Consensus forecasts for the global economy over the medium and long term predict the world's economic gravity will …

reason might be perspective. Most convergence papers frame the analysis in a `Solow world' in which countries exist … independent of one another. But most international trade economists have a very different perspective of a world in which … theory. The key point here is that countries trading is not sufficient proof that trade helps cause per capita income …

We introduce imperfect creditor protection in a multi-country version of Schumpeterian growth theory with technology … transfer. The theory predicts that the growth rate of any country with more than some critical level of financial development … will converge to the growth rate of the world technology frontier, and that all other countries will have a strictly lower …

sections place the growth-accounting exercise within the context of two recent strands of endogenous growth theory -- varieties …