Several recent empirical studies have examined determinants of economic growth using country average (cross-section) data. In contrast, this paper employs a technique for using a panel of both cross-section and time-series data for 98 industrial and developing countries over 1960-85 to determine...

One of the most important lessons in economics is that productivity is key to economic growth. Productivity is defined in economic theory as the ratio of output over input. Productivity is mainly driven by four components: innovation, including the creation of new technologies: education to...

What major insights have emerged from development economics in the past decade, and how do they matter for the World Bank? This challenging question was recently posed by World Bank Group President David Malpass to the staff of the Development Research Group. This paper assembles a set of 13...