This paper assesses the long-run effect of growth volatility on income inequality using a comprehensive panel of annual U.S. state-level data during the 1945 to 2004 period. Using the pooled mean group (PMG) estimator, we find evidence supporting the hypothesis that larger growth volatility...

Abstract: Financial systems all over the world have grown dramatically over recent decades. But is more finance necessarily better? And what concept of finance – the size of the financial sector, including both intermediation and other auxiliary “non-intermediation” activities, or a focus...

The purpose of this paper is to foresee the likely developmental impact of the proposed institutionalisation of derivatives trading in sub-Saharan Africa(n) (SSA) countries. The case of South Africa is emphasised to illustrate how domestic derivatives trading could influence economic growth and...

In this paper we uncover growth volatility regimes and identify their robust determinants using a large international panel of countries. In doing so we propose a novel empirical methodology that allows us to simultaneously deal with two key elements of model uncertainty, namely theory...

Purpose The purpose of this paper is to investigate the role of institutions in the financial development-output growth volatility nexus. It provides new channels through which financial development can dampen the output growth volatilities of the countries under investigation....

Purpose – The purpose of this paper is to empirically examine the role of institutions on the remittances–output growth volatility relationship. Design/methodology/approach – The data set of this paper is limited to 71 remittances recipient countries. In an attempt to deal with endogeneity...

In this note, we analyze the effects of intellectual property rights on the volatility of economic growth. Our analysis is motivated by the observation that the strengthening of patent protection and the increase in R&D in the US coincide with a reduction in growth volatility beginning in the...

The growing importance of technology relevant non-publication output of university research has come into the focus of policy-makers? interest. A fierce debate arose on possible negative consequences of the increasing commercialization of science, as it may come along with a reduction in...