economic growth that has accumulated over the past quarter-century. The bulk of the historical evidence suggests that financial … development a¤ects economic growth in a positive, monotonic way, yet recent research endeavors have provided useful and important … society, as well as the channels through which finance can slow down long-term growth. …

countries, and why some countries diverge from the world technology frontier in terms of their per capita GDP levels or growth … in explaining cross-country growth performance and cross-country convergence and divergence, following Lucas … interacting financial development with macroeconomic variables such as average productivity or output volatility in growth and …

business. As a result idiosyncratic risk discourages entrepreneurial activity and hinders growth, with the effects being … and dispersion of productivity growth. …

This paper explores how revenue-neutral tax reforms impact employment and economic growth in a model of endogenous … growth and search frictions on the labor market. We analyze how savings and the incentive to create new jobs are affected by … observe an increase in both growth and, via the capitalization effect, employment. Most other tax reforms, however, imply a …

This paper explores how revenue-neutral tax reforms impact employment and economic growth in models of exogenous and … endogenous growth and search frictions on the labor market. We show that (i) a cut in the payroll tax financed by an increase in … the wage tax lowers both equilibrium employment and the equilibrium growth rate, that (ii) a higher energy tax combined …

This paper explores how revenue-neutral tax reforms impact employment and economic growth in a model of endogenous … growth and search frictions on the labor market. We analyze how savings and the incentive to create new jobs are affected by … observe an increase in both growth and, via the capitalization effect, employment. Most other tax reforms, however, imply a …

This paper investigates the influence of international openness on economic growth in a sample of 32 European economies …. The usual approach in the literature on the topic is to observe the impact of trade openness on growth. We, however … empirical analysis we use the TSLS (two stage least squares) estimator, whereby in the first step we use the standard growth …

and sanitation. Building on previous evidence on urban concentration and economic growth, in this paper we analyse … urban environment - in particular the quality of urban infrastructure - strongly determine the growth-enhancing benefits of … urban concentration (something that previous studies on urban concentration and economic growth have not considered …

Recent research has revealed enormous variation in performance and growth among firms, which both drives and is driven …

growth and dynamic welfare with special reference to South Africa. While water may become a limiting factor for future … development in general, as a drought prone and water poor country with rapid population growth, South Africa may face more serious …