Kharroubi, Enisse - In: The World Bank Economic Review 21 (2007) 3, pp. 439-460
and risk premium being actuarially fair). These two sources of aggregate volatility reduce growth through independent … channels; the probability of a run reduces the average return on the entrepreneur's projects, whereas the volatility R 2 r on … and Different Volatility Measures Dependent variable: GDP per capita growth Regression 1 Log of initial GDP per capita …