Since the late 1990s, the United States has received large capital flows from developing countries and experienced a productivity growth slowdown. Motivated by these facts, we provide a model connecting international financial integration and global productivity growth. The key feature is that...

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...