We review the literature that links institutions, entrepreneurship, and economic growth outcomes, focusing in particular on the empirics of the links between these. Most of this literature has an economics orientation, but we also review relevant literature from other social science and from...

This paper presents a neoclassical-growth model in which long-run growth is driven by the continuous specialization of capital. The specialization of capital is the allocation of capital into sets of specialized capital and the coordination required for different individuals to use the same set...

This paper discusses in a systematic and comprehensive way the existing literature on the relationship between the growth of countries` economies and various public finance instruments, such as tax policy, expenditure policy, and overall budgetary policy, from the perspectives of allocative...

This policy paper is part of a discussion series on subject of growth and economic performance at the New Zealand Ministry of Economic Development in 2004. It provides a brief view of growth and social change taken from the perspective of market process theory in order to establish the following...

In this study, the relationship between population, elderly population and economic growth is analyzed theoretically, taking into account the demographic change of the Bulgarian population and the more aging phenomenon. Thus, the change in the age structure of the Bulgarian population was...

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...

While there is little doubt that innovations drive economic growth, their effects on well-being are less clear. One reason for this are ambivalent effects of innovations on well-being that result from pecuniary and technological externalities of innovations, argued to be inevitable. Another...

We argue that with interdependent utility functions growth can lead to a decline in total welfare of a society if the gains from growth are sufficiently unequally distributed in the presence of negative externalities, i.e., envy