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globalisation and convergence
... poorest relative to the richest countries. Regression 3 confirms that the usual suspects were involved – investment rates and demographic differences accounted for 1.3 percentage points of slower growth for the poor countries. Taking account of factor accumulation, and of the differential effects of ...
... poorest relative to the richest countries. Regression 3 confirms that the usual suspects were involved – investment rates and demographic differences accounted for 1.3 percentage points of slower growth for the poor countries. Taking account of factor accumulation, and of the differential effects of ...
Press summary (PDF, 216 KB)
... All in all, gross domestic product is expected to rise by 1.6 percent this year and by 1.5 percent in 2017 ‐ rates that are slightly higher than growth in production potential. The output gap is expected to narrow further in 2016 and to almost close in 2017. The 68 percent projection in‐ terval f ...
... All in all, gross domestic product is expected to rise by 1.6 percent this year and by 1.5 percent in 2017 ‐ rates that are slightly higher than growth in production potential. The output gap is expected to narrow further in 2016 and to almost close in 2017. The 68 percent projection in‐ terval f ...
Business Environment Characteristics
... Relative growth/decline – a sector is doing better/worse compared with ...
... Relative growth/decline – a sector is doing better/worse compared with ...
Attempts to eXpLAin the "AsiA`s mirACLe” BY FACtor theorY. roLe
... From the data in the table below, it is not obvious that the level of education of the population depends on the level of development of institutes of civil society and on specialization of economy. We can say that we detect a weak connection between the level of education, percentage of people havi ...
... From the data in the table below, it is not obvious that the level of education of the population depends on the level of development of institutes of civil society and on specialization of economy. We can say that we detect a weak connection between the level of education, percentage of people havi ...
Economics In A Full World
... recipes on the Internet. Even the wealthy spend most of their income on cars, houses and trips rather than on intangibles. The financial sector. In a sustainable economy, the lack of growth would most likely cause interest rates to fall. The financial sector would probably shrink, because low intere ...
... recipes on the Internet. Even the wealthy spend most of their income on cars, houses and trips rather than on intangibles. The financial sector. In a sustainable economy, the lack of growth would most likely cause interest rates to fall. The financial sector would probably shrink, because low intere ...
Economic Concepts for Statisticians
... This module will provide students with a basic understanding of economic concepts that form part of the body of knowledge that decision makers use when interpreting national statistics. It must be acknowledged that the purpose of the whole training programme is to improve statistical capacity and th ...
... This module will provide students with a basic understanding of economic concepts that form part of the body of knowledge that decision makers use when interpreting national statistics. It must be acknowledged that the purpose of the whole training programme is to improve statistical capacity and th ...
ch7&8 (Part II)
... countries would shrink over time, and living standards “converge.” In real world, many poor countries do NOT grow faster than rich ones. That is, absolute (or unconditional) convergence is not generally observed. Does this mean the Solow model fails? ...
... countries would shrink over time, and living standards “converge.” In real world, many poor countries do NOT grow faster than rich ones. That is, absolute (or unconditional) convergence is not generally observed. Does this mean the Solow model fails? ...
Macroeconomics Series (3): Economic Growth and Development
... We cannot easily argue that a nation of high‐income individuals who are not well educated and suffer from significant health problems that lead to their living much shorter lives than others around the globe has achieved a higher level of development than a low‐income country ...
... We cannot easily argue that a nation of high‐income individuals who are not well educated and suffer from significant health problems that lead to their living much shorter lives than others around the globe has achieved a higher level of development than a low‐income country ...
... transport prices index. The category exerting the strongest upward pressure on prices was food and nonalcoholic beverages (2.48%), owing to a drought that hurt food production in some parts of the country. The national employment rate rose from 53.1% to 54.0%; but an even greater increase in labour ...
What are the Emerging Markets?
... Mr. Sharma has two important and general points to make. First, the period of 2003-2007, in which there was incredible growth throughout the emerging world, is gone. It was an unusual period not likely to be repeated. Second, we must no longer think of these economies as homogeneous groupings, as p ...
... Mr. Sharma has two important and general points to make. First, the period of 2003-2007, in which there was incredible growth throughout the emerging world, is gone. It was an unusual period not likely to be repeated. Second, we must no longer think of these economies as homogeneous groupings, as p ...
Jamaica_en.pdf
... international rating agencies to downgrade the country’s sovereign rating. The economy is expected to contract by 3% in 2009 with a slow recovery in 2010, when growth is projected to reach 1%. ...
... international rating agencies to downgrade the country’s sovereign rating. The economy is expected to contract by 3% in 2009 with a slow recovery in 2010, when growth is projected to reach 1%. ...
Slide 1
... The atmosphere of the earth can be compared to the glass of a green house, allowing the sun’s visible rays to enter and warm the land, plants, water and air. As radiation from the sun enter Earth’s atmosphere a portion of it is reflected back into the space or absorbed directly by the atmosphere. Ab ...
... The atmosphere of the earth can be compared to the glass of a green house, allowing the sun’s visible rays to enter and warm the land, plants, water and air. As radiation from the sun enter Earth’s atmosphere a portion of it is reflected back into the space or absorbed directly by the atmosphere. Ab ...
Chapter 2
... profound pessimism about Russian economic reform that I had in the fall of 1998, and that if you had said that by 2003, they would be issuing Eurobonds at300 basis points spreads, I would have thought that its was absolute madness. Lawrence Summers, in Practitioners in Development ...
... profound pessimism about Russian economic reform that I had in the fall of 1998, and that if you had said that by 2003, they would be issuing Eurobonds at300 basis points spreads, I would have thought that its was absolute madness. Lawrence Summers, in Practitioners in Development ...
Chapter 2 1Notes - Period2BusinessBasicsFall2014
... Cyclical – the entire economy slows down Try finding our current unemployment rate ...
... Cyclical – the entire economy slows down Try finding our current unemployment rate ...
The State of the Global Economy: an Agenda for Job Creation
... α is productivity in agriculture, Dij is demand from those in sector i for goods from sector j w* is the (fixed) efficiency wage in the urban sector, I is the level of investment (assumed to be industrial goods), p is the price of agricultural goods in terms of manufactured goods, which is chosen as ...
... α is productivity in agriculture, Dij is demand from those in sector i for goods from sector j w* is the (fixed) efficiency wage in the urban sector, I is the level of investment (assumed to be industrial goods), p is the price of agricultural goods in terms of manufactured goods, which is chosen as ...
Why Did We Have a Golden Age
... can only briefly summarize here. First, it tends to introduce inflationary pressures, since at the aggregate level prices of consumer goods must be marked-up over the wage bill required to produce those goods so that the workers that produced them cannot consume all of them—this leaves consumption g ...
... can only briefly summarize here. First, it tends to introduce inflationary pressures, since at the aggregate level prices of consumer goods must be marked-up over the wage bill required to produce those goods so that the workers that produced them cannot consume all of them—this leaves consumption g ...
... The role of foreign direct investments in promoting economic growth has been the subject of much debate among development specialists, researchers, aid donors as well as recipients in general and Kenya in particular. In spite of this, there are only few empirical studies that investigate the contrib ...
GDP Review
... Gross Domestic Product (GDP) • The Gross Domestic Product is the dollar value of all final goods and services produced within a country’s borders in a given year. • In order for a good to be included in a nation’s GDP, it must be made in that country. • It doesn’t matter if the factory is owned by ...
... Gross Domestic Product (GDP) • The Gross Domestic Product is the dollar value of all final goods and services produced within a country’s borders in a given year. • In order for a good to be included in a nation’s GDP, it must be made in that country. • It doesn’t matter if the factory is owned by ...
Overview - International Association for Energy Economics
... This study examines causal relationships between energy consumption, human capital and GDP in five ASEAN economies over a period of 1965-2011 using the aggregate production function that considers physical capital, labor, human capital and energy. The relationship between energy consumption and econ ...
... This study examines causal relationships between energy consumption, human capital and GDP in five ASEAN economies over a period of 1965-2011 using the aggregate production function that considers physical capital, labor, human capital and energy. The relationship between energy consumption and econ ...
Spring 2009
... (d) A decrease in productivity. 4. An earthquake destroys a good portion of the capital stock. How would you expect this to affect the capital-labor ratio in the long run? There would be: (a) a rightward movement along the saving-per-worker curve and an increase in the capital-labor ratio. (b) no ch ...
... (d) A decrease in productivity. 4. An earthquake destroys a good portion of the capital stock. How would you expect this to affect the capital-labor ratio in the long run? There would be: (a) a rightward movement along the saving-per-worker curve and an increase in the capital-labor ratio. (b) no ch ...
TaiwanEconomy - Kleykamp in Taiwan
... 80% of households in Taiwan wished their children could become civil servants. This is very Confucian and is nearly impossible to understand using Western concepts. However, it speaks volumes about people’s attitudes about the role of government in Taiwan. Every economic analysis of Taiwan must be s ...
... 80% of households in Taiwan wished their children could become civil servants. This is very Confucian and is nearly impossible to understand using Western concepts. However, it speaks volumes about people’s attitudes about the role of government in Taiwan. Every economic analysis of Taiwan must be s ...
Russia Recent Economic Developments and Medium
... I. The worst global crisis since WWII • Global demand, output, trade, industrial production (especially manufacturing), capital flows collapsing around the world since November 2008 • Highly synchronized, global crisis • Trends continue in early 2009 Industrial Production, annual % change 3-month m ...
... I. The worst global crisis since WWII • Global demand, output, trade, industrial production (especially manufacturing), capital flows collapsing around the world since November 2008 • Highly synchronized, global crisis • Trends continue in early 2009 Industrial Production, annual % change 3-month m ...
Unit 4 Overview
... The accumulation of capital is subject to diminishing returns: the more capital an economy has, the less additional output the economy gets from an extra unit of capital. As a result, although higher saving leads to higher growth for a period of time, growth eventually slows down as the economy appr ...
... The accumulation of capital is subject to diminishing returns: the more capital an economy has, the less additional output the economy gets from an extra unit of capital. As a result, although higher saving leads to higher growth for a period of time, growth eventually slows down as the economy appr ...
Economic growth
![](https://commons.wikimedia.org/wiki/Special:FilePath/Gdp_accumulated_change.png?width=300)
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.