Applying recent estimates of total factor productivity (TFP) growth on Australian sheep farms, we analyse the long-run effects of TFP growth on the world wool market using a detailed model of the world wool market that treats raw wool, wool textiles and wool garments as heterogeneous...

India’s investment rate has increased fourfold since 1950 and is now nearly 40% of GDP. Many studies have suggested that this rising investment rate is the most significant component of India’s growth acceleration. I assess these hypotheses using the neoclassical growth model decomposition...

Much of the debate about the impact of China on the international political economy arises from the many dimensions of the potential impact and the lack of historical precedent for such a large change. This paper provides some context for thinking about these issues by contrasting China’s...