One of the most striking regularities of the growth process is the massive reallocation of labour from agriculture into … industry and services. Balanced growth models are commonly used in macroeconomics because they are consistent with the well …-known Kaldor facts about economic growth. Unfortunately, these models are inconsistent with the structural change dynamics that are …

This paper analyses the remarkable growth experience of Indonesia since 1966. Over a thirty-year period, GDP per capita … main external shocks. The paper also argues that rapid growth interacted with weak institutions in a way that contributed …

This paper provides a unified growth theory, i.e. a model that explains the very long-run economic and demographic … Malthusian era. The current framework lends support to existing unified growth theories and is well in tune with historical …

macroeconomic contraction and slow down investment and the speed of transition. Such shocks tend to accelerate transition if they …

countries. The empirical evidence from cross-country growth regressions points to important transitional growth effects related … to trade policy reforms. The paper employs a simple growth model to examine these effects, formally developing the …

Analyzing a variety of cross-national and sub-national data, we argue that high adult mortality reduces economic growth … fertility, and lower investment in physical and human capital. Furthermore, the feedback effect from economic prosperity to … almost all of Africa's growth tragedy. Our analysis also underscores grim forecasts of the long-run economic costs of the …

favorable loan package; that it is associated with over-investment even when investment does not create collateral; and that low … sovereign is not a reliable measure of austerity suffered; and that austerity may actually be associated with higher growth. Our …

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 …

growth accounts including intangible capital for 14 countries. We find (a) intangible investment in the EU is less than the … 2007 capital deepening accounted for almost 50% of growth in the EU and 65% in the US, with intangible investment …Conventional measures of business investment consist primarily of tangible assets such as plant and equipment, vehicles …