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An error correction model (ECM) of induced innovation, based on the two-stage CES production function allows direct tests of the inducement hypothesis, which are applied to U.S. data for 1880–1990. The time series properties of the variables include a structural break in 1920, cointegration is...
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This invaluable collection compares the relatively unsuccessful economic development of Subsaharan Africa with that of the successful Asian economies, especially the Asian 'tigers'. It covers three main areas of comparison: the lessons for Africa from the Asian experience; secondly, the...
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