In aggregate models, costs that penalise changes in investment - investment adjustment costs - have been introduced to help account for a variety of business cycle and asset market phenomena. In this paper, we evaluate empirical evidence for these types of costs using US and UK industry data. We...

"In aggregate models, costs that penalise changes in investment--investment adjustment costs-- have been introduced to help account for a variety of business cycle and asset market phenomena. In this paper, we evaluate empirical evidence for these types of costs using US and UK industry data. We...

We estimate the rate of total factor productivity growth in Indian manufacturing industry for the period 1973-1992, and compare the results to those obtained by Young for the East Asian Tigers. We then interpret our results in light of Krugman's hypothesis that, because the Asian Miracle was...

This paper uses a new industry-level dataset to quantify the roles of structural change and information and communication technology (ICT) in explaining productivity growth in the United Kingdom, 1970-2000. The dataset is for 34 industries covering the whole economy, of which 31 industries are...

This analysis of Indian data reveals substantial externality effects from the states' infrastructure to manufacturing productivity. In the 20 years from 1972 to 1992, growth of road and electricity generating capacity seems to have accounted for nearly half the growth of the productivity...

If infrastructure tends to generate spillover externalities, as has been the assumption in much of the development literature, one may reasonably look for evidence of such indirect effects in the accounts of manufacturing industries. Empirical support for this assumption has so far been...