![two centuries of convergence?](http://s1.studyres.com/store/data/005275342_1-81d08c9dcadb3acb51081dc1c09c6206-300x300.png)
two centuries of convergence?
... onto the escalator of modern economic growth. Yet relative differences across national economies in productivity levels are greater than ever before. Why has the "convergence club" of countries whose economies are converging and closing the relative gap vis-à-vis the productivity levels, technology ...
... onto the escalator of modern economic growth. Yet relative differences across national economies in productivity levels are greater than ever before. Why has the "convergence club" of countries whose economies are converging and closing the relative gap vis-à-vis the productivity levels, technology ...
Civil war and post conflict reconstruction in Africa
... accumulate the country's wealth for personal gain at the expense of other groups holding a similar claim to political power and its spoils. This has been observed both in resource-rich and resource-poor countries. In a poor country like Burundi, Nkurunziza and Ngaruko (2008) show how the cycle of vi ...
... accumulate the country's wealth for personal gain at the expense of other groups holding a similar claim to political power and its spoils. This has been observed both in resource-rich and resource-poor countries. In a poor country like Burundi, Nkurunziza and Ngaruko (2008) show how the cycle of vi ...
Secular Stagnation or Stagnation Policy? Steindl after Summers
... of interest equalizing saving and investment in the capital market at full employment output levels, which, however, may not be feasible. This constellation is vulnerable to critique from the “Cambridge controversies in the theory of capital,” questioning an interest rate-inverse and continuously do ...
... of interest equalizing saving and investment in the capital market at full employment output levels, which, however, may not be feasible. This constellation is vulnerable to critique from the “Cambridge controversies in the theory of capital,” questioning an interest rate-inverse and continuously do ...
When Does Domestic Saving Matter for Economic
... results mainly from innovations that allow local sectors to catch up with the current frontier technology. But catching up with the frontier in any sector requires the involvement of a foreign investor, who is familiar with the frontier technology, together with effort on the part of a local entrepr ...
... results mainly from innovations that allow local sectors to catch up with the current frontier technology. But catching up with the frontier in any sector requires the involvement of a foreign investor, who is familiar with the frontier technology, together with effort on the part of a local entrepr ...
Putting Power Back Into Growth Theory
... that if one assumes that production exhibits constant returns to scale, then Euler’s theorem could be used to ‘prove’ that each factor receives payment in exact accordance with its marginal productivity, thus solving the ‘adding up’ problem.3 As a result of this theorem, neoclassical growth theory ( ...
... that if one assumes that production exhibits constant returns to scale, then Euler’s theorem could be used to ‘prove’ that each factor receives payment in exact accordance with its marginal productivity, thus solving the ‘adding up’ problem.3 As a result of this theorem, neoclassical growth theory ( ...
Putting Power Back into Growth Theory
... that if one assumes that production exhibits constant returns to scale, then Euler’s theorem could be used to ‘prove’ that each factor receives payment in exact accordance with its marginal productivity, thus solving the ‘adding up’ problem.3 As a result of this theorem, neoclassical growth theory ( ...
... that if one assumes that production exhibits constant returns to scale, then Euler’s theorem could be used to ‘prove’ that each factor receives payment in exact accordance with its marginal productivity, thus solving the ‘adding up’ problem.3 As a result of this theorem, neoclassical growth theory ( ...
Economic Growth in a Cross Section of Countries
... of human capital makes it easier for a country to absorb the new products or ideas that have been discovered elsewhere. Therefore, a follower country with more human capital tends to grow faster because it catches up more rapidly to the technological leader. Becker, Murphy, and Tamura [I9901 assume ...
... of human capital makes it easier for a country to absorb the new products or ideas that have been discovered elsewhere. Therefore, a follower country with more human capital tends to grow faster because it catches up more rapidly to the technological leader. Becker, Murphy, and Tamura [I9901 assume ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... the same time. Moreover, ideas are cumulative: The idea of electronic computing has lead to the idea of quantum computing, which may in turn lead to yet further ideas. Analysis of these attributes of nonrivalry and cumulative feedback has led growth theorists to speculate that investment in the gene ...
... the same time. Moreover, ideas are cumulative: The idea of electronic computing has lead to the idea of quantum computing, which may in turn lead to yet further ideas. Analysis of these attributes of nonrivalry and cumulative feedback has led growth theorists to speculate that investment in the gene ...
doc
... • economic history: • the textbook covers economic growth from about 1500 to the present • 1500 is commonly used as a starting point because colonization began around this time and modern capitalist institutions/market economies started to develop • economic historians estimate that at around 1500 t ...
... • economic history: • the textbook covers economic growth from about 1500 to the present • 1500 is commonly used as a starting point because colonization began around this time and modern capitalist institutions/market economies started to develop • economic historians estimate that at around 1500 t ...
Natural Capital, Investment, and Economic Growth
... Natural resources are a fixed factor of production and hence, almost by definition, impose a restriction on economic growth potential. This restriction may – depending on the nature of the production technology – cause a growing labour force and a growing stock of capital to run into diminishing ret ...
... Natural resources are a fixed factor of production and hence, almost by definition, impose a restriction on economic growth potential. This restriction may – depending on the nature of the production technology – cause a growing labour force and a growing stock of capital to run into diminishing ret ...
Research about Spillover Effect of Foreign Direct Invest
... Most MNCs provide some training for their employees, although the amount and type vary depending on industry, mode of entry, size and time horizon of investment, type of operations, and local conditions. The level of the host country employees general and cognitive skills is a particularly important ...
... Most MNCs provide some training for their employees, although the amount and type vary depending on industry, mode of entry, size and time horizon of investment, type of operations, and local conditions. The level of the host country employees general and cognitive skills is a particularly important ...
The Interrelationship between Democracy and Economic Growth
... 1984 to 2003 and measures how responsive a government is to its people (Tang and Yung, 2005). Fifth, the Arat index provides a data set from 1950 to 1982 and measures the concept of public control of the government by using four variables, which are participation, inclusiveness, competitiveness, and ...
... 1984 to 2003 and measures how responsive a government is to its people (Tang and Yung, 2005). Fifth, the Arat index provides a data set from 1950 to 1982 and measures the concept of public control of the government by using four variables, which are participation, inclusiveness, competitiveness, and ...
University of Groningen Capital flight and the uncertainty of
... that hit these countries stimulated massive outflows of capital. Capital flight from these countries appeared to be voluminous in absolute terms. This posed a threat to national solvency and economic growth perspectives. From the end of the 1980s and early 1990s the debt crisis appeared to be solved ...
... that hit these countries stimulated massive outflows of capital. Capital flight from these countries appeared to be voluminous in absolute terms. This posed a threat to national solvency and economic growth perspectives. From the end of the 1980s and early 1990s the debt crisis appeared to be solved ...
Growth, Productivity, and Income - Peterson Institute for International
... countries. However, in some of the highly oil-dependent economies, a decline in real income may have negated, in local perception, improved education and health. The recent spectacular increase in oil prices has changed some of these results not only for producers of oil but also for surrounding eco ...
... countries. However, in some of the highly oil-dependent economies, a decline in real income may have negated, in local perception, improved education and health. The recent spectacular increase in oil prices has changed some of these results not only for producers of oil but also for surrounding eco ...
Equation 4 - Erasmus University Thesis Repository
... developing countries and world development organizations. If more and better education would lead to higher economic growth, it could be especially beneficial to invest in education in developing countries. Different development organizations like Oxfam Novib invest in projects to improve education, ...
... developing countries and world development organizations. If more and better education would lead to higher economic growth, it could be especially beneficial to invest in education in developing countries. Different development organizations like Oxfam Novib invest in projects to improve education, ...
Ch 25 PPT
... • Natural resources (N): the inputs into production that nature provides, e.g., land, mineral deposits • Other things equal, more N allows a country to produce more Y. In per-worker terms, an increase in N/L causes an increase in Y/L. • Some countries are rich because they have abundant natural reso ...
... • Natural resources (N): the inputs into production that nature provides, e.g., land, mineral deposits • Other things equal, more N allows a country to produce more Y. In per-worker terms, an increase in N/L causes an increase in Y/L. • Some countries are rich because they have abundant natural reso ...
Supply-Side Factors of Economic Growth in Bulgaria
... macroeconomic policymakers had to focus not on achieving a balanced proportional growth but on decreasing the big differences in annual growth rates. Pirimova (2014) put more emphasis on the analysis of business cycle and its features than on economic growth. Unlike other authors, which assumed a cl ...
... macroeconomic policymakers had to focus not on achieving a balanced proportional growth but on decreasing the big differences in annual growth rates. Pirimova (2014) put more emphasis on the analysis of business cycle and its features than on economic growth. Unlike other authors, which assumed a cl ...
Significance of globalization in economic
... One of the normative theorists in the field of political science, John Rawls, states that a country's prosperity depends not on natural pool but the ability of people to develop their talents. In this situation, although Kosovo has underground wealth, territory and power as a state and a young popul ...
... One of the normative theorists in the field of political science, John Rawls, states that a country's prosperity depends not on natural pool but the ability of people to develop their talents. In this situation, although Kosovo has underground wealth, territory and power as a state and a young popul ...
MICHAL KALECKI
... If Kalecki had written nothing besides his theory of profits, he would still have deserved a relevant place amongst twentieth-century economists. But he gave us much more than that, developing his economic theory of the capitalist economy in many directions. In the first place, he demonstrated that ...
... If Kalecki had written nothing besides his theory of profits, he would still have deserved a relevant place amongst twentieth-century economists. But he gave us much more than that, developing his economic theory of the capitalist economy in many directions. In the first place, he demonstrated that ...
NBER WORKING PAPER SERIES OF THE CHINESE ECONOMY
... This evidence suggests that intangible capital formation may play an important role in China’s reform-driven transformation to a more market-oriented open economy. The privatization of many state-owned enterprises requires an investment in new organizational capabilities and business models, as doe ...
... This evidence suggests that intangible capital formation may play an important role in China’s reform-driven transformation to a more market-oriented open economy. The privatization of many state-owned enterprises requires an investment in new organizational capabilities and business models, as doe ...
A Global Economy with Multiple Growth Poles
... knowledge sharing, and the World Bank can be a knowledge exchange to facilitate the process of sharing development experiences. In summary, the G-20 could help design and implement a mutually beneficial strategy to achieve sustained global recovery: a framework whereby policy coordination, knowledge ...
... knowledge sharing, and the World Bank can be a knowledge exchange to facilitate the process of sharing development experiences. In summary, the G-20 could help design and implement a mutually beneficial strategy to achieve sustained global recovery: a framework whereby policy coordination, knowledge ...
Natural Disasters – A Macroeconomic Perspective
... businesses and for people in their everyday life. Indirect losses are often measured by the changes observed in total GDP after a natural disaster, however, it has been discussed whether if it is really credible or not. This is because some people do not consider GDP to be a good proxy variable for ...
... businesses and for people in their everyday life. Indirect losses are often measured by the changes observed in total GDP after a natural disaster, however, it has been discussed whether if it is really credible or not. This is because some people do not consider GDP to be a good proxy variable for ...
Democracy, Political Stability, and Developing Country Growth
... Many studies have been conducted on the relationship between democracy and growth. The general understanding of the relationship between economic growth and democracy is that democracy fosters economic growth relative to non-democracies in a given country. Nevertheless this theory has come under the ...
... Many studies have been conducted on the relationship between democracy and growth. The general understanding of the relationship between economic growth and democracy is that democracy fosters economic growth relative to non-democracies in a given country. Nevertheless this theory has come under the ...
Factor Accumulation and the Determinants of TFP in the
... GDP growth in the GCC has been considerably higher than in advanced economies or other oil exporters since 1986. The paper shows that the GCC countries have swiftly accumulated large stocks of physical capital but the population increase and the shift away from oil meant that capital intensity actua ...
... GDP growth in the GCC has been considerably higher than in advanced economies or other oil exporters since 1986. The paper shows that the GCC countries have swiftly accumulated large stocks of physical capital but the population increase and the shift away from oil meant that capital intensity actua ...
Capital Markets, Infrastructure Investment and Growth in the Asia
... rules. Section 5 examines the relationship between capital market development and economic growth. The conclusion attempts to summarize the findings of each part and identify future directions for this research. 2. Infrastructure and Its Financing In developing and transition economies, government p ...
... rules. Section 5 examines the relationship between capital market development and economic growth. The conclusion attempts to summarize the findings of each part and identify future directions for this research. 2. Infrastructure and Its Financing In developing and transition economies, government p ...
Uneven and combined development
![](https://commons.wikimedia.org/wiki/Special:FilePath/Puerto_del_Huasco.jpg?width=300)
Uneven and combined development (or unequal and combined development) is a Marxist concept to describe the overall dynamics of human history. It was originally used by the Russian revolutionary Leon Trotsky around the turn of the 20th century, when he was analyzing the developmental possibilities that existed for the economy and civilization in the Russian empire, and the likely future of the Tsarist regime in Russia. It was the basis of his political strategy of permanent revolution, which implied a rejection of the idea that a human society inevitably developed through a uni-linear sequence of necessary ""stages"". Trotsky's ideas matured under the influence of Georg Vollmar's study of a possibility of socialism in one country, as well as John Hobson, Rudolf Hilferding and Vladimir Lenin's studies of imperialism. Also before Trotsky, Nikolay Chernyshevsky and Vasily Vorontsov proposed a similar idea. The concept is still used today by Trotskyists and other Marxists concerned with world politics.