Uneven World Development

1995 ◽  
Vol 55 (3) ◽  
pp. 679-682
Author(s):  
E. L. Jones
Keyword(s):  
Economic Growth ◽  
Significant Part ◽  
Holy Grail ◽  
Sustained Growth ◽  
World Development ◽  
Power Diffusion

Every so often a maverick knight sets off into the dark forest looking for the Holy Grail of “why isn’t the whole world developed?” In this book, which has the heavy bibliographical armor of the genre and 40 pages of appendices too, John Powelson reports on his quest. He claims to have found in a concept called “power diffusion” a significant part of the answer to two related questions: why did the modem economy first appear in northwestern Europe and Japan, and what characteristics of those regions account for their ability to sustain economic growth? Growth is to him the serendipitous outcome of seemingly unconnected events, and he defines sustained growth as that which lasts a century or more.

scholarly journals How do Poverty and Income Inequality affect Economic Growth in Developing Countries?

2021 ◽  
Vol 4 (2) ◽  
pp. 547-558
Author(s):  
Hamza Saleem ◽  
Fatima Farooq ◽  
Muhammad Aurmaghan
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Panel Data ◽  
Income Inequality ◽  
Negative Impact ◽  
Positive Impact ◽  
Development Indicators ◽  
The Relationship ◽  
Positive Effect ◽  
World Development

The major objective of this research is to examine the relationship between poverty, income inequality and economic growth from some selected developing countries. This study uses panel data for the period of 2002-2015. All the data is taken from world development indicators (WDI). To find out the results, we have used Hausman test an econometrics technique for panel data in this research. The results of the study indicate that poverty and income inequality have a negative impact on economic growth on the other hand Gross capital formation, labor force, total population and government consumption and expenditure have a positive impact on economic growth. The result tells us that changes in these variables have a significant and positive effect on the dependent variable. To achieve the goal of economic growth developing countries should reduce poverty and take meaningful steps to overcome the problem of inequality in the society which can be very helpful in achieving the goal of economic growth.

scholarly journals Pakistan’s Productivity Performance and TFP Trends, 1980–2015: Cause for Real Concern

2016 ◽  
Vol 21 (Special Edition) ◽  
pp. 33-63 ◽  
Author(s):  
Rashid Amjad ◽  
Namra Awais
Keyword(s):  
Economic Growth ◽  
East Asia ◽  
Total Factor Productivity ◽  
Labor Productivity ◽  
Productivity Growth ◽  
Output Growth ◽  
Factor Productivity ◽  
Sustained Growth ◽  
Growth Prospects ◽  
High Output

This paper reviews Pakistan’s productivity performance over the last 35 years (1980–2015) and identifies factors that help explain the declining trend in labor productivity and total factor productivity (TFP), both of which could have served as major drivers of productivity growth – as happened in East Asia and more recently in India. A key finding is that the maximum TFP gains and their contribution to economic growth are realized during periods of high-output growth. The lack of sustained growth and low and declining levels of investment appear to be the most important causes of the low contribution of TFP to productivity growth, which has now reached levels that should be of major concern to policymakers vis-à-vis Pakistan’s growth prospects.

scholarly journals INTERACTION BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH IN INDIA

2017 ◽  
Vol 5 (4) ◽  
pp. 62-71 ◽  
Author(s):  
Nandakumar ◽  
Devasia ◽  
Thomachan
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
World Bank ◽  
Energy Use ◽  
Annual Data ◽  
Sample Period ◽  
Development Indicators ◽  
Long Run ◽  
World Development

This Paper examines the relation between energy use and GDP percapita of India. It used the annual data from 1971-2013, obtained from World Development Indicators of World Bank for India. The variables used in this study are – Percapita GDP and Energy consumption in Kilograms of oil equivalent (Kgoe). The result shows long run relation between energy use and GDP percapita. The result also shows that Energy Use granger causes GDP percapita of India for the sample period.

scholarly journals Economic growth related to mutually interdependent institutions and technology

2009 ◽  
Vol 5 (3) ◽  
pp. 259-288 ◽  
Author(s):  
RICHARD G. LIPSEY
Keyword(s):  
Economic Growth ◽  
Industrial Revolution ◽  
Technological Advance ◽  
Necessary Condition ◽  
Single Institution ◽  
The West ◽  
Steam Power ◽  
Sustained Growth ◽  
Medieval Universities ◽  
Industrial Revolutions

Abstract:This paper argues that technological advance is a necessary condition for sustained economic growth. Technologies and institutions co-evolve in a system of mutual causation. Although some institutions inhibit growth while others encourage it, no single institution is either necessary or sufficient to produce sustained growth. However, some non-unique bundle of encouraging institutions is necessary. Sustained growth began with the Industrial Revolutions that did not just ‘fall out of the blue’ but were instead the culmination of three trajectories of technological advance in steam power, electric power, and the mechanization of textile manufacturing. These stretched over several centuries. Growth then became sustained when the West ‘invented how to invent’. A necessary condition for the Industrial Revolutions was Western science whose roots lie as far back as the scholastic philosophers and the medieval universities. Its absence elsewhere is a sufficient reason why no other place developed its own indigenous industrial revolution.

Co-integration Between Globalisation and Economic Growth

2017 ◽  
Vol 2 (2) ◽  
Author(s):  
Cândida Ferreira
Keyword(s):  
Economic Growth ◽  
Developed Countries ◽  
The Real ◽  
The World Bank ◽  
Time Period ◽  
The World ◽  
Economic Institute ◽  
Almost All ◽  
World Development ◽  
Economic Globalisation

<span class="fontstyle0">This paper analyses the co-integration relationship between globalisation and economic<br />growth of 27 more or less developed countries across almost all Continents for the time period<br />1970–2013. Globalisation is </span><span class="fontstyle2">proxied </span><span class="fontstyle0">by the overall globalisation index and the sub-indices<br />representing economic globalisation, social globalisation and political globalisation, all<br />provided by the Swiss Economic Institute. Economic growth is measured through the natural<br />logarithm of the real Gross Domestic Product, sourced from the World Development<br />Indicators which are provided by the World Bank. Co-integration is tested with quantile cointegration regressions. The results obtained clearly confirm the existence of non-linear cointegration relationships between the considered globalisation indices and the real economic<br />growth.</span>

scholarly journals Infrastructural Development, Agricultural Output and Employment in ECOWAS Countries

2019 ◽  
Author(s):  
Richardson Edeme ◽  
Janefrancis Idenyi
Keyword(s):  
Economic Growth ◽  
Agricultural Sector ◽  
Agricultural Land ◽  
Infrastructure Development ◽  
Agricultural Output ◽  
Development Indicators ◽  
Infrastructural Development ◽  
World Development ◽  
Land Economic ◽  
Electricity Transport

Data from 15 ECOWAS countries from 2000-2017 were generated from World Development Indicators and Africa Infrastructure Development Index. Variables of concern are agricultural output, agricultural sector employment, access to electricity, transport, ICT, agricultural land, economic growth and FDI.

scholarly journals The Effects of Green Financial Development on Economic Growth in Pakistan

2021 ◽  
Vol 3 (3) ◽  
Author(s):  
Muhammad Atif Nawaz ◽  
Muhammad Sajjad Hussain ◽  
Altaf Hussain
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Foreign Direct Investment ◽  
Financial Development ◽  
Direct Investment ◽  
Positive Impact ◽  
Development Indicators ◽  
Green Finance ◽  
Green Investment ◽  
World Development

Sustainable development is now a mantra for which every country is striving for it and green finance, and green financial development which is advancement in financial activities harmonized with environmental protection and ecological balance, is considered as the foremost solution for it. Keeping in view the importance of green financial development for the economic growth, this study aims to examine the effects of green financial development such as green credit, green securities, green insurance, green investment, and foreign direct investment on the economic growth of Pakistan. The time series has extracted from World Development Indicators (WDI) and State Bank of Pakistan (SBP) for the period 1981 to 2019. For the analysis purpose, Autoregressive distributive lag (ARDL) and Granger casualty have been executed. The findings established empirically that green financial development such as green credit, green securities, green insurance, green investment, and foreign direct investment have a positive impact on the economic growth of Pakistan. These findings provide the insight to the regulators that they should enhance their focus towards green financial development that is imperative for the economic growth of the country.

scholarly journals Investment and Growth Amidst Widening Government Debt: “The Ghanaian Story”

2019 ◽  
Vol 11 (1) ◽  
pp. 259
Author(s):  
John Kwaku Mensah Mawutor ◽  
Eric Boachie Yiadom ◽  
Richard Fosu Amankwa
Keyword(s):  
Economic Growth ◽  
Public Debt ◽  
Inverse Relationship ◽  
Government Debt ◽  
Debt Management ◽  
Percentage Increase ◽  
Development Indicators ◽  
Unique Effect ◽  
Public Debt Management ◽  
World Development

The study revisits the debt-growth nexus and broadens the argument to examine the unique effect of government debt on investment in Ghana. Data from World Development Indicators on the Ghanaian economy were sampled from 1990 to 2015. The empirical results from the Multiple Linear Regression (MLR) suggest an inverse relationship between government debt and economic growth in Ghana. In addition, a percentage increase in government debt reduces investment by 0.65%; implying that government debt harms investment due to fungibility of debt and accompanying debt repayment responsibilities. Policy ramifications resulting from the study are that the Ghanaian government should restructure public debt management to eliminate debt fungibility and reduce debt to GDP ratio as well.

Green national accounting: the case of Chile's mining sector

2002 ◽  
Vol 7 (2) ◽  
pp. 215-239 ◽  
Author(s):  
Eugenio Figueroa ◽  
Enrique Calfucura ◽  
Javier Nuñez
Keyword(s):  
Economic Growth ◽  
Empirical Evidence ◽  
Natural Capital ◽  
Significant Part ◽  
National Accounts ◽  
Mining Sector ◽  
Empirical Results ◽  
Income Measure ◽  
The One ◽  
Economic Income

This article uses the welfare foundations for the usual net domestic product (NDP) income measure of the traditional National Accounts System (NAS) provided by Weitzman (1976, 2000), and the propositions of Hartwick (1993) and Hamilton (1994a) to correct this measure in order to obtain a green (sustainable) measure of economic income. It estimates green measures of the economic income of Chile's mining sector for the period 1977–1996. Different methodologies regarding the valuation of mining resources are employed, and exploration expenditures in the mining sector are included to empirically estimate the green measures of income. The results clearly show that the usual income measures of the traditional NAS overestimated the economic income generated by the Chilean mining sector during the period by 20–40 per cent, and its rate of growth by 3–20 per cent. Moreover, this overestimation has increased in recent years. These empirical results are remarkably similar when different methodologies are used to calculate green measures of the mining sector's economic income. The empirical evidence produced in this work, together with the one provided by other studies, leads to the conclusion that Chile's outstanding recent economic growth has not delivered the amount of economic income recorded by its NAS, since a significant part of it corresponded to depreciation of the country's natural capital.

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