Open AccessJournal Article
The New Growth Evidence
TLDR
This paper surveys the recent empirical literature on economic growth, starting with a discussion of stylized facts, data problems, and statistical methods and concludes that efficiency has grown at different rates across countries, casting doubt on neoclassical models in which technology is a public good.Abstract:
Why do growth rates differ? This paper surveys the recent empirical literature on economic growth, starting with a discussion of stylized facts, data problems, and statistical methods. Six research questions are emphasized, drawing on growth and convergence research. In answering these questions, the paper argues that efficiency has grown at different rates across countries, casting doubt on neoclassical models in which technology is a public good. The latter half of the paper rounds up a variety of findings before providing answers to all six questions, including a short summary of how differences in growth rates arise.read more
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Specifying human capital
TL;DR: A review of the measures of the stock of human capital used in empirical growth research as discussed by the authors reveals that human capital is mostly poorly proxied, and the simple use of the most common proxy, average years of schooling, misspecifies therelationship between education and human capital.
Risk Aspects of Investment-Based Social Security Reform: Introduction
TL;DR: In this paper, the authors evaluate the magnitude of the risks that both retirees and taxpayers would assume and show that the risk is actually moderate relative to the improved return, as well as being balanced by the ability of an investment-based system to adapt to differences in individual preferences and conditions.
Efficiency and equity in European education and training systems
TL;DR: The contribution of economic and social sciences of education to education is discussed in this paper, where the authors consider the following: 1.1.1 Economic and other social science of education, 1.2 Human and social capital theories, and 1.3 Efficient and equitable education and training policies.
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Employment and Productivity Growth in Service and Manufacturing Sectors in France, Germany and the US
TL;DR: In this article, the authors present new estimates of capital's contribution to labour productivity growth, which take into account skill-biased technological change, and discuss evidence of catch-up growth in European service sectors relative to the US, and how this may affect employment growth in the presence of labour market rigidities.
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Advances in Global Business and Economics: Volume 1
TL;DR: In this paper, the authors used a survey method to analyze various opinions of 113 Islamic accounting stakeholders in Indonesia related to the need of revision of Shariah Accounting Conceptual Framework (SACF) and agreed that Maqasid Shariah as a common foundation for the formulation of a new Sharia conceptual framework.
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The mechanics of economic development
Abstract: This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing.
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Increasing Returns and Long-Run Growth
TL;DR: In this paper, the authors present a fully specified model of long-run growth in which knowledge is assumed to be an input in production that has increasing marginal productivity, which is essentially a competitive equilibrium model with endogenous technological change.
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A Contribution to the Empirics of Economic Growth
TL;DR: The authors examined whether the Solow growth model is consistent with the international variation in the standard of living, and they showed that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data.
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Finance and Growth: Schumpeter Might Be Right
TL;DR: In this paper, the authors examined a cross-section of about 80 countries for the period 1960-89 and found that various measures of financial development are strongly associated with both current and later rates of economic growth.
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Corruption and Growth
TL;DR: In this paper, a newly assembled data set consisting of subjective indices of corruption, the amount of red tape, the efficiency of the judicial system, and various categories of political stability for a cross section of countries is analyzed.