Does fractionalization change over time? If so, are there any substantial implications foreconomic performance? To answer such questions, we construct a new panel data set withfractionalization measures for 26 former communist countries covering the period from 1989to 2002...

Questioning the underlying assumptions of the process of creative destruction, weconceptualize an alternative process of creative construction that may characterizethe dynamics between entrants and incumbents. We discuss the underlyingmechanism of knowledge spillover strategic entrepreneurship...

Schumpeterian development is characterised by the simultaneous interplay of growthand qualitative transformations of the economic system. At the sectoral level, suchqualitative transformations become manifest as variations in the sectoral composition ofproduction. Following the implementation of...

Unied growth theory predicts that the timing of the fertility transitionis a key determinant of contemporary comparative development, as itmarks the onset of the take-o to sustained growth. Neoclassical growth theorypresupposes a take-o, and explains comparative development by variationsin...

How does technological progress in financial intermediation affect the economy? To address this questiona costly-state verification framework is embedded into a standard growth model. In particular, financialintermediaries can invest resources to monitor the returns earned by firms. The...

We construct and estimate a unified model combining three of the main sources of cross-country income disparities:[...]

El desempeño macroeconómico de Bolivia durante el período de 1994 a 1998 es analizado y comparado con el desempeño de períodos anteriores y el desempeño de otros países en desarrollo (agrupados de acuerdo al ingreso, región y condición de su deuda). Esto permite evaluar lo alcanzado en...

This research argues that variations in the interplay between cultural assimilation and cultural diffusion have played a significant role in giving rise to differential patterns of economic development across the globe. Societies that were geographically less vulnerable to cultural diffusion,...

This paper discusses the recent literature on the role of the state in economic development. It concludes that government incentives to enact sound policies are key to economic success. It also discusses the evidence on what happens after episodes of economic and political liberalizations,...

Large and sustained differences in marginal products of capital (MPKs) across countries are sharply at odds with the core implications of the neoclassical framework. Lucas (1990) and many subsequent studies have examined reasons for this MPK differential. In a recent contribution, Caselli and...