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The examination of U.S. crises reveals that the current financial crisis follows past patterns. An investment bubble creates excess demand for new financing instruments. During the railroad bubbles of the nineteenth century loans were issued at a pace higher than many companies could pay back....
Persistent link: https://www.econbiz.de/10013139545
economic growth without significant first steps in industrial development and supporting institutions. The finance-growth …
Persistent link: https://www.econbiz.de/10013115830
economic growth on many social phenomena, they may, in fact, merely reflect historical experience, that is, similar leader … independent. The oft-reported significant cross-country relationships of many variables to economic growth may merely demonstrate … section ; time series ; economic growth ; life expectancy ; diffusion …
Persistent link: https://www.econbiz.de/10009730828
We set up an endogenous growth model in which the efficiency of both capital and fossil energy can be improved, whereas … states: one stagnant where energy is fully derived from the alternative energy source, and one with balanced growth where …
Persistent link: https://www.econbiz.de/10010529424
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Family reconstitution data: a cliometric view -- History of cliometrics -- Growth theories -- Cliometric approaches to …
Persistent link: https://www.econbiz.de/10014535169
This study investigate how debt restructurings have evolved over the decades. Debtors and creditors have a long history of engaging an outsider a third partyʺ, such as the IMF to organise and facilitate debt restructurings. As we show, the importance of these third partiesʺ has grown over...
Persistent link: https://www.econbiz.de/10003463647
Money, in this paper, is defined as a power relationship of a specific kind, a stratified social debt relationship, measured in a unit of account determined by some authority. A brief historical examination reveals its evolving nature in the process of social provisioning. Money not only...
Persistent link: https://www.econbiz.de/10011438522
financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positive effect of … paper starts by illustrating these opposing effects by, first, analyzing the dynamics of output growth and financial … intermediation around systemic banking crises and, second, showing that the growth enhancing effects of financial depth are weaker in …
Persistent link: https://www.econbiz.de/10011409380