Frontmatter -- Contents -- List of Participants -- Preface -- THE SETTING FOR A PRO-GROWTH STRATEGY: AN INTRODUCTION -- 1. RESPONSES TO THE SLOWDOWN IN GROWTH -- 2. REMOVING STRUCTURAL BARRIERS TO GROWTH -- 3. THE ECONOMIC POLICY FAILURE OF THE PAST AND A POLICY AGENDA FOR THE FUTURE -- 4. THE...

What is the economic rationale for investing in science? Based on an open economy model of creative destruction, we characterize four key factors of optimal investment in basic research: the stage of economic development, the strength of the manufacturing base, the degree of openness, and the...