Closing The UK Competitiveness Gap

1995 ◽  
Vol 154 ◽  
pp. 71-84 ◽  
Author(s):  
Walter Eltis ◽  
David Higham
Keyword(s):  
Economic Growth ◽  
Small Firms ◽  
Living Standards ◽  
Growth Theory ◽  
National Competitiveness ◽  
Industrial Productivity ◽  
New Growth Theory ◽  
The Uk ◽  
Productivity And Competitiveness

This paper is developed from the presentation given by Walter Eltis at the National Institute's seminar ‘Industrial Productivity and Competitiveness' held in London on 23 May 1995. It sets out the approach underlying the UK Government's 1994 and 1995 White Papers on competitiveness and begins by reviewing the debate on the meaning of national competitiveness. The White Papers define competitiveness as the ability to raise living standards and argue that, contrary to the views of some leading economists, competitiveness is a useful guide to policy because of the emphasis on national benchmarking. It then explains that the analytical basis of the Government's approach—which identifies ten key influences on competitiveness—lies in the theoretical and empirical analysis of economic growth (including ‘new’ growth theory) and on detailed studies of the sources of productivity differences across countries. Finally, it considers the role of privatisation, inward investment, the growth of small firms and labour market policies in improving UK performance. The paper concludes that, although three quarters of the productivity gap with French and Germany industry appears to have been closed since 1979, productivity in both manufacturing and services still lags behind those in the leading West European countries.

PERANAN ILMU PENGETAHUAN DAN INVESTASI SUMBER DAYA MANUSIA DALAM MEMACU PERTUMBUHAN EKONOMI

2017 ◽  
Vol 2 (1) ◽  
Author(s):  
Soegeng Wahyoedi
Keyword(s):  
Economic Growth ◽  
Research And Development ◽  
Growth Theory ◽  
Supply Side ◽  
Asian Countries ◽  
Classic Theory ◽  
The World ◽  
World Economic ◽  
New Growth Theory

<p>Entering the year of 1990s, the world economic growth was marked by the economic growth of Eastern Asian Countries reaching 7 percent per year on the average. Despite the economic crisis at the end of 1990s, these countries managed to grow. In reference the Classic Theory, the growth factors included supply side (production) whereas the Neo Classic Theory as its the follower introduced the role of human capital as the trigger of the economic growth i.e. New Growth Theory. Furthermore, several Neo Classic followers added that research and development were also the trigger of the economic growth.</p><p>Kata Kunci: Pertumbuhan ekonomi, research and development, investasi sumber daya manusia.</p>

Generating Prosperity for Working Families in Affluent Countries

2018 ◽  
Keyword(s):  
Economic Growth ◽  
Real Income ◽  
Living Standards ◽  
Financial Strain ◽  
Inclusive Growth ◽  
Working Families ◽  
The Rich ◽  
Rich Countries ◽  
Analysis Of Performance

This book addresses the central challenge facing rich countries: how to ensure that ordinary working families see their living standards and the prospects for their children improve rather than stagnate over time. It presents the findings from a comprehensive analysis of performance over recent decades across the rich countries of the OECD, in terms of real income growth around and below the middle. It relates this performance to overall economic growth, exploring why these often diverge substantially, and to the different models of capitalism or economic growth embedded in different countries. In-depth comparative and UK-focused analyses also focus on wages and the labour market and on the role of redistribution. Going beyond income, other indicators and aspects of living standards are also incorporated including non-monetary indicators of deprivation and financial strain, wealth and its distribution, and intergenerational mobility. By looking across this broad canvas, the book teases out how ordinary households have fared in recent decades in these critically important respects, and how that should inform the quest for inclusive growth and prosperity.

The Role of Entrepreneurial Performance in Supporting Economic Development of Countries: An Empirical Approach

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Valentina Diana Rusu ◽  
Angela Roman
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Social Progress ◽  
Entrepreneurial Performance ◽  
Panel Data Estimation ◽  
Positive Effects ◽  
National Competitiveness ◽  
Key Factor ◽  
Future Economic Development

Abstract Entrepreneurship is recognized as one of the factors stimulating economic growth and increasing economic competitiveness. In addition, the Europe 2020 Strategy has focused its attention on entrepreneurship as a key factor of economic growth, social progress, and employment. In this context, our study examines the role of entrepreneurial performance for sustaining the development of countries, focusing on a sample of European countries. We attempt to reveal if increasing entrepreneurial performance would have significant influence on improving the economic position of countries and their future economic development. Starting from the OECD-Eurostat Entrepreneurship Indicators Programme we use a set of entrepreneurial performance indicators as independent variables and examine to what extent they can influence competitiveness and economic growth, seen as dependent variables of the models. We focus on a period of 10 years (2008–2017) and we apply panel-data estimation techniques. Because the period considered includes the period of the last international financial crisis, we also include in our analysis a dummy variable. Our results emphasize that the changes in entrepreneurial performance play a significant role in enhancing national competitiveness and economic growth. Our findings contribute to the expansion of literature in the field by providing evidence on the correlation of indicators that measure entrepreneurial performance with national competitiveness and economic growth. Moreover, our findings point out the need of the policy makers to adopt measures and policies that help and stimulate entrepreneurs to become more performant because they can generate positive effects to the economy as a whole.

Toward a dynamic capability theory of economic growth

2019 ◽  
Vol 29 (4) ◽  
pp. 1047-1065 ◽  
Author(s):  
David Sainsbury
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Value Added ◽  
The United States ◽  
Dynamic Capability ◽  
Alexander Hamilton ◽  
Role Of Government ◽  
Windows Of Opportunity ◽  
The Uk

Abstract New theories of economic growth that are policy-relevant and connect with the histories of success and failure in economic development are urgently needed. This article compares the neoclassical (or market efficiency) school of thought with the production-capability school of thought which included Alexander Hamilton, Friedrich List, and Joseph Schumpeter. Many affirmative, industrial policy steps by governments to promote economic development have been historically recorded—including in the UK and the United States. Meanwhile the neoclassical school has ignored the role of government in helping to create competitive advantage. It has also chosen to ignore how firms are formed, how technologies are acquired, and how industries emerge. The dynamic capability theory of economic growth developed here assigns the central role in economic growth to firms but also an important role to governments. The rate at which a country’s economy grows depends critically on whether its firms can build the capabilities to generate and take advantage of “windows of opportunity” that exist for innovation and new markets, and whether over time they are able to enhance their capabilities to move into higher value-added activities.1

Recession and Economic Revival in Britain: The Role of Policy in the 1930s and 1980s

1999 ◽  
Vol 8 (1) ◽  
pp. 1-27 ◽  
Author(s):  
Michael Kitson
Keyword(s):  
Economic Growth ◽  
Economic Performance ◽  
Free Market ◽  
Growth Potential ◽  
Demand Side ◽  
Alternative Perspective ◽  
Long Run ◽  
The Uk ◽  
Market Economics

During the 1980s economic policy in the UK increasingly embraced free-market economics. For many, this was a necessary shift which improved economic performance, whereas previous periods of increased intervention, such as the 1930s, had harmed the UK economy. This article takes an alternative perspective. It argues that economic revival in the 1930s was primarily policy-induced; whereas economic growth in the 1980s can be largely explained by the unintentional demand side-effects of policy, with many of the free-market policies having, at best, a neutral impact and, in some cases, harming the long-run growth potential of the economy.

scholarly journals MENANAMKAN NILAI-NILAI ENTREPRENEURSHIP MELALUI PENDIDIKAN EKONOMI PADA ERA MASYARAKAT EKONOMI ASEAN

2015 ◽  
Vol 11 (1) ◽  
pp. 16
Author(s):  
Waspodo Tjipto Subroto
Keyword(s):  
Economic Growth ◽  
Young People ◽  
Dominant Role ◽  
Economic Education ◽  
Living Standards ◽  
Economic Community ◽  
Economic Activities ◽  
Entrepreneurial Spirit ◽  
Asean Economic Community

Abstrak: Menanamkan Nilai-Nilai Entrepreneurship Melalui Pendidikan Ekonomi pada Era Masyarakat Ekonomi ASEAN. Entrepreneurship memegang peranan yang dominan dalam menggerakkan roda perekonomian baik dalam skala lokal, regional maupun global. Para entrepreneur yang dinamis dan berkomitmen untuk sukses, terbukti mempengaruhi pertumbuhan ekonomi dan kesejahteraan. Entrepreneur yang memiliki semangat kepemimpinan dan jiwa entrepreneur ini akan memimpin revolusi ekonomi menuju peningkatan standar hidup yang lebih layak. Di tengah-tengah liberalisasi Masyarakat Ekonomi ASEAN, nilai-nilai entrepreneurship, seperti kreativitas, inovatif, risiko moderat, ulet dan bertanggungjawab, optimistis, perlu selalu ditanamkan pada generasi muda, terutama melalui Pendidikan Ekonomi, sehingga jiwa dan semangat generasi muda dapat lebih kompetitif dalam menghadapi persaingan di era Masyarakat Ekonomi ASEAN. Peran Pendidikan Ekonomi sangat diperlukan untuk menyiapkan semangat generasi muda agar menjadi pelaku aktif dan partisipatoris dalam revolusi ekonomi menuju perubahan yang positif dan abadi.  Kata kunci: Entrepreneurship. Nilai dan sikap, Pendidikan Ekonomi.Abstract: Instilling Entrepreneurship Values through Economic Education in the Era of the ASEAN Economic Community. Entrepreneurship has a dominant role to push economic activities at any level -- locally, regionally as well as globally. The dynamic entrepreneurs affect the economic growth and prosperity. Entrepreneurs who have a spirit of leadership and entrepreneurial spirit will lead the economic revolution to raise living standards. Under AEC the values of entrepreneurship, such as creative, innovative, tough, responsible, and optimistic, should always be instilled to the younger generation, especially through Economic Education. The Role of Economic Education is needed to prepare the young people to actively participate to positive economy activities. Keywords: Entrepreneurship, Value, Economic Education

scholarly journals MENGKRITISI TEORI PEMBANGUNAN EKONOMI KONVENSIONAL

2012 ◽  
Vol 1 (1) ◽  
Author(s):  
M. Shabri Abd. Majid
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Growth Theory ◽  
Important Indicator ◽  
Early Emergence ◽  
The People ◽  
Over Time ◽  
Holy Book

The failure of western economists to identify the factors that cause of the differences in economic growth within a country over time and differences in economic growth between countries are because of their weaknesses and ignorance. Besides, the ignorance of the role of science in the early emergence of the theory of economic development, until now they still deny the presence of the grace of Allah SWT as the most important factor causing the ongoing economic development of the people. Because of the high value of science in Islam, then the mastery of science comprehensively and completely will allow Muslims to build its economy. However, economic development of the people will never apply without the blessing of Allah through His grace stream. This paper is to review and uncover the weakness of western economic growth theory since the theory was first initiated. Although, initially the western economists had ignored the role of science as one important indicator of economic development, then in the end of 2nd millennium they have that mastery of knowledge is absolutely necessary to develop the economy of the country. It is clearly shown that finally the western economists were forced to admit the truth of the words of Allah that has been poured in the Muslim holy book, Al Qur'an, about the importance of the role of sciences in life in this world. ========================================================================================================Kegagalan para ahli ekonomi barat untuk mengidentifikasi faktor-faktor penyebab terjadinya perbedaan pertumbuhan ekonomi dalam sebuah negara dari masa ke masa dan perbedaan pertumbuhan ekonomi antar negara adalah mutlak disebabkan oleh kedhaifan dan kejahilan mereka sendiri. Selain sempat mengabaikan peran ilmu pengetahuan pada awal-awal kemunculan teori pembangunan ekonomi, hingga detik ini mereka masih menafikan kehadiran rahmat Allah SWT sebagai faktor terpenting penyebab berlangsungnya pembangunan ekonomi umat. Karena tingginya nilai ilmu pengetahuan dalam Islam, maka penguasaan ilmu pengetahuan secara komprehensif dan benar jelas akan memudahkan umat Islam untuk membangun ekonominya. Namun, pembangunan ekonomi umat tidak akan pernah berlaku tanpa mendapat restu Allah SWT melalui cucuran rahmatNya. Tulisan ini meninjau dan menguak kedhaifan teori pertumbuhan ekonomi barat sejak teori itu pertama kali digagaskan. Walaupun pada awalnya para ahli ekonomi barat sempat mengabaikan peran ilmu pengetahuan sebagai salah satu indikator penting dalam pembangunan ekonomi, namun di akhir milineum ke-2 mereka telah menyadari bahwa penguasaan ilmu pengetahuan adalah mutlak diperlukan untuk membangun ekonomi negara. Ini, secara jelas, menunjukkan bahwa, akhirnya, para ahli ekonomi barat terpaksa mengakui kebenaran kata-kata Allah SWT yang telah dituangkan dalam kitab suci umat Islam, al-Qur'an tentang pentingnya peran ilmu pengetahuan dalam menjalani kehidupan di dunia fana ini.

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