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Few economic ideas are as intuitive as the notion that increasing investment is the best way to raise future output …. This idea was the basis for the theory quot;capital fundamentalism.quot; Under this view, differences in national stocks of … of less developed countries. Neoclassical growth theory and growth accounting research indicated that differences in …
Persistent link: https://www.econbiz.de/10012746919
This paper reviews the evolving literature that links financial development, financial crises, and economic growth in the past 20 years. The initial disconnect -- with one literature focusing on the effect of financial deepening on long -- run growth and another studying its impact on volatility...
Persistent link: https://www.econbiz.de/10012943988
The reallocation of resources from low- to high-productivity firms can generate large aggregate productivity gains. The paper uses data from the Malaysian manufacturing census to measure the country's hypothetical productivity gains when moving toward the level of within-sector allocative...
Persistent link: https://www.econbiz.de/10012924382
This paper contributes to explain the cross-country heterogeneity of the poverty response to changes in economic growth. It does so by focusing on the structure of output growth. The paper presents a two-sector theoretical model that clarifies the mechanism through which the sectoral composition...
Persistent link: https://www.econbiz.de/10012747900