The Global Economic Environment
... B) production has become "uncoupled" from employment. C) the world economy dominates the scene. D) the struggle between capitalism and socialism continues. E) the growth of e-commerce diminishes the importance of national barriers. Answer: D ...
... B) production has become "uncoupled" from employment. C) the world economy dominates the scene. D) the struggle between capitalism and socialism continues. E) the growth of e-commerce diminishes the importance of national barriers. Answer: D ...
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... estimates. In general, outflows of illicit capital of US$14 billion per annum are around two to three times lower than broad capital flight estimates found by previous researchers. We also compare our estimates of gross illicit flows from Russia against the Central Bank of Russia’s estimates of broa ...
... estimates. In general, outflows of illicit capital of US$14 billion per annum are around two to three times lower than broad capital flight estimates found by previous researchers. We also compare our estimates of gross illicit flows from Russia against the Central Bank of Russia’s estimates of broa ...
Explaining Postcommunist Economic Performance
... the decision to pursue Shock Therapy -- and especially all three components -- within a relatively brief period. These policies, when carried out in the absence of large-scale foreign direct investment and/or cooperative production arrangements with multinationals, “derails” the postcommunist transi ...
... the decision to pursue Shock Therapy -- and especially all three components -- within a relatively brief period. These policies, when carried out in the absence of large-scale foreign direct investment and/or cooperative production arrangements with multinationals, “derails” the postcommunist transi ...
A stylized satellite account for human capital
... training/courses that is the genuine producer of human capital. The former only provides education services that are used as one of the production inputs for the latter. Since another fundamental input is own labor services, human capital produced and embodied in the individual is regarded as being ...
... training/courses that is the genuine producer of human capital. The former only provides education services that are used as one of the production inputs for the latter. Since another fundamental input is own labor services, human capital produced and embodied in the individual is regarded as being ...
- LSE Research Online
... So what accounts for the large differences in efficiency between countries? These efficiency differences are about how the production factors and technology are combined. In our view efficiency differences come from differences in institutions as they set the rules of the game and from entrepreneurs ...
... So what accounts for the large differences in efficiency between countries? These efficiency differences are about how the production factors and technology are combined. In our view efficiency differences come from differences in institutions as they set the rules of the game and from entrepreneurs ...
DOCUMENTOS DE TRABAJO Serie Economía EPL AND CAPITAL-LABOR RATIOS
... productivity and growth: Hopenhayn and Rogerson (1993) and Bertola (1994) argue that productivity is lower because of a misalloaction of employment to technologies, favoring less productive structures, leading to reduced incentives for capital accumulation. Bassanini et al. (2009) empirically docume ...
... productivity and growth: Hopenhayn and Rogerson (1993) and Bertola (1994) argue that productivity is lower because of a misalloaction of employment to technologies, favoring less productive structures, leading to reduced incentives for capital accumulation. Bassanini et al. (2009) empirically docume ...
Intermediate Macroeconomics: Economic Growth and the Solow
... total output which ends up being sold to the household (this is in real terms and we are completely abstracting from money, meaning everything is denominated in units of goods, e.g. fruit). Total cost is the wage bill plus the capital bill. Let wt be the real wage rate – it is the number of goods th ...
... total output which ends up being sold to the household (this is in real terms and we are completely abstracting from money, meaning everything is denominated in units of goods, e.g. fruit). Total cost is the wage bill plus the capital bill. Let wt be the real wage rate – it is the number of goods th ...
Social Provisioning, Embeddedness and Modeling the Economy
... The Provisioning Process in the History of Economic Analysis The first attempts, by the mercantilists in the 16th and 17th centuries, to describe how market economies work were necessarily primitive, and with few exceptions (for example, Mun 1664) barely scratched the surface of the problem. Focuse ...
... The Provisioning Process in the History of Economic Analysis The first attempts, by the mercantilists in the 16th and 17th centuries, to describe how market economies work were necessarily primitive, and with few exceptions (for example, Mun 1664) barely scratched the surface of the problem. Focuse ...
Geneva UNRISD 2008 6
... Social development is an integral part of economic growth. Social capital, therefore, needs to be included among the several different kinds of capital the accumulation and efficiency of which drive long-run economic growth. This paper begins by noting the rather limited space that political and soc ...
... Social development is an integral part of economic growth. Social capital, therefore, needs to be included among the several different kinds of capital the accumulation and efficiency of which drive long-run economic growth. This paper begins by noting the rather limited space that political and soc ...
Institutional Persistence or Reform
... political competition and economic liberalization is reciprocal. Comprehensive economic reform dissociates economic power from political power and encourages the two to balance each other. The logic behind this reasoning is that economic liberalization fosters individual and group independence, ther ...
... political competition and economic liberalization is reciprocal. Comprehensive economic reform dissociates economic power from political power and encourages the two to balance each other. The logic behind this reasoning is that economic liberalization fosters individual and group independence, ther ...
NBER WORKING PAPER SERIES THE FELDSTEIN-HORIOKA FACT Domenico Giannone Michele Lenza
... However, general equilibrium explanations of the Feldstein-Horioka finding never found adequate empirical support since the saving-investment correlation does not decrease when controlling for global shocks (see, for example, Glick and Rogoff, 1995; Ventura, 2003). Consequently, a belief has risen t ...
... However, general equilibrium explanations of the Feldstein-Horioka finding never found adequate empirical support since the saving-investment correlation does not decrease when controlling for global shocks (see, for example, Glick and Rogoff, 1995; Ventura, 2003). Consequently, a belief has risen t ...
Productivity and Growth in an Unstable Emerging Market Economy
... imports-to-GNP ratio, public infrastructure investment-to-GNP ratio, and TFP. We are particularly interested in analyzing the dynamic effects of macroeconomic instability, public infrastructure investment and openness on TFP. To this end, we use a generalized impulse response analysis. The paper is ...
... imports-to-GNP ratio, public infrastructure investment-to-GNP ratio, and TFP. We are particularly interested in analyzing the dynamic effects of macroeconomic instability, public infrastructure investment and openness on TFP. To this end, we use a generalized impulse response analysis. The paper is ...
Table of Contents
... Earlier on I had put the same question to a leading comrade of another small Trotzkyist socialist party. And again, I received no clear answer. However, this friend was able to give me a convincing answer to another question. He asserted that it was necessary to build up a revolutionary socialist pa ...
... Earlier on I had put the same question to a leading comrade of another small Trotzkyist socialist party. And again, I received no clear answer. However, this friend was able to give me a convincing answer to another question. He asserted that it was necessary to build up a revolutionary socialist pa ...
Democracy and economic growth in an interdependent world
... proximity among countries while defining the nature and extent of interdependence in growth processes, the role of geography cannot be undermined. Trade costs is a primitive determinant in cross country growth. Therefore, geographically proximate countries with high democratic levels is always better ...
... proximity among countries while defining the nature and extent of interdependence in growth processes, the role of geography cannot be undermined. Trade costs is a primitive determinant in cross country growth. Therefore, geographically proximate countries with high democratic levels is always better ...
Economic Growth :Importance of Education and Technological
... United States. As it turns out, the similarities between countries and regions are many. Definitions of growth, as defined in the jargon of economics, are important because terminology should be consistent with common usage in the profession. From there, key conclusions are drawn and applied to regi ...
... United States. As it turns out, the similarities between countries and regions are many. Definitions of growth, as defined in the jargon of economics, are important because terminology should be consistent with common usage in the profession. From there, key conclusions are drawn and applied to regi ...
Division of Labor and Economic Growth: from Adam Smith to Paul
... As noted, this behavior could have at least two negative e¤ects on growth: it reduced the markets for manufactured goods and increased the proportion of unproductive workers. This state of things could not perpetuate with the advent of industry. In this sense, the development of an interior manufact ...
... As noted, this behavior could have at least two negative e¤ects on growth: it reduced the markets for manufactured goods and increased the proportion of unproductive workers. This state of things could not perpetuate with the advent of industry. In this sense, the development of an interior manufact ...
economic disruption, malthusian fertility, and economic growth
... the result of a shift toward Western models of reproductive behavior (Conrad, et al., 1996), demographics and attitudes toward family and work (Maxwell, 1998), or the removal of pronatalist politics of the 1980s (Zakharov and Ivanova, 1996). However, these explanations have little support in the dat ...
... the result of a shift toward Western models of reproductive behavior (Conrad, et al., 1996), demographics and attitudes toward family and work (Maxwell, 1998), or the removal of pronatalist politics of the 1980s (Zakharov and Ivanova, 1996). However, these explanations have little support in the dat ...
Economic Growth II: Technology, Empirics, and
... Table 8-1 shows how four key variables behave in the steady state with technological progress. As we have just seen, capital per effective worker k is constant in the steady state. Because y = f(k), output per effective worker is also constant. It is these quantities per effective worker that are st ...
... Table 8-1 shows how four key variables behave in the steady state with technological progress. As we have just seen, capital per effective worker k is constant in the steady state. Because y = f(k), output per effective worker is also constant. It is these quantities per effective worker that are st ...
International Effects of Government Expenditure in
... with the analysis of the transmissionof changesin tax ratesunderalternativecapital income tax regimes. In the presentpaper we focus on the transmissionof government expenditure shocks, examining in particularthe importance of the method of governmentfinance in the transmissionprocess, both in the do ...
... with the analysis of the transmissionof changesin tax ratesunderalternativecapital income tax regimes. In the presentpaper we focus on the transmissionof government expenditure shocks, examining in particularthe importance of the method of governmentfinance in the transmissionprocess, both in the do ...
Population Growth, Factor Accumulation, and Productivity
... For instance,in table 5 of the UN DemographicYearbook,1990(publishedin 1992)annualestimatesof mid-year population1981-1990are reponed for Tanzania,El Salvador,and Nigeriaeven thoughthe latest populationcensus for those countries was, respectively, 1978, 1971 and 1963! This is not to say that the pop ...
... For instance,in table 5 of the UN DemographicYearbook,1990(publishedin 1992)annualestimatesof mid-year population1981-1990are reponed for Tanzania,El Salvador,and Nigeriaeven thoughthe latest populationcensus for those countries was, respectively, 1978, 1971 and 1963! This is not to say that the pop ...
NBER WORKING PAPERS SERIES ENDOGENOUS MACROECONOMIC GROWTH THEORY Elhanan Helpman
... Last Revision: September 25, 1991. The Joseph Schuinpeter Lecture for the Sixth Annual Congress of the European Economic Association. My views on the subject of endogenous growth have been profoundly influenced by Gene Grossman, whom I thank for memorable four years of collaboration and intellectual ...
... Last Revision: September 25, 1991. The Joseph Schuinpeter Lecture for the Sixth Annual Congress of the European Economic Association. My views on the subject of endogenous growth have been profoundly influenced by Gene Grossman, whom I thank for memorable four years of collaboration and intellectual ...
globalisation and convergence
... rather than just curiosities and luxuries possible for the first time in human history (see O’Rourke and Williamson, 1998). It also saw mass flows of capital and mass migration on an extraordinary scale (see Lewis, 1978). The second half of the twentieth century has seen a further advance in interna ...
... rather than just curiosities and luxuries possible for the first time in human history (see O’Rourke and Williamson, 1998). It also saw mass flows of capital and mass migration on an extraordinary scale (see Lewis, 1978). The second half of the twentieth century has seen a further advance in interna ...
Sectoral Analysis
... Last but not least, we would like to emphasize that this investment theory is not the theory of interest rate determination: The optimal stock of capital is determined at the point where the declining MPk is equated with the real interest rate, which is set separately and externally. Interest rate i ...
... Last but not least, we would like to emphasize that this investment theory is not the theory of interest rate determination: The optimal stock of capital is determined at the point where the declining MPk is equated with the real interest rate, which is set separately and externally. Interest rate i ...
Funny Money: Fiscal Policy, Rent
... review earlier ideas about the political economy of the region’s rapid economic rise. One theme which has been widely touted in this context is that rent-seeking and corruption lie at the heart of the current problems. Although having considerable popular and intuitive appeal, this line of argument ...
... review earlier ideas about the political economy of the region’s rapid economic rise. One theme which has been widely touted in this context is that rent-seeking and corruption lie at the heart of the current problems. Although having considerable popular and intuitive appeal, this line of argument ...
Impact of globalization on small island developing
... Globalization is neither a new nor an old concept in PNG. It existed during prehistorical ontology dating back to when the conventional economic barter trading system was established. However, the terminology itself was not widely used in PNG. In most cases the terminology of globalization is often ...
... Globalization is neither a new nor an old concept in PNG. It existed during prehistorical ontology dating back to when the conventional economic barter trading system was established. However, the terminology itself was not widely used in PNG. In most cases the terminology of globalization is often ...
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.