Capital-labor substitution and economic efficiency
TL;DR: In this article, the authors proposed a method to improve the quality of the service provided by the service provider by using the information of the user's interaction with the provider and the provider.
Abstract: Обсуждаются следующие темы: чистая теория производства, функциональное распределение дохода, технический прогресс, источники международных конкурентных преимуществ. Анализируются эластичность замещения между трудом и капиталом в обрабатывающей промышленности; производственные функции различного типа.
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01 Jan 2017
TL;DR: In this paper, the authors tried to estimate the effect of human capital through education and health on economic growth in Turkey by using a Cobb-Douglas production function, in which labor, human capital, and physical capital are shown as factors of production.
Abstract: In a globalizing world economy, human capital is the main factor of intensive development for countries which carry out anticipatory investment in human capital. This organizes its advantages for these countries, by creating the best conditions for work and life. An important advantage in creating a stable environment for growth is that the country has the accumulated high-quality human capital, such as education, health, science, management and other fields. The core of human capital, of course, is human beings, but now, the main component is an educated, creative and enterprising individual, with a high level of professionalism. The human capital in the economy determines the main share of the national wealth of country. Therefore, most of all researchers believe human capital is the most valuable resource of the post-industrial society, and it is much more important than natural or accumulated wealth. In all countries, human capital defines the rate of economic development, scientific and technological progress. Accordingly, the public interest in the education and health systems increases. This paper tries to estimate the effect of human capital through education and health on economic growth. The estimation is conducted by a Cobb-Douglas production function, in which labor, human capital, and physical capital are shown as factors of production. The Cobb-Douglas production function is preferred by time series data on education, health, physical capital, labor and economic growth for the period of 1960–2011 of Turkey. The period is divided into five sub-divisions, series 1: 1960–1980, series 2: 1981–2001, series 3: 1981–2011, series 4: 2002–2011, and series 5: 1960–2011.The findings indicate a positive impact of human capital on economic growth for both health and education. In addition, health policies were much more effective in the period of 2002–2011. The policies should be continued in the health sector for a sustainable development. But in order to attain a higher level of benefits from human capital, it is necessary to implement effective economic policies related to the education expenditures.
9 citations
02 Oct 2018
TL;DR: In this article, the authors presented the results of gross regional product (GRP) production modeling in the regions of the Russia's North and in the Russian Federation as a whole (to compare the situation in the northern regions with the all-Russian situation).
Abstract: Investigation of the possible application of the production functions in the managing territorial development is an important area of scientific research. The urgency of the study is explained by the objective need for management practices in research results based on a meaningful analysis of trends and regularities of interaction of the basic regional development factors. The paper presents the results of gross regional product (GRP) production modeling in the regions of the Russia’s North and in the Russian Federation as a whole (to compare the situation in the northern regions with the all-Russian situation). The scientific-practical importance of modeling GRP production in the northern regions is determined by a new approach to management based on the formation of basic development zones through a series of interrelated different scale investment projects. A new approach to management requires a reliable assessment of the investment influence on GRP production, taking into account the evaluation of the effective use of human resources. The GRP production was modeled using a multiplicative production function and a CES production function. For most of the regions of the North and Russian Federation as a whole, the authors have chosen the variants of a model linking GRP to investments, which explains at least 70% of the spread in the initial data. The obtained model’s variants are a clear means of quantitative justification of investment projects in terms of assessing their impact on the development of the territories.
9 citations
01 Jan 1983
TL;DR: One of the conclusions resulting from early research on economic growth was the existence of a large residual in explaining the sources of the growth of output, and the difficulty inherent in this identification process has made it tough going for those who have set out to reduce this measure of our ignorance as discussed by the authors.
Abstract: One of the conclusions resulting from early research on economic growth was the existence of a large residual in explaining the sources of the growth of output. While it amounts to a tautology to say that all output must result from some source, it is also fairly obvious that many of these sources of growth may never be properly identified or measured; and the difficulty inherent in this identification process has made it tough going for those who have set out to reduce this “measure of our ignorance.”
9 citations
TL;DR: In this article, a Solow model with CES technology was used to generate the transition path with endogenous growth and revealed a direct link between the substitution parameter and the estimated transition parameter.
Abstract: The religious transition is the decline of religiosity with rising levels of income. The empirical robustness of the transition has been demonstrated. It appears that the transition is driven by the substitution of scientific knowledge for religious beliefs, which characterizes the process of modern economic growth. This note models the substitution process. A Solow model with CES technology generates the transition path with endogenous growth and reveals a direct link between the substitution parameter and the estimated transition parameter.
9 citations
TL;DR: In this article, the planner's dilemma re-examined in the context of agriculture versus industry in development policy is discussed. But the focus is on the agricultural versus industry relationship.
Abstract: (1969). Agriculture versus industry in development policy: The planner's dilemma re‐examined. The Journal of Development Studies: Vol. 5, No. 3, pp. 171-189.
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TL;DR: In this article, the authors proposed a method to improve the performance of the system by using the information of the user's interaction with the system and the system itself, including the interaction between the two parties.
Abstract: В статье производится анализ агрегированной производственной функции, вводится аппарат, позволяющий различать движение вдоль такой функции от ее сдвигов. На основании сделанных в статье предположений делаются выводы о характере технического прогресса и технологических изменений. Существенное внимание уделяется вариантам применения концепции агрегированной производственной функции.
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01 Jan 1956TL;DR: In this paper, a very brief treatment of three questions relating to the history of our economic growth since the Civil War is given, namely: (1) How large has been the net increase of aggregate output per capita, and to what extent has this increase been obtained as a result of greater labor or capital input on the one hand and of a rise in productivity on the other? (2) Is there evidence of retardation, or conceivably acceleration, in the growth of per capita output? (3) Have there been fluctuations in the rate of growth of output, apart
Abstract: Introduction This paper is a very brief treatment of three questions relating to the history of our economic growth since the Civil War: (1) How large has been the net increase of aggregate output per capita, and to what extent has this increase been obtained as a result of greater labor or capital input on the one hand and of a rise in productivity on the other? (2) Is there evidence of retardation, or conceivably acceleration, in the growth of per capita output? (3) Have there been fluctuations in the rate of growth of output, apart from the shortterm fluctuations of business cycles, and, if so, what is the significance of these swings? The answers to these three questions, to the extent that they can be given, represent, of course, only a tiny fraction of the historical experience relevant to the problems of growth. Even so, anyone acquainted with their complexity will realize that no one of them, much less all three, can be treated satisfactorily in a short space. I shall have to pronounce upon them somewhat arbitrarily. My ability to deal with them at all is a reflection of one of the more important, though one of the less obvious, of the many aspects of our growing wealth, namely, the accumulation of historical statistics in this country during the last generation. For the most part, the figures which I present or which underlie my qualitative statements are taken directly from tables of estimates of national product, labor force, productivity, and the like compiled by others.
1,031 citations
903 citations