This paper investigates whether ICTs hardware and services play a complementary role inboosting economic growth. The main argument is that investments in ICTs fixed capital are anecessary but not sufficient condition leading to productivity gains, above all in late adoptercountries. Their...

Most economic historians would surely endorse Paul Romer's view expressed above that technological progress lies at the heart of long run economic growth. Long ago Kuznets identified the epoch of 'modern economic growth' as one where growth came to be driven by scientific and technological...

This paper develops a comprehensive endogenous growth framework to determinethe optimal mix of growth policies. The analysis is novel in that we captureimportant elements of the tax-transfer system and fully take into account transitionaldynamics in our numerical analysis. Currently, for...

The aim of this paper is to account for both the short-run uctuations and thevery-long run transformations induced by technological change in analysing long-rungrowth patterns. The paper investigates the possible imprint left by short-run uctuationson the long run dynamics by aecting the...

R&D-based growth theory suggests that a larger population size raises either the long-run rate of economic growth (strong scale effect) or the level of per capita income (weak scale effect), with far-reaching policy implications. However, for modern times there is little empirical support for...

The long-run evolution of per-capita income exhibits a structural breakoften associated with the Industrial Revolution. We follow Mokyr (2002) and embedthe idea that this structural break reflects a regime switch in the evolution of technologicalknowledge into a dynamic framework, using Airy...