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Aim: In this paper, it is argued that in complex financial systems private goods, important for the creation of a market, have to be considered in a multiple of differing property rights structures necessary for the functioning of the system. This may lead to high transaction costs and adverse...
Persistent link: https://www.econbiz.de/10014315987
) in Sri Lanka's economic growth experience. We do this by first determining which endogenous growth theories best explain … that semi-endogenous growth theories best explain the evolution of TFP in Sri Lanka. This evidence suggests that R&D is … critical to the country's TFP expansion. We find that, through R&D, EPU has a crucial detrimental impact on TFP growth …
Persistent link: https://www.econbiz.de/10013169692
This paper improves a standard Structural Panel Bayesian Vector Autoregression model in order to jointly deal with issues of endogeneity, because of omitted factors and unobserved heterogeneity, and volatility, because of policy regime shifts and structural changes. Bayesian methods are used to...
Persistent link: https://www.econbiz.de/10012547425
The theoretical richness and variety of the new growth literature can make it difficult to capture the essence of … growth models. With this paper, we wish to provide one possible integrating view of the nature of the growth generating … processes. Revisiting the models that constitute the core of growth theory, we expose analytically the main mechanisms through …
Persistent link: https://www.econbiz.de/10009540712
, and the long-run motive is to influence income growth of the countries. The empirical findings so far are skeptical on the …-run dynamics among R&D spending, number of patents and per capita income growth in the panel of countries and groups for the period … income growth have no long-run equilibrium relations but in the short-run, income growth and number of patents make a cause …
Persistent link: https://www.econbiz.de/10012294665
environment and support convergence through growth …
Persistent link: https://www.econbiz.de/10012007691
In this paper, we empirically investigate the causal nexus between economic growth (GDP), CO2 emissions (environmental … causality verifies that bidirectional causal connection is found between economic growth, environmental degradation (CO2 …
Persistent link: https://www.econbiz.de/10011881568
This paper employs dynamic panel models; Pooled Mean Group (PMG) and Mean Group (MG) estimators to assess the growth … growth of African countries in the long-run. The study also found that inflows of FDI crowds-in DI in Africa and that there … is significant difference in the growth effects of foreign direct investment and domestic investment while the joint …
Persistent link: https://www.econbiz.de/10012178170
The following article deals with the basic Solow model of economic growth for the states of the EU-28 and empirically … confirms its conclusions. Based on growth accounting, and by analyzing different determinants of the respective steady states …
Persistent link: https://www.econbiz.de/10014547104
Persistent link: https://www.econbiz.de/10008702294