twenty-period of rapid income growth. It addresses the problem of the endogenous placement of networks by exploiting the fact … moderate positive causal effect on per capita GDP levels across sectors, but no effect on per capita GDP growth. We provide a …

contrast we aim to identify the impact on whole economies (economic growth, and financial sector development and reductions in …

Some channels through which increased inflation tends to reduce economic growth, and vice versa, are studied within a … simple model incorporating money into an optimal growth framework with constant returns to capital. The model includes the … wedge between the returns to real and financial capital. The effect of inflation on growth is estimated using the random …

We develop a model of growth driven by successive improvements in `General Purpose Technologies' (GPTs), such as the … second phase that growth starts in earnest. The historical record of productivity growth associated with electrification, and …

mix of goods that a country produces may have important implications for economic growth. We demonstrate this proposition … its properties, and show that it predicts subsequent economic growth. …

We construct a model that combines elements of endogenous growth with the convergence implications of the neoclassical … growth model. In the long run the world growth rate is driven by discoveries in those economies that lead in their use of … costs to increase reduces followers' growth rates and thereby generates a pattern of conditional convergence. We discuss how …

there is a relation in terms of both industry growth rates and shares of output devoted to R&D. Investment in R&D rather … countries' stages of economic development. For example, bank oriented systems are associated with higher growth of externally …

The endogenous growth literature has explored the transition from a Malthusian world where real wages, living standards … modern industrial growth breaks that link. Recently, economic historians have presented evidence from England showing that … secular rise thereafter – must be explained both by industrial revolutionary growth forces and by global forces that opened up …