affects human capital, and infrastructure expenditures that affect productivity. The paper finds that social expenditures lead … expenditure composition; and improving the productivity of fiscal expenditure is both growth and welfare enhancing …

as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital …

What drove the UK productivity slowdown post-GFC, and how is the post-Covid recovery expected to differ? This paper …

occur making convergence unlikely. While in a closed economy, tax-financed increases in subsidy to education can have a … subsidizing higher education is more likely to induce substantial brain drain, it is likely to be inferior to subsidy to lower … levels of education if growth is to be increased …

equilibrium model where human capital is the engine of growth and individuals differ in their education abilities. We argue that … receive formal education. This specialization unambiguously increases growth and welfare. The model also shows that in … economies with high (low) average level of education abilities, the opening of credit markets induces a more disperse (equal …

improve: the quality, and not just the quantity, of education and health care; outcomes for disadvantaged groups; and lifelong …

-run per capita stock of physical capital in the economy, tending to reduce the output of the education sector and the … incentives for workers to enroll in school. Thus, cuts in education subsidies undertaken by countries in Africa for adjustment …

After impressive growth in the 2000s, China's productivity has more recently stagnated. We use firm-level data to … analyze productivity and firm dynamism trends from 2003 to 2018. We document six facts that together show a decline in China … relative to older incumbents has slowed, (iii) weaker life-cycle growth can be explained by slower productivity growth and …