The structural transformation of the Indian economy from agriculture (primary sector) dominated to one led by the services sector (tertiary sector), bypassing the intermediate stage of manufacturing (secondary sector) led growth, offers an alternative to conventional theories of economic...

Using the dataset in a maximum of 187 countries for the period 1960-2014, I show that the size of tradable sectors is positively associated with economic growth. Empirical results illustrate that growth effects of the size of tradable sectors are significant and relatively higher in developing...

This report analyses the link between the industrial allocation of FDI and economic development, using a newly constructed data set on industrial FDI stocks for six individual manufacturing industries (food, textiles/wood, petroleum/chemicals/rubber/plastics, metals/mechanical products,...

Policy makers find it difficult to promote economic development through entrepreneurship and SMEs. In this paper we argue that this is because the positive impact of entrepreneurship is overestimated and its negative impact underestimated. It is moreover also because there is no unified...

This study investigates three competing but complementary perspectives on factors related to entrepreneurial firm growth. We examine individual (entrepreneur) firm and national environment factors associated with the growth expectations of nascent, baby and established firms. Using 25,384 data...

European ex-socialist countries' experience is exploited for two difference-in-differences analysis: effects of a) transition to a market economy, and b) accession to the European Union (EU) on oncome. Many countries adopting regime change simultaneously; and ten of them joining the EU mostly in...

In this article we present an econometric analysis of the relationship between several indicators of economic development and wellbeing in Europe, the United States and Canada. We calculate a compound index of several indicators based on three groups: 1) Life satisfaction and income per capita,...

Finance is a vital ingredient for economic growth, but there can also be too much of it. This study investigates what fifty years of data for OECD countries have to say about the role of the financial sector for economic growth and income inequality and draws policy implications. Over the past...