Using international data starting 1957, we construct a sample of cases where fast-growing economies slow down. The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points when their per capita incomes...

Arts proponents frequently argue that the arts have a positive impact on the economy, yet this assertion is not supported by satisfactory statistical testing. Using the U.S. Gross Domestic Product (GDP) and National Arts Index (NAI), this study seeks to verify the contention that arts activities...

In anticipation of recovery in the tourism industry post COVID-19, this study examines the economic impact of tourism on economic growth and other macroeconomic variables in a panel of 46 countries. Using system-GMM estimation, I find that tourism has a statistically significant positive effect...

East Asia is the world's main natural gas importing region, in which China became the world's largest gas importer in 2018. However, China's natural gas imports are subject to a high premium level, which increases the gas import cost and negatively impacts China's energy structure transformation...

How much an economy should invest in its physical infrastructure is a crucial question being asked by policy makers from developing countries where financial resources for economic development are limited. This paper aims to address this question by bringing insights from the literature that...

This study quantifies the economic impacts of SARS on the four affected Asian economies and the two most affected Chinese regions using synthetic control methods with macroeconomic and remote-sensing nightlight data. For the four affected economies (China, Hong Kong, Taiwan, and Singapore), we...