The role that investment-specific technological change played in generating postwar U.S. growth is investigated here. The premise is that the introduction of new, more efficient capital goods is an important source of productivity change, and an attempt is made to disentangle its effects from the more traditional Hicksneutral form of technological progress. The balanced growth path for the mode...

Technological change is perhaps the most powerful engine of growth in markets today. To harness this source of growth, firms need to understand the dynamics of technological change. In particular, they need answers to the following questions: (1) How do new technologies evolve? (2) How do rival technologies compete? (3) How do firms deal with technological evolution? Currently, answers to these...

Introduction: The causal dynamics between environment, health expenditures and economic growth has recently started to be studied in the economics literature for both developing and developed countries. Methods: This study examines the causal relationship between CO2 emissions, health expenditures and economic growth using dynamic simultaneous-equations models for Iran over the period 1972-2...

We investigate long-run firm-level productive growth and technological changes relate these to the formal informal institutions related factors. conclude that persistency of easing regulations through broader reforms, including privatization perception non-reversal helped firms achieve prolonged productivity gains—led by alongside a socially desirable reduction in CO2 emissions due energy savin...

This article examines the real convergence hypothesis in OPEC countries (Algeria, Angola, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela) using time series techniques and allowing for structural breaks. The main results show lack of support for income convergence in OPEC countries. We only find evidence of catch-up with the...

Our paper investigates the unexplored impact of education on inflation and of this relationship on economic growth. By using a sample of 102 countries observed on non-overlapping five-year data spells over the period 1963-2001, we find that average schooling years of the working population have a significant negative impact on inflation rates after controlling for the effects of the stance of d...