The literature on technological change and growth has mainly used econometric models to establish that factors, such as the degree of openness, skills, research and development expenditures, number of patents etc., are critical determinants of innovation and its effect on growth. However, this...

Modern economic development is accompanied by the structural transformation from an agrarian to an industrial economy and occurs through a process of continuous industrial and technological upgrading. Since the 18th century, all countries that industrialized successfully in Europe, North America...

Modern economic development is accompanied by the structural transformation from an agrarian to an industrial economy. Since the 18th century, all countries that industrialized successfully have followed their comparative advantages and leveraged the latecomer advantage, including emerging...