This paper offers a thesis for why the US overtook the UK and other European countries in the 20th century in both aggregate and per capita GDP as a case study of recent models of endogenous growth, where "human capital" is the engine of growth. By human capital we mean an intangible asset, best...

This paper offers a thesis for why the United States (US) overtook the United Kingdom (UK) and other European countries in the 20th century in both aggregate and per capita GDP as a case study of recent models of endogenous growth, where "human capital" is the engine of growth. By human capital...

Empirical evidence has suggested that R&D investment is positively related to economic growth. This paper extends prior research by further examining the heterogeneous effects of R&D expenditures in the high-tech sector on economic growth. This study adopts a quantile regression approach to...

This paper argues that the effect of a financial stimulus on growth can vary along quantiles of the conditional growth distribution. We support this argument by presenting a theoretical finance–growth model, mainly inspired by Pagano (1993) and Canarella and Pollard (2004), where quantile...

This analysis assesses the role of social capital in generating heterogeneity in growth processes across U.S. counties by estimating growth regressions, using the novel semiparametric smooth coefficient quantile regression method in which parameters are unspecified functions of a measure of...