We conducted a worldwide ranking of academic institutions that produce research in a list of thirty top research journals in economics. We also computed journal rankings for the same period and hence we do not rely on weights that were computed for research carried out in earlier periods. The United States is clearly the dominant force in the top‐fifty group, but European academic institutions are well represented in the group of the top 200 universities worldwide as are universities from Asia and the Far East in particular. (JEL: A14, A10)

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This paper utilises an intertemporal optimisation framework to study the effects of public infrastructure capital on output supply and input demands in 12 OECD countries. We ®nd that in all 12 countries: (i) public capital has positive long-run effects on both output supply and input demands (ii) its mean short-run rates of return are fairly low, while the corresponding long-run rates are much higher but declining over time. These ®ndings underscore important under-investment gaps in infrastructure during the 1970s and 1980s; these gaps however narrowed down signi®cantly (in a few cases completely) by the early 1990s.

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We introduce infrastructure as a cost-reducing technology in Romer's (1987) model of endogenous growth. We show that infrastructure can promote specialization and long-run growth, even though its effect on the latter is non-monotonic, reflecting its resource costs. We provide evidence using data from the U.S. Census of Manufactures that suggests that the degree of specialization is positively correlated with core infrastructure, as predicted by the model. We also provide evidence from cross-country regressions, using physical measures of infrastructure provision, that shows a robust non-monotonic relationship between infrastructure and growth. JEL Classification: 041,050Infrastructure, spécialisation et croissance économique. Les auteurs introduisent l'infrastructure en tant que technologie réduisant les coûts dans un modèle de croissance endogène à la Romer (1987). On montre que l'infrastructure peut promouvoir la spécialisation et la croissance en longue péride, même si ses effets sur la croissance ne sont pas monotones et reflètent ses coûts en ressource. On montre, en utilisant les données du recensement des manufactures des Etats Unis, que le degré de spécialisation est relié positivement à l'infrastructure de base, comme le suggère le modèle. On montre aussi à l'aide de régressions transversales, utilisant des mesures physiques de l'infrastructure, qu'il existe une relation non monotone mais robuste entre infrastructure et croissance.We would like to thank two anonymous referees for constructive comments.