I document that US financial uncertainty shocks, measured by an unexpected increase in VIX, have a substantial impact on the output of emerging market economies (EMEs) without material impact on US output during the last two decades. To understand this puzzling phenomenon, I propose an...

This paper mainly examines the effect of financial development on the recession, while controlling for potential recession factors. Using panel data of 129 countries spanning 1990-2010, we implemented "Locally Weighted Scatterplot Smoothing", "Local Linear" and "Iteratively Reweighted Least...

We investigate the effects of financial development on recession while controlling for potential recession factors using data of about 129 countries covering the 1990-2010 period. To the best of our knowledge, this is the first study examining this relationship using a plural and innovative...

The Grand Transition (GT) view claims that economic development is causal to institutional development, and that many institutional changes can be understood as transitions occurring at roughly the same level (zones) of development. The Primacy of Institutions (PoI) view claims that economic...

This study estimates and analyses publicly-mobilised private finance for climate action in South Africa, between 2010 and 2015. The mobilisation effect of public climate finance on private finance is first estimated through an analysis and attribution of project-level co-finance data. A...

The recent exacerbation of unemployment crisis in Nigeria stands to be a serious threat to both socio-economic stability and progress of the country just as the report from the nation's bureau of statistics shows that at least over 8.5 million people had no gainful employment at all as at the...

Joseph A. Schumpeter is one of the most famous economists of the 20th century and the ’patron saint’ of the finance and growth literature. We have discovered that the prevailing literature has, however, misinterpreted Schumpeter, which leads to puzzling empirical results and difficulties in...