The institutional perspective of cross-country differences in economic outcomes gives contrasting explanations on the persistence of inefficient institutions in developing countries. Colonization, social fragmentation and the existence and use of natural resources are the most frequently...

We propose a model consistent with two observations. First, the tax rates adopted by different countries are generally uncorrelated with their growth performance. Second, countries that drastically reduce private incentives to invest, severely hurt their growth performance. In our model, the...

An endogenous growth model, which links pollution to ineffective input-use, is developed to examine the potential for achieving balanced growth while preserving the environment through investment in conservation capital. We derive conditions under which individual preferences for environmental...

We provide a theoretical description of a process that is capable of generating growth and income convergence among economies, and where freer trade has persistent, positive effects on productivity, beyond the standard efficiency gains due to reallocation effects. We add to a standard Ricardian...

This paper studies the effect of innovation uncertainty on the concomitant time path of firm valuations, technology adoption and growth in a setting which incorporates positive network externalities. The resulting stock market bubble, induced by uncertainty and accelerated by the externality...

We provide empirical evidence of the dynamics of city size distribution for the whole of the twentieth century in U.S. cities and metropolitan areas. We focus our analysis on the new cities that were created during the period of analysis. The main contribution of this paper, therefore, is the...

We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A key feature is the selection between high- and low-type firms, which differ in terms of their innovative capacity. We estimate the parameters of the model using detailed US...

We examine the factors behind Afghanistan's persistent underdevelopment. Drawing on various theories of development traps operating at the demographic, economic and institutional levels, we seek to assess whether and to what extent their functioning affects Afghanistan's development. To capture...

This study was conducted by examining the interrelationships between Corruption, Human Resources, and Unemployment in Indonesia. We use data sourced from the World Bank and Transparency International with the period used from 1996 to 2021. This study aims to examine the relationship that exists...

Introduction: Orientation and Focus -- The Preliminaries -- The Two Sector Ramsey Model -- The Three-Sector Ramsey Model -- Extensions to the Three-Sector Model -- The Extended Three-Sector Model -- A Three-Sector #x2013; Two-Country World -- Data Issues and the Social Accounting Matrix -- Solution...