The theory of endogenous technical change has deeply contributed to our understanding ofthe fundamental sources of economic growth and development. In this chapter we surveyimportant contributions in the field by focussing on the basic structure of endogenous growthmodels with horizontal as well...

In this paper we examine the sustainability of euro area public finances against thebackdrop of population ageing. We critically assess the widely used projections of theWorking Group on Ageing Populations (AWG) of the EU's Economic PolicyCommittee and argue that ageing costs may be higher than...

The issue of regulation and its adverse impacts upon small businesses has been noted by several organisations (Better Regulation Task Force, 1999, 2000a, 2000b, 2001; Small Business Council 2001, 2002, 2003, 2004; Small Business Service, 2004a). The recent ICAEW report on the 2004 Enterprise Survey...

This study explores the patterns of growth, acquisition and failure amongst a sample of UK small and medium sized enterprises (SMEs) over the period 1997-2002 using the 1997 panel data collected by the Centre for Business Research at Cambridge University. The research explores the determinants...

The government’s main objective in developing better regulation and policy is to reduce the regulatory burden on small businesses, particularly those which act as a barrier to start-up and growth, and improve the ability of small businesses to sell to the public sector.The purpose of this...

The long-run evolution of per-capita income exhibits a structural breakoften associated with the Industrial Revolution. We follow Mokyr (2002) and embedthe idea that this structural break reflects a regime switch in the evolution of technologicalknowledge into a dynamic framework, using Airy...

Long-run economic growth is analysed in a global model with many small countriesprone to national level total factor productivity shocks. The possibility ofprecautionary saving or dissaving is a function of the higher-order moments and thecross-moments of the factor income distributions, which...

This paper analyses a model of overlapping generations in which agents who do notparticipate in the labor market are unable to borrow. Thus an increase in a fullyfunded pension raises aggregate savings even with a fixed participation rate, sinceprivate savings are not crowded out one-for-one....

This paper investigates the growth factors of EU regions in the 1990s. We test the hypothesis that regional growth is determined by endogenous growth factors, trade and technological catching-up in a growth accounting framework....