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This paper contributes to the empirical literature on the non-trivial relationship between financial development and economic growth. Based on panel data from 98 developed and developing countries, we show that for smooth economic development, balanced growth of both the industrial and financial...
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, Joseph E. Stiglitz and Bruce C. Greenwald cast light on the significance of this insight for economic theory and policy …Walter Frick:[A] sweeping work of macroeconomic theory. Robert Kuttner, coeditor, The American Prospect:Joseph E …, Director, Institute of Economics, Scuola Superiore Sant'Anna:An impressive tour de force, from the theory of the firm all the …
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The key institution that determines sustained growth in R&D-based growth models is the strength of intellectual property rights, which are usually assumed to be exogenous. In this paper we endogenize the strength of the intellectual property rights and show how private incentives to protect...
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