The aim of this paper is to provide an overview of empirical cross-country growth literature. The paper begins with describing the basic framework used in recent empirical cross-country growth research. Even though this literature was mainly inspired by endogenous growth theories, the...

This paper develops a general equilibrium model to simultaneously endogenize the level of division of labor, the extent of the market, the degree of inequality of income distribution, and aggregate productivity. It shows that good capitalism with free markets for all goods including government...

This study is an attempt to test the hypothesis “international trade contributes to economic growth through its effects on human capital accumulation.” To assess the hypothesis empirically, we employed the extended Neo-Classical growth model that reflects some features of the endogenous...

Economic analysts have used trends in total factor productivity (TFP) to evaluate the effectiveness with which economies are utilizing advances in technology. However, this measure is problematic on several different dimensions. First, the idea that it is possible to separate out the relative...

A country's growth of output is identically equal to its ratio of investment to output and the productivity of investment. In "new" growth theory regressions, which include the investment ratio, all other included variables pick up why the productivity of investment differs between countries....

We review the growth experience of middle-income countries. Economic factors associated with growth appear to differ between middle income and other countries. The efficiency of the financial system is importantly related to the growth rate in low- and middle-income countries, but appears to...

This note presents a simple model to measure the relative economic growth of economic systems. The model considers S-Shaped pattern of economic growth which represented with a linear model provides information on how an economic system growth in comparison with another one. In particular, this...