In this paper we investigate the impact of Taiping Rebellion in the mid-nineteenth century on later economic development in China. We use a unique prefecture-level dataset on containing civil war intensity to assess whether the war damage led to persistent economic effect. We compare the heavily...

In the conventional neoclassical growth model, technical change is generally characterized as “purely labor-augmenting,” a restriction that limits modern civilization to super-humans living in the Stone Age. As a novel and radical departure from conventional growth theory, the model...

The purpose of this study is to investigate the Indian logistics network and verify the economic growth led by logistics performance. The paper views the logistics network as a unified entity comprising four sub-networks: Information and Communications Technology (ICT), transportation,...

Energy policy has been important strand in the view of economists in achieving rapid development process of any country. Recent wave of globalization exert pressure on energy consumption via financial development and ultimately vindicates economic growth. The study has covered the period of...

I develop a framework of the buildup and outbreak of financial crises in an asymmetric information setting. In equilibrium, two distinct economic states arise endogenously: “normal times,” periods of modest investment, and “booms,” periods of expansionary investment. Normal times occur...

Eliminating firms' access to tax havens can have unintended consequences for their domestic economic activity. We study a policy that limited profit shifting by US multinationals and show it raised the tax cost of domestic investment. Firms affected by the policy responded by reducing investment...

The literature on remittances is large and growing. However, its focus has mainly been on the effects of remittance inflows on the receiving economies. Little has been done on the sending economies. In this paper, we use data from Saudi Arabia, one of the top remitting countries in the world, to...

The issue of international migration has moved to the top of the political agenda in recent years. The heated media debates tend to hide the fact that the phenomenon of modern migration is complex and multifaceted; actually, there are few social issues where popular opinion and the research...

We model US household debt accumulation during the neoliberal boom as a response to emulation effects and the decline of the social wage, which has "privatized" an increasing share of the costs of providing for services such as health and education. The debt dynamics of the US economy are then...