Economics literature suggests that, even in the absence of fiscal costs, a persistently high and increasing public debt ratio may have a detrimental effect on long run economic growth in an economy that is not over-accumulating capital like Finland today. High public debt creates expectations...

A large body of qualitative studies on the positive role played by big businesses in promoting economic growth is widely available. However, any rigorous attempt to measure this impact has yet to be made. In this paper, we attempt to fill this gap by utilizing new and internationally comparable...

This paper presents an endogenous growth model where, in line with the recent empirical evidence, the telecommunications industry (telecom) is an engine of growth. In such a framework, this paper analyzes the channels through which telecom contributes to economic growth and focuses on market...

This paper investigates the influence of import tariffs, external debt and speed of foreign reserves accumulation on economic growth. It follows from existing literature that these policies can have different influence on growth, depending on the relative stage of economic development. The...