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We examine how inequality and openness interact in shaping the long-run growth prospects of developing countries. To …. We show that inequality affects growth very differently in an open economy as opposed to a closed economy: If the economy … is close to the technological frontier, the positive demand effect of inequality on growth found in closed-economy models …
Persistent link: https://www.econbiz.de/10013244297
Empirical evidence shows that R&D spending is highly correlated with firm productivity, highly concentrated among large firms, and responsive to trade liberalization. This paper develops a model of product upgrading with heterogeneous firms that captures these characteristics by allowing firms...
Persistent link: https://www.econbiz.de/10013129071
techies in 2002 saw greater polarization, and grew faster, from 2002 to 2007. Offshoring reduced employment growth. Among blue …
Persistent link: https://www.econbiz.de/10012987341
Recent econometric analyses of growth in industrialized countries reveal that energy?s elasticity of production …
Persistent link: https://www.econbiz.de/10010263196
economic leadership has heated up, with risks of decoupling that could set back trade and growth and hinder the recovery from …
Persistent link: https://www.econbiz.de/10013252019
This paper offers the first systematic historical evidence on the role of a central actor in modern growth theory - the … engineers diverged in their growth trajectories over the next century. The results are supported by historical case studies from …
Persistent link: https://www.econbiz.de/10011602763
, innovation. Using a Schumpeterian growth model in which firms' dynamic R&D and financing choices are endogenously determined, we … demonstrate that this second effect always dominates, so that debt fosters innovation and growth at the aggregate level. Our paper …
Persistent link: https://www.econbiz.de/10012179627
standard unified growth model. We measure inequality by the ratio between land rent and wages and show that, before the onset … of the fertility transition, technological progress increased inequality directly through land-biased technological … change and indirectly through increasing population growth. Thefertility transition and the child quantity-quality trade …
Persistent link: https://www.econbiz.de/10012204880
The paper proposes a two-country general equilibrium model of endogenous growth and trade between two regions, North …
Persistent link: https://www.econbiz.de/10013069337
It is in the nature of technological advance to centralize control over production and divorce it from the consumer, placing the consumer at the mercy of the producer. For most of human history, the fight for consumer rights was a fight for democracy, because the state is the ultimate...
Persistent link: https://www.econbiz.de/10014254110