Real Interest Rate and Growth: An Empirical Note

D'Adda, Carlo ; Scorcu, Antonello E. (1997) Real Interest Rate and Growth: An Empirical Note. DOI 10.6092/unibo/amsacta/764.
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Abstract

Are restrictive monetary policies harmful to growth? The note aims at providing some empirical evidence to answer the question. A significant negative correlation between growth and real interest emerges over the period 1960-94; in the eighties this relationship strengthens. This result is in agreement with the traditional view of a long run positive link between growth and capital accumulation and a negative long run link between accumulation and the cost of capital. Moreover the outcome is in line with the view that links the slowdown in economic growth of the industrial countries over the last decades appears to the implementation of restrictive monetary policies

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
D'Adda, Carlo
Scorcu, Antonello E.
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DOI
Deposit date
17 Jun 2004
Last modified
17 Feb 2016 14:03
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