The volatility of unanticipated output growth in income per capita is detrimental to long-run development, controlling … for initial income per capita, population growth, human capital, investment, openness and natural resource dependence … the black box and conditioning the variance of growth shocks on several country characteristics. Natural resource …

specialization. Second, we argue that Friedman pays insufficient attention to the spectacular growth of mega-cities in the developing … growth also goes hand in hand with formation of slums and congestion. We thus argue that there is a role for public policies. …

financial development, inflation, GDP growth and country fixed-effects, we find a relative decline in financial sector deposits …

Cross-country regressions suggest that urbanization and FDI are important drivers of growth. However, it is not clear … that primacy eventually hurts growth performance. Since it is tough to interpret cross-country growth regressions, we … and have good institutions, well developed financial systems, a high road density, a high income per capita and …

corrects for endogeneity of resource exports and allows resource abundance affect growth. Their results show that resource … exports are no longer significant while the value of subsoil assets has a significant positive effect on growth. But the World … longer significant. However, the same evidence suggests that resource exports or rents boost growth in stable countries, but …