This paper extends previous research on the effect of investment on labor productivity at the country level by … accounting for investment in R&D, as well as for investment in fixed and human capital. Privately-funded R&D investment is found … to have a significant positive effect on productivity. Moreover, this effect appears to be quite large. The estimated …

two types of shocks: "small", frequent, and disembodied shocks to productivity and "large" technological innovations … the economy with lags, since firms need to first adopt the new technologies through investment. The process of adoption … into assets in place. This process can help provide a unified, investment-based view of some well documented phenomena such …

We introduce a tractable model of endogenous growth in which the returns to innovation are determined by the technology … adoption decisions of the users of new technologies. Technology adoption involves an implementation investment that determines … the initial productivity of a new technology. After implementation, learning increases the productivity of a technology to …

through learning by doing. These models imply that increased specialization accelerates productivity growth by more fully … realizing dynamic economies of scale. In order to test the hypothesis that specialization increases productivity growth in LDCs … countries, the index of specialization is positively and significantly correlated with manufacturing productivity growth. We …

The decline in the costs of multinational production (MP) has led some countries to specialize in innovation and others … advantage and home market effects (HME) that arise from the interaction between increasing returns to innovation and … further specialize in innovation …

capabilities, natural or manmade. We show that higher initial productivity and investments that yield prosperity exacerbate …

decline in output--explained by a drop in aggregate total factor productivity and investment--and a protracted increase in …

This paper studies the productivity implications of the cyclical reallocation of capital. Frictions in the reallocation … reallocation and thus in productivity. These frictions also impact the capital accumulation decision. The effects are … plant-level productivity. Instead of relying on approximative solution techniques we show analytically that a higher …

productivity and output growth, which is countercyclical. Investment dispersion is more procyclical in the goods-producing sectors …We document a new business cycle fact: the cross-sectional standard deviation of firm-level investment (investment … dispersion) is robustly and significantly procyclical. This makes investment dispersion different from the dispersion of …

therefore average annual observed productivity growth overestimated the corrected rate by 33 percent …