Capital Theory and the Process of Inter-Temporal Coordination: The Austrian Contribution to the Theory of Economic Growth

2014 ◽  
Vol 42 (2) ◽  
pp. 133-142 ◽  
Author(s):  
G. P. Manish ◽  
Benjamin Powell
Keyword(s):  
Economic Growth ◽  
Capital Theory ◽  
Temporal Coordination

Honesty, Trust and Economic Growth

2001 ◽  
Vol 32 (3) ◽  
pp. 189-200 ◽  
Author(s):  
Detlef Fetchenhauer ◽  
Gerben van der Vegt
Keyword(s):  
Economic Growth ◽  
Social Capital ◽  
Social Capital Theory ◽  
Capital Theory ◽  
Psychological Determinants ◽  
Country Level ◽  
Relevant Variables ◽  
Using Data ◽  
High Level ◽  
Economic Growth Rates

Summary: This article investigates cross-country differences in economic growth rates from a psychological perspective. Based on social capital theory it is argued that 1) financial honesty and trust are positively correlated with each other when they are aggregated on a country level and that 2) a high level of financial honesty and trust in a given country reduces transaction costs and thus stimulates economic growth. Using data from the World-Value-Surveys in 1981 and 1990 these hypotheses are empirically confirmed. The influence of social capital (i.e., financial honesty and trust) on economic growth was robust and substantial even if a number of relevant variables like gross national product (GNP), urbanization, economic inequality or the proportion of agriculture in gross domestic product were controlled. Thus, it seems worthwhile for economic psychology to further explore the influence of psychological determinants (like trust and honesty) on macroeconomic variables like economic growth or wealth.

Human Capital Model as a Strategy for Development of Weaving Home Industry in Sambas District of West Kalimantan

2017 ◽  
Vol 2 (3) ◽  
pp. 11-19
Author(s):  
Jamaliah Jamaliah
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Theory Development ◽  
Secondary Data ◽  
Population Data ◽  
Jel Classification ◽  
Industrial Workers ◽  
Economic Activities ◽  
Capital Theory ◽  
Human Capital Model

Objective - Goals of economic development is to increase economic growth, increase employment opportunity, equalize income distribution, and increase standard of living which will reach out community welfare. Therefore, to achieve all those goals, programs which can enhance economic activities with high intensity are needed. It will create more job opportunities and higher income, which mean poverty can be minimalized. One of the efforts to increase economic growth and public income is to develop human capital. The research is aimed to create the development of human capital model which includes training, skill, experience, and other supports particularly creativity and innovation and regarding enhancing welfare of weaving industry's workers. Methodology/Technique - This research used quantitative and qualitative methods with primary and secondary data which were taken by interviews, questionnaires, and observation. The research took place in several villages/districts in Sambas Regency, those were Jagur, Tumuk Manggis, Tanjung Mekar, Sumber Harapan, and Sajad districts. Considering that population data was not available accurately, respondents were selected based on purposive method and was adapted with the research goal. Findings - The research showed that human capital model to develop weaving industry was very likely to be done through comprehensive development by stakeholders in Sambas Regency (government and public figures), higher education institutions, and companies (business group) so that labour income could increase. Novelty - This developed model, then, is one of means that can be used to improve welfare of weaving industrial workers so that it can be new finding for human capital theory development. Type of Paper: Empirical Keywords: Human Capital, Household Weaving Industry Development, Stakeholders. JEL Classification: J01, J08, R11.

scholarly journals Contribution of secondary education towards economic growth in Ngara District, Tanzania

2022 ◽  
Vol 9 (1) ◽  
pp. 14-26
Author(s):  
Catherine Heri ◽  
Demetria G. Mkulu
Keyword(s):  
Economic Growth ◽  
Secondary Education ◽  
Secondary School ◽  
School Education ◽  
Practical Implementation ◽  
Capital Theory ◽  
Secondary School Education ◽  
The Government ◽  
Mixed Approach ◽  
The Relationship

The purpose of this study was to examine the contribution of secondary education towards economic growth in Ngara District. The study was guided by three research objectives which are; to identify the contribution of the education achieved in secondary school graduates on economic growth, to assess the relationship between secondary school education and economic growth and the last one was to analyze the challenges that face secondary education leavers in the job market. The study was guided by Human Capital Theory which was developed by Schult and Becker .The research used mixed approach technique which entails qualitative and quantitative. In qualitative, the study analyzed the findings by looking at the physical trends while quantitative, the findings were analyzed using measurements in terms of inferential statistics. From the findings, the results reveal that there is a direct connectivity between school education and practical implementation of the knowledge gained in classrooms. Moreover, the findings established that there is low contribution in education achieved in secondary-by-secondary school leavers which cannot cater for their economic income. The study recommends that the government should device friendly curriculum which is environment friendly. This will help secondary school leavers to translate their education into economic growth activities. Moreover, the secondary school leavers are advised to link what they gained in their course of schooling in order to avoid depending much on their guardians and parents.

Capital Theory and Economic Growth

1958 ◽  
Vol 68 (271) ◽  
pp. 511 ◽  
Author(s):  
Kenjiro Ara
Keyword(s):  
Economic Growth ◽  
Capital Theory

scholarly journals The Importance of Entrepreneurship Education on Economic Growth

2016 ◽  
Author(s):  
Harun Bal ◽  
Erhan İşcan ◽  
Birgül Katar
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Growth And Development ◽  
Creative Thinking ◽  
Entrepreneurship Education ◽  
Physical Capital ◽  
Industrial Society ◽  
Capital Theory ◽  
Economic Growth And Development ◽  
The Impact

Entrepreneurship is one of the prominent individual properties in transition from industrial society to artificial intelligence society. It is extremely important to raise entrepreneurs who can easily adapt to changing circumstances, in a society’s economic growth and development. An entrepreneurship has different qualities in terms of manners and attributes such as leadership, ability to see the opportunities, to pursue the innovations, to take risk, independence, diligence, creative thinking, fast problem solving. It is thought to be the economic growth depended on physical capital increase as well as labor and capital. Education is the most crucial component of human capital. In recent years, the most striking result of endogenous growth model of Romer who contributed the improvement of human capital theory is relatively the economies that have higher sum of human capital rate will have higher economic growth rate. The main aim of this study is to determine the impact of the entrepreneurship education on economic growth and development. For this aim a questionnaire is prepared to analyze the potential impact of the entrepreneurship education on economic growth and development. Results of analyze shown that the entrepreneurship education is necessary and important for entrepreneurship. Therefore, entrepreneurship education and training is sufficient for economic growth. The policy makers should spend more resources on the education that increases the human and social capital.

scholarly journals The Role of Investment in Human Capital: Evolution Between Microeconomic and Macroeconomic Approach

2018 ◽  
Vol 5 (2) ◽  
pp. 111
Author(s):  
Babacar NDIAYE
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Significant Role ◽  
Critical Analysis ◽  
Capital Investment ◽  
Human Capital Investment ◽  
Human Capital Theory ◽  
Capital Theory ◽  
Long Time

It has been acknowledged for a long time that labour factor quality plays a significant role in the process of economic growth. The human capital theory that gained prominence notably with the works of Schultz (1961) and Becker (1964) underline that the knowledge gained by people is crucial to society, for education is an investment and a tool for improving productivity. The objective of this paper is to propose, in the neoclassical vision, a critical analysis of the developments and controversies surrounding human capital investment

scholarly journals The Impact of Migration and Remittances on Employment in Agriculture in the Gambia

2020 ◽  
Vol 3 (2) ◽  
pp. 1-16
Author(s):  
Ebrima K. Ceesay
Keyword(s):  
Economic Growth ◽  
Foreign Aid ◽  
Regression Models ◽  
African Country ◽  
Positive Impact ◽  
The Gambia ◽  
Linear Regression Models ◽  
Capital Theory ◽  
The Impact ◽  
Unskilled Employment

For economic growth and development in any WE African country the GDP progress is depending on the key push-pull factors as migration, personal remittances received, bilateral aids and, absolutely, employment in agriculture which is about 1/3 of the population and not a predominant and protected minority as happens in the industrialized EU and North America. In order to represent the framework of the reciprocal dependencies the present study used the statistics of Gambia from WDI covering the periods from 1960 to 2017 by applying linear regression models. The results confirmed that migration and remittances have significant positive impact on employment in agriculture because new investment in agriculture created new skilled and unskilled employment. The results also found out that employment in agriculture has negative and significant impacts on foreign aids: 10% increase in migration, increases foreign aid by 50.3%. Increasing 10% of remittance, increase economic growth by 0.14% but 10% increases in employment in agriculture, decrease economic growth by 0.04%. To face globalization the economy of the Gambia should use the foreign aid to improve agriculture production and productivity thereby increase economic growth through human capital theory of migration, skilled migration, export and food security, the study recommends.

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