proximate sources of labour productivity growth in 41 nations between 1929 and 1950 by decomposing productivity growth into four … capital accumulation. We show that efficiency catch-up generally explains productivity growth, whereas technological change …

This paper calculates Theil’s entropy index to measure the extent of productivity differences across 92 countries for … the period from 1970 to 2003. While there is evidence of increasing differences in productivity across these countries, we …. The results of our multivariate time series analysis also suggest that FDI increases productivity differences among low …

Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in … fully developed countries. An extension towards a two-region world economy shows robustness of the gradual take-off and …

through to long-run rates of per capita GDP growth, capital stock growth, and productivity growth. The data indicate that … associated with per capita growth, physical capital accumulation, and productivity growth …

focuses on the impact of R&D and patents on firms’ performance and productivity, we examine data on actual investment …This paper examines the impact of investments in modernization and innovation on productivity in a sample of firms in … amounts of employment and capital investment in North America and Europe. In contrast to much of the existing literature which …

We examine how credit constraints affect the cyclical behavior of productivity-enhancing investment and thereby … a long-term productivity-enhancing one. Because it takes longer to complete, long-term investment has a relatively less … volatility and growth. We first develop a simple growth model where firms engage in two types of investment: a short-term one and …

productivity catch-up. Evidence shows that countries with higher productivity growth rates export capital while countries with … lower productivity growth rates receive positive capital inflows. This is contradictory to the predictions of the …, our calibrated Schumpeterian growth model also predicts a positive correlation between capital inflows and productivity …

particular focus on the role played by financial frictions and investment dynamics. The paper provides two main contributions …. First, we empirically document that lower investment during financial crises is the key factor leading to permanent loss of … output and total factor productivity (TFP) in the wake of a crisis. Second, we develop a DSGE model with financial frictions …