growth and volatility in developing countries. The results suggest that it is difficult to establish a robust causal … relationship between financial integration and economic growth. Furthermore, there is little evidence that developing countries … have been consistently successful in using financial integration to stabilize fluctuations in consumption growth. However …

productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output … relationship between financial openness and total factor productivity (TFP) growth using an extensive dataset that includes various …Economic theory has identified a number of channels through which openness to international financial flows could raise …

capital varieties is less then infinity, but more than the value that would generate endogenous growth. This production … the relatively slow speed of convergence documented in the growth literature. Calibrating the model, our results are that …

systematic relation between fast growth and preference for delayed consumption. The third part applies the methodology to the …

In 2007, countries in the euro periphery were enjoying stable growth, low deficits, and low spreads. Then the financial … growth and welfare, and may lead to self-fulfilling crises. It also shows how crowding-out effects can be transmitted to …

growth, and find that it has a robust negative effect on GDP growth. This link coexists with the negative link between … variance and growth typically found in the literature. To explain the link between crises and growth we present a model where … contract enforce-ability problems generate borrowing constraints and impede growth. In the set of financially liberalized …

cross-sectional regressions of manufacturing industries' growth rates covering 17 years. Net portfolio debt inflows are … negatively associated with growth during the mid 1990s. The magnitudes of the negative effect of surges in portfolio debt inflows … on growth are substantial in the late 1990s for a number of countries. The effect of debt inflows on growth in the 2000s …

scarcity of saving in LATAM, thereby increasing investment and growth. Yet, the data and several case studies suggest that the … gains from external financing are overrated. The bottleneck inhibiting economic growth is less the scarcity of saving, and …