Only a few years ago the conventional wisdom predicted that globalization would render the demise of the region as a meaningful unit of economic analysis. Yet the obsession of policy-makers around the globe to 'create the next Silicon Valley' reveals the increased importance of geographic...

Over recent years `opportunity cost' (OC) models of growth have been constructed which suggest that firms take advantage of the possibility of intertemporal subsitution in order to engage in productivity-improving activities during recessions. This paper tests whether this argument is correct,...

Convergence in per capita income across countries turns on whether technological knowledge spillovers are global or local in a large class of models. This Paper estimates the amount of spillovers from R&D expenditures in major industrialized countries on a geographic basis. A new data set is...

Three important aspects of the Canadian pharmaceutical industry-viz. compulsory licence, price control on patented drugs and the R&D scenario. Unlike other developed countries, which have adopted the route of providing higher Intellectual Property Rights (IPR) protection to promote the growth of...

This paper contains a brief survey of recent empirical work on the performance of large companies. It tries to pull together the literature in the form of six stylized facts, illustrating them with data drawn from a single sample. The paper concludes by highlighting the issues which are thrown...