pertains to why capital seems to flow to economies with lower rather than higher productivity growth. We find that while … contradicting the predictions of traditional neoclassical growth models, financial development significantly mitigates this effect …

According to theory, financial openness (FO) increases growth. The literature often conditions the growth effect of FO … on favorable collateral environment. However, this can conceal the actual growth benefits of FO. This paper contributes … to the literature by investigating the unconditional growth effect of FO, measured as de facto international financial …

This paper contributes to the literature on foreign direct investment (FDI) and economic growth in two main ways. First …, we examine the effect of FDI on economic growth for 44 developing countries over the period 1970 to 2005 using … studies, we find that FDI has, on average, a negative effect on growth in developing countries, but that there are large cross …

contribute to expanding the host country's capital stock. The model suggests that greenfield FDI has a stronger impact on growth … than M&A sales. This hypothesis is supported by our empirical results, which show that greenfield FDI enhances growth …We explore the effect of foreign direct investment on economic growth in developing countries, distinguishing between …

growth and output trend. Our main finding is that currency collapses are associated with a permanent output loss relative to … output. More generally, we also find that the likelihood of a positive growth rate in the year of the collapse is over two … times more likely than a contraction, and that positive growth rates in the years that follow such episodes are the norm …

growth and output trend. Our main finding is that currency collapses are associated with a permanent output loss relative to … output. More generally, we also find that the likelihood of a positive growth rate in the year of the collapse is over two … times more likely than a contraction, and that positive growth rates in the years that follow such episodes are the norm …

growth and output trend. Our main finding is that currency collapses are associated with a permanent output loss relative to … output. More generally, we also find that the likelihood of a positive growth rate in the year of the collapse is over two … times more likely than a contraction; and that positive growth rates in the years that follow such episodes are the norm …

annual growth rate of the real wage in the manufacturing sector increases by a factor of three. No such increase occurs in a … control group of countries. The temporary increase in the growth rate of the real wage drives up the level of average annual …-liberalization salary. The increase in the growth rate of labor productivity in the aftermath of liberalization exceeds the increase in the …

annual growth rate of the real wage in the manufacturing sector increases by a factor of three. No such increase occurs in a … control group of countries that do not liberalize. The temporary increase in wage growth drives up the level of the average …