Greece's currently planned institutional reforms will help to get the country going with limited economic growth. With an economy based primarily on tourism, trade, and agriculture, Greece lacks an established competitive industry and an innovation-friendly environment, resulting in a low export...

This paper discusses the role that finance plays in promoting the capital development of the economy, with particular emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital development" very broadly. We begin with the observation that...

This paper presents a model of international trade in differentiated intermediate goods. Because intermediates are invented through costly R&D investments, employing foreign intermediates implies sharing the return to R&D with the inventor country. We first derive how domestic productivity is...

In recent years, a large body of empirical research has investigated whether the predictions of secondgeneration growth models are consistent with actual data. This strand of literature has focused on the longrun properties of these models by using productivity and innovation data but has not...

Italy has yet to recover from the economic consequences of the financial and sovereign debt crisis that began more than a decade ago. In addition to losing 1.4 million jobs across the manufacturing and construction sectors, new industries driving growth across the EU, such as knowledge-intensive...

Italien hat sich gut zehn Jahre nach der Finanz- und Staatsschuldenkrise nicht von deren wirtschaftlichen Folgen erholt. Verantwortlich sind zum einen die traditionellen Wachstumstreiber Italiens, nämlich das verarbeitende Gewerbe und der Bausektor, die beide einen Rückgang von jeweils 700 000...

The bioeconomy-specific paradigm has changed the perception of economic growth in the sense that the growth limits do not matter, but new growth opportunities. These are focused on: knowledge, investment in research, innovation and technological performance, which give meaning to the concept of...

Die Digitalisierung hat mittlerweile sehr viele Wirtschaftsbereiche erfasst. In Zukunft wird sie - vorausgesetzt die Gesellschaft entscheidet sich dafür - die Wirtschaft noch stärker durchdringen. Der Autor findet sowohl wachstumsfördernde als auch wachstumsdämpfende Effekte. Die Entwicklung...

Capital-goods imports have become an increasing source of growth for the U.S. economy. To understand this phenomenon, we build a neoclassical growth model with international trade in capital goods in which agents face exogenous paths of total factor and investment-specific productivity measures....