This paper offers an integrated view of the relationships between health spending, medical innovation, health status, growth and welfare. Health spending triggers technological progress, which is a potential source of better outcomes in terms of longevity and quality of life, a direct source of...

Strong financial markets are widely thought to propel economic development, with many in finance seeing legal tradition as fundamental to protecting investors sufficiently for finance to flourish. Kenneth Dam, in the Law-Growth Nexus, finds that the legal tradition view inaccurately portrays how...

The literature on the relationship between ESG disclosure and economic growth is relatively non-existent. Thus, this paper highlights the importance of taking this relationship into account in current sustainable policies. The main objective of extra-financial Disclosure is to mitigate...

This study adopts an ex-post facto research design to empirically examine the effect of insecurity on capital market performance and economic growth on Nigeria. Using data on peace index (PINDEX) and Peace Score (PSCORE) as proxy for insecurity, market capitalization as proxy for capital market...

This paper formally proves that economic outcomes are not independent from the corporate governance system and its ability to protect shareholders’ rights. This is achieved by extending a neoclassical growth model to incorporate an imperfectly functioning market for managerial labour enabling...

Purpose – This paper aims to study the importance of initial resource endowments, the savings rate, and financing opportunities for growth and the distribution of income. Design/methodology/approach – The analysis is based on a theoretical model of accumulation and applies simulations. The...

East Asian economies had shown remarkable performance of high growth and low inequality, thereby forming a separate East Asian capitalism group within the VoC (variety of capitalism) typologies. There are strong signs that these economies have recently been converging to the LME (liberal market...

In this paper we present a dynamic model of cooperative production with human capital accumulation. We assume CES preferences on consumption and leisure in each period. When agents do not care about future generations, sustained growth occurs if the elasticity of substitution between consumption...

Using firm-level data covering 709 cities in 128 countries, we examine the role of a comprehensive list of business and institutional environment variables at the sub-national level in explaining firm employment and productivity growth. We find basic protection (with corruption as an element),...