This study examines the mediating role of institutional quality in the relationship between financial development and manufacturing output in Nigeria during the period from 1984 to 2016. To achieve this objective, autoregressive distributed lag method (ARDL) is used to determine the short-run...

A growing literature relies on natural experiments to establish causal effects in macroeconomics. In diverse applications, natural experiments have been used to verify underlying assumptions of conventional models, quantify specific model parameters, and identify mechanisms that have major...

This paper studies the impact of inequality in capital and land distribution on the pace of industrialization, thereby explaining the role of wealth inequality in the Great Divergence phenomenon. We build a two-sector unified growth model, in which the outcome of public policy contest between...

This study relates foreign direct investment (FDI) to economic growth, institutional quality and manufacturing value added, using panel data techniques that allow for parameter heterogeneity and non-stationarity. The results confirm that economic growth, institutional quality, and natural...

Economic development, which refers to the process of progressive transformation of an economy, is a multifaceted term without a universal definition. This article presents the constitutive elements of economic development, such as growth, distribution, and innovation. Economic development has...

A growing literature relies on natural experiments to establish causal effects in macroeconomics. In diverse applications, natural experiments have been used to verify underlying assumptions of conventional models, quantify specific model parameters, and identify mechanisms that have major...

Regional economies seek to promote growth through industrialisation and literature suggests that developing the financial system, integrating the financial system within a sound institutional framework can promote industrial output. This study fills the gap by examining the impact of financial...

One of the main objectives of the new European research and innovation policy agenda is to favour the positive demographics (creation and growth) of EU companies operating in new/knowledge-intensive industries, especially Small and Medium Enterprises (SMEs). These companies play an important...

The primary goal of this study is to gauge the incentive properties of the various sources of microenterprise financing. Specifically, the study seeks to investigate the effects of nature and a range of institutional sources of finance on micro and small enterprises' (MSEs) productivity edge and...