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47,269
Africa´s Growth Tragedy: Policies and Ethnic Divisions
- JOURNAL OF ECONOMICS
, 1997
"... Explaining cross-country differences in growth rates requires not only an understanding of the link between growth and public policies, but also an understanding of why countries choose different public policies. This paper shows that ethnic diversity helps explain cross-country differences in publi ..."
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Cited by 1388 (72 self)
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Explaining cross-country differences in growth rates requires not only an understanding of the link between growth and public policies, but also an understanding of why countries choose different public policies. This paper shows that ethnic diversity helps explain cross-country differences
Inflation and Growth
, 1996
"... In recent years, many central banks have placed increased emphasis on price stability. Monetary policyâwhether expressed in terms of interest rates or growth of monetary aggregatesâhas been increasingly geared toward the achievement of low and stable inflation. Central bankers and most other obs ..."
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Cited by 3577 (23 self)
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In recent years, many central banks have placed increased emphasis on price stability. Monetary policyâwhether expressed in terms of interest rates or growth of monetary aggregatesâhas been increasingly geared toward the achievement of low and stable inflation. Central bankers and most other
A model of growth through creative destruction
, 1990
"... This paper develops a model based on Schumpeter's process of creative destruction. It departs from existing models of endogeneous growth in emphasizing obsolescence of old technologies induced by the accumulation of knowledge and the resulting process or industrial innovations. This has both ..."
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Cited by 1941 (27 self)
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the log of GNP follows a random walk with drift. The size of the drift is the average growth rate of the economy and it is endogeneous to the model; in particular it depends on the size and likilihood of innovations resulting from research and also on the degree of market power available to an innovator.
Determinants of Economic Growth: A Cross-Country Empirical Study
, 1996
"... Empirical findings for a panel of around 100 countries from 1960 to 1990 strongly support the general notion of conditional convergence. For a given starting level of real per capita GDP, the growth rate is enhanced by higher initial schooling and life expectancy, lower fertility, lower government c ..."
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Cited by 892 (12 self)
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Empirical findings for a panel of around 100 countries from 1960 to 1990 strongly support the general notion of conditional convergence. For a given starting level of real per capita GDP, the growth rate is enhanced by higher initial schooling and life expectancy, lower fertility, lower government
Financial Dependence and Growth
- American Economic Review
, 1998
"... This paper examines whether nancial development facilitates economic growth by scrutinizing one rationale for such a relationship; that nancial development reduces the costs of external nance to rms. Speci cally, we ask whether industrial sectors that are relatively more in need of external nance de ..."
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Cited by 1086 (26 self)
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as far back as Joseph A. Schumpeter (1911), emphasizes the positive in uence of the development of a country's nancial sector on the level and the rate of growth of its per capita income. The argument essentially is that the services the nancial sector provides { of reallocating capital
Financial Development, Growth, and the Distribution of Income
- Journal of Political Economy
, 1990
"... A paradigm is presented in which both the extent of financial intermediation and the rate of economic growth are endogenously determined. Financial intermediation promotes growth because it allows a higher rate of return to be earned on capital, and growth in turn provides the means to implement cos ..."
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Cited by 618 (7 self)
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A paradigm is presented in which both the extent of financial intermediation and the rate of economic growth are endogenously determined. Financial intermediation promotes growth because it allows a higher rate of return to be earned on capital, and growth in turn provides the means to implement
Inequality and Growth in a Panel of Countries
- JOURNAL OF ECONOMIC GROWTH
, 1999
"... Evidence from a broad panel of countries shows little overall relation between income inequality and rates of growth and investment. However, for growth, higher inequality tends to retard growth in poor countries and encourage growth in richer places. The Kuznets curve—whereby inequality first incre ..."
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Cited by 503 (4 self)
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Evidence from a broad panel of countries shows little overall relation between income inequality and rates of growth and investment. However, for growth, higher inequality tends to retard growth in poor countries and encourage growth in richer places. The Kuznets curve—whereby inequality first
Risks for the long run: A potential resolution of asset pricing puzzles
- JOURNAL OF FINANCE
, 1994
"... We model consumption and dividend growth rates as containing (i) a small long-run predictable component and (ii) fluctuating economic uncertainty (consumption volatility). These dynamics, for which we provide empirical support, in conjunction with Epstein and Zin’s (1989) preferences, can explain ke ..."
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Cited by 761 (63 self)
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We model consumption and dividend growth rates as containing (i) a small long-run predictable component and (ii) fluctuating economic uncertainty (consumption volatility). These dynamics, for which we provide empirical support, in conjunction with Epstein and Zin’s (1989) preferences, can explain
A Contribution to the Empirics of Economic Growth
- Quarterly Journal of Economics
, 1992
"... This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data. The paper a ..."
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Cited by 1258 (12 self)
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also examines the implications of the Solow model for convergence in standards of living, that is, for whether poor countries tend to grow faster than rich countries. The evidence indicates that, holding population growth and capital accumulation constant, countries converge at about the rate
Exceptional Exporter Performance: Cause, Effect or Both
- Journal of International Economics
, 1999
"... A growing body of empirical work has documented the superior performance characteristics of exporting plants and firms relative to non-exporters. Employment, shipments, wages, productivity and capital intensity are all higher at exporters at any given moment. This paper asks whether good firms becom ..."
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Cited by 709 (22 self)
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become exporters or whether exporting improves firm performance. The evidence is quite clear on one point: good firms become exporters, both growth rates and levels of success measures are higher ex-ante for exporters. The benefits of exporting for the firm are less clear. Employment growth
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47,269