This paper argues that the effect of a financial stimulus on growth can vary along quantiles of the conditional growth distribution. We support this argument by presenting a theoretical finance–growth model, mainly inspired by Pagano (1993) and Canarella and Pollard (2004), where quantile...

This paper studies the regional distribution of benefits from trade in Mexico after the North American Free Trade Agreement (NAFTA). Specifically, we ask whether or not NAFTA increased the concentration of economic activity in Mexico. Unlike previous work which uses state-level data, we identify...

According to Crescezni and Rodríguez-Pose (2008) backward European states and regions should follow balanced strategies in which infrastructure development is coordinated with policies aimed at developing human capital and the innovative potential of regions. In order to assess their postulates...

We provide an overview of recent empirical research on patterns of cross-country growth. The new empirical regularities considered differ from earlier ones, e.g., the well-known Kaldor stylized facts. The new research no longer makes production function accounting a central part of the analysis....

We provide cross-country evidence that rejects the traditional interpretation of the natural resource curse. First, growth depends negatively on volatility of unanticipated output growth independent of initial income, investment, human capital, trade openness, natural resource dependence, and...

In this paper we use a transparent statistical methodology – synthetic control methods – to implement data-driven comparative studies about the impact of autocratic transition on real per capita GDP. The applied methodology compares the growth of countries that experienced a transition to...

The inverse relationship between economic growth and labor market developments in the form of changes in the unemployment rate is known in economic literature as Okun's law. The objectives of this paper are to estimate a regionalized Okun coefficient and its associated (regional) unemployment...

This paper examines what regional characteristics drove urban economic growth in Europe during the past decade. Possible impacts on the new member states in Central Europe due to expansion of the European Union are accounted for by comparison between two periods, before and after 2004. With a...

Even before the events of the past few years, economists and policy makers were musing about the apparent contradiction between globalization, as it is generally understood, and the seemingly different paths in overall economic activity taken by the emerging and more mature economies of the...

This paper studies the impact of environmental innovation on employment growth using firmlevel data for 16 European countries and the period 2006-2008. It extends the model by Harrison et al (2008) in order to distinguish between employment effects of environmental and non-environmental product...