scholarly journals The analysis of innovation input - output relationships in EU member states

2010 ◽  
Vol 13 (3) ◽  
pp. 93-106 ◽  
Author(s):  
Arkadiusz Kijek ◽  
Tomasz Kijek
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Endogenous Growth ◽  
Growth Models ◽  
Input Output ◽  
Member States ◽  
Eu Member States ◽  
Key Innovation ◽  
Endogenous Growth Models

This article presents some findings of an analysis of innovation input - output relationship in EU member states. The first section of the paper considers the role of innovation in economic growth with particular attention to the new endogenous growth models. In the second part, the dichotomous approach to innovation and its measures is presented. The last section contains the methodology and outcome of research. The results of the study show that R&D expenditures, ICT and human capital are the key innovation inputs that affect such innovation outputs as innovation and patent propensity and new-to-market sales.

scholarly journals The role of national intellectual capital in the digital transformation of EU countries. Another digital divide?

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jadranka Švarc ◽  
Jasminka Lažnjak ◽  
Marina Dabić
Keyword(s):  
Human Capital ◽  
Digital Divide ◽  
Conceptual Model ◽  
Intellectual Capital ◽  
Digital Transformation ◽  
Member States ◽  
Content Type ◽  
Eu Member States ◽  
The Eu

PurposeThis study, an exploratory one, aims to empirically investigate the association of national intellectual capital (NIC) with the national digital transformation readiness of the European Union's (EU’s) member states. Apart from building the conceptual model of NIC, this study explores the role of NIC dimensions in the digital divide between European countries.Design/methodology/approachBased on the literature review and the available EU statistical data and indexes, the theoretical framework and conceptual model for NIC were developed. The model explores the relation of NIC and its dimensions (human, social, structural, relational and renewable/development capital) on the readiness of European countries for digital transformation and the digital divide. Significant differences between EU countries in NIC and digital readiness were tested. Multiple linear regression was used to explore the association of each NIC dimension with digital transformation and digital divide within the EU.FindingsDespite a positive association between all dimensions of NIC and digital transformation readiness, the proposed model of NIC was not confirmed in full. Regression analysis proved social capital and working skills, a dimension of human capital, to be the predictors of digital transformation at a national level, able to detect certain elements of digital divide between EU member states. Structural capital, knowledge and education, as dimensions of human capital, were predictors of the digital divide in terms of the integration of digital media in companies.Research limitations/implicationsThis research has a limited propensity for generalisation due to the lack of common measurement models in the field of NIC exploration.Practical implicationsThis research offers policy makers an indication of the relationships between NIC and digital transformation, pointing out which dimensions of NIC should be strengthened to allow the EU to meet the challenges of digital economy and to overcome the digital divide between EU member states.Social implicationsThe use of digital technologies is key in creating active and informed citizens in the public sphere and productive companies and economic growth in the business sphere.Originality/valueThis study provides an original theoretical framework and conceptual model through which to analyse the relationship between NIC and digital transformation, which has thus far not been explored at the level of the EU. This research makes an original contribution to the empirical exploration of NIC and produces new insights in the fields of digital transformation and intellectual capital.

scholarly journals GENERALIZATIONS OF OPTIMAL GROWTH THEORY: STOCHASTIC MODELS, MATHEMATICS, AND METASYNTHESIS

2016 ◽  
Vol 21 (2) ◽  
pp. 515-544
Author(s):  
Stephen Spear ◽  
Warren Young
Keyword(s):  
Economic Growth ◽  
Endogenous Growth ◽  
Stochastic Models ◽  
Growth Models ◽  
Optimal Growth ◽  
Growth Theory ◽  
Stochastic Environment ◽  
Significant Progress ◽  
Long Period ◽  
Endogenous Growth Models

In previous papers [Spear and Young (2014, 2015)], we surveyed the origins, evolution, and dissemination of optimal growth, two-sector and turnpike models up to the early 1970s. Regarding subsequent developments in growth theory, a number of prominent observers, such as Fischer (1988), Stern (1991), and McCallum (1996), maintained that after significant progress in the 1950s and 1960s, economic growth theory “received relatively little attention for almost two decades” [Fischer (1988, p. 329)], and that “by the late 1960s early 1970s, research on the theory of growth more or less stopped” [Stern (1991, p. 259)]. Stern went on to say “the latter half of the 1980s saw a rekindling of growth theory, particularly in the work of Romer . . . and Lucas” (1991, p. 259), that is to say, in the form of “endogenous growth” models. McCallum, for his part, wrote (1996, p. 41), “After a long period of quiescence, growth economics has in the last decade (1986–1995) become an extremely active area of research.” Moreover, Brock and Mirman's (1972b) paper was the sole “extension” of Ramsey–Cass–Koopmans to a “stochastic environment” mentioned by McCallum (1996, 49).

scholarly journals THE ROLE AND INVOLVEMENT OF BUSINESS AND INSTITUTIONAL OPERATORS IN PROMOTING LOCAL INVESTMENT AND ECONOMIC GROWTH BY ACCESSING AND USING GRANTS. MEASURES AND COURSES OF ACTION

10.26458/1715 ◽  
2017 ◽  
Vol 17 (1) ◽  
pp. 59
Author(s):  
Janina Mirela Gabroveanu (Vladoi) ◽  
Alexandru Stefanescu
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Best Practices ◽  
Social Development ◽  
Good Governance ◽  
Regional Level ◽  
Member States ◽  
Eu Member States ◽  
Sustainable Economic Growth

Starting from the premise that sustainable development is an overall objective of EU Member States,that can be achieved through international cooperation that aims at economic growth, social development and environmental protection, the European Commission analyzed the socio-economic and investment context of the member states, identified risks and opportunities and made some recommendations.This paper presents the best practices of the European funding system to improve the accountability of business or institutional operators accessing European funds and the measures taken by some Member States for good governance.We emphasize the need to know the socio-economic and investment context by all stakeholders and initiate concrete measures of action to ensure real and sustainable economic growth by identifying feasible and lasting solutions; what is the role of business or institutional operators at local and regional level and how it could ensure good governance at local and regional level by applying for grants.

scholarly journals Revisiting the role of governance and institutions in the impact of financial liberalization on economic growth using the PSTR model

2017 ◽  
Vol 64 (3) ◽  
pp. 315-336 ◽  
Author(s):  
Hichem Saidi ◽  
Houssem Rachdi ◽  
Nidhal Mgadmi
Keyword(s):  
Economic Growth ◽  
Financial Liberalization ◽  
Growth Models ◽  
Study Data ◽  
Smooth Transition ◽  
Smooth Transition Regression ◽  
The Impact ◽  
The Relationship ◽  
Endogenous Growth Models

This paper provides a comprehensive review of the literature on the dual effect of financial liberalization over more than three decades, starting from the independent contributions of Ronald I. McKinnon and Edwards S. Shaw on this topic. In this regard, the paper revisits the effects of financial liberalization and governance on growth. Moreover, it presents a summary of current research in this area, covering the conclusions of the endogenous growth models, issues on volatility and the relationship between financial liberalization, institutions, governance and economic growth. To study data of 54 countries from 1985 to 2010 and because the nexus between financial liberalization and economic growth is nonlinear and depends on specific national factors especially institutions quality and governance, the Panel Smooth Transition Regression (PSTR) model is used. The main result of this study shows that a better contribution of financial liberalization to economic growth requires the interrelationship and the complementarity between financial liberalization and governance. Overall, regardless of the level of liberalization, output income is always higher with better governance and institutions.

scholarly journals Methodological approaches to modeling the role of institutions and technologies in the economic growth of the late USSR (mid-1950s – late 1980s)

2020 ◽  
Author(s):  
D. Didenko ◽  
◽  
N. Grineva
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Endogenous Growth ◽  
Historical Data ◽  
Production Functions ◽  
Country Comparison ◽  
Exogenous Growth ◽  
Proxy Indicators ◽  
Methodological Approaches

Based on historical data, we test our modified production functions, derived from exogenous growth model by Mankiw, Romer, Weil (1992) and theoretical ideas by Romer (1990). Besides physical and human capital, we augment them with proxy indicators for institutional and technological environments, and with a source of endogenous growth, i.e. R&D expenditures. We present our preliminary assessments of the role of these factors in economic growth of the late USSR in inter-country comparison.

scholarly journals Exogenous and Endogenous Growth Models: a Critical Review

2018 ◽  
Vol 21 (4) ◽  
pp. 63-84
Author(s):  
Themba G. Chirwa ◽  
Nicholas M. Odhiambo
Keyword(s):  
Economic Growth ◽  
Interest Rates ◽  
Endogenous Growth ◽  
Growth Models ◽  
Real Exchange Rates ◽  
Returns To Scale ◽  
Economic Growth Model ◽  
Long Run ◽  
Study Results ◽  
Endogenous Growth Models

The main divisions of the theoretical economic growth literature that we study today include exogenous and endogenous growth models that have transitioned through a number of notions and criticisms. Proponents of exogenous growth models argue that technological progress is the key determinant of long‑run economic growth as well as international productivity differences. Within the endogenous growth models, there are two notions that are propagated. The first postulates that capital used for innovative purposes can exhibit increasing returns to scale and thus account for the international productivity differences we observe today. The key determinants include knowledge, human capital, and research and development. The second argues that factors that affect the efficiency of capital, and hence cause capital flight, can also explain international productivity differences. These factors that affect the efficiency of capital include government spending, inflation, real exchange rates, and real interest rates. Our study results reveal that there is still no agreement on the dominant theoretical economic growth model amongst economists that can fully account for international productivity differences. We conclude that the future of theoretical economic growth is far from over and more work needs to be done to develop more practical structural economic growth models.

scholarly journals TESTING DIFFERENT CLASSES OF ENDOGENOUS GROWTH MODELS: INDUSTRY EVIDENCE FOR THE NEW ZEALAND ECONOMY

2002 ◽  
Vol 47 (01) ◽  
pp. 89-110 ◽  
Author(s):  
HANS-JÜRGEN ENGELBRECHT ◽  
NATHAN MCLELLAN
Keyword(s):  
United States ◽  
Human Capital ◽  
New Zealand ◽  
Panel Data ◽  
Endogenous Growth ◽  
Growth Models ◽  
The United States ◽  
Empirical Relationships ◽  
Exogenous Growth ◽  
Endogenous Growth Models

The endogenous growth literature can be broadly separated into two classes of growth models: Rival human capital models and non-rival "idea" models. Both classes differ in their positive and normative implications for growth. Following Klenow's (1998) approach, this paper uses industry panel data to investigate which class of growth models might be the most appropriate for the New Zealand economy: Exogenous growth, or one of the two classes of endogenous growth models. In contrast to Klenow's findings for the United States, in the New Zealand case rival human capital models seem more applicable, though none of the models correctly predicts all of the empirical relationships.

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