Results 1 - 10 of 47,269

Africa´s Growth Tragedy: Policies and Ethnic Divisions

by William Easterly, Ross Levine - 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 ..."
Abstract - Cited by 1388 (72 self) - Add to MetaCart
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

by Robert J. Barro , 1996
"... In recent years, many central banks have placed increased emphasis on price stability. Monetary policy—whether expressed in terms of interest rates or growth of monetary aggregates—has been increasingly geared toward the achievement of low and stable inflation. Central bankers and most other obs ..."
Abstract - Cited by 3577 (23 self) - Add to MetaCart
In recent years, many central banks have placed increased emphasis on price stability. Monetary policy—whether expressed in terms of interest rates or growth of monetary aggregates—has been increasingly geared toward the achievement of low and stable inflation. Central bankers and most other

A model of growth through creative destruction

by Philippe Aghion, Peter Howitt , 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 ..."
Abstract - Cited by 1941 (27 self) - Add to MetaCart
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

by Robert J. Barro , 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 ..."
Abstract - Cited by 892 (12 self) - Add to MetaCart
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

by Raghuram G. Rajan, Luigi Zingales - 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 ..."
Abstract - Cited by 1086 (26 self) - Add to MetaCart
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

by Jeremy Greenwood, Boyan Jovanovic - 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 ..."
Abstract - Cited by 618 (7 self) - Add to MetaCart
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

by Robert J. Barro - 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 ..."
Abstract - Cited by 503 (4 self) - Add to MetaCart
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

by Ravi Bansal, Amir Yaron - 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 ..."
Abstract - Cited by 761 (63 self) - Add to MetaCart
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

by N. Gregory Mankiw, David Romer, David N. Weil - 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 ..."
Abstract - Cited by 1258 (12 self) - Add to MetaCart
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

by Andrew B. Bernard, J. Bradford Jensen - 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 ..."
Abstract - Cited by 709 (22 self) - Add to MetaCart
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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