Despite the significant academic interest in the economic cohesion, the various aspects of convergence and the ways they can be measured still remain theoretically unclear. These are issues of extreme political significance, especially for countries aspiring for EU and euro area membership. The...

The Barbados economy is dynamic and internationally competitive, led by a private sector that demonstrates remarkable enterprise and innovation, from our largest and most successful firms to youth entrepreneurs of outstanding promise. But our public sector is living beyond its means and its low...

Productivity growth has flat-lined in most economies despite rapid advances in technology. Economists suggest competing explanations for this paradox. Some argue the current stagnation will persist given deep structural challenges, arguing that recent technological advances are no match for...

This paper investigated the effect of capital market on Omani economic growth using real Gross Domestic Product (GDP) as representative for economic growth. The main objective of the paper is to scan the impact of Muscat Security Market (MSM) on economic g rowth in Oman. The data were collected...

A renewed interest in explaining growth in the Caribbean countries is motivated by the somewhat slow but uneven performance in the past decade: per capita GDP gaps in Caribbean countries have widened in relation to the United States, whereas standard theories would predict convergence. This...

The macro economic stabilisation in Azerbaijan has been successful. Following cessation of conflict with Armenia, and decline of GDP by 60 per cent from 1990 to 1995, the government in effect implemented a big-bang reform process in 1995. The inflation rate has now declined to the lowest rate of...

There are common narratives about economic growth in Ethiopia. We analyze four common narratives, namely, that (1) the economy is transforming from agriculture to industry, (2) that national economic growth has been rapid and sustained, (3) that Ethiopia’s economy is largely agricultural, and...

This study assesses the potential macroeconomic impact of the stimulus and the structural reforms supported by the Recovery and Resilience Facility (RRF) on the Greek economy. The set-up is a Dynamic Stochastic General Equilibrium (DSGE) model that is augmented to account for the main features...

This paper uses the growth accounting framework to assess Sri Lanka's sources of growth. It finds that while labor was the dominant factor contributing to growth in the 1980s, labor's contribution declined over time and was overtaken, to a large extent, by total factor productivity (TFP) and, to...