Research suggests that there are neighborhood effects in the form of correlations between countries' growth and that of their neighbors. The data in this study suggests that closer countries - those with which country shares a border or those within a smaller radius - are more correlated than...

We analyze 1334 estimates from 67 studies that examine the effect of financial development on economic growth. Taken together, the studies imply a positive and statistically significant effect, but individual estimates vary a lot. We find that both research design and heterogeneity in the...

The prevailing consensus is that foreign direct investment (FDI) effects are conditional. At the macro level, they depend upon minimum levels of human capital or financial development, while at the micro level, they depend on type of linkage (forwards, backwards, or horizontal). This paper...

The present fiscal difficulties of many countries amplify the call for structural reforms. To provide stylized facts on how reforms worked in the past, we quantitatively review 60 studies estimating the relation between reforms and growth. These studies examine structural reforms carried out in...

The present fiscal di fficulties of many countries amplify the call for structural reforms. To provide stylized facts on how reforms worked in the past, we quantitatively review 60 studies estimating the relation between reforms and growth. These studies examine structural reforms carried out in...

The main objective of this study is to present a two-step approach to generate estimates of economic growth based on agents' expectations from tendency surveys. First, we design a genetic programming experiment to derive mathematical functional forms that approximate the target variable by...

The main objective of this study is to present a two-step approach to generate estimates of economic growth based on agents' expectations from tendency surveys. First, we design a genetic programming experiment to derive mathematical functional forms that approximate the target variable by...

We apply the two-step machine-learning method proposed by Claveria et al. (2021) to generate country-specific sentiment indicators that provide estimates of year-on-year GDP growth rates. In the first step, by means of genetic programming, business and consumer expectations are evolved to derive...

We analyze 1,334 estimates from 67 studies that examine the effect of financial development on economic growth. Taken together, the studies imply a positive and statistically significant effect, but individual estimates vary a lot. We find that both research design and heterogeneity in the...