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This paper offers the first systematic historical evidence on the role of a central actor in modern growth theory - the … engineers diverged in their growth trajectories over the next century. The results are supported by historical case studies from …
Persistent link: https://www.econbiz.de/10011602763
Externalities play a central role in most theories of economic growth. We argue that international externalities, in … particular, are essential for explaining a number of empirical regularities about growth and development. Foremost among these is … that many countries appear to share a common long run growth rate despite persistently different rates of investment in …
Persistent link: https://www.econbiz.de/10014023776
countries, the financial openness policy in the Non-GCC countries have reduced the benefits of FDI on growth, this finding is …
Persistent link: https://www.econbiz.de/10011496344
This paper argues for a transformation of finance to support the economic and social transformation of the Middle East and North Africa. The paper first documents the existing financial system in the region. The system is heavily skewed toward banking, relative to non-banking services, such as...
Persistent link: https://www.econbiz.de/10012257125
estimation, the paper estimates a growth model using the difference in the log of GDPC between periods t and t+1. Buttressed by … sufficient empirical evidence, the paper's findings corroborate that the Arab Spring had been negatively associated with growth …
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