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We estimate the rate of total factor productivity growth in Indian manufacturing industry for the period 1973-1992, and compare the results to those obtained by Young for the East Asian Tigers. We then interpret our results in light of Krugman's hypothesis that, because the Asian Miracle was...
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We extend the conventional Solow growth accounting model to allow innovation to affect consumer welfare directly. Our model is based on Lancaster’s New Approach to Consumer Theory, in which there is a separate “consumption technology� that transforms the produced goods,...
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quot;What is a company really worth?quot; is a question asked repeatedly during the recent financial crisis. Attention has been focused on short-term valuation issues, like the quot;mark-to-marketquot; controversy. Sorting out these issues is complicated by the fact that the market puts a value...
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