We study the impact of distortions in the investment goods sector on aggregate total factor productivity (TFP). We develop a two-sector neo-classical growth model in which TFP in the capital goods sector relative to TFP ...

This paper argues that trade specialization played an indispensable role in supporting the Industrial Revolution. We calibrate a two-good and two-sector overlapping generations model to Englandís historical development and ...

Due to several policy distortions, including import-substitution industrialization, widespread government intervention and both domestic and international competitive barriers, there has been a general presumption that ...

This paper argues that trade specialization played an indispensable role in supporting the Industrial Revolution, allowing the economy to shift resources to the manufacture without facing food and raw materials shortage. ...

Due to widespread government intervention and import-substitution industrialization, there has been a general presumption that Latin America has been much less productive than the leading economies in the last decades. In ...

This paper studies the impact of HIV/AIDS on per capita income and education. It explores two channels from HIV/AIDS to income that have not been sufficiently stressed by the literature: the reduction of the incentives to ...

This paper examines structural changes that occur in the total factor productivity (TFP) within countries. It is possible that some episodes of high economic growth or economic decline are associated with permanent ...

This article discusses the convenience of adopting industrial policy in Brazil. We argue that the success of East Asian countries, usually explained by industrial policy, is mainly result of horizontal policies. We also ...

Este trabalho discute a conveniência do uso de políticas industrias no Brasil. Argumenta-se que o sucesso dos países do Leste Asiático, muitas vezes relacionado ao uso de política industrial (PI), é resultado principalmente ...

Due to widespread government intervention and import-substitution industrialization, there has been a general perception that Latin America has always been less productive than the leading economies. In this paper, however, ...