We present a new model on the impact of terrorism on the Deglobalization process. The channels are faster poverty expansion, largest flows of refugees, expansion of trade protectionism, and last but not least, the dramatic expansion of economic desgrowth. This new model is entitled “The...

Asia is aging, although there is significant heterogeneity across subregions and economies. Population aging poses two strategic challenges for the region: sustaining economic growth and delivering old-age economic security. In this paper, we leverage the lifecycle perspective-that individuals'...

A sound and efficient financial system is an indispensable ingredient of economic growth. It consists primarily of banks and capital markets, which channel savings into investments and other productive activities that contribute to economic growth and augment the economy's productive capacity....

A large empirical literature finds that financial development is beneficial for economic growth, although some recent evidence suggests otherwise. We contribute to the finance-growth literature by examining the role of credit growth skewness and long-run growth. Earlier literature found that...

Using international data starting 1957, we construct a sample of cases where fast-growing economies slow down. The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points when their per capita incomes...

We examine the role of governance and vulnerability to climate change in green growth using a global panel data set of 122 countries in 2000‒2012. We find that, as expected, governance has a positive effect on environmental performance and vulnerability to climate change has a negative effect....

A large empirical literature finds that financial development is beneficial for economic growth, although some recent evidence suggests otherwise. We contribute to the finance–growth literature by examining the role of credit growth skewness and long-run growth. Earlier literature found that...