Purpose – This paper seeks to assess the importance of time-varying regional patterns to countries' per capita growth rates, and their effect on the conclusions that can be drawn from growth regressions. Design/methodology/approach – Pooled ordinary least squares on a data set of five-year...

Recent studies on the welfare implications of internationally mobile capital for a country employing commercial policy have been restricted to constant-returns-to-scale (CRS) production models. It is generally concluded that the pursuit of such policies is welfare-decreasing under CRS...