The potential problem of reverse causality has been obvious to everyone. It has usually been met with the standard econometric dodge: using lagged values of slow-moving variables as instruments. But this cannot be a serious solution to the problem. The causality issue points to a deeper...

The aim of this paper is to situate the interplay between the politics and economics of the BJP regime in India. Following two decades of ostensibly “rapid growth,” the serial manipulation of economic statistics notwithstanding, the Indian economy's growth rate has now begun to slow to a new...

We provide aggregate macroeconomic evidence on how, in the long-run, a diverse degree of complexity in production may affect not only the rate of economic growth, but also the correlation between the latter, population growth and the monopolistic (intermediate) markups. For a sample of OECD...

An analytical solution to the lab-equipment growth model (Rivera-Batiz and Romer,1991) with an exogenous imitation rate is presented and applied to study the policy tradeoff between weaker levels of intellectual property rights (IPR) protection yielding more consumption today, and stronger...

This paper seeks to address shortcomings in the growth literature – neoclassical growth theory and growth accounting. Specifically, the paper reformulates our understanding of the process of technical change, so that we view Hicks- and Harrod-neutral technical change as consistent, inseparable...

This paper is an assessment of what we know about the political determinants of economic growth. It begins by setting out the stylized facts of economic growth. The paper suggests that there is a need to shift away from much of the previous literature's emphasis on the determinants of long-run...