While understood as the essence of long-run economic growth, existing conceptions of technical change nonetheless tend to be “unbelievable” and antiquated in relation to our present state of scientific knowledge. This paper views technical change as the remixing of the most fundamental...

This paper formulates a novel growth accounting framework that attempts to achieve several objectives. The first is to build a bridge between growth accounting and growth theory by resolving their asymmetric interpretations of technical change and the fundamental “sources” of growth. This...

This paper examines how industrial policy - specifically tariff liberalization and tax subsidies - affects the magnitude and direction of FDI spillovers. We examine these spillover effects across the diverse ownership structure of China's manufacturing sector. Using this approach, we control for...

This paper uses a Nash bargaining framework to model the causes of the partial reform equilibrium syndrome that characterizes China's state sector. The model demonstrates the nature of the bargain between the principals (i.e., officials from China's State Asset Council) and the agents (large-SOE...

This paper examines how industrial policy - specifically tariff liberalization and tax subsidies - affects the magnitude and direction of FDI spillovers. We examine these spillover effects across the diverse ownership structure of China's manufacturing sector. Using this approach, we control for...