We address the poverty trap rationale for aid to Africa. We calibrate models that embody typical explanations for stagnation: coordination failures, ineffective mix of occupational choices and imperfect capital markets, and insufficient human capital accumulation coupled with high fertility....

As an extensive of the export-led growth of national economy overseas, direct investment by Korean multinationals has been rapidly increased. This article explores the development of the overseas manufacturing direct investment by Korean firms and the relationship between parent firms and...

This paper investigates the impact of federal extramural research funding on total expenditures for life sciences research and development (R&D) at U.S. universities, to determine whether federal R&D funding spurs funding from non-federal (private and state/local government) sources. We use a...

European economic growth has been weak, compared to the US, since the 80s. In previous work (Krueger and Kumar, 2003), we argued that the European focus on specialized, vocational education might have been effective during the 60s and 70s, but resulted in a growth gap relative to the US during...

In this paper, we develop a model of technology adoption and economic growth in which households optimally obtain either a concept-based, general' education or a skill-specific, vocational' education. General education is more costly to obtain, but enables workers to operate new technologies...

Motivated by theories of the firm, which we classify as technological' or organizational,' we analyze the determinants of firm size across industries and across countries in a sample of 15 European countries. We find that, on average, firms facing larger markets are larger. At the industry...

The shape of convective cell at the onset of heap formation in the Faraday experiment with fine granular materials is studied in a simple experiment. The motion of fine grains are found to be confined in a single thin conical cell instead of a pair of convective cells as considered previously....

India started opening its economy a decade ago to integrate with the global economy. Several economic reforms have been undertaken during this period with the hope that India will soon emerge as a global player. There is a need to review the developments and take necessary corrective action. It...