The contributors to this volume provide answers to these questions, focussing in particular on two areas: the role that globalization of certain markets has played in the convergence of productivity levels over much of the world in recent decades and the effect on economic growth of a country's membership of a specific economic area.

PART 1: HUMAN CAPITAL AND GROWTH - How Robust Is the Growth-Machinery Nexus?; J.B.De Long & L.H.Summers - The Role of Human Capital and Political Instability in Economic Development; J.Benhabib & M.M.Spiegel - Allocation of Time, Human Capital and Endogenous Growth; M.Baldassarri, P.De Santis & G.Moscarini - PART 2: EXPLAINING GROWTH - Infrastructure and Growth; D.Canning, M.Fay & R.Perotti - PART 3: THE IMPORTANCE OF ECONOMIC AREAS - On the Importance of Joining the EC's Single Market: the Perspective EFTA Members; R.E.Baldwin - Growth and Specialization in an Enlarged Europe: is a Virtuous Circle Possible?; C.A.Bollino & P.C.Padoan - PART 4: LESSONS FROM LATIN AMERICA - Latin America's Economic Growth; V.Corbo & P.Rojas - Inflation Fall, Financial Recovery and Endogenous Growth in Latin American Countries; M.Bagella & M.Lo Cascio