Corporate governance distortions delay or even halt a country’s transformation into modern innovation economy. We investigate the mechanism through growth model that allows for agency issues within firms. Governance raise cost of investment and depress incentives to set up new Modest differences in account large gaps income: A 32 percent differential can explain secular decline Latin America in...

health consequences of industrialization and urbanization. This interpretation, however, relies on sources subject to selection bias. Our meta-analysis shows that the declining height during industrialization emerges primarily in selected samples. We also develop a parsimonious diagnostic test that reveals, but does not correct for, selection bias in height samples. When applied to four represe...

This paper analyzes the relationship between industrialization and technology in detail. Three main conclusions are obtained: (i) the crucial factor for the existence of a poverty trap is the degree of substitutability among intermediate inputs; (ii) the e1ects of technological progress in the manufactured good sector and the intermediate goods sector on industrialization di1er with the degree ...

This paper presents theory and evidence to show that imperialism was a major factor impeding the spread of the industrial revolution during the century ending in the 1950s. Two empirical results stand out. First, analysis of historical evidence shows that most sovereign countries were implementing active industrial policies during the nineteenth century, while policies in dependent countries we...

The industrialization of software development induces several changes to the development process as software development becomes distributed over company borders. They cooperatively develop individual components that are later assembled to software systems. This division of responsibilities requires a stricter quality assurance and in fact, creates a setting where the certification of software ...

This study shows that China’s post-1949 state-led industrialization has closely followed an underlying path that began in the late nineteenth century. It was initiated by pressing national defence needs and has since been motivated by the same and strong incentives for a faster catch-up with the West despite radical regime shifts. Government determined or influenced resource allocation benefite...