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Only a few years ago the conventional wisdom predicted that globalization would render the demise of the region as a meaningful unit of economic analysis. Yet the obsession of policy-makers around the globe to 'create the next Silicon Valley' reveals the increased importance of geographic...
Persistent link: https://www.econbiz.de/10005661735
Whether diversity or specialization of economic activity better promotes technological change and subsequent economic growth has been the subject of a heated debate in the economics literature. The purpose of this paper is to consider the effect of the composition of economic activity on...
Persistent link: https://www.econbiz.de/10005662217
financially support public education that would sustain their profit rates and would improve their economic well being, although …
Persistent link: https://www.econbiz.de/10005123626
education. Public education is favourable for growth because it increases the level of human capital and at the same time it … more political support for education; increased political rights are good for growth and also imply a more equal income …
Persistent link: https://www.econbiz.de/10005661435
emerge. First, minor differences in education technologies, preferences, or wealth, can lead to a high degree of … inequality in education and income more persistent across generations. Whether the same is true of inequality in total wealth … richer communities; thus average academic performance and income growth both fall. Yet it may still be possible for education …
Persistent link: https://www.econbiz.de/10005661649
This paper reinterprets a simple model of growth and fluctuations across many economies to allow for the explicit characterization of the dynamically-evolving cross-economy distribution of income. Such a framework provides a more natural, revealing study of the convergence hypothesis. The data...
Persistent link: https://www.econbiz.de/10005661869
particular when comparing local and national funding of education, which correspond to special cases of segregation and …
Persistent link: https://www.econbiz.de/10005666953
This paper is a reflective survey of past and recent econometric work on the growth of firms. Most of this work suggests that firm size follows a random walk; i.e. that corporate growth rates are random. The survey documents this, and shows what a strong result this is by contrasting it with...
Persistent link: https://www.econbiz.de/10005504353
We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex-ante) legal system and a flexible one (law set after observing current technology). The flexible system dominates in terms of welfare, amount of innovation and output growth at...
Persistent link: https://www.econbiz.de/10009148877
We develop a model of growth driven by successive improvements in `General Purpose Technologies' (GPTs), such as the steam engine, electricity, or micro-electronics. Each new generation of GPTs prompts investments in complementary inputs and impacts the economy after enough such compatible...
Persistent link: https://www.econbiz.de/10005124059