Purpose: There is a rich debate on the nature of Islamic banking (IB)–growth nexus and the direction of causality governing this nexus. This study aims to focus on this issue in the case of Saudi Arabia, the largest country-holder of Islamic Banks (IBs)’ assets worldwide. It assesses...

The recent literature has always attributed to the natural selection mechanism – along which only efficient firms can survive while inefficient ones are eliminated by market competition – a crucial role in the aggregated efficiency growth. By assuming that firms differ not only by their...

The paper aims to explicitly determine the distribution of human capital across hierarchic educational stages along the transition process, and to analyse the determinants of its evolution. We apply optimal control principles in a model of endogenous growth with two successive stages of...