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Causes of the Slow Rate of Economic Growth in the United Kingdom

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    ABSTRACT: In an empirical investigation of the interactions between industrial structure and macro outcomes, an accounting framework was applied to relate changes in sectoral employment and output compositions to changes in overall productivity growth over time. The numerical results were interpreted using a taxonomy describing industrialisation and deindustrialisation in developing countries. The findings suggest that, in particular, industrial performance correlates with the overall performance of an economy, and therefore is the key sector in explaining the sustainability of different regional patterns in overall productivity and employment growth. That is, negative rates of productivity growth in the industrial sector are strongly associated with negative productivity growth for the economy as a whole, and vice versa. Further, slow industrial growth may lead to low road development, in which productivity growth trades off with employment growth, while high road development is defined as simultaneously expanding employment and overall productivity growth.
    The Journal of Development Studies. 11/2007; 36(4):66-99.
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    ABSTRACT: Paul Krugman's contribution in the development of "new" trade theory pushed the profession beyond the overly simplistic assumption of perfect competition. Since then, new trade theory has tended to be integrated and reconciled with traditional trade theory, undermining its deployment in support of successful strategic trade policy intervention.
    Economic and political weekly 01/2008; 43(49):29-31.
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    ABSTRACT: O objetivo desse artigo é discutir a importância do conhecimento, tanto tácito como codificado, para a formação do estado de expectativas de longo prazo que orienta as decisões das firmas quanto à busca de inovações e ao investimento em P&D. O artigo toma a teoria Pós-Keynesiana como referência, associando-a à análise Neo-Schumpeteriana da inovação. Primeiro, argumenta-se que o conhecimento desempenha um papel crucial na elevação da confiança dos agentes, enfatizando que as abordagens Pós-Keynesiana e Neo-Schumpeteriana são complementares, uma vez que a primeira coloca maior ênfase no conhecimento tácito e a segunda coloca maior ênfase no conhecimento codificado. Segundo, argumenta-se que que a acumulação de conhecimento e a constante introdução de inovações contribuem para a criação de uma convenção a inovar, a qual facilita a decisão de busca de inovações ao influenciar as expectativas de longo prazo.
    EconomiA. 05/2014;