Would economic growth be better if population growth were slower? There are two apparently opposite answers to this question. Advocates of policies to reduce population growth rates are completely convinced by the common sense view that rapid population growth greatly hurts economic growth...

The authors suggest that there are important opportunities to empirically evaluate the theoretically predicted channels from policy to growth. They propose a research agenda based on the endogenous growth literature, designed to address the questions: How do national policies affect long-run...

Loening investigates the impact of human capital on economic growth in Guatemala during 1951-2002 using an error-correction methodology. The results show a better-educated labor force having a positive and significant impact on economic growth. Consistent with microeconomic studies for...

Except during the Great Depression, the historical path for per capita Gross Domestic Product (GDP) in the United Stateshas been reasonably stable exponential trend growth, with modest cyclical deviation. Graphically, growth in the United States displays as a modestly sloping, only slightly...

The authors reexamine the role of financial market development in the intersectoral allocation of resources. First, they characterize the assumptions underlying previous work in this area, in particular, that of Rajan and Zingales (1998). The authors argue that Rajan and Zingales (1998)...

Cross-national data on economic growth rates show that increases in educational capital resulting from improvements in the educational attainment of the labor force have had no positive impact on the growth rate of output per worker. In fact, contends the author, the estimated impact of growth...

The authors present real per capita GDP growth forecasts for all developing countries for the period 2005-14. For 55 of these countries, representing major world regions and accounting for close to 80 percent of the developing world's GDP, they forecast the growth effects of the main forces...

Soviet growth for 1960-89 was the worst in the world, after controlling for investment and human capital. And relative performance worsens over time. The authors explain the declining Soviet growth rate from 1950 to 1987 by the declining marginal product of capital. The rate of total factor...

The authors present a model of endogenous growth in which the main engine of economic development is knowledge. Using a two-sector closed economy model that comprises of a conventional goods-producing sector and a research and development sector, their model incorporates two key aspects of...

Joseph Schumpeter argued in 1911 that the services provided by financial intermediaries - mobilizing savings, evaluating projects, managing risk, monitoring managers, and facilitating transactions -stimulate technological innovation and economic development. The authors present evidence that...