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Foreign currency debt, financial crises and economic growth : a long run view

Bordo, Michael D.; Meissner, Christopher M.; Stuckler, David - 2009

Foreign currency debt is widely believed to increase risks of financial crisis, especially after being implicated as a cause of the East Asian crisis in the late 1990s. In this paper, we study the effects of foreign currency debt on currency and debt crises and its indirect effects on short-term...

Persistent link: https://www.econbiz.de/10003895003

Distance to the Pre-industrial Technological Frontier and Economic Development

Özak, Ömer - 2018

This research explores the effects of distance to the pre-industrial technological frontiers on comparative economic development in the course of human history. It establishes theoretically and empirically that distance to the frontier had a persistent non-monotonic effect on a country's...

Persistent link: https://www.econbiz.de/10012940315

Political Booms, Currency Crises and Economic Growth

Sever, Can - 2020

This paper finds evidence that political booms, defined as the rise in governments‘ popularity, are a good predictor of currency crises, suggesting that currency crises are often “political booms gone bust” events. The result is robust to controlling for other potential predictors of...

Persistent link: https://www.econbiz.de/10012824858

Military Expenditure, Threats, and Growth

Aizenman, Joshua; Glick, Reuven - 2003

This paper clarifies one of the puzzling results of the economic growth literature: The impact of military expenditure is frequently found to be non-significant or negative, yet most countries spend a large fraction of their GDP on defense and the military. We start by empirical evaluation of...

Persistent link: https://www.econbiz.de/10014087609

Persistence of fortune : accounting for population movements, there was no post-columbian reversal

Chanda, Areendam; Cook, C. Justin; Putterman, Louis G. - 2013

We revisit the idea that colonized countries that were more (less) economically advanced in 1500 became poorer (richer, respectively) by the late 20th century. Using data on place of origin of today's country populations and the urbanization and population density measures used by Acemoglu et...

Persistent link: https://www.econbiz.de/10009711260

How Much Economic Freedom is Necessary for Economic Growth? Theory and Evidence

Altman, Morris - 2008

The hypothesis that economic freedom and related variables are significant determinants of real per capita income and growth is critically evaluated. Economic freedom is found necessary for higher levels of per capita income and growth largely in terms of threshold effects as opposed to...

Persistent link: https://www.econbiz.de/10014218055

The Modern World : The Effect of Democracy, Colonialism and War on Economic Growth 1820-2000

Milanovic, Branko - 2005

country's income goes up. (Overall level of democracy in the world however has no effect on growth.) The effect of colonialism … is not statistically significant. Lower average level of protection in the world helps growth. Wars, whether civil or …

Persistent link: https://www.econbiz.de/10014062168

Is Constitutional Monarchy Good for Economic Growth?

Spruk, Rok; Garoupa, Nuno - 2021

This article re-examines the relationship between constitutional monarchy and economic growth in Europe. We suggest that economic growth explains the survival of constitutional monarchy rather than vice versa. The empirical results are consistent with our hypothesis

Persistent link: https://www.econbiz.de/10013229731

Innovation and inequality in a small world

Lindner, Ines; Strulik, Holger - 2017

countries it exchanges knowledge with. The diffusion of knowledge throughout the world explains a period of increasing world …. Knowledge diffusion through a Small World network produces an extraordinary diversity of country growth performances, including … the overtaking of individual countries and the replacement of the technologically leading country in the course of world …

Persistent link: https://www.econbiz.de/10011665033

Innovation and inequality in a small world

Lindner, Ines; Strulik, Holger - 2017

Persistent link: https://www.econbiz.de/10011688459