This paper examines the determinants of economic growth in developing countries within the standard growth regression framework, with special attention being paid to the experience of landlocked countries. The results confirm the findings of previous studies that landlockedness hampers economic...

This study examines the impact of two dimensions of the government, namely, size and quality, on two dimensions of the financial sector, size and efficiency, in a cross section of 71 economies. The study finds that while increased quality of the government as measured by governance and legal...

This article investigates whether female political representation affects economic growth. Panel estimates for 119 democracies using fixed effects specifications and a system generalized method of moments approach suggest that, over recent decades, countries with higher shares of women in...

We investigate the partial effects of institutions and human capital on growth. We find that cross-country regressions of the log-level of per capita GDP on instrumented measures of institutions and schooling are uninformative about the relative importance of institutions and human capital in...

Opinion over the global implications of China‘s rise is divided between critics, who see it as having developed at the expense of both investment and employment in the US, Europe and Japan and proponents who emphasise improvements in the terms of trade and reductions to the cost of financing...

The prediction of future temperature increases depends critically on the projections of future greenhouse gas emissions. Yet there is a vigorous debate about how these projections should be undertaken and how reasonable is the approach of the Special Report on Emissions Scenarios (SRES)...

Standard macro models cannot explain why real exchange rates are volatile and disconnected from macro aggregates. Recent research argues that models with persistent growth rate shocks and recursive preferences can solve that puzzle. I show that this result is highly sensitive to the structure of...

The notion of "convergence" of economic variables across countries is a useful concept and in the case of income per capita, a well studied area. If there is empirical evidence of convergence of some economic variables across countries, then our ability to prdict the future (or at least...