Piketty's Capital in the Twenty-First Century posits the return r on capital to be larger than the economic growth rate g as a main driver of inequalities. This article points out the circumstances under which the reverse inference holds. We show that increasing inequality promotes increasing...

In this article, we provide new, novel evidence for a more recent structural break (in 2010) indicating a greater moderation of output volatility compared to the well-known break during the mid-1980s. The period of analysis runs from 1962Q2 to 2018Q3. It covers 26 OECD countries. In terms of...

We provide a comprehensive assessment of the relationship between public debt and GDP growth in the postwar advanced economies. We use the timing of changes in public debt and growth to account for endogeneity, and find little evidence of a negative relationship. Semi-parametric estimates do not...

Corruption literature within economics has long returned ambiguous results with no concise cause or impact of corruption identified. This meta-analysis aims to find synergy within the corruption literature by assessing macroeconomic empirical studies that evaluate whether corruption "greases or...

The COVID-19 crisis has hit Italy severely: by mid-2020, GDP had returned to the level observed in 1993. This is the result not only of its sharp collapse in the first half of 2020, but also of its weak growth since the 1990s. Addressing the problems that have restrained the economy for 30 years...

With the globalization process, economic, commercial and technologic boundaries have become uncertain and in this way capital transfer has been possible between different countries. Capital transfers which is realized through short term foreign portfolio investment and foreign direct investment...

In developing countries adequate and necessary investment cannot be realized since their domestic savings rate is low and foreign savings rate is very low. Here FDI helps diminish domestic and foreign savings deficits. Capital account liberalization in Turkey was initiated in conjunction with...

Although the oil price is determined by demand and supply, it is also affected by lots of variables such as economic, political and technical conditions. On the other hand, fluctuations in oil price have also effect on macroeconomic stability. Oil price has an important role in Turkey, since...

This paper deals with the empirical investigation of causal relationship between financial deepening, economic growth and poverty reduction using quarter frequency data in case of Pakistan over the period of 1972-2011. We applied the ARDL bounds testing approach by incorporating structural...

Guyana has been able to reverse decades of economic decline and stagnation with five consecutive years of robust growth during the period 2006-2010. The study probes whether Guyana has finally turned the corner. The study finds that good policies as well as good luck explain much of the recent...