The linearity of the relationship between income inequality and economic development has been long questioned. While theory provides arguments for which the shape of relationship may be positive for low levels of inequality and negative for high ones, most of the empirical literature assumes a...

This paper explores the role of information in the theory of economic growth and development. They way it is used here, information/ refers to every feature of an economy, including not only the economic environment, but also the institutions like markets and government policies that affect the...

Progress is favoured by people, companies and countries. The study attempts to define progress, as the process of developing or improving. The study explore the dimensions of progress, the benefits and the causes, the pioneers and laggards in progress, and initiators of progress. Role of...

Science and technology have in-fact been the driving force behind the economic improvement of the developed world. Advances in science and technology have provided the knowledge to significantly reduce poverty while simultaneously improving the quality of life in developed countries throughout...

Rodrik (2016) pointed out that late industrializing countries are experiencing a lower peak at lower income levels in the manufacturing employment share hump-shaped path. The present study develops a theoretical model to analyze the dynamics of industrialization and deindustrialization in...

Over the last decade, a growing body of literature dealing with the phenom-enon of the "middle-income trap" (MIT) has emerged. The term MIT usually refers to countries that have experienced rapid growth and thus reached the status of a middle-income country (MIC) in a very short period of time,...

By merging individual data on valuable patents granted in Prussia in the late nineteenth century with county level information on literacy and income tax revenues we show that increases in the stock of human capital not only improved workers ́productivity but also accelerated innovative...

The concept of the middle income trap takes place among the frequently discussed issues in the growth literature in the last periods. There are a number of countries in the world, which cannot move to the high income economic level and which squeeze to the middle income trap. These countries...