In this paper we study the dynamics of economic growth for 140 countries during the period 1951-2003. The variables representing economic performance are levels and growth rates of per capita GDP. Using the concept of economic regime, we introduce a notion of distance between the dynamical paths...

This paper aims to describe, identify underlying factors and seek explanations for South Africa's economic recovery since 1994, as evidenced by trends in growth and investment. Compared with an international peer group, the initial conditions for a dramatic growth recovery were inauspicious in...

[enter Abstract Body]In this chapter, we review the recent and growing literature on medium-term growth patterns. This strand of research emerged from the realization that for most countries economic development is a highly unstable process; over a few decades, a typical country enjoys periods...

This research explores the effects of culture on technological diffusion and economic development. It shows that culture's direct effects on development and barrier effects to technological diffusion are, in general, observationally equivalent. In particular, using a large set of measures of...

Economic development, which refers to the process of progressive transformation of an economy, is a multifaceted term without a universal definition. This article presents the constitutive elements of economic development, such as growth, distribution, and innovation. Economic development has...

A growing body of empirical research highlights substantial changes in the US economy during the last three decades. Business dynamism is declining, market power seems to be on the rise, and aggregate productivity growth is sluggish. We show analytically that a decline in the rate of growth of...

The current thesis aimed at exploring the bidirectional relationship between political instability and economic growth in Egypt during the period (1982-2016). Additionally, the study analyzed the political instability in Egypt during the aforementioned period to determine the crucial factors...

Singapore's remarkable success in economic development has been strongly associated with the country's vigorous efforts to embrace the Information and Communication Technology ICT revolution to promote economic growth. This study provides a comprehensive investigation of the contributions of ICT...

Over the last decade, a growing body of literature dealing with the phenomenon of the “middle-income trap” (MIT) has emerged. The term MIT usually refers to countries that have experienced rapid growth and thus reached the status of a middle-income country (MIC) in a considerably short...

One of the key determinants of potential growth are productivity gains. Total factor productivity (TFP) differences are the main determinant of per capita income differences between countries. A key factor to understand TFP is misallocation: the aggregate productivity loss from microeconomic...