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This paper reviews the theoretical and empirical literature on links between domestic financial development and economic growth. It starts with the pioneers in this field and then classifies two main schools favouring liberal financial regimes. First McKinnon and Shaw advocated financial liberalization in a period of widespread government intervention in credit markets. After that a period of criticism of free market regimes followed, partly based on unsuccessful policies. The literature on financial development and endogenous growth pushed the discussion back into the direction initially advocated by McKinnon and Shaw. We review a huge body of empirical literature, which generally finds positive associations between domestic financial development and economic growth. The evidence suggests, however, enormous heterogeneity across countries, regions, financial factors, and directions of causality.

This paper reviews the theoretical and empirical literature on links between domestic financial development and economic growth. It starts with the pioneers in this field and then classifies two main schools favouring liberal financial regimes. First McKinnon and Shaw advocated financial liberalization in a period of widespread government intervention in credit markets. After that a period of criticism of free market regimes followed, partly based on unsuccessful policies. The literature on financial development and endogenous growth pushed the discussion back into the direction initially advocated by McKinnon and Shaw. We review a huge body of empirical literature, which generally finds positive associations between domestic financial development and economic growth. The evidence suggests, however, enormous heterogeneity across countries, regions, financial factors, and directions of causality.

1 Introduction -- 2 Demand and Regional Growth -- 2.1 Introduction -- 2.2 The Export Base Model -- 2.3 A Keynesian-Type Growth Model -- 2.4 The Multiplier-Accelerator Model -- 2.5 The Harrod-Domar Model -- 2.6 Conclusions -- 3 Supply, Factor Mobility, and Regional Growth -- 3.1 Introduction -- 3.2 The Neoclassical Model of Regional Growth -- 3.3 The Data and Empirical Results -- 3.4 Dynamic Simulations of the Model -- 3.5 Conclusions -- 4 The Interaction of Supply and Demand -- 4.1 Introduction -- 4.2 The Model -- 4.3 The Data and Empirical Results -- 4.4 An Alternative Formulation -- 4.5 Conclusions -- 5 Interregional Interactions -- 5.1 Introduction -- 5.2 Interregional Constraints -- 5.3 Patterns of Interregional Commodity Trade Flows -- 5.4 Interregional Trade and Regional Growth -- 5.5 Conclusions -- 6 Regional Economic Policy -- 6.1 Introduction -- 6.2 Sensitivity to Assumptions and Initial Conditions -- 6.3 Regional Policy Simulations -- 6.4 Conclusions -- References.

The effectiveness of fiscal policy on emerging country economic growth is a hot topic of discussion. While adjusting the levels of public spending and determining tax rates, policymakers in developing countries strive to address socioeconomic concerns such as poverty, unemployment, hunger, bad investment, and illiteracy. The impact of fiscal policy on Ghana's economic growth is examined in this study. The study looked into and reviewed a variety of journals in order to provide this report on the roles, effects, and impacts of fiscal policy on Ghana's economic growth. The discrepancies in conclusions of the effect of fiscal policy measures on economic growth can be seen in the research mentioned above. Some studies have found that it has a favorable effect, while others have found that it has a detrimental effect. A few researchers have found that it has no effect. They also illustrate that there are disparities in public spending and tax revenues between countries, with one having a good influence and the other having a negative impact, and one or both having an impact and being effective. In terms of monetary and fiscal policies, fiscal policy boosted economic growth in certain countries while having the reverse effect in others. When government expenditure was channeled to productive and investment sectors with sustainable productivity, fiscal policy achieved its targeted economic growth objectives. According to the findings, despite its important role in welfare advancements, government consumption spending has been detrimental to economic growth; policymakers must analyze its composition in order for it to improve growth. Government consumption expenditures should be reduced through targeted measures. Expenditures that are likely to stifle private investment should be scrutinized as well.

The paper presents a comprehensive analysis of scholarly literature within the domain of inclusive growth. It meticulously categorises diverse approaches aimed at delineating the essence of inclusive growth, encompassing the articulation of principal objectives, and identifying challenges that inclusive growth endeavours to address. Furthermore, to enhance the organization of research and attain a nuanced understanding of prevalent, well-explored, and under-researched themes, the study advocates for a supplementary bibliometric analysis of publications on inclusive growth. Utilizing data extracted from the Scopus and Web of Science databases from 1995 to 2022, this research discerns notable scholarly interest in inclusive growth, particularly among academic communities in the United States, India, and Great Britain. The findings delineate several focal points within the realm of inclusive growth, including the determinants of developmental trajectories, the constituents and metrics of economic expansion, as well as the evaluation and prognostication of its outcomes. Moreover, the study underscores the significance, characteristics, and potential avenues of inclusive growth, alongside the imperative of financial inclusivity and its role in fostering equitable economic development. Additionally, it identifies key components essential for achieving sustainable development objectives, elucidating how inclusive growth initiatives are intricately linked to the mitigation of pervasive societal challenges such as poverty, inequality, and unemployment. By identifying prominent clusters of scholarly discourse, this research facilitates a nuanced comprehension of the most salient themes and issues animating the discourse on inclusive growth, thus providing a valuable foundation for future scholars and policymakers in this crucial area.

AbstractWith the rapid increase of China's outward foreign direct investments (OFDIs) since the early‐2000s, a growing body of literature has developed that investigates investment processes and their underlying motivations and tendencies. Three important findings emerge from this literature. First, it has been noted that the generation of market and resource access have been key drivers of investment activity. Second, China's OFDIs have accordingly focused on mature manufacturing and natural resource sectors. Third, a large proportion of OFDIs is assumed to have been directed to neighboring countries in East Asia or other developing economies, for instance in Africa. However, a literature review reveals limitations in prior studies with respect to measurement biases, database incompatibilities, the neglect of a knowledge perspective, and a lack of sectoral differentiation. Descriptive analysis based on a comprehensive firm‐level data set of greenfield investments shows that previous findings are only partial. According to fDi Markets data from 2003 to 2016, OFDIs from China are more diversified and widespread than assumed. Many recent investments have a distinct knowledge motivation, are focused on high‐tech and business service sectors and non‐manufacturing functions, and are directed toward developed economies.