This paper follows Jones (2005) in his approach to deriving the global production function from microfoundations. His framework is generalized by allowing for dependence between the Pareto distributions of labor- and capital-augmenting developments. Using the Clayton copula family to capture...

The manufacturing industry plays a key role in ensuring long-term and sustainable economic development. Although the impact of the service and information technology sectors on economic growth has increased recently, reindustrialization trends have appeared especially in developing and...