This paper surveys the recent literature on the links between public debt and economic
growth in advanced economies. We find that theoretical models yield ambiguous results …

The paper conducts a qualitative narrative appraisal of the existing empirical literature on
the key macroeconomic determinants of economic growth in developing and developed …

One of the earliest and most central insights of the literature on economic development is
that development entails structural change. The countries that manage to pull out of poverty …

For a century, economists have driven forward the cause of globalization in financial
institutions, labour markets, and trade. Yet there have been consistent warning signs that a …

This paper analyzes the role of real exchange rate (RER) policies in promoting economic
development. Markets provide a suboptimal amount of investment in sectors characterized …

Large gaps in labor productivity between the traditional and modern parts of the economy
are a fundamental reality of developing societies. In this paper, we document these gaps …

SSA has grown rapidly over the last decade, but a curious feature of this growth was that it
was accompanied by little structural change towards non-traditional tradables (such as …

This paper uses an instrumental variable approach to study whether public debt has a
causal effect on economic growth in a sample of OECD countries. The results are consistent …

Raghuram Rajan was one of the few economists who warned of the global financial crisis
before it hit. Now, as the world struggles to recover, it's tempting to blame what happened on …

This article examines the implications of the euro crisis for theories of political economy
associated with 'varieties of capitalism', considering how those theories help explain the …