especially important in countries with high rates of investment (and thus high rates of labor transfer) and/or at low levels of …

increases in employment and output rather than only in wages; and (2) even though the domestic saving rate is high, foreign … direct investment is also substantial. We explain these features in terms of a conventional neoclassical growth model-with no … wages are sustained by a large reserve army of rural labor which drives internal migration, and (2) domestic capital is …

This paper examines the effect of skill-biased technological change on the structure of wages, the composition of …

vulnerable to financial frictions. By sheltering intangible investment from financial shocks, counter-cyclical macroeconomic … policy through the intangible investment channel, and its complementarity with pro-competition product market deregulation …

lead to investment and growth, they reduce the government''s ability to increase supporters'' consumption. The model … predicts that resource abundance is conductive to poor policies and, consequently, to low investment. The implications of the …

enterprises, on the allocation of talent, and on investment. It also discusses the impact of corruption on some aspects of public …

growth and investment, and new cross-country evidence on the link between corruption and the composition of government …

&D), which are endogenized through financial institutions. The theory and its results shed lights on the debate of convergence …