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A crucial issue in the era of globalisation and internationalization, is whether the relationship between investment and finance is beneficial to growth and development. Received wisdom is that Research and Development is essential not only for maintaining productivity, but also for competing in the marketplace. Similar questions have been raised about education and its rate of 'social return; is education necessary for improving the skill of the workforce, or does it serve primarily to facilitate the adoption of these new technologies? This book brings together a case of leading international scholars to analyze the importance of education, research and human capital and the impact of financial systems on growth and development.
List of contents
Notes on the Contributors Preface; L.Paganetto PART I: FINANCE AND GROWTH Stock Markets Liquidity and Economic Growth: Theory and Evidence; R.Levine The Empirical Importance of Private Ownership for Economic Growth; D.Palia & E.S.Phelps Intergenerational Transfers and Growth; G.Marini & P.Scaramozzino PART II: RESEARCH AND GROWTH Human Capital, Ideas and Economic Growth; C.I.Jones A Rising Trade of Diffusion as Conduits of Growth; J.Eaton & S.Kortum The Role of Education and Knowledge in Endogenous Growth; L.Paganetto & P.L.Scandizzo Factors Behind the Asian Miracle: Entrepreneurship, Education and Finance; R.R.Nelson & H.Pack Productivity, Growth and the Business Cycle: An Analysis of the Italian Manufacturing Sector; V.Atella & B.Quintieri Technological Globalization of National Systems of Innovation?; D.Archibugi & J.Michie PART III: EDUCATION AND GROWTH Endogenizing Investment in Tangible Assets, Education, and New Technology; D.W.Jorgenson Conclusions; E.S.Phelps
About the author
DANIELE ARCHIBUGI Technological Director, Italian National Research Council, Rome
VICENZO ATELLA Department of Economics, University of Rome 'Tor Vargata'
JONATHAN EATON Department of Economics, Boston University
SAMUEL KORTUM Department of Economics, Boston University
CHARLES I. JONES Department of Economics, University of California, Berkeley
DALE W. JORGENSON Department of Economics, Harvard University
ROSS LEVINE Carlson School of Management, University of Minnesota
GIANCARLO MARINI Department of Economics, University of Rome 'Tor Vergata'
JONATHAN MICHIE Management Department, Birkbeck College, London
RICHARD R. NELSON George Blumenthal Professor of International and Public Affairs, Business and Law, Columbia University
HOWARD PACK Professor of Economics, University of Pennsylvania
DARIUS PALIA Rutgers University, USA
EDMUND S. PHELPS Department of Economics, Columbia University, New York
BENIAMINO QUINTIERI Department of Economics, University of Rome 'Tor Vergata'
PASQUALE LUCIO SCANDIZZO Department of Economics, University of Rome 'Tor Vergata'
PASQUALE SCARAMOZZINO School of Oriental and African Studies, University of London
Summary
A crucial issue in the era of globalisation and internationalization, is whether the relationship between investment and finance is beneficial to growth and development. Received wisdom is that Research and Development is essential not only for maintaining productivity, but also for competing in the marketplace. Similar questions have been raised about education and its rate of 'social return; is education necessary for improving the skill of the workforce, or does it serve primarily to facilitate the adoption of these new technologies? This book brings together a case of leading international scholars to analyze the importance of education, research and human capital and the impact of financial systems on growth and development.
