This book elaborates a new dependent and localized growth theory based upon knowledge externalities by making two … important contributions. Firstly, it elaborates the hypothesis that total factor productivity growth stems from pecuniary … knowledge externalities that consist in the access to localized external knowledge, at costs that are below equilibrium levels …

Externalities play a central role in most theories of economic growth. We argue that international externalities, in … have international knowledge externalities. When calibrated, the hybrid model does a surprisingly good job of generating …

multi-country sourcing model in which heterogeneous firms self-select into importing based on their productivity and country …

productivity and country-specific variables. In contrast to canonical export models where firm profits are additively separable …

In this paper, we aim to bring the debate on the global productivity slowdown – which has largely been conducted from a … macroeconomic perspective – to a more micro-level. We show that a particularly striking feature of the productivity slowdown is not … so much a lower productivity growth at the global frontier, but rather rising labour productivity at the global frontier …