Alberto Colino, Diana Benito-Osorio and Carlos Rueda Armengot
The aim of this paper is to gain new insight on the determinants of economic growth. More precisely, it disentangles the contribution of an increase in the stock of ideas that…
Abstract
Purpose
The aim of this paper is to gain new insight on the determinants of economic growth. More precisely, it disentangles the contribution of an increase in the stock of ideas that exceeds the rate of growth in the steady state and the growth inherent to the steady state.
Design/methodology/approach
Following Romer (1990) and Jones (2000, 2002) this paper uses an aggregate production function. The paper also models the evolution of the stock of ideas following the generalisation of Jones (1995). The analysis decomposes growth utilising the estimated parameters inherent to the ideas function.
Findings
This article presents a growth accounting exercise that estimates total factor productivity for three Southern European economies. Systematic comparison of the countries illustrates the importance of innovation for economic growth. This exercise shows the main growth patterns over the last 50 years, and highlights the principal determinants by specifying an ideas function.
Originality/value
This study yields recent timeframe for explaining per capita income variations within economies and observed differences across economies.
Details
Keywords
Alberto De la Peña Varona and Jaione Mondragón
The management of inter-regional basins in the Spanish case is a clear example of the complexity of water policy. The entry into force of the Water Framework Directive changed the…
Abstract
The management of inter-regional basins in the Spanish case is a clear example of the complexity of water policy. The entry into force of the Water Framework Directive changed the objective and design process of public policy, prioritizing the conservation of river ecosystems and establishing the mandate for participation and inter-administrative coordination. This expanded the number of participants, creating a network of public and private actors with different interests and perceptions, bringing the water issue closer to what is often referred to in public policy as a wicked problem. In this chapter, we highlight how the Spanish political sphere has approached water policy in this new context, paying special attention to the role played by river basin organizations. To this end, we deal with two conflicts: the first concerning the Ebro Delta and the second on the water transfer between the Tajo and Segura rivers. Both cases show the inability of the central bodies of the State, the autonomous communities, and private agents to reach a consensus on water policy, which ends up shaping a decision-making system in which, although the legislative resources of the stakeholders are key, and the policy capacity of the basin organizations is reduced.