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This paper describes the socio‐economic dynamics that, in the Colombian case, underlie the relationship between mining and the territory where it takes place. The description includes the key features of public policy regarding mining, under which mineral resource extraction may have produced unintended effects that raise doubts regarding mining's contribution to Colombian economic development. Under a qualitative approach, I carried out a documentary analysis from which I identified several aspects of the economic and mining policy. The analysis confirms several of the explanations for the so‐called resource curse hypothesis, the connection between these aspects, and of them with specific policy decisions. [ABSTRACT FROM AUTHOR]

When reforms of different policy areas are said to be complementary, the presence of one reformed area bolsters the effectiveness of reform of the other. We use the five areas of the Economic Freedom of the World (EFW) index over 2000–2017 to test for the impact of reform complementarities on real per capita income growth in up to 131 countries. Using a novel index for complementarity (Braga De Macedo & Oliveira‐Martins, 2008, Econ. Transit.), we find robust evidence that pursuing broader reform packages is associated with an increase in annual growth by about 1.2%. Further analysis shows that the effect of complementarities operates largely through its positive impact on domestic investment. [ABSTRACT FROM AUTHOR]

Community wealth building provides an important counterpoint to the orthodoxy of place based economic policy in the UK. It puts forward a framework for economic change which shows that local areas can intervene effectively to build wealth from within so that they are less reliant upon extractive forms of economic development. Instead, wealth building within a community is about recognising the wealth that already exists in an area and intervening to encourage that wealth to flow more readily, particularly from capital to labour. This article explores the background to the development of community wealth building in the UK and its connection with the debate on the everyday economy. It finds that there is a close alignment between the objectives of building wealth and the everyday economy, particularly in areas which not only feel 'left behind', but arguably, who have been kept behind by a policy regime which has actively dismantled their sense of place, agency and identity, and in turn, devalued the role and purpose of the businesses and economy that already exists, in favour of elusive 'growth' and/or 'pioneer' sectors. [ABSTRACT FROM AUTHOR]

This study reassesses the relationship between financial development and economic growth using the datasets of BRICS countries. The MG‐ARDL and CD‐ARDL (MG) models are considered to account for both heterogeneity and cross‐sectional dependency. The overall results reveal a negative and insignificant effect of financial development on GDP from a MG‐ARDL linear model and a negative and significant relationship between financial development and economic growth from the linear CD‐ARDL (MG). However, when the square term of credit to the private sector is introduced, it is found that a positive and highly significant relationship exists between financial development and economic growth up to a point beyond which it turns negative and significant for both the MG‐ARDL and CD‐ARDL (MG) models. Based on the results, it is concluded that the excessive supply of private credit is harmful to the economy, thereby slowing its growth. Policy suggestions have also been discussed. [ABSTRACT FROM AUTHOR]

This study aims to reinvestigate the long run relationship between credit market development and economic growth in Nigeria covering the years between 1981 and 2016 by applying recently developed econometric techniques. In addition to measures of credit market development indicators of domestic credit to the private sector and broad money, trade openness, foreign direct investment and urbanization are also included in estimations to overcome the omitted variable problem. The measure for economic growth used is real gross domestic product. To the best of our knowledge, no study has been conducted before, examining these relationships with all these listed indicators. Therefore, this study proposes to close this gap in the literature. To capture the long run effects, we used ARDL, Fully Modified Ordinary Least Squares, and Dynamic Ordinary Least Squares estimator approaches. Findings uncover that (a) a long run equilibrium relationship exists between credit market development and economic growth, (b) economic policy makers are required to seek after developing the credit market with the main intention of guaranteeing that banks and other money related establishments are enabled and empowered to give the essential funds to the beneficial part of the economy which are urban and private sectors. [ABSTRACT FROM AUTHOR]

This article highlights the role of organised rural communities in negotiating local development within processes of neoliberalisation. Based on the empirical evidence of a cooperative organisation from rural Chile, it is argued that local actors claim ownership of regional economic processes and local development agendas, while negotiating between mainstream economic growth worldviews and alternative solutions to market distribution failures. This negotiation results in local economies that manoeuvre between adapting and rejecting neoliberal economic policies offering a locally embedded solution to inequality and segregation, in this case to the benefit of a historically marginalised rural population. [ABSTRACT FROM AUTHOR]

This survey provides a selective review of the literature on patent policy, innovation and economic growth. The patent system is a useful policy tool for stimulating innovation given its importance on technological progress and economic growth. However, the patent system is a multidimensional system, which features multiple patent policy instruments. In this survey, we review some of the commonly discussed patent policy instruments, such as patent length, patent breadth and blocking patents, and also use a canonical Schumpeterian growth model to demonstrate their different effects on innovation and the macroeconomy. [ABSTRACT FROM AUTHOR]

In spite of the fact that the connection between exports of goods and services and economic growth has for quite some time been talked about, the examination of the relationship in light of recent global events such as economic policy uncertainty and geopolitical risks is yet to be given the required attention. Various empirical researches have demonstrated that the export‐led growth hypothesis (ELGH) holds for singular nations in terms of overall economic development. However, this study re‐examines the ELGH with a special focus on the absolute and mediating impact of economic policy uncertainties and geopolitical risks. With data spanning the period 1980 to 2018. Empirical results from the Autoregressive distributed lag model and the error correction models suggest that for Malaysia, Economic Policy Uncertainty (EPU) exerts a negative impact on growth evens as its moderating impact on exports leads to negative economic growth. On the other hand, the impact of Geopolitical risk on growth is both negative and positive but insignificant in the short‐run and long‐run respectively. The study suggests the government of Malaysia works to ensure macroeconomic and political stability to achieve export‐driven growth in the country. [ABSTRACT FROM AUTHOR]

Over the past half century, the Asia-Pacific region, especially countries in East and Southeast Asia, is the exemplar of developing countries participating in the global economy. To ensure that FDI inflows exert the reinforcing effects on GDP and exports through active acquisition of technology and open trade is viewed as the policy priority among these countries. Recent developments in the trade and development literature attempt to seek understanding of the development effects of trade by examining firm behaviour. [Extracted from the article]