In this paper economic growth is interpreted as a sequence of transitions between distinct growth regimes that countries visit with different frequencies. Countries featuring similar growth dynamics are endogenously grouped into three different clusters. The first cluster comprises successful...

Based on industry-level data of seventeen OECD countries we examine FDI as a potential channel for knowledge diffusion. We find that FDI-receiving countries benefit strongly from FDI-related knowledge spillovers. We do not find evidence for positive outward-FDI-related technology sourcing effects.