Working Paper WAGNER’S LAW IN 19 CENTURY GREECE: A COINTEGRATION AND
... total expenditure increases. According to him, there are three main reasons, which support this hypothesis: first, during industrialisation, the administrative and regulatory functions of the state would substitute public for private activity; second, economic growth would lead to an increase in cul ...
... total expenditure increases. According to him, there are three main reasons, which support this hypothesis: first, during industrialisation, the administrative and regulatory functions of the state would substitute public for private activity; second, economic growth would lead to an increase in cul ...
S0900134_es.pdf
... labor productivity of a factor of 4. Under one metric, this increase in labor productivity is equivalent to 70 years worth of U.S. post-WWII development. There is an extensive literature analyzing different aspects of the development experience in Latin America. This literature is too vast to cite h ...
... labor productivity of a factor of 4. Under one metric, this increase in labor productivity is equivalent to 70 years worth of U.S. post-WWII development. There is an extensive literature analyzing different aspects of the development experience in Latin America. This literature is too vast to cite h ...
Vulnerability in Small Island Economies. The case of the Caribbean
... A branch of the literature develops indices based on observable variables, where the main challenge is how to add up the different variables in just one index, what necessarily needs to weight the different factors. The weights can be constructed ad hoc (assumed by the researcher) or using some econ ...
... A branch of the literature develops indices based on observable variables, where the main challenge is how to add up the different variables in just one index, what necessarily needs to weight the different factors. The weights can be constructed ad hoc (assumed by the researcher) or using some econ ...
The Concept of Scale and Its Relation to Allocation, Distribution, and
... How large is the economic subsystem relative to the earth ecosystem? How large could it be, i.e., what is its maximum scale? And most importantly, How large should the subsystem be relative to the ecosystem? Is there an optimal scale (less than the biophysical maximum) beyond which physical growth o ...
... How large is the economic subsystem relative to the earth ecosystem? How large could it be, i.e., what is its maximum scale? And most importantly, How large should the subsystem be relative to the ecosystem? Is there an optimal scale (less than the biophysical maximum) beyond which physical growth o ...
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... 2002, the Ifo indicator for the economic climate in the euro area lost considerable ground in vis-à-vis the July survey. The distance to the economic trough of autumn last year after the terror assaults in the USA has clearly shrunk, and the indicator is considerably below the long-term average. How ...
... 2002, the Ifo indicator for the economic climate in the euro area lost considerable ground in vis-à-vis the July survey. The distance to the economic trough of autumn last year after the terror assaults in the USA has clearly shrunk, and the indicator is considerably below the long-term average. How ...
Country Snapshots - SPG Intercity Zurich AG
... within a positive, yet fragile, global economic environment, the Swiss economy is set to grow by an average of 1.4% in 2016; real growth of 1.8% is forecast for 2017. Furthermore unemployment will rise marginally over the coming months (average for 2016: 3.6%, 2017: 3.5%), while a small increase in ...
... within a positive, yet fragile, global economic environment, the Swiss economy is set to grow by an average of 1.4% in 2016; real growth of 1.8% is forecast for 2017. Furthermore unemployment will rise marginally over the coming months (average for 2016: 3.6%, 2017: 3.5%), while a small increase in ...
New Evidence from ECOWAS Countries Using
... The neoclassical model of growth was first devised by Nobel Prize winning Economist Robert Solow (1956). The model believes that with a sustained increase in capital investment increases the growth rate temporarily: because the ratio of capital to labour goes up but the additional unit of marginal p ...
... The neoclassical model of growth was first devised by Nobel Prize winning Economist Robert Solow (1956). The model believes that with a sustained increase in capital investment increases the growth rate temporarily: because the ratio of capital to labour goes up but the additional unit of marginal p ...
2. I E D
... emerging economies. Similarly, manufacturing PMI data for the Euro Area pointed to a quarter-onquarter decline in the second quarter. Yet, manufacturing PMI data for the US were more favorable in this period. Combined with labor market data, these readings indicate that the US economy will expand in ...
... emerging economies. Similarly, manufacturing PMI data for the Euro Area pointed to a quarter-onquarter decline in the second quarter. Yet, manufacturing PMI data for the US were more favorable in this period. Combined with labor market data, these readings indicate that the US economy will expand in ...
Outsourcing and Offshoring: Problems for Price and Productivity
... The driving force behind outsourcing, offshoring, and other changes in input sourcing is factor-price arbitrage: the substitution of a lower-priced input for an input produced internally or purchased from a domestic supplier. The salient feature of outsourcing and offshoring thus is the reduction o ...
... The driving force behind outsourcing, offshoring, and other changes in input sourcing is factor-price arbitrage: the substitution of a lower-priced input for an input produced internally or purchased from a domestic supplier. The salient feature of outsourcing and offshoring thus is the reduction o ...
Inflation, Money and Economic Growth in Cameroon
... in circulation marched it to the long-term growth rate of the GDP, follow it up. These eliminate the sources of major instability. The modern version of this argument is given by the theory of real economic cycles. Discretionary policy is associated to an inflationary bias if monetary authorities tr ...
... in circulation marched it to the long-term growth rate of the GDP, follow it up. These eliminate the sources of major instability. The modern version of this argument is given by the theory of real economic cycles. Discretionary policy is associated to an inflationary bias if monetary authorities tr ...
NBER WORKING PAPER SERIES INTERNATIONAL FINANCIAL INTEGRATION AND ECONOMIC GROWTH Hali J. Edison
... accumulated stocks of financial assets and liabilities into FDI, portfolio, and total financial claims in assessing the links between economic growth and a wide assortment of IFI indicators. Thus, we add these additional IFI indicators to the empirical examination of growth and international financi ...
... accumulated stocks of financial assets and liabilities into FDI, portfolio, and total financial claims in assessing the links between economic growth and a wide assortment of IFI indicators. Thus, we add these additional IFI indicators to the empirical examination of growth and international financi ...
Economic growth and employment generation in India: I. Introduction
... and reduced government protection of inputs and output prices. In addition, financial liberalisation, and particularly exposure to open capital flows, puts fairly strong constraints on fiscal behaviour even as it typically involves declining tax-GDP ratios. This means that government tend to become ...
... and reduced government protection of inputs and output prices. In addition, financial liberalisation, and particularly exposure to open capital flows, puts fairly strong constraints on fiscal behaviour even as it typically involves declining tax-GDP ratios. This means that government tend to become ...
Table 1: India`s agriculture trade in post reforms and post WTO period
... pattern shows sharp contrast with the first five years of reforms period when share of exports in GDP experienced sizable increase. Marine products are the most important items of agricultural exports from India and oilmeal/cake remained the second most important item in most of the years (Table 2). ...
... pattern shows sharp contrast with the first five years of reforms period when share of exports in GDP experienced sizable increase. Marine products are the most important items of agricultural exports from India and oilmeal/cake remained the second most important item in most of the years (Table 2). ...
Growth versus development: different patterns of industrial growth in Latin America
... excellence. A modern industrial sector enhances output growth since productivity is expected to grow faster in the manufacturing sector fostered by increasing returns to scale and gains from innovation and learning by doing (Kaldor, 1966). From a Lewisian perspective (Lewis, 1954) it can still be ar ...
... excellence. A modern industrial sector enhances output growth since productivity is expected to grow faster in the manufacturing sector fostered by increasing returns to scale and gains from innovation and learning by doing (Kaldor, 1966). From a Lewisian perspective (Lewis, 1954) it can still be ar ...
The theory of output in the Modern Classical Approach
... inflexibility of the rate of interest due to its monetary determination. The liquidity preference was the theoretical tool used to criticize the role of the rate of interest as adjusting investment and saving and to put forward an alternative theory of the rate of interest as a monetary phenomenon. ...
... inflexibility of the rate of interest due to its monetary determination. The liquidity preference was the theoretical tool used to criticize the role of the rate of interest as adjusting investment and saving and to put forward an alternative theory of the rate of interest as a monetary phenomenon. ...
Bank of England Inflation Report November 2013 Prospects for
... Chart B Contributions to the news in the level of real GDP since the August 2010 Report(a) ...
... Chart B Contributions to the news in the level of real GDP since the August 2010 Report(a) ...
March 06 Forecasting Report
... with fewer political roadblocks… The United States continues its steady recovery with encouraging signs in the second half of 2013 as through-the-year growth to the December quarter accelerated to 2.5 per cent. While there have been concerns about the extent to which recent weak data reflects more t ...
... with fewer political roadblocks… The United States continues its steady recovery with encouraging signs in the second half of 2013 as through-the-year growth to the December quarter accelerated to 2.5 per cent. While there have been concerns about the extent to which recent weak data reflects more t ...
Economic growth
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Of more importance is the growth of the ratio of GDP to population (GDP per capita, which is also called per capita income). An increase in growth caused by more efficient use of inputs (such as physical capital, population, or territory) is referred to as intensive growth. GDP growth caused only by increases in the amount of inputs available for use is called extensive growth.In economics, ""economic growth"" or ""economic growth theory"" typically refers to growth of potential output, i.e., production at ""full employment"". As an area of study, economic growth is generally distinguished from development economics. The former is primarily the study of how countries can advance their economies. The latter is the study of the economic development process particularly in low-income countries.Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure.