that this will lead to a dynamic factor model with the dominant unit acting as the factor. The problems of estimation and …

that this will lead to a dynamic factor model with the dominant unit acting as the factor. The problems of estimation and …

that this will lead to a dynamic factor model with the dominant unit acting as the factor. The problems of estimation and …

volatility of aid on economic growth, controlling for the level of aid. A four-year panel analysis is conducted encompassing 155 … countries over the period 1966-2001. We find that once the volatility of aid is controlled for, aid has a positive impact on … economic growth. Correspondingly, volatility of aid flows is found to be negatively related to growth. We found no significant …

emergence of large economic players, like China, is likely to have weakened the role of the U.S. economy as a driver of global … to the rest of the world tends to fluctuate over time but remains large overall. Second, although the size of the spill … persistent. Actually, the increasing economic integration at the world level is likely to have fostered second-round and third …

SVAR models that include a single world price (such as the terms-of-trade) predict that world shocks explain a small … multiple commodity prices transmit world disturbances. Estimates on a panel of 138 countries over the period 1960-2015 indicate … that world shocks explain on average 33 percent of output fluctuations in individual economies. This figure doubles when …

What is the relationship between economic growth and its volatility? Does political instability affect growth directly … or indirectly, through volatility? This paper tries to answer such questions using a power-ARCH framework with annual … legislative changes) has an indirect (through volatility) negative impact. We also find preliminary support for the idea that …