In this paper, we set out to establish if there is a link between finance and economic growth in rural areas. In particular, we evaluate the relation between credit by major lenders in rural areas - commercial banks and Farm Credit System institutions - and economic growth for the period...

An empirical neoclassical growth model reveals that foreign investment incrementally contributed to the economic transition of 27 countries in Central and Eastern Europe during the transition period 1989 to 2003. The model departs from the theoretical and applied growth literatures by estimating...

Empirical growth regressions typically include mean years of schooling as a proxy for human capital. However, empirical research often finds that the sign and significance of schooling depends on the sample of observations or the specification of the model. We use a nonparametric local-linear...

Empirical growth regressions typically include mean years of schooling as a proxy for human capital. However, empirical research often finds that the sign and significance of schooling depends on the sample of observations or the specification of the model. We use a nonparametric local-linear...