Chapter 02 - Understanding Economics and How It Affects Business
... A. Following the ideas of Adam Smith, businesspeople created more wealth than every before. 1. But GREAT DISPARITIES in wealth remained or even increased. 2. Although it is not easy, opportunities to start one’s own business have always been there, especially in a free market. 3. CAPITALISM is an ec ...
... A. Following the ideas of Adam Smith, businesspeople created more wealth than every before. 1. But GREAT DISPARITIES in wealth remained or even increased. 2. Although it is not easy, opportunities to start one’s own business have always been there, especially in a free market. 3. CAPITALISM is an ec ...
On the Latin American growth paradox: An insight into the Golden Age
... approach, which intends to analyze the evolution of the whole income distribution. Moreover, more recent studies are able to uncover non-linear dynamics (Fiaschi and Lavezzi 2003) in growth patterns. Yet, these authors are more concerned with the statistical patterns of growth and convergence than w ...
... approach, which intends to analyze the evolution of the whole income distribution. Moreover, more recent studies are able to uncover non-linear dynamics (Fiaschi and Lavezzi 2003) in growth patterns. Yet, these authors are more concerned with the statistical patterns of growth and convergence than w ...
Notes Solow Growth Model
... Korea was able to achieve a much faster long-run rate of growth than Nicragua. Why does GDP per worker increase? It would seem that it has a lot to do with the amount of capital that each worker in the economy gets to use, as we can see in the following graph: Pretty obviously, having more capital- ...
... Korea was able to achieve a much faster long-run rate of growth than Nicragua. Why does GDP per worker increase? It would seem that it has a lot to do with the amount of capital that each worker in the economy gets to use, as we can see in the following graph: Pretty obviously, having more capital- ...
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... prices relative to the price of nonagricultural goods and services would lower both returns to capital in agriculture and growth in the broader economy because too much capital remains allocated to agriculture. ...
... prices relative to the price of nonagricultural goods and services would lower both returns to capital in agriculture and growth in the broader economy because too much capital remains allocated to agriculture. ...
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... determinants on agricultural growth in Nigeria from 1970 -2013. Data generated were analyzed using Unit root test, co-integration test, regression analysis. The study result found negative and insignificant relationship(P>0.05) between total capital flight and agricultural growth; meaning that capit ...
... determinants on agricultural growth in Nigeria from 1970 -2013. Data generated were analyzed using Unit root test, co-integration test, regression analysis. The study result found negative and insignificant relationship(P>0.05) between total capital flight and agricultural growth; meaning that capit ...
Article (Author postprint) - Archive ouverte UNIGE
... The comparative study of advanced capitalist political economies—comparative political economy or “CPE” for short—has a long and distinguished pedigree, going back to Andrew Shonfield’s Modern Capitalism.1 Despite ...
... The comparative study of advanced capitalist political economies—comparative political economy or “CPE” for short—has a long and distinguished pedigree, going back to Andrew Shonfield’s Modern Capitalism.1 Despite ...
FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH
... spillover efficiency occurs when domestic firms are capable of absorbing the benefits of MNCs embodied in FDI. Besides FDI also creates backward and forward linkages which get stimulated through MNCs in spurting up economic growth and development. Blomstrom, Kokko and Zejan (1992) concluded that pr ...
... spillover efficiency occurs when domestic firms are capable of absorbing the benefits of MNCs embodied in FDI. Besides FDI also creates backward and forward linkages which get stimulated through MNCs in spurting up economic growth and development. Blomstrom, Kokko and Zejan (1992) concluded that pr ...
Roads vs. Schooling: Consequences of Government Choices
... paper, the indication from the numerical work in the following sections is that there are no transitional dynamics as growth rates are found to not depend on changing starting values of the capital stocks. The dynamics of the system are controlled by equations (2), (7), and (9).5 In order to solve t ...
... paper, the indication from the numerical work in the following sections is that there are no transitional dynamics as growth rates are found to not depend on changing starting values of the capital stocks. The dynamics of the system are controlled by equations (2), (7), and (9).5 In order to solve t ...
The economics of distribution and growth: Recent issues Growth
... explore a single mechanism applicable only to particular types of countries. Theories about rural-urban migration, such as the Kuznets hypothesis, cannot describe the relationship between inequality and growth in mature industrial economies; models based on credit market imperfections are applicabl ...
... explore a single mechanism applicable only to particular types of countries. Theories about rural-urban migration, such as the Kuznets hypothesis, cannot describe the relationship between inequality and growth in mature industrial economies; models based on credit market imperfections are applicabl ...
marx`s economic theory and contemporary capitalism
... as every worker knows. 10. By contrast, the neoclassical marginal productivity theories of interest provides no ...
... as every worker knows. 10. By contrast, the neoclassical marginal productivity theories of interest provides no ...
Neoclassical theories of stationary relative prices and the supply of
... given, together with the available quantities of labour and natural resources. This characteristic of the early neoclassical theories is analysed by the comparison with the modern neo-Walrasian models of stationary equilibrium, in which the stock of capital is not considered among the data. We show ...
... given, together with the available quantities of labour and natural resources. This characteristic of the early neoclassical theories is analysed by the comparison with the modern neo-Walrasian models of stationary equilibrium, in which the stock of capital is not considered among the data. We show ...
Social capital
... extent that the social relations of its members hold it together. Individuals may be embedded more or less strongly within a cohesive group, but if the maximum-sized group at a given level of strength is uniquely well defined, then the individuals and the group have a unique level of cohesion. ...
... extent that the social relations of its members hold it together. Individuals may be embedded more or less strongly within a cohesive group, but if the maximum-sized group at a given level of strength is uniquely well defined, then the individuals and the group have a unique level of cohesion. ...
The Impact of Capital Flight on Investment and Growth in Trinidad
... capital scarce economies of critical financial resources. This paper empirically investigates the possible negative relationship between capital flight and investment, and capital flight and growth. This is important because studies by Umoru [2013], Ndikumana and Boyce [2008], Ndiaye [2007], Schneid ...
... capital scarce economies of critical financial resources. This paper empirically investigates the possible negative relationship between capital flight and investment, and capital flight and growth. This is important because studies by Umoru [2013], Ndikumana and Boyce [2008], Ndiaye [2007], Schneid ...
Rising Inequality in Asia
... • In response to rising demands, political process may favor policies that benefit lower end of the income distribution in short ...
... • In response to rising demands, political process may favor policies that benefit lower end of the income distribution in short ...
Paper delivered at the Conference “Ragnar Nurkse (1907–2007): Classical Development
... many of the less developed countries today the dominant practical question is whether the available investment funds … should be used to provide activities specialized along lines of comparative advantage internationally or diversified so as to provide markets for each other locally.” He noted that ...
... many of the less developed countries today the dominant practical question is whether the available investment funds … should be used to provide activities specialized along lines of comparative advantage internationally or diversified so as to provide markets for each other locally.” He noted that ...
Economic Values and Resource Use - Bortom BNP
... In addition to labor, capital is the most important production factor and source of income. In productive capital, the classical economists included all sorts of food, clothing, buildings, tools, machinery and raw materials that were directed to assist in production. Common to all these forms of cap ...
... In addition to labor, capital is the most important production factor and source of income. In productive capital, the classical economists included all sorts of food, clothing, buildings, tools, machinery and raw materials that were directed to assist in production. Common to all these forms of cap ...
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... growth in per capita incomes. This success was possible due to the positive endowments that the Caribbean countries have been blessed with. Nevertheless, some islands have developed much faster and have enjoyed higher levels of human development than others. For example, poverty has remained high in ...
... growth in per capita incomes. This success was possible due to the positive endowments that the Caribbean countries have been blessed with. Nevertheless, some islands have developed much faster and have enjoyed higher levels of human development than others. For example, poverty has remained high in ...
Although understanding economic growth has always been the
... growth paths in growth models. To better understand the role of σ, we abstract from technological progress. It is generally presumed that in the exogenous growth models 1, no long-run growth of per capita output is possible without technological progress. Due to diminishing factor returns, the capit ...
... growth paths in growth models. To better understand the role of σ, we abstract from technological progress. It is generally presumed that in the exogenous growth models 1, no long-run growth of per capita output is possible without technological progress. Due to diminishing factor returns, the capit ...
pg07 Malley 5018580 en
... the solution to the second-order approximation of the model, amount to 4percent of consumption and correspond to an education spending share of 8.5%. Third, the positive welfare e ects of education spending work through human capital externalities. In particular, in the presence of higher externalit ...
... the solution to the second-order approximation of the model, amount to 4percent of consumption and correspond to an education spending share of 8.5%. Third, the positive welfare e ects of education spending work through human capital externalities. In particular, in the presence of higher externalit ...
Convergence and Development Traps: How did emerging
... stable equilibrium to another. In a nutshell, the argument is that this jump should lead to observe multiple growth peaks, or in other words a “growth acceleration cycle” pattern. Then, the most critical question is whether one may detect in the recent economic history any evidence of a successful e ...
... stable equilibrium to another. In a nutshell, the argument is that this jump should lead to observe multiple growth peaks, or in other words a “growth acceleration cycle” pattern. Then, the most critical question is whether one may detect in the recent economic history any evidence of a successful e ...
Global economic conditions survey report: Q2, 2014
... forces to conduct this research. Over the years, GECS has been covered in the international, national and local press about 6,500 times, and its combined dataset now includes more than 41,000 responses. A review of the first five years of the survey, Five Years of the Global Economic Recovery, was p ...
... forces to conduct this research. Over the years, GECS has been covered in the international, national and local press about 6,500 times, and its combined dataset now includes more than 41,000 responses. A review of the first five years of the survey, Five Years of the Global Economic Recovery, was p ...
IMPACT OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH IN PAKISTAN
... developed (technological leaders) and developing countries (technological followers). FDI has a positive effect on TFP growth in developed countries but a negative effect in developing countries but the pattern is reversed in case of effect on capital accumulation. De Mello infers from these finding ...
... developed (technological leaders) and developing countries (technological followers). FDI has a positive effect on TFP growth in developed countries but a negative effect in developing countries but the pattern is reversed in case of effect on capital accumulation. De Mello infers from these finding ...
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... cannot merely be explained as a direct exchange of bribes or campaign contributions between specific groups and politicians4. There are more subtle and effective mechanisms that the elites, as an organized entity, can use to generate an overall policy environment favorable to their interests: (i) t ...
... cannot merely be explained as a direct exchange of bribes or campaign contributions between specific groups and politicians4. There are more subtle and effective mechanisms that the elites, as an organized entity, can use to generate an overall policy environment favorable to their interests: (i) t ...
A Post-Keynesian Response to Piketty`s “Fundamental Contradiction
... return is neither a rate of interest nor a rate of profit, but rather an average rate of return on the total capital of the economy. How do all these laws fit into a coherent explanation of capitalism? Summers (2014) provides a concise summary about the place of the laws in Piketty’s argument: ‘[h]i ...
... return is neither a rate of interest nor a rate of profit, but rather an average rate of return on the total capital of the economy. How do all these laws fit into a coherent explanation of capitalism? Summers (2014) provides a concise summary about the place of the laws in Piketty’s argument: ‘[h]i ...
Oil Rents and Capital Flight
... illicit profits outside of the country, thus driving up capital flight rates. Economic stability also suffers when an economy becomes more dependent on a single resource such as oil. This can lead to currency depreciation, which causes citizens and businesses to store and invest their capital in oth ...
... illicit profits outside of the country, thus driving up capital flight rates. Economic stability also suffers when an economy becomes more dependent on a single resource such as oil. This can lead to currency depreciation, which causes citizens and businesses to store and invest their capital in oth ...
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.