This paper investigates the major drivers of the public debt growth in 184 countries. The underlying cross … finds that oil abundance, economic growth rate, the share of mineral rent in the total revenue, interest rate payments for … foreign borrowings, and being a developing country have statistically significant impact on the growth of the public debt. In …

A general growth model with explicit resource reallocation costs is set up. A new feature is the property of hysteresis … (i.e. a continuum of stationary equilibria) in closed-economy growth models. Employing a linear model the hysteresis … range and the consequences for the long-run growth rate are determined analytically. The most important conclusions are the …

Economic growth in the 19th and 20th centuries, following the Industrial Revolutions, was much faster than in preceding … centuries. This unprecedented global growth coincided with the global proliferation of democracy, with some evidence for … bidirectional causation. Macroeconomic forecasts have predicted slower economic growth in the 21st century--perhaps substantially …