This paper examines the determinants of economic growth in developing countries within the standard growth regression framework, with special attention being paid to the experience of landlocked countries. The results confirm the findings of previous studies that landlockedness hampers economic...

This study examines the impact of two dimensions of the government, namely, size and quality, on two dimensions of the financial sector, size and efficiency, in a cross section of 71 economies. The study finds that while increased quality of the government as measured by governance and legal...

This article investigates whether female political representation affects economic growth. Panel estimates for 119 democracies using fixed effects specifications and a system generalized method of moments approach suggest that, over recent decades, countries with higher shares of women in...

We investigate the partial effects of institutions and human capital on growth. We find that cross-country regressions of the log-level of per capita GDP on instrumented measures of institutions and schooling are uninformative about the relative importance of institutions and human capital in...

The 1990s appreciation of the US$ has been blamed on the 'irrational exuberance' of investors in the US IT boom. A core of these investors appeared to believe that technology-related productivity growth (due, in part, to knowledge spill-over externalities) would raise the relative US rate of...

International pressure to revalue China's currency stems in part from the expectation that rapid economic growth should be associated with a real exchange rate appreciation. This hinges on the Balassa-Samuelson hypothesis under which economic growth, stemming from improvements in traded sector...

The world's two population giants have undergone significant, and significantly different, demographic transitions since the 1950s. The demographic dividends associated with these transitions during the first three decades of this century are examined using a global economic model that...

A new set of estimates of policy induced distortions to relative prices is used to examine how they affect economic growth. We find that on impact there is no significant response of relative agricultural price distortions to changes in real GDP per capita growth of Sub-Saharan African...