of factors of production in space-occupies a relatively small part of standard economic analysis. International trade theory, in particular, conventionally treats nations as dimensionless points (and frequently assumes zero transportation costs between countries as well). Admittedly, models descended from

This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data. The paper

Since 1973 technological, political, regulatory, and economic forces have been changing the worldwide economy in a fashion comparable to the changes experienced during the nineteenth century Industrial Revolution. As in the nineteenth century, we are experiencing declining costs, increaing average

to *Bruce Kogut is a Visiting Professor at the Institute of International Business at the Stockholm School of Economics and is on leave from the Wharton School. *"*Harbir Singh is an Associate Professor of Management at the Wharton School of Business. His prior research is on corporate acquisitions

A country’s suitability for entry into a currency union depends on a number of economic conditions. These include, inter alia, the intensity of trade with other potential members of the currency union, and the extent to which domestic business cycles are correlated with those of the other countries

between net migration and economic growth. We also study the evolution of gross state product since 1963 and relate the behavior of aggregate product to productivity in eight major sectors. The overall evidence weighs heavily in favor of convergence: both for sectors and for state aggregates, per capita

Post World War II European welfare states experienced several decades of relatively low unemployment, followed by a plague of persistently high unemployment since the 1980's. We impute the higher unemployment towelfare states ' diminished ability to cope with more turbulent economic times

review and interpret the aggregate-level and microeconomic literatures to identify the key explanations for this performance. There is a reasonable correspondence of the two sets of evidence, pointing to four factors as being important. These are a lack of openness to international trade; a high

transformed us at least as pervasively as the internal combustion engine or electric motor.” Alan Greenspan (1999) appears to be among the technological enthusiasts. He recently stated: “A perceptible quickening in the pace at which technological innovations are applied argues for the hypothesis

diffusion relates to other factors affecting economic growth in open economies. The following main section of the paper provides a review of recent empirical results on (i) basic results in intemational technology diffusion; (ii) the importance of specific channels of diffusion, in particular trade