This paper compares the determinants of economic growth and welfare growth. Our main result is that determinants may differ or have different impact on welfare outcomes as compared to economic outcomes. Human capital plays a bigger role in determining the former, so that policies targeting human...

The study uses aggregate and manufacturing sector data for a group of ten OECD countries for the period 1971 to 1995 to estimate a system of two equations implied by a model of R&D-induced growth in steady state. These equations relate R&D intensity to productivity growth and the latter to...

This paper evaluates various channels through which foreign technology diffuses to the manufacturing sector of developing economies. These economies carry out virtually no own R&D so they rely on foreign technology to a much larger extent than developed economies. We investigate the direct...

This paper evaluates various channels through which foreign technology diffuses to the manufacturing sector of developing economies. These economies undertake virtually no own R&D, so they rely on foreign technology to a much larger extent than developed economies. We investigate the direct...