This paper develops a growth model with a public sector and a human capital sector to explore the impact of social infrastructure on investment in physical capital, the accumulation of skills, output, and consumption. We show that the implications of the model are consistent with the empirical...

This article examines the sources of economic growth in Australia from 1960 to 2000 by adapting a framework developed in Jones (2002), whereby long-run growth is driven by the global discovery of new ideas, which in turn is tied to world population growth. We find that, contrary to the...

This paper examines the sources of economic growth in Australia from 1960 to 2000 by adapting and modifying a framework developed in Jones (2002), whereby long-run growth is driven by the global discovery of new ideas, which in turn is tied to world population growth. We find that, contrary to...

We devise a simple way of incorporating the financial sector into a growth model that is useful pedagogically. Financial innovation raises the efficiency of financial intermediation, which facilitates capital accumulation. The model may be extended to include real R&D as a symbiotic source of...

In this paper, we construct a macroeconomic growth model where social capital embedded in collaborative networks of firms (such as corporate partnerships and research consortia) increase the rate of technological and business innovations in high-tech industries. Social capital is created via...