We depart from the empirical literature on testing the finance led growth. Instead of regression analysis, we use a semi-endogenous growth model, which identifies two productivity growth paths: a steady state and a transitional path. Steady state growth is anchored by population growth. In the...

Endogenous growth models based on micro-foundations predict that total factor productivity (TFP) growth is positively associated with effective research effort. We use macroeconomic-pooled time series-cross sectional data for the G7 countries from 2000 to 2017 to provide a robust estimate of...

We set up a theoretical framework to analyze the possible role of economic growth and technological progress in the erosion of social capital. Under certain parameters, the relationship between technological progress and social capital can take the shape of an inverted U curve. We show the...