Próchniak, Mariusz - In: Contemporary economics 7 (2013) 3, pp. 17-38
economic development. To answer this question, a new concept of the institutions-augmented Solow model is constructed. The … institutions-augmented Solow model fits the empirical data very well. It turns out that differences in physical capital, human … differences in economic development among the countries of the world. According to the institutions-augmented Solow model, the …