We consider a situation where the relatively ‘poor’ are concerned about their relative income status with respect to a relevant reference group. Such a concern is explicitly introduced in a utility function to study the consumption and saving behavior of the poor in terms of a static and...

The purpose of this paper is to propose a model where trade has a direct and positive impact on growth rate of two trading nations beyond the level effect. We use the idea of virtual trade in intermediates induced by non- overlapping time zones and show how trade can increase the equilibrium...

We consider a growth model with education, externalities and a cultural norm . We show that endogenous emergence of this cultural belief may lead to increasing the stock of human capital and accelerating national growth.The mechanism of this internalization is based on the existence of...

The purpose of preliminary is to present a broad agenda of theoretical and empirical modeling about the fundamental links between the quality of governance, financial development and economic development. The main theoretical predictions and evidence are of a large importance in terms of...

We present an endogenous growth model with technological externalities emitted the presence of the foreign direct investments. We showed that the net positive impact on the growth of these investments may be if and only if the host country such as Morocco has reached a minimal level of human...

We propose a two-country growth model of intermediate business-services trade that captures the role of time zone differences. It is shown that a time-saving improvement in intermediate business-services trade involving production in different time zones can have a permanent impact on productivity.

We integrate a social norm which associates status to accumulation of capital and consumption into a simple model of endogenous growth. We show that societies which place a greater weight of cultural values on stock of accumulated capital as opposed to consumption will experience fast growth....