Based on the conceptual framework developed by the European Commission for linking the quality of public finances and economic growth, this study examines empirically the key channels through which fiscal policy impacts economic growth in the Mediterranean partner countries of the EU. The...

There are substantial differences in output per worker across states that have persisted over time.  This study demonstrates that in the context of a neoclassical growth model, differences in marginal tax rates on income from capital investment, capital ownership, and consumption will lead to...

The literature on growth theory is rich with models attempting to explain growth differences among countries. Several variables have been proposed many of which were found to be positively related to growth. However, a major problem with these models is that the factors explaining growth are...

The literature on growth theory is rich with models attempting to explain growth differences among countries. Several variables have been proposed many of which were found to be positively related to growth. However, a major problem with these models is that the factors explaining growth are...

Lack of access to finance is often cited as a key reason for why poor people remain poor. This paper uses data on the Indian rural branch expansion program to provide empirical evidence on this issue. Between 1977 and 1990, the Indian central bank mandated that a commercial bank can open a...

Lack of access to finance is often cited as a key reason why poor people remain poor. This paper uses data on the Indian rural branch expansion program to provide empirial evidence on this issue. Between 1977 and 1990, the Indian Central Bank mandated that a commercial bank can open a branch in...

Notably, the 20th century was dominated by the legacy of devastating global wars, colonial struggles, and ideological conflicts as well as effort s to establish international systems that would foster global peace and prosperity. Yet, insecurity and corruption not only remain, they have become...

L’économie mondiale est au bord d’un nouveau ralentissement majeur Comme annoncé dans le rapport de l’année dernière, l’économie mondiale s’est considérablement affaiblie en 2012. Un nombre croissant de pays développés sont retombés dans une récession à double creux,...

L’économie mondiale est au bord d’un nouveau ralentissement majeur Comme annoncé dans le rapport de l’année dernière, l’économie mondiale s’est considérablement affaiblie en 2012. Un nombre croissant de pays développés sont retombés dans une récession à double creux,...

If one ranks cities by population, the rank of a city is inversely related to its size, a well-documented phenomenon known as Zipf's Law. Further, the growth rate of a city's population is uncorrelated with its size, another well-known characteristic known as Gibrat's Law. In this paper, I show...