Financial development and economic growth: Some …
There were many ups and downs; economic and urban growth along with social and political improvements happened.
Promoting sustainable economic growth in South …
So how to interpret this? The interpretation that the paper offers is based on the concept of consensually strong states. Precisely because politicians and political elites are weak, citizens are happy giving them a “long leash” in the economy, consenting to high taxes, regulation and involvement by the state, with the expectation that the politicians in power and the bureaucrats will use this capacity mostly for things that the citizens like. And what if they don’t? This is where the political weakness of the state is key. Because of this weakness, citizens know that they can easily kick out the current crop of politicians, thus making it incentive compatible for them to use the huge resources they control for the benefits of the citizens, for example for public good provision and control of monopoly, rather than for their own or their cronies’ benefits.
It is important not to confuse opposition against thelatter kind of planning with a dogmatic laissez faireattitude. The liberal argument does not advocate leavingthings just as they are; it favors making the best possibleuse of the forces of competition as a means ofcoordinating human efforts. It is based on the convictionthat, where effective competition can be created, it is abetter way of guiding individual efforts than any other. Itemphasizes that in order to make competition workbeneficially a carefully thought-out legal framework isrequired, and that neither the past nor the existing legalrules are free from grave defects. Liberalism is opposed,however, to supplanting competition by inferior methods ofguiding economic activity. And it regards competition assuperior not only because in most circumstances it is themost efficient method known but because it is the onlymethod which does not require the coercive or arbitraryintervention of authority. It dispenses with the need for"conscious social control" and gives individuals a chanceto decide whether the prospects of a particular occupationare sufficient to compensate for the disadvantagesconnected with it. The successful use of competition doesnot preclude some types of government interference. Forinstance, to limit working hours, to require certainsanitary arrangements, to provide an extensive system ofsocial services is fully compatible with the preservationof competition. There are, too, certain fields where thesystem of competition is impracticable. For example, theharmful effects of deforestation or of the smoke offactories cannot be confined to the owner of the propertyin question. But the fact that we have to resort to directregulation by authority where the conditions for the properworking of competition cannot be created does not provethat we should suppress competition where it can be made tofunction. To create conditions in which competition will beas effective as possible, to prevent fraud and deception,to break up monopolies— these tasks provide a wide andunquestioned field for state activity. This does not meanthat it is possible to find some "middle way" betweencompetition and central direction, though nothing seems atfirst more plausible, or is more likely to appeal toreasonable people. Mere common sense proves a treacherousguide in this field. Although competition can bear someadmixture of regulation, it cannot be combined withplanning to any extent we like without ceasing to operateas an effective guide to production. Both competition andcentral direction become poor and inefficient tools if theyare incomplete, and a mixture of the two - means thatneither will work. Planning and competition can becombined only by planning for competition, not by planningagainst competition. The planning against which all ourcriticism is directed is solely the planning againstcompetition.
Artificial Intelligence and Economic Growth ..
In the last two posts, and , we have argued that neither the classic Hobbesian line of the benefits of a Leviathan nor James Scott’s perspective of disadvantaged groups always fleeing the authority of the state are fully satisfactory. Instead, it appears that though the state is often an instrument of repression and extraction in the hands of economic or political elites, there are at times important benefits from state centralization (as we have also argued in Why Nations Fail), and the state can even be a useful instrument for the disadvantaged in their struggles against the local elites.
US dollars), unemployment rates, human capital development index, literacy rate, population growth, index of economic freedom, level of investment, savings rate, inflation rates, etc.
Prepare a report that is designed to evaluate how the differences in the economic growth in both countries can be reconciled with your knowledge of theories of economic growth.
Journal of Economic Growth, July 1997, Vol
Many opinions as to the role of economic growth have been offered, with most leading to a polarisation of views.A divergence arises because different assumptions are made about human ingenuity in the face of concrete constraints, and because conceptions of the growth process are poles apart.
Whether the global economic system can continue to grow without under mining the environmental system that is its ultimate foundation, and of which it is a part, is known as the sustainability question.
Phd Thesis On Financial Development And Economic Growth
phd thesis on financial development and economic growth..
This is a substantially revised version of a previous paper, "TheUpcoming Slowdown in U.S. Economic Growth."
Determinants of Economic Growth in Malaysia 1970 …
(2012)Determinants of Economic Growth in Malaysia 1970-2010. Masters thesis, Universiti Utara Malaysia.
on capital movements and their effect of economic growth ..
By Jesse Colombo All great bubbles start out as legitimate and compelling economic growth booms
A Survey Paper: Topics in Economic Growth and …
Though this economic expansion has been the longest since World War II (according to the New York Times, October 18, 1998), growth during the 1990’s has been weaker than during any growth cycle since the end of the war.
Essay, Research Paper: Economic Growth US
“Economic growth determines a countries future, and economic growth in the past determines a countries present as far as it’s material values are concerned.” (Buechner Recording) So every material value of the modern world is a result economic growth in the past, or your standard of living is the result of economic growth in the past....
Free Papers and Essays on Economic Growth US
Economic growth of a country can be seen in term of increase or growth of Gross Domestic Product (GDP). The rapid economic growth will result in per capita income growth and changes in national economic sectors. Thus economic growth is an important indicator in measuring economic development. The objective of this study is to examine the determinants of economic growth in Malaysia. This study uses trade openness, foreign direct investment, government development expenditure and gross fixed capital formation as an independent variables. The empirical analysis is based on time series data for 40 years for period 1970 to 2010. The model that used to tested the long run relationship is by using Johansen and Juselius cointegration approach shows that trade openness, foreign direct investment, government development expenditure and gross fixed capital formation are the determinants of economic growth in a long run. On the other hand, results that based on Vector Error Correction Model (VECM) shows that trade openness and foreign direct investment are the significant determinants of economic growth in a short runbut bring negative impact to economic growth. Furthermore, an ECM variable is negative and significant, that postulates the cointegration among given variables. Theresponse coefficient value is -0.343895, that suggesting moderate adjustment behavior, approx 34.4% percent of the disequilibria of the previous period’s shock adjust back to the long run equilibrium in the current year. Based on causality test in this study found that, firstly OPEN variable is Granger cause to GDP variable. Secondly is GDP variable is Granger cause to GDE variable. Thirdly is GDPvariable is Granger cause to GFCF variable. Fourthly is OPEN variable is Granger cause to FDI, GDE and GFCF variables. Based on the Ordinary Least Squares (OLS)regression in this study shows that trade openness, government development expenditure and gross fixed capital formation fixed at 1 per cent significance level. This indicates that these variables have a positive effect on economic growth in Malaysia. While foreign direct investment variable is not significant to the growth ofMalaysian economy. Results also shows that government development expenditure is the highest variables affect Malaysia economic growth of 1% increase in development expenses will lead to the growth rate increase by 2.16%. Second highest variable is trade openness of a 1% increase in trade openness will lead to 1.28% increase in the growth of the Malaysian economy. Third highest variable is gross fixed capital formation of a 1% increase in gross fixed capital formation will lead 0.98% increase in economic growth in Malaysia. Results obtained in this study suggest that policymakers should keep an eye on all of the significant variables since it will give impact on economic growth.
Is economic growth 'good' for the environment?
The economy has been growing at a rate of about 4.5 percent each year, due to this.
However, the increase in the workforce , or hours worked, limits labor growth.
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