scholarly journals The politics of the British model of capitalism’s flatlining productivity and anaemic growth: Lessons for the growth models perspective

2021 ◽  
pp. 136914812110446
Author(s):  
Ben Clift ◽  
Sean McDaniel
Keyword(s):  
Economic Growth ◽  
Capital Investment ◽  
Growth Models ◽  
Holistic Approach ◽  
Developmental Trajectory ◽  
Limited Capacity ◽  
State Institutions ◽  
Political Economic ◽  
Investment Patterns ◽  
New Framework

This article assesses the usefulness of the growth models perspective for understanding contemporary British capitalism in the context of its ongoing ‘productivity puzzle’ and stagnating economic growth. The analysis of British capitalism supports our argument that growth models perspective analyses currently have limited capacity to understand the developmental trajectory of growth models, the instabilities and dysfunctionalities of these models, and how growth comes to be distributed differently across models. Through analysis of capital investment patterns and labour market characteristics, it reveals the importance of the ‘politics of productivity’, embedded in state institutions, which shapes the nature and distribution of economic growth. The article outlines a new framework for growth models analysis that ‘brings the supply-side back in’ for a more holistic approach to the political economy of capitalist growth (and non-growth). It argues this is critical for understanding patterns of political economic development in the British model of capitalism and beyond.

Cross-National Variation in Growth Models

2020 ◽  
pp. 135-160
Author(s):  
Georg Picot
Keyword(s):  
Economic Growth ◽  
Public Sector ◽  
Fuzzy Set ◽  
Growth Models ◽  
Oecd Countries ◽  
The Public ◽  
Advanced Economies ◽  
Additional Demand ◽  
Economic Growth Models ◽  
New Framework

The chapter presents a new framework for categorizing economic growth models and applies it to twenty-eight OECD countries from 1995 to 2016. The framework draws on three fundamental ways in which economies can benefit from additional demand: the private sector (households and companies) can spend more than its income, the public sector can spend more than its revenues, or the economy sells more abroad than it imports. The empirical section uses fuzzy-set ideal type analysis to identify the combinations in which advanced economies used these three ways of boosting demand in three subperiods between 1995 and 2016. The results show that most economies use at least one of the three sources of extra demand to tackle the era of low growth. At the same time, there are clear differences in growth models between groups of countries. These are in line with clusters that the literature commonly identifies due to their institutional similarities. The growth models in this chapter are therefore outcomes of differences in growth regimes.

scholarly journals Defence Spending and Economic Growth: Re-examining the Issue of Causality for Pakistan and India

1995 ◽  
Vol 34 (4III) ◽  
pp. 1109-1117 ◽  
Author(s):  
Rizwan Tahir
Keyword(s):  
Economic Growth ◽  
Capital Investment ◽  
Growth Models ◽  
Empirical Studies ◽  
Positive Association ◽  
Developed Countries ◽  
Trade Offs ◽  
Defence Spending ◽  
Using Data ◽  
The Impact

What is the impact of carrying a heavy defence burden on the country’s economic development and growth? Views expressed in the literature1 argue that national defence is a consumption good which reduces economic growth by reducing saving and capital investment. A number of empirical studies have investigated the possible trade-offs between defence spending and other government expenditures like health and education. Empirical evidence concerning the relationship between defence spending and economic growth for developed countries is not inconsistent with the view that defence reduced the resources available for investment and hurts economic growth. See, for example, Benoit (1973). The evidence for developing countries, however, has not been entirely consistent or conclusive.2 Benoit (1978), using data on 44 less developed countries (LDCs) for the period 1950–65, found a strong positive association between defence spending and growth of civilian output per capita. Fredericksen and Looney (1982), using data for the period 1960–78 on a large cross-section, concluded that increased defence spending assists economic growth in resource-rich countries and not in resource-constraint ones. Using a sample of 54 LDCs pertaining to the period 1965–73, Lim (1983) found that defence spending hurts economic growth. Biswas and Ram (1986) in a sample of 58 LDCs for time-periods 1960–70 and 1970–77, using conventional and augmented growth models, concluded that military expenditures neither help nor hurt economic growth to any significant extent.

The Comparative Political Economy of Growth Models: Explaining the Continuity of FDI-Led Growth in Ireland and Hungary

2021 ◽  
Vol 49 (1) ◽  
pp. 75-106
Author(s):  
Dorothee Bohle ◽  
Aidan Regan
Keyword(s):  
Capital Investment ◽  
Multinational Firms ◽  
Growth Models ◽  
Case Study Research ◽  
Comparative Case Study ◽  
Oriented Growth ◽  
Political Determinants ◽  
Growth Regime ◽  
Business Power ◽  
Comparative Capitalism

This article argues that the quiet politics of informal business-state interaction explains the political determinants of growth regimes. Building on the business power literature within the study of comparative capitalism, it shows that the noisy politics of elections often leads to changes of government but rarely to fundamental changes in the growth regime. Rather, growth models can be traced to the interactions and interests of dominant corporations within a country and its policymaking elites. The argument is developed through a comparative case study research design, using the case of foreign direct investment–led (FDI-led) growth in Ireland and Hungary. FDI-led growth regimes are a universe of cases that rely on state-led industrial and enterprise policies targeting the capital investment of foreign-owned multinational firms. Despite periods of noisy electoral politics challenging basic tenets of the FDI-led growth model in both Hungary and Ireland, the continuity of FDI-oriented growth is traced to the corporate politics of business-state elite deals.

Structure of Economic Growth of the Countries of the Eurasian Union

2020 ◽  
Vol 152 ◽  
pp. 112-123
Author(s):  
Oleg S. Sukharev ◽  
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Mixed Model ◽  
Raw Materials ◽  
Growth Models ◽  
Structural Formula ◽  
Industrial Growth ◽  
Economic Relations ◽  
Macroeconomic Analysis ◽  
Investment Structure

The purpose of the study is to determine the existing growth models of the countries of the Eurasian Union by GDP expenditures and sectors (manufacturing, transactional raw materials). The research methodology is a macroeconomic analysis of the dynamics of the main indicator of economic development — gross domestic product. The research method is a structural analysis that allows you to get a structural formula for calculating the contribution of each component of GDP to the growth rate, as well as a comparative analysis of the dynamics models of the countries in question — Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia. The result of the study is the obtained structural relationships that make it possible to measure the influence of the investment structure on the growth rate, the criteria describing economic growth with a corresponding change in the country's national wealth, as well as the identification of models of economic dynamics by the countries of the Eurasian Union. It is indicative that the transaction sector dominates in Kazakhstan and Russia, while in other countries a mixed model is found, or industrial growth as in Belarus. According to the components of GDP and expenditures of the country, either a mixed or a consumer model is found (Kyrgyzstan, Russia), however, the contribution of government spending to the growth rate is provided only in Kazakhstan. It was also revealed that the reaction to the crisis of 2009 and 2015 was fundamentally different for the countries of the Eurasian Union. The search for the factor conditions of such a prevailing dynamics, as well as the influence of union economic relations on the formation of a growth model in each country, requires an expansion of research and an analytical perspective

The Role of Human Capital Investment in Poverty Alleviation and Improvement of Indonesian Human Performance in Dignified Economic Independence

2021 ◽  
Vol 1 (1) ◽  
pp. 132-135
Author(s):  
Nur Sholeh Hidayat ◽  
◽  
Eddy Priyanto
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Investment ◽  
Human Performance ◽  
Moving Average ◽  
Human Capital Investment ◽  
Secondary Data ◽  
Economic Independence ◽  
Education And Health

This research studies the role of human capital investment through the mechanism of improving education and health services in efforts to alleviate poverty and increase economic independence with dignity in the form of improving the performance of Indonesia's human resources which is reflected in Indonesia's economic growth. This study uses secondary data from world banks and processed regression using the moving average autoregression method. We find that investment in education and investment in health is positively related to economic growth. And, poverty is negatively related to economic growth. This indicates that human capital investment in Indonesia is able to promote economic growth and alleviate poverty in Indonesia.

Mortality decline, human capital investment, and economic growth

2000 ◽  
Vol 62 (1) ◽  
pp. 1-23 ◽  
Author(s):  
Sebnem Kalemli-Ozcan ◽  
Harl E. Ryder ◽  
David N. Weil
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Investment ◽  
Human Capital Investment ◽  
Mortality Decline

On the Effectiveness of Growth- Enhancing Policies in a Model of Growth Without Scale Effects

2002 ◽  
Vol 3 (3) ◽  
pp. 339-346 ◽  
Author(s):  
Lutz G. Arnold
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Human Capital ◽  
Population Growth ◽  
Capital Accumulation ◽  
Scale Effects ◽  
Growth Models ◽  
Empirical Studies ◽  
Human Capital Accumulation ◽  
Accelerate Growth

Abstract Standard R&D growth models have two disturbing properties: the presence of scale effects (i.e., the prediction that larger economies grow faster) and the implication that there is a multitude of growth-enhancing policies. Recent models of growth without scale effects, such as Segerstrom's (1998), not only remove the counterfactual scale effect, but also imply that the growth rate does not react to any kind of economic policy. They share a different disturbing property, however: economic growth depends positively on population growth, and the economy cannot grow in the absence of population growth. The present paper integrates human capital accumulation into Segerstrom's (1998) model of growth without scale effects. Consistent with many empirical studies, growth is positively related not to population growth, but to investment in human capital. And there is one way to accelerate growth: subsidizing education.

scholarly journals The evaluation of project-based learning in Malaysia: propose a new framework for polytechnics system

2018 ◽  
Vol 8 (2) ◽  
pp. 143 ◽  
Author(s):  
Sadrina Sadrina ◽  
Ramlee Mustapha ◽  
Muhammad Ichsan
Keyword(s):  
Economic Growth ◽  
Vocational Education ◽  
Sample Size ◽  
Empirical Data ◽  
Descriptive Study ◽  
Project Based Learning ◽  
Traditional Lecture ◽  
Significant Aspect ◽  
Lecture Method ◽  
New Framework

Technical and Vocational Education is one of the various disciplines that believed could encourage the country’s economic growth. Project-Based Learning or PBL was introduced in the Malaysian polytechnics curriculum in terms to produce creative and innovative graduates Thus, Project-Based Learning was introduced because of the ineffectiveness of the traditional lecture method. This study was a kind of descriptive study intended to examine the perception of students and supervisors regarding the Project-Based Learning at one Polytechnic in Malaysia. A population of 170 would be represented by a sample size of 118 respondents and 43 supervisors to participate in the study. The result found that the significant aspect to be included in Project-Based Learning is effective supervising skills. However, from the data, some supervisors have no proficiency skills of Project-Based Learning. Based on the empirical data which derived from the present study, a new framework for Project-Based Learning is suggested for the polytechnics system.

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