This study investigates the channels through which macroeconomic and institutional instability hinders innovative investment undertakings financed by the domestic private sector. The analysis is based on a sample of 44 countries and considers various instability dimensions. The results suggest a...

While over-financing caused crises and slow growth in advanced economies including Germany, France and the UK after 2008, more prudent financial deepening sustained higher economic growth in China and India—two major emerging economies in the world. The actual financial deepening ratios (AFDR)...

This study considers the effects of financial development on output in a panel cointegration framework, focusing on the implications of trade and financial openness. Our analysis indicates that after controlling for cross-sectional dependence, the typical relationship between finance and output...

Markets for cash-crops in developing countries are typically characterized by a concentration of buyer power at different levels of the supply chain. For instance, small-scale coffee farmers sell their produce to a middleman, who in turn sells the coffee onward to an exporter, often a foreign...

The objective of this study is to analyze cross-border contagious dynamics in both foreign exchange markets and stock exchange markets. Propagation is analyzed with respect to the transmission of excessive volatility that is endogenously determined. The contagion process is discussed in the...

Renewed attention to inequality and saving has arisen owing to their pronounced implications for global imbalances and financial crises. We show that the relationship between saving and inequality is negative if savers' funds are borrowed by spending households for consumption as in the USA, but...

The paper is devoted to construction of optimal trajectories in the model, which balances growth trends of investments in capital and labor efficiency. The model is constructed within the framework of classical approaches of the growth theory. It is based on three production factors: capital,...

The objective of this study is to calculate and decompose productivity incorporating multi-environmental pollutants in Chinese industrial sectors from 1992 to 2008. We apply a weighted Russell directional distance model to calculate productivity from both the economic and environmental...

We use field data to investigate factors that influence parents' decisions to enrol children in schools in rural Ghana. The empirical results identified a host of socio-economic and household-level factors including remittances parents expect from investing in education, parents perception of a...

In this paper, we empirically test the determinants of growth, as derived from a semi-endogenous growth model, in terms of its poverty-reducing effects. We base our empirical analysis of the growth and distribution effect of economic policies on a panel data set of 59 developing countries,...