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This paper presents a simple general equilibrium model of economic performance through time. The model incorporates four main determinants of economic performance: technology, capital investment, the division of labor and quality of institutions. It demonstrates that growth is not automatic even...
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may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …
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The Renaissance era in Western Europe was marked by a flourishing of economic and cultural life that gave rise to numerous discoveries and inventions. This paper studies the role played by Greek migrants in this process. Using a newly constructed dataset on Greek migrants in Europe after the...
Persistent link: https://www.econbiz.de/10014227815
-led capital investment focus toward domestic consumption, productivity and higher levels of innovation. In this transition towards … increase indigenous (i.e. China-based) innovation in an effort to turn China into a global leader in R&D and innovation. In … this topic reflect the growing significance of China as a hub for global innovation, they have largely underestimated the …
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