01777cas a2200289 a 4500 AALejournalIMF000826 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451845242 1018-5941 BD-DhAAL BD-DhAAL Xu, Chenggang. Institutions, innovations, and Growth / Chenggang Xu, Haizhou Huang. Washington, D.C. : International Monetary Fund, 1999. 1 online resource (11 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The fundamental importance of economic institutions for economic growth through their impact on technological change has been argued, reconfirmed by recent empirical studies, but not examined theoretically. This paper tries to fill that gap. In the model proposed, economic growth is affected by the efficiency and riskiness of research and development (R and D), which are endogenized through financial institutions. The theory and its results shed lights on the debate of convergence versus divergence; the 'East Asia miracle' versus the East Asia financial crisis; and the rise and fall of centralized economies. Mode of access: Internet Financial Institution imf Macroeconomics imf WP imf Huang, Haizhou. IMF Working Papers; Working Paper ; No. 1999/034 Full text available on IMF http://elibrary.imf.org/view/journals/001/1999/034/001.1999.issue-034-en.xml IMF e-Library