Topic
Negative relationship
About: Negative relationship is a research topic. Over the lifetime, 4727 publications have been published within this topic receiving 123732 citations.
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TL;DR: This article showed that there is a strong negative relationship between initial inequality in the asset distribution and long-term growth, and that policies that increase aggregate investment and facilitate acquisition of assets by the poor might be doubly beneficial for growth and poverty reduction.
1,739 citations
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TL;DR: In this paper, the authors present empirical evidence against the standard dichotomy in macroeconomics that separates growth from the volatility of economic fluctuations and find that countries with higher volatility have lower growth.
Abstract: This paper presents empirical evidence against the standard dichotomy in macroeconomics that separates growth from the volatility of economic fluctuations. In a sample of ninety-two countries as well as a sample of OECD countries, the authors find that countries with higher volatility have lower growth. The addition of standard control variables strengthens the negative relationship. The authors also find that government spending-induced volatility is negatively associated with growth even after controlling for both time- and country-fixed effects. Copyright 1995 by American Economic Association.
1,585 citations
TL;DR: In this paper, a strong negative relationship between firm-level capital investment and the aggregate level of uncertainty associated with future policy and regulatory outcomes is found, and the relation between policy uncertainty and capital investment is not uniform in the cross section, being significantly stronger for firms with a higher degree of investment irreversibility and for firms more dependent on government spending.
Abstract: Using the policy uncertainty index of Baker, Bloom, and Davis (2013), we document a strong negative relationship between firm-level capital investment and the aggregate level of uncertainty associated with future policy and regulatory outcomes. More importantly, we find evidence that the relation between policy uncertainty and capital investment is not uniform in the cross section, being significantly stronger for firms with a higher degree of investment irreversibility and for firms which are more dependent on government spending. Our results lend empirical support to the notion that policy uncertainty can depress corporate investment by inducing precautionary delays due to investment irreversibility.
1,164 citations
TL;DR: In this article, the authors empirically assess the relationship between inflation and bank lending and stock market performance and find that there is a significant and economically important negative relationship between the rate of inflation and both banking sector development and equity market activity.
1,090 citations
TL;DR: In this article, a structural model of import demand in which insecurity acts as a hidden tax on trade is proposed, and the authors find that inadequate institutions constrain trade as much as tariffs do.
Abstract: Corruption and imperfect contract enforcement dramatically reduce international trade. This paper estimates the reduction using a structural model of import demand in which insecurity acts as a hidden tax on trade. We find that inadequate institutions constrain trade as much as tariffs do. We also find that omission of indices of institutional quality biases the estimates of typical gravity models, obscuring a negative relationship between per capita income and the share of total expenditure devoted to traded goods. Finally, we argue that cross-country variation in the effectiveness of institutions and the consequent variation in the prices of traded goods offer a simple explanation for the stylized fact that high-income, capital-abundant countries trade disproportionately with each other.
1,001 citations