It is generally accepted that Western Europe's exceptional economic performance in the so-called "Golden Age" (1950-73) was primarily due to a catch-up process as countries combined their surplus labour with imported American technology to (partially) close the gap in per capita incomes with the...

A number of studies have concluded that, contrary to expectations, European monetary union has not reduced income disparities among the 12 Western European member countries. In fact, incomes per capita between Southern and Northern Eurozone members have diverged since the Eurozone was created,...

A number of studies have concluded that, contrary to expectations, European monetary union has not reduced income disparities among the 12 Western European member countries. In fact, incomes per capita between Southern and Northern Eurozone members have diverged since the Eurozone was created,...

The authors examine how the economic interactions between rapidly emerging China and the rest of the world may evolve over the coming two decades. They discuss China's growth potential, drawing a parallel between China's rise and the historical rise of Britain, Japan and the United States....

China is located in East Asia and, just as Japan, Taiwan or (South) Korea at earlier stages of their development, has now grown very rapidly for some three decades. That is not enough, however, for it to qualify for membership of the club. The East Asian development model has a number of...

This paper studies the influence of"high technology"on the growth of output by using cross-section data on U.S. states. An eclectic approach to the"sources-of-growth"literature leads to the estimate of a"base"equation which explains about half of the differences in per capita GSP growth rates of...

Over the last six decades, economic developments in the three countries that were defeated in World War II look strikingly similar. First came rapid reconstruction. Then followed the economic miracles of the Golden Age. The years that went from the first oil shock to the mid-1990s still saw...

The projections for economic growth in the industrial countries during 1985-95 have been revised steadily downward - to a pessimistic 2.5 percent a year. The crucial element in achieving high growth rates is a rising rate of investment, itself a reflection of confidence in the economy. The...

Over the last six decades, economic developments in the three countries that were defeated in World War II look strikingly similar. First came rapid reconstruction. Then followed the economic miracles of the Golden Age. The years that went from the first oil shock to the mid-1990s still saw...