In the paper we present and estimate an endogenous growth model in which sustained per capita growth is the result of positive externalities of investment in physical capital. In contrast to the usual assumption that investment raises physical capital and, as a byproduct, a stock of knowledge one for one, we suppose a different framework. So, we treat physical and human capital as two distinct ...

Despite the fact that physical activity is universally acknowledged to be an important part of healthy functioning and well-being, the full scope of its value is rarely appreciated. This article introduces a novel framework for understanding the relationships between physical activity (and specifically sport-related forms of physical activity) and different aspects of human development. It prop...

this paper investigates the effect of foreign trade and human capital on economic growth using pooling data for the oic member countries over the period 1980-2003. for this purpose, the soderbom-teal (2003) growth model is re-specified with the variables such as growth of manufacturing exports, manufacturing imports, human capital, labor force and physical capital. the empirical results indicat...

In the Intellectual Capital (IC) literature, only a few studies have analyzed the relationships among the components of IC and organizational success. This study provides further insight into the role of IC in organizational performance, especially financial performance. In this order, Value Added Intellectual Coefficient (VAICTM) method has been used for measuring the value based performance o...

Resource misallocation can lower aggregate total factor productivity (TFP). We use micro data on manufacturing establishments to try to quantify the extent of this misallocation in China and India in recent years. Viewing the data through the prism of the Melitz model of monopolistically competitive firms, we estimate sizable gaps in marginal products of labor and capital across plants within n...

Regional output per worker has converged across Chinese provinces in 19791989. The estimated rate of convergence is 2.2 percent. This rate of convergence can be explained by neoclassical growth model conditional on assumptions about factor mobility and production elasticities. My empirical results show that capital mobility has been high across Chinese provinces and that the production elastici...

The average Latin American country produces about 1 fifth of the output per worker of the US. What are the sources of these enormous income gaps? I report development-accounting results for Latin America. On average Latin America’s overall physical and human capital endowment relative to the USA is essentially identical to Latin America’s efficiency relative to the USA . In my main sample avera...

The theoretical richness and variety of the new growth literature can make it difficult to capture the essence of growth models. With this paper, we wish to provide one possible integrating view of the nature of the growth generating processes. Revisiting the models that constitute the core of growth theory, we expose analytically the main mechanisms through which long-run growth can be deliver...