Local problems, local solutions: The need for advanced skills and R&D in the developing world
Education is part of the enabling infrastructure required for jobs, social development, and future economic growth. Unfortunately, low- and middle-income countries face an urgent skills
The economic impact of European capital market integration
Economic growth in Europe continues to lag behind that of the US, largely due to smaller productivity gains. This column uses a general equilibrium model
The market implications of industrial subsidies
Governments are increasingly employing industrial subsidies, raising questions about their market implications. This column undertakes a thorough econometric testing of the causal impacts of subsidies
Tax incentives for R&D can spur innovation and growth—when done right
As the debate around industrial policy intensifies, there is broad consensus on the rationale for government support to encourage private sector innovation. Economy-wide returns from
