Recent growth accounting studies of Hong Kong, Singapore, Taiwan and South Korea have found that the Solow residuals in these economies were relatively small. Given the high capital contributions, these results are often interpreted as evidence that factor accumulation, savings and investment...

We investigate the extent to which segmented labour markets in industrializing economies, generate productivity and GDP growth. The paper presents a Lewis type model in which an efficiency wage results in a productivity gap between the traditional and modern sectors. We find, first, that the...

Recent growth accounting studies of Hong Kong, Singapore, Taiwan and South Korea have found that the Solow residuals in these economies were relatively small. Given the high capital contributions, these results are often interpreted as evidence that factor accumulation, savings and investment...

This paper evaluates the effects of national and international eco-labelling programmes. It develops a model of consumer choice, where the production of an internationally traded commodity reduces the stock of a public ecological resource. In this model, eco-labels will result in damage levels...

Recent growth theory has focused on the role of human capital as a source of welfare gains in developing economies, rather than traditional sources such as improving resource allocation and physical capital accumulation. This paper examines traditional developing-country labor market problems in...

Numerous studies report the growth effects from labor reallocation in China to be in the order of 1–2 percentage points per year, which would appear to be a significant fraction of China's per capita income growth. We show that the total factor productivity gains are an order of magnitude...

This paper develops a model of growth in an economy where the capital stock is rationed across labor inputs, as in the dual, or segmented, labor market literature on developing economies. In this economy, the increased use of labor in the formal sectors can sustain high marginal and average...

This paper examines how relative factor endowments and population growth rates affect growth rates in less developed countries. To answer these questions an extension of the Uzawa-Lucas endogenous growth model is used. The paper proves the existence and uniqueness and of the modified model and...

To what extent did outbreaks of bubonic plague disrupt daily economic activity? We estimate the impact of epidemics on regional markets over four centuries – from the Black Death in the 14th th century, until the medieval form of the plague became extinct in the 17 th century. Despite the...

To what extent did outbreaks of bubonic plague disrupt daily economic activity? We estimate the impact of epidemics on regional markets over four centuries – from the Black Death in the 14th century, until the medieval form of the plague became extinct in the 17th century. Despite the extreme...