The main purpose of this paper is to analyze the causal relationships between defence spending and economic growth …-2006. NATO countries spend biggest proportion of defence spending in the world. Granger causality test on defence-growth issue … relationship between defence spending and growth. The results show that unidirectional causality exists in seven NATO countries …

more favourable loan package; that it is associated with over-investment even when investment does not create collateral … higher growth. Our analysis accommodates costly signalling for gaining credibility and also assigns a novel role to spending …

We estimate the impact of FDI on growth using sectoral data for FDI inflows to China and Vietnam. Previous empirical … studies, using either cross-country growth regressions or firm-level micro-econometric analysis, fail to reach a consensus …. Our paper is the first to use sectoral FDI inflow data to evaluate the sector-specific impact of FDI on growth. Our …

We obtain time series estimates of the long run growth rates of 17 OECD countries, and test the hypothesis that these … long run growth rates, and; (ii) any policies that can raise national growth rates must be international in scope. The … results therefore have bleak implications for the ability of countries to affect their long run growth rates. …

We conduct an extensive robustness analysis of the relationship between trust and growth for a later time period (the … uncertainty, we use Least Trimmed Squares, a robust estimation technique, to identify outliers and investigate how they affect the … results. We find that the trust-growth relationship is less robust with respect to empirical specification and to countries in …

appears unaffected: investment rates are flat, and productivity has slowed down. We investigate whether measurement issues … as intermediate consumption. Thus they do not count as either GDP or investment. We ask how treating such spending as … investment affects some key macro variables, namely, market sector gross value added (MGVA), business investment, capital and …

adjustment function implies that aggregate investment is relatively unresponsive to aggregate shocks in deep recessions as …

maintaining moderate inflation, the rate of investment; aggressive effort at domestic resource mobilisation; and structural change …

Recent studies on the growth effects of exchange rate regimes offer a wide range of different, sometimes contradictory … common specification, and common estimation methods, we argue that the contradictory findings can be explained by the fact …

Historically, episodes of rapid growth are accompanied by significant structural change. In this paper we therefore aim … to quantify the extent to which factor accumulation induces structural change and productivity growth in industrializing … economies. To fix ideas we present an extension of Barro, Mankiw and Sala-i-Martin?s (1995) growth model that incorporates two …