Noting that 'one size does not fit all' in the case of the finance-growth (FG) nexus, a growing body of literature has recently focused on uncovering economic conditions under which financial development could be beneficial (detrimental) to economic development. We look into these conditions by...

Standard panel unit root tests (PURTs) are not robust to breaks in innovation variances. Consequently, recent papers have proposed PURTs that are pivotal in the presence of volatility shifts. The applicability of these tests, however, has been restricted to cases where the data contains only an...

We examine the effect of corruption control on the volatility of economic growth using cross‐country data that cover 131 economies worldwide for the period 1985–2018. To estimate the growth volatility model, we employ the system generalized method‐of‐moments estimator for dynamic panel...

In this paper, we use a geoadditve Bayesian stochastic frontier analysis to empirically assess the impact of provincial-level financial development, corruption control, and their interaction on firm efficiency in Vietnam. Using panel data from more than 40,000 Vietnamese firms during 2006-2013,...

Noting that few studies to date have investigated the determinants of social cohesion in a comprehensive and systematic manner, this paper examines the macro-level determinants of social cohesion using a panel of up to 92 developing and developed countries for the period 1990-2020. Employing the...

In 2021, the G20 committed to reallocate USD 100 billion of the International Monetary Fund's (IMF) recent allocation of Special Drawing Rights (SDRs) to low-income and vulnerable middle-income countries. However, most of these donations have been made to the IMF's Poverty Reduction and Growth...

Development finance is at a turning point, as the macroeconomic environment has changed profoundly and the financing gap for low- and middle-income countries has widened. The events that led to this new situation are the multiple crises that the global economy is facing, such as the climate...

This paper empirically investigates the role of nurture for the frequently reported differences in financial knowledge between women and men and uses a quasi-experimental framework comparing individuals who live in a matrilineal with those in a patriarchal environment in India. The results of...

Social cohesion has recently gained increasing attention in academic and policy circles. Apart from being a necessary feature of stable societies per se, social cohesion is also a key factor for sustainable economic development. One potential means through which social cohesion could foster...

This paper introduces a novel panel approach to structural vector autoregressive analysis. For identification, we impose independence of structural innovations at the pooled level. We demonstrate robustness of the method under cross‐sectional correlation and heterogeneity through simulation...