There appears to be significant diversity in the incidence of bureaucratic corruption across countries at different stages of economic development and under different political and economic regimes. Little theoretical or empirical analysis has been offered, however, on the link between corruption, government, and growth. The paper attempts to fill the void through equilibrium models of endogeno...

S INCE ABOUT 1980 THERE HAS BEEN UNPRECEDENTED global economic integration. Globalization has happened before, but not like this. Economic integration occurs through trade, migration, and capital flows. Figure 1.1 tracks these flows. World trade is measured relative to world income. Capital flows are proxied by the stock of foreign capital in developing countries relative to their GDP. Migratio...

In this paper we study the economic determinants of the inter-sectoral distribution of skilled workers and the long-run consequences of imperfect competition on growth within an R&D-based growth model with human capital accumulation. We find that steady-state growth is driven only by incentives to accumulate human capital and is independent of scale effects. In the model imperfect competition h...

Culture of entrepreneurs is also a sort of capital, which has a direct effect on development of enterprises in the process of economic operation of enterprises. Construction of cultural capital among entrepreneurs helps to enhance the overall competitive strength of Chinese enterprises in international society and helps to push forward development of the economic society. Due to historical reas...

Social capital creates local economic prosperity. This ® nding by Putnam (1993a), Fukuyama (1995), Coleman (1988, 1990) and other social scientists has lent legitimacy to what those involved in community economic development have known intuitively for years: the level of inter-personal trust, civic engagement and organisational capability in a community counts. Their research indicates that the...

modern growth theory argues that intellectual spillovers—idea flows among individuals that are not mediated by the market—are a linchpin of economic progress. In Paul Romer’s seminal work, endogenous economic growth requires increasing returns.1 Without nonmarket intellectual spillovers or some form of externality, increasing returns and economic competition cannot coexist. In Romer’s now canon...