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Catching Up : Developing Countries in Pursuit of Growth
Popov, Vladimir - 2015
same level of development, but from the 1500s Western countries started to grow faster than the rest of the world and PPP … GDP per capita by 1950 in the US, the richest Western nation, was nearly 5 times higher than the world average. Since 1950 …. After nearly half of millennium of growing economic divergence, the world seems to have entered the era of convergence. The …
Persistent link: https://www.econbiz.de/10014134071
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Is there an optimum level of financial activity?
Graff, Michael (contributor) - 2005
This paper addresses the notion of an "optimum level of financial activity" that is contingent on a country's general level of development. Referring to threshold regressions and a bootstrap test for structural shift of the finance regressor in a growth equation, it is shown that countries gain...
Persistent link: https://www.econbiz.de/10003214344
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To what extent is the institutional environment responsible for worldwide differences in economic development
Próchniak, Mariusz - In: Contemporary economics 7 (2013) 3, pp. 17-38
differences in economic development among the countries of the world. According to the institutions-augmented Solow model, the …
Persistent link: https://www.econbiz.de/10010228513
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Culture, diffusion, and economic development
Harutyunyan, Ani; Özak, Ömer - 2016
This research explores the effects of culture on technological diffusion and economic development. It shows that culture's direct effects on development and barrier effects to technological diffusion are, in general, observationally equivalent. In particular, using a large set of measures of...
Persistent link: https://www.econbiz.de/10011528503
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Institutions and Economic Development : New Measurements and Evidence
Acquah, Esther; Carbonari, Lorenzo; Farcomeni, Alessio; … - 2021
We propose a new set of indices to capture the multidimensionality of a country's institutional quality. Our indices are obtained by employing a dimension reduction approach on the institutional variables provided by the Frazer Institute (2018). We estimate the impact that our measures of...
Persistent link: https://www.econbiz.de/10013322263
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In search of larger per capita incomes : how to prioritize across productivity determinants?
Izquierdo, Alejandro; Llopis, Jimena; Muratori, Umberto; … - 2016
This study is a first contribution to prioritization across productivity determinant capabilities that attempts to obtain the equivalent of a "shadow price" for each of these capabilities by estimating their impact on the success a country may have in reaching higher income per capita groups....
Persistent link: https://www.econbiz.de/10011457783
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Specialization and Market Development as Engines of Growth
Phillips, Kerk - 2012
This paper constructs a model of growth based on Adam Smith's notions of specialization and extent of the market. We seek to explain the following stylized facts. 1) The share of household production in total output has fallen over time as the economy has grown. 2) Services as a percent of GDP...
Persistent link: https://www.econbiz.de/10013110580
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Financial development and growth : evidence from Bayesian Modelling
Ahiakpor, Ferdinand; Nordjo, Ralph Essem; Alnaa, Samuel … - In: Cogent economics & finance 11 (2023) 2, pp. 1-21
This paper examines the nexus between financial development and economic growth in Ghana between 1970 and 2020. The study adopted the Bayesian Model Averaging (BMA) techniques to address issues of model uncertainty due to many potential explanatory variables that could influence growth. The...
Persistent link: https://www.econbiz.de/10014501173
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Growth, Development and Natural Resources : New Evidence Using a Heterogeneous Panel Analysis
Cavalcanti, Tiago - 2013
This paper explores whether natural resource abundance is a curse or a blessing. In order to do so, we firstly develop a theory consistent econometric model, in which we show that there is a long run relationship between real income, the investment rate, and the real value of oil production....
Persistent link: https://www.econbiz.de/10013095480
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Geography, Institutions and Human Development : A Cross-Country Investigation Using Bayesian Model Averaging
Malik, Sadia Mariam - 2010
This paper examines the role of long standing institutions – identified through geography, disease ecology, colonial legacy, and some direct measures of political and economic governance – on human development and its non income components across countries. The study employs a novel...
Persistent link: https://www.econbiz.de/10013146543