The years following the Second World War are those of greatest economic growth in Europe. If the countries of the Iberian Peninsula, neutral in the conflict and ruled by dictatorial regimes, enjoyed that growth and had participated in the convergence phenomenon, Ireland, also neutral but...

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 economic performance of European countries was in general disappointing in the nineties. However, country difference increased, as it was that in some European countries economic growth and productivity accelerated or could match US rates. This paper uses a broad set of performance...

[enter Abstract Body]In this chapter, we review the recent and growing literature on medium-term growth patterns. This strand of research emerged from the realization that for most countries economic development is a highly unstable process; over a few decades, a typical country enjoys periods...

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...

Thailand and the Republic of Korea were developing at a similar pace during the 1960s. However, the Republic of Korea’s economic development rapidly expanded from the 1970s onward, leaving Thailand lagging far behind. This paper investigates the labor productivity slowdown in Thailand using a...

This paper seeks to identify the most promising fiscal strategy to boost long-term economic growth in Argentina and quantify its effects. To this end, the authors updated a growth-diagnostics study for Argentina and corroborated that low appropriability of social returns and insufficient public...

Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy’s vulnerability to shocks and their propagation. Macroeconomic shocks as severe and protracted as those since 2007 warrant a reconsideration of the role growth-promoting policies...

Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy’s vulnerability to shocks and their propagation. Macroeconomic shocks as severe and protracted as those since 2007 warrant a reconsideration of the role growth-promoting policies...

This paper presents a stock-flow-consistent model in which growth is led by exports and government expenditure. It considers domestic and external debt dynamics and gross capital flows. Countries may choose to not fully use their external space to accumulate international reserves. The model is...