In this paper, I develop an industry-level index of capital-embodied R&D by capturing the extent of research and development directed at the capital goods in which a given industry invests. Compiling and adjusting data from the National Science Foundation and Commerce Department, I construct industry-level, time-series measures of this index and investigate its properties. The data allow me to ...

We set up a theoretical framework to analyse the role of economic growth and technological progress in the erosion of social capital. Under certain conditions on parameters, the relationship between technological progress and social capital can take the shape of an inverted U curve. Furthermore, we show the circumstances that allow the economy to follow trajectories where the stock of social ca...

The gap between the world's rich and poor countries largely comes down to the financial and physical assets that create wealth. Developed economies possess more of this capital than developing ones, and what they have usually incorporates more advanced technologies. The implication is clear: A key aspect of economic advancement lies in poorer nations' capacity to acquire more capital and scale ...

this study is done to define the technological contribution in the value chain of chemical industries and assess the effects of this on industrial’s value added. the value network contains 581 active firms in 5 stages and 21 groups, and date gathered with 141 questionnaires by snowball method. then the technology contribution and economic value added are defined for each stage and group. beside...

We examine the relation between inventory investment and the cost of capital in the time series and the cross section. We find consistent evidence that risk premiums, rather than real interest rates, are strongly negatively related to future inventory growth at the aggregate, industry, and firm levels. The effect is stronger for firms in industries that produce durables rather than nondurables,...

Initial growth in Internet use in the 1990s resulted in many digital pioneers viewing new information and communication technologies (ICTs) as a means to radically empower people through new global connections and extensive social capital. This has extended into an interest in exploring how ICTs can contribute to international development, and particularly in the field of ICT for development (I...

The internetworking and the outsourcing of business activities have become essential in the short term to maintain competitiveness in the market, as it allows to significantly reduce time and cost of core business processes. However, outsourcing, increasing the level of information sharing, imposes new precautions to maintain, in the medium and long-term, strategic control over the knowledge pr...

In this paper, we use a multi-sector specific factors model with international capital mobility to examine the effects of globalization on the skill premium in U.S. manufacturing industries. This model allows us to identify two channels through which globalization affects relative wages: effects of international capital flows transmitted through changes in interest rates, and effects of international...