Sustainable resource consumption is important for the development of the financial system. Besides, an advanced financial system eases the transfer of revenues from production activities and export to productive investments. The influence of natural resource (NR) abundance on financial...

This paper looks at how trade liberalization and institutional quality influence real income. Previous evidence has provided mixed results, and we find that indicators representing trade liberalization have been very weak. By using strongly balanced panel data of 45 Sub-Saharan African countries...

Several recent studies have found a negative relation between government size and economic growth in rich countries. Since countries with big government have experienced above average improvements in both the Economic freedom index and the KOF globalization index, we argue that existing studies...

The paper exploits the distributional dynamics and structural changes in the endogenous distribution of economic freedom across countries over time by utilizing the Rosenblatt-Parzen Kernel density estimator compared to the original distribution based on the methodology proposed by the Heritage...

In the first era of financial globalization (1880-1914), global capital market integration led to substantial net capital movements from rich to poor economies. The historical experience stands in contrast to the contemporary globalization where gross capital mobility is equally high, but did...

Globalisation, far from meeting esoteric meaning requirements – everybody's welfare –, created the conditions for a stronger and stronger presence of multinational companies, economic giants who did not avoid emerging markets, quite the contrary. The attraction of profit oriented the...

The income convergence literature suggests that poor countries can catch-up to rich ones conditional on sharing certain characteristics with rich countries. Good institutions such as strong property rights and rule-of-law are key amongst those characteristics. From a policy perspective this is...