CEEAplA Working Paper Series 2007
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Browsing CEEAplA Working Paper Series 2007 by Author "Andini, Corrado"
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- Financial development and long-run growth : is the cross-sectional evidence robust?Publication . Andini, Corrado; Andini, MonicaIn a seminal paper, Levine et al. (2000) provide cross-sectional evidence on the causal positive impact of financial development on the mean of the conditional long-run growth distribution, in a sample of 71 countries. Using the same data-set, we argue that the impact of financial development of the median of the conditional growth distribution is doubtful. In addition, we find that the mean-based results due to Levine et al. (2000) are not robust to the presence of three outliers: Korea (Republic of), Malta and Taiwan.
- Teaching Keynes’s principle of effective demand within the real wage vs. employment spacePublication . Andini, CorradoThis paper reviews several models for teaching Keynes’s principle of effective demand within the real wage vs. employment space and explores a simple extension of a model originally proposed by Lavoie (2003).