This paper studies the Balassa-Samuelson hypothesis in two areas with strong differences in economic development, sixteen OECD countries and sixteen Latin American economies. Applying panel cointegration and bootstrapping techniques that solve for cross-sectional dependence problems in the data,...

The article is based on the idea that geographic proximity is an essential factor for international integration policies due to its impact on the intensity of bilateral foreign trade and growth rate. Development is analysed as a process of structural diversification, whereby the country in...

International analysis of economic growth has confirmed the theoretical assumption that international variations in per capita income can to a large extent be explained by differences in the accumulation of capital and human capital and by differing rates of technological progress. However,...

During the past half century many nations have adopted policies whose function is to discourage cartels and other restrictive practices. Industrialized nations led the movement toward pro-competition policies, but more recently, developing nations have begun to join the parade. Initial steps...

In vielen Entwicklungsländern ist es trotz teilweise beeindruckender Wachstumserfolge in den vergangenen Jahrzehnten bisher nicht gelungen, für die Masse der Bevölkerung nachhaltige Verbesserungen ihrer Lebensbedingungen zu schaffen. Große Teile der Bevölkerung in den Entwicklungsländern...

To clarify the causal links between financial activity and economic growth, three theoretical models are analyzed and a structural equation path models is estimated. In the modeling part, poverty traps result from large fixed costs or high proportions of real investment to run a financial...

This paper offers a concise survey on the literature of growth empirics applying to DCs. It is argued that there is a number of important stylised facts of economic growth relevant to DCs which are not included in the corresponding lists of Kaldor and Romer. In contrary to the usual procedure,...