We derive the central differential equation of the neoclassical growth model for the case of a CES (constant elasticity …-run deviations from this long-run path, which are characterized by non-sustainable explosive debt growth. These phases are …/3 without), a growth rate of labour-augmenting technical change of 1.65% (1.5%) and a corresponding initial level of labour …

The investigation of the growth-volatility link is an important one in empirical macroeconomics. There is no empirical … capital in this link. Using a panel data, we show empirically how the detrimental effect of output volatility on growth is …

Despite significant economic reforms in many Southern Mediterranean EU neighbour countries, their growth performance … has on average been subdued. This study analyses the differences in growth performance and macroeconomic stability across …

This paper assesses the non linear impact of external debt on growth using panel data for 93 developing countries. The … estimates support a non-linear, hump-shaped, relationship between debt and growth, especially when the debt burden is measured … relative to GDP. For a country with average indebtedness, doubling the debt ratio reduces growth by a third to a half …

This paper explores the growth implications of regional integration. From the theory, it identifies the ‘footprints …’ that such growth should leave in the data. It then checks the data on the four poor EU nations for such footprints. Prima … facie evidence for Ireland, Portugal and Spain support the notion that EU membership induced investment-led growth, but …

trade in explaining British living standards or growth rates. We construct a three-region model of the world in which … contrast is robust to a large range of parameter perturbations. Biased technological change and population growth were key in …

The Chinese economy does still not qualify as demand-driven economy. Its growth is based on investment. In fact …

towards investment in education and growth in output per capita, a significant portion of the gains from trade in non …-industrial nations was channelled towards population growth. …