scholarly journals Sources of Pakistan's Economic Growth

1986 ◽  
Vol 25 (4) ◽  
pp. 573-589 ◽  
Author(s):  
Nadeem A. Burney
Keyword(s):  
Economic Growth ◽  
Quantitative Study ◽  
Development Policy ◽  
Technological Progress ◽  
Institutional Factors ◽  
Growth Accounting ◽  
Productivity Change ◽  
Important Method ◽  
Factors Of Production

Economic growth is one of the most important objectives of development policy in almost every country. It depends on the historical accumulation of primary factors of production, e.g. labour and capital, and on technological progress and a combination of socio-political and institutional factors. Owing to interactions among these different factors, it is difficult to delineate the role of each factor in economic growth. It is precisely because of this that a systematic and quantitative study of the sources of growth is indispensable. The growth-accounting framework, introduced by Solow [15] to measure productivity change and subsequently extended by Jorgenson and Griliches [5], Christensen and Jorgenson [1], Hulten [4] and Denison [2], provides an important method with which to study the growth experience of a country.

Comparative Study of the Promotion of S&T to Economic and Social Development in Hubei

2012 ◽  
Vol 482-484 ◽  
pp. 2289-2292
Author(s):  
Wei Zou
Keyword(s):  
Economic Growth ◽  
Comparative Analysis ◽  
Social Development ◽  
Social System ◽  
Technological Progress ◽  
Progress Monitoring ◽  
Social Growth ◽  
National Statistics ◽  
Input And Output

Integrated progress of S&T is the important factor in the Economic and Social System. Based on the analysis of the economic and social growth and integrated progress of S&T in Hubei Province during Eleventh Five-Year, with the concept of the system and in the perspective of input and output, this paper used the national statistics and the regional scientific and technological progress monitoring indicators, put forward to the deep comparative analysis among Hubei and Guangdong, Jiangsu, Shandong, Zhejiang and Fujian provinces in the eastern on socio-economic growth, integrated progress of S&T and promotion of S&T to economic and social development, then some countermeasures how Hubei to enhance the role of S&T were put forword.

scholarly journals INSTITUTIONAL DESIGN IN THE SYSTEM OF STATE POLICY MEASURES FOR STIMULATING ECONOMIC GROWTH IN RUSSIA IN THE CONTEXT OF GEOPOLITICAL CHALLENGES

2018 ◽  
Vol 6 ◽  
pp. 510-515
Author(s):  
Elena Y. Zolochevskaya ◽  
Tatyana P. Cherkasova ◽  
Olga V. Mishurina ◽  
Yana E. Sivakova
Keyword(s):  
Economic Growth ◽  
State Policy ◽  
Institutional Design ◽  
Institutional Factors ◽  
Structural Reorganization ◽  
Institutional Barriers ◽  
Main Development ◽  
Development Institutions ◽  
Policy Measures

This article analyzes the features of three groups of institutional factors: institutional and economic, institutional and political, and institutional and social.  Influencing these factors by means of sound state policy can initiate economic growth on an innovative basis. An assessment of existing institutional barriers that act as constraints to economic growth in Russia is provided in the paper. In addition, the role of institutional design in optimizing the state policy for stimulating accelerated development and structural reorganization of the main development institutions is defined and an algorithm for implementing institutional design and its direction is proposed.

scholarly journals Institutions as the Main Determinant in Economic Growth

ETIKONOMI ◽  
2019 ◽  
Vol 18 (1) ◽  
Author(s):  
Hari Nugroho ◽  
N. Haidy Ahmad Pasay ◽  
Arie Damayanti ◽  
Maddaremmeng Andi Panennungi
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Economic Development ◽  
General Theory ◽  
Technological Progress ◽  
The Other ◽  
Institutional Factors ◽  
Main Determinant ◽  
The World ◽  
Endogenous Growth Model

The studies on human capital and technological progress have given incredible insights on how countries in the world differ from one another. Yet there are more than those two reasons to account for differences among countries. There is a third reason why a country would differ in terms of its economic development progress, namely institutional factors. Hence developing institutional indices would give a deeper explanation than a mere theory. On the other hand, we can corroborate the institutional index with the general theory that low-quality institutions will impact an economy negatively. This study seeks to broaden the understanding of causes of economic growth by incorporating institutional index into a semi-endogenous growth model and finds a relationship between that index with human capital and technological progress

Modelling the Economic Growth of an Islamic Economy

1993 ◽  
Vol 10 (4) ◽  
pp. 491-511
Author(s):  
M. Ramzan Akhtar
Keyword(s):  
Economic Growth ◽  
Good Life ◽  
Statistical Data ◽  
The State ◽  
Institutional Factors ◽  
Physical Factors ◽  
Consistent Increase

In an Islamic economy economic growth is not an end in itself, butrather a means of promoting the citizenry's good life. Growth dependsupon several factors, among them a consistent increase in the amount ofphysical goods and seMces produced over a given period of time. Thisis usually taken as an index of economic growth. Adopting the sameindex, this paper asks: What factor explains economic growth in an Islamiceconomy? For this purpose, the paper refers to the Islamic economyof Madinah, which saw substantial expansion in all directions during thereigns of the Prophet and his four immediate political successols.This paper gives an answer based on the hypothesis that both physicaland moral factors are instrumental in causing economic growth in an Islamiceconomy. This hypothesis is quite different from that of seculareconomics, which views economic growth only in terms of physical factors.Such an explanation has been found inadequate, however, as empiricalstudies on American data have shown that just over half of all outputgrowth is explained by physical factors. Denison calls the unexplainedpart "the measm of our ignorance" (Branson and Litvack 1981).Many Muslim economists have discussed the role of moral factors invarious forms (i.e., integrity, cultural will, and calls to the Muslim massesto regain their past glory). This paper, however, views the role of moralfactors in terms of the bounty of God (fadl Allah). It is argued that thisfactor influenced economic growth through both autonomous and inducedchannels operating in institutional factors (i.e., the mosque and the state)and the level of God-consciousness (taqwa) in an Islamic society.The hypothesis is examined theoretically, because statistical data forempirical analysis is not available. The paper relies on the Qur'an and the ...

Capital accumulation and growth in Hungary, 1924–2006

2011 ◽  
Vol 61 (2) ◽  
pp. 143-164 ◽  
Author(s):  
B. Leeuwen ◽  
P. Földvári
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Accumulation ◽  
Physical Capital ◽  
Volume Index ◽  
Growth Accounting ◽  
Simple Method ◽  
Long Run ◽  
Over Time

The objective of this paper is to analyse the role of both human and physical capital in economic growth in Hungary during the 20th century by extending the already available data on physical and human capital. Besides the standard measure for the volume of human capital, we develop a simple method to estimate the value of the human capital stock in Hungary between 1924 and 2006. While the volume index slowly grows over time, the value of human capital shows a decline during the late socialist period. Applying the value of human capital in a growth accounting analysis, we find that the Solow residual has no long-run effect on economic growth anymore.

Success Illgotten? The Role of Meiji Militarism in Japan's Technological Progress

1977 ◽  
Vol 37 (1) ◽  
pp. 113-135 ◽  
Author(s):  
Kozo Yamamura
Keyword(s):  
Economic Growth ◽  
Economic Analysis ◽  
Technological Progress ◽  
Technological Development ◽  
Foreign Technology ◽  
Meiji Japan ◽  
The Government

This study suggests that the militaristic orientation of the Meiji government and the wars fought against China and Russia contributed significantly to technological development in Meiji Japan (1868–1911). The roles played by the arsenals and the government-owned shipyards and factories in adopting and disseminating foreign technology are described to demonstrate their importance in the rapid Meiji industrialization. The article suggests that it is necessary to reexamine the view, primarily based on macro-economic analysis, that Meiji militarism was basically detrimental to economic growth in Japan.

scholarly journals TOURISM STATISTICS IN GEORGIA

2018 ◽  
Vol 2 (6(18)) ◽  
pp. 51-53
Author(s):  
Natalia Robitashvili
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Quantitative Study ◽  
21St Century ◽  
Tourism Development ◽  
Economic Structure ◽  
Economic Activities ◽  
High Importance ◽  
Other Information

By the beginning of the 21st century, tourism has been formed as a sustainable development branch of economics, which has established special place in global economic structure. Tourism makes significant impact on the incentive of economic growth, on creating employment places and shaping positive environment, which is positively reflected on other economic activities. The role of statistics is important in the management of economy. That is why the quantitative study of the processes and events in tourism is of high importance. Right with the help of statistic methods is the information about public lifestyle structure elements – labor and labor hours gained, processed and analyzed. Statistics can study the level, potential of tourism development by general and private methods. It can gain public services and other information. Statistics can find out unfriendly factors for tourism development, define tourism influence on the economic growth of the country and can work out recommendations for infrastructure optimization on the basis of its analysis.

scholarly journals Has Albania's Economic Development Stalled? Investigating the Role of Institutional Factors in Albania's Economic Performance

2021 ◽  
Vol 10 (4) ◽  
pp. 114
Author(s):  
Myslym Osmani ◽  
Kledi Kodra ◽  
Drini Salko
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Rule Of Law ◽  
Economic Performance ◽  
Institutional Factors ◽  
Gdp Per Capita ◽  
Relative Growth ◽  
The Rule Of Law ◽  
Per Capita

This study focuses on the institutional factors of Albania's economic development, from a comparative, dynamic, and regional European perspective. We use longitudinal data for the years 2002, 2014, and 2019 and a small selection of 13 countries in the region and some EU member states. Descriptive statistics, graphical representation, and econometric modeling are used for data analysis. The purpose of the study is to discuss, in real and comparative terms with the region and beyond, the economic growth of Albania based on the GDP per capita indicator, as well as to identify and evaluate dynamically the role of institutions in the country's development through important institutional factors, such as the effectiveness of government, rule of law, corruption, etc. The analysis shows that Albania's economic performance is weakover the last two decades. This is reflected in the insufficient relative growth of GDP per capita, the small increase in per capita income, and especially in the low increase in income for every 1% of relative growth. In these indicators, Albania continues to be consistently in the lowest positions in the region and beyond. The study highlights the strong link between economic growth and the effectiveness of government, the rule of law, and weak control over corruption. Improving corruption control by one unit in the range (-2.5 to 2.5) is expected to improve GDP per capita by an average of about 2.2 times. Improving the rule of law by one point is expected to improve GDP per capita on average by about 2.4 times. The country's sluggish economic performance is mainly attributed to weak institutions.   Received: 4 March 2021 / Accepted: 6 May 2021 / Published: 8 July 2021

Evolutionary Models in the Theory of Economic Growth

2007 ◽  
pp. 66-81 ◽  
Author(s):  
A. Krasilnikov
Keyword(s):  
Economic Growth ◽  
Technological Progress ◽  
Evolutionary Economics ◽  
Growth Theory ◽  
Technological Diffusion ◽  
Evolutionary Models ◽  
Different Types

The role of evolutionary economics in the development of economic growth theory is considered in the article. Different types of evolutionary models are distinguished, analyzed and compared with neoclassical models. Special attention is paid to the treatment of scientific and technological progress, particularly within the framework of the models of technological diffusion.

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