The authors study the empirical, cross-country relationship between macroeconomic volatility and long-run economic … growth. They address four central questions: 1) Does the volatility-growth link depend on country and policy characteristics … causal effect from volatility to growth? 3) Has this relationship been stable over time and has it become stronger in recent …

This paper examines how the ability to access long-term debt affects firm-level growth volatility. The analysis finds … growth volatility in countries with better-developed financial systems, as these firms may benefit from reduced refinancing … risk and therefore growth volatility associated with short-term financing. Increased availability of long-term finance …

The authors extend the recent literature on the link between financial development and economic volatility by focusing … on the channels through which the development of financial intermediaries affects economic volatility. Their theoretical … model predicts that well-developed financial intermediaries dampen the effect of real sector shocks on the volatility of …

and poor adults. This paper provides an overview of financial inclusion around the world and reviews the recent empirical …

across the world, using a set of newly constructed, comprehensive indicators of regulation in a large number of countries in … volatility employing cross-country regression analysis. In particular, the paper considers whether the effects of regulation are … increases volatility, although these effects are smaller the higher the quality of the overall institutional framework. …