This paper proposes a theory for the evolution of knowledge diffusion and growth over the very long run. A feedback … mechanism between capital accumulation and knowledge spillovers creates a unified growth theory that explains a long epoch of … explain the Great Divergence, the failure of less developed countries to attract capital from abroad, the productivity …

This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A … Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in … fully developed countries. An extension towards a two-region world economy shows robustness of the gradual take-off and …

This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A … Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in … fully developed countries. An extension towards a two-region world economy shows robustness of the gradual take-off and …

This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A … Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in … fully developed countries. An extension towards a two-region world economy shows robustness of the gradual take-off and …

This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A … Great Divergence, the failure of less developed countries to attract capital from abroad, and a productivity slowdown in … fully developed countries. An extension towards a two-region world economy shows robustness of the gradual take-off and …

models suggest that a shortfall in productivity-enhancing investments temporarily slows technological progress, creating a …-level exposure to the 2008-9 financial crisis, I show that tight credit reduced investments in productivity-enhancement, and has … 12% higher today if productivity-enhancing investments had grown at pre-crisis rates. …