Showing 1 - 10 of 26
This paper proposes a novel financing scheme, reserve financing, for government infrastructure investment in China. A two-sector open economy model explores the consequences and policy implications of a surge in infrastructure investment financed by international reserves. The results show that...
Persistent link: https://www.econbiz.de/10010709429
A production function analysis of the 32 Mexican regions reveals almost no technological progress and human capital impact in Mexican industry over a 44 year period. While extensive growth is found prior to 1985, little evidence for extensive or intensive growth except for the labor input is...
Persistent link: https://www.econbiz.de/10010703087
Regional convergence has become a heated topic in the last decades. To address it, most papers define regions on the … – examining the external shape and movements within these distributions – is applied to analyse the issue of convergence. The … study does reveal the presence of a process of convergence across both types of regions; however, this seems to be more …
Persistent link: https://www.econbiz.de/10010577352
While there is ample evidence on the linkage between public debt and economic growth for national economies, far fewer investigations have been carried out at the subnational level. In this paper, we therefore study the long- and short-term relationship between regional public debt intensities...
Persistent link: https://www.econbiz.de/10011264205
In this paper, we add to the debate on the public capital–productivity link by applying very recent developments in the panel time series literature that take into account cross sectional correlation in non-stationary panels. In particular, we evaluate the productive effect of public capital...
Persistent link: https://www.econbiz.de/10010703085
speed of convergence. In accordance with the nature of the Solow framework, almost all empirical growth studies considered …, within this framework, the growth rate of technology varies across economies and over time. We estimate the convergence … approach. The empirical findings of the model support the conditional convergence hypothesis, but reveal a lower convergence …
Persistent link: https://www.econbiz.de/10011051511
Unlike in Asia, the manufacturing sector has not (yet) become a driver of structural change in Africa. One common explanation is that the natural resource-focus of many African economies leads to Dutch disease effects. To test this argument for the case of newly found oil in Ghana we develop a...
Persistent link: https://www.econbiz.de/10010785251
This paper examines the long-run relationship between top income shares and economic growth for a panel of nine high-income countries over the period from 1961 to 1996. We use panel cointegration and causality techniques that are robust to omitted variables, slope heterogeneity, and endogenous...
Persistent link: https://www.econbiz.de/10011051522
This paper examined an empirical investigation of whether financial development can boost economic growth in Tunisia. We used an Autoregressive Distributed Lag method to assess the finance-growth relation taking private credit, value traded and issuing bank's securities on the financial market...
Persistent link: https://www.econbiz.de/10010939739
In this paper we investigate the role of financial development, or more widespread access to finance, in generating economic growth in four Latin American countries between 1980 and 2007. The results, based on panel time-series data and analysis, confirm the Schumpeterian prediction which...
Persistent link: https://www.econbiz.de/10010573832