Knowledge, lacking weight and other physical attributes and being intangible, is a hidden factor of production, making economies grow "weightless." But knowledge is also embedded in technology. If, because of low productivity, poor countries keep buying low-technology machines, will they remain...

The authors examine the impact on productivity of technologies imported by a sample of developing, and transition economies in Central and Easter Europe, and the Southern Mediterranean - economies becoming increasingly integrated with the European Union. They depart from earlier studies of...