In this paper we contribute to the debate on the relationship between growth and well-being by examining an endogenous growth model where we allow for externalities in consumption, leisure, and production. We analyze three regimes: a decentralized economy where each household makes isolated...

In this paper we apply a model of early industrialization to the case of New Zealand and Uruguay in 1870-1940. We show how differences in agricultural institutions may have produced different development paths in two countries which were similar under many respects. While in New Zealand the...

Abstract In this paper we apply a model of early industrialization to the case of New Zealand and Uruguay in 1870-1940. We show how di_erences in agricultural institutions may have produced di_erent development paths in two countries which were similar under many respects. While in New Zealand...