The Case of the Impoverished Sophisticate: Human Capital and Swedish Economic Growth before World War I

1979 ◽  
Vol 39 (1) ◽  
pp. 225-241 ◽  
Author(s):  
Lars G. Sandberg
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
World War I ◽  
Low Income ◽  
Capital Stock ◽  
Income Level ◽  
Growth Spurt ◽  
World War ◽  
Rapid Accumulation ◽  
Short Run

Around 1850 Sweden had a stock of human capital wildly disproportionate to its very low income level. This situation contributed significantly to the speed of the growth spurt that occurred between that time and World War I. In the short run, this large human capital stock allowed Sweden to take fuller advantage of the new opportunities for exports which appeared around 1860. In the longer run Sweden benefited because it is easier to achieve a rapid accumulation of physical than of human capital. The disproportionate early accumulation of human capital is explained in terms of religious, political, and military events of the previous three centuries.

scholarly journals Long-Run and Short-Run Relationships Between Education and Economic Growth: The Malaysian Experience

2013 ◽  
Author(s):  
Ishak Yussof ◽  
Atif Awad Abdillah ◽  
Zulkifly Osman
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Stock ◽  
Capital Accumulation ◽  
Human Capital Accumulation ◽  
Causality Test ◽  
Long Run ◽  
Integration Test ◽  
Short Run ◽  
Education And Economic Growth

This paper investigates the long and short-run relationships between human capital, measured in terms of average years of schooling for people aged 15 years and older, and economic growth in Malaysia between 1970 and 2009. The data was collected from various sources, including the World Bank database, the International Labour Organization (ILO) and scholarly texts. The Auto Regressive Distributed Lag (ARDL) test was utilized to examine the relationships between education and economic growth. The results of the co-integration test revealed that economic growth was absolutely exogenous and the remaining variables were endogenous in Malaysia. This fi nding suggests that the status of these variables depend on the level of economic growth, while the opposite is not true. The most interesting results were that the long-run forcing variables for human capital accumulation were capital stock, employment and economic growth. However, the causality test revealed that economic growth, employment and capital stock, not only aff ects human capital in the short-run, but in the long run as well. The causality tests performed detected two-way relationships between human capital and capital stock, and employment separately in the long run. Although economic growth is exogenous, Malaysia should still continue to invest in its human capital accumulation since it could att ract more investments and subsequently create employment opportunities within the economy.   Keywords: Education levels, education development, income, economic growth.

Banking and Economic Growth in Sweden before World War I

1978 ◽  
Vol 38 (3) ◽  
pp. 650-680 ◽  
Author(s):  
Lars G. Sandberg
Keyword(s):  
Economic Growth ◽  
World War I ◽  
International Comparisons ◽  
Banking System ◽  
Commercial Banking ◽  
World War ◽  
Paper Money ◽  
History Of

The article sketches the history of Swedish commercial banking from 1656 until World War I, with special attention to the post-1850 period. Emphasis is placed on the relationships between economic growth and banking. International comparisons based on the quantitative measures developed by Rondo Cameron and Raymond Goldsmith are made. It is concluded that at all stages of its early industrialization Sweden had a remarkably large and efficient banking system. This, in turn, was largely the result of the general population's long experience with banking and paper money and their generally high levels of literacy and education.

scholarly journals The Effects of Human Capital by Gender on Economic Growth

2021 ◽  
Vol 12 (1) ◽  
pp. 113
Author(s):  
Mohd Shahidan Shaari ◽  
Razinda Tasnim Abdul Rahim ◽  
Nor Hidayah Harun ◽  
Faiz Masnan
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Labour Force ◽  
Labour Force Participation ◽  
Participation Rates ◽  
Long Run ◽  
Job Opportunities ◽  
Short Run ◽  
The Government ◽  
Male Labour

The issue of human capital by gender has been sparsely discussed in previous literature especially male labour force. The contribution of both genders to economic growth has intensified every year. Therefore, this study aims to investigate the effects of human capital by gender on economic growth in Malaysia. Data ranging from 1982 to 2018 were analysed by using the ARDL approach. The results show that higher male labour force participation rates can boost economic growth in the short run and long run in Malaysia. Higher female labour force participation rates, on the other hand, can reduce economic growth in the short run and long run in Malaysia. Therefore, the government should encourage more male labour to participate in the labour market by giving incentives. More job opportunities should be created for both genders.

scholarly journals Sources of Economic Growth in Zambia: An Empirical Investigation

2017 ◽  
Vol 18 (2) ◽  
pp. 275-290 ◽  
Author(s):  
Themba G. Chirwa ◽  
Nicholas M. Odhiambo
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
International Trade ◽  
Foreign Aid ◽  
Development Aid ◽  
Human Capital Development ◽  
Long Run ◽  
Short Run ◽  
Capital Development ◽  
Macroeconomic Determinants

In this article, the key macroeconomic determinants of economic growth in Zambia are investigated using the autoregressive distributed lag (ARDL) bounds testing approach. The study has been motivated by the unsustainable growth trends that Zambia has been experiencing in recent years. Our study finds that the key macroeconomic determinants that are significantly associated with economic growth in Zambia include, amongst others, investment, human capital development, government consumption, international trade and foreign aid. The study’s results reveal that in the short run, investment and human capital development are positively associated with economic growth, while government consumption, international trade and foreign aid are negatively associated with economic growth. However, in the long run, the study finds investment and human capital development to be positively associated with economic growth, while only foreign aid is negatively associated with economic growth. These results have significant policy implications. They imply that short–run economic policies should focus on creating incentives that attract investment and increase the quality of education, the effectiveness of government institutions, the promotion of international trade reforms and the effectiveness of development aid. In the long run, development strategies should focus on attracting the accumulation of long-term investment, improving the quality of education and the effectiveness of development aid.

Factors in Economic Growth in Canada

1955 ◽  
Vol 15 (1) ◽  
pp. 13-22 ◽  
Author(s):  
Penelope Hartland
Keyword(s):  
Economic Growth ◽  
World War I ◽  
Rapid Growth ◽  
World War ◽  
Economic Progress ◽  
History Of

Within the sweep of Canada's economic progress, I should liketo devote special attention to one period—from about 1900 to the outbreak of World War I—as die period of most rapid growth in the history of Canada since die union of the separate provinces under Confederation in 1867, with die possible exception of die war-stimulated 1940's. I propose to point out certain parallels between that remarkable expansionary period and a much earlier one. I shall also attempt to isolate die important factors responsible for the upsurge of growdi after 1900.

scholarly journals TRADE OPENNESS AND ECONOMIC GROWTH: EMPIRICAL EVIDENCE FROM INDIA

2014 ◽  
Vol 16 (1) ◽  
pp. 188-205 ◽  
Author(s):  
Qazi Muhammad Adnan Hye ◽  
Wee-Yeap Lau
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Granger Causality ◽  
Trade Openness ◽  
Granger Causality Test ◽  
Causality Test ◽  
Long Run ◽  
Rolling Window ◽  
Short Run ◽  
The Impact

The main objective of this study is to develop first time trade openness index and use this index to examine the link between trade openness and economic growth in case of India. This study employs a new endogenous growth model for theoretical support, auto-regressive distributive lag model and rolling window regression method in order to determine long run and short run association between trade openness and economic growth. Further granger causality test is used to determine the long run and short run causal direction. The results reveal that human capital and physical capital are positively related to economic growth in the long run. On the other hand, trade openness index negatively impacts on economic growth in the long run. The new evidence is provided by the rolling window regression results i.e. the impact of trade openness index on economic growth is not stable throughout the sample. In the short run trade openness index is positively related to economic growth. The result of granger causality test confirms the validity of trade openness-led growth and human capital-led growth hypothesis in the short run and long run.

Zahlenfähigkeit und Zahlendisziplin in Nord- und Westdeutschland, 16.-18. Jahrhundert

2008 ◽  
Vol 49 (2) ◽  
Author(s):  
Jörg Baten ◽  
Dorothee Crayen ◽  
Kerstin Manzel
Keyword(s):  
Human Capital ◽  
World War I ◽  
Early Modern ◽  
Census Data ◽  
Insurance Industry ◽  
Early Modern Period ◽  
Population Census ◽  
World War ◽  
Modern Period ◽  
Western Germany

AbstractBefore World War I the modern insurance industry had spread out across the globe from This article introduces a new methodology to approximate education in terms of numerical abilities and numerical discipline based on age-misreporting in population statistics. We review why age heaping is a helpful indicator for education and describe potential problems in applying this strategy.The study presents human capital estimates for the early modern period in a number of places in Northern and Western Germany. Based on individual population census data for Schleswig-Holstein, we show time trends and regional disparities in the evolution of human capital. Our preliminary results indicate that urbanization, Protestantism and protein proximity may have led to stronger numeracy.

scholarly journals Evidence on the Nexus Between Electricity Consumption and Economic Growth through Empirical Investigation of Uganda

2015 ◽  
Vol 8 (1) ◽  
pp. 149-165
Author(s):  
Lira Sekantsiand ◽  
Mamofokeng Motlokoa
Keyword(s):  
Economic Growth ◽  
Granger Causality ◽  
Capital Stock ◽  
Capital Accumulation ◽  
Electricity Consumption ◽  
The Body ◽  
Electricity Sector ◽  
Short Term ◽  
Short Run

AbstractThis paper empirically examines the electricity consumption - economic growth nexus in Uganda for the period 1982 to 2013, with a view to contributing to the body of literature on this topic and informing energy policy design in Uganda. Using capital stock as an intermittent variable in the causality framework, the paper employs Johansen-Juselius (1988, 1995) multivariate cointegration and VECM based Granger causality tests and finds a bidirectional causality between electricity consumption and economic growth in the long-term and distinct causal flow from economic growth to electricity consumption in the short-run, and short-term and long-term Granger causality from capital stock to economic growth, with short-run feedback in the opposite direction. Therefore, it implies that firstly, the Government of Uganda (GoU) can implement conservation policies only through reducing energy intensity and promoting efficient energy use to avoid decline in output and secondly, that the GoU should intensify its efforts towards capital accumulation in order to realize sustainable economic growth. Lastly, the empirical evidence that electricity consumption influences some short-term capital accumulation supports the GoU’s efforts to allow private sector investment in the electricity sector in an effort to increase electricity supply.

scholarly journals Quantifying the Relationship Between GDP Per Capita and Inequality in the Balkan Region

2021 ◽  
Vol 14 (2) ◽  
pp. 7-13
Author(s):  
Edgar J. Saucedo-Acosta ◽  
Keyword(s):  
Economic Growth ◽  
Low Income ◽  
Capital Stock ◽  
Financial Inclusion ◽  
Gdp Per Capita ◽  
Balkan Countries ◽  
Balkan Region ◽  
Per Capita ◽  
Low Levels ◽  
The Relationship

Purpose:The paper aims to estimate the effect of inequality on the economic growth of Balkan countries for the period 2001-2017. In addition, the effect of capital stock on GDP per capita (GDPpc) for the Balkan countries was estimated. The low level of financial inclusion on the Balkan region produces an underinvestment of human capital and affects the low-income households, leading to an increase in inequality. Low levels of equality and capital stock negatively impact economic growth.

Sign in / Sign up

Export Citation Format

Share Document