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Economic growth

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Full-Text Articles in Economics

Culture And Prosperity: The Truth About Markets—Why Some Nations Are Rich But Most Remain Poor (Book Review), Jonathan B. Wight Dec 2004

Culture And Prosperity: The Truth About Markets—Why Some Nations Are Rich But Most Remain Poor (Book Review), Jonathan B. Wight

Economics Faculty Publications

John Kay’s latest book offers an absorbing romp through the history of economic thought in the 20th century. Kay attempts to explain the complex reality of a modern market system rather than resorting to simplistic theorizing about it. Gone are perfectly rational traders, perfectly competitive markets, incentive compatibilities, low transaction costs, informational symmetries, and no externalities. Kay highlights problems and problem solving as the ubiquitous and historical strata through which markets in the West evolved.

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Unleashing Entrepreneurship, Ishrat Husain Dr. Dec 2004

Unleashing Entrepreneurship, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I wish to commend the FPCCI and UNDP for launching the Report of the Commission appointed by the Secretary General on Unleashing entrepreneurship. The Commission had learned scholars and practitioners such as Prof. C. K. Prahalad and Mr. Hernando de Soto as members for whose views on poverty alleviation are highly refreshing and I have great respect for them. The Report reflects their views and hence the Report is not only useful but practicable. The Commission has made an extremely important contribution to the debate on how to harness the energies and entrepreneurs of the private firms, farmers, businesses – …

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Deregulation And Its Implications For Economic Growth, B.E. Aigbokhan Dec 2004

Deregulation And Its Implications For Economic Growth, B.E. Aigbokhan

Economic and Financial Review

The study found that real exchange rate has a positive and significant impact on growth, inflation has similar impact. Government fixed investment has negative significant impact on growth, and so does external debt. Fiscal deficit was found to have positive but insignificant impact on growth. As the period covered in the study contains twenty six pre-deregulation years, the influence of deregulation may not have been accurately captured. Partly to address this concern, a dummy variables was introduced for the SAP years. It was found not to be significant, implying that the (SAP) introduced since 1986 did not translate into long-run …

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Comparison Of Pakistani Economy With Asean Economies, Ishrat Husain Dr. Nov 2004

Comparison Of Pakistani Economy With Asean Economies, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

It is now widely accepted that the Asian economies have done extremely well in terms of economic growth and poverty reduction during the last three to four decades or so despite the crisis of 1997. Three decades ago, China was among the World’s poorest countries with 80 percent of the population having incomes less than US$1 per day and only a third of all adults able to read or write. By 2000 the proportion of the poor (income less than US$1 per day) had declined to around 16 percent. Korea and Pakistan had identical per capita incomes of $100 in …

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Retrospective On The Postwar Productivity Slowdown, William D. Nordhaus Nov 2004

Retrospective On The Postwar Productivity Slowdown, William D. Nordhaus

Cowles Foundation Discussion Papers

The present study reviews the “productivity slowdown” of the 1970s and 1980s. The study also develops a new data set — industrial data available back to 1948 — as well as a new set of tools for decomposing changes in productivity growth. The major result of this study is that the productivity slowdown of the 1970s has survived three decades of scrutiny, conceptual refinements, and data revisions. The slowdown was primarily centered in those sectors that were most energy-intensive, were hardest hit by the energy shocks of the 1970s, and therefore had large output declines. In a sense, the energy …

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Financial Sector Development And Economic Growth In Nigeria: An Empirical Investigation, J. Nnanna Sep 2004

Financial Sector Development And Economic Growth In Nigeria: An Empirical Investigation, J. Nnanna

Economic and Financial Review

In this paper, a single equation econometric model is specified to assess the impact of the Nigerian financial sector on economic growth. In recognition of the key role the financial sector plays in economic development, the paper recommends the sustenance of distress resolution initiatives, adequate capitalization of the banks, reduction of government dominance in the credit market, and a comprehensive approach to financial sector surveillance.

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Small Cities Blues: Looking For Growth Factors In Small And Medium-Sized Cities, George A. Erickcek, Hannah J. Mckinney Jun 2004

Small Cities Blues: Looking For Growth Factors In Small And Medium-Sized Cities, George A. Erickcek, Hannah J. Mckinney

Upjohn Institute Working Papers

The purpose of this exploratory study is to attempt to identify particular public policies which have the potential to increase the economic viability of smaller metropolitan areas and cities. We identify characteristics associated with smaller metro areas that performed better-than-expected (winners) and worse-than-expected (losers) during the 1990s, given their resources, industrial mix, and location as of 1990. Once these characteristics have been identified, we look for evidence that public policy choices may have promoted and enhanced a metro area's ability to succeed and to regain control of its own economic destiny. Methodologically, we construct a regression model which identifies the …

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From Efficiency-Driven To Innovation-Driven Economic Growth: Perspectives From Singapore, Kim Song Tan, Sock-Yong Phang May 2004

From Efficiency-Driven To Innovation-Driven Economic Growth: Perspectives From Singapore, Kim Song Tan, Sock-Yong Phang

Research Collection School Of Economics

The Singapore economy is going through a period of major restructuring. Economic stagnation since the 1997 Asia financial crisis (except for a brief recovery in 1999) has called into question the continued relevance of many fundamental policies that had worked well in the past. In 2002, a high-level Economic Review Committee (ERC) was convened by the government to chart new directions for the economy. A common thread that ran through the committee’s various reports was a call to enhance the economy’s innovative capacity, with the aim of making Singapore an innovation hub in the region. The call reflects an increased …

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Thinking About The Future Of Small Metropolitan Areas, George A. Erickcek, Hannah J. Mckinney Apr 2004

Thinking About The Future Of Small Metropolitan Areas, George A. Erickcek, Hannah J. Mckinney

Employment Research Newsletter

No abstract provided.

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Financial Sector Reforms And Pro-Poor Growth: Case Study Of Pakistan, Ishrat Husain Dr. Feb 2004

Financial Sector Reforms And Pro-Poor Growth: Case Study Of Pakistan, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

The attributes of a well functioning financial system are quite well known by now. Such a system is necessary for enhancing the efficiency of intermediation, which is achieved by reducing information, transaction, and monitoring costs; for promoting productive investment by identifying and funding good business opportunities; for mobilizing domestic savings; for monitoring the performance of businesses; for enabling the trading, hedging, and diversification of risk; and for facilitating the exchange of goods and services. These functions result in allocation of resources to the most efficient, resulting in a more rapid accumulation of physical and human capital, and faster technological progress, …

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The Role Of Small Business In Economic Growth And Poverty Alleviation In West Virginia: An Empirical Analysis, Gebremeskel H. Gebremariam, Tesfa Gebremedhin, Randall Jackson Jan 2004

The Role Of Small Business In Economic Growth And Poverty Alleviation In West Virginia: An Empirical Analysis, Gebremeskel H. Gebremariam, Tesfa Gebremedhin, Randall Jackson

Regional Research Institute Working Papers

The main objective of the study is to empirically evaluate the critical roles of small businesses in economic growth and poverty alleviation in West Virginia. In OLS and 2SLS regression analysis a positive relationship exists between small business and economic growth. A strong inverse relationship also exists between the incidence of poverty and small business and economic growth. Thus, the empirical result establishes the linkage between small business, economic growth and the incidence of poverty.

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Review: Liah Greenfeld, The Spirit Of Capitalism: Nationalism And Economic Growth (Cambridge, Mass., 2001), Andre Wakefield Dec 2003

Review: Liah Greenfeld, The Spirit Of Capitalism: Nationalism And Economic Growth (Cambridge, Mass., 2001), Andre Wakefield

Pitzer Faculty Publications and Research

Reviewed work: Liah Greenfeld. The Spirit of Capitalism: Nationalism and Economic Growth. Cambridge, Mass.: Harvard University Press, 2001. Pp. xi+541. $45.00

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Benchmarking Study Of The Small Business Environment In Saginaw County, George A. Erickcek, Brad R. Watts Nov 2003

Benchmarking Study Of The Small Business Environment In Saginaw County, George A. Erickcek, Brad R. Watts

Reports

No abstract provided.

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Funded Pensions, Labor Market Participation, And Economic Growth, Mark A. Roberts, Eric O'N. Fisher Sep 2003

Funded Pensions, Labor Market Participation, And Economic Growth, Mark A. Roberts, Eric O'N. Fisher

Economics

This paper analyses a model of overlapping generations in which agents who do not participate in the labor market are unable to borrow. Thus an increase in a fully funded pension raises aggregate savings even with a fixed participation rate since private savings are not crowded out one-for-one. When labor force participation is determined endogenously, a rise in the level of fully funded pensions increases the aggregate labor supply. This in turn increases aggregate savings and growth, directly by raising per capita savings and indirectly through tax and interest rate effects.

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The Benton Harbor Area Benchmarking Study, George A. Erickcek, Brad R. Watts Sep 2003

The Benton Harbor Area Benchmarking Study, George A. Erickcek, Brad R. Watts

Reports

No abstract provided.

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An Economic Analysis Of Fiscal Federalism In Ethiopia, Abu Girma Moges Jul 2003

An Economic Analysis Of Fiscal Federalism In Ethiopia, Abu Girma Moges

International Conference on African Development Archives

Fiscal federalism is a process of redistribution of fiscal decision-making power in an effort to improve the performance of the public sector in resource mobilization, efficient resource allocation and in the process enabling the economy achieve fast and sustainable economic growth. This paper addresses the economic rationale, implications and concerns of pursuing fiscal federalism in a poor country and in a political environment of ethnic federalism. The main findings suggest that when fiscal decentralization is exercised with high horizontal and vertical imbalances, it fails to diversify public output in line with the preferences and priorities of local population and to …

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The Role Of Equipment Investment In Nigeria's Growth Process, James Akperan Adam, Oladipo Tajudeen Busari Jun 2003

The Role Of Equipment Investment In Nigeria's Growth Process, James Akperan Adam, Oladipo Tajudeen Busari

Economic and Financial Review

This paper examines empirically the role of equipment investment in Nigeria's growth process. A growth accounting equation was utilized to analysed the contribution of private capital stock to growth. A Granger-causality test was also employed to explore the relationship between components of domestic fixed investment, productivity growth, labour force growth and economic growth. In addition, regression analysis was employed to complement the other methods. The first conclusion is that for sustainable growth, private capital stock growth need to rise to a level of 9 percent, for fixed investment- GDP ratio to oncrease by 18 percent. In the second approach, the …

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International Economic Convergence: Measuring Economic Growth And Income Inequality From 1975-1999, Brian Kent Smedley May 2003

International Economic Convergence: Measuring Economic Growth And Income Inequality From 1975-1999, Brian Kent Smedley

Undergraduate Honors Capstone Projects

As the world continues to be reshaped by technological advances and globalization, national borders are rapidly dissolving. Nations that are many thousands of miles away now seem closer than ever due to modern technology and transportation. The world has experienced tremendous progress and economic growth in the last few decades, and today people in many countries enjoy a higher standard of living than the world's citizens have ever known. Yet despite all that we have accomplished as a human society, somehow we are still unable to solve the most fundamental problem facing humanity: relieving the poverty and misfortune of billions …

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Entrepreneurship And Economic Growth: The Proof Is In The Productivity, Douglas Holtz-Eakin, Chihwa Kao Jan 2003

Entrepreneurship And Economic Growth: The Proof Is In The Productivity, Douglas Holtz-Eakin, Chihwa Kao

Center for Policy Research

Popular and policy discussions have focused extensively on "entrepreneurship." While entrepreneurship is often viewed from the perspective of the individual's benefits--an increase in standard of living, flexibility in hours, and so forth--much of the policy interest derives from the presumption that entrepreneurs provide economy-wide benefits in the form of new products, lower prices, innovations, and increased productivity. How large are these effects? Using a rich panel of state-level data, we quantify the relationship between productivity growth--by state and by industry--and entrepreneurship. Specifically, we use state-of-the-art econometric techniques for panel data to determine whether variations in the birth rate and death …

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What Caused Enron? A Capsule Social And Economic History Of The 1990s, John C. Coffee Jr. Jan 2003

What Caused Enron? A Capsule Social And Economic History Of The 1990s, John C. Coffee Jr.

Faculty Scholarship

The sudden explosion of corporate accounting scandals and related financial irregularities that burst over the financial markets between late 2001 and the first half of 2002 e.g., Enron, WorldCom, Tyco, Adelphia, and others-raises an obvious question: why now? What explains the sudden concentration of financial scandals at this moment in time? Much commentary has rounded up the usual suspects and blamed the scandals on a decline in business morality, “infectious greed,” and similar subjective trends that cannot be reliably measured.

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Empirical Analysis Of Economic Growth, Winford Henderson Masanjala Jan 2003

Empirical Analysis Of Economic Growth, Winford Henderson Masanjala

LSU Doctoral Dissertations

International evidence on growth rates in per capita incomes reveals persistent differences in development patterns among nations, and shows that the world distribution of per capita income is multi-modal with several basins of attraction. This dissertation investigates the factors underlying these international variations in both the level and rate of growth of per capita incomes. The first essay examines whether nonlinearities in the aggregate production function can explain parameter heterogeneity in the Solow (1956) growth regressions. The choice of and alternative specification of the production function is justified by showing that cross-country level regressions are more consistent with the more …

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Venture Capital And Economic Growth: An Industry Overview And Singapore's Experience, Francis Koh, Winston T. H. Koh Nov 2002

Venture Capital And Economic Growth: An Industry Overview And Singapore's Experience, Francis Koh, Winston T. H. Koh

Research Collection School Of Economics

This paper provides an overview of the venture capital industry, and its development in Asia and Singapore. Venture capital plays an important role in innovation and economic growth. Indeed, the resurgence of the United States as a technology leader is intimately linked to the success of Silicon Valley. As Singapore enters the next phase of economic development, the creation of internal engines of growth is an urgent task. The Singapore government has done much to provide an environment for entrepreneurship to thrive. Its success at replicating the Silicon Valley culture will be important for Singapore’s future economic success.

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Venture Capital And Economic Growth: An Industry Overview And Singapore's Experience, Francis Koh, Winston T. H. Koh Nov 2002

Venture Capital And Economic Growth: An Industry Overview And Singapore's Experience, Francis Koh, Winston T. H. Koh

Research Collection Lee Kong Chian School Of Business

This paper provides an overview of the venture capital industry, and its development in Asia and Singapore. Venture capital plays an important role in innovation and economic growth. Indeed, the resurgence of the United States as a technology leader is intimately linked to the success of Silicon Valley. As Singapore enters the next phase of economic development, the creation of internal engines of growth is an urgent task. The Singapore government has done much to provide an environment for entrepreneurship to thrive. Its success at replicating the Silicon Valley culture will be important for Singapore's future economic success.

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Economic Analysis Of The Calhoun County Economy: What Needs To Be Done For The Future? Final Report, George A. Erickcek, Brad R. Watts Aug 2002

Economic Analysis Of The Calhoun County Economy: What Needs To Be Done For The Future? Final Report, George A. Erickcek, Brad R. Watts

Reports

No abstract provided.

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Economic Impact Of Pharmacia On Kalamazoo County In 2001, George A. Erickcek, Brad R. Watts Apr 2002

Economic Impact Of Pharmacia On Kalamazoo County In 2001, George A. Erickcek, Brad R. Watts

Reports

No abstract provided.

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Endogenous Growth And Equilibrium Unemployment In A North-South Model Of The World Economy, Hian Teck Hoon Feb 2002

Endogenous Growth And Equilibrium Unemployment In A North-South Model Of The World Economy, Hian Teck Hoon

Research Collection School Of Economics

A North-South model is developed which incorporates an endogenous rate of equilibrium unemployment in the North in the context of long-run growth. It is shown how increases in the size of public debt and unemployment compensation financed by payroll taxation, all measured relative to productivity, raise the Northern natural rate of unemployment and, consequently, reduce the global rate of long-run growth. The effect of the shocks is also to drive down the rate of employment expansion in the South. A set of the fundamental determinants of the world terms of trade is obtained, which includes policy parameters.

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Future Exchange Rate Regimes For Developing East Asia: Exploring The Policy Options, Sven W. Arndt Jan 2002

Future Exchange Rate Regimes For Developing East Asia: Exploring The Policy Options, Sven W. Arndt

CMC Faculty Publications and Research

No abstract provided.

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Part 1: Hampton Roads… A Comparative Tour, Regional Studies Institute, Old Dominion University Jan 2002

Part 1: Hampton Roads… A Comparative Tour, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

We compare Hampton Roads to other metropolitan areas by means of more than 30 different economic, social, and educational variables. This section should be a valuable reference

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Do Exchange Rate Regimes Affect Countries' Economic Growth And Inflation?, Yen Shern Chew Jan 2002

Do Exchange Rate Regimes Affect Countries' Economic Growth And Inflation?, Yen Shern Chew

Honors Papers

The main focus of this paper is to answer the question of whether the exchange rate regime adopted by a country affects its economic growth (the measurement of output growth used is real per capita GDP growth) and inflation. There has been previous work done which looked at the same question; however, different authors have drawn different conclusions. As Levy-Yeyati and Sturzenegger (2002) point out, previous studies trying to relate exchange rate regimes to macroeconomic performance have only had relatively weak empirical findings. They attribute this to the possibility that the IMF's de jure classification, based on what regime countries …

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The Economic Impact Of Cornerstone Alliance On Berrien County, George A. Erickcek Dec 2001

The Economic Impact Of Cornerstone Alliance On Berrien County, George A. Erickcek

Reports

No abstract provided.

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