We conduct a comprehensive study of macroeconomic modeling methods, new theories of economic growth and the impact of technology and institutions on economic growth, in order to formulate the basic characteristics that are critical for efficient technological and institutional effects modeling....

In this paper we ask how technological differences in manufacturing across countries can best be modeled when using a standard production function approach. We show that it is important to allow for differences in technology as measured by differences in parameters. Of similar importance are...

This paper attempts to establish a formal relationship between innovation and productivity using Colombian firm-level data. It is found that the production of goods and services new to the firm and to the domestic market enhances firms` sales per worker, and innovation that results in...

The Great Recession has inspired renewed interest in analyzing the behaviour of the economy during recession episodes, and how these temporary events can shape the productive structure of the economy for long periods. Most of the existing literature focuses on recessions at the aggregate level....

Despite the widely recognised importance of the manufacturing industry for successful development few studies investigate this sector in cross-country analysis. We fill this gap in the literature by analysing manufacturing production across a large number of developing and developed economies....

The service sector is the largest and fastest growing sector in India and has the highest labor productivity, but employment has not kept pace with the share of the sector in gross domestic product and has not produced the number or quality of jobs needed. There is no policy leading to inclusive...

The development of the service sector in the People’s Republic of China has not kept pace with the country’s overall economic development. The share of employment in services is still lagging behind that of output and is also below the international norm. Moving from traditional services to...

How do new firms contribute to industry productivity growth at the time of entry and then subsequently over their lifecycle? We analyze this question using a lifecycle decomposition approach and Finnish business-level microdata. New entrants have a negative effect on industry productivity growth...

Currently, there are almost no sectors, functions or elements of the economy which are not affected by qualitative changes related to the conditions of information society. The pivot of this society is knowledge, learning, intellectual capital and innovation. Moreover, the emergence of different...

Maintaining a weak real exchange rate is a widely recommended growth strategy, in part because of the success of Asian exporters, most recently China. Simulations of a simple two-sector open economy growth model based on Matsuyama (1992) suggest that a weaker real exchange rate can lead to a...