Tourism and related recreation activities play a significant role in the generation of income / foreign exchange and provision of employment opportunities. Against this backdrop, this paper aims at ascertaining empirically the impact of tourism on the West African economy from 2000 – 2004. The...

In an influential paper Mankiw, Romer, and Weil (1992) argue that the evidence on the international disparity in levels of per capita income and rates of growth is consistent with a standard Solow model, once it has been augmented to include human capital as an accumulable factor. In a study on...

This paper investigates the dynamic causal relationship between financial development, energy consumption and economic growth in Lebanon over the period 1993M1-2010M12.Our findings confirm the existence of cointegration among the variables. The results indicate that financial development and...

Purpose – In a meta-study, we have bridged the gap between the pros and cons of a questionable finance-growth nexus. Design/methodology/approach – Over 20 fundamental characteristics that have influenced the debate over the last decades have been examined. The empirical evidence is based on...

The issue of foreign aid dependency in African countries remains controversial among policy makers. So far, there is no consensus on aid effectiveness and the resulting policy prescriptions have been conflicting. The Euro zone which provides the bulk of foreign aid to developing countries, is...

In the first meta-study on the finance-growth nexus, we bridge the gap between Schumpeterian authors and sympathizers of Andersen & Tarp (2003). Over 20 fundamental characteristics that have influenced the debate over the last decades are examined. The empirical evidence is based on 196 outcomes...

This paper examines the relationship between foreign aid and growth in real GDP per capita as it emerges from simple augmentations of popular cross-country growth specifications. It is shown that aid in all likelihood increases the growth rate, and this result is not conditional on ‘good’...

The major objective of this paper is to empirically investigate the relationship between domestic credit and economic growth in Nigeria, using annual time series data from 1970 to 2012. In order to do this, the study employs KPSS unit root test, Johansen cointegration test, VAR modeling, impulse...

This paper develops a political economy framework to explain the underlying financial mechanisms through which redistributive policies may affect both the relative level of per capita income growth rates, and the relative stability of growth paths across countries. It proposes that...

The paper uses available data to compare and analyzes the relationships between structural change and economic growth in four OIC member countries (Indonesia, Malaysia, Nigeria and Turkey). The paper uses descriptive statistics to analyze and compare structural transformation in the study...