The paper explores the features of a dynamic multisectoral model which focuses on the relationship between income distribution, growth and international specialization. The model is applied to a situation which analyses qualitatively different economic development strategies of catching-up economies.
The authors provide the first rigorous quantitative evidence that a higher number of bilateral investment treaties (BITs) raises the foreign direct investment that flows to a developing country. Results suggest that BITs function as substitutes for good domestic institutional quality.
The paper offers a sketch of what an economic theory of the firm would look like if it were founded on the thought of Joseph Schumpeter, particularly on Chapters 1-2 of his Theory of Economic Development. The main elements of a Schumpeterian view are described and contrasted with those in the mainstream view.
The paper argues that the initial inequality of human capital could also be a contributing factor to the delayed process of industrialization characterizing some countries. The authors develop a neo-classical growth model which predicts that countries with a greater initial knowledge gap between rich and poor agents industrialize slowly, and that human capital inequality, although declining, tends to be persistent.
Using establishment level data from the ARD, the paper adopts very precise measures of
technology to consider technological differences between establishments operating in the United Kingdom. Findings indicate that typically Canadian, U.S. and Swiss establishments have a higher probability of being more technology advanced than the average.
Using micro-level panel data of about 35,000 firms from the German Cost Structure Census, the authors analyze the differences of technical efficiency across industries. One striking result is that the distribution of technical efficiency across industries is positively skewed.
Utilizing a group of 1,371 scientific articles published in 17 demography journals in the years 1990-1992, the authors track their influence and discern which signals are important in receiving citations. The empirical analysis points out that the reputation of journals plays an overriding role in gaining attention in science.
The paper investigates the importance of market incompleteness by comparing the rates of risk aversion estimated from complete and incomplete markets environments, using consumption data for 50 U.S. states.
The paper considers the role of foreign investors in developed-country equity markets. The authors present a quantitative model of trading that is built around two new assumptions.
Barriers to technological changes have recently been shown to be a key element in explaining differences in output per worker across countries. This study examines the role that labour market features and institutions have in explaining barriers to technology adoption.