FDI has received surprisingly little attention in theoretical and empirical work on openness and growth. This paper presents a theoretical growth model where MNCs directly affect the endogenous growth rate via technological spillovers. This is novel since other endogenous growth models with...

We construct a model that combines elements of endogenous growth with the convergence implications of the neoclassical growth model. In the long run the world growth rate is driven by discoveries in those economies that lead in their use of technology. Followers converge towards leaders because...

We examine the dynamics of ideas production and knowledge-productivity relationship in a panel of 19 OECD countries. A new data set of triadic patents is used. We rigorously address the issues of cross-country heterogeneity and endogeneity. Domestic and foreign ideas stocks exert positive but...

Cuadernos de Economía has been published since 1963. During these 35 years a large part of the articles have dealt with the Chilean economy. The purpose of this paper is to analyze some important aspects of the Chilean economy, as they have been viewed th

The determinants of economic growth and investment are analyzed in a panel of around 100 countries observed from 1960 to 1995. The data reveal a pattern of conditional convergence in the sense that the growth rate of per capita GDP is inversely related to

This paper is differentiated from most previous studies in that it uses intra-ASEAN's (of the 5 founding counties) historical data and it assesses both exports and the export-GDP nexus by isolating the following three different historical policy interventions: the introduction of Preferential...

The hallmark of the recent development and growth literature is a quest to identify institutions that explain a significant portion of the observed differences in living standards across countries. Empirical work in the area focuses almost exclusively on either the global sample or on developing...

This paper studies the effects of the key economic reforms of 1991 on the Indian manufacturing industries using a panel of manufacturing industries. A Translog cost function is used to analyze the production structure in terms of biased technical change and economies of scale. A panel consisting...

This paper analyzes the welfare effect of illegal immigration on the host country within a dynamic general equilibrium framework and shows that it is positive for two reasons. First, immigrants are paid less than their marginal product and second, following an increase in immigration, domestic...

This paper studies an agent-based model that bridges Keynesian theories of demand generation and Schumpeterian theories of technology-fueled economic growth. We employ the model to investigate the properties of macroeconomic dynamics and the impact of public polices on supply, demand and the...