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Essays On Economic Growth, Minhyeon Jeong
Essays On Economic Growth, Minhyeon Jeong
Arts & Sciences Electronic Theses and Dissertations
My dissertation investigates how economic growth is determined in the long run. To do this, I focus mainly on culture and institutions as fundamental growth factors and develop a general theoretical framework in which culture, institutions and growth are all endogenously determined. Using the framework, I highlight the crucial role of interaction between culture and institutions in the long-term growth.
Chapter 1. Endogenous Financial Friction and Growth
The first chapter investigates the role financial frictions play in economic growth. Most existing studies consider an exogenous form of borrowing constraint, the tightness of which is arbitrarily fixed at a certain value …