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We analyse an economy that lacks a strong legal-political institutional infrastructure and is populated by multiple powerful groups. Powerful groups dynamically interact via a fiscal process that effectively allows open access to the aggregate capital stock. In equilibrium, this leads to slow...
Persistent link: https://www.econbiz.de/10005662300
In an influential article Tornell and Lane (1999) considered an economy populated by multiple powerful groups in which property rights in the formal sector of production are not protected. They obtained conditions under which the groups appropriate output from the formal sector in order to...
Persistent link: https://www.econbiz.de/10009023973
The literature on aid effectiveness has focused more on recipient policies than the determinants of aid allocation yet a consistent result is that political allies obtain more aid from donors than non-allies. This paper shows that aid allocated to political allies is ineffective for growth,...
Persistent link: https://www.econbiz.de/10010653526
This paper explores the quantitative implications of a class of endogenous growth models for cross-country income differences. These models exhibit international spillovers, no scale effects and conditional convergence, and thus they overcome some difficulties faced by the early generation of...
Persistent link: https://www.econbiz.de/10005407660
Küreselleþmenin kontrol edilemez boyutlara ulaþtýðý günümüz dünyasýnda sosyal, siyasi ve kültürel alandaki geliþmeler ve deðiþiklikler ekonomik büyümeye verilen önemi daha da anlamlý kýlmaktadýr. Bu baðlamda beþeri sermaye faktörü, ekonomik büyümenin...
Persistent link: https://www.econbiz.de/10011268868
The issue of foreign direct investment (FDI) has been affecting the world economy for years and is a considerable subject for both developed and developing countries. FDI is the fixed form of international business operation made across the national borders made mostly by the multi national...
Persistent link: https://www.econbiz.de/10011049613
The paper estimates an empirical relation based on Krugman's "technological gap" model to explore the influence of the pattern of international trade and production on the overall productivity growth of a developing country. A key result is that increased import competition in medium-growth (but...
Persistent link: https://www.econbiz.de/10005116857
Economic growth and development is a complicated process that falls into the domain of many disciplines in social sciences and humanities. It is natural then to study fundamental aspects of economic growth synthesizing research in relevant fields. In this short paper, we argue that this has...
Persistent link: https://www.econbiz.de/10005126120
The paper estimates an empirical relation based on Krugman's "technological gap" model to explore the influence of the pattern of international trade and production on the overall productivity growth of a developing country. A key result is that increased import competition in medium-growth (but...
Persistent link: https://www.econbiz.de/10005252991
A new empirical field of research in economics shows that policies characterized by economic freedom produce economic growth. “Economic freedom” means such things as a small government, protection of private property, a well-functioning legal system, free competition and few regulations. The...
Persistent link: https://www.econbiz.de/10005190443