collapsing investment and shrinking employment. Sharp declines in productivity, reflecting in part transition-related factors …

competition in South Africa's product markets. Additionally, the results suggest that the markups tend to move in a … monetary policy to the fluctuations in economic activity. …

This paper develops a multi-industry growth model in which firms require external funds to conduct productivity … development and on industry characteristics. Over time, a financially constrained economy may converge to the growth path of a … frictionless economy, so long as an industry with the fastest expanding technological frontier does not permanently fall behind due …

The knowledge production function is central to R&D-based growth models. This paper empirically investigates the … knowledge production function and intertemporal spillover effects using cointegration techniques. Time-series evidence suggests … there are two long-run cointegrating relationships. The first captures a long-run knowledge production function; the second …

This paper presents empirical evidence on the impact of competition on firm productivity. Using firm-level observations … competition and our measures of productivity. We also find that countries that implemented product-market reforms had a more … pronounced increase in competition, and correspondingly, in productivity: the contribution to productivity growth due to …

is a requirement of significant improvements in labor productivity and competitiveness, as well as reforms to further …