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countries outside Europe. The empirical findings on the importance of institutions are robust to various measures of output …
Persistent link: https://www.econbiz.de/10011606008
Persistent link: https://www.econbiz.de/10011619535
The decrease in the rule of law and in control of corruption in several EU countries is a threat to the cohesion in the EU. Brexit has reinforced the centrifugal forces in the EU. To counter this threat the EU needs to engage in unpopular measures as they infringe on the Member States'...
Persistent link: https://www.econbiz.de/10011516715
innovation in terms of productivity and growth. Moreover, measured productivity differentials between Europe and the United … Europe. While in the recent past the research and policy debate in Europe has focused on fostering financial integration, the … literature. The results suggest that there are a number of ways in which the financial market framework conditions in Europe can …
Persistent link: https://www.econbiz.de/10013316887
-non-tradable framework (T-NT) to evaluate the heterogeneity in labour productivity before and after the great recession. We find that, across … all countries, non-tradables were less relevant for aggregate productivity. The low productivity growth in peripheral EU … in the legal system help to explain the observed productivity growth differentials. …
Persistent link: https://www.econbiz.de/10011775650
The paper aims to analyse the impact of government debt on the country’s economic growth. Beginning of the economic crisis in 2007 and rapid growth of government debt has attracted interest in this topic. Government debt-to-GDP ratio in the EU has increased from 58.7 to 86.8 percent from 2007...
Persistent link: https://www.econbiz.de/10011537643
The aim of this paper is to assess the importance of economic institutions, measured by an index built from the E.B.R.D. (European Bank for Reconstruction and Development) indicators, for the pattern of economic growth. Though it focuses on a particular set of transition economies, it is also...
Persistent link: https://www.econbiz.de/10008673586
Economists have a long argue that political process such as democracy and corruption are important for economic growth. Our objective in this paper is to demonstrate that one of democracy's indirect posititive effects is its ability to mitigate the negative effect of corruption on economic...
Persistent link: https://www.econbiz.de/10011107346
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....
Persistent link: https://www.econbiz.de/10011308548
Measures of institutional quality are strong predictors of cross-country differences in income and productivity. The …
Persistent link: https://www.econbiz.de/10012900823