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and their demand for reproducible and natural capital. As a result of these changes in the firms' external financing costs …
Persistent link: https://www.econbiz.de/10009296020
This paper examines the long-run effects of oil revenue and its volatility on economic growth as well as the role of institutions in this relationship. We collect annual and monthly data on a sample of 17 major oil producers over the period 1961-2013, and use the standard panel autoregressive...
Persistent link: https://www.econbiz.de/10012957134
Tackling climate change is one of the highest challenges which the world economy is currently facing. The European Green Deal, adopted in 2019, sets the European roadmap towards a net-zero greenhouse gas emissions economy. The food system is heavily responsible for greenhouse gas emissions and...
Persistent link: https://www.econbiz.de/10013407111
This paper presents and evaluates the hypothesis that emerging countries specialized in commodity production are prone to experience non orthogonal commercial and financial shocks. Specifically, we investigate a set of global macroeconomic variables that, in principle, could simultaneously...
Persistent link: https://www.econbiz.de/10010198752
Persistent link: https://www.econbiz.de/10003270805
capital, trade openness, natural resource dependence, and population growth. Second, the direct positive effect of resources … growth. Fifth, restrictions on the current account raise volatility and depress growth whereas capital account restrictions …
Persistent link: https://www.econbiz.de/10013134342
We review evidence on the Great Moderation together with evidence about volatility trends at the micro level to develop a potential explanation for the decline in aggregate volatility since the 1980s and its consequences. The key elements are declines in firm-level volatility and aggregate...
Persistent link: https://www.econbiz.de/10003781571
We review evidence on the Great Moderation together with evidence about volatility trends at the micro level to develop a potential explanation for the decline in aggregate volatility since the 1980s and its consequences. The key elements are declines in firm-level volatility and aggregate...
Persistent link: https://www.econbiz.de/10012723678
This paper takes stock of the economic performance of resource rich countries in the Middle East and North Africa (MENA) over the past forty years. While those countries have maintained high levels of income per capita, they have performed poorly when going beyond the assessment based on...
Persistent link: https://www.econbiz.de/10013090365
This paper takes stock of the economic performance of resource rich countries in the Middle East and North Africa (MENA) over the past forty years. While those countries have maintained high levels of income per capita, they have performed poorly when going beyond the assessment based on...
Persistent link: https://www.econbiz.de/10013090950