We develop a horizontal R&D growth model that allows us to investigate the different channels through which financial … sector produces a straightforward result: a decrease in lending rates which stimulates R&D investment and economic growth …

experiencing faster growth. The long upward trend in consumption presents a strong challenge to the consumption smoothing …, habit formation and precautionary saving. Taiwanese consumption growth is found to result from high levels of prudence, with … the faster consumption growth of younger cohorts attributed to their greater participation in industries with more …

-linear relationship between financial development and growth, we find an inverted U-shaped relationship between finance and growth in the …We revisit the relationship between financial development and economic growth in a panel of 52 middle income countries … financial development does not have a linear positive long-run impact on economic growth in this sample. When we consider a non …

covering the period 1991-2004, we study how private equity finance affects patent applications and patent grants. We address …

The paper examines the effect of inflation on growth in transition countries. It presents panel data evidence for 13 … find a strong, robust, negative effect on growth, and one that declines in magnitude as the inflation rate increases. These … results include a role for a normalized money demand, by itself and as part of a nonlinearity in the inflation-growth effect …

Output growth, investment and the real interest rate in long run evidence tend to be negatively affected by inflation …. Theoretically, inflation acts as a human capital tax that decreases output growth and the real interest rate, but increases the …. Inflation then decreases the investment rate, and still decreases both output growth and real interest up to some moderately …

The paper examines the effect of inflation on growth in transition countries. It presents panel data evidence for 13 … effect on growth of inflation or its standard deviation, and one that appears to decline in magnitude as the inflation rate … increases, as seen for OECD countries. And the results include a role for a normalized money demand in affecting growth, as well …