Recent statistical advances suggest new ways of looking at growth accounting when global value chains (GVCs) are taken into consideration. The relative contribution of consumption, investment and net exports to economic growth are resized according to their net domestic value-added, discounting...

"Per capita income in the richest countries of the world exceeds that in the poorest countries by more than a factor of 50. What explains these enormous differences? This paper returns to several old ideas in development economics and proposes that linkages, complementarity, and superstar...