There have been numerous studies concerning productivity, representing two general approaches toward measuring the concept. Parametric approaches specify the actual form of the production function based on theoretical assumptions, while non-parametric approaches use empirical best-practice cases...

The main focus of this paper is the impact of efficiency losses, related to public capital stock, on the prospects of economic growth in democratic and autocratic political environments. We introduce a distinction between two types of efficiency loss: along with the loss of public capital during...

This paper deals with a model of economic growth, which we expand to include endogenous policy switching based on retrospective voting. It is shown that under certain conditions the solution has a special form that we call a cyclically balanced growth path. This type of solution is an analogue...