This paper provides a dynamic model of the dual economy in which differences in productivity across sectors arise endogenously. Rather than relying on exogenous price distortions, duality arises because of differences between sectors in the separability of their fertility and labor decisions....

The development of the financial system is shown, both historically and in contemporary data, to be adversely affected by inequality in the distribution of land. To accommodate these empirical findings, a theory is developed that highlights the incentives of landowners to oppose competition in...

This paper examines the role of inequality in the provision of public goods. County level data from the U.S. in 1890 provides comparable units of analysis operating with similar property tax systems, ensuring that we do not empirically confuse differences in tax systems with differences in...

The development of the financial system is shown, both historically and in contemporary data, to be adversely affected by inequality in the distribution of land. To accommodate these empirical findings, a theory is developed that highlights the incentives of landowners to oppose competition in...

In this paper we investigate a `global' production function for agriculture, using FAO data for 128 countries from 1961-2002. Our review of the empirical literature in this field highlights that existing cross-country studies largely neglect variable time-series properties, parameter...

Since the seminal contribution of Gregory Mankiw, David Romer and David Weil (1992), the growth empirics literature has used increasingly sophisticated methods to select relevant growth determinants in estimating cross-section growth regressions. The vast majority of empirical approaches however...

In this paper we ask how technological differences in manufacturing production across countries can best be modeled when using a standard production function approach. We emphasise the importance of allowing for differences in the impact of observables and unobservables across countries, as well...

This paper uses Monte Carlo simulations to investigate the impact of nonstationarity, parameter heterogeneity and cross-section dependence on estimation and inference in macro panel data. We compare the performance of standard panel estimators with that of our own two-step method (the AMG) and...

This paper uses Monte Carlo simulations to investigate the impact of nonstationarity, parameter heterogeneity and cross-section dependence on estimation and inference in macro panel data. We compare the performance of standard panel estimators with that of our own two-step method (the AMG) and...

In this paper we ask how technological differences in manufacturing across countries can best be modeled when using a standard production function approach. We show that it is important to allow for differences in technology as measured by differences in parameters. Of similar importance are...