In this paper we analyze the effect of inequality in the distribution of endowments of privateinputs (like land, capital) on production efficiency through its effect on the voluntary provisionof collective inputs (like irrigation, public research) that are complementary in production withthose...

This paper proposes an equilibrium theory of the organization of work in an economy with animplicit market for productive time. In this economy, agents have limited productive time andcan choose to produce in autarky, buy productive time from helpers to increase ownproduction or, sell their...

During the past two decades, many countries have embarked on a path of developing their financial markets, strengthening their technological base and stabilizing their economies. This paper finds that financial development and investment in information and communications technology (ICT) have...

We generalise the traditional development-accounting framework to an open-economy setting. In addition to factor endowments and productivity, relative factor costs emerge as a source of real-income variation across countries. These are shaped by bilateral trade determinants (which underpin the...

This paper looks at economic growth and its fundamental determinants in Russia over the last decades. It starts by showing that, contrary to the views of some political commentators, growth is highly important for the popularity of president Putin. Furthermore, regular models of growth are...

Real effective exchange rate (REER) imbalances may affect economic growth by altering the allocation of labour and capital across sectors. This study assesses whether the component of inter-sectoral production factor misallocation induced by REER misalignments significantly hinders economic...

This paper examines the impact of North-South trade-related technology diffusion on TFP growth in small and large states in the South. The main findings are: i) TFP growth increases with North-South trade-related technology diffusion, with education, and with the interaction between the two, and...

Studies regarding the migrants' impact upon performance variables and in particular upon productivity growth - which is the focus of this study - are few although there has been an increased interest in this area. This study addresses this issue in a cross-country and regional perspective with a...

We show that in a fully integrated economy, in which there is free mobility of goods and factors, each member’s share of total output will equal its shares of total stocks of productive factors (i.e., physical and human capital). We label this result the equal-share relationship. This...