This paper focuses on the growth and convergence of Central, Eastern and South-Eastern European EU countries (CESEE). We argue that the factors behind the pre-crisis growth model of the region - skilled yet affordable labour force, foreign direct investment, imports of productivity-enhancing...

Economic growth has become a prominent political goal worldwide, despite its severe conflicts with ecological sustainability. Are "growth policies" only a question of political or individual will, or do "growth imperatives" exist that make them "inescapable"? We structure the debate along two...

Theoretical models of growth reveal that either exogenous or endogenous, technology is the main driving force behind the long-run economic growth. Furthermore, in the endogenous growth framework, diffusion of technology is the basic mechanism of per capita income convergence among countries....

Growth matters for poverty reduction and the achievement of other MDGs, but the pattern of growth matters more. This paper, based on the MDG experience, identified and analysed a large number of economic policy measures which can make growth more sustained, inclusive and equitable, so as to be...

We study the implications of the creative destruction lifecycle of innovation for asset prices. We develop a general equilibrium model of endogenous firm creation and destruction where 'incremental' innovations by incumbents and 'radical' innovations by entrants drive productivity improvements....

Peacekeeping operations, mandated through the United Nations and regional bodies, play an increasingly diverse role in the economic development of post-conflict countries. A key way that missions can use their administrative capacity to support economic recovery is developing effective...

Large incumbent firms routinely acquire startups. This may stimulate aggregate growth, as acquisitions provide an incentive for startup creation and could transfer ideas to more efficient users. However, large firms do not always implement the ideas of their acquisition targets. Moreover,...

This paper provides an overview of the currently available evidence on the importance of information and communication technologies (ICT) for developments in productivity growth in the euro area. On the basis of the available data, there is evidence of an increased contribution of ICT to...

We study whether technology gains in sectors related to Information and Communications Technology (ICT) increase productivity in the rest of the economy. To separate exogenous gains in ICT from other technological progress, we use the relative price of ICT goods and services in a structural VAR...

Digitalisation can be viewed as a major supply/technology shock affecting macroeconomic aggregates that are important for monetary policy, such as output, productivity, investment, employment and prices. This paper takes stock of developments in the digital economy and their possible impacts...