Journal ArticleDOI
Africa's Growth Tragedy: Policies and Ethnic Divisions
William Easterly,Ross Levine +1 more
TLDR
This article showed that ethnic diversity helps explain cross-country differences in public policies and other economic indicators in Sub-Saharan Africa, and that high ethnic fragmentation explains a significant part of most of these characteristics.Abstract:
Explaining cross-country differences in growth rates requires not only an understanding of the link between growth and public policies, but also an understanding of why countries choose different public policies. This paper shows that ethnic diversity helps explain cross-country differences in public policies and other economic indicators. In the case of Sub-Saharan Africa, economic growth is associated with low schooling, political instability, underdeveloped financial systems, distorted foreign exchange markets, high government deficits, and insufficient infrastructure. Africa's high ethnic fragmentation explains a significant part of most of these characteristics.read more
Citations
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Journal ArticleDOI
Economic growth in the twentieth century
TL;DR: In this article, the authors reviewed the plausibility of innovation-based theories of endogenous growth, the reasons for the commonplace failure of fast-growing countries to sustain their growth, and the impact of technological revolutions on productivity growth.
Book ChapterDOI
Chapter 4 - Family Ties
Alberto Alesina,Paola Giuliano +1 more
TL;DR: This paper found that strong family ties are negatively correlated with generalized trust; they imply more household production and less participation in the labor market of women, young adult, and elderly, and they are correlated with lower interest and participation in political activities and prefer labor market regulation and welfare systems based upon the family rather than the market or the government.
Journal ArticleDOI
Do Ethnic Parties Promote Minority Ethnic Conflict
TL;DR: The authors found that ethnic parties do mobilize minority ethnic groups to engage in protest, but there is no natural connection between the appearance of ethnic parties and the extent to which the minority group engages in communal conflict.
Posted Content
Redefining the Role of the State
Brian Snowdon,Joseph E. Stiglitz +1 more
TL;DR: Stiglitz as discussed by the authors has made seminal contributions to the analysis of the economic consequences of incomplete information and uncertainty, which has greatly enhanced economists understanding of the welfare properties of markets and the sources of market failure.
Journal ArticleDOI
Venture Capital Investments in Europe and Portfolio Firms' Economic Performance: Independent Versus Corporate Investors
TL;DR: In this article, the authors assess the impact of independent (IVC) and corporate venture capital (CVC) investments on the economic performance of European high-tech entrepreneurial firms during the period 1992-2010.
References
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The mechanics of economic development
Abstract: This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing.
Journal ArticleDOI
On the mechanics of economic development
TL;DR: In this article, the authors consider the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development, and compare three models and compared to evidence.
Posted Content
Law and Finance
Rafael La Porta,Rafael La Porta,Florencio Lopez de Silanes,Florencio Lopez de Silanes,Andrei Shleifer,Andrei Shleifer,Robert W. Vishny,Robert W. Vishny +7 more
TL;DR: This paper examined legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries and found that common law countries generally have the best, and French civil law countries the worst, legal protections of investors.
ReportDOI
Economic Growth in a Cross Section of Countries
TL;DR: For 98 countries in the period 1960-1985, the growth rate of real per capita GDP is positively related to initial human capital (proxied by 1960 school-enrollment rates) and negatively related to the initial (1960) level as mentioned in this paper.
Journal ArticleDOI
Finance and Growth: Schumpeter Might Be Right
TL;DR: In this paper, the authors examined a cross-section of about 80 countries for the period 1960-89 and found that various measures of financial development are strongly associated with both current and later rates of economic growth.