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or by combining two of the macroeconomics indicators in the Latin America and the Caribbean (LAC) region, none found the trivariate nexus applying the Granger-causality approach. The link between financial development, economic growth and innovation

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References Altemani , H. ( 2010 ): Brazil and China: From South-South Cooperation to Competition? In: Fernández Jilberto, A. – Hogenboom , B. (ed.): Latin America Facing China

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) and the establishment of modern nation states (Western Europe, Latin America and the United States) to present. The analysis of the long-term relationship between political environment and economic performance is the main contribution of the article

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macroeconomic variables in 27 CEE and Latin American countries. Muinelo-Gallo – Roca-Sagalés (2013) examined the relationship between economic growth and income inequality on the axis of fiscal policy, indicating that gross income inequality determines

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Acta Oeconomica
Authors:
Altan Aldan
and
Hatice Burcu Gürcihan Yüncüler

On the other hand, Maloney – Mendez (2004) showed that the minimum wage in the Latin American countries is binding and argued that the minimum wage has stronger effects compared to the earlier evidence on the US by Neumark et al. (2004

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North Africa, followed by Africa, South Asia, Latin America and the Caribbean, have been the least frequently studied regions of the world regarding entrepreneurship. Then again, Europe and Central Asia have received the most attention (with the most

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Acta Oeconomica
Authors:
Ana Krstić
,
Milena Jaksić
,
Predrag Mimović
, and
Danijela Tadić

policy openness on overall efficiency. Escaith (2006) analysed the dynamics of economic growth in Latin America. Several techniques, including DEA, were used for extrapolating growth trends and applied to the regional situation

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indicator in their cross-section analyses of the developing countries, Africa and Latin America. Aghion et al. (2010) investigated whether health can explain the differences in the growth of countries in the framework of internal growth theories for the

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, H. – Tomio , B. ( 2009 ): Strategies and Determinants of Foreign Direct Investment (FDI) from Developing Countries: Case Study of Latin America

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. 2 What actually is the middle income trap? Literature review and methodological remarks The main body of the literature covering studies on the MIT deals with the structural barriers faced by the Latin American and South

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