In this paper, we examine the role of spillovers in economic growth for the Middle East and North Africa (MENA) region by accounting for spatial effects. Such spatial effects in growth for the MENA countries may arise on the basis of geography, bilateral trade or institutional similarities. We...

This paper characterizes the business cycle as a recurring Markov chain for a broad set of developed and developing countries. The objective is to understand differences in cyclical phenomena across a broad range of countries based on the behavior of two key economic times series - industrial...