We empirically investigate the hypothesis that when democracies are young, or still fragile and unconsolidated, the size of government (in terms of consumption, debt and share to GDP) tends to increase in an attempt to buy out the electorate, so that democracy becomes acceptable and ?the only...

We examine the impact of inflation on financial development in Brazil, and the data available permit us to cover the period between 1985 and 2004. The results--based initially on time series and then on panel time series and panel data and analyses--suggest that inflation presented deleterious...

Using a standard overlapping generations monetary production economy, faced with endogenously determined tax evasion by heterogeneous agents in the economy, we provide a theoretical model that indicates that both a lower (higher) level of financial development and a higher (lower) level of in...

The main objective of central banks around the world is the achievement and maintenance of price stability, which actually creates an environment conducive for faster economic growth. Therefore, it is important for policy makers to understand the relationship between inflation and economic...

We examine the impact of inflation on financial development in Brazil, and the data available permit us to cover the period between 1985 and 2004. The results—based initially on time series and then on panel time series and panel data and analyses—suggest that inflation presented deleterious...

This paper estimates a Bayesian Dynamic Stochastic General Equilibrium (DSGE) model of Malawi and uses it to account for short-run monetary policy response to aid inflows between 1980 and 2010. In particular, the paper evaluates the existence of a “Dutch Disease†following an increase...

We investigate whether primary school completion has played any role on total fertility rates in all fifteen members of the Southern African Development Community (SADC) between 1980 and 2009. The evidence, based on panel time-series analysis, suggests that primary education has indeed reduced...

IThis paper analyses the modernisation hypothesis in the sub-Saharan African region. Using a sample of 48 countries from 1960 to 2010 and dynamic panel data analysis, we find a significant and negative relationship between income and democracy, an indication that the hypothesis may not hold in...

In this paper we investigate whether secondary school enrolment has played any role on total fertility rates in all fifteen members of the Southern African Development Community (SADC) between 1980 and 2009. The evidence, based on panel time-series analysis (we make use of the Pooled OLS, Fixed...