Myopia is important in environmental and resource management. We present a parsimonious extension to a standard dynamic optimization in a continuous time and continuous state setting, which enables a rich description of myopic behavior. In our model, the process of planning future controls and...

In recent decades, foreign direct investment (FDI) played an important role in achieving economic growth and development especially for developing countries. FDI bring capital and introduced new technology. Moreover, the new technology can also spill over to the local firms in the host country....

I broadly summarize the theoretical and recent empirical literatures on human development. Using Gray and Purser’s 1970-2010 database of human development index (HDI) components (income, life expectancy, literacy, gross enrolment ratios) for 135 countries, together with indicators of the...

In most resource-driven developing economies, a mineral-based formal sector and an informal resource sector (such as charcoal production) constitute the main economic activities, from which local dwellers derive their livelihoods. The paper examines the coexistence of formal and informal...

’Conflict diamonds’ refers to the fatal role that diamonds are believed to have played in several African conflicts. The article analyzes the impact of diamond abundance on economic growth in light of the broader, previously discovered empirical finding of a ’curse of natural resources’....

We develop two models of economic growth with exhaustible natural resources, exogenous technical progress and consumers heterogeneous in time preferences. The first model assumes private ownership of natural resources. In the second model, natural resources are public property and the resource...

A Schumpeterian growth model is constructed where R&D firms innovate to produce better versions of the products or imitate to copy existing innovations. Because firms cannot use their innovations or imitations as collateral, they finance their investment by issuing shares. Households save by...

The paper studies the contribution of human capital on economic growth through its impact on the rate of innovation by formulating an endogenous growth model that combines elements from Romer (1990), Aghion and Howitt (1992), and van Zon and Yetkiner (2003). Using a relatively broad concept of...

This paper analyses the effects of globalization, stricter intellectual property rights protection and different labor market policies in a dynamic North-South general equilibrium model with non-scale growth. To this aim, we generalize the Schumpeterian product-lifecycle model of Dinopoulos and...

This paper analyzes Walrasian general equilibrium systems and calculates the static and dynamic solutions for competitive market equilibria. The Walrasian framework encompasses the basic multi-sector growth (MSG) models with neoclassical production technologies in N sectors (industries). The...