Using data on the US and EU top R&D spenders from 2004 until 2012, this paper investigates the sources of the US/EU productivity gap. We find robust evidence that US firms have a higher capacity to translate R&D into productivity gains (especially in the high-tech industries), and this...

Using data on the US and EU top R&D spenders from 2004 until 2012, this paper investigates the sources of the US/EU productivity gap. We find robust evidence that US firms have a higher capacity to translate R&D into productivity gains (especially in the high-tech industries), and this...

Research on the effect of ICT on productivity in OECD countries is already extensive, but the spillover and time-varying effects of ICT investment across economic activities have been only minimally explored. This paper investigates the impacts of ICT and its spillovers on productivity in...

In this study we present a comparison of investment and production per head in 21 areas of the World, and we find that in many poor areas there has been little improvement during the period 2000-2010. One of the main causes of this disappointing result has been the stagnation in many countries,...

The purpose of this paper is to estimate, by using the recent econometric techniques of unit root testing and Johansen-Juselius cointegration technique (1990), the impact of foreign capital inflow on the volume and efficiency of domestic investment in the United States during the period,...

Greenwood, Hercowitz and Krusell have claimed that the Jorgenson form of growth accounting is conceptually flawed and severely understates the role of technological progress embodied in new capital goods ('embodiment') in explaining US growth. To the contrary, this paper shows that in its...

Suboptimal investment either in terms of overinvestment or underinvestment is a value-destroying activity. This study examines the role of foreign institutional ownership, on Investment decisions and speed of adjustment to target investment. Based on a US sample of 11,690 firm - year...

This paper examines the impact of the New Economy on the relationship between corporate debt policy and firm investment opportunities. One distinctive feature of new economy firms is their high level of investment opportunities. We study whether the impact of investment opportunities on...

In this chapter, Graves and Jenkins explore the attitudes of Canadians to productivity. The distinction between our standard of living and our quality of life is a powerful one for Canadians generally. The economic citizen who emerges from Graves and Jenkins data is relatively aware of the terms...

Since 1995, productivity growth has accelerated significantly in the United States. Information technology has always been thought to be the driving force behind this development. In this article by Kevin Stiroh of the Federal Reserve Bank of New York provides strong empirical support for this...