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What major insights have emerged from development economics in the past decade, and how do they matter for the World … Bank? This challenging question was recently posed by World Bank Group President David Malpass to the staff of the …
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In medieval times, most people identified with religious values and aggregate income and productivity grew at glacier speed. In the 20th century, religion played a much lesser role in daily life and income and productivity grew at high and unprecedented rates. The present paper develops a simple...
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differences in economic development among the countries of the world. According to the institutions-augmented Solow model, the …
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established, and the society moves towards mass consumption. In a matured economy, generally government interventions are replaced …
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