Journal
ECONOMICS LETTERS
Volume 106, Issue 1, Pages 15-18Publisher
ELSEVIER SCIENCE SA
DOI: 10.1016/j.econlet.2009.09.012
Keywords
Output volatility; Economic growth; Institutions
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This paper proposes a new instrument to identify the causal effect of output volatility on economic growth. which is based on (exogenous) volatility spillovers from abroad. Cross-section evidence from 128 countries points to a negative effect of volatility oil growth. (C) 2009 Elsevier B.V. All rights reserved.
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