This paper tests the impact of ICT on economic growth for underdeveloped and developing countries by using a panel dataset for the period of 1995-2006. We first develop the theory of the relationship between ICT and economic growth. We show that ICT-capital has a positive effect both on long-run...

This paper tests the endogenous relationship between Foreign Direct Investment (FDI) growth and economic growth using a panel data set for 23 Organisation for Economic Co-operation and Development (OECD) countries for the period 1975-2004. In particular we estimate a two-equation simultaneous...

Drastic technological changes are cyclical because basic R&D is carried on only at times when entrepreneurial profits for incremental technologies of the prevailing technological paradigm fall close to zero. The model is essentially an endogenous technological change framework. Varieties, input...

This paper tests the endogenous relationship between FDI growth and economic growth using a panel dataset for 23 OECD countries for the period 1975-2004. In particular we estimate a two-equation simultaneous equation system with the generalized methods of moments (GMM) that treats economic...

This study is a remark designed to underline the importance of using the right form of accumulation functions in economic growth models. After appearance of endogenous growth models in the growth literature, exclusion of a counter-force in the accumulation function, though required by the nature...

It is commonly argued that catastrophic effects of physical shocks are recovered consequentially due to internal adjustment mechanisms economies retain. The theoretical literature on growth implications of earthquakes relies on the same premise, by and large, putting relatively minor role on the...

The so-called AK models (and models that reduce to AK models without generating transitional dynamics) give rise to a very special property that is called constancy conditions. These conditions impose fix ratios among quantities of the model from the start. Hence, knowing one of the initial...