Human capital measures (schooling) are poorly significant in explaining growth for developing countries. An explanation is that increases in human capital have no significant effect on growth if this human capital is misallocated and underemployed. In a simple two-sector model of a small open...

This article is a contribution to the analysis of financial development diversity in developing countries and lies within model of capitalism’s framework. By taking into account the degree of control of banking system and securities markets, our empirical analysis produces a three-group...

The paper aims at contributing to the debate on conditional convergence across Chinese provinces by using the most recent techniques of dynamics panel data models. The analysis covers twenty nine Chinese provinces from 1995 to 2009 and is based on the estimation of growth equations using system...

In this paper, we argue that the inadequacy of their underlying formal model can explain the failure of the existing empirical studies to exhibit a robust and convergent estimation of the effect of FDI on growth. We build a structural model of growth with endogenous attraction to FDI, and we...