The central objective of our paper is to empirically examine the relationship between financial development and income inequality. Theoretically, there are grounds for both a positive and negative relationship between the two variables. Our main finding is that financial development contributes...

This paper analyzes the effects of new business formation on industry growth. Dynamic panel techniques are used to test two hypotheses. First, does hit-andrun competition secure efficiency in an industry? Second, do innovative startups lead to amplified innovations by diminishing the knowledge...

This article presents an empirical model of non-stationary and cointegrated panel data to explain the impact of industrial property, measured by patents, on the GDP of 10 Latin America countries during the period 1990 to 2010. Apply traditional unit root tests and unit root test of art, which...

The purpose of this research is to estimate the dynamic impacts of foreign direct investments (FDI) and exports on economic growth in Peru (1970-2020) using annual series. Starting with the theoretical Mundell-Fleming static model with assumptions, we find that the change in exports does not...

Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure investment can have a positive effect on growth that goes beyond the effect of the capital stock because of economies of scale, the existence of network externalities competition...

This paper studies the effects of foreign direct investment (FDI) on national economic growth with the help of GMM panel regressions. Effects on productivity growth, capital and labor inputs as well as innovation activities are distinguished. Furthermore, less and more developed countries as...

The study complements the existing literature on the role of credit constraints in the interplay between income inequality and economic growth. The question "what type of financial development matters for inequality-growth relationship" is answered empirically by adopting a multi-dimensional...

This study re-examines the much studied inequality-growth relationship. An empirical analysis that covers over a hundred countries finds no clear evidence for inequality to boost or dampen the growth of per capita GDP. Furthermore, evidence is found for inequality to promote growth through...

Emerging market economies in East Asia have followed a similar growth path (growth convergence) from a low-income, high-growth state to a middle-income, middle-growth state through industrialization. The economic development of Japan was followed by the “four tigers” (Hong Kong, China; the...