scholarly journals Social Classes of Intelligence, Economic Growth and Technological Achievement: Robust Regression and Outlier Detection

2018 ◽  
Vol 30 (2) ◽  
pp. 148-163 ◽  
Author(s):  
Nik Ahmad Sufian Burhan ◽  
Razli Che Razak ◽  
Saifuzzaman Ibrahim ◽  
Muhamad Rosli Selamat ◽  
Muhamad Ridhwan Rosli
Keyword(s):  
Economic Growth ◽  
Cognitive Skills ◽  
Technological Progress ◽  
Robust Regression ◽  
Technological Development ◽  
Ability Group ◽  
Average Ability ◽  
Academic Qualifications ◽  
The Impact ◽  
Technological Achievement

A previous study has shown that the intellectual class, which is represented by the 95th percentile intelligence quotient (IQ) at a normal distribution, displayed the strongest impact upon economic growth. Meanwhile, those with average ability (50th percentile IQ) exhibited the second strongest impact, and followed by the non-intellectual class (5th percentile IQ). In addition, the researchers discovered that only the intellectual class was significant for technological progress. As such, this article re-analysed the dataset employed in prior study via robust regression. As a result, after eliminating several outliers, the levels of IQ for the intellectual class and the average ability group displayed equal impacts on economic growth, and the impacts were larger than that of non-intellectual. Furthermore, the IQ of the average ability group was significant for technological achievement, although not as strong as the intellectual class. Besides, the number of professional researchers employed in the research and development (R&D) sector did not reflect similar paramount effects as the impact of the average ability IQ in generating technological development. Thus, based on the conclusions drawn, this study suggests that the R&D sector should employ professionals who possess not only high academic qualifications, but also exceptional levels of cognitive skills, especially to spark new innovations. JEL: J24, O31, O47, Z13

The Impact of the Transformation of Age Structure on Economic Growth

2016 ◽  
Vol 04 (04) ◽  
pp. 1650031 ◽  
Author(s):  
Wen ZHAO ◽  
Xuyang ZHU
Keyword(s):  
Economic Growth ◽  
Age Structure ◽  
Capital Accumulation ◽  
Technological Progress ◽  
Participation Rate ◽  
Market Mechanisms ◽  
Economic Growth Rate ◽  
Intergenerational Redistribution ◽  
Labor Remuneration ◽  
The Impact

The impact of the transformation of the age structure of the population on economic growth is governed by a strict law. In 12 economies under the authors’ observation, the contribution from the rejuvenation of the population to economic growth is basically 6% — the Chinese Mainland makes a contribution of 6.3%. The rejuvenation of the population has stimulated economic growth, but its contribution is very small compared with the contributions from capital accumulation and technological progress. According to international experience, in the case of addressing the transformation of the age structure of the population, relying on intergenerational redistribution will exert a great negative economic impact, while reducing the intensity of that redistribution and relying on market mechanisms to adjust the level of labor remuneration can increase the employment rate and the labor participation rate, thus raising the economic growth rate to the greatest extent.

Breakthrough Technologies: New Directions in Economic and Social Development

2021 ◽  
Vol 26 (11) ◽  
pp. 1227-1235
Author(s):  
V. D. Ardzinov ◽  
N. V. Chepachenko ◽  
A. A. Leont’ev
Keyword(s):  
Economic Growth ◽  
National Economy ◽  
Growth And Development ◽  
Industrial Revolution ◽  
New Technologies ◽  
Technological Development ◽  
Managerial Decision ◽  
Russian Economy ◽  
The Impact

The presented study examines the comparative characteristics of industrial revolution targets, national goals, and strategic objectives for the development of the Russian economy; proposes methods for measuring and evaluating technological development; describes its impact on economic growth and shows the performance of enterprises.Aim. The study aims to determine the specific features of formation of economic and social development targets and the potential of new technologies, including breakthrough technologies, for shaping the technological development of the Russian economy; to propose methods for measuring and evaluating technological development and its impact on the growth and development of the national economy that would improve the quality of economic and managerial decision-making.Tasks. The authors clarify the interpretation of the concept of breakthrough technologies; identify distinctive features in the formation of industrial revolution targets and priority targets for the development of the Russian economy; substantiate methodological approaches to identifying parameters and indicators, methods for measuring and evaluating the level of technological development, its impact on the results of changes in economic growth and development of the national economy and its economic entities.Methods. The authors use the methods of scientific research, theoretical and comparative analysis, synthesis, generalization, general theory of economic growth, and elements of the economic efficiency theory.Results. The interpretation of breakthrough technologies as dominant new technologies that can ensure accelerated progressive development of the economy and minimize damage to the natural environment is clarified. The distinctive features of formation of industrial revolution targets and their relationship with the targets for the development of the Russian economy are identified. Evaluative features are substantiated; indicators for measuring and evaluating the transformation of the technological development of enterprises engaged in different activities and indicators for measuring and evaluating the impact of new technologies, including breakthrough technologies, on economic growth and development are proposed. The influence of the recommended measurement and evaluation methods on improving the quality of management decisions is shown.Conclusions. The study substantiates the need to improve methods for assessing the actual achieved (projected, planned) level of technological development as a necessary prerequisite for its qualitative analysis, evaluation, control, and monitoring required to make sound economic and managerial decisions. The proposed methods for measuring and evaluating technological development, measuring and evaluating the impact of new technologies, including breakthrough technologies, on the quality of economic growth, efficiency and competitiveness of the national economy (region, industry, activity, enterprises) improve the quality of managerial decision-making in achieving national goals for the development of the national economy.

On the Burden of Technology and the Mission of Scientist

2019 ◽  
Vol 56 (3) ◽  
pp. 36-39
Author(s):  
Nadezhda A. Kasavina ◽  
Keyword(s):  
Scientific Inquiry ◽  
Technological Progress ◽  
Technological Development ◽  
Science And Technology ◽  
Human Needs ◽  
Human Situation ◽  
Global Problems ◽  
Impact Of Technology ◽  
The Impact

The whole problem under our collective investigation, as I view it, is about understanding the human situation in terms of the impact of technology. The union of science and technology still resides within the limits of a “practical anthropocentrism” (Marsel G.), that is increasing satisfaction of human needs. An advancement in science and technology is accompanied by the desacralization of culture and the crisis of humanism. An awareness of the growing environmental, cultural, existential problems leads to the necessity to shift the vectors of scientific inquiry and technological development. In this process, the role and mission of the humanities is an articulation and promotion of human perspectives of science and technological progress. The humanities’ mission consists in attracting attention of scientists and society to humanizing technology and its aiming not only towards the growth of power over nature, but also to the making of a new relationship to the humans, to solving global problems.

Success Illgotten? The Role of Meiji Militarism in Japan's Technological Progress

1977 ◽  
Vol 37 (1) ◽  
pp. 113-135 ◽  
Author(s):  
Kozo Yamamura
Keyword(s):  
Economic Growth ◽  
Economic Analysis ◽  
Technological Progress ◽  
Technological Development ◽  
Foreign Technology ◽  
Meiji Japan ◽  
The Government

This study suggests that the militaristic orientation of the Meiji government and the wars fought against China and Russia contributed significantly to technological development in Meiji Japan (1868–1911). The roles played by the arsenals and the government-owned shipyards and factories in adopting and disseminating foreign technology are described to demonstrate their importance in the rapid Meiji industrialization. The article suggests that it is necessary to reexamine the view, primarily based on macro-economic analysis, that Meiji militarism was basically detrimental to economic growth in Japan.

FINANCIAL DEVELOPMENT, TECHNOLOGY AND ECONOMIC DEVELOPMENT: THE ROLE OF INSTITUTIONS IN DEVELOPING COUNTRIES

2019 ◽  
Vol 14 (03) ◽  
pp. 1950012 ◽  
Author(s):  
SAMINA SABIR ◽  
RASHID LATIF ◽  
UNBREEN QAYYUM ◽  
KAMRAN ABASS
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Financial Markets ◽  
Financial Development ◽  
Technological Development ◽  
Generalized Method Of Moments ◽  
Economic Activities ◽  
Interaction Terms ◽  
Development Technology ◽  
The Impact

Financial sector development plays a pivotal role in the process of economic growth and development through mobilization of savings and creating investment opportunities. Financial development also increases the level of technology by providing finance to entrepreneurs for technological innovations which leads to economic growth. Moreover, financial markets develop rapidly in those countries which have strong legal system to enforce property rights, support private contractual arrangement and protect the rights of investors that can support real economic activities. Therefore, the presence of good quality institutions strengthens financial development which leads to technological development and growth. This study investigates the impact of financial development, technology and institutions on economic growth of selected developing countries over the time span of 1996–2015. This study extends the Augmented Solow growth model by incorporating variables such as financial development, technology, institutions and their interaction terms in the model. Due to endogeneity problem, the empirical model used in the study is estimated by System Generalized Method of Moments (System-GMM). Empirical results show that financial development, technology and institutions have very strong effects on the economic growth developing countries. To attain a sustainable economic growth, developing countries should develop their institutions which are necessary for the effective functioning of financial markets that stimulate economic growth by providing finance to entrepreneurs for innovations in technological sectors.

scholarly journals Reflections on neo-Kaleckian growth regimes: a Marxian reproduction perspective

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Feng Zhao ◽  
Jiahe Tian ◽  
Yuchen Duan
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Income Distribution ◽  
Technological Progress ◽  
Supply Side ◽  
Demand Side ◽  
Content Type ◽  
The Impact ◽  
Kaleckian Model

PurposeThe neo-Kaleckian model follows the ideas of Marx, Keynes and Kalecki, that investment is a key influencing factor in the dynamics of the capitalist mode of production. Through the discussion of different forms of investment decision function, this paper constructs the analysis framework of wage-led and profit-led economic growth regimes.Design/methodology/approachThe model has become an important theoretical paradigm for current Western heterodox economists regarding the research on the impact of functional income distribution on economic growth, and it has a very large impact on both theoretical and empirical research. Starting from Marx's reproduction theory, this article discusses the theoretical shortcomings of the neo-Kaleckian growth regime model.FindingsThis paper mainly focuses on three aspects: (1) the ideological legacy of “Smith's Dogma”; (2) neglecting the restrictions on income distribution from the organic composition of capital and the surplus value rate; (3) technological progress and the formation of a new long economic wave.Originality/valueThe authors believe that the neo-Kaleckian model unilaterally emphasizes the demand-side factors in the economy and, unconsciously or not, ignores the role of the supply-side, which makes it encounter certain limitations in explaining long-term growth. Even if some empirical conclusions are employed to bridge functional income distribution and technological progress, there is still a lack of a theoretical basis for accurately describing long-term economic changes using this model. In order to better promote high-quality economic development and accelerate the formation of a new pattern of economic development in which the domestic large-scale cycle is the mainstay and the domestic and international double cycles promote each other, the authors need to adopt a policy combination with the supply-side as the main and the demand-side as the supplement, and to work from both sides.

scholarly journals Transition to a new paradigm of human capital development in the dynamic environment of the knowledge economy

2021 ◽  
pp. 170-176
Author(s):  
Yu Pylypenko ◽  
H Pylypenko ◽  
V.V Prokhorova ◽  
O.B Mnykh ◽  
Yu.V Dubiei
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Social Welfare ◽  
Knowledge Economy ◽  
Quantitative Measurement ◽  
Technological Development ◽  
Dynamic Environment ◽  
New Paradigm ◽  
Methodological Approaches ◽  
The Impact

Purpose. Establishing the qualitative characteristics of human capital and their compliance with modern trends of technical and technological development, formation of theoretical and methodological foundations of a new paradigm of human capital in a dynamic environment of the knowledge economy. Methodology. The study is based on a set of general scientific and specific methods of scientific knowledge, namely: dialectical approach to determine the main characteristics and factors of modern technical and technological development; methods of analysis and synthesis when studying the essential characteristics of human capital and methodological approaches to its quantitative measurement; grouping and classification when forming a sample of countries to study the impact of public welfare on human capital indicators; mathematical statistics to establish the relationship between per capita GVA and HDI. Findings. On the basis of the analysis of theoretical and methodological approaches proposed by leading international organizations to understand the essence of human capital, the lack of unity in the interpretation of this category with virtually unified methods of its quantitative measurement is stated. The main features of the current stage of technical and technological development, which is identified as a knowledge economy, are highlighted, and the inconsistency of key components in the existing indicators of human capital assessment with the realities of knowledge-intensive economic growth is shown. A regression model is built, based on which the dependence of human development indicators and, accordingly, human capital on the achieved level of social welfare in a given country is shown. The reasons of this dependence are identified and the principles of a new paradigm of human capital in the dynamic environment of the knowledge economy are proposed. Originality. The limitations of the dominant theoretical and methodological approaches to the quantitative assessment of human capital in the knowledge economy have been established. The transition to a new paradigm of its formation in modern conditions is grounded. It is proved that the qualitative parameters of human capital depend on the level of social welfare achieved in a particular country, which means that the processes of investing in human capital and increasing economic growth rates in individual countries are not always linear. The latter has been identified as one of the factors of intensification of global imbalances in technical and technological development. Practical value. Understanding the dependence of socio-economic development on the technical and technological component and its compliance with the basic characteristics of human capital allows governments to develop more effective economic policies aimed at forming an effective knowledge-based economy.

Efficient use of intellectual property

2019 ◽  
pp. 119-141 ◽  
Author(s):  
Grigory I. Senchenia
Keyword(s):  
Economic Growth ◽  
Intellectual Property ◽  
Property Rights ◽  
Intellectual Property Rights ◽  
Technological Development ◽  
Legal Protection ◽  
Digital Transformation ◽  
Raw Material ◽  
Rights Management ◽  
The Impact

With the acceleration of technological development and the digital transformation of economies, the impact of intellectual property on economic growth will increase. The article shows that the forms and means of legal protection and use of intellectual property will evolve in line with the opportunities that will be provided by the infrastructure (production, fixation, management, tracking and protection of intellectual property rights) in this area. In Russia, the “digitalization” of legal protection and use of intellectual property rights will make it possible to form public-private platforms for rights management, which will create additional opportunities for authors to effectively manage their rights. This will attract investors to the non-raw-material sector of the economy and may become an important driver for the development of the digital economy in the country as a whole.

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