Este Informe realiza un diagnóstico de la trayectoria reciente de la economía española y propone medidas para recuperar el crecimiento y entrar en una etapa de desarrollo continuado, que ofrezca a la sociedad española nuevas oportunidades de progreso. Para reencontrar su lugar en la...

Bayesian model averaging is applied to robustly ascertain the determinants of various output volatility measures, including the downside semideviation of growth rates. Financial sophis- tication variables are found to have qualitatively different effects on volatility. The ratio of govern- ment...

In this paper it is argued that the domestic division of labor and trade is organized according to the same principle as the international division of labor and trade – the Ricardian comparative advantages. After all, the ultimate source of these comparative advantages is the individual. The...

Fisher (2003), verdiði Ely Semini’inde küreselleþmeyi sýnýrlarý aþan ekonomik ve ekonomik olmayan etkileþimler olmak üzere ikiye ayýrmýþtýr. “Devletlerarasýndaki hâlihazýrda büyümekte olan birbirine baðýmlýlýk süreci olarak ifade edilen ekonomik küreselleþme, artan...

This paper presents empirical evidence from a cross-section sample of thirty six Sub-Saharan African countries and time-series sample of selected seven. The evidence suggests that countries in the region that open generally tend to grow faster than those that are closed. However, the...

The paper is an attempt to observe the effects of the development of rent-seeking or lobbying groups on the growth pace of a number of countries. The relationship between the policy suggestions of competing interest groups, and economic policies implemented both at micro and macro level after...

We study a dynamic general equilibrium model where innovation takes the form of the introduction new goods, whose production requires skilled workers. Innovation is followed by a costly process of standardization, whereby these new goods are adapted to be produced using unskilled labor. Our...

This paper studies the impact of the level and volatility of commodity terms of trade on economic growth, as well as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital acquisition. We argue that volatility, rather than abundance per se,...

As a country progressively engages in international trade, its factors of production will enter increasingly into the export sector, where their return is higher, compared to the import competing sector. At the regional level too those states, which can attune their production structure to...