MURAYA NORMAN NJUGUNA - University of Nairobi
... insights and scholarly criticism. Their guidance was instrumental in shaping my thoughts and helped in accomplishing this research paper. To the entire School of Economics, your awesome dedication and commitment has been transformational and has provided the best environment for gaining knowledge an ...
... insights and scholarly criticism. Their guidance was instrumental in shaping my thoughts and helped in accomplishing this research paper. To the entire School of Economics, your awesome dedication and commitment has been transformational and has provided the best environment for gaining knowledge an ...
The Washington Consensus as Policy Prescription for Development
... macroeconomic stability, and that in most Latin American countries (the exceptions being Chile and Colombia) price stability had been undermined by excessive budget deficits. Ergo, the restoration of fiscal discipline was essential. My formulation focused on the need for sufficient fiscal discipline ...
... macroeconomic stability, and that in most Latin American countries (the exceptions being Chile and Colombia) price stability had been undermined by excessive budget deficits. Ergo, the restoration of fiscal discipline was essential. My formulation focused on the need for sufficient fiscal discipline ...
Research about Spillover Effect of Foreign Direct Invest
... reduces the cost of further training and raises the expected benefits. Competition is another important factor. Firms that are protected from international or domestic competition are less likely to invest in costly training programs. However, the evidence on spillovers from the MNC affiliates’ trai ...
... reduces the cost of further training and raises the expected benefits. Competition is another important factor. Firms that are protected from international or domestic competition are less likely to invest in costly training programs. However, the evidence on spillovers from the MNC affiliates’ trai ...
Introduction
... By integrating RAEM-Light into the framework of EcoRET the dynamic effects of regional level interventions (infrastructure, R&D and education support) are simulated both at the regional as well as the national levels. While the TFP sub-model incorporates agglomeration effects in a static manner the ...
... By integrating RAEM-Light into the framework of EcoRET the dynamic effects of regional level interventions (infrastructure, R&D and education support) are simulated both at the regional as well as the national levels. While the TFP sub-model incorporates agglomeration effects in a static manner the ...
11 update of the luxembourg stability and growth programme for the
... economic situation. During this period, economic growth will fluctuate around 3% annually, which corresponds to the new level of potential growth. Consequently, it should be noted that economic growth in 2010-2014 will be well below the average economic growth during the period 1990-2009 (+4.2%). In ...
... economic situation. During this period, economic growth will fluctuate around 3% annually, which corresponds to the new level of potential growth. Consequently, it should be noted that economic growth in 2010-2014 will be well below the average economic growth during the period 1990-2009 (+4.2%). In ...
Swedbank Economic Outlook, January 2017
... different factors: political risk and interest rate expectations. The dollar strength that we have seen in the currency market started even before the outcome of the US election and was a natural effect of higher interest rate expectations. Despite uncertainty about how much of Trump’s fiscal policy ...
... different factors: political risk and interest rate expectations. The dollar strength that we have seen in the currency market started even before the outcome of the US election and was a natural effect of higher interest rate expectations. Despite uncertainty about how much of Trump’s fiscal policy ...
of GDP - Casa Asia
... • Developing Asia is in catch-up mode and there is still a large scope for efficiency improvement through reforms and adoption of new technology, leading to a potential increase in productivity • Demographic outlook is positive, dependency ratio will come down in most economies, savings rate will st ...
... • Developing Asia is in catch-up mode and there is still a large scope for efficiency improvement through reforms and adoption of new technology, leading to a potential increase in productivity • Demographic outlook is positive, dependency ratio will come down in most economies, savings rate will st ...
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... by shifting them abroad (Murdoch and Sandler 2004). According to Knight, Loayza and Villanueva (1996) and Collier et al. (2003), the GDP share of military expenditure grows from 2.8 percent to 5.0 percent on average, while the additional increase in military spending by 2.2 percent of GDP, sustained ...
... by shifting them abroad (Murdoch and Sandler 2004). According to Knight, Loayza and Villanueva (1996) and Collier et al. (2003), the GDP share of military expenditure grows from 2.8 percent to 5.0 percent on average, while the additional increase in military spending by 2.2 percent of GDP, sustained ...
full version pdf of speech here
... quite small investments. Actually we know that most successful university cluster spin-outs have been led by older scientists with a good deal of research under their belts, but even so clusters are a natural extension of research university facilities. Cambridge has a pretty successful cluster, whi ...
... quite small investments. Actually we know that most successful university cluster spin-outs have been led by older scientists with a good deal of research under their belts, but even so clusters are a natural extension of research university facilities. Cambridge has a pretty successful cluster, whi ...
Global Determinants of Defense Budgets: Economic
... those resources to protection of that production. From this perspective, resources allocated to defense or to security are themselves no less potentially productive than resources allocated to direct economic activities. Defending persons and property, however, has its dark side. Powers of enforceme ...
... those resources to protection of that production. From this perspective, resources allocated to defense or to security are themselves no less potentially productive than resources allocated to direct economic activities. Defending persons and property, however, has its dark side. Powers of enforceme ...
in 2005 to 3 per cent GDP in 2006 and... that there was a greater measure of structural
... years, giving some breathing space to the Fiji garment industry. However, the value of this access will decline as Australia lowers its tariffs in line with the global WTO agreement. The Government of Fiji is requesting the Government of Australia to lower local content requirements under the SPARTE ...
... years, giving some breathing space to the Fiji garment industry. However, the value of this access will decline as Australia lowers its tariffs in line with the global WTO agreement. The Government of Fiji is requesting the Government of Australia to lower local content requirements under the SPARTE ...
Economic Growth vs
... Our society is indeed more consumption-driven than production-led and as a consequence social and economic changes can be identified through consumption patterns. As a matter of fact, ‘standard of living’ refers to different aspects of a typical household’s everyday life that may be adequately appr ...
... Our society is indeed more consumption-driven than production-led and as a consequence social and economic changes can be identified through consumption patterns. As a matter of fact, ‘standard of living’ refers to different aspects of a typical household’s everyday life that may be adequately appr ...
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... structurally too low national saving rate and the associated too high current account deficits, it is most likely that the US economy will continue to underperform relative to Figure 1.1 other parts of the world and its own history in the years to come. As in many parts of the world, the sharp hike ...
... structurally too low national saving rate and the associated too high current account deficits, it is most likely that the US economy will continue to underperform relative to Figure 1.1 other parts of the world and its own history in the years to come. As in many parts of the world, the sharp hike ...
Bank of England Inflation Report May 2013
... Charts 5.3 and 5.4 depict the probability of various outcomes for CPI inflation in the future. They have been conditioned on the assumption that the stock of purchased assets financed by the issuance of central bank reserves remains at £375 billion throughout the forecast period. If economic circums ...
... Charts 5.3 and 5.4 depict the probability of various outcomes for CPI inflation in the future. They have been conditioned on the assumption that the stock of purchased assets financed by the issuance of central bank reserves remains at £375 billion throughout the forecast period. If economic circums ...
Patterns of agricultural growth and overall growth in Uganda
... This study investigates the pattern of agricultural growth and overall growth of Ugandan economy. The significance of economic structure gained prominence through the seminal work of Lewis (1954) and other subsequent researchers that include, Kuznets(1966,1971), Chenery and Syrquin(1975) and Lance ...
... This study investigates the pattern of agricultural growth and overall growth of Ugandan economy. The significance of economic structure gained prominence through the seminal work of Lewis (1954) and other subsequent researchers that include, Kuznets(1966,1971), Chenery and Syrquin(1975) and Lance ...
Does the United States Have a Productivity Slowdown or a
... 1/10th percentage point (10 bp) per year from 1995 to 2004. Hence, the “other” bar contributes negatively in 1995-2004 in Figure 1. Fracking, on the other side, boosts productivity growth by about 5 bp after 2004. Together, these adjustments shave about 1/10th percentage point from growth in the 199 ...
... 1/10th percentage point (10 bp) per year from 1995 to 2004. Hence, the “other” bar contributes negatively in 1995-2004 in Figure 1. Fracking, on the other side, boosts productivity growth by about 5 bp after 2004. Together, these adjustments shave about 1/10th percentage point from growth in the 199 ...
the effects of business cycles on growth
... these phenomena are driven by the same macroeconomic variables, the interaction between economic fluctuations and growth has been largely ignored in the academic literature. The main reason for this lack of attention is the surprising stability of long-term growth rates and their apparent independen ...
... these phenomena are driven by the same macroeconomic variables, the interaction between economic fluctuations and growth has been largely ignored in the academic literature. The main reason for this lack of attention is the surprising stability of long-term growth rates and their apparent independen ...
Chapter 5 CONVERGENCE IN THE NEOCLASSICAL MODEL
... capital exhibits diminishing returns (α<1), an economy with lower capitallabor ratio exhibits a higher marginal product of capital and thus, grows faster compared to a similar economy with a higher capital-labor ratio. Hence, the differences across countries will tend to fade out over time, with per ...
... capital exhibits diminishing returns (α<1), an economy with lower capitallabor ratio exhibits a higher marginal product of capital and thus, grows faster compared to a similar economy with a higher capital-labor ratio. Hence, the differences across countries will tend to fade out over time, with per ...
as a PDF
... Such cases are distortionary taxes, a shift from public to private activities (which are assumed to be more productive), or a reduction in ”unproductive” public spending like government wages or transfers 1 . Alesina and Ardagna (1998) stress an effect on labour markets. The argument is that higher ...
... Such cases are distortionary taxes, a shift from public to private activities (which are assumed to be more productive), or a reduction in ”unproductive” public spending like government wages or transfers 1 . Alesina and Ardagna (1998) stress an effect on labour markets. The argument is that higher ...
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.