DIW Berlin has examined the effects of investment in research and development on economic growth in Germany and other OECD countries. Their results show that an increase of one percentage point in research and development spending in the economy as a whole leads to a short-term average increase...

Das DIW Berlin hat die Wachstumswirkungen von Investitionen in Forschung und Entwicklung in Deutschland und weiteren OECD-Ländern untersucht. Demnach führt ein Anstieg des Wachstums der gesamtwirtschaftlichen Forschungsausgaben um einen Prozentpunkt kurzfristig zu einer Erhöhung des Wachstums...

Endogenous growth theory assigns an important role for entrepreneurship in the process of economic development. This paper sets to formally test the impact of entrepreneurship on economic growth. Entrepreneurship is represented by a number of proxy variables, whereas Total Factor Productivity is...

Das DIW Berlin hat die Wachstumswirkungen von Investitionen in Forschung und Entwicklung in Deutschland und weiteren OECD-Ländern untersucht. Demnach führt ein Anstieg des Wachstums der gesamtwirtschaftlichen Forschungsausgaben um einen Prozentpunkt kurzfristig zu einer Erhöhung des Wachstums...

Schumpeterian development is characterised by the simultaneous interplay of growth and qualitative transformations of the economic system. At the sectoral level, such qualitative transformations become manifest as variations in the sectoral composition of production. Following the implementation...

This paper explores the role of managerial capital and business research and development (R&D) in fostering multifactor productivity (MFP) convergence in a panel of 42 countries. The OECD long-term growth model is augmented to show that, in addition to trade openness, an economy’s speed of...

Endogenous growth theory assigns an important role for entrepreneurship in the process of economic development. This paper sets to formally test the impact of entrepreneurship on economic growth. Entrepreneurship is represented by a number of proxy variables, whereas Total Factor Productivity is...

The current global crisis (whose origins lie in the functionality of financial markets) has diverse repercussions for intellectual capital creation (i.e. human and structural assets as well as their components). The phenomenon is linked with limited resources being allocated to innovative...

This paper presents a neoclassical-growth model in which long-run growth is driven by the continuous specialization of capital. The specialization of capital is the allocation of capital into sets of specialized capital and the coordination required for different individuals to use the same set...

Variation in factor shares, extensively documented in recent years, implies that standard growth accounting exercises are plagued by measurement issues. First, the standard assumption of constant shares generates a bias in the estimation of the contribution of factors to economic growth. Second,...