EFFECTS OF LIFELONG EDUCATION AND RELATED FACTORS ON THE COMPETITIVENESS OF COUNTRIES

2015 ◽  
Author(s):  
Aija SANNIKOVA ◽  
Aina DOBELE ◽  
Madara DOBELE
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Causal Relationship ◽  
Lifelong Education ◽  
Related Factors ◽  
Global Competitiveness ◽  
Positive Effects ◽  
The Stability ◽  
Two Stages ◽  
Stages Of Economic Development

Modern knowledge becomes a strategic endowment of the country and its key resource for economic growth, giving individuals opportunities to become active employers or increasing their opportunities to become professionals being demanded in the labour market. For these reasons, the development of lifelong education is a significant tool for economic growth in Latvia. Correlation and linear regression analyses showed that lifelong education made the strongest and most positive effects on a country’s competitiveness at two stages of economic development: at the innovation-driven stage and during a country’s transition to it from the efficiency-driven stage (the case of Latvia). Calculations were preformed based on the data for 2008 and 2013, and the results were similar, which indicated the stability of this global causal relationship. So the authors conclude that a country’s stage of economic development plays a crucial role in the extent the factor of lifelong education can affect the country’s global competitiveness. In the countries being at lower stages of economic development, even well-developed lifelong education is not objectively capable of increasing their competiveness as effectively as it takes place, for example, at the innovation-driven stage. Proving a causal relationship – the capability of lifelong education to increase a country’s competitiveness is determined by the existing economic background and rules of game, which are different at different stages of economic development – based on research of the economic aspects of lifelong education may be regarded as the key gain of the present research.

scholarly journals A Comparative Study of the Impacts of Human Capital and Physical Capital on Building Sustainable Economies at Different Stages of Economic Development

Energies ◽  
2021 ◽  
Vol 14 (19) ◽  
pp. 6259
Author(s):  
Xiaohao Ding ◽  
Yifan Huang ◽  
Wenjuan Gao ◽  
Weifang Min
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Economic Development ◽  
Energy Consumption ◽  
Physical Capital ◽  
Quantile Regression Model ◽  
National Economic ◽  
Green Gdp ◽  
The Stability ◽  
Stages Of Economic Development

This study investigated the contributions of human capital and physical capital to economies at different stages by measuring the economic development with the traditional GDP and green GDP. The traditional GDP stood for the quantity of economic growth, and the green GDP, taking both the energy consumption and environmental pollution into account, was employed to represent the sustainability of economic development. We used a panel data of 143 countries and regions during the period from 1990 to 2014, and results showed that the elasticities of output with respect to human capital were greater compared to physical capital, while green GDP was significantly more sensitive to changes in human capital than the traditional GDP. In particular, considering the unbalanced distribution of economic growth among countries and regions, we employed the quantile regression model to explore the heterogeneous roles of physical and human capital in different stages of economic development, which evidenced not only the significance but also the stability of human capital. As national economic levels grew, countries became less dependent on physical capital, yet human capital maintained its outstanding role at different stages of economic development, particularly for the building of more sustainable economies.

The Role of Entrepreneurial Performance in Supporting Economic Development of Countries: An Empirical Approach

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Valentina Diana Rusu ◽  
Angela Roman
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Social Progress ◽  
Entrepreneurial Performance ◽  
Panel Data Estimation ◽  
Positive Effects ◽  
National Competitiveness ◽  
Key Factor ◽  
Future Economic Development

Abstract Entrepreneurship is recognized as one of the factors stimulating economic growth and increasing economic competitiveness. In addition, the Europe 2020 Strategy has focused its attention on entrepreneurship as a key factor of economic growth, social progress, and employment. In this context, our study examines the role of entrepreneurial performance for sustaining the development of countries, focusing on a sample of European countries. We attempt to reveal if increasing entrepreneurial performance would have significant influence on improving the economic position of countries and their future economic development. Starting from the OECD-Eurostat Entrepreneurship Indicators Programme we use a set of entrepreneurial performance indicators as independent variables and examine to what extent they can influence competitiveness and economic growth, seen as dependent variables of the models. We focus on a period of 10 years (2008–2017) and we apply panel-data estimation techniques. Because the period considered includes the period of the last international financial crisis, we also include in our analysis a dummy variable. Our results emphasize that the changes in entrepreneurial performance play a significant role in enhancing national competitiveness and economic growth. Our findings contribute to the expansion of literature in the field by providing evidence on the correlation of indicators that measure entrepreneurial performance with national competitiveness and economic growth. Moreover, our findings point out the need of the policy makers to adopt measures and policies that help and stimulate entrepreneurs to become more performant because they can generate positive effects to the economy as a whole.

Efficiency Driven Effect of Education in China: The Perspective of Global Competitiveness and Graduate Education

2021 ◽  
Vol 1 (1) ◽  
pp. 36-43
Author(s):  
Jia Liu ◽  
Lun Li
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Economic Development ◽  
Practical Significance ◽  
Education Policies ◽  
Global Competitiveness ◽  
Higher Education Policies ◽  
Level Of Economic Development ◽  
Education In China

Capital, natural resources, technology and education are often considered to be the most important factors in improving the level of economic development. China is in the "efficiency-driven" stage of economic development. There are objective laws in the development of education level and economic growth, but they interact with each other. Economic growth provides the foundation and necessary conditions for the development of education. At the same time, the role of education in promoting economic growth is also very obvious. Based on the perspective of postgraduate training, this paper studies the role of education in economic efficiency-driven, through the study of theory, data collection and empirical analysis, combined with the development characteristics of China's higher education, and compares China's and US higher education policies to guide China's higher education. The development of education, and then promote the transformation of China into the "innovation-driven" stage, has certain theoretical and practical significance.

scholarly journals The Behavioral Aspect of Economic Growth

2021 ◽  
Vol 8 (523) ◽  
pp. 13-18
Author(s):  
T. M. Panevnyk ◽  
◽  
N. K. Bolgarova ◽  
Keyword(s):  
Economic Growth ◽  
Decision Making ◽  
Economic Development ◽  
Behavioral Economics ◽  
Significant Influence ◽  
Analytical Models ◽  
Behavioral Factors ◽  
Global Competitiveness ◽  
Behavioral Aspect ◽  
Quality Of Life Index

The article discusses the essence and significance of behavioral economics. The need to take into account the instrumentarium of behavioral economy in the process of solving socio-economic problems is substantiated. The macroeconomic indicators of development of Ukrainian economy are analyzed. Ukraine’s place in the world ranking in terms of GDP per capita is considered. The integrated assessment of the overall economic activity of the country using the Global Competitiveness Index (IGC), the Human Development Index (HDI), and the index of Quality of Life Index by Country are carried out. International comparison of economic growth indicators is highlighted. The dynamics of total income, expenses, savings of the population are analyzed and the significant influence of behavioral factors on decision-making in this sphere is identified, their relationship at both micro and macro levels is disclosed. A significant influence of behavioral factors on decision-making on consumption, expenses and savings is identified, their importance in crisis situations is emphasized. It is proved that the behavioral aspect of economic growth involves not just the inclusion of psychological factors in the classical analytical models, but a combination of microeconomic components with macroeconomic ones. The need to expand the analysis of economic development based on taking into account the behavioral aspect as the driving force of economic development is substantiated. It is noted that the instruments of behavioral economics should be used in the process of developing and conducting socio-economic policy. It is defined that the behavioral economy is one of the instruments that strengthens the possibilities of effective decision-making by the actors together with their impact on socio-economic processes.

scholarly journals Structural breaks in finance growth nexus: the study of Indonesia

2011 ◽  
Vol 1 (1) ◽  
pp. 1-6 ◽  
Author(s):  
Bidisha Mukhopadhyay
Keyword(s):  
Economic Growth ◽  
Causal Relationship ◽  
Financial Development ◽  
Structural Breaks ◽  
Structural Break ◽  
Break Point ◽  
Annual Data ◽  
Data Set ◽  
The Stability ◽  
Finance Growth Nexus

This paper empirically investigates the finance-growth nexus for an annual data set of Indonesia during the last two decades. The purpose is to examine the causal relationship between financial development and economic growth in Indonesia and also to test the structural breaks in the finance-growth relationship to investigate the change in policy regimes. To examine the causal relationship between financial development and economic growth, the newly proposed ARDL bound testing approach by Pesaran et al. (1996) has been applied .The estimated results support the view of Lucas (1988) that finance doesn’t matter for economic growth. Structural break is identified in the year 1997 in Indonesia with the estimated finance-growth relationship. The stability of the estimated relationship is examined with break-point Chow tests (F tests).

scholarly journals Identifying Engines Of Growth In A Substate Economy

2011 ◽  
Vol 7 (4) ◽  
Author(s):  
Maureen Dunne ◽  
Martha Meaney ◽  
Fahlino Sjuib ◽  
Charles Schumacher ◽  
Sean Stevens
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Error Correction ◽  
Labor Force ◽  
Causal Relationship ◽  
Error Correction Model ◽  
Economic Indicators ◽  
Force Analysis ◽  
Correction Model ◽  
Economic Criteria

In the current economy, states and substate regions seek to identify the sources of economic growth in order to improve economic development efforts.  The objectives of the paper are threefold.  First, using selected economic criteria, we examine the growth in the labor force of the substate region.  Second, using selected economic indicators, we detect the existence of growth in employment, establishments, payroll and wages in the substate region.  Finally, we explore the causal relationship among selected economic variables in the substate region and determine the direction of causality between variables.  Several techniques and analyses are used in this study, including labor force analysis, location quotients, and the error correction model. The methodology and economic indicators used in this research can be applied to similar substate regions allowing comparison among regions and facilitating regional economic development efforts.

scholarly journals THE ROLE OF INVESTMENT IN THE FIELD OF AGRICULTURE IN KOSOVO

2019 ◽  
Vol 31 (5) ◽  
pp. 1459-1462
Author(s):  
Adelina Gashi
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Private Sector ◽  
Foreign Aid ◽  
Significant Progress ◽  
Macroeconomic Stabilization ◽  
Negative Effect ◽  
The Stability ◽  
High Level

Kosovo has made significant progress in institutional building and macroeconomic stabilization, even though, the opportunity to meet needy people was very slow. The lack of economic development seems to have a negative effect on the stability that will push economic growth. The most urgent challenge for Kosovo authorities was to maintain macroeconomic stability and achieve economic growth, in pursuit of the reduction of the high level of unemployment. Reducing foreign aid and spills in the private sector will make it very difficult to achieve this goal. Mitigation of emigration is a very important issue for Kosovo's economy.

scholarly journals Finance and growth nexus: An international analysis across cities

Urban Studies ◽  
2020 ◽  
Vol 58 (1) ◽  
pp. 223-242 ◽  
Author(s):  
Stefanos Ioannou ◽  
Dariusz Wójcik
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Financial Development ◽  
Metropolitan Areas ◽  
Financial Systems ◽  
Financial Centre ◽  
National Economies ◽  
The Relationship ◽  
Stages Of Economic Development

We examine the relationship between finance and economic growth in the metropolitan areas of 75 countries at various stages of economic development in the period 2001–2015. Our analysis demonstrates an inverted-U shaped relationship between finance and growth. This relationship becomes even more significant in the areas of a country outside its largest financial centre, indicating that while these areas can benefit from financial development, they are also the most vulnerable. We show that large financial centres can have an impact on growth across their national economies, but in doing so they complement rather than replace local financial centres. Overall, our results highlight the risks associated with the excesses of financial development and lend evidence to support calls for more decentralised financial systems.

Von der Tulpenkrise zum Finanzmarktkollaps. Das Allgemeine im Besonderen

2011 ◽  
Vol 52 (1) ◽  
Author(s):  
Toni Pierenkemper
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
General Pattern ◽  
Efficient Market Hypothesis ◽  
Dynamic Processes ◽  
Negative Effects ◽  
Positive Effects ◽  
Starting Point ◽  
Shed Light

AbstractContrary to the presumed perfect markets of the Efficient Market Hypothesis, the very concept of which seems logically flawed, numerous economic crises have been observed in the economic development of the last four hundred years. The following paper seeks to shed light on a specific type of crisis the speculative crisis and in particular its general pattern, from its starting point as an innovative business idea, to Boom and Crash, to exploring consequences, making use of examples from selected historical crises. This paper also seeks to demonstrate that speculations of this sort were also often associated with long term positive effects on economic growth. A complete prevention of dynamic processes of this sort, therefore, by means of comprehensive regulation, appears not only illusory, but also anti-progressive, although measures to limit the negative effects of crises as far as possible must, of course, be taken.

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