model of a small open economy with two driving forces: (i) differential productivity growth across sectors …

This paper studies the linkage between structural coherence and economic growth. Structural coherence is defined as the … output growth and the degree of structural coherence. Quantitatively, the structural coherence with respect to the overall … capital explains about 30% of the growth differential among sample countries …

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 …

unclear. One candidate is intangible capital - a rising driver of economic growth that, being non-pledgeable as collateral, is … vulnerable to financial frictions. By sheltering intangible investment from financial shocks, counter-cyclical macroeconomic … policy could strengthen longer-term growth, particularly so where strong product market competition prevents firms from self …

overall effect on GDP per capita growth. The paper''s findings are consistent with theoretical models of the current account …

integration on economic growth and also to assess whether this relationship depends on the level of economic development … to reject the hypothesis that international financial integration does not accelerate economic growth even when …

investment and growth, in practice growth effects of taxation are negligible. This paper provides evidence in support of this … highlights implications of different taxes for growth and investment in these models. The empirical work is based on cross … significant investment effects from income and consumption taxes that are consistent with small growth effects. The results are …

This paper provides empirical support for the view that enhanced economic security fosters private investment and … growth in developing countries. An analysis for 53 developing countries suggests that most aspects of economic security have … improved since the mid-1980s; that private investment is mostly influenced by the risk of expropriation, the degree of civil …

This paper studies the linkage between structural coherence and economic growth. Structural coherence is defined as the … output growth and the degree of structural coherence. Quantitatively, the structural coherence with respect to th …