scholarly journals Iceland’s Economic Growth Prospects in the Post-Covid-19 Period

2021 ◽  
Vol 103 (3) ◽  
pp. 128-138
Author(s):  
Aleksei Kravchuk ◽  
Keyword(s):  
Economic Growth ◽  
Growth Potential ◽  
High Tech ◽  
New Energy ◽  
Growth Prospects ◽  
Ongoing Development ◽  
The Uk ◽  
Resource Sector ◽  
Industry Sectors ◽  
Innovative Industry

Due to the global coronavirus pandemic Iceland is facing the largest economic crisis for half a century. But after the pandemic is over, the economy is expected to quickly recover and continue its further growth. In this article, the author intends to explore how well these expectations are justified and which industry sectors could contribute to Iceland’s economic growth. The analysis shows that the country’s current key export sectors (tourism, seafood production and aluminum industry) have a limited growth potential, mainly related to the ongoing development of aquaculture. The paper also considers key economic projects, linked to utilization of Iceland’s resource and innovative potential. The abundance of cheap renewable energy enables the country to develop new energy-intensive projects (silicon smelters and data centers), as well as to consider the possibility to directly transmit electricity to the UK (project IceLink). These initiatives could significantly contribute to the future economic growth, although the Icelandic energy industry is not limitless. However, the biggest economic growth is expected in innovative industry sectors. A number of projects in bioengineering, biomedicine, pharmacology, and high-tech equipment production have been started in Iceland. In the longterm perspective, their potential profits could exceed the ones of the resource sector of the country’s economy.

scholarly journals Unleashing The Growth Potential Of Indian MSME Sector

2017 ◽  
Vol 20 (2) ◽  
pp. 35-52 ◽  
Author(s):  
Sumanjeet Singh ◽  
Minakshi Paliwal
Keyword(s):  
Economic Growth ◽  
Economic Structure ◽  
Total Export ◽  
Growth Potential ◽  
High Tech ◽  
Policy Measures ◽  
The Government ◽  
Future Growth ◽  
Innovation And Entrepreneurship

The MSME sector occupies a position of strategic significance in the Indian economic structure. This sector contributes nearly eight per cent to country’s GDP, employing over 80 million people in nearly 36 million widely-dispersed enterprises across the country; accounting for 45 per cent of manufactured output, 40 per cent of the country’s total export, and producing more than 8000 valueadded products ranging from traditional to high-tech. Furthermore, these enterprises are the nurseries for innovation and entrepreneurship, which will be key to the future growth of India. It is also an acknowledged fact that this sector can help realise the target of the proposed National Manufacturing Policy to enhance the share of manufacturing in GDP to 25 per cent and to create 100 million jobs by the end of 2022, as well as to foster growth and take India from its present two trillion dollar economy to a 20 trillion dollar economy. Despite the sector’s high enthusiasm and inherent capabilities to grow, its growth story still faces a number of challenges. In this light, the present paper examines the role of Indian MSMEs in India’s economic growth and explores various problems faced by the sector. The paper also attempts to discuss various policy measures undertaken by the Government to strengthen Indian MSMEs. Finally, the paper proposes strategies aimed at strengthening the sector to enable it to unleash its growth potential and help make India a 20 trillion dollar economy.

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 UK Economic Growth since 2010: Is it as Bad as it Seems?

2015 ◽  
Vol 231 ◽  
pp. R17-R29 ◽  
Author(s):  
Nicholas Crafts
Keyword(s):  
Economic Growth ◽  
Growth Potential ◽  
The Other ◽  
Coalition Government ◽  
Supply Side ◽  
Medium Term ◽  
Crisis Period ◽  
Radical Reform ◽  
Growth Prospects ◽  
The One

This paper reviews UK supply-side policies since 2010 in terms of their impact on growth and considers medium-term growth prospects in the context of the puzzle of disappointing post-crisis TFP performance. It is argued that there is no reason to believe that growth prospects have deteriorated significantly compared with the pre-crisis period. Changes in policy under the Coalition government are unlikely to have made a big difference to growth potential. On the one hand, this means opportunities for radical reform have been ignored; on the other hand, there has been no repeat of the 1930s’ debacle.

scholarly journals Analysis of Potential Sectors of Central Java Province

2018 ◽  
Vol 1 (1) ◽  
pp. 20-28
Author(s):  
Hastarini Dwi Atmanti ◽  
Jopie Tamtelahitu
Keyword(s):  
Economic Growth ◽  
Growth Patterns ◽  
Growth Potential ◽  
Public Welfare ◽  
Economic Sector ◽  
Input Output ◽  
Central Java ◽  
Growth Prospects ◽  
Sectoral Linkages ◽  
Central Java Province

Central Java province strives to always increase the potential of its sector. If the potential of the sector increases, then economic growth is created and public welfare increases. Inter-sectoral linkages can help to increase the potential of less potential sectors. Through proper planning policies, all sectors can potentially advance so that the welfare of society is created. The purpose of this study is to analyze the growth patterns and structure of each economic sector to estimate future economic growth prospects in the future, to analyze the dominant sectors of growth and growth potential and to analyze potential sectors based on growth criteria and contribution criteria. While the data used is Table Input Output Central Java 2013, Central Java GRDP 2007 - 2013, and GDP in 2007 - 2013. The method used Shift Share, LQ and Typology Klasen.

Production capacity of Russian industry: Potential of import Substitution and economic Growth

2015 ◽  
pp. 5-24 ◽  
Author(s):  
B. Zamaraev ◽  
T. Marshova
Keyword(s):  
Economic Growth ◽  
Import Substitution ◽  
Production Capacity ◽  
Current Level ◽  
High Tech ◽  
Industrial Growth ◽  
Russian Industry ◽  
Technological Modernization ◽  
Capacity Structure ◽  
Idle Capacity

The article examines the state of production capacity of Russian industry. It is shown that in spite of certain positive shifts, the rate of technological modernization in recent years has been insufficient for marked progressive changes in the capacity structure and quality. In contrast to the industrial growth after the crisis of 1998 that took place in the presence of significant reserves of capacity, the current level of idle capacity is much lower. The lack of mass input of modern and high-tech industries objectively limits the possibilities of import substitution and economic growth.

Japan's Role in Asia-Pacific Cooperation

1991 ◽  
Vol 513 (1) ◽  
pp. 25-37 ◽  
Author(s):  
SABURO OKITA
Keyword(s):  
United States ◽  
Economic Growth ◽  
International Economic ◽  
The United States ◽  
Growth Potential ◽  
The Other ◽  
Asia Pacific ◽  
Asia Pacific Economic Cooperation ◽  
Rapid Economic Growth ◽  
International Trading

The Asia-Pacific countries achieved rapid economic growth with the flying-goose model in the 1980s, growth buttressed by export-oriented development strategies and the policy culture in these countries. While Japan and the other Asia-Pacific countries still have strong growth potential, many problems remain, including trade imbalances with the United States and the rise of protectionism there, the Asia-Pacific economies' vulnerability, and the need to consolidate the infrastructure for growth. It is imperative that Japan contribute to the development of the region by responding effectively to these issues and that it strengthen the international trading arrangements by promoting Asia-Pacific cooperation premised on openness. Given the region's great internal diversity, Asia-Pacific economic cooperation can well serve as a model for international economic coordination.

ICT and the Returns to Schooling and Job-Specific Experience

2007 ◽  
Vol 201 ◽  
pp. 76-85 ◽  
Author(s):  
Simon Kirby ◽  
Rebecca Riley
Keyword(s):  
Labour Force ◽  
Capital Intensity ◽  
Marginal Effect ◽  
Skill Levels ◽  
Returns To Schooling ◽  
Specific Experience ◽  
The United Kingdom ◽  
Return To Schooling ◽  
The Uk ◽  
Industry Sectors

We use the United Kingdom Labour Force Survey to estimate the returns to schooling and job-specific experience in sixteen different industry sectors over the period 1994-2001. Next, assuming skill levels are fixed, we assess the marginal effect on these returns of the capital intensity of production and the ICT intensity of capital. Our results indicate that in the UK, over the period 1994-2001, the rising ICT intensity of capital was associated with a rise in the return to schooling, and a reduction in the return to job-specific experience.

Prospects for the UK economy in 2022

2021 ◽  
Keyword(s):  
Economic Growth ◽  
Export Performance ◽  
Content Type ◽  
Net Migration ◽  
The Uk

Significance However, the recovery has also led to supply bottlenecks and labour shortages, which have resulted in inflationary pressures. While most of the pandemic-related impacts on the economy are expected to be transitory, longer-term challenges such as export performance, net migration and productivity will weigh on economic growth.

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