According to Academic Ranking of World Universities, the world’s top 500 universities are owned by only 38 countries, with the US alone having 157 of them. This paper investigates the socioeconomic determinants of the wide performance gap between countries and whether the US’s dominance in...

Chambers and Quiggin (2000) have used state-contingent production theory to establish important results concerning economic behaviour in the presence of uncertainty, including problems of consumer choice, the theory of the firm, and principal-agent relationships. Empirical application of the...

This paper estimates with the least trimmed least squares (LTS) a specification suitable to estimate the permanent growth effects of human capital, using educational attainment (H) as a proxy. Our results show that H has significant permanent growth effects but these are much smaller than in...

This article estimates using the Bayesian methods a Constant Elasticity of Substitution (CES) production function for Singapore for 1960--2009. It is found that the elasticity of substitution is 0.6, technical progress is labour augmenting and the Steady-State Growth Rate (SSGR) of Singapore is...

In this article we model production technology in a state-contingent framework. Our model analyzes production under uncertainty without being explicit about the nature of producer risk preferences. In our model producers’ risk preferences are captured by the risk-neutral probabilities they...

This paper estimates with the Bayesian methods a CES production function for Singapore for 1960-2009. It is found that the elasticity of substitution is 0.6, technical progress is labour augmenting and the steady state growth rate of Singapore is about 1.8%.