This paper argues that population age structure plays a significant role alongside institutional, technological, political, and cultural factors when it comes to explaining shifts in urban, regional and national economic development. The paper demonstrates how demographic transitions lead to...

We report evidence that the relation between the financial sector share, private savings and growth in the United States 1948-1996 is characterized by several regime shifts. The finding is based on vector autoregressions on quarterly data that allow for Markov switching regimes. The evidence may...