This study proposes a new mechanism for the resource curse: crowding-out of innovation due to the existence of an option to engage in conflict. Using a game theoretical framework, it is argued that an increase in the amount of natural resources (in the informal sector where conflict for a...

Research in development economics reveals that the bulk of cross-country differences in economic growth is attributable to differences in productivity. By some accounts, productivity contributes to more than 60 percent of countries’ growth in per capita GDP. I examine a particular channel...

Research in development economics reveals that the bulk of cross-country differences in economic growth is attributable to differences in productivity. By some accounts, productivity contributes to more than 60 percent of countries’ growth in per capita GDP. I examine a particular channel...

We study a broad sample of firms across 32 countries and find that strong shareholder protections and better access to stock market financing lead to substantially higher long-run rates of R&D investment, particularly in small firms, but are unimportant for fixed capital investment. Credit...

We analyze recent contributions to growth theory based on the model of expanding variety of Romer [Romer, P. (1990). “Endogenous technological change”. Journal of Political Economy 98, 71–102]. In the first part, we present different versions of the benchmark linear model with imperfect...

The introduction of digitalization and the promotion of eco-innovation, the move towards financial development, and the appearance of alternative financial practices such as crowdfunding as well as the adoption of freer economic systems represent plausible enablers of the sustainable transition...

The objective of this study is to examine the relationship among different sources of renewable energy, role of technology, environment protection and economic growth. This study uses panel annual data set of selected BRICS countries from 1997 to 2019. This study uses the Augmented Mean Group...

This study proposes a new mechanism for the resource curse: crowding-out of innovation due to the existence of an option to engage in conflict. Using a game theoretical framework, it is argued that an increase in the amount of natural resources (in the informal sector here conflict for a...