The World Bank (WB) has described the European Union (EU) as a convergence machine, and the real and institutional convergence has been achieved for a long period of time, and EU’s cohesion policy, alongside the Recovery and Resilience Facility (RRF), remains crucial for driving reforms and...

Purpose What is the relation between the land system with Chinese characteristics and the country's high-speed economic growth in the past decades? There is a lack of rigorous academic research based on the general equilibrium theory of macroeconomics on this issue. Design/methodology/approach...

The objective of this paper is to study the effect of institutional factors on economic growth of a set of 37 developed and developing countries for six successive periods of five years, from 1975 until 2000, using a static panel data model. The key findings generated by this empirical test...

The objective of this paper is to study the effect of in equality on economic growth of a set of eight developing countries during the period 2000-2009, using a dynamic panel data model and a simultaneous equations model. The key findings generated from these two empirical tests stipulate a...

In this paper, using a dynamic panel of 21 OECD countries, we find that, unlike the other OECD countries in the sample, wage setting institutions, competition conditions, public finances, and external imbalances can account for the behavior of the public sector wage premium (WPR) and the...

All investments and asset classes have different levels of risks and expected returns. For example, low risk investments such as cash generally provide a lower return than high risk investments over the long term, but are unlikely to lead to a capital loss. High risk investments generally offer...

I examine the contribution of institutional breakdowns to long-run development, drawing on Argentina’s unique departure from a rich country on the eve of World War I to an underdeveloped one today. The empirical strategy is based on building a counterfactual scenario to examine the path of...

Universities are emerging growth determinants. This is so as, in addition to the fulfillment of their traditional role in teaching and (basic) research, universities, as aptly described within the helix framework, are expected to engage in regional development processes. The paper aims to detect...

This article aims to answer the question of whether a membership in the European Union contributed to an accelerated economic growth of eleven Central and Eastern European (CEE or EU11) countries, including their real convergence to the economic development level of Western Europe (EU15). The...

This paper looks at how trade liberalization and institutional quality influence real income. Previous evidence has provided mixed results, and we find that indicators representing trade liberalization have been very weak. By using strongly balanced panel data of 45 Sub-Saharan African countries...