We develop a horizontal R&D growth model that allows us to investigate the different channels through which financial … sector produces a straightforward result: a decrease in lending rates which stimulates R&D investment and economic growth …

economic growth that has accumulated over the past quarter-century. The bulk of the historical evidence suggests that financial … development a¤ects economic growth in a positive, monotonic way, yet recent research endeavors have provided useful and … financial markets benefit society, as well as the channels through which finance can slow down long-term growth. …

growing. The paper investigates the impact of exchange rate stability on growth for a sample of 41 mostly small open economies … important transmission channels from exchange rate stability to more growth. It is argued that fixed exchange rates provide a … accelerating growth. Panel estimations reveal a robust negative relationship between exchange rate volatility and growth for …

I analyze output growth, volatility, and skewness as the joint outcomes of financial openness. Using an industry panel … of 53 countries over 45 years, I find that financial openness increases simultaneously mean growth and the negative … skewness of the growth process. The increase in output skewness appears to come from a more negatively skewed distribution of …

to GDP growth in the euro area. Using identified high-frequency shocks in a growth-at-risk framework, we show that …-term growth risks increase substantially following contractionary monetary policy shocks. In contrast, these risks remain …

digitalisation on economic growth, and how those effects may be impacted by institutions and governance. It discusses a number of … institutions and governance tend to be associated with greater growth-enhancing effects from digital technologies. …