contributed to Austria's post-war growth and the evolution of its pattern of trade over time. The paper looks at two lessons for …

. On the basis of observed growth in sectoral value added output, we calculate for each state the efficient frontier for … volatility of state output growth, rather than in its average. The realized industry shares of output also converge faster to …

? We argue that if this was the case, financially developed countries should see faster growth in industries with … investment opportunities due to global demand and productivity shifts. Testing this cross-industry cross-country growth …

capital and have greater growth opportunities. Also, higher accountability and lower income inequality are associated with …

. On the basis of observed growth in sectoral value-added output, we calculate for each state the efficient frontier for … primarily from convergence in the volatility of state output growth, rather than in its average. The realized industry shares of …

markets. In line with a large recent literature, it is reasonable to expect that financial integration will have a ‘growth … dividend’ in Europe. This Paper attempts to quantify this growth dividend, using both industry and firm-level data to estimate … the empirical relationship between financial market development and growth, and to gauge how it will distribute itself …

of productivity growth, but the effect depends critically on a country's level of financial development. For countries … with relatively low levels of financial development, exchange rate volatility generally reduces growth, whereas for … rate volatility, and outliers. We also offer a simple monetary growth model in which real exchange rate uncertainty …

Cross-country evidence is presented on resource dependence and the link between volatility and growth. First, growth … depends negatively on volatility of unanticipated output growth independent of initial income per capita, the average … growth. Second, the adverse effect of resources on growth operates primarily through higher volatility. The positive effect …