Human capital is the most important factor of production in today's economies - and education is an investment that generates higher incomes in future. The growth stars of the coming years identified in our introductory study base their success on major gains in human capital. The success...

International analysis of economic growth has confirmed the theoretical assumption that international variations in per capita income can to a large extent be explained by differences in the accumulation of capital and human capital and by differing rates of technological progress. However,...

Even before the onset of the 2008 global financial crisis and ongoing European debt crisis, much attention has been given to the re-emergence of the Asian giants, the People's Republic of China (PRC) and India. Both countries have attained unprecedented growth and economic development-PRC and...

The study analyzes the impacts of the financial and economic crisis on the potential growth in the European Union. It carries out quantitative analysis in order to reveal the medium and long-term trends. According to the analysis the impacts of the crisis are significantly different in the...

The on-going "Make in India" campaign aims at manufacturing revival. Its characteristics resemble East Asian industrial reform and growth policies based on the flying-geese model which highlights "step-by-step" changes in a country's specialisation pattern and global competitiveness accompanied...

This paper summarizes the main characteristics of the two major Chinese growth strategies since 1978, namely the Deng strategy (named after Deng Xiaoping) between 1978 and 2011 and the Xi strategy (named after Xi Jinping) since 2012/13. After a brief description of both strategies, I analyze in...

This paper reviews the recent economic policies in Brazil and their impacts on the poor, and examines macro policies required to allow for poverty reduction. We first present the economic policies of the following periods and their impacts on growth and on the poor: 1980-1989, 1990-2002, and...

We consider a model of policy choice in which appropriate policies depend on a country's own circumstances, but the presence of a successful leader generates an informational externality and results in too little "policy experimentation." Corrupt governments are reined in while honest...