Do intermediate goods help explain relative and aggregate productivity differences across countries? Three observations … standard multisector growth model accommodating these features to show that inefficient intermediate production strongly … depresses aggregate productivity and increases the price ratio of final goods to services. Applying the model to data for middle …

the first time the negative impact of cronyism on economic growth. In the early 2000s, a policy shift in Egypt led to the … 1996 and 2006 experienced lower aggregate employment growth during the period than those that did not. A wide array of …

This study is a first contribution to prioritization across productivity determinant capabilities that attempts to …

, and knowledge diffusion. We study the effect of trade liberalization in a multi-country, multi-sector endogenous growth … into higher growth along the counterfactual balanced growth path (BGP). Heterogeneous knowledge diffusion across country …-sectors amplifies the specialization effects of trade-induced R&D re-allocation, becoming an additional source of growth and welfare …

We develop a classical macroeconomic model to examine the growth and distributional consequences of education. Contrary … to the received wisdom, we show that human capital accumulation is not necessarily growth-inducing and inequality …-reducing. Expansive education policies may foster growth and reduce earning inequalities between workers, but only by transferring income …

A simple classical-Marxian model of growth and distribution is developed in which education transforms low …-skilled wages and profit income. We analyze the implications for class divisions, growth and distribution, of the transformation of … education can have a positive effect on growth but by altering the distribution of income rather than by fostering technological …

material balance principles and relying too much on planner solutions to obtain long-term growth. By analysing a multi-sector R …&D-based endogenous growth model with exhaustible natural resources, labour, knowledge, and physical capital as inputs, the present paper … addresses this critique. We study transitional dynamics and the long-term growth path and identify conditions under which firms …

The growth prospects of a nation are stymied by the burden of government debt. This study has two goals: first, it … tests whether public debt hinders growth; and, second, it explores whether economic policy ameliorates this effect. A large … panel data of countries for 1970–2010 reveal a negative and robust effect of public debt on growth. Strong institutions …

reduce the fiscal deficit and public debt) in euro area (EA) countries. The focus is on analysing the growth effects of …-2009); and the euro crisis (with a specific focus on the 2011-2013 period). The empirical evidence on the growth effects of … fiscal consolidation shows that while fiscal adjustments are contractionary, the negative growth effects were particularly …