In this paper, we critically assess the contribution of Field (2007) in this issue. The author casts some doubts concerning the exceptionality of the 20th century as experiencing 'growth in the era of knowledge based progress', using new quantitative evidence on the TFP growth on the period...

This article aims at highlighting the relevance of the Efficient Market Hypothesis versus rational bubbles hypotheses in order to account for the Belgian financial history since 1837. We use unit roots and cointegration techniques (following the works of Diba and Grossman [1988] and Dwyer and...