Tourism and Economic Structure in a Small-Open Growth Model

2012 ◽  
Vol 3 (2) ◽  
Author(s):  
Wei-Bin Zhang
Keyword(s):  
Growth Model ◽  
Economic Structure ◽  
Open Growth

scholarly journals BUSINESS CYCLES, GROWTH, AND IMPORTED ENERGY IN A SMALL-OPEN GROWTH MODEL

2018 ◽  
Vol 3 (2) ◽  
pp. 7-21 ◽  
Author(s):  
Wei-Bin Zhang
Keyword(s):  
Business Cycles ◽  
Growth Model ◽  
Open Economy ◽  
Small Open Economy ◽  
Economic Growth Model ◽  
Constant Coefficients ◽  
Open Growth ◽  
Two Sectors ◽  
Neoclassical Growth Theory ◽  
Neoclassical Growth

This paper generalizes an economic growth model proposed by Zhang (2017) by allowing all constant coefficients to be time-dependent. This paper shows existence of business cycles in the generalized model due to periodic shocks. Zhang’s original model is developed for a small open economy with imported energy and imported goods. The economy is composed of two sectors and all markets are perfectly competitive. The economy has fixed land and population. Production side is the same as in neoclassical growth theory, while demand side is modelling with Zhang’s utility and concept of disposable income. We generalize and simulate the model. We demonstrate existence of business cycles due to different exogenous periodic shocks.

scholarly journals Economic Restructuring, Promotion of Science - Technology and Growth Model Renovation – The case of Vietnam

2020 ◽  
Author(s):  
V.C. Nguyen
Keyword(s):  
Growth Model ◽  
Science And Technology ◽  
Economic Restructuring ◽  
Economic Structure ◽  
Middle Income ◽  
Slow Pace ◽  
Doi Moi ◽  
Science Technology ◽  
Development Levels ◽  
Growth Quality

Over 30 years since “Doi moi”, Vietnam has grown at nearly 7% on an average and become a low-middle-income economy. However, the biggest problems Vietnamse economy are facing can be named: the limitations in growth quality economy-wide productivity growth labor productivity, economic structure shifting at a slow pace, limitations in development levels of science and technology. To become a dragon, Vietnam needs to renovate growth model, attract more investment in science and technology as well as restructure the whole economy.

DO STATUS-SEEKING MOTIVES ENHANCE ECONOMIC GROWTH? A SMALL OPEN GROWTH MODEL

2016 ◽  
Vol 22 (2) ◽  
pp. 199-224 ◽  
Author(s):  
Juin-Jen Chang ◽  
Wei-Neng Wang ◽  
Ying-An Chen
Keyword(s):  
Economic Growth ◽  
Growth Model ◽  
Open Economy ◽  
Social Comparisons ◽  
Closed Economy ◽  
Growth Effects ◽  
Status Seeking ◽  
Endogenous Growth Model ◽  
Seeking Behavior ◽  
Open Growth

This paper explores the growth effects of both consumption- and wealth-induced social comparisons in a unified small open endogenous growth model. We analytically show that in an open economy not only do these two distinct status-seeking motives have very different growth effects, but these growth effects are also quite different from the conventional wisdom based on a closed economy. Status-seeking behavior need not favor economic growth. The asset portfolios of households and the imperfection of the international asset market both play an important role and jointly govern the growth effects of social status seeking. We also perform a quantitative experiment, showing that our analytical findings are robust and empirically plausible. Our analysis provides novel implications for social comparisons and new insights into the literature.

scholarly journals Twenty Years of Economic Transition in the Balkans: Transition Failures and Development Challenges

2010 ◽  
Vol 34 (2) ◽  
pp. 149-169 ◽  
Author(s):  
George Petrakos ◽  
Vassilis Monastiriotis
Keyword(s):  
Economic Crisis ◽  
Growth Model ◽  
Economic Transition ◽  
Economic Structure ◽  
Policy Issues ◽  
The Balkans ◽  
Balkan Countries ◽  
And Performance ◽  
Radical Revision ◽  
Key Aspects

AbstractThis paper seeks to review and evaluate a series of theoretical and policy issues with regards to the process of transition and European accession of the Balkan countries. We begin by reviewing some key aspects of economic structure and performance relating to the processes of transition and integration. We then examine in turn what these aspects imply for the assumptions of theory and policy concerning the speed of transition, the benefits of integration, and the process of convergence, as well as for the policy approach to transition, accession and development that was followed in the Balkans. We conclude that this stock-taking, twenty years since the advent of transition in the Balkans and at a time when the region starts to slowly recover from the effects of the global economic crisis, highlights the need for a radical revision of the growth model of the region and the design of a concrete Development Plan for its future.

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