- Data from 135 countries covering five decades suggests that creditless recoveries, in which the stock of real credit does not return to the pre-crisis level for three years after the GDP trough, are not rare and are characterised by remarkable real GDP growth rates: 4.7 percent per year in...

In dieser Studie werden längerfristige Tendenzen im Zusammenspiel von Finanzsystem und realwirtschaftlicher Entwicklung in den USA und in Deutschland diskutiert. Mit dem Schlagwort der "Finanzialisierung" wird häufig ein allgemeiner Bedeutungsgewinn des Finanzsektors einer Volkswirtschaft...

Europe trails the global frontier of productivity growth and the region's trend is sluggish. Much prospective economic growth for Europe is likely to come from AI and its adoption by European firms which is projected to shoot up the productivity trend. For such AI-generated growth to work, high...

This paper analyzes the distribution of real household incomes and consumption growth in Azerbaijan between 2004 and 2009. Decile-specific price deflators were used to calculate real incomes and consumption dynamics. The analysis, which was based on growth incidence curves, showed that economic...

Endogenous growth theory assigns an important role for entrepreneurship in the process of economic development. This paper sets to formally test the impact of entrepreneurship on economic growth. Entrepreneurship is represented by a number of proxy variables, whereas Total Factor Productivity is...

Qatar's domestic and foreign policy since the 1990s has developed along three main lines: The emirate has expanded its gas production and supplies liquefied gas to as many countries as possible; it assures itself of US military protection by providing bases; and it conducts a "soft power"...

Germany and the EU plan to import hydrogen and its derivatives from the Arab Gulf states. Although Germany has signed a joint declaration of intent with the Sultanate of Oman to this end, its efforts focus primarily on Oman's larger neighbours. However, it would be a mistake to overlook Oman's...

Over the past 10 years, the de facto alliance of the governments of Egypt, Saudi Arabia and the United Arab Emirates has exercised significant influence over developments in the Middle East. The common goal has been to prevent democratic transformation, stop the rise of political Islam and...

Since 2021, Turkey embarked on a Middle East reconciliation initiative involving Syria, Egypt, Israel, Saudi Arabia, and the United Arab Emirates (UAE). This initiative responds partly to evolving regional dynamics and Turkey's specific challenges, such as its protracted economic crisis and...

Saudi Arabia has entered the geopolitical competition for mineral resources - and it has done so in a determined manner and with substantial funds at its disposal. As part of its Vision 2030, the Kingdom aims to strengthen local processing and industrial value added. Currently, Saudi Arabia...