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Estimates of the effect of education on GDP (the social return) have been hard to reconcile with micro evidence on the private return to schooling. We present a simple explanation combining two ideas: imperfect substitution and endogenous skill-biased technological progress and use cross-country...
Persistent link: https://www.econbiz.de/10011325967
main drivers of exponential growth in economic possibilities; second, a gradual general rebalancing of life choices away …
Persistent link: https://www.econbiz.de/10014464162
Exploiting 150 million points of purchase by US households, we examine how negative ESG shocks ripple through product market and shape consumption. We show that the sales of affected products drop by an average of 5 - 10%, comparing with that of unaffected products consumed by the same...
Persistent link: https://www.econbiz.de/10014350031
The policy of sustainable development requires reductions in growth of human populations to promote environmental … sustainability and economic development. The objective is to control environmental catastrophism and advance financial growth with …
Persistent link: https://www.econbiz.de/10013030118
at different stages of development when entering in a new catching-up cycle. Thus, the technological drivers of growth …] can play different roles to accelerate the rate of growth and change their relative position in the leadership rank (win …
Persistent link: https://www.econbiz.de/10012158967
While openness to trade is a well-recognized hallmark of the Asian growth model, another component of the model is a …
Persistent link: https://www.econbiz.de/10011283444
We build and estimate a structural dynamic general equilibrium model of growth and trade. Trade affects growth through …, growth affects trade, directly through changes in country size and indirectly through altering the incidence of trade costs …. Theory translates into an intuitive econometric system that identifies the causal impact of trade on income and growth, and …
Persistent link: https://www.econbiz.de/10011298529
This paper studies the effects of foreign direct investment (FDI) on national economic growth with the help of GMM … panel regressions. Effects on productivity growth, capital and labor inputs as well as innovation activities are …
Persistent link: https://www.econbiz.de/10011303758
The central objective of our paper is to empirically examine the relationship between financial development and income inequality. Theoretically, there are grounds for both a positive and negative relationship between the two variables. Our main finding is that financial development contributes...
Persistent link: https://www.econbiz.de/10011305273
economic development and growth is still in its infancy. In order to facilitate further necessary research on this topic, this …
Persistent link: https://www.econbiz.de/10010247143