Economic growth and unemployment exhibit an ambiguous relationship – according to empirical studies. This ambiguity can be investigated by observing the role of the underground economy in shaping the productivity of firms. Indeed, unemployment may be absorbed by underground firms, which adopt...

Since it is believed that having access to a broader base of capital is a key requirement for economic growth, then financial integration is necessary because it expedites flows of capital from developed economies with rich capital to developing economies like Nigeria with limited capital. The...

With the death of Prof. Vittorio Santaniello in the summer of 2007, the International Consortium for Agricultural Biotechnology Research (ICABR) lost one of its most enthusiastic founders and most important contributors. This special issue celebrates Prof. Santaniello’s commitment to the...

A pervasive trend that characterised the past two decades of European economic growth is that the share in the economy of commercial services, and particularly business services, grows monotonically, and this mainly to the expense of the manufacturing sector. The structural shift reflects a...

Technischer Fortschritt ist eine der wichtigsten Triebkräfte der wirtschaftlichen Entwicklung von Unternehmen, Wirtschaftszweigen und Volkswirtschaften. Die Auseinandersetzung mit der Natur, Determinanten und Konsequenzen dieses Phänomens steht seit einiger Zeit im Zentrum der theoretischen...

This study investigates the impact of telecommunications penetration on the aggregate production efficiency in a large cross-section of fifty countries. We show that higher levels of ICT capital stock penetration increase technical efficiency levels in the aggregate production function. However,...

Abstract Development of knowledge in Portugal occurred late and slowly, mainly as a result of political and institutional factors which persisted with democracy. Amongst knowledge key areas, education, research and development (R&D) and innovation advanced with frequent setbacks. This irregular...

This paper studies the interlinks between innovation inputs and outputs and between innovation outputs and economic development. Using a panel data-set from 31 regions of China, we show that the difference in regional innovation output can be significantly explained by R&D manpower and...

This study analyzes the effects of inflation on the long-run nexus between unemployment and economic growth. We introduce money demand via a cash-in-advance (CIA) constraint on R&D investment into a scale-invariant Schumpeterian growth model with matching frictions in the labor market. Given the...