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...

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...

In this paper we consider the effectiveness of eco-labels as a substitute for alternative, but trade-restrictive, environmental policies. Specifically, while there are concerns that eco-labelling requirements increase the cost of international trade, due to their potential for misuse as...

We obtain time series estimates of the long run growth rates of 17 OECD countries, and test the hypothesis that these are the same across countries. We find that we cannot reject this hypothesis for the first and last three decades of the 20th century. We conclude that: (i) there are few, if...

Historically, episodes of rapid growth are accompanied by significant structural change. In this paper we therefore aim to quantify the extent to which factor accumulation induces structural change and productivity growth in industrializing economies. To fix ideas we present an extension of...

Barriers to investment are often regarded as an important determinant of the variation in international income levels. Nevertheless, in the standard neoclassical growth model, these barriers have only have small effects on per capita incomes. We consider the effects of barriers to accumulation...