We examine how credit constraints affect the cyclical behavior of productivity-enhancing investment and thereby … a long-term productivity-enhancing one. Because it takes longer to complete, long-term investment has a relatively less … volatility and growth. We first develop a simple growth model where firms engage in two types of investment: a short-term one and …

The study analyses the relationships between capital dynamics, productivity, global value chains and foreign direct … investment using panel data techniques. Among other results, we confirm the high importance of tangible and intangible ICT … capital for productivity and GVC integration. We examine the extent of underinvestment in ICT in the EU relative to other …

Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in … ; Endogenous Growth ; Knowledge Diffusion ; Productivity Slowdown ; Convergence ; Divergence …

Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in … ; endogenous growth ; knowledge diffusion ; productivity slowdown ; convergence ; divergence …

explain the Great Divergence, the failure of less developed countries to attract capital from abroad, the productivity … ; productivity slowdown ; roaring twenties …

Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in …

Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in …

models suggest that a shortfall in productivity-enhancing investments temporarily slows technological progress, creating a …-level exposure to the 2008-9 financial crisis, I show that tight credit reduced investments in productivity-enhancement, and has … 12% higher today if productivity-enhancing investments had grown at pre-crisis rates. …