Protection of intellectual property to foster innovations in the service sector

Masayuki Morikawa, 20 July 2014

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Given the declining labour force due to population ageing, accelerating the productivity growth of industries – especially the service industries – is an important element of the growth strategy in Japan and most advanced countries. While there are a variety of factors affecting productivity, innovation is one of the key determinants of productivity growth.

Topics: Productivity and Innovation
Tags: growth, innovation, intellectual property, Japan, patents, productivity, R&D, services, trade secrets

Connecting Brazil to the world

Patricia Ellen, Jaana Remes, 12 July 2014

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Despite a decade of rapid growth and falling poverty rates, Brazil has failed to match the global average for income growth – let alone to achieve the kind of impressive gains posted by other rapidly transforming emerging economies.

Topics: Development, International trade, Productivity and Innovation
Tags: Brazil, development, global value chains, globalisation, growth, MERCOSUR, openness, productivity, trade

Growing through cities in India

Ejaz Ghani, William Kerr, Ishani Tewari, 11 July 2014

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Urbanisation and development are tightly linked (Duranton and Puga 2013). Developing countries are urbanising at a much faster pace than developed countries. For instance, China’s and India’s economic transformation and urbanisation is happening at 100 times the scale of the first country in the world to urbanise – the UK – and in just one-tenth of the time.

Topics: Development
Tags: growth, India, urbanisation

Institutions, trade shocks, and regional differences in long-run educational and development trajectories

André Carlos Martínez, Aldo Musacchio, Martina Viarengo , 9 July 2014

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Understanding the determinants of long-run socio-economic development is a major concern for academics and policymakers in many countries around the world.

Topics: Development, Economic history, Education
Tags: Brazil, colonialism, development, education, extractive institutions, growth, Inequality, institutions, trade shocks

The Great Recession’s long-term damage

Laurence Ball, 1 July 2014

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According to macroeconomics textbooks, a fall in aggregate demand causes a recession in which output drops below potential output – the normal level of production given the economy’s resources and technology. This effect is temporary, however.

Topics: Global crisis
Tags: Great Recession, growth, hysteresis, OECD, potential output, unemployment

Has the Great Recession harmed the long-term growth prospects of the Eurozone economy?

Philippe Weil interviewed by Viv Davies, 20 Jun 2014

The CEPR Business Cycle Dating Committee recently concluded that there is not yet enough evidence to call a business cycle trough in the Eurozone. Instead, the committee has announced a 'prolonged pause' in the recession. This Vox Talk discusses the possible directions that this situation could lead to and questions whether the Great Recession has harmed the Eurozone’s long-term growth prospects to the extent that meagre growth could become the 'new normal'.

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See Also

CEPR Business Cycle Dating Committee (2014), "Eurozone mired in recession pause", VoxEU.org, 17 June.

Transcript

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Topics: Europe's nations and regions, Global crisis
Tags: business cycle dating, business cycles, CEPR, eurozone, expansion, GDP, growth, peak, recession, trough

Eurozone mired in recession pause

CEPR Business Cycle Dating Committee, 17 June 2014

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The CEPR Business Cycle Dating Committee met on 11 June 2014 to determine whether the Eurozone is out of the recession that started after 2011Q3.

Topics: Europe's nations and regions, Global crisis
Tags: business cycle dating, business cycles, CEPR, eurozone, expansion, GDP, growth, peak, recession, trough

Lacklustre investment in the Eurozone: Is there a puzzle?

Marco Buti, Philipp Mohl, 4 June 2014

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On the importance of investment for the Eurozone economy

According to the European Commission’s most recent forecast, real economic activity in the Eurozone is expected to recover at a moderate pace until 2015, and to remain significantly weaker than in the US (European Commission 2014a).

Topics: EU policies, Macroeconomic policy
Tags: banking union, Bankruptcy, European Commission, eurozone, Eurozone crisis, financial fragmentation, growth, investment, public investment, structural reforms, uncertainty

Is Piketty’s ‘Second Law of Capitalism’ fundamental?

Per Krusell, Tony Smith, 1 June 2014

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Over the last several weeks, we have thought quite a bit about the main message in Thomas Piketty’s now world-famous book, Capital in the Twenty-First Century (Piketty 2014). We have also discussed it at great length with colleagues.

Topics: Poverty and income inequality
Tags: growth, Inequality, saving, savings, wealth

How highly educated immigrants raise native wages

Giovanni Peri, Kevin Shih, Chad Sparber, 29 May 2014

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Immigration to the US has risen tremendously in recent decades. Though media attention and popular discourse often focus on illegal immigrants or the high foreign-born presence among less-educated workers, the data show that immigrants are drawn from both ends of the education spectrum.

Topics: Labour markets, Migration, Productivity and Innovation
Tags: complementarities, growth, immigration, innovation, productivity, STEM, US, wages

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