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Highly industrialized countries in North America, Europe, and Asia have the potential to succeed in undertaking practically any kind of technological development and eventually bringing to market the results of their research and development, according to the author. But sufficient evidence is also available about specific instances of successful technological development in selected Asian and Latin-American countries that are somewhere in between, called "semi-industrialized."

The paper shows China’s technological advance, its basis in using foreign technology combined with its own manpower resources, and its clever integration of regional ambitions with national policies and programs. It also indicates an emerging global rivalry as China moves towards a future status as technological superpower.

The paper groups states into regions based not on a broad set of socioeconomic
characteristics but on the similarities in their business cycles. Having grouped the states into regions, the author determines the relative strength of cohesion among the states in the various regions and compares those regions with the BEA regions.

The paper uses the Stock/Watson
methodology to estimate a consistent set of coincident indexes for the 50 states. These indexes provide researchers with a comprehensive monthly measure of economic activity that can be used to examine a number of state and regional issues.

The authors demonstrate that a model that allows for a role of nominal wage rigidity, coupled with a modest degree of price stickiness as some recent research suggests, provides a better account for the macroeconomic effects of technology shocks on the labor market.

The paper reviews, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth. Evidence suggests that both financial intermediaries and markets matter for growth and that reverse causality alone is not driving this relationship.

The authors introduce a growth model of technology diffusion and endogenous total factor productivity levels both at the sector and aggregate level. They estimate their model using a broad range of technological adoption measures, covering 17 technologies and 21 industrialized countries over the past 180 years.

The paper considers the European Unions regional policy as a substitute for explicit side payments and asks -- from a normative and a positive point of view -- why matching grants instead of unconditional grants are used although at first sight regional policy is a national and not a union-wide task.

Despite globalisation, the essential role of FDI in economic development has not changed, according to the authors. However, many mechanisms and dynamics of FDI-assisted development have changed: there is greater variation in the kinds of FDI, the benefits each offers, and the manner in which each interacts with the host economy.

The author uses a growth model with human capital accumulation and an externality in the human capital production function to show that externality depends on the level of human capital of the most advanced countries.