This paper clarifies one of the puzzling results of the economic growth literature: the impact of military expenditure … threats, corruption, and other relevant controls. While growth falls with higher levels of military spending, given the values … of the other independent variables, we show that military expenditure in the presence of threats increases growth. We …

This paper looks at the patterns of causation between income, export, import, and investment growth for 25 developing … tables which allows us to assess whether our models are capable of accurately predicting turning points in GDP growth. We … find that countries with high trade exposure fare poorly in this dimension and posit that the GDP growth in such countries …

growth to the 1990s, discussing recent criticisms of their measurement and estimation framework. Our results suggest that the …. Third, and most importantly, we present new evidence on the time paths of economic growth, physical capital investment and … liberalization has, on average, robust positive effects on growth, openness and investment rates within countries. We illustrate …

GDP, mainly investment, but also non-defense government purchases and net exports. Consumer expenditure on non …

militarism according to these measures have had lower growth in trade. Focusing on bilateral trade flows, we also show that … controlling flexibly for country trends, a pair of countries jointly experiencing greater increases in militarism has lower growth …

importance of the U.S. In the early 1990s, the declining U.S. IPO share was due to the extraordinary growth of IPOs in foreign …

uncorrelated with their growth performance. Second, countries that drastically reduce private incentives to invest, severely hurt … their growth performance. In our model, the effects of taxation on growth are highly non-linear. Low or moderate tax rates … have a very small impact on long-run growth rates. But as tax rates rise, their negative impact on growth rises …

capital accumulation and TFP growth reflect convergence along two margins. One margin (between industry) is a massive …