The casualty between stock market development and economic growth: evidence from the United States
The direction of causality between stock market development and economic growth in the case of the United States is investigated. The results indicated that there were stable long-run equilibrium relationships among the variables and that the stock market contains information about future changes in real income.
Publication Name: Studies in Economics and Finance
The evolution of human life expectancy and intelligence in Hunter-Gatherer economies
An analogy is drawn between the biological evolution of human characteristics from hunter-gatherer society to more sophisticated society and the evolution in an economy. Learning-by-doing is equated to indirect means of investment in the business.
Publication Name: American Economic Review
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