3 Economic Environment of Business
... services will be produced. In a mixed economy, the national government makes production decisions for certain goods and services. For example, the post office, telephone system, schools, health care facilities, and public utilities are often owned and operated by governments. No country has a pure m ...
... services will be produced. In a mixed economy, the national government makes production decisions for certain goods and services. For example, the post office, telephone system, schools, health care facilities, and public utilities are often owned and operated by governments. No country has a pure m ...
On National Fiscal Policy and Growth
... Unambiguously, one of the most interesting aspects of the recent revival of growth theory is the focus on the long-run effects of economic policy as such are reflected in the wide cross-country dispersion in average rates of growth. Therefore, the role of public policy is central in generating long- ...
... Unambiguously, one of the most interesting aspects of the recent revival of growth theory is the focus on the long-run effects of economic policy as such are reflected in the wide cross-country dispersion in average rates of growth. Therefore, the role of public policy is central in generating long- ...
Production Possibilities, Opportunity Cost, and Economic Growth
... (Explain that investment in capital goods will increase future production possibilities because workers are more productive the more plant and equipment they have to work with. Emphasize that greater growth is illustrated as a rightward shift of the production possibilities curve.) Therefore, if we ...
... (Explain that investment in capital goods will increase future production possibilities because workers are more productive the more plant and equipment they have to work with. Emphasize that greater growth is illustrated as a rightward shift of the production possibilities curve.) Therefore, if we ...
View/Open
... necessary for growth to take place, and suggests that this result offers an explanation for the wide variation in growth rates observed among countries. The proposed solution for such a country is to engage in trade with other countries which has a large amount of human capital. The stimulus to grow ...
... necessary for growth to take place, and suggests that this result offers an explanation for the wide variation in growth rates observed among countries. The proposed solution for such a country is to engage in trade with other countries which has a large amount of human capital. The stimulus to grow ...
On global economic history A personal view on an agenda for future
... data is by using a logarithmic scale; this will show the changes in the growth of world population before the 18th century much more clearly. I suggest however to go one step further, and also introduce a logarithmic scale on the horizontal (time) axis. Statisticians and economic historians who have ...
... data is by using a logarithmic scale; this will show the changes in the growth of world population before the 18th century much more clearly. I suggest however to go one step further, and also introduce a logarithmic scale on the horizontal (time) axis. Statisticians and economic historians who have ...
Structural adjustment in East and Southeast Asia: lessons from Latin
... debts such as those in sub-Saharan Africa,1 Eastern Europe, and Latin America, but that they are inappropriate for the Asian NICs, which for the most part have had relatively small states and debts which are largely held by the private sector.2 We concur with the mainstream critics that the IMF's ap ...
... debts such as those in sub-Saharan Africa,1 Eastern Europe, and Latin America, but that they are inappropriate for the Asian NICs, which for the most part have had relatively small states and debts which are largely held by the private sector.2 We concur with the mainstream critics that the IMF's ap ...
IOSR Journal Of Humanities And Social Science (IOSR-JHSS)
... Evaluation of the Effects of Global Economic Meltdown on Nigerian Capital Market Development… This was largely fuelled by the growth in the non – oil sector before the sharp decline of 2008 made worse by the global economic meltdown. According to Osaze (2000) the Nigerian capital market constitutes ...
... Evaluation of the Effects of Global Economic Meltdown on Nigerian Capital Market Development… This was largely fuelled by the growth in the non – oil sector before the sharp decline of 2008 made worse by the global economic meltdown. According to Osaze (2000) the Nigerian capital market constitutes ...
Increasing intellectual capital
... ICT infrastructure, intellectual property. Social capital is defined by existing social norms, trust and social engagement, which through high quality relationships contributes to national well-being Relationship capital comprises country perception abroad, level of integration with global economy, ...
... ICT infrastructure, intellectual property. Social capital is defined by existing social norms, trust and social engagement, which through high quality relationships contributes to national well-being Relationship capital comprises country perception abroad, level of integration with global economy, ...
David Korten Book Review of Thomas Friedman`s "The
... debt. Meanwhile, imports of luxury goods -- paid for with borrowed dollars -- continued to rise unabated, fueling continued economic growth and creating an illusion of prosperity. In the early stages, payments due on foreign loans had been easily covered by new inflows. In its 1996 World Development ...
... debt. Meanwhile, imports of luxury goods -- paid for with borrowed dollars -- continued to rise unabated, fueling continued economic growth and creating an illusion of prosperity. In the early stages, payments due on foreign loans had been easily covered by new inflows. In its 1996 World Development ...
Macroeconomic stability and growth in Eastern Europe
... regarded as a crucial mechanism of technological diffusion: it provides access to state of the art technology, practices and knowhow to countries which are not capable yet of innovating and generating technological progress but may benefit, instead, of advances made elsewhere and transmitted via for ...
... regarded as a crucial mechanism of technological diffusion: it provides access to state of the art technology, practices and knowhow to countries which are not capable yet of innovating and generating technological progress but may benefit, instead, of advances made elsewhere and transmitted via for ...
Global Imbalances, Peak Oil, and the Next Global Economic Crisis
... the 1990s to the early 2000s. However, the US stabilizing role required the US run large current account deficits, which in turn required either the US private sector or the US government sector run large deficits. From the late 1990s to 2007, it was primarily the private sector that had driven the ...
... the 1990s to the early 2000s. However, the US stabilizing role required the US run large current account deficits, which in turn required either the US private sector or the US government sector run large deficits. From the late 1990s to 2007, it was primarily the private sector that had driven the ...
Co-ordination through an Asian lens
... structural economics, as depicted by Lin (2011, 2012a), can be characterized by three principles: (i) each country at a given time has a certain comparative advantage defined by the evolving potential of its endowment structure in the context of globalization; (ii) to best exploit its comparative ad ...
... structural economics, as depicted by Lin (2011, 2012a), can be characterized by three principles: (i) each country at a given time has a certain comparative advantage defined by the evolving potential of its endowment structure in the context of globalization; (ii) to best exploit its comparative ad ...
Facts of Growth
... Y = aggregate output. K = capital—the sum of all the machines, plants, and office buildings in the economy. N = labor—the number of workers in the economy. The aggregate production function F: how much output is produced for given quantities of capital and labor ...
... Y = aggregate output. K = capital—the sum of all the machines, plants, and office buildings in the economy. N = labor—the number of workers in the economy. The aggregate production function F: how much output is produced for given quantities of capital and labor ...
PDF - unu-wider - United Nations University
... structural economics, as depicted by Lin (2011, 2012a), can be characterized by three principles: (i) each country at a given time has a certain comparative advantage defined by the evolving potential of its endowment structure in the context of globalization; (ii) to best exploit its comparative ad ...
... structural economics, as depicted by Lin (2011, 2012a), can be characterized by three principles: (i) each country at a given time has a certain comparative advantage defined by the evolving potential of its endowment structure in the context of globalization; (ii) to best exploit its comparative ad ...
Principles of Economic Growth
... Hence, for the Cobb-Douglas specification of technology, each factor of production is paid a constant share (a for labor, 1-a for capital) of output. This is consistent with data for modern industrial economies, where labor receives 2/3 of total output, while capital receives 1/3. This also give ...
... Hence, for the Cobb-Douglas specification of technology, each factor of production is paid a constant share (a for labor, 1-a for capital) of output. This is consistent with data for modern industrial economies, where labor receives 2/3 of total output, while capital receives 1/3. This also give ...
Chapter 15 Learning Objectives Economic Growth Economic Growth
... • To increase your own human capital, you have to invest by not working for pay while you attend school. • Society also has to invest in libraries and teachers. • According to modern economic growth theorists, human capital is at least as important as physical capital, particularly when trying to ex ...
... • To increase your own human capital, you have to invest by not working for pay while you attend school. • Society also has to invest in libraries and teachers. • According to modern economic growth theorists, human capital is at least as important as physical capital, particularly when trying to ex ...
Economic Growth - Valdosta State University
... The Importance of Human Capital • Knowledge, ideas, and productivity are all tied together. One of the threads is the quality of the labor force. • Increases in the productivity of the labor force depend on increases in human capital. • Human capital is the knowledge and skills that people in the w ...
... The Importance of Human Capital • Knowledge, ideas, and productivity are all tied together. One of the threads is the quality of the labor force. • Increases in the productivity of the labor force depend on increases in human capital. • Human capital is the knowledge and skills that people in the w ...
Growth versus Redistribution Prabhat Patnaik
... sustained high growth, for otherwise there will be too little to distribute; hence all efforts must be concentrated now on achieving growth. Though their case has been spoilt somewhat by one of them making personal broadsides against Amartya Sen, who is alleged to hold a contrary view (on this more ...
... sustained high growth, for otherwise there will be too little to distribute; hence all efforts must be concentrated now on achieving growth. Though their case has been spoilt somewhat by one of them making personal broadsides against Amartya Sen, who is alleged to hold a contrary view (on this more ...
Download paper (PDF)
... financial flows. It is the latter which many fear as particularly destabilizing—and not conducive to growth. The fact that total flows (which include both short-term and long-term flows) have failed to produce the desired effects is perhaps particularly condemning: it has long been presumed that FDI ...
... financial flows. It is the latter which many fear as particularly destabilizing—and not conducive to growth. The fact that total flows (which include both short-term and long-term flows) have failed to produce the desired effects is perhaps particularly condemning: it has long been presumed that FDI ...
Theories of Development: A Comparative Analysis
... ment. Its most influential and outspoken advocate was the American economic historian Walt W. Rostow. According to the Rostow doctrine, the transition from underdevelopment to development can be described in terms of a series of steps or stages through which all countries must proceed. As Professor ...
... ment. Its most influential and outspoken advocate was the American economic historian Walt W. Rostow. According to the Rostow doctrine, the transition from underdevelopment to development can be described in terms of a series of steps or stages through which all countries must proceed. As Professor ...
Chapter 4
... • When transitioning from a planned to a market economy, the change can be sudden or gradual. – A “big bang” approach is one where all old institutions are replaced quickly by democracy and markets. – A “gradual” approach is one where the transition to a market economy occurs ...
... • When transitioning from a planned to a market economy, the change can be sudden or gradual. – A “big bang” approach is one where all old institutions are replaced quickly by democracy and markets. – A “gradual” approach is one where the transition to a market economy occurs ...
Education, technical progress, and economic growth: the case of
... industries contributed only 21%. Since the 1960s, Taiwan has been transformed into one of the few newly industrializing countries in the world. The contribution of industries to output has improved over time, averaging 32% in the 1960s, 42% in the 1970s, and 45% in the 1980s. On the other hand, the ...
... industries contributed only 21%. Since the 1960s, Taiwan has been transformed into one of the few newly industrializing countries in the world. The contribution of industries to output has improved over time, averaging 32% in the 1960s, 42% in the 1970s, and 45% in the 1980s. On the other hand, the ...
We live in a world of paradoxes and puzzles
... many measures, income gaps between rich and poor have widened, both within countries and between countries. Moreover perceived gaps in well-being often exaggerate these income gaps, because globalized information, television in particular, has made most poor people acutely aware of how the other hal ...
... many measures, income gaps between rich and poor have widened, both within countries and between countries. Moreover perceived gaps in well-being often exaggerate these income gaps, because globalized information, television in particular, has made most poor people acutely aware of how the other hal ...
Is it possible for an economy to grow forever
... If the economy experiences continuous technological progress, the economy will still arrive at an equilibrium level, and the growth will not continue.13 Technological progress makes each unit of labor more effective and serves to increase the effective labor supply in much the same way that populati ...
... If the economy experiences continuous technological progress, the economy will still arrive at an equilibrium level, and the growth will not continue.13 Technological progress makes each unit of labor more effective and serves to increase the effective labor supply in much the same way that populati ...
Uneven and combined development
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.