This article assesses the effects of real exchange rate misalignment on long-term growth, between 1995 and 2018, in a set of 151 countries. Our findings indicate that a competitive real exchange rate is positively associated with growth over the long run. The novel element here is our...

This paper aims at analyzing the relationship between economic growth and financial development on theoretical and empirical grounds. We briefly review the arguments that support the existence or not of a positive and causal relation between these two variables, as well as the arguments that...

This paper aims at analyzing theoretically and empirically the role of infrastructure expenditure on economic growth in Brazil from 1986 to 2003. The hypothesis is that public infrastructure expenditures in transport are central to foster sustainable growth in Brazil. Theoretical and empirical...