• One strand of this literature appeals to the Meltzer-Richard median voter hypothesis (see, for instance, Alesina and Rodrik 1994 and Persson and Tabellini 1991). (cepr.org)
  • He was a professor at Stockholm University, longtime director of the International Institute for Economic Affairs, and in 1992-93 chaired the "Lindeck Commission," which laid out policy proposal for scaling back the Swedish welfare state, many of which were adopted after 1994. (blogspot.com)
  • The presented empirical results, using Korean data from 1998 to 2008, imply that education plays a significant role in the divergence of household wealth over time and that the government's financial aid package in the form of the new student loans program positively influences equality and short-run economic growth by promoting the number of skilled workers. (uni-muenchen.de)
  • Rodrik (1998) also used cross-sectional data and found no effects of capital account openness on economic growth. (socionauki.ru)
  • One important omission in this discussion is the real exchange rate, which may play an important role in igniting growth as Rodrik's work elsewhere on growth accelerations clearly demonstrates [Hausmann, Pritchett and Rodrik 2005]. (epw.in)
  • Effects of income inequality, researchers have found, include higher rates of health and social problems, and lower rates of social goods, a lower population-wide satisfaction and happiness and even a lower level of economic growth when human capital is neglected for high-end consumption. (wikipedia.org)
  • Against the background of inconclusive evidence about the inequality-growth relation, this paper suggests that the level of inequality increases via the human capital channel with credit market imperfections and that this increasing inequality negatively affects economic growth. (uni-muenchen.de)
  • Distributive Politics and Economic Growth, Scholarly Articles 455178, Harvard University Department of Economics. (uni-muenchen.de)
  • Journal of Economic Growth 8, 267-99. (uni-muenchen.de)
  • Journal of Economic Growth 14, 205-231. (uni-muenchen.de)
  • Economic growth, skill-biased technical change and wage inequality: A model and estimations for the US and Europe. (uni-muenchen.de)
  • R & D-Based Models of Economic Growth. (uni-muenchen.de)
  • Economic Growth and Income Inequality. (uni-muenchen.de)
  • Much has been written about the relationship between inequality and economic growth, yet a consensus on (even) the sign of this relationship has yet to emerge: Is high inequality today good or bad for future income growth prospects? (cepr.org)
  • Kaldor (1956), for example, considers income inequality as necessary for the provision of savings (the rich save more than the poor), and thus key for capital accumulation and economic growth. (cepr.org)
  • More unequal societies may then be more prone to wasting human resources, which would lead to lower growth. (cepr.org)
  • According to Galor and Moav (2006), the key to fast growth in modern societies is not capital accumulation but improvements in human capital. (cepr.org)
  • The rationale is that inequality of opportunity may harm economic growth because it favours human capital accumulation by individuals with better social origins, rather than by those with more talent. (cepr.org)
  • Bradbury and Triest (2016), using measures of absolute and relative inter-generational mobility as proxies for equality of opportunity, find that mobility has a positive effect on future economic growth. (cepr.org)
  • To study how inequality of opportunity affects the income growth of individuals at different steps of the socio-economic ladder, one must also understand growth. (cepr.org)
  • T his book is a collection of previously published essays (with one exception) organised around three topics: economic growth (Chapters 1 to 3), institutions (Chapters 4 to 6) and globalisation (Chapters 7 to 9). (epw.in)
  • After an introduction that states the proposition just mentioned in the previous paragraph and summarises the main arguments contained in each chapter, the first part of the book focuses on the past economic growth experience and its lessons for policy design. (epw.in)
  • chapter then summarises the stylised facts of the growth record and develops the argument that getting economic growth started requires a relatively narrow range of policy reforms (both orthodox and unorthodox) compared to the more extensive institutional reforms that are needed for sustaining growth over a long period. (epw.in)
  • But it not only revives an older approach present, for example, in two-gap and three-gap models of economic growth. (epw.in)
  • Rodrik and his coauthors propose an original way, in the form of a decision tree, of going about identifying the most binding constraints on growth or, to be more precise, on physical capital accumulation. (epw.in)
  • This report represent an excellent first step toward understanding the role of leadership in generating economic growth, and the author hope that they generate ideas and lead to new research on the problem of leadership in economic growth. (worldbank.org)
  • Whilst the country's economic growth follows traditional patterns of development, the size of China's population challenges the small-country assumption inherent in many macroeconomic trade models. (uni-muenchen.de)
  • Interestingly, Rodrik ( 2015 ) argues that in spite of efforts at industrialization, sub-Saharan African (SSA) countries, with the exception of Mauritius, have suffered significant deindustrialization, whereas some of their Asian counterparts have experienced significant growth in manufacturing value added. (springer.com)
  • Lima, G. T. (2007), "A structural economic dynamics approach to balance of-payments-constrained growth", Cambridge Journal of Economics, 31 (5), 755-774. (braziliankeynesianreview.org)
  • Jayme Jr., F. G. (2015), "A North-South Model of Economic Growth, Technological Gap, Structural Change and Real Exchange Rate", In: 41st Eastern Economic Association Annual Conference, New York. (braziliankeynesianreview.org)
  • Kaldor, N. (1966), "Causes of the slow rate of economic growth of the United Kingdom", Cambridge: Cambridge University Press. (braziliankeynesianreview.org)
  • The economic recovery in the euro area is continuing, supported by domestic demand, while export growth remains modest. (europa.eu)
  • At the same time, headwinds to the economic recovery in the euro area include the outcome of the UK referendum and other geopolitical uncertainties, subdued growth prospects in emerging markets, the necessary balance sheet adjustments in a number of sectors and a sluggish pace of implementation of structural reforms. (europa.eu)
  • However, the region's growth and economic integration path has often been obstructed by political upheavals and conflicts. (ciaonet.org)
  • The combined impact of these two effects is a slowdown of capital accumulation and economic growth. (repec.org)
  • The Rise of Europe: Atlantic Trade, Institutional Change and Economic Growth ," NBER Working Papers 9378, National Bureau of Economic Research, Inc. (repec.org)
  • The Rise of Europe: Atlantic Trade, Institutional Change and Economic Growth ," CEPR Discussion Papers 3712, C.E.P.R. Discussion Papers. (repec.org)
  • The Rise of Europe: Atlantic Trade, Institutioanl Change and Economic Growth ," Working papers 4269-02, Massachusetts Institute of Technology (MIT), Sloan School of Management. (repec.org)
  • Climate and Scale in Economic Growth ," CID Working Papers 48A, Center for International Development at Harvard University. (repec.org)
  • Overall, the study did not affirm the finance-led growth hypothesis of economic development in the selected economies. (researchwap.net)
  • The African economy occupies a vantage position in the global economic community due to her diverse natural resources, the high population and other growth potentials. (researchwap.net)
  • The demographic transition has enabled economies to convert a larger portion of the gains from factor accumulation and technological progress into growth of income per capita. (odedgalor.com)
  • It enhanced labor productivity and the growth process via three channels. (odedgalor.com)
  • First, the decline in population growth reduced the dilution of the growing stocks of capital and infrastructure, increasing the amount of resources per capita. (odedgalor.com)
  • The analysis suggests that the rise in the demand for human capital in the process of development was the main trigger for the decline in fertility and the transition to modern growth. (odedgalor.com)
  • Natural Selection and the Origin of Economic Growth. (odedgalor.com)
  • This research develops an evolutionary growth theory that captures the interplay between the evolution of mankind and economic growth since the emergence of the human species. (odedgalor.com)
  • Whilst the United States, for example, likes to imagine itself as a land of opportunity, social mobility is extremely low and in recent years the benefits of economic growth have been ever more concentrated in the very richest sectors of the population. (crookedtimber.org)
  • Conversely, some researchers have criticised the view that economic inequality causes worse health outcomes, with some studies failing to confirm the relationship or finding that the relationship was more complicated due to issues of determining causality, inadequate data, correlation versus causation or confounding variables (for example, more unequal countries tend to be economically poorer). (wikipedia.org)
  • A 2008 article by Andersen and Fetner also found a strong relationship between economic inequality within and across countries and tolerance for 35 democracies. (wikipedia.org)
  • In two studies Robert Putnam established links between social capital and economic inequality. (wikipedia.org)
  • Inequality, Human Capital Formation and the Process of Development (NBER Working Paper No. 17058). (uni-muenchen.de)
  • From Physical to Human Capital Accumulation: Inequality and the Process of Development. (uni-muenchen.de)
  • Inequality, Human Capital and Development: Making the Theory Face the Facts (MPRA Paper No. 18973). (uni-muenchen.de)
  • It becomes a string of political and social disasters and convulsions, and under these conditions, punctuated by periodic economic catastrophes and crises, accumulation can go on no longer. (monthlyreview.org)
  • and economic crises. (exploring-economics.org)
  • In pursuit of the "good life," less affluent societies focus on the material-that is, consumption and economic development. (sagepub.com)
  • She suggests alternative emergent ideologies, structures and processes, and practices to enable the enhancing potential of goods and thus move toward well-being, which she proposes to entail humane consumption embedded in human development. (sagepub.com)
  • [1] This process is marked by the common consumption of cultures that have been diffused by the Internet , popular culture media, and international travel . (wikipedia.org)
  • This research argues that the differential effect of international trade on the demand for human capital across countries has been a major determinant of the distribution of income and population across the globe. (odedgalor.com)
  • Attention is concentrated on defining the aspects of Georgia's competitiveness, evaluating the country's economic performance, and suggesting practical recommendations for reforms and development. (cria-online.org)
  • This dissertation is anchored in the disruptive impact of China's resource-based economic expansion over the last two decades. (uni-muenchen.de)
  • This free trade approach deepens the process of uneven development and unequal exchange as seen, for instance, in the Trump Administration's attempts to hinder China's economic development by means of disadvantageous trade agreements. (worldfinancialreview.com)
  • China's impressive health and education performance help laid the foundations for its subsequent economic achievements. (blogspot.com)
  • Most of the empirical studies in relation to the so-called third wave of globalization 1 employ proxies such as trade, capital flows and openness as the measure of globalization using cross-section data (Dreher 2006: 1092). (socionauki.ru)
  • The Quality of Goverment ," NBER Working Papers 6727, National Bureau of Economic Research, Inc. (repec.org)
  • International R&D Spillovers ," NBER Working Papers 4444, National Bureau of Economic Research, Inc. (repec.org)
  • Lessons from the East Asian NICS: A contrarian view ," European Economic Review , Elsevier, vol. 38(3-4), pages 964-973, April. (repec.org)
  • We also observed significant differences in behavioral/process indicators between the treated firms and their counterparts that were not trained and had not adopted Kaizen . (springer.com)
  • Sets up tensions between processes of homogenization that contribute on the one hand to flattening social differences and human experience, while on the other hand enhancing the sense of the local and promoting counter-globalizing movements. (wikipedia.org)
  • Though it shares a similar historical background, the Western world is not a monolithic bloc, as many cultural, linguistic, religious, political, and economic differences exist between Western countries and populations. (alquds.edu)
  • In more equal societies, people are much more likely to trust each other, measures of social capital (the benefits of goodwill, fellowship, mutual sympathy and social connectedness among groups who make up a social units) suggest greater community involvement, and homicide rates are consistently lower. (wikipedia.org)
  • Finally, for the transformationalists, chief among them being Rosenau and Giddens, contemporary patterns of globalization are conceived of as historically unprecedented, such that states and societies across the globe are experiencing a process of profound change as they try to adapt to a more interconnected but highly uncertain world. (cria-online.org)
  • The overall process of Westernization is often two-sided in that Western influences and interests themselves are joined with parts of the affected society, at minimum, to become a more Westernized society, with the putative goal of attaining a Western life or some aspects of it, while Western societies are themselves affected by this process and interaction with non-Western groups. (alquds.edu)
  • This paper shows this regime is in fact heavily biased towards the demands of rich and powerful countries and against the needs of developing countries (Reinert, 2007, Rodrik, 2004). (worldfinancialreview.com)
  • Furthermore, this regime undermines elected legislatures and their democratic decision-making processes through constraints imposed by neoliberal treaties and associated mechanisms for the settlement of international disputes. (worldfinancialreview.com)
  • This has become urgent due to the global economic downturn, which has highlighted the economic interdependence in today's world and reinforced the need for a concerted global economic effort. (cria-online.org)
  • We expand the model presented by Galor and Zeira (1993) to represent the fact that the economy benefits from endogenous technological progress and that the government provides financial aid to reduce the financial hurdles for human capital accumulation. (uni-muenchen.de)
  • After comparing the capital account policies of China and Brazil, this paper concludes that the policy prescriptions of the New Welfare Economics do not lead to higher levels of national autonomy for DEEs and are likewise unable to curb financial instability in these countries. (ciaonet.org)
  • If any policy whatsoever could be seen as examples of promoting accumulation, sustaining legitimacy or of relative autonomy, what might represent refutation of our theory of the state? (typepad.com)
  • It is a product of the restructuring of the global political economy through the neoliberal class project (starting around 1980), its implementation and lock-ins through structural adjustment and austerity, punctuated by currency collapses, ballooning private and public debt, overheating of housing markets, economic collapses, and widespread precarity. (monthlyreview.org)
  • The abdication by the US of its traditional role of global coordination and discipline, as exerted under the post-war embedded liberal or the neoliberal American-led orders, is creating opportunities for more permissive and varied "reembededness" and diverse forms of economic integration. (ciaonet.org)
  • and technological development negatively influences industrial output, which suggests poor human capital-industry linkage. (researchwap.net)
  • In this note, the process known as the demographic dividend is conceptualized in a Chilean context. (blogspot.com)
  • Additionally, the growing presence of Chinese producers in Southern resource industries has the potential to accentuate structural changes in the organisation of production, because Chinese actors' activities are said to be concentrated in the extractive rather than the processing stages of production, often in disregard of socio-environmental consequences. (uni-muenchen.de)
  • The author discusses human and environmental consequences of this focus. (sagepub.com)
  • The author explains that the 35-hour week has had consequences in other areas, the process being particularly marked by an emphasis on enterprise bargaining: resulting in an increase in the heterogeneity and flexibility of work conditions, and modifications to the framework of negotiations and industrial relations. (parisschoolofeconomics.eu)
  • Today, in sharp contrast, openness to trade and foreign private capital is thought to be not just conducive to but essential for development. (epw.in)
  • Thus the book is at the same time a defence of neoclassical economic theory and heterodoxy in economic policy or, perhaps better, it attempts to ground heterodox policy in sound neoclassical foundations. (epw.in)
  • Globalization is one of the most closely observed processes among scholars, policy makers, politicians and even the general public (Collier and Gunning 2008: 1-2). (socionauki.ru)
  • Supported by the ECB's monetary policy measures and the expected economic recovery, inflation rates should increase further in 2017 and 2018. (europa.eu)
  • The monetary policy measures in place since June 2014, including the comprehensive package of new monetary policy measures adopted in March this year, have significantly improved borrowing conditions for firms and households, as well as credit flows across the euro area, thereby supporting the economic recovery. (europa.eu)
  • Against this background, this paper discusses to what extent the new mainstream position on capital flow management measures, based on the New Welfare Economics, expands the policy space of developing and emerging economies (DEEs). (ciaonet.org)
  • Following the voluntary Robien policy, from 1997 the so-called Aubry laws implemented a programme to reduce working hours according to the then-dominant neo-classical economic theories. (parisschoolofeconomics.eu)
  • Economic Policy. (congressionalresearch.com)
  • I think it is much more realistic to understand that the economic and policy models that were being used to make decisions were fundamentally flawed from the outset if you really want to understand the current and future economic situation. (metafilter.com)
  • and under Thatcher and Blair, a big part of economic policy was aimed at attracting businesses and maintaining confidence. (typepad.com)
  • Section II provides the recent trends and linkage between globalization and human aspects of development and poverty, as well as the working definitions of key terms. (socionauki.ru)
  • This has added to processes of commodity exchange and colonization which have a longer history of carrying cultural meaning around the globe. (wikipedia.org)
  • This paper evaluates the effects of globalization on human development, gender development and human poverty in the developing countries and compares the effects across world regions as well as the income groups of countries. (socionauki.ru)
  • Applying the GLS random effect model to the annual panel data of 124 developing countries covering 9 years from 1997, the study shows that globalization, measured by the KOF Index of globalization, not only promotes human and gender development but also reduces human poverty significantly. (socionauki.ru)
  • The index finds that while the country has narrowed its income gap with the richer countries since the economic liberalization of the early 1990s, the health and education gap continues to widen. (blogspot.com)
  • Summarising very briefly, capital accumulation may be constrained by inadequate social returns (due, for example, to lack of infrastructure or human capital), by a large wedge between social and private returns (associated, for example, with information and coordination externalities or with government failures) or by a high cost or lack of availability of finance for domestic investment. (epw.in)
  • Not surprisingly, all three aspects of globalization (economic, social and political) contribute to the overall effect of globalization. (socionauki.ru)
  • 2004) and Tsai (2007) have investigated this question by assessing globalization's effects on human and social aspects of development, their efforts are still exploratory and further empirical examinations are necessary. (socionauki.ru)
  • This article looks back at more than 15 years of changes to working hours: Philippe Askenazy draws a portrait very different from this commonplace view, on an institutional level as well as in its social and economic dimensions. (parisschoolofeconomics.eu)
  • Whereas the impact of globalization is being debated, there is a broad-based recognition that the role of the State has to be redefined to take account of the emerging political, economic, social and cultural challenges. (cria-online.org)
  • One of those citations occurs in Marx's Grundrisse , immediately after the following characteristically revolutionary proposition: "Forces of production and social relations -- two different sides of the development of the social individual -- appear to capital as mere means for it to produce on its limited foundation. (blogspot.com)
  • It seems safe to say that Capital in the Twenty-First Century , the magnum opus of the French economist Thomas Piketty, will be the most important economics book of the year-and maybe of the decade. (harvard.edu)
  • Piketty's Capital in the Twenty-First Century is an intellectual tour de force, a triumph of economic history over the theoretical, mathematical modeling that has come to dominate the economics profession in recent years. (harvard.edu)
  • Avec une petite contribution, tu peux aider Exploring Economics à rester en ligne. (exploring-economics.org)
  • The 2007-2009 Global Financial Crisis (GFC) eroded the consensus around the benefits of capital mobility within mainstream economics. (ciaonet.org)
  • The rise of schools of economic thought, such as Ecological Economics and Environmental Economics are clarion calls to challenge prevailing orthodox thought as seen with New Keynesian thought and a Neoclassical Synthesis. (greenpolicy360.net)
  • But even before this natural economic impasse of capital's own creating is properly reached it becomes a necessity for the international working class to revolt against capital. (monthlyreview.org)
  • 2004: 292-295) and empirical testing some of the linkages by Tsai (2007: 121-122) conclude that globalization has both positive and adverse effects on human QOL. (socionauki.ru)
  • For the purpose of this study, globalization is defined as the diffusion of goods, services, capital, technology, and people (workers) across national borders, and the definition and measurement will be discussed further in Section II. (socionauki.ru)
  • The present study attempts to contribute to the study of globalization by an empirical analysis to test the theories proposed by earlier research, with a focus on the human aspects of development. (socionauki.ru)
  • Globalization increases objective and subjective insecurities among a great many workers and producers … different faces of economic globalization can be expected to have different implications for risk. (paperanswers.com)
  • Bair, Jennifer (2010): On Difference and Capital: Gender and the Globalization of Production. (mattersburgerkreis.at)
  • Second, the reduction in fertility rates permitted the reallocation of resources from the quantity of children toward their quality, enhancing human capital formation and labor productivity. (odedgalor.com)
  • The outcome will reverberate in global capital and financial markets and influence the behavior of dozens of other governments. (projectallende.org)
  • Or was it an outcome of the rise in the demand for human capital in the second phase of industrialization? (odedgalor.com)
  • If we look at some indicative economic evidence it does indeed seem as if Chile is the odd man out in Latin America with the Peso performing somewhat better than the main benchmark (according to me) in the form of the Brazilian Real as well as the markedly lower increase in sovereign debt spread due to the crisis. (blogspot.com)
  • Piketty's ground-breaking work on the historical evolution of income distribution is impressive…One of the best economic books in decades. (harvard.edu)
  • This is an appeal to the subscribers, contributors, advertisers and well-wishers of Economic and Political Weekly (EPW), published by Sameeksha Trust, a public charitable trust registered with the office of the Charity Commissioner, Mumbai, India. (epw.in)
  • It became clear in the course of the work that politics, leadership, and political economy (the interaction of economic and political forces and choices) were centrally important ingredients in the story. (worldbank.org)
  • Dealing with the politics and the interaction of political and economic forces is a work in progress in research, an important one. (worldbank.org)
  • Our current economic and political situation is not so simple as to admit a single-factor explanation. (metafilter.com)
  • These essays focus on the constitution of regulatory communities (political, economic, and religious) as they manage their constituencies and the conflicts between them. (blogspot.com)
  • While Ghana still awaits a takeoff in industrial development, there has been a structural transformation, characterized by a leapfrogging of the manufacturing sector particularly with respect to the pattern and trends in labor movement across the major economic sectors. (springer.com)
  • There are three components to the model: first, increases in capital per worker raise women's relative wages, since capital is more complementary to women's labor input than to men's. (odedgalor.com)
  • Economic Policies. (congressionalresearch.com)
  • The main goal is to capture, from amongst the existing methodologies and best practices on the innovation systems concept, the ideas that can enrich our discussion about the instrumental role of NIS in competitiveness-oriented economic development policies in Georgia. (cria-online.org)
  • Perceptions of unequal opportunities, by affecting individual aspirations, may also reduce investments in human capital. (cepr.org)
  • We are vested in protecting inalienable rights and offer a rights agenda based on a core set of values ensuring civil and minority rights, human rights, natural rights, women's rights. (greenpolicy360.net)
  • To borrow a neat analogy (pdf) from another discipline, think of the relationship between capital and the state as being like that between a woman and her dog on an extendable lead. (typepad.com)
  • And third, lower fertility raises the level of capital per worker. (odedgalor.com)
  • This paper examines afresh the extent to which foreign trade, foreign private capital and foreign aid are helpful or unhelpful for development in labour-surplus dual economies. (epw.in)
  • In the media, the topic of Trade Secretary Liam Fox's accumulation of air-miles is a running gag, while ex-foreign minister Boris Johnson recently came back from a trip to Peru bubbling with enthusiasm at the prospect of ramping up trade with the Latin American country (only 10,138 kilometres away). (newint.org)
  • You cannot behave differently to every other country which defaults and expect to enjoy access to our capital markets, [and] expect to enjoy any special trade concessions as they do in the United States under the General System of Preferences. (projectallende.org)
  • Foreign trade and foreign private capital were earlier thought to have no role to play in development. (epw.in)
  • It concludes that managed trade is generally helpful while foreign private capital and foreign aid can be helpful only under certain rather special conditions. (epw.in)
  • I n the 1950s and the 1960s, development economists saw no role for either foreign trade or foreign private capital in late industrialisation, which was viewed as the principal route to development. (epw.in)
  • Indeed, it was widely held that free trade and unrestricted inflow of foreign private capital would undermine late industrialisation so that protection against both was necessary. (epw.in)
  • On this view, foreign trade and foreign private capital could be seen as cures for coordination failure. (epw.in)
  • The objective of this paper is to extend that analysis to an assessment of the roles of foreign trade and foreign capital (private as well as public) in the process of development in such economies. (epw.in)