For the past 40 years, the most dynamic economies in the world were China and India. From approx. 5% of US GDP level, China grows to 26% and India to 11% of current US levels. The ratio of foreign trade to GDP is similar for both countries as well as capital flows to GDP. So why did China...

The evaluation of economic development level is commonly measured by the growth rate of GDP. However, this single-dimensional measurement may cause potential issue to investigate sustainable economic development and growth model. An alternative framework is introduced to economic development...

The economic impact of Artificial Intelligence (AI) is studied using a (semi) endogenous growth model with two novel features. First, the task approach from labor economics is reformulated and integrated into a growth model. Second, the standard represen- tative household assumption is rejected,...

The relation between infrastructure and economic growth has been largely investigated in the literature, but the empirical evidence found has proven to be controversial. This paper aims to empirically analyze the impact of infrastructure stocks on economic growth. In spite of there being...

We investigate how protectionist policies influence short-run economic growth. Our empirical strategy exploits an extraordinary tax scandal that gave rise to an unexpected change of government in Sweden. A free-trade majority in parliament was overturned by a protectionist majority in 1887. We...