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...

This paper studies the impact of spatial frictions on Asia's long-term spatial development. Using the framework provided in Desmet, Nagy, and Rossi-Hansberg (2016), we analyze the evolution of Asia's economy and the relative performance of specific regions and countries. We then perform a number...

Economic growth and development is a complicated process that falls into the domain of many disciplines in social sciences and humanities. It is natural then to study fundamental aspects of economic growth synthesizing research in relevant fields. In this short paper, we argue that this has...

A new empirical field of research in economics shows that policies characterized by economic freedom produce economic growth. “Economic freedom” means such things as a small government, protection of private property, a well-functioning legal system, free competition and few regulations. The...

This paper explores the quantitative implications of a class of endogenous growth models for cross-country income differences. These models exhibit international spillovers, no scale effects and conditional convergence, and thus they overcome some difficulties faced by the early generation of...

This paper puts forward the idea that the dynamics of national innovation systems is driven by the coevolution of two main dimensions: innovative capability and absorptive capacity. The empirical analysis employs a broad set of indicators measuring national innovative capabilities and absorptive...

The issue of foreign direct investment (FDI) has been affecting the world economy for years and is a considerable subject for both developed and developing countries. FDI is the fixed form of international business operation made across the national borders made mostly by the multi national...

The paper estimates an empirical relation based on Krugman's "technological gap" model to explore the influence of the pattern of international trade and production on the overall productivity growth of a developing country. A key result is that increased import competition in medium-growth (but...

International analysis of economic growth has confirmed the theoretical assumption that international variations in per capita income can to a large extent be explained by differences in the accumulation of capital and human capital and by differing rates of technological progress. However,...

This paper offers a concise survey on the literature of growth empirics applying to DCs. It is argued that there is a number of important stylised facts of economic growth relevant to DCs which are not included in the corresponding lists of Kaldor and Romer. In contrary to the usual procedure,...