世界経済・社会統計 = World development indicators

Legal and accounting reform that strengthens creditor rights, contract enforcement, and accounting practices boosts financial development and accelerates economic growth. Levine, Loayza, and Beck evaluate: Whether the level of development of financial intermediaries exerts a casual influence on economic growth. Whether cross-country differences in legal and accounting systems (such as creditor rights, contract enforcement, and accounting standards) explain differences in the level of financial development. Using both traditional cross-section, instrumental-variable procedures and recent dynamic panel techniques, they find that development of financial intermediaries exerts a large causal impact on growth. The data also show that cross-country differences in legal and accounting systems help determine differences in financial development. Together, these findings suggest that legal and accounting reform that strengthens creditor rights, contract enforcement, and accounting practices boosts financial development and accelerates economic growth. This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to understand the links between the financial system and economic growth. Thorsten Beck may be contacted at tbeck@worldbank.org.

Financial Intermediation and Growth: Causality and Causes

http://faculty.haas.berkeley.edu/ross_levine/Papers/2000_JME_Fin%20Int%20Growth%20Causality.pdf

Financial intermediation and growth: Causality and causes ☆

Ethnic Groups in Conflict

Corruption and Growth

https://projects.iq.harvard.edu/files/gov2126/files/sdarticle-3.pdf

Corruption and Economic Growth

We develop an analytical framework to investigate some plausible channels that income inequality affects economic growth. Our empirical study concludes that income inequality has significant negative effect on the rate of GDP growth. Among the channels suggested by recent literature, we find that the most important one is the transfer channel while the least important one is the human capital channel. However, the direct impact of income inequality on the rate of productivity growth accounts for more than 55 percent of its overall total effect. This indicates that the effects of income inequality on economic growth are much more complicated than what we have perceived or modeled.

Income inequality and economic growth

This paper uses a new approach to estimate how government expenditures affect the growth rate of real GDP. They affect the growth rate through three channels - total factor productivity, investment and aggregate demand. We find that apart from government investment, all government expenditures have negative marginal effects on productivity and GDP growth. In particular, a 1 percentage point increase in the share of government consumption in GDP reduces the equilibrium GDP growth rate by 0.216 percentage points, while the same increase in government investment raises the growth rate by 0.167 percentage points. This suggests that a reallocation of 1 percentage point of government consumption to government investment can raise the growth rate by 0.38 percentage points.

Government expenditures and economic growth: The supply and demand sides

In this article, we examine empirically both the direct and indirect links between ethnic fragmentation and economic growth. We find that both ethnic fractionalization and polarization are negatively associated with growth if considered in isolation; an effect that is though primarily attributed to their link to other growth-related activities (i.e., investment, conflict, control of corruption, fertility). We study the corresponding transmission channels and calculate their relative importance in explaining a development curse based on ethnic diversity. For both measures of ethnic fragmentation, we find the corruption channel to be the most important one

https://papers.ssrn.com/sol3/Delivery.cfm/ECIN_ECIN12070.pdf?abstractid=2434883&mirid=4

Fractionalization, polarization, and economic growth: identifying the transmission channels

This paper asks an old but still unsettled question: what makes China China? Existing theories rely on either class, or market or cultural causes to explain the economic stagnation of imperial China. While accepting the basic proposition of the class based analysis, this paper adds a new component to the argument--the notion of effective competition. It establishes the vital role of effective competition on molding the development of China by contrasting the rapid transformation during the Ch'un Ch'iu and Warring States Period (722 to 221 B.C.) with the economic stagnation of the Unification Period (221 B.C. to 1911 A.D.). Copyright 1995 by WWZ and Helbing & Lichtenhahn Verlag AG

Pak Hung Mo

Papers

Corruption and Economic Growth

Income inequality and economic growth

Government expenditures and economic growth: The supply and demand sides

Fractionalization, polarization, and economic growth: identifying the transmission channels

Effective Competition and Economic Development of Imperial China