One of the most enduring debates in economics is whether financial development causes economic growth or whether it is a consequence of increased economic activity. Little research into this question, however has used a true causality framework. This paper fills this lacuna by using...

The empirical evidence suggests that there is a significant, negative relationship between inflation and economic growth. Conventional monetary growth models, however, predict a significantly smaller growth effect. This paper proposes a monetary growth model with an explicit credit service...

The purpose of this paper is to reassess the standard Solow growth model,using a dynamic panel data approach. A new methodology is chosen to deal with this problem. First, unit root tests for individual country time series were run. Second, panel data unit root and cointegration tests were...

Egypt accelerated its ongoing transition from a public sector dominated economy to a private sector led and market oriented economy after the collapse of oil prices in the mid-1980s. Some aspects of the economy, such as trade policy, have been substantially transformed since then whereas other...

An unstable macroeconomic environment is often regarded as detrimental to economic growth. Among the sources contributing to such instability, much of the blame has been assigned to political issues. This paper empirically tests for a causal and negative long-run relationship between political...

There is much talk of the knowledge economy, and the central role of ideas and knowledge in generating economic growth. This paper provides a brief review of the economic literature on how skills/ knowledge/ ideas might contribute to higher output or higher rates of growth. Ideas are...

Regardless of the reasons leading to its formation, it is widely accepted that geographical concentration of economic activity triggers increases in productivity. However, there are almost no studies that analyze the relationship between geographical concentration and economic growth. Moreover,...

Economic phenomena are interrelated. From a growth perspective, time analysis concerning the choices of present and future consumption and the choices between the allocation of scientific resources should be combined with a space analysis regarding the dissemination of economic activity through...

The purpose of this paper is to put the future of the US dollar into a logical framework which comprises the global development mechanism. Two models of growth collide: the US «locomotive», based on the international use of the dollar, and which requires exogenous pushes coming permanently...

Economic growth and development is a complicated process that falls into the domain of many disciplines in social sciences and humanities. It is natural then to study fundamental aspects of economic growth synthesizing research in relevant fields. In this short paper, we argue that this has...