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 …

and investment, we are able to capture many of the key empirical properties of Germany and Japan's postwar transitions …, including persistently high but declining rates of labor and total-factor productivity growth, a U-shaped response of the … capital-output ratio, rising rates of investment and employment, and moderate rates of return to capital …

the firm's investment decision to identify the embodied and disembodied components of productivity growth. With a Cobb …This paper presents a new approach to assess the role of price mismeasurement in the productivity slowdown. I invert … that in the Post-War period, disembodied productivity grew faster in the hard-to-measure than in the non-manufacturing easy …

In this paper I evaluate the contribution of R&D investments to productivity growth. The basis for the analysis are the … externalities. The resulting contribution of R&D to productivity growth in the US is smaller than three to five tenths of one … innovation technology takes the form assumed in the literature, the actual US R&D intensity may be the socially optimal …

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