This paper investigates the link between health care expenditures and GDP for a sample of 21 OECD countries using recent developed panel cointegration techniques. In contrast to previous studies, the analysis accounts for the fact that health care expenditures are not only determined by income....

Hochentwickelte Industriestaaten bedürfen permanenter Innovation, um weiterhin wachsen zu können. Nur dadurch ist es möglich, auf dem Weltmarkt Preise zu erzielen, die günstige Terms of Trade und ein hohes Lohnniveau ermöglichen. Die Förderung von Innovation wird damit zu einer zentralen...

This paper discusses the link between patterns of technological change and economic development taking an evolutionary perspective. We argue that the modes and timing of such coupled dynamics are deeply influenced by the emergence of new techno-economic paradigms or regimes. ICT-based...

The growth rate of total factor productivity seems to have increased recently, at least in the United States. Higher US productivity growth may justify higher stock market valuations than in the past and thus herald an emerging New Economy. However, the size of the estimated growth rate of total...