This study examines the relative effects of the different types of international financial flows on economic performance in Kenya both in the long- and short-runs using the autoregressive distributed lag model (ARDL) bounds approach and data for the period 1970 to 2017. This is against the...

The debate about the influence of financial market development on economic growth has been ongoing for more than a century. Since Schumpeter [1912] wrote about the happenings on Lombard Street there has been growing interest in the way financial market development affects economic activity and...

This article addresses Japan's economy, its new economic policy package, which is known as Abenomics. The centerpiece of Abenomics has been the three "economic arrows" targeted at aggressive monetary policy, flexible fiscal policy, and growth strategy. This article focuses on Abenomics and shows...

This article reviews the use of the concept of political instability in economic research, the importance of which has been growing in recent years due to its potentially profound economic consequences. The article explores this concept by working through the definitions, dimensions, and methods...

We investigate whether increasing the education quality causes increases in economic growth allowing poorer countries to catch up. To this end, we extend Nelson-Phelps's classic paper by introducing differences in education quality (proxied by students' performance on the Program for...

Crime is a major impediment to economic growth and development in Nigeria despite measures taken to reduce it. There is, however, currently no major statistical analysis of how crime affects economic growth in that country. This study examines the link between crime and growth based on the...

The study aims to analyze the impact of China-Pakistan Economic Corridor (CPEC) logistics-related developments on economic growth in Pakistan. The study defined a Cobb-Douglas type of research framework in which the country's real income level relates to four factor inputs, e.g., employed labor...

We study the heterogeneous pass-through of carbon pricing on investment across firms. Using balance sheet data of 1.2 million European firms and identified carbon policy shocks, we find that higher carbon prices reduce investment, on average. However, less carbon-intensive firms and sectors...

This paper examines the number of licensed private cars in the economy per unit of GDP, or car intensity, as an intrinsic component of car use that may be underlying the observed peak car phenomenon. Using data on 88 countries from 1950 to 2010, I demonstrate that car intensity evolves in a...

The neo-Schumpeterian growth models, which appeared in the early 1990s, have ostensibly reintroduced the entrepreneur into mainstream growth theory. However, we show that by ignoring genuine uncertainty and by assuming that profits follow an objectively true and ex ante known probability...