In the paper we focus on emerging market economies’ pattern of trade, with a view to explaining the different features of competitiveness for high skill- and low skill-intensive firms. We consider a theoretical dynamical setup where high-skill firms engage in innovation activity and gain...

Upon introducing natural resources, both renewable and non-renewable, into an endogenous growth framework with R&D, this paper derives the transitional dynamics of an economy towards its long-run equilibrium. Using the Euler - Lagrange framework, this paper has succesfully gured out the optimal...

Starting in the early 1980s, the U.S. patent regime experienced major changes that allowed the patenting of numerous scientific findings lacking in current commercial applications. We assess the rationality of these changes in the legal and institutional environment for science and technology...

This paper analyzes, from a theoretical perspective, the role of the financial system to promote growth and macroeconomic stability. It also endogenously explains the performance of the financial systems as a consequence of industrial (or sectoral) diversification. In the model, the productive...

This paper analyzes, from a theoretical perspective, the role of the financial system to promote growth and macroeconomic stability. It also endogenously explains the performance of the financial systems as a consequence of industrial (or sectoral) diversification. In the model, the productive...

This paper studies the long-run economic impact of natural resources by constructing a Schumpeterian endogenous growth model that incorporates an upstream resource intensive sector. Natural resources are extracted, processed and utilized to produce intermediate capital goods which are essential...

We set up an endogenous growth model with vertical innovations in which the use of a non-renewable resource within the production process generates a flow of pollution. This flow negatively affects the dynamics of the stock of environment, which is an argument of the non-separable utility...

This paper examines the behavioural finance aspects of developed countries which invest significantly in R&D, while trying to benefit from this investment, within the framework of the so called ‘creative intelligence’. At this level, creative intellige