Financial Sector Development and Integration in the Southern and Eastern Mediterranean: Towards a long-term sustainable transition. MEDPRO Policy Paper No. 7, April 2013

This MEDPRO Policy Paper examines the trends and prospects in financial-sector development and integration in the southern and eastern Mediterranean countries and concludes with an agenda for a long-term sustainable transition where finance turns to be a positive stimulus to long-term growth.

Institutions and Growth in Europe. CEPS Working Document No. 421, April 2016

This paper provides empirical evidence in support of the view that the quality of institutions is an important determinant of long-term growth of European countries. When also taking into account the initial level of GDP per capita and government debt, cross-country institutional differences can explain to a great extent the relative long-term GDP performance of European countries. It also shows that an initial government debt level above a threshold (e.g. 60-70%) coupled with institutional quality below the EU average tends to be associated with particularly poor long-term real growth performance. Interestingly, the detrimental effect of high debt levels on long-term growth seems cushioned by the presence of very sound institutions. This might be because good institutions help to alleviate the debt problem in various ways, e.g. by ensuring sufficient fiscal consolidation in the longer-run, allowing for better use of government expenditures and promoting sustainable growth, social fairness and more efficient tax administration. The quality of national institutions seems to enhance the long-term GDP performance across a large sample of countries, also including OECD countries outside Europe. The paper offers some evidence that, in the presence of good institutions, conditions for catching-up seem generally good also for euro-area and fixed exchange rate countries. Looking at sub-groupings, it seems that sound institutions may be particularly important for long-term growth in the countries where the exchange rate tool is no longer available (and where also sovereign debt is high), and less so in the countries with flexible exchange rate regimes. However, this result is preliminary and requires further research. The empirical findings on the importance of institutions are robust to various measures of output growth, different measures of institutional indicators, different sample sizes, different country groupings and to the inclusion of additional control variables. Overall, the results tend to support the call for structural reforms in general and reforms enhancing the efficiency of public administration and regulation, the rule of law and the fight against rent-seeking and corruption in particular.

Macroeconomics, economic crisis and electoral outcomes: A national European pool

An abundance of comparative survey research argues the presence of economic voting as an individual force in European elections, thereby refuting a possible ecological fallacy. But the hypothesis of economic voting at the aggregate level, with macroeconomics influencing overall electoral outcomes, seems less sure. Indeed, there might be a micrological fallacy at work, with the supposed individual economic vote effect not adding up to a national electoral effect after all. Certainly that would account for the spotty evidence linking macroeconomics and national election outcomes. We examine the possibility of a micrological fallacy through rigorous analysis of a large time-series cross-sectional dataset of European nations. From these results, it becomes clear that the macroeconomy strongly moves national election outcomes, with hard times punishing governing parties, and good times rewarding them. Further, this economy-election connection appears asymmetric, altering under economic crisis. Indeed, we show that economic crisis, defined as negative growth, has much greater electoral effects than positive economic growth. Hard times clearly make governments more accountable to their electorates.

Development and humanitarian assistance programs, FY 1973 presentation to the Congress, program and project data: Latin America.

Cover title.

United States-Latin American relations: problems of Latin American economic development. A study...No. 6. Problems of Latin American economic development. Prepared at the request of the Subcommittee on American Republics affairs

Mode of access: Internet.

Development and politically generated migration /

"July 1989."

The economic development of the Argentine Republic in the last fifty years.

Mode of access: Internet.

U.S. policy for the East Asia regional economic development program--what should it be? Department of State, Agency for International Development : report to the Congress /

Publication date stamped on cover.

The development and structure of the U.S. electric lamp industry : staff report of the Federal Trade Commission /

Cover title: Staff report on the development and structure of the U.S. electric lamp industry.

Economic development in Latin America; sociological considerations.

"E/CN.12/646."

The economic development of post-war France;

Bibliography: p. 599-610.

New outline, economic development of the United States,

Based on An outline of the economic development of the United States, by Dr. Edward M. Earle. cf. Introductory note.

Supplemental report for the sheepshead minnow and inland silverside larval survival and growth toxicity tests : training videotape /

Mode of access: Internet.

Final report to the Office of Technical Assistance, Economic Development Administration, United States Department of Commerce ... /

Cover title: A final report on the activities of the San Francisco Local Development Corporation, March 1970 to March 1972.

An exploratory analysis of the development and present status of voluntary and cooperative groups in food marketing.

Cover title.