[From the introduction]. Institutional and ideological influences are not as important as they might seem at first glance. Seen from Bologna, there are good reasons to doubt the mainstream critique of European macroeconomic governance. Probably the most important is the bias in the conventional...

This paper discusses some of the recent developments in growth theory, doing so from the perspective of a small open economy. After setting out a basic generic model, we show how it may yield two of the key models that have played a prominent role in the recent literature, the endogenous growth...