An Empirical Reassessment of the Relationship Between Finance and Growth
An Empirical Reassessment of the Relationship Between Finance and Growth

Author: Mr.Giovanni Favara

Publisher: International Monetary Fund

Published: 2003-06-01

Total Pages: 48

ISBN-13: 1451854633

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This paper reexamines the empirical relationship between financial development and economic growth. It presents evidence based on cross-section and panel data using an updated dataset, a variety of econometric methods, and two standard measures of financial development: the level of liquid liabilities of the banking system and the amount of credit issued to the private sector by banks and other financial institutions. The paper identifies two sets of findings. First, in contrast with the recent evidence of Levine, Loayza, and Beck (2001), cross-section and panel-data-instrumental-variables regressions reveal that the relationship between financial development and economic growth is, at best, weak. Second, there is evidence of nonlinearities in the data, suggesting that finance matters for growth only at intermediate levels of financial development. Moreover, using a procedure appropriately designed to estimate long-run relationships in a panel with heterogeneous slope coefficients, there is no clear indication that finance spurs economic growth. Instead, for some specifications, the relationship is, puzzlingly, negative.

State-Business Relations and Economic Development in Africa and India
State-Business Relations and Economic Development in Africa and India

Author: Kunal Sen

Publisher: Routledge

Published: 2013-05-07

Total Pages: 230

ISBN-13: 1135129061

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When the state and business interact effectively they can promote a more efficient allocation of scarce resources, appropriate industrial policy and a more effective and prioritised removal of key obstacles to growth, than when the two sides fail to co-operate or engage in harmful collusion. This book, based on original empirical research undertaken in Africa and India, addresses what constitutes the effectiveness of state-business relations, what explains their formation and evolution over time and whether effective state-business relations matter for economic performance. Analysing the effects of state-business relations on economic performance at both the macro and micro levels, the book concludes that where effective state-business relations are established – either through formal or informal institutional patterns and relationships – the growth effects are generally positive. Establishing, sustaining and renewing effective state-business relations are political processes. The better organized the business community and the government are for purposes of such relations, the more effective state-business relations will be in negotiating growth enhancing policies. The book is of interest to researchers in the fields of development studies, management, economics and political science.

IMF Staff Papers, Volume 48, No. 2
IMF Staff Papers, Volume 48, No. 2

Author: International Monetary Fund. Research Dept.

Publisher: International Monetary Fund

Published: 2001-12-12

Total Pages: 208

ISBN-13: 1451974256

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This paper analyzes the link between product variety and economic growth. It finds support for the hypothesis that a greater degree of product variety relative to the United States helps to explain relative per capita GDP levels. The paper presents an empirical study for South Africa, which indicates that there exists a stable money demand type of relationship among domestic prices, broad money, real income, and interest rates, as well as a long-term relationship among domestic prices, foreign prices, and the nominal exchange rate.

Frontier and Developing Asia
Frontier and Developing Asia

Author: Mr.Alfred Schipke

Publisher: International Monetary Fund

Published: 2015-04-10

Total Pages: 272

ISBN-13: 1498345611

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With a combined population of more than 350 million people, frontier and developing Asia, which includes countries such as Vietnam, Cambodia, and Bangladesh, is located in the world’s fastest-growing region and has favorable demographics. The countries share a number of common macroeconomic, financial, and structural challenges. This book addresses issues related to economic growth and structural transformation, as well as the risk of a poverty trap and rising income inequality.

Europe and its Regions
Europe and its Regions

Author: Gerd Grözinger

Publisher: Cambridge Scholars Publishing

Published: 2021-02-10

Total Pages: 304

ISBN-13: 1527566056

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Europe is getting closer. So are European social sciences. However, this is easier done in theory development and central research questions. When it comes to data the mutual understanding is far from perfect, due to a lack of knowledge about the data bases of the respective countries and the EU in general. This is particularly true when it comes to the regional level. This volume will help to improve the insight into the rich stock of European datasets which cover any kind of regional information. Many institutions ranging from statistical offices to more academic research centres and commercial enterprises report their offerings with special emphasis on the regional level (e.g. European Community Household Panel, European Social Survey, Labour Force Survey). Central categories such as NUTS and LAU are explained and discussed. In addition, typical examples of socio-economic cross-border and multi-level studies highlight the power of a regionalized European perspective. Furthermore, information about special tools for such type of analysis is included in the volume.

Handbook of the Economics of Education
Handbook of the Economics of Education

Author: Eric Alan Hanushek

Publisher: Elsevier

Published: 2006

Total Pages: 853

ISBN-13: 044451399X

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The Handbooks in Economics series continues to provide the various branches of economics with handbooks which are definitive reference sources, suitable for use by professional researchers, advanced graduate students, or by those seeking a teaching supplement. With contributions from leading researchers, each Handbook presents an accurate, self-contained survey of the current state of the topic under examination. These surveys summarize the most recent discussions in journals, and elucidate new developments. Although original material is also included, the main aim of this series is the provision of comprehensive and accessible surveys *Every volume contains contributions from leading researchers *Each Handbook presents an accurate, self-contained survey of a particular topic *The series provides comprehensive and accessible surveys

Natural Resources, Neither Curse nor Destiny
Natural Resources, Neither Curse nor Destiny

Author: Daniel Lederman

Publisher: World Bank Publications

Published: 2006-10-23

Total Pages: 396

ISBN-13: 0821365460

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'Natural Resources: Neither Course nor Destiny' brings together a variety of analytical perspectives, ranging from econometric analyses of economic growth to historical studies of successful development experiences in countries with abundant natural resources. The evidence suggests that natural resources are neither a curse nor destiny. Natural resources can actually spur economic development when combined with the accumulation of knowledge for economic innovation. Furthermore, natural resource abundance need not be the only determinant of the structure of trade in developing countries. In fact, the accumulation of knowledge, infrastructure, and the quality of governance all seem to determine not only what countries produce and export, but also how firms and workers produce any good.