This paper investigates the impact of openness to trade and higher levels of human capital on the economies of some MENA countries. To answer the question: whether either human capital or openness can be shown to cause productivity, we use panel data on 16 countries spanning the 1965 -2000...

This report is concerned with the analysis of privatization and private sector development for the eastern and southernMediterranean countries partnered with the European Union and collectively known as MED-11. Noting that the analysis applies to the situation prior to the dislocations of the...

The contribution of the ‘new economy’ to economic growth in developing countries has so far been minimal. Despite the recent hype, the ‘old economy’ will for long be the fundamental force behind economic growth in transition economies. Nonetheless, in the longer run the ‘new economy’...

The benefits from the New Economy should accrue as improvements in productivity and economic growth. But while the use of information and communication technology seems to have had a substantial impact on the performance of the United States economy, the evidence for other countries is much...

The rapid development and diffusion of the information and communications technology (ICT) is the major driving force of the New Economy. While there is ample evidence to suggest that the ICT industry has contributed a great deal to the overall economic growth of the developed countries, its...

The sharp increase in equity prices over the 1990s was widely attributed to permanently higher productivity growth derived from the New Economy. This paper establishes a rational expectations model of technology innovations and equity prices, which shows that under plausible assumptions,...

Technological progress and knowledge-based innovations have more important role in economic growth and development than ever. This conjecture is often called the new economy, referring to economic growth that is strongly associated to the development of information and communication technology....