Despite the widespread popularity of the Solow growth model, much of the recent empirical work based on the classic framework misrepresents a crucial feature of the model. Namely, the growth rate of technological progress, assumed to be exogenous in the Solow model, is often identified as being...

This paper analyzes the implication of employment protection legislation on a firm's screening process. We present a model in which human-capital-intensive firms (high-tech) with imperfect information about their workers' type attempt during a trial period to identify those incompetent workers...

This brief note was prepared for the State Planning Board of Kerala in India in response to a question on how to double Kerala’s net state domestic product in three years and on its implications for investment and its financing. We show that this ambition lies in the realm of impossibles.

The collapse of the communist system during the late 1980’s redefined the hierarchy among Central and Eastern European Countries (CEECs) and the former USSR. Some of these countries joined the EU ; some did not ; others formed the CIS . In particular, institutions, mainly market and political...

This paper argues that the introduction of compulsory schooling in early industrialization promoted the growth process that eventually led to a vicious cycle of population aging and negative pressure on education policy. In the early phases of industrialization, public education was undesirable...

At the time when this paper was written, the latest nationally representative survey implemented in Nigeria dated back to 1996, and the available estimations suggested that two thirds of the population was poor. This high level of poverty was due in large part to macroeconomic volatility that...

This paper empirically investigates the impact of trade and financial liberalization on economic growth in Pakistan using annual observations over the period 1961-2005. The analysis is based on the bound testing approach of cointegration advanced by Pesaran et al (2001). The empirical findings...

The aim of this paper is to analyse in a more qualitative way the role of institutions in transitional countries in the CEECs and CIS. The main question we address is: what kind of institutional arrangement leads to Human development? We propose an analytical pattern where global performance...

This Paper explains the causes of the Gender Inequality of education and analyze how the gender inequality in education impacts the economic growth & development, investment and population growth etc. The paper finds that the gender inequality in education is as an endogenous variable and show...

Theoretical and empirical literature have focused on supply factors when studying economic growth determinants. The present work analyzes demand factors as determinants of the Bolivian economic growth between 1953-2002 using framework introduced by Thirlwall (1979). According to cointegration...