scholarly journals Basic questions of economic growth mechanism

2008 ◽  
Vol 53 (176) ◽  
pp. 7-37 ◽  
Author(s):  
György Simon
Keyword(s):  
Economic Growth ◽  
Economic Activity ◽  
Physical Capital ◽  
The United States ◽  
Event Space ◽  
Initial State ◽  
Economic Growth And Development ◽  
World Economic ◽  
Main Components ◽  
Intensity Functions

The author elaborated and, by a world economic investigation on 131 countries, verified a growth model considering both physical and human capital, as well as time, as the event space of creative economic activity. The main components of the model are the intensity functions using which one can map the three fundamental types of technical progress and thus economic growth and development from the initial state without physical capital to our days. The model is functioning well concerning both developed and developing countries, as demonstrated by the paper with the examples of the United States and India.

scholarly journals Measurements of Economic Growth and Development of Various Sized Central Place Areas in Pennsylvania, 1960-70

1972 ◽  
Vol 1 (01) ◽  
pp. 336-347
Author(s):  
R. Gar Forsht ◽  
J. Dean Jansma
Keyword(s):  
United States ◽  
Economic Growth ◽  
Rural Areas ◽  
Economic Activity ◽  
Growth And Development ◽  
The United States ◽  
Central Place ◽  
Economic Growth And Development ◽  
The Past ◽  
Urban And Rural Areas

There has been increasing concern over the past decade about the lack of economic activity in a number of major cities, many intermediate and small sized cities, and a significant number of rural areas within various regions of the United States. This concern about the depressed conditions in these urban and rural areas, relative to the nation, has attracted country-wide attention.

scholarly journals The Global Domain of the Dollar: Eight Questions

2020 ◽  
Vol 48 (4) ◽  
pp. 421-429
Author(s):  
Robert N. McCauley
Keyword(s):  
Economic Activity ◽  
Balance Sheet ◽  
The United States ◽  
Fiscal Deficits ◽  
Exorbitant Privilege ◽  
The World ◽  
World Economic ◽  
Dollar Debt ◽  
The 1960S ◽  
The U.S

Abstract Since the late 1950s, the rest of the world has come to use the dollar to an extent that justifies speaking of the dollar’s global domain. The rest of the world denominates much debt in U.S. dollars, extending U.S. monetary policy’s sway. In addition, in outstanding foreign exchange deals, the rest of the world has undertaken to pay still more in U.S. dollars: off-balance-sheet dollar debts buried in footnotes. Consistent with the scale of dollar debt, most of the world economic activity takes place in countries with currencies tied to or relatively stable against the dollar, forming a dollar zone much larger than the euro zone. Even though the dollar assets of the world (minus the United States) exceed dollar liabilities, corporate sector dollar debts seem to make dollar appreciation akin to a global tightening of credit. Since the 1960s, claims that the dollar’s global role suffers from instability and confers great benefits on the U.S. economy have attracted much support. However, evidence that demand for dollars from official reserve managers forces unsustainable U.S. current account or fiscal deficits is not strong. The so-called exorbitant privilege is small or shared. In 2008 and again in 2020, the Federal Reserve demonstrated a willingness and capacity to backstop the global domain of the dollar. Politics could constrain the Fed’s ability to backstop the growing share of the domain of the dollar accounted for by countries that are not on such friendly terms with the U.S.

Sharing the Riches of the Earth: Democratizing Natural Resource-Led Development

2004 ◽  
Vol 18 (1) ◽  
pp. 47-62 ◽  
Author(s):  
Keith Slack
Keyword(s):  
Economic Growth ◽  
Natural Resource ◽  
Economic Activity ◽  
Growth And Development ◽  
Poverty Reduction ◽  
Public Involvement ◽  
Resource Extraction ◽  
Economic Growth And Development ◽  
The Earth ◽  
Education Levels

Many developing countries are attempting to use their natural resource endowments – notably oil, natural gas, and minerals such as gold – as the basis for economic growth and development. Recent history, however, indicates that countries that depend heavily on resource extraction do more poorly on a variety of economic indicators, including growth rates, education levels, and income inequality. This is due in significant part to the way in which wealth derived from resource extraction is concentrated in the hands of a small elite, which often misuses these revenues through corruption, poorly planned investments, and other means. This contrasts with other kinds of economic activity, such as agriculture, in which benefits are distributed more widely. Thus, a key to increasing the development and poverty reduction benefit value of resource extraction is breaking elite control of these revenues and increasing public involvement in decision-making related to their use. Doing so would enhance the likelihood that these funds would be employed with greater concern for the needs of the populace. The experiences of Ecuador, Peru, and Bolivia highlight the importance of increasing distributive justice and public participation in resource revenue distribution and provide insights into how this could be implemented in resource-dependent economies.

The Record of Economic Growth, Business Cycles, and Economic Policies in American Economic History

2018 ◽  
pp. 224-257
Author(s):  
Lee Ohanian
Keyword(s):  
Economic Growth ◽  
World War Ii ◽  
Business Cycles ◽  
Economic Activity ◽  
Economic History ◽  
Developed Countries ◽  
The United States ◽  
Policy Changes ◽  
Regulatory Policies ◽  
Long Run

This chapter documents and analyzes the American historical economic record of growth and business cycles within the context of long-run and short-run economic policy changes. The United States is unique among all of the developed countries in terms of having a sustained and fairly stable record of economic growth. Given the large changes in various policies that have occurred over time, this record suggests that policy shifts have had almost no impact on the growth rate over the very long run. However, policy changes have had a significant impact on economic activity over shorter horizons, including the Great Depression and World War II. This chapter also argues that microeconomic policies, such as regulatory policies, tax policies, and labor policies, have had as much of an impact on aggregate economic activity as macroeconomic policies, such as monetary policy and government spending and transfer policies

scholarly journals The Importance of Entrepreneurship Education on Economic Growth

2016 ◽  
Author(s):  
Harun Bal ◽  
Erhan İşcan ◽  
Birgül Katar
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Growth And Development ◽  
Creative Thinking ◽  
Entrepreneurship Education ◽  
Physical Capital ◽  
Industrial Society ◽  
Capital Theory ◽  
Economic Growth And Development ◽  
The Impact

Entrepreneurship is one of the prominent individual properties in transition from industrial society to artificial intelligence society. It is extremely important to raise entrepreneurs who can easily adapt to changing circumstances, in a society’s economic growth and development. An entrepreneurship has different qualities in terms of manners and attributes such as leadership, ability to see the opportunities, to pursue the innovations, to take risk, independence, diligence, creative thinking, fast problem solving. It is thought to be the economic growth depended on physical capital increase as well as labor and capital. Education is the most crucial component of human capital. In recent years, the most striking result of endogenous growth model of Romer who contributed the improvement of human capital theory is relatively the economies that have higher sum of human capital rate will have higher economic growth rate. The main aim of this study is to determine the impact of the entrepreneurship education on economic growth and development. For this aim a questionnaire is prepared to analyze the potential impact of the entrepreneurship education on economic growth and development. Results of analyze shown that the entrepreneurship education is necessary and important for entrepreneurship. Therefore, entrepreneurship education and training is sufficient for economic growth. The policy makers should spend more resources on the education that increases the human and social capital.

scholarly journals THE EFFECTS OF NAFTA ON ECONOMIC GROWTH

2019 ◽  
Vol 78 (308) ◽  
pp. 63
Author(s):  
Víctor M. Cuevas Ahumada ◽  
Roger Ivanodik Juan López Churata
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Generalized Method Of Moments ◽  
Physical Capital ◽  
Generalized Least Squares ◽  
The United States ◽  
Capital Formation ◽  
Gdp Per Capita ◽  
Human Capital Formation ◽  
Per Capita

<p align="center"><strong>ABSTRACT</strong></p><p>This paper evaluates the effects of the North American Free Trade Agreement on the economic growth of Mexico, the United States and Canada by means of an augmented Solow growth model. Such a model is estimated with panel data through two econometric methods: 1) the Arellano-Bond dynamic panel Generalized Method of Moments, and 2) Feasible Generalized Least Squares. The two techniques are consistent in indicating that trade raises Gross Domestic Product (GDP) per capita, controlling for physical capital stock per capita, human capital formation, total factor productivity, and the capital depreciation rate. However, the most important source of GDP per capita growth is human capital formation, which highlights the need to promote trade while investing more in long-term formal education, short-term training programs and the whole process of knowledge transferring.</p><p> </p><p align="center"><strong>LOS EFECTOS DEL TLCAN EN EL CRECIMIENTO ECONÓMICO</strong></p><p align="center"><strong>RESUMEN</strong></p>Esta investigación evalúa los efectos del Tratado de Libre Comercio de América del Norte en el crecimiento económico de México, Estados Unidos y Canadá mediante una versión ampliada del modelo de crecimiento de Solow. El modelo se estima con datos en panel mediante dos métodos: 1) el método generalizado de momentos de Arellano y Bond, el cual se aplica a un panel dinámico y 2) mínimos cuadrados generalizados factibles. Ambos indican que el comercio incrementa el producto interno bruto (PIB) per cápita, controlando para el <em>stock</em> de capital físico y humano, la productividad total de los factores y la tasa de depreciación del capital. Sin embargo, la principal fuente de crecimiento económico es la formación de capital humano, por lo que se debe estimular el comercio internacional e invertir más en educación formal de largo plazo, programas de capacitación de corto plazo y todo el sistema de transferencia del conocimiento.

scholarly journals Neo-Globalization: Premises, Processes and the Future

2017 ◽  
Vol 4 (7) ◽  
pp. 71
Author(s):  
M S S El Namaki
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Government Spending ◽  
Economic Activity ◽  
Free Market ◽  
The United States ◽  
Monetary Policies ◽  
Wearing Off ◽  
Wealth Tax ◽  
High Measure

Globalization, or the worldwide movement towards a high measure of economic, financial, trade, technology and communications integration, is a concept in need of an overhaul. The roots which have rested largely on President Reagan’s economic policy foundations of the early 80’s are wearing off. Free market, deregulation, income and wealth tax cut, reduced government spending and tight fiscal and monetary policies are challenged by events and disruptions. Economic growth vehicles are shifting away from manufacturing and services and locus of economic activity is moving towards China and its environs. Progression towards protective politics in the United States as much as the adoption of Brexit in Britain have hastened the blur.

Paradigm Of National Income in Islamic Economy

2021 ◽  
Vol 7 (1) ◽  
pp. 93-102
Author(s):  
Hery Purwanto ◽  
Siswahadi Siswahadi
Keyword(s):  
Economic Growth ◽  
Economic Activity ◽  
National Income ◽  
Eternal Life ◽  
Economic Growth And Development ◽  
Literal Sense ◽  
Goods And Services ◽  
Long Run ◽  
The World ◽  
Production Increase

Economic growth and development are macroeconomic problems in the long run. Every country has the opportunity to realize economic growth because the factors of the production increase from one period to another and therefore national income can be increased. National income is one of the important variables in macroeconomic discussions. The term national income is a translation of national income (in full, National Income Accounts). National income does not only calculate national income but also calculates expenditures, even for goods and products nationally. These calculations are performed periodically, usually in annual or quarterly units of time. Since national income can mean all income, all expenditure, or all production of goods and services, the calculation can be made based on the type of economic activity. In Islamic economics, national income is measured by the parameter Falah, namely true welfare and welfare. The sources of national income according to Islam are zakat, fai, and ghanimah. In a literal sense, Falah is glory and victory in life. For the life of the world, Falah includes three definitions, namely survival, freedom of desire, and strength and honor. As for the hereafter, Falah includes the meaning of eternal life, prosperity and eternal glory, and eternal knowledge.

More on Non-White Poverty and Economic Growth

2011 ◽  
Author(s):  
Gary A Hoover ◽  
Sondra R Collins ◽  
Mehmet E. Yaya
Keyword(s):  
United States ◽  
Economic Growth ◽  
Gross Domestic Product ◽  
Unemployment Rate ◽  
Economic Activity ◽  
The United States ◽  
Seemingly Unrelated Regressions ◽  
White Poverty ◽  
The Impact ◽  
Racial Ethnic

We use Seemingly Unrelated Regressions (SUR), to explore the impact of three different measures of economic activity -- growth in Gross Domestic Product (GDP), unemployment, and manufacturing employment -- on poverty among whites, blacks and Hispanics in the United States. This analysis is unique in that we further disaggregate the data, by looking at the impact of growth across racial/ethnic groups in four census regions. We find that the impacts of the various measures of economic activity vary greatly by the group and the region. In particular, Hispanic poverty tends to be strongly related to changes in the unemployment rate, while white poverty tends to be strongly related to changes in manufacturing.

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