Thresholds of inflation, government size, trade openness, and per capita income for the finance-growth nexus are investigated using five-year averages of standard variables for 84 countries from 1965 to 2004. The results suggest that (i) high inflation crowds out positive effects of financial...

Using data from the Groningen Growth and Development Center's Africa Sector Database and the Demographic and Health Surveys, we show that much of Africa's recent growth and poverty reduction has been associated with a substantive decline in the share of the labor force engaged in agriculture....

As strategies for achieving sustainable growth in developing countries are re-examined in light of the financial crisis, it is critical to take into account structural change and its corollary, industrial upgrading. Economic literature has devoted a great deal of attention to the analysis of...

Based on an analysis of dynamic inter-related factor demand functions estimated for different industry groups over the period 1960-61 to 1993-94, the present study provides evidence of existence of significant adjustment lags in employment which can complement other documented factors in...