The paper investigates cross-country differences in technology in a large sample of developed and developing economies over the 1990s. The empirical analysis indicates the existence of three technology clubs with markedly different levels of technological development: advanced, followers and...

This paper focuses on the dimensions shaping the dynamics of technology. We present a model where the knowledge stock of a country grows over time as a function of three main factors: its innovation intensity, its technological infrastructures and its human capital. The latter two variables...

A political-economy model is developed to explain why fiscal decentralization may have a non-monotonic effect on FDI inflows through endogenous policies. Too much fiscal decentralization hurts central government incentives, whereas too little fiscal decentralization renders the local governments...