It is a widely held belief that foreign direct investment (FDI) has a positive effect on economic growth. We test this hypothesis by performing convergence regressions derived from a model of endogenous technological change. We estimate the rate of growth in per-capita income, relative to the...

I model life expectancy in terms of physical and human capital and technology, the fundamental economic variables described by economic growth theories. For concreteness, the Solow model and a convergence club growth model by Howitt and Mayer (2001) are used as examples. I discuss how a multiple...

The feeble results of liberalization policies in Latin America are explained in terms of a multiple steady state model including a dynamic human development trap, endogenous technological change, technology transfer and trade. Divergent and convergent steady states, with and without a human...