Based on the partial distribution1 and the developower (development power) 2, this paper puts forward the golden growth law in economic process for the first time. The law describes the optimal relation between the economic investment and the economic growth, and could be taken as a basis to...

Recent literature contains many stories of how foreign aid affects economic growth. All the stories hinge on the statistical significance in cross-country regressions of a quadratic term involving aid. Among the stories are that aid raises growth (on average) 1) in countries where economic...

The econometric analysis of economic growth has always been subject to major flaws and shortcomings. Data scarcity and reliability, parameter heterogeneity, omitted variables bias, endogeneity problems, ... have seriously tainted estimation results. In this paper we propose an alternative...

In this paper an effort has been made to unveil some hidden and implicit assumptions that has been used in different models dealing with analysis and measurement of contribution of human capital to economic growth. In order to do it we started from the general production function with...

This paper focuses on the question of income convergence among countries. While the methodology used to determine convergence differs from the common cross-sectional approach, it corroborates Baumol's finding of a convergence club among the world's wealthiest countries. It also shows that there...

This paper examines the relationship between trade and income convergence by focusing on groups of countries comprising major trade partners. The majority of these groups exhibited significant convergence. Furthermore, a comparison of the trade-based groups with different, randomly selected,...

Many countries, both industrialized and developing, appear to have experienced a slowdown in economic growth. We examine a large sample of countries and find that a majority exhibit a significant structural break in their post-war growth rates. In nearly all of these cases the break was followed...

This paper proposes a new method to measure ethnolinguistic diversity and offers new results linking such diversity with a range of political economy outcomes -- civil conflict, redistribution, economic growth and the provision of public goods. We use linguistic trees, describing the...

Following up on a previous paper by the same author on the contribution of ICT capital to growth and labor productivity in Poland 1995-2000, this paper extends the study to eight transition economies: Bulgaria, Czech Republic, Hungary, Poland, Russia, Slovakia and Slovenia. The paper shows that...

There is large evidence on a positive impact of information and communication technologies (ICT) on economic growth and productivity in a number of developed countries in the 1990’s. There are however no studies, which would estimate the contribution of ICT to growth and productivity in...