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It is theoretically clear and may be verified empirically that efficient financial markets can make it less necessary for policy to try and offset the welfare effects of labour income risk and unequal consumption dynamics. The literature has also pointed out that, since international competition...
Persistent link: https://www.econbiz.de/10010298380
This paper reviews the literature on the finance-growth nexus within a neoclassical growth framework, placing an … Agenda. While more research is needed to establish causality and verify the theoretical channels linking access to finance …
Persistent link: https://www.econbiz.de/10011604833
sovereignty to regulate cross-border finance under global economic governance institutions. …
Persistent link: https://www.econbiz.de/10011903331
Using firm level data on 70,000 enterprises in 107 countries, this paper finds important effects of access to finance … systematically by firm types. Micro and small firms have less access to formal finance, pay more in bribes than do larger firms, and … downward the size distribution of firms. In the case of finance and business regulations this occurs by reducing the employment …
Persistent link: https://www.econbiz.de/10010268270
The Finance-Growth Nexus is a classical source of debate among economists. This contribution offers regional evidence … countries. The results for this application support the view that finance leads growth, reject its possible endogeneity and …
Persistent link: https://www.econbiz.de/10010273090
The present contribution tests whether countries can be pooled when studying the finance-growth nexus. Overall, our …
Persistent link: https://www.econbiz.de/10010273103
A growing body of recent macroeconomic evidence suggests that volatility is detrimental to economic growth. The channels through which volatility affects growth, however, are less clear; substantive evidence based on disaggregate data is almost non-existent. This paper offers a framework in...
Persistent link: https://www.econbiz.de/10010278247
This paper examines the possible causes of the nationwide unfunded public pension liability problem in the U.S., and what solutions are being proposed to combat the issue. After examining the general problems associated with multiple states’ pension systems, a specific analysis of the Rhode...
Persistent link: https://www.econbiz.de/10009450209
A collection of eighteen articles have been purposely chosen to demonstrate the development of the original and significant contributions of my research over the period 1990 to 2008. Despite the relatively large number of articles, which cover a range of related issues, there is a surprisingly...
Persistent link: https://www.econbiz.de/10009457324
A collection of eighteen articles have been purposely chosen to demonstrate the development of the original and significant contributions of my research over the period 1990 to 2008. Despite the relatively large number of articles, which cover a range of related issues, there is a surprisingly...
Persistent link: https://www.econbiz.de/10009457368