of these technologies and the skills of LDC workers, and lead to low productivity in the LDCs. Even when all countries … productivity and output per worker. We provide evidence in favour of the cross-industry productivity patterns predicted by our …

We construct a model where the equilibrium organization of firms changes as an economy approaches the world technology …

, the growth of New World, African and Asian trade after 1500 strengthened new segments of the commercial bourgeoisie and …

-style institutions? More generally, in an interdependent world, would we expect all countries to adopt the same institutions? To provide … theoretical answers to this question, we develop a simple model of economic growth in a world in which all countries bene…t and … potentially contribute to advances in the world technology frontier. A greater gap of incomes between successful and unsuccessful …

We analyse an economy where managers engage both in the adoption of technologies from the world frontier and in … investments, but little selection. Closer to the world technology frontier, there is a switch to an innovation-based strategy with …. Societies that cannot switch out of the investment-based strategy, however, fail to converge to the world technology frontier …

explain diverging development paths within the former colonial world. …