This book elaborates a new dependent and localized growth theory based upon knowledge externalities by making two … important contributions. Firstly, it elaborates the hypothesis that total factor productivity growth stems from pecuniary … knowledge externalities that consist in the access to localized external knowledge, at costs that are below equilibrium levels …

Externalities play a central role in most theories of economic growth. We argue that international externalities, in … have international knowledge externalities. When calibrated, the hybrid model does a surprisingly good job of generating …

A method for analyzing productivity convergence based on frontier production functions is proposed. It is examined …