Externalities play a central role in most theories of economic growth. We argue that international externalities, in … particular, are essential for explaining a number of empirical regularities about growth and development. Foremost among these is … that many countries appear to share a common long run growth rate despite persistently different rates of investment in …

information technology (IT) on economic growth. A consensus has emerged that the remarkable behavior of IT prices provides the key … to the surge in U.S. economic growth after 1995. The relentless decline in the prices of information technology equipment … (2000), “The contribution of information and communication technology to output growth: A study of the G7 Countries …