We study a quality-ladder model of endogenous growth that produces stochastic leadership cycles. Over a cycle, industry leaders can innovate several successive times in the same industry, gradually increasing the magnitude of their technological lead before being replaced by a new entrant....

Economies governed by former economics students grow faster than economies governed by leaders with other education backgrounds; a result which is most evident for presidents. Faster growth (average growth) occurs during an economic leader's first year (entire tenure), primarily through...

Self interest is the invisible hand that controls the political, social and economic corrupt trends in Nigeria. There are deviation and diversions of interests. Leadership in Nigeria becomes bedeviled with depravity; reliability deteriorates while the populace wallows in hunger and decadence. No...

Self interest is the invisible hand that controls the political, social and economic corrupt trends in Nigeria. There are deviation and diversions of interests. Leadership in Nigeria becomes bedeviled with depravity; reliability deteriorates while the populace wallows in hunger and decadence. No...

National leaders, especially in autocratic countries, are often recognized as having significant effects on economic growth. However, existing methods have not credibly obtained reliable individual estimates of such effects. In order to identify the so-called leader effect, we adopt a synthetic...

Many parameters such as tax rate and interest rate have been correlated with economic growth with varying degrees of success. However, quality of political leadership is often not a numerical or categorical parameter in modeling economic growth of a nation even though a stable and thoughtful...

I construct an endogenous growth model where R&D is carried out at the industry level in a game of innovation between leaders and followers. Innovation costs for followers are assumed to increase with the technological lag from leaders. We obtain three results that contrast with standard...

We study a quality-ladder model of endogenous growth that produces stochastic leadership cycles. Over a cycle, industry leaders can innovate several successive times in the same industry, gradually increasing the magnitude of their technological lead before being replaced by a new en-trant....