The role of financial institutions and corporate governance in the conduct and performance of industrial firms, especially in the area of technological innovation and international competition has been hotly debated in the recent past. The results presented here are a contribution to the...

A growth model with endogenous innovation and accumulation of high-tech and low- tech human capital is developed. The model accounts for a recently established fact about human capital composition, which stated that \the richest countries are investing proportionally less than middle income...