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Ben-David, Dan; Loewy, Michael B - C.E.P.R. Discussion Papers - 1995

What is the impact of movement towards free trade on output? Can this impact permanently affect output levels, and more importantly, will it have an impact on steady-state growth rates? This paper provides empirical evidence showing how countries have exhibited substantial increases in their...

Persistent link: https://www.econbiz.de/10005666425

Growth and Macroeconomic Performance in Spain, 1939-93

Prados de la Escosura, Leandro - C.E.P.R. Discussion Papers - 1995

After presenting trends in aggregate performance within a comparative convergence framework, this paper explores institutional and macroeconomic features as the ultimate explanations of Spain's post-war growth performance. The following main phases are distinguished: the autarchy period...

Persistent link: https://www.econbiz.de/10005666440

Natural Resources and Economic Growth: The Role of Investment

Gylfason, Thorvaldur; Zoega, Gylfi - C.E.P.R. Discussion Papers - 2001

and investment. When the share of output that accrues to the owners of natural resources rises, the demand for capital … allocation of capital may, however, enhance the quantity as well as the quality of new investment and sustain growth. Empirical … thereby inhibiting economic growth. The results also suggest that abundant natural resources may hurt saving and investment …

Persistent link: https://www.econbiz.de/10005504629

Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation

Philippon, Thomas - C.E.P.R. Discussion Papers - 2014

A quantitative investigation of financial intermediation in the U.S. over the past 130 years yields the following results : (i) the finance industry’s share of GDP is high in the 1920s, low in the 1950s and 1960s, and high again in the 1990s and 2000s; (ii) most of these variations can be...

Persistent link: https://www.econbiz.de/10011083657

Post-war Growth: An Overview

Crafts, Nicholas; Toniolo, Gianni - C.E.P.R. Discussion Papers - 1995

-ante returns on investment. …

Persistent link: https://www.econbiz.de/10005661688

Growing like China

Song, Zheng Michael; Storesletten, Kjetil; Zilibotti, … - C.E.P.R. Discussion Papers - 2009

This paper constructs a growth model that is consistent with salient features of the Chinese growth experience since 1992: high output growth, sustained returns on capital investments, extensive reallocation within the manufacturing sector, falling labor share and accumulation of a large foreign...

Persistent link: https://www.econbiz.de/10005123794

Is Fixed Investment the Key to Economic Growth?

Blomström, Magnus; Lipsey, Robert E; Zejan, Mario - C.E.P.R. Discussion Papers - 1993

find no evidence that fixed investment is the only or main source of ignition for economic growth. …

Persistent link: https://www.econbiz.de/10005123986

`1992': Trade and Welfare; A General Equilibrium Model

Gasiorek, Michael; Smith, Alasdair; Venables, Anthony J - C.E.P.R. Discussion Papers - 1992

This paper investigates the consequences of the completion of the internal market in the EC using a computable general equilibrium model of trade under imperfect competition. The focus of the paper is the welfare consequences of reducing trade barriers and the changes in production and trade...

Persistent link: https://www.econbiz.de/10005504484

Country Asymmetries, Endogenous Product Choice and the Speed of Trade Liberalization

Cabrales, Antonio; Motta, Massimo - C.E.P.R. Discussion Papers - 1996

We analyse the effects of trade liberalization on firms' decisions and profits, and on consumers' welfare, in a product differentiation model with countries of different size. Firms decide product specifications at the beginning of the game, in which autarky is followed by trade liberalization...

Persistent link: https://www.econbiz.de/10005504506

Trade Adjustment and Human Capital Investments: Evidence from Indian Tariff Reform

Edmonds, Eric V; Pavcnik, Nina; Topalova, Petia - C.E.P.R. Discussion Papers - 2008

Does trade policy influence schooling and child labor decisions in low income countries? We examine this question in the context of India's 1991 tariff reforms. Overall, in the 1990s, rural India experienced a dramatic increase in schooling and decline in child labor. These trends were...

Persistent link: https://www.econbiz.de/10005504597