This paper uses a multi-equation model to achieve an overall study of two key factors which explain growth, technology and institutions. The paper focuses on the process of the accumulation of these factors and the interrelationship arising among them. A theoretical model is given, together with empirical evidence for the joint impact of these factors on economic growth in a wide-ranging sample of countries between 1985 and 1997. This paper also contributes certain novel aspects in the variables employed. Thus, an indicator of human capital and an index reflecting institutional infrastructure have been used. The human capital indicator considers health, formal education, informal education and accumulated experience. It embraces a wider range of factors than the variables conventionally used in empirical studies. As to the institutional infrastructure index, it has been constructed on the basis of six institutional sub-indices, comprising voice and accountability, political stability, government effectiveness, regulatory quality, rule of law and control of corruption. Thus, the index constructed captures a greater wealth of the items commonly covered by the concept of institutions.

Bullying is a recognised serious public problem affecting many students worldwide. Despite the well-established empirical evidence for the negative consequences of bullying on adolescents? mental and physical health and educational outcomes, little is known about the link between bullying victimisation and adolescents? subjective well-being. Moreover, empirical studies using comparative large-scale survey data are particularly scarce. This study explores this question using nationally-representative data from 329,015 adolescents across 64 high and middle-income countries and economies from the 2018 PISA survey. Two measures of subjective well-being were considered: overall life satisfaction and positive affect. Multilevel regressions were estimated at three levels (student, school, and country). Results showed that bullying victimisation was negatively and significantly related to overall life satisfaction and positive affect after controlling for a wide set of factors affecting subjective well-being. Moreover, this negative relationship was more pronounced for top performing students. Locally adapted intervention programmes are needed to tackle the issue of school bullying and foster positive school climate and student well-being. Practical and policy implications are discussed in detail.