Adding Space to the International Business Cycle

Abstract

The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

Technology and Demand Drivers of Productivity Dynamics in Developed and Emerging Market Economies

“…Using data for patents and R&D spending as proxies for productivity-enhancing technology adoption, some cross-country spillovers have been identified (Keller, 2010). Finally, in a factor modeling framework, TFP growth has been found to be one of the most important correlates of common developments in G7 GDP growth (Crucini et al, 2011) and a GDP factor estimated for a broader range of 117 economies (Abate and Serven, 2019).…”

Technology and Demand Drivers of Productivity Dynamics in Developed and Emerging Market Economies

“…Using data for patents and R&D spending as proxies for productivity-enhancing technology adoption, some cross-country spillovers have been identified (Keller, 2010). Finally, in a factor modeling framework, TFP growth has been found to be one of the most important correlates of common developments in G7 GDP growth (Crucini et al, 2011) and a GDP factor estimated for a broader range of 117 economies (Abate and Serven, 2019).…”