The aim of this paper is to assess whether the impacts of real exchange rate undervaluation and domestic technological capabilities on growth are stable across development levels. On the one hand, a real exchange undervaluation measure is constructed based on the purchasing-power-parity theory...

The finding that industrial sectors differ in their dependence on external finance for sector-specific technological reasons and, thus, rely to a different degree on financial development has become a major concept in studies conducted on both growth and trade. Although natural resources might...

Artificial Intelligence (AI) is often regarded as the next general-purpose technology with a rapid, penetrating, and far-reaching use over a broad number of industrial sectors. A main feature of new general-purpose technology is to enable new ways of production that may increase productivity. So...

This paper shows that 19th-century industrialization is an important determinant of the significant changes in Germany’s economic geography observed in recent decades. Using novel data on economic activity in 163 labor market regions in West Germany, we establish that nearly half of them...

Although information and communication technologies (ICT) consume energy themselves, they are considered to have the potential to reduce overall energy intensity within economic sectors. While previous empirical evidence is based on aggregated data, this is the first large-scale empirical study...

Artificial Intelligence (AI) represents a set of techniques that enable new ways of innovation and allows firms to offer new features of products and services, to improve production, marketing and administration processes, and to introduce new business models. This paper analyses the extent to...

We analyze the long-run growth effects of automation in the canonical overlapping generations framework. While automation implies constant returns to capital within this model class (even in the absence of technological progress), we show that it does not have the potential to lead to positive...

This paper investigates the sources of structural change in the Brazilian economy in the 2000s. On that purpose, it uses the input-output structural decomposition analysis and introduces a method to correct the influence of prices on the time behavior of the technical coefficients, making them...

This paper aims to contribute to the understanding of the main specificities of latecomers' processes of technological development. Building on the basis of this understanding, it searches for the reasons why the conventional measures of Science and Technology (S&T) policies, usually inspired by...