effects on growth due to financial development, institutional quality, trade openness and some macroeconomic variables of the …In the literature there is a great debate on the growth effects of international financial integration. It is argued … that the direction and the magnitude of the effect of financial integration on growth depend on some structural and …

In 2007, countries in the Euro periphery were enjoying stable growth, low deficits, and low spreads. Then the financial … growth and welfare, and may lead to self-fulfilling crises. It also shows how crowding-out effects can be transmitted to …

generates insufficient exchange rate volatility. A longrunrisk model with recursive-preferences can generate realistic exchange … rate volatility,if all agents efficiently share their consumption risk by trading in complete financialmarkets; however … theremaining households lead hand-to-mouth lives, can generate realistic exchange rate andexternal balance volatility. …

. Recent research argues that models with persistent growth rate shocks and recursive preferences can solve that puzzle. I show …, then long-run risk generates insufficient exchange rate volatility. A long-run risk model with recursive-preferences can … generate realistic exchange rate volatility, if all agents efficiently share their consumption risk by trading in complete …

that formal aspects of financial openness generate a strongly positive impact on economic growth and its sources …, productivity growth and capital accumulation. Moreover, there is evidence of a positive contribution to the process stemming from …

growth and volatility in developing countries. The results suggest that it is difficult to establish a robust causal … relationship between financial integration and economic growth. Furthermore, there is little evidence that developing countries … have been consistently successful in using financial integration to stabilize fluctuations in consumption growth. However …

capital varieties is less then infinity, but more than the value that would generate endogenous growth. This production … the relatively slow speed of convergence documented in the growth literature. Calibrating the model, our results are that …

that formal aspects of financial openness generate a strongly positive impact on economic growth and its sources …, productivity growth and capital accumulation. Moreover, there is evidence of a positive contribution to the process stemming from …

Paradoxically, high-growth, high-investment developing countries tend to experience capital outflows. This paper shows … neoclassical growth model with international trade in bonds, and by taking into account not only TFP catch-up, but also the capital … 67 countries between 1980 and 2003: (i) TFP growth is positively correlated with capital outflows in a sample including …