Economists differ in their explanation of changes in the rate of U.S.economic growth in the latter half of the 20th century-particularly for the "new economy" period from 1982-2000. Adherents of the Neoclassical Growth Model have emphasized that with the increase in the capital/labor ratio the...

This paper shows that whether natural resources are good or bad for a country's development depends crucially on the interaction between institutional setting and the type of resources that the country possesses. Some natural resources are for economical and technical reasons more likely to...