The Role of Education in Economic Growth: Theory, History, and Current Returns

2012 ◽  
Author(s):  
Theodore R. Breton
Keyword(s):  
Economic Growth ◽  
Growth Theory ◽  
Current Returns

PERANAN ILMU PENGETAHUAN DAN INVESTASI SUMBER DAYA MANUSIA DALAM MEMACU PERTUMBUHAN EKONOMI

2017 ◽  
Vol 2 (1) ◽  
Author(s):  
Soegeng Wahyoedi
Keyword(s):  
Economic Growth ◽  
Research And Development ◽  
Growth Theory ◽  
Supply Side ◽  
Asian Countries ◽  
Classic Theory ◽  
The World ◽  
World Economic ◽  
New Growth Theory

<p>Entering the year of 1990s, the world economic growth was marked by the economic growth of Eastern Asian Countries reaching 7 percent per year on the average. Despite the economic crisis at the end of 1990s, these countries managed to grow. In reference the Classic Theory, the growth factors included supply side (production) whereas the Neo Classic Theory as its the follower introduced the role of human capital as the trigger of the economic growth i.e. New Growth Theory. Furthermore, several Neo Classic followers added that research and development were also the trigger of the economic growth.</p><p>Kata Kunci: Pertumbuhan ekonomi, research and development, investasi sumber daya manusia.</p>

scholarly journals MENGKRITISI TEORI PEMBANGUNAN EKONOMI KONVENSIONAL

2012 ◽  
Vol 1 (1) ◽  
Author(s):  
M. Shabri Abd. Majid
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Growth Theory ◽  
Important Indicator ◽  
Early Emergence ◽  
The People ◽  
Over Time ◽  
Holy Book

The failure of western economists to identify the factors that cause of the differences in economic growth within a country over time and differences in economic growth between countries are because of their weaknesses and ignorance. Besides, the ignorance of the role of science in the early emergence of the theory of economic development, until now they still deny the presence of the grace of Allah SWT as the most important factor causing the ongoing economic development of the people. Because of the high value of science in Islam, then the mastery of science comprehensively and completely will allow Muslims to build its economy. However, economic development of the people will never apply without the blessing of Allah through His grace stream. This paper is to review and uncover the weakness of western economic growth theory since the theory was first initiated. Although, initially the western economists had ignored the role of science as one important indicator of economic development, then in the end of 2nd millennium they have that mastery of knowledge is absolutely necessary to develop the economy of the country. It is clearly shown that finally the western economists were forced to admit the truth of the words of Allah that has been poured in the Muslim holy book, Al Qur'an, about the importance of the role of sciences in life in this world. ========================================================================================================Kegagalan para ahli ekonomi barat untuk mengidentifikasi faktor-faktor penyebab terjadinya perbedaan pertumbuhan ekonomi dalam sebuah negara dari masa ke masa dan perbedaan pertumbuhan ekonomi antar negara adalah mutlak disebabkan oleh kedhaifan dan kejahilan mereka sendiri. Selain sempat mengabaikan peran ilmu pengetahuan pada awal-awal kemunculan teori pembangunan ekonomi, hingga detik ini mereka masih menafikan kehadiran rahmat Allah SWT sebagai faktor terpenting penyebab berlangsungnya pembangunan ekonomi umat. Karena tingginya nilai ilmu pengetahuan dalam Islam, maka penguasaan ilmu pengetahuan secara komprehensif dan benar jelas akan memudahkan umat Islam untuk membangun ekonominya. Namun, pembangunan ekonomi umat tidak akan pernah berlaku tanpa mendapat restu Allah SWT melalui cucuran rahmatNya. Tulisan ini meninjau dan menguak kedhaifan teori pertumbuhan ekonomi barat sejak teori itu pertama kali digagaskan. Walaupun pada awalnya para ahli ekonomi barat sempat mengabaikan peran ilmu pengetahuan sebagai salah satu indikator penting dalam pembangunan ekonomi, namun di akhir milineum ke-2 mereka telah menyadari bahwa penguasaan ilmu pengetahuan adalah mutlak diperlukan untuk membangun ekonomi negara. Ini, secara jelas, menunjukkan bahwa, akhirnya, para ahli ekonomi barat terpaksa mengakui kebenaran kata-kata Allah SWT yang telah dituangkan dalam kitab suci umat Islam, al-Qur'an tentang pentingnya peran ilmu pengetahuan dalam menjalani kehidupan di dunia fana ini.

Evolutionary Models in the Theory of Economic Growth

2007 ◽  
pp. 66-81 ◽  
Author(s):  
A. Krasilnikov
Keyword(s):  
Economic Growth ◽  
Technological Progress ◽  
Evolutionary Economics ◽  
Growth Theory ◽  
Technological Diffusion ◽  
Evolutionary Models ◽  
Different Types

The role of evolutionary economics in the development of economic growth theory is considered in the article. Different types of evolutionary models are distinguished, analyzed and compared with neoclassical models. Special attention is paid to the treatment of scientific and technological progress, particularly within the framework of the models of technological diffusion.

scholarly journals The Link Between Standardization and Economic Growth

2021 ◽  
Vol 19 (1) ◽  
pp. 1-25
Author(s):  
Jussi Heikkilä ◽  
Timo Ali-Vehmas ◽  
Julius Rissanen
Keyword(s):  
Economic Growth ◽  
Representative Sample ◽  
Growth Theory ◽  
Economics Journals

We analyze the link between standardization and economic growth by systematically reviewing leading economics journals, leading economic growth researchers’ articles, and economic growth-related books. We make the following observations: 1) No article has analyzed the link between standardization and economic growth in top5 economics journals between 1996 and 2018. 2) A representative sample of the leading researchers of economic growth has allocated little attention to the link between standardization and economic growth. 3) Typically, economic growth textbooks do not contain “standards” or “standardization” in their word indexes. These findings suggest that the economic growth theory has neglected the role of standardization.

scholarly journals Public Policy, Innovation and Economic Growth: An Economic and Technological Perspective on Pakistan’s Telecom Industry

2016 ◽  
Vol 21 (Special Edition) ◽  
pp. 369-391 ◽  
Author(s):  
Musleh Ud Din ◽  
Inayat Ullah Mangla ◽  
Muhammad Jamil
Keyword(s):  
Economic Growth ◽  
Public Policy ◽  
Policy Innovation ◽  
Growth Theory ◽  
Comprehensive Strategy ◽  
Technology And Innovation ◽  
Endogenous Growth Theory ◽  
Technological Modernization ◽  
Sustainable Economic Growth

At a time of rapid technological advancements in every field, Pakistan must develop a comprehensive strategy for harnessing science and technology to promote economic growth on a sustained basis. In recent decades, successful economies have moved away from factor accumulation models of economic growth to productivity led growth that is underpinned by technological advancements and innovations. Using the endogenous growth theory as a framework of analysis, the paper will provide a macroeconomic perspective on the importance of technology and innovation for sustainable economic growth. We argue that public policy must be geared to generate robust growth by encouraging investment in research and development (R&D) and human capital. The paper will conceptualize the role of technology in the process of economic growth and identify policy areas that can be instrumental in promoting technological modernization and innovations.

Closing The UK Competitiveness Gap

1995 ◽  
Vol 154 ◽  
pp. 71-84 ◽  
Author(s):  
Walter Eltis ◽  
David Higham
Keyword(s):  
Economic Growth ◽  
Small Firms ◽  
Living Standards ◽  
Growth Theory ◽  
National Competitiveness ◽  
Industrial Productivity ◽  
New Growth Theory ◽  
The Uk ◽  
Productivity And Competitiveness

This paper is developed from the presentation given by Walter Eltis at the National Institute's seminar ‘Industrial Productivity and Competitiveness' held in London on 23 May 1995. It sets out the approach underlying the UK Government's 1994 and 1995 White Papers on competitiveness and begins by reviewing the debate on the meaning of national competitiveness. The White Papers define competitiveness as the ability to raise living standards and argue that, contrary to the views of some leading economists, competitiveness is a useful guide to policy because of the emphasis on national benchmarking. It then explains that the analytical basis of the Government's approach—which identifies ten key influences on competitiveness—lies in the theoretical and empirical analysis of economic growth (including ‘new’ growth theory) and on detailed studies of the sources of productivity differences across countries. Finally, it considers the role of privatisation, inward investment, the growth of small firms and labour market policies in improving UK performance. The paper concludes that, although three quarters of the productivity gap with French and Germany industry appears to have been closed since 1979, productivity in both manufacturing and services still lags behind those in the leading West European countries.

scholarly journals Aggregate growth models from a Schumpeterian perspective

2020 ◽  
Vol 19 ◽  
pp. e020004
Author(s):  
João P. Romero
Keyword(s):  
Economic Growth ◽  
Growth Models ◽  
Critical Assessment ◽  
Growth Theory ◽  
Technological Transfer ◽  
Aggregate Growth ◽  
Research Intensity ◽  
Technological Competitiveness ◽  
Macroeconomic Growth

The paper presents a critical assessment of the Schumpeterian macroeconomic approach to economic growth. Taking as reference a representative sample of important works within this tradition, the paper identifies the main contributions and limitations of the macroeconomic Schumpeterian literature to understanding economic growth. More specifically, the literature review carried out in this paper focuses on three of Schumpeter’s ideas that have become particularly influential in macroeconomic growth theory: (i)  the role of technological transfer in productivity growth in follower countries; (ii) the importance of research intensity for technical progress; and (iii) the prominence of technological competitiveness for trade performance. The contribution of the paper is twofold: (i) it provides an organized review of the macroeconomic literature until its present state; and (ii) it indicates important gaps in this literature that should be the focus of further research.

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