The state-business relationship in the 1960s and 70s was a vertical one where the state led the private sector. The government made the plan, provided the necessary resources, and later evaluated the performance of the entrepreneurs who executed the plan. In the 1980s, however, the relationship...

To make Asia more economically sustainable and resilient against external shocks, regional economies need to be rebalanced toward regional demand- and trade-driven growth through increased regional connectivity. The effectiveness of connectivity depends on the quality of hard and soft...

This paper analyzes the impact of the German structure program "Joint Task for the Improvement of Regional Economic Structures" (GRW) on regional economic growth. The paper extends the existing literature by several aspects. First of all, using the popular augmented Solow model by Mankiw et al....

Chancellor Philip Hammond has been urged to increase government infrastructure spending to counteract any economic slowdown (demand management) and to improve the productive potential of the economy (supplyside reform). Yet the ‘Keynesian’ function of infrastructure spending ignores the...

As many countries are seeing the first signs of recovery from the COVID-19 pandemic, they are also shifting their policies from limiting the immediate economic impact of the pandemic on households and businesses to designing strategies that will revive long-term growth. Systemic challenges, such...

Owing to past structural reforms, Costa Rica has enjoyed robust GDP growth and productivity levels are gradually converging towards the OECD average. However, large GDP per capita and productivity gaps persist. In addition, not everyone has benefited from this growth. Inequality has increased...

Over the last decade and a half, the Smart Growth movement has matured in Canada. Early efforts to raise awareness on the need to better manage urban growth gave way to smart growth plans and policies adopted by municipal, regional and provincial governments. More recently, attention has shifted...

To make Asia more economically sustainable and resilient against external shocks, regional economies need to be rebalanced toward regional demand- and trade-driven growth through increased regional connectivity. The effectiveness of connectivity depends on the quality of hard and soft...

An important factor influencing corporate finance and economic growth in China lies in its government sponsored industrial policies. Examining China's five-year plans during 1991-2010, we find that state-owned firms in government supported industries enjoy faster growth in initial public...