The paper analyses the current credit crisis and finds that NCM or Neo-Wicksellian models are inadequate to detect the roots of the crisis, let alone to deal from a policy perspective with the problems and the cures. It attempts to rectify some of these drawbacks of the NCM models and in the way...

The goal of this paper is to study the impact of capital accumulation (convergence) and technological transfers (catch-up) on growth. By introducing transfers of technology in the Solow growth model shows two important results: (i) in the long-run, all countries converge and catch-up in rate...