This paper re-estimates the constant-elasticity-of-substitution (CES) specification of aggregate production function using newly constructed annual data on physical and human capital stocks for a panel of 134 countries observed over the period 1960-2011. In our estimation, we allow parameters to...

The manufacturing industry plays a key role in ensuring long-term and sustainable economic development. Although the impact of the service and information technology sectors on economic growth has increased recently, reindustrialization trends have appeared especially in developing and...