This paper examines the recent literature on economic growth with a focus on policy issues and evidence relevant to OECD countries. The review begins with an overview of developments in the theory of economic growth and also comments generally on the nature of evidence exploring the influences...

This paper examines the recent literature on economic growth with a focus on policy issues and evidence relevant to OECD countries. The review begins with an overview of developments in the theory of economic growth and also comments generally on the nature of evidence exploring the influences...

The relation between the "informational quality" of financial systems and economic development is assessed for 21 OECD and 34 emerging market economies (EMEs) following Asia's 1997-98 crisis. Institutional economics suggest that the heart of any financial system is its...

This paper surveys recent empirical studies exploring aggregate productivity growth based on firm dynamics, focusing on micro-data from OECD countries. Aggregate productivity growth can be analysed as a sum of two separate processes. i) Changes in productivity in individual firms at a given size...

As it takes time and effort to learn how to fully utilise new technology and realise its maximum potential productivity gain, adoption of new technology tends to reduce productivity temporarily, even though the potential productivity gain in the long run outweighs this short run loss. This paper...

This paper reviews recent studies on the links between competition, innovation and productivity growth in the long run. From a long-run perspective, one can see that gains from competition-enhancing regulatory reform are likely to exceed static gains observed in the short run since firms will...