On the eve of its 60th anniversary, the gravity model of trade is a 'celebrity', due to its intuitive appeal, solid theoretical foundations, and remarkable empirical success. Yet, many economists still view gravity simply as an intuitive but naive reduced-form estimating equation and apply it...

On the eve of its 60th anniversary, the gravity model of trade is a "celebrity", due to its intuitive appeal, solid theoretical foundations, and remarkable empirical success. Yet, many economists still view gravity simply as an intuitive but naive reduced-form estimating equation and apply it...

Economic development is a nonlinear process. Intense economic activity in a given region can be followed by periods of poor growth or even by decline in the economic activity.Numerous and diverse factors affect the rate of economic growth of an area / region. Such factors are related to:global...