Following an unparalleled rise in uncertainty over the Great Recession, the US economy has been experiencing anaemic productivity growth. This paper offers a quantitative study on the link between uncertainty and low productivity growth. Firstly, using micro level data I show that uncertainty...

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...

Investment in knowledge-based capital (KBC) – assets that have no physical embodiment, such as computerised information, innovative property and economic competencies – has been rising significantly. This has implications for innovation and productivity growth and requires new thinking on...

This paper explores the growing importance of intangible assets as a potential source of innovation and productivity gains, and the contribution of efficient resource allocation to this process. Realising the growth opportunities implied by intangible assets depends on the ability to reallocate...

This paper extends Piketty's analysis of the wealth-income ratio used as a proxy for wealth inequality, to allow for innovation. Drawing on a Schumpeterian (R&D-based) growth model that incorporates both tangible and intangible capital and using historical data for 21 OECD countries, we find the...

This paper studies the effect of optimal macroprudential policy in a small open economy model where growth is endogenous. By introducing endogenous growth, this model is able to capture the persistent effect of financial crises on output, which is different from previous literature but...

This study investigates the impact of financial stability on economic growth in Nigeria by employingthe Autoregressive Distributed Lag (ADRL) technique using time series data from Q1, 2006-Q4, 2020. Real GDP is the experimental variable and proxy for economic growth, while financial stability is...

Despite the recent financial crisis has put much emphasis on stabilization macro-policies and regulatory issues, long-term growth and labour productivity are still high in the international economic agenda, as they are crucial for living standards all around the globe.“Intangible capital”,...