Although research and development is widely considered to be an important source of growth, relatively little is known about how its effects differ across industries. This is mainly because much reseach on the effect of R&D has used either cross-section or time-series data and the remainder has...

This paper is a first step toward closing the analytical gap in the extensive literature on the results of interactions between public and private R&D expenditures, and their joint effects on the economy. A survey focusing on econometric studies in this area reveals a plethora of sometimes...

This paper aims to examine the relationships between inequality and growth, emphasising the role of a product market, its market structure and technological innovation.

The growth process for a technological leader is different from that of a follower. While followers can grow through imitation and capital deepening, a leader must undertake original research. This suggests that as the gap between the leader and the follower narrows, the follower must undertake...

The role of financial institutions and corporate governance in the conduct and performance of industrial firms, especially in the area of technological innovation and international competition has been hotly debated in the recent past. The results presented here are a contribution to the...