Understanding the determinants of the location of MNE affiliates has become increasingly important for policy makers at the local, regional, national, and supra-national level, as investment promotion schemes are increasingly seen as an important cornerstone of the industrial development of most...

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The explanation of twin peak empirics through multiple-steady-state growth models has one serious implication: Whenever a model generates twin peaks in GDP per capita it also generates twin peaks in other variables. We check for some multiple steadystate models whether or not they have twin...

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In this paper we develop a simple neoclassical growth model with perfect internationalcapital mobility to analyze the international debt dynamics of developing countries ingeneral and Korea, Malaysia and Thailand in particular. We show that three differentregimes can be distinguished: a stable...

Under the standard neo-classical growth framework, conditional convergence studies assume that a country with a higher initial human capital among others ''performs'' better. Nevertheless the growth implications of health, another component of human capital, compared to education, have not been...

For a long time economists have tended to ignore health as a relevant factor of production and important determinant of economic growth. The widely observed positive relationship between health expenditures and economic growth was considered the result of a strong positive income effect....

Policy formation is only one the three main components in the continuum of policy formation – policy implementation – policy evaluation – policy formation. To fully understand why policy outcomes often fall significantly short of policy intentions we need to examine the structuring...

This research develops a theory and presents empirical evidence of a link between economic outcomes and genetic evolution. Important properties for successful analysis of such a link are found in the adaptive immune system and particularly in the major histocompatibility complex (MHC), a...