Recent pre-crisis growth accounting exercises attribute strong productivity growth toincreased investments in information and communication technologies (ICT), especiallyduring the mid-1990s. EU-wide stylized facts about a growing US-EU productivity gapare confirmed for Germany, particularly...

The investigation of the determinants of economic growth plays an important role forour understanding of the sources of cross-country income differences. This paper analyzesthe effects of institutions and innovations on country productivity growth. The empiricalevidence shows that institutions...

Over the last two decades EU countries experienced diverging productivity growthdevelopments. By examining the sources of EU countries growth drivers on the sectorallevel, the paper takes a new look on the influence of innovations. While standard neoclassicalNon-ICT capital deepening turns out...

US labor productivity in ICT-skill intensive industries experienced tremendousincreases in post-1995 trend growth compared to Germany, while other (non-ICT-skillintensive) industries showed similar growth trends in both countries. Examining thesource of industry productivity growth in German...

We analyze the empirical relationship between growth, country size and tourism specialization by using a dataset covering the period 1980-2003. We find that tourism countries grow significantly faster than all the other sub-groups considered in our analysis. Tourism appears to be an independent...

There is surprisingly little macroeconomic empirical research which would support a presumed link between education and development. I identify three major reasons why it remains difficult to estimate the economic relevance of education as a determinant of growth and development. First, most...

We develop a perpetual youth model to investigate how longevity affects economic growth and welfare. Life expectancy is determined by individuals' investments in healthcare. We find that improvements in the healthcare technology always increase the steady state growth rate. Although the effect...

The work of Levine and Renelt (1992) and Sala-i-Martin (1997a, b) which attempted to test the robustness of various determinants of growth rates of per capita GDP among countries using two variants of Edward Leamerâ??s extreme-bounds analysis is reexamined. In a realistic Monte Carlo experiment...

Unified Growth Theory uncovers the forces that contributed to the existence of multiple growth regimes and the emergence of convergence clubs. It suggests that differential timing of take-offs from stagnation to growth segmented economies into three fundamental regimes: slow growing economies in...