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Economics

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Government size and economic growth in developing countries: a political-economy framework

Article Abstract:

This article examines the relationship between economic development and government size in developing countries, focusing on whether or not a large government hinders or promotes growth. A model reveals that growth in government size negatively impacts economic development, but that in nondemocratic socialist systems the negative effects are three times larger than in a democratic market system.

Developing Countries, Socialism, Capitalism, Macroeconomics

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Interest rate convergence, capital controls, risk premia and foreign exchange market efficiency in the EMS

Article Abstract:

This article examines the convergence of interest rates between Germany and the other nations that belong to the European Monetary System. Findings indicate that interest rate convergence occurred after April of 1986, that capital controls influenced convergence, and that Germany played a key role in determining European monetary policy.

Europe, Germany, Foreign exchange, Interest rates, International economic relations, Monetary policy, European Monetary System

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Heterogeneous capital, economic growth, and economic development

Article Abstract:

This article examines the relationship between physical capital and economic growth. International economic data spanning over four decades provides insight into the contributions of the quality and quantity of labor and capital to economic development.

United States, Analysis, Economic research, Labor market, Capital

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