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The authors study how the effect of trade openness on economic growth depends on complementary reforms that help a country take advantage of international competition. This issue is illustrated with a simple Harris-Todaro model where output gains after trade liberalization depend on the degree...
Persistent link: https://www.econbiz.de/10014061434
I propose a two-sector endogenous growth model with heterogeneous sectoral productivity and sector-specific, nonlinear … hiring costs to analyse the link between sectoral resource allocation, low productivity growth and stagnant real wages. My … implemented in Germany in 2003-2005, is beneficial in the long-run as it raises growth of technology, labor productivity and real …
Persistent link: https://www.econbiz.de/10012870989
-country model of international trade and endogenous productivity growth. Knowledge spillovers link firm-level productivity in …
Persistent link: https://www.econbiz.de/10012793522
This paper constructs a two-country model to investigate how tariff policy influences productivity growth through … productivity of investment in innovation. We show that the relationship between tariff policy and economic growth depends on the …
Persistent link: https://www.econbiz.de/10015066879
convergence rates. Consistent with theories, the persistence of productivity differentials is found to be positively correlated …, productivity convergence appears to be enhanced by human capital but deterred by government spending. … determinants of cross-country differences in the persistence of productivity differentials Specifically, we focus on the effects of …
Persistent link: https://www.econbiz.de/10011399314
Several recent studies have examined the steady-state welfare implications of mortality differentials within unfunded Social Security systems, concluding that these differentials undermine the progressivity of the system and make society worse-off relative to alternative public pension schemes....
Persistent link: https://www.econbiz.de/10013217547
This paper challenges recent empirical findings that democratic institutions have a negligible direct effect on economic growth. We delve into numerous historical sources and democracy indicators to identify the countries and timing of recent democratization episodes. We then employ a...
Persistent link: https://www.econbiz.de/10014070688
A windfall of natural resource revenue (or foreign aid) faces government with choices of how to manage public debt, investment, and the distribution of funds for consumption, particularly if the windfall is both anticipated and temporary. We show that the permanent income hypothesis prescription...
Persistent link: https://www.econbiz.de/10003813611
A windfall of natural resource revenue (or foreign aid) faces government with choices of how to manage public debt, investment, and the distribution of funds for consumption, particularly if the windfall is both anticipated and temporary. We show that the permanent income hypothesis prescription...
Persistent link: https://www.econbiz.de/10012764524
We present a multi-country theory of economic growth and R&Ddriven technological progress in which countries are connected by a network of knowledge exchange. Technological progress in any country depends on the state of technology in the countries it exchanges knowledge with. The diffusion of...
Persistent link: https://www.econbiz.de/10011665033