In the first part of this paper the effects of trade cycles on economic growth are discussed to test the hypothesis of autocatalytic trade cycles, which indicates that more innovation is produced in countries that are a part of these cycles. Using United Nations data, a trade network is...

In this paper, we study human capital effects on economic growth of Portugal from 1960 to 2001. By using VAR and cointegration analyses, we obtain 0.42 long-run estimate for human capital elasticity, 0.30 long-run estimate for internal knowledge elasticity, and 0.40 long-run estimate for the...

The present model is essentially Romer’s (1990) model of endogenous growth with intertemporal knowledge externalities, augmented with contemporaneous knowledge externalities to give a richer explanation of the growth process. Both types of knowledge spillovers seem essential to capturing the...

The present paper takes a geometric approach to characterize the competitive forces behind innovation and dynamic general equilibria determination in the model of growth through creative destruction constructed by Aghion and Howitt (1992). All can be comprehended intuitively from the geometric...