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 …

and short-term planning horizon can also lead to such underinvestment. Subsequently, banks can stimulate growth …

In this paper, we quantitatively assess the welfare implications of alternative public education spending rules. To … only when the policy instrument is successful in smoothing the growth rate of human capital. …

switch to private provision welfare improving for all agents including public employees. …

This paper examines the relationship between financial development, CO2 emissions, trade and economic growth using … is evidence of bidirectional causality between CO2 emissions and economic growth. Economic growth and trade openness are … financial development to economic growth and from trade openness to CO2 emissions is identified. Our empirical results also …

suited to maximizing welfare of the host country. We show that welfare under a safe haven rule is higher than under an … earnings stripping rule if firms are not able to manipulate transfer prices. Welfare, however, can be higher under an earnings …