One strand of the empirical growth literature has cast doubt on the ability of the policy recommendations from Washington Consensus in enhancing growth. They argue that not only the design but also the policy mix has an important country-specific component (e.g.Hausmann, Rodrik, & Velasco, 2005;...

We document the properties of business cycles of 71 countries (23 industrial countries and 48 emerging market economies, or EMEs), from 1970q1 to 2012q4 using the Harding and Pagan dating algorithm. First, recessions are deeper, steeper and costlier among EMEs (especially in East Asia and Latin...

The growth prospects of a nation are stymied by the burden of government debt. This study has two goals: first, it tests whether public debt hinders growth; and, second, it explores whether economic policy ameliorates this effect. A large panel data of countries for 1970-2010 reveal a negative...

The main goal of the paper is to evaluate the sources of growth in Chile and the world in the last three decades, but stressing the role of complementarities in economic policies. Therefore, we evaluate the growth determinants for a sample of seventy-eigh

The main goal of the present paper is to evaluate the sources of growth in Chile and the world over the last decades, but stressing the role of complementarities in economic policies. Hence, we evaluate the growth determinants for a sample of 28 countries with information over the 1970-2000...