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With the spectre of the Euro crisis looming substantially large and scaring potential monetary unions, this study is a short-run trip to embryonic African monetary zones to assess the Schumpeterian thesis for positive spillovers of financial services on growth. Causality analysis is performed...
Persistent link: https://www.econbiz.de/10011390792
The economic history of Argentina presents one of the most dramatic examples of divergence in the modern era. What happened and why? This paper reviews the wide range of competing explanations in the literature and argues that, setting aside deeper social and political determinants, the various...
Persistent link: https://www.econbiz.de/10011994330
endogenously generated by the established OTD (Originate-To-Distribute) model within the new finance-growth paradigm. Good finance … virtuous cycle), whereas bad finance captures part of the created wealth and, thanks to a highly technologically advanced … the wealth trap. A VUC index has been developed by us to capture the status quo of the finance-growth relationship. A …
Persistent link: https://www.econbiz.de/10012058894
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
We develop a horizontal R&D growth model that allows us to investigate the different channels through which financial reforms affect R&D investment and patent activity. First, a "micro" reformthat abolishes barriers to entry in the banking sector produces a straightforward result: a decrease in...
Persistent link: https://www.econbiz.de/10012515465
’s theory of functional finance (FF). A thorough discussion of this concept is helpful in reconsidering the debate on the nature …
Persistent link: https://www.econbiz.de/10011392820
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