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on Financial Development and Growth |
| By: | Robert J. Barro (Harvard University) |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:cuf:wpaper:571&r=fdg |
| By: | Robert J. Barro (Harvard University) |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:cuf:wpaper:572&r=fdg |
| By: | Haskel, J; Corrado, C; Jona-Lasinio, C; Iommi, M |
| Date: | 2012–08–10 |
| URL: | http://d.repec.org/n?u=RePEc:imp:wpaper:9913&r=fdg |
| By: | Haskel, J; Goodridge, P; Wallis, G |
| Date: | 2012–08–21 |
| URL: | http://d.repec.org/n?u=RePEc:imp:wpaper:10009&r=fdg |
| By: | Nyamwange, Mathew |
| Abstract: | This study advices on a suitable strategy for financing healthcare in Kenya as the sector faces challenges of underfunding with an increased demand of quality and availability of health care services that are equitable and affordable for a growing population.The study examines the effect of per capita gross domestic product (GDP per capita) on public healthcare expenditure (PHCE) in Kenya, and uses estimates of public recurrent & development expenditures, (1982 - 2012), as well as the economic survey and statistical abstracts for the same years. The analysis is a time series estimation of the effect of per capita gross domestic product on public healthcare expenditure, so as to explain the minimum amount of funding that the government should direct to public healthcare expense given future predictions of GDP per capita by institutions like World Bank. The study employs OLS regression and checks for co-integration on the long-run relationship between PHCE and GDP per capita, as well as other tests of granger causality, unit root presence and stationarity and study attempts to determine the properties of healthcare in Kenya. Results reveal that healthcare in Kenya is a necessary good and has an elasticity of 0.024% to GDP per capita. This is to mean that for every 1% increase in GDP per capita, PHCE should increase by 0.024%. |
| Keywords: | Public Healthcare Expenditure; Economic Growth; Kenya Healthcare Financing; |
| JEL: | E0 H0 A1 C0 D9 B4 H5 E6 H6 C2 I1 |
| Date: | 2012–11–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:43707&r=fdg |
| By: | Lin, Xiaoji (OH State University) |
| Abstract: | I study the cross sectional variation of stock returns and technological progress using a dynamic equilibrium model with production. In the model, technological progress is endogenously driven by R&D investment and is composed of two parts. One part is product innovation devoted to creating new products; the other part is dedicated to increasing the productivity of physical investment and is embodied in new tangible capital (e.g., structures and equipment). The model breaks the symmetry assumed in standard models between intangible capital and tangible capital, in which the accumulation processes of tangible capital stock and intangible capital stock do not affect each other. The model explains qualitatively and in many cases quantitatively well-documented empirical regularities: (i) the positive relation between R&D investment and the average stock returns; (ii) the negative relation between physical investment and the average stock returns; and (iii) the positive relation between book-to-market ratio and the average stock returns. |
| JEL: | E23 E44 G12 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:ecl:ohidic:2012-22&r=fdg |
| By: | Michael MacLennan (IPC-IG) |
| Abstract: | The economic lens, through which development has been viewed for over 250 years, has often promoted growth at the expense of the environment. However, today, harm to the environment in the pursuit of economic growth has begun to threaten both growth itself and indicators of social progress (World Bank, 2012). The argument for greener growth in this context thus places a greater focus on maximising the ?socio-economic? development synergies alongside minimising pollution, environmental degradation and socio-environmental harms. This focus is of particular importance for sectors of acute economic importance and high growth that serve as catalysts for social, economic or environmental problems. Extractive industries (EIs) of the Southern African Development Community (SADC) are such a sector (ibid.). (?) |
| Keywords: | Locating the Policy Space for Inclusive Green Growth within the SADC Extractive Sector |
| Date: | 2012–12 |
| URL: | http://d.repec.org/n?u=RePEc:ipc:pbrief:38&r=fdg |
| By: | Belo, Frederico (University of MN); Lin, Xiaoji (OH State University) |
| Abstract: | Previous studies show that firms with low inventory growth outperform firms with high inventory growth in the cross-section of publicly traded firms. In addition, inventory investment is volatile and procyclical, and inventory-to-sales is persistent and countercyclical. We embed an inventory holding motive into the investment-based asset pricing framework by modeling inventory as a factor of production with convex and nonconvex adjustment costs. The augmented model simultaneously matches the large inventory growth spread in the data, as well as the time-series properties of the firm level capital investment, inventory investment, and inventory-to-sales. Our conditional single-factor model also implies that traditional unconditional factor models such as the CAPM should fail to explain the inventory growth spread, although not with the same large pricing errors observed in the data. |
| JEL: | E22 E23 E44 G12 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:ecl:ohidic:2012-23&r=fdg |
| By: | António Afonso |
| Abstract: | After entering the EU in 1986, Portugal benefited from low interest rates and some growth momentum. However, the difficulty in taming fiscal imbalances, the pro-cyclicality of fiscal policy, the use of extraordinary fiscal measures, coupled with the 2008-2009 economic and financial crisis led to a fiscal débacle and to an international financial rescue in 2011.We briefly review here those developments. |
| Keywords: | Portugal, public finances, fiscal imbalances |
| JEL: | E62 E65 H6 |
| Date: | 2013–01 |
| URL: | http://d.repec.org/n?u=RePEc:ise:isegwp:wp012013&r=fdg |