still treated as exogenous. In practice, however, both the growth of the labour force and the growth of labour productivity …In mainstream growth theory, including endogenous growth theory, the naturalrate of growth as defined by Harrod, is … natural growth rates. It also has serious implications for the way in which the growth process is viewed: whether from the …

still treated as exogenous. In practice, however, both the growth of the labour force and the growth of labour productivity …In mainstream growth theory, including endogenous growth theory, the naturalrate of growth as defined by Harrod, is … natural growth rates. It also has serious implications for the way in which the growth process is viewed: whether from the …

. In this article, as part of the symposium on total factor productivity, Timothy C. Sargent and Edgard R. Rodriquez of … Finance Canada discuss the issue of the choice between labour and total factor productivity. They conclude that both measures … have uses. For periods of less than a decade, labour productivity is the preferred measure, but for longer periods total …

In this paper we show the benefits of regional connectivity and specialization to growth. Starting with one region we … speed up growth. The results also show a strong positive effect of reductions in the cost of making new connections. This … has a significant impact on both the steady state growth rate and on transitional growth, while significantly reducing the …

Periods of economic boom with rapid credit and GDP growth can be followed by sudden busts. In the presence of financial … markets imperfections, a simple modification of a neoclassical growth model can fully account for this behavior. I study a … growth model for a small open economy where decreasing marginal returns to capital appear after the country has reached a …

productivity of private versus public capital, of private versus public labor, and of public infrastructure within the private … endogenous growth framework. The results suggest that the elasticity of public infrastructure is significantly lower than … industrialized ones, is associated with steeper growth paths that lead to lower steady state capital labor ratios and per capita …

between primary and secondary sectors in the growth process. In the case of primary and tertiary sector services, though the … missing for a relatively faster adjustment towards long run equilibrium rate of growth. …

We present evidence on the effects of aid transfers and their degree of volatility on economic growth and show that …. Using a stochastic endogenous growth model, we provide a theoretical rationalisation for our empirical evidence. Both the …’s growth rate may appear if and only if aid is volatile. As a result, we conclude that it is only in conjunction with the …

Despite the widespread popularity of the Solow growth model, much of the recent empirical work based on the classic … framework misrepresents a crucial feature of the model. Namely, the growth rate of technological progress, assumed to be …