benchmark calibration, we estimate that the capital misallocation induced by these barriers reduces World GDP by 7%, compared to …-country inequality: the standard deviation of log capital per employee is 80% higher than it would be in a world without barriers to …

According to theory, financial openness (FO) increases growth. The literature often conditions the growth effect of FO … on favorable collateral environment. However, this can conceal the actual growth benefits of FO. This paper contributes … to the literature by investigating the unconditional growth effect of FO, measured as de facto international financial …

institutions, global growth and macroeconomic policies, international taxation, and financial inclusion. The book is an excellent …