A growth accounting and an econometric exercise are used to provide insights into the evolution of the Taiwanese economy over the period 1966-96. The approach links the GDP function of a multiple sector neoclassical growth model to growth accounting and, subsequently to the estimation of the...

Using an endogenous growth framework, this paper analyzes the impact of lobbying for public goods on the long run steady-state growth rate of the economy. A socially optimal level of lobbying can be found to exist in the absence of a social planner. Atomistic households, however, exceed this...

This paper focuses on the private and social rates of return to R&D capital in the three vertically linked sectors, primary agriculture, food processing, and farm machinery and equipment. Evidence supporting a divergence between these rates is found for primary agriculture and food processing....

Does democratization imply faster growth, less corruption and less inefficiency? Past studies yield ambiguous results on the effects of democracy on economic performance and growth. We develop a simple two-sector endogenous growth model that shows both very young and mature democracies grow...