This contribution investigates the channels through which the relationship between financial deepening and growth materializes. While this relationship has been extensively explored over the recent past, less attention has been paid to the channels through which the relationship comes about. In...

We examine whether the inflation rates of the countries that pursue inflation targeting policies have converged as opposed to the experience of the OECD non-inflation targeters. Using a methodology introduced by Pesaran (2007a), we examine the stationarity properties of the inflation...

This study investigates empirically the determinants of labor shares focusing on the role of investment and exchange rate volatility. The authors use a system GMM panel approach and consider 34 Organization for Economic Co-operation and Development (OECD) countries along with South Africa for...

Technological diffusion is mainly measured by the impact of Foreign Direct Investment presence on Total Factor Productivity or on a number of constructed output related indices. We apply an alternative process where the influx of more advanced technology introduced by foreign firms alters the...