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The process of economic reforms launched in 1978, and gradually extended until current days, has catapulted China into a stellar growth trajectory that has proven highly resilient. In this paper, we estimate the effect on economic development of China's industrial policy, in particular, the...
Persistent link: https://www.econbiz.de/10013071566
We augment a Schumpeterian growth model with a public basic-research sector to examine how much a country should invest in basic research. We find that the closer the country is to the world’s technological frontier the more the government should invest in basic research. Basic-research...
Persistent link: https://www.econbiz.de/10003761319
This paper examines recent technological developments and how they could impact efforts by policymakers and political leaders in developing countries to harness trade and investment liberalization to achieve economic development outcomes. It begins by discussing some of the proven elements to...
Persistent link: https://www.econbiz.de/10012240977
This policy brief comments on a number of macro-structural linkages that have implications for firm-level dynamism, which may have served as contributing factors to the stag-deflation that has gripped the OECD region as a whole, including Canada, in recent years. Specific linkages considered...
Persistent link: https://www.econbiz.de/10013002885
Existing explanations of China's dramatic economic growth since 1978 have neglected a key piece of the China Puzzle, that is, China since 1978 has been a typical “East Asian Developmental State (EADS)” with a long socialist legacy that regularly deploys industrial and science & technology...
Persistent link: https://www.econbiz.de/10012960490
In this study, the prevalent methodology for design of the industrial policy in developing countries was critically assessed, and it was shown that the mechanism and content of classical method is fundamentally contradictory to the goals and components of the endogenous growth theories. This...
Persistent link: https://www.econbiz.de/10012057102
This paper examines recent technological developments and how they could impact efforts by policymakers and political leaders in developing countries to harness trade and investment liberalization to achieve economic development outcomes.It begins by discussing some of the proven elements to...
Persistent link: https://www.econbiz.de/10013290749
Innovation drives America’s economic growth and ultimately determines its living standards andthose of its metropolitan areas. However, the nation faces a growing innovation challenge in today’sglobal economy. To respond, the federal government should establish a National...
Persistent link: https://www.econbiz.de/10013235839
Technological innovation has historically contributed to inclusive economic growth in Germany. In more recent decades, however, this contribution has weakened due to the declining impact of technological innovation on labor productivity growth. Fearing that this declining impact would undermine...
Persistent link: https://www.econbiz.de/10011772201