Constitutions: Financial crisis can lead to change
Many bemoan the fact that financial crisis and deep recession did not lead to constructive reform in most countries—at least […]
Growing Together: Croatia and Latvia
With Eduard Hochreiter We compare and contrast the economic growth performance of Croatia and Latvia since the collapse of communism […]
Growing apart? A tale of two republics: Estonia and Georgia
We compare and contrast the economic growth performance of Estonia and Georgia since the collapse of the Soviet Union in […]
A golden rule of depreciation
We derive a Golden Rule for the obsolescence of physical capital. Optimal durability is shown to vary inversely with population […]
The international economics of natural resources and growth
This article is in three parts. First, it briefly describes the contribution of natural resources to economic growth around the […]
Why Europe works less and grows taller
Money isn’t everything. Even if national economic output per capita remains higher in the United States than in most of […]
Why Europe works less and grows taller
Money isn’t everything. Even if national economic output per capita remains higher in the United States than in most of […]
Natural resources and economic growth: The role of investment
Is it possible that excessive reliance on natural resources affects saving and investment in a way that retards economic growth? […]
How do India and China grow?
This article aims to compare the development strategies and trajectories of the two economic giants of Asia, India and China. […]
Monetary and fiscal management, finance, and growth
This lecture addresses three related aspects of monetary and fiscal management in Europe and elsewhere. First, I discuss the implications […]