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financial liberalization spurs productivity growth and marginally affects capital accumulation. Banking crises depress both … investments and TFP. Both levels and growth rates of productivity respond to financial liberalization and banking crises. The …
Persistent link: https://www.econbiz.de/10005648774
This paper develops a growth theory that accounts for the evolution of trade policy, underlying internal class …
Persistent link: https://www.econbiz.de/10005697743
uncertainty on capital inflows generates long-term growth while the deterministic counterpart does not: long-term growth is … entirely driven by precautionary savings, and the asymptotic growth rate of the expected capital stock is increasing in both …
Persistent link: https://www.econbiz.de/10010743702
This paper explores the influences of financial deepening on growth and its volatility. Following a review of the … output growth but that finance has not shown a significant relationship with output volatility. In the Mexican case …, financial deepening has reduced the volatility of growth which, in turn, has induced higher output growth rates. Further, higher …
Persistent link: https://www.econbiz.de/10010675900
facilitated industrialization and rapid growth in China. However, as we know that there could be other factors influencing … economic development, we have also considered the role played by domestic innovation activities, competitiveness and foreign … of their causality. In addition, we investigate the role played by the exchange rate on growth and discuss some policy …
Persistent link: https://www.econbiz.de/10010573381
negatively the growth gains from trade liberalisation. Variations in the growth rate of value added–decomposed in the growth rate … of the number of establishments and the growth rate in average size–of manufacturing industries in 34 developing … countries before and after trade liberalisation are used to study the effects of inequality on the difference in growth under …
Persistent link: https://www.econbiz.de/10010702782
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 …
Persistent link: https://www.econbiz.de/10010712028
This paper explores the influences of financial deepening on growth and its volatility. Following a review of the … output growth but that finance has not shown a significant relationship with output volatility. In the Mexican case …, financial deepening has reduced the volatility of growth which, in turn, has induced higher output growth rates. Further, higher …
Persistent link: https://www.econbiz.de/10010823279
We study the nexus between natural resources and growth in Sub-Saharan Africa (SSA) and find that SSA is indeed special …: resources dependence retards growth in SSA, but not elsewhere. The natural resources curse is thus specific to SSA. We then show …
Persistent link: https://www.econbiz.de/10008671509
This paper studies the impact of the level and volatility of commodity terms of trade on economic growth, as well as on … the three main growth channels: total factor productivity, physical capital accumulation, and human capital acquisition … empirically whether export diversification of commodity dependent countries contribute to faster growth. We use the standard …
Persistent link: https://www.econbiz.de/10009024881