Is convergence rate monotonic?

2007 ◽  
Vol 57 (3) ◽  
pp. 247-261 ◽  
Author(s):  
P. Csillik ◽  
T. Tarján
Keyword(s):  
Economic Growth ◽  
Economic Performance ◽  
Slight Modification ◽  
Quadratic Formula ◽  
The Third ◽  
The Us ◽  
Quality Of Institutions ◽  
Post War ◽  
Stock Of Knowledge

The paper aims to develop a model of nonlinear economic growth — with simple assumptions — which explains both Japan’s S -shape convergence path and the UK’s declining path toward the US between 1870–2000, and the development of other countries, as well as post-war reconstruction. According to the model, progress in stock of knowledge is formed by a quadratic formula of the relative development of follower countries.The model draws on four recent theories. Firstly, Romer’s theory, which approaches a country’s level of development by using the number of its products (Romer 1990), secondly, Jones’ idea theory with a slight modification (Jones 2004), third, the theory of quality of institutions, which determines economic performance (North 1993), and finally, the theory of physical and human capital. The first part of the paper sets up the production function, the second determines the growth rate and analyses the reconstruction path, while the third draws up model forecasts.

The World Bank and the politics of productivity: the debate on economic growth, poverty, and living standards in the 1950s

2011 ◽  
Vol 6 (1) ◽  
pp. 53-74 ◽  
Author(s):  
Michele Alacevich
Keyword(s):  
Economic Growth ◽  
International Organizations ◽  
Social Issues ◽  
Living Standards ◽  
Bretton Woods ◽  
The World Bank ◽  
Development Agenda ◽  
The Us ◽  
Multilateral Organizations ◽  
Post War

AbstractAccording to most reconstructions of development debates, poverty and social issues were not part of the development agenda until the late 1960s. In contrast, this article shows that development practitioners and institutions were already addressing poverty and social issues in the late 1940s and early 1950s. However, economic multilateral organizations soon marginalized those inclusive views and focused exclusively on economic growth. This article discusses those early policy options and why they were marginalized. It argues that this happened for ideological reasons, specifically because of the ideological anti-New Deal post-war backlash and the adhesion of Western countries and multilateral organizations to what Charles Maier defined as the politics of productivity. This ideological backlash explains the rise and early demise of Keynesian ideas in international organizations, and, conversely, their stronger influence in developing countries, where the direct influence of the US and Bretton Woods organizations was somewhat mitigated.

scholarly journals Privatisation of Socially Owned Enterprises, the Methods Used and the Impact on Economic Growth Empirical evidence from Kosovo

2021 ◽  
Author(s):  
Ujkan Bajra
Keyword(s):  
Economic Growth ◽  
Empirical Test ◽  
Social Consequences ◽  
Aggregate Level ◽  
Quality Of Institutions ◽  
Panel Effects ◽  
Communist Countries ◽  
The Impact ◽  
Determining Factor

Abstract Privatisation together with the related social consequences and impact on the economy represent key challenges facing the former communist countries. This paper aims to assess how the privatisation of socially owned enterprises (SOEs) affects economic growth, entailing an empirical test using a panel effects regression analysis on a sample of 571 SOEs (or 1,600 assets) over a 16-year period (2003–2018). We find that privatisation at the aggregate level does not boost economic growth; in particular, the methods used to privatise SOEs or parts of them are not a determining factor. We also show that the quality of institutions is fragile, confirming a negative associations with economic growth. We also show that the effects of privatisation vary according to the method used, although we note that the sale of SOEs or parts thereof in the first decade of privatisation has been quite selective, devoid of development effects and faced with serious impediments to privatisation funds being directly invested in the economy.

scholarly journals Economic growth and quality of institutions in 27 postsocialist economies

2020 ◽  
Vol 47 (4) ◽  
pp. 769-787
Author(s):  
Constantinos Alexiou ◽  
Sofoklis Vogiazas ◽  
Nikita Solovev
Keyword(s):  
Economic Growth ◽  
Panel Cointegration ◽  
Institutional Quality ◽  
Supporting Evidence ◽  
Causality Analysis ◽  
Content Type ◽  
Long Run ◽  
Quality Of Institutions ◽  
The Relationship

PurposeThe relationship between institutional quality and economic growth is revisited.Design/methodology/approachA panel cointegration methodology and causality analysis are applied to 27 postsocialist economies over the period from 1996 to 2016.FindingsUtilizing the Worldwide Governance Indicators as a means of assessing the quality of institutions, it is found that in the long run, economic growth is positively associated with the rule of law and voice and accountability. In the short run, regulatory quality retains a positive effect, but voice and accountability demonstrate a puzzling negative effect on economic growth that merits further analysis. In exploring the causal dimension of our variables, supporting evidence of the strong links between the quality of institutions and economic growth is provided, hence rendering robust results.Originality/valueTo the best of the authors’ knowledge, it is the first time that an ARDL methodological framework, which addresses potential endogeneity issues, is used to investigate the relationship between institutional quality and growth in the context of postsocialist economies.

Digital Divide and the ICT Paradigm Generally and in Estonia

2005 ◽  
pp. 182-187
Author(s):  
Tarmo Kalvet
Keyword(s):  
Quality Of Life ◽  
Economic Growth ◽  
Developing Countries ◽  
Public Sector ◽  
New Technologies ◽  
Third Wave ◽  
The Public ◽  
The Third ◽  
Made In

A multitude of writings have appeared since the 1970s describing how societies have undergone “information revolutions” (Bell, 1973; Castells, 1998; Masuda, 1981), “the third wave” (Toffler, 1980), etc. Indeed, ICT development has been explosive in both developed and developing countries since the 1990s. This, in turn, has given some countries an opportunity for bigger economic growth; attempts have been made in a majority of countries to rearrange the organization of the public sector, and individuals have experienced a rise in the quality of life due to the introduction of new technologies.

The Quality of Government and Economic Growth

2021 ◽  
pp. 358-377
Author(s):  
Pelle Ahlerup ◽  
Thushyanthan Baskaran ◽  
Arne Bigsten
Keyword(s):  
Economic Growth ◽  
Economic Performance ◽  
High Growth ◽  
Economic Life ◽  
Cultural Norms ◽  
Limited Evidence ◽  
Institutional Challenges ◽  
The Relationship

This chapter reviews the literature on the relationship between the quality of government (QoG) and economic growth. As there is limited evidence on the link between QoG narrowly defined and growth, our focus is on the role of related aspects, such as democracy, formal institutions, and cultural norms. We discuss institutional challenges in generating and sustaining high growth rates. We then review the evidence on how QoG, and related aspects of political and economic life, affect growth and pay attention to the relevant channels. We also discuss whether it is harder to sustain growth if it increases inequality. Since a government needs to be both efficient and impartial to support aggregate economic performance, we argue that it is too strict to let QoG be defined as impartiality only.

Are Italians also Fiscal Conservatives?

1999 ◽  
Vol 17 (1) ◽  
pp. 35-44
Author(s):  
Kenneth V. Greene ◽  
Mario Pagliero
Keyword(s):  
Economic Growth ◽  
Communist Party ◽  
Economic Performance ◽  
Government Spending ◽  
Democratic Party ◽  
Italian Regions ◽  
Christian Democratic Party ◽  
Post War

Abstract Data on former Christian Democratic Party and Communist Party voters shares in nineteen Italian regions in the post-war era are analyzed to see if voters punish or reward politicians for economic performance and for big growth in government spending. We find that the DC was harmed by inflation and employment but benefitted from economic growth. Some evidence is also presented which implies that its potential constituents acted as fiscal conservatives.

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