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Financing the capital development of the economy: A Keynes-Schumpeter-Minsky synthesis

Mazzucato, Mariana; Wray, Larry Randall - 2015

This paper discusses the role that finance plays in promoting the capital development of the economy, with particular emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital development" very broadly. We begin with the observation that...

Persistent link: https://www.econbiz.de/10011545297

Financial Development and the Sensitivity of Stock Markets to External Influences

Dellas, Harris; Hess, Martin K. - 2000

We investigate how the relative contribution of external factors to stock price movements varies with the degree of financial development. We find that financial development makes stock markets more susceptible to external influences (both financial and macroeconomic). Interestingly, this effect...

Persistent link: https://www.econbiz.de/10011430016

Quality Heterogeneity andGlobal Economic Growth

Dinopoulos, Elias; Unel, Bulent - Louisiana State University <Baton Rouge, La.> / E. J. … - 2009

This paper develops a fully-endogenous, variety-expansion growth model with firm-specific quality heterogeneity, limit pricing, and an endogenous distribution of markups.Trade induces only firms with high-quality products to export, whereas firms with low-quality products serve only the domestic...

Persistent link: https://www.econbiz.de/10009302529

Three futures for postcrisis banking in the Americas: The financial trilemma and the Wall Street complex

Dymski, Gary A. - 2010

This would seem an opportune moment to reshape banking systems in the Americas. But any effort to rethink and improve … banking must acknowledge three major barriers. The first is a crisis of vision: there has been too little consideration of … what kind of banking system would work best for national economies in the Americas. The other two constraints are …

Persistent link: https://www.econbiz.de/10010281752

Should the Government Be in the Banking Business? The Role of State-Owned and Development Banks

Yeyati, Eduardo Levy; Micco, Alejandro; Panizza, Ugo - 2004

This paper surveys the theoretical and empirical literature on the role of state-owned banks and also presents some new results and a robustness analysis. The paper shows that state-owned banks located in developing countries have fiscal costs because they are characterized by lower returns than...

Persistent link: https://www.econbiz.de/10010327147

Immigration, fertility and human capital: A model of economic decline of the West

Azarnert, Leonid V. - 2010

I show how the influences of unskilled immigration, differential fertility between immigrants and the local indigenous population, and incentives for investment in human capital combine to predict the decline of the West. In particular, indigenous low-skilled workers lose from unskilled...

Persistent link: https://www.econbiz.de/10010335967

Involuntary integration in public education, fertility and human capital

Azarnert, Leonid V. - 2008

This article analyzes the negative side of involuntary integration in public education - its effect on whites. The model shows that the flight from the integrated multicultural public schools to private education increases private educational expenditures and decreases fertility among more...

Persistent link: https://www.econbiz.de/10010336029

Integrated public education, fertility and human capital

Azarnert, Leonid V. - 2011

This article analyzes the consequences of integration in public education. I show that the flight from the integrated multicultural public schools to private education increases private educational expenditures and, as a result, decreases fertility among more affluent parents whose children...

Persistent link: https://www.econbiz.de/10010336046

Options for China in a dollar standard world: A sovereign currency approach

Wray, L. Randall; Liu, Xinhua - 2014

This paper examines the fiscal and monetary policy options available to China as a sovereign currency-issuing nation operating in a dollar standard world. We first summarize a number of issues facing China, including the possibility of slower growth, global imbalances, and a number of domestic...

Persistent link: https://www.econbiz.de/10010513080

Gender inequality in a globalizing world

Seguino, Stephanie - 2005

Emphasis on market-friendly macroeconomic and development strategies in recent years has resulted in deleterious effects on growth and well-being, and has done little to promote greater gender equality. This paper argues that the example of East Asia states, which recognized their position as...

Persistent link: https://www.econbiz.de/10010330090

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