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A Contribution to The Theory of Economic Growth
Abstract
I. Introduction, 65. — II. A model of long-run growth, 66. — III. Possible growth patterns, 68. — IV. Examples, 73. — V. Behavior
of interest and wage rates, 78. — VI. Extensions, 85. — VII. Qualifications, 91.
... The notion of human capital gained momentum in the post-World War II years when economic growth began to be explained by factors other than technology and investment (Solow, 1956). Companies were thus obliged to have a larger workforce in order to adapt to change characterized by technical progress, innovation, and production complexity (Solow, 1956), hence the need for skilled workers (Arcand. ...
... The notion of human capital gained momentum in the post-World War II years when economic growth began to be explained by factors other than technology and investment (Solow, 1956). Companies were thus obliged to have a larger workforce in order to adapt to change characterized by technical progress, innovation, and production complexity (Solow, 1956), hence the need for skilled workers (Arcand. M, 2001). ...
Aim: The aim of this study is to analyse and determine the key factors influencing the decision of Moroccan nurses, health technicians and midwives to immigrate to Canada, despite the shortage of human resources suffered by the Moroccan health ministry, which could undermine the achievement of the 3rd Sustainable Development Goal, aimed at guaranteeing a healthy life and promoting well-being for all at all ages for sustainable societies. Materials and Methods: This research was based on an exploratory study carried out over 2-year period, between janvier 2022 and janvier 2024, targeting nurses health technicians, and midwives who had begun their administrative procedures with the health department to immigrate to Canada. Results: The results showed the existence of several factors that influenced the decision of these health professionals. Based on the literature, interviewees' responses were categorized into four key factors, namely, economic, occupation, organizational, and other factors. In addition, this study allowed us to demonstrate what are the predominant factors that affect the decision to emigrate to Canada health professionals, as an example of working conditions considered unfavorable, low remuneration, and especially the opportunity to practice in Canada that attracts these professionals. The results of this study illustrated several factors that influence the decision to leave health professionals to practice in Canada. Discussion: This is the first study to examine the factors influencing the departure of Moroccan healthcare professionals to practice in Canada. its results will provide a roadmap for decision-makers to implement human resources management tools and mechanisms to retain healthcare professionals, with the ultimate aim of limiting this hemorrhagia that hinders the proper functioning of the care facilities.
... If yes, in what capacity? The classical (Smith, 1776;Say, 1834, among others) and neoclassical economists (Solow, 1956) had full faith in the working of a market economy in a competitive structure with the complete absence of the government sector as it hampers economic activity. Only the private buyers and sellers will be capable of determining commodity and factor prices with no sunk cost or dead weight loss. ...
... The weak justification of neoclassical economists such as Solow (1956) on the working of cross-country convergences during the 1980s among the developed nations has influenced the new growth theoreticians such as Rebelo (1991), Lucas (1988), Romer (1994), Ramsey (1928) and Robert Barro (1990), who explained through endogenous growth models how the cross-country convergences did not work. The endogenous growth theories consider the working of increasing returns to scale where the sources of such returns to scale are research and development (the Romer Model), human capital (the Lucas Model), one-factor model (the Rebelo Model with Y = AK type production function) and good public institutions (the Barro Model). ...
The literature on growth in economics encompasses two main facets of thinking: the applicability of diminishing productivity of capital, as has been in the neoclassical growth model with exogenous technological progress, and the applicability of non-diminishing productivity of capital, as has been in the endogenous growth models. The main conclusion of the former is the cross-country convergence to a common steady state while that of the latter is non-convergence. The tremendous history of the growth of the world’s so-called developed economies in the 1980s, diverging with the so-called backward economies, has nullified the applicability of the neoclassical growth model and justified non-steady state positive per capita growth of income and consumption through endogenous technological progress in terms of knowledge capital, human capital, good public institutions, etc. The present study aims to examine whether per capita income growth is explained by the size of government intervention coupled with the working population size in the world’s top twenty countries in terms of aggregate income. With the theoretical setup of the model and using empirical tools, such as cointegration, error correction and causality in a vector autoregression structure, this study reveals that eighteen countries maintain long-run relationships among per capita income growth, government participation, population and the interaction factors between government intervention and population, excepting Germany and Canada. Further, in the short run, for eleven countries on the list, there are instances in which public institutions associated with the population and the interaction term have a causal influence on the growth of per capita income. The empirical results relating to income growth, thus, have sustainability implications.
... Furthermore, there is a need for systematic integration of theoretical frameworks into empirical analysis because existing research largely ignores their role in explaining the digitalization-trade nexus. Examples of these frameworks include the Heckscher-Ohlin theory and Neoclassical growth theory [26,54]. ...
... The need for human-led research that uses techniques such as thematic evolution and cluster analysis to offer deeper insights is highlighted by the fact that, although AI can indicate a strong link between these two domains, it frequently lacks empirical proof, contextual analysis, and a specified timescale [60]. Furthermore, AI frequently ignores important theoretical frameworks that highlight the need for human skill to construct a thorough theoretical foundation, such as the Heckscher-Ohlin theory [21] and Neoclassical growth theory [38,54]. AI can provide a quick overview of statistical models, but it is unable to cite particular research or offer comprehensive instructions. ...
Purpose
The influence of artificial intelligence (AI) on society has become a hot topic of discussion as it is being incorporated into academics and other fields. With the growing adoption of AI, this article focuses on a critical comparison between AI-driven insights and human intelligence in understanding complex issues. Specifically, it explores whether AI alone can effectively shape research agendas on the intersection of digitalization and international trade, or if human expertise remains indispensable.
Design/methodology/approach
This study employs a comparative framework, comparing AI-generated insights on digitalization and international trade (via ChatGPT) with key perspectives derived from a comprehensive review of human-generated academic literature.
Findings
The findings reveal that while AI can significantly enhance research efficiency and streamline access to information, it falls short of fully replacing human intelligence. AI proves inadequate in delivering in-depth and comprehensive evaluations, particularly in complex fields like the interplay between digitalization and international trade. The analysis underscores that while human intelligence remains sufficient for conducting rigorous research, AI serves as an efficient but ultimately insufficient tool for fully analysing the intricate dynamics of digitalization and trade.
Originality
This study uniquely investigates the comparative strengths and weaknesses of AI-generated versus human-generated insights, to evaluate the relationship between digitalization and international trade.
... On the other hand, neoclassical growth theory suggests that financial openness, through capital mobility, promotes investment and production in capital-scarce economies, accelerating their transition toward higher income levels (Solow, 1956). Similarly, the endogenous growth theory argues that financial openness facilitates innovation and technological progress through increased foreign direct investment (FDI) and access to international credit markets (Romer, 1986). ...
... Gross fixed capital formation, measured as a percentage of GDP, reflects the level of investment in infrastructure and physical assets, which are critical for boosting productivity and fostering long-term growth (Barro, 1991). Population growth captures the dynamics of labor force expansion, which can enhance production capacity, although excessive growth without adequate economic opportunities may strain resources (Solow, 1956). Inflation, measured as the annual percentage change in consumer prices, is a proxy for macroeconomic stability, as high inflation levels often correlate with economic uncertainty and diminished growth prospects (Fischer, 1993). ...
International market openness has long been regarded as critical for economic development, and recent evidence highlights the distinct roles of financial and trade openness, particularly in emerging and developing economies. This study examines the impact of financial and trade openness on economic growth in ten emerging and developing countries from 1970 to 2023. It employs a dynamic panel generalized method of moments (GMM) model, which is selected for its ability to address potential endogeneity and dynamic relationships within panel data. The analysis finds that both financial and trade openness positively influence economic growth and that stable macroeconomic conditions and political stability enhance these growth-promoting effects. In the context of growing geo-economic tensions, trade fairness, and national security concerns, the study underscores the need for policies that balance global integration with national interests. These findings suggest the importance of designing policies that promote greater integration into global financial and trading systems while ensuring sound macroeconomic fundamentals and supportive institutions. The study recommends that policymakers pursue strategic liberalization and strengthen governance structures to achieve sustained and inclusive growth.
... The neoclassical growth theory underpinning this study explains how a stable economic growth rate is achieved through the interaction of labor, capital, and technology. Solow (1956) and Swan (1956) developed and introduced the long-run growth model. Initially, the model included external population growth to determine the rate of growth; however, Solow (1957) integrated technological advancements into the model. ...
As the world transitions towards a low-carbon economy, understanding the employment implications of renewable energy growth is crucial, particularly in emerging economies like the BRICS nations, where energy demand and employment pressures are rapidly evolving. The justification for this study lies in the critical need to understand the employment effects of renewable energy growth in emerging economies, particularly in the BRICS nations, which account for a significant share of global energy demand and are poised to drive the next wave of renewable energy adoption. As these countries navigate the challenges of energy transition, employment creation, and sustainable development, this research aims to provide timely and actionable insights for policymakers, industry stakeholders, and researchers seeking to optimize the employment benefits of renewable energy growth in these regions. The purpose of this study is to investigate the impact of disaggregated renewable energy (solar, hydro, wind, nuclear, and other renewables including bioenergy) on employment dynamics in BRICS nations, so as to provide empirical evidence on the employment effects of renewable energy growth in these regions. The key findings from the study are summarized as follows: Hydro contributes positively to employment creation in BRICS nations, with FMOLS (0.78%), DOLS (2.06%), and PCSE (0.61%) results showing significant positive effects. Solar contributes positively to employment creation in BRICS nations, with FMOLS (1.99%) and DOLS (9.60%) results showing significant positive effects, although country-specific results are mixed. Economic growth contributes positively to employment creation in BRICS nations, with FMOLS (32.93%), DOLS (36.86%), and PCSE (27.68%) results showing significant positive effects. Wind contributes negatively to employment creation in BRICS nations at the aggregate level (FMOLS, −0.66%), but has positive effects in some countries (Brazil, China, Russia, and South Africa). Nuclear contributes negatively to employment creation in BRICS nations at the aggregate level (FMOLS, −0.47%; PCSE, −1.04%), but has positive effects in some countries (Russia, India, China, and South Africa). Other Renewables contribute negatively to employment creation in BRICS nations, with FMOLS (−2.57%) and PCSE (−4.77%) results showing significant negative effects. Policymakers in BRICS nations should prioritize investments in hydropower, solar power, and wind power to leverage their job creation potential and promote sustainable economic growth. Additionally, governments should implement policies to support the development of other renewable energy sources, such as bioenergy, geothermal, and tidal power, to increase their job creation potential. Furthermore, policymakers should promote economic growth through green investments and sustainable development initiatives to maximize employment creation in the renewable energy sector.
... The literature on economic growth has largely relied on the so-called monosectorial neoclassical models. For instance, the Solow growth model [51], which relies on the aggregate homogeneous production function [39,52,53]. Yet with the high sectorial heterogeneity that characterizes developing economies and the fact that during development processes, people migrate from one sector to another, the adoption of dual economy models and structural change in the growth processes is necessitated [54]. ...
This study investigates the effect of external dependency on structural change in 54 African countries between 1990 and 2021. The Two-Step System Generalized Method of Moments strategy is adopted to control for potential endogeneity problems. Findings reveal that structural change in Africa is strongly impaired by the level of external dependency. This is since all proxies of external dependency are negatively and statistically significant with all structural change proxies. For instance, under agricultural productivity, external debts stocks (EDS) give an eigen value (β) of 0.879, standard coefficient (SC) = 0.162, and p = 0.000; for external debt services (DSED), β = 0.240, SC = −0.040, and p = 0.972; and for personal remittances received (PRR), we have β = 0.764, SC = −0.133, and p = 0.031. Depicting that, the more African countries rely on the external world for change, the less they realize this change. The results remain consistent after accounting for income differences by segmenting African countries into low- and middle-income groups. As suggestions to policymakers, for structural change to concretely take place in Africa, the rate of external dependence should be limited, and resources in Africa and local methods of growth should be used rather than copying from the Western world. Though the results are valid across income groups and Africa, the case of countries could be more significant.
... The model indicates that the steady-state level of output per worker is influenced by the savings rate, the depreciation rate, and the rate of population growth. Additionally, it demonstrates that the long -term growth rate of output per worker is solely determined by the pace of technological progress [2][3][4]. ...
The sources of economic growth are a recurrent theme in economic literature. However, the full range of factors behind growth remains elusive. We are still somewhat ignorant about the forces that drive economic growth. A large part of economic growth remains unexplained through the typical analysis based on the productive factors of labor and capital. The original idea behind this research is that it moves away from the traditional analysis of economic growth and examines countries from a business perspective. If, in a company, we tend to look at the various sectors, why not look at the determinants of a country's growth in the same way? Therefore, we embrace the idea that our ignorance can be reduced if we consider countries as organizations whose performance depends on the level of their business administration areas: marketing, finance, human resources policies, information systems management, and research and development. This research aims to revisit previous works and deepen them. The methodology followed consists of improving the statistical analysis by increasing the variables used with a sample of 33 countries over a five-year period. We conclude that the approach is relevant and can explain more than 90% of the variation in per capita income.
... "Sug'urta ishi" X. O'zbekiston iqtisodiyotida tadbirkorlik subyektlarining ko'payishi va yangi texnologiyalarni joriy qilish aynan shu nazariyaga mos keladi [1]. Schumpeter tadbirkorlikni iqtisodiy rivojlanishning asosiy dvigateli sifatida ko'rib chiqadi. ...
Mazkur maqolada kichik tadbirkorlik subyektlarining tashkil etilishi va
rivojlanishi aholi farovonligini oshirish va iqtisodiy barqarorlikka erishishdagi o‘rni tahlil
qilingan. Tadqiqot doirasida aholi real umumiy daromadlari o‘sish sur’ati, ishsizlar soni
va yangi tashkil etilgan tadbirkorlik subyektlari soni o‘rtasidagi bog‘liqlik MANOVA
(ko‘p o‘zgaruvchili dispersiya tahlili) yordamida tahlil qilingan. Natijalar shuni
ko‘rsatadiki, yangi tashkil etilgan tadbirkorlik subyektlari ishsizlikni kamaytirishda
sezilarli ta’sir ko‘rsatadi va iqtisodiyotda bandlikni oshirishning samarali vositasi
hisoblanadi.
Biroq, tadbirkorlikning aholi daromadlari o‘sish sur’atiga ta’siri nisbatan past
bo‘lib, daromadlarni oshirish uchun qo‘shimcha chora-tadbirlar zarurligi qayd etilgan.
Maqolada tadbirkorlikni qo‘llab-quvvatlash va iqtisodiy islohotlarni chuqurlashtirish
bo‘yicha amaliy tavsiyalar keltirilgan. Ushbu ish kichik biznesning rivojlanishi va davlat
siyosatining ahamiyatini tasdiqlovchi dalillarni taqdim etadi.
... However, like any theory, the Harrod-Domar model has its criticisms. One of the main criticisms comes from Robert Solow (1956), who argued that the model's exclusive focus on capital accumulation overlooks other important factors, such as technological innovation and labour productivity, which are critical for sustained long-term growth. Solow suggested that without incorporating technological progress, the Harrod-Domar model risks presenting an overly simplistic view of economic development. ...
The industrial sector is widely recognized as a crucial driver of economic growth, a key solution to chronic unemployment, and an effective mechanism for wealth creation. However, the current state of Nigeria's industrial sector falls short of these expectations. Available statistics indicate that the industrial sector's contribution to Nigeria's Gross Domestic Product (GDP) has been on a downward trend, and the Manufacturers Association of Nigeria (MAN) reported a decline in industrial progress, despite the implementation of numerous policy initiatives aimed at fostering growth in the sector. This underperformance highlights a significant gap between the potential and actual impact of Nigeria's industrial sector on the country's economic development and prosperity. This paper thus examined the economic contribution of transportation modes—road, water, and air transport—to the growth of Nigeria's industrial sector using secondary data from the Central Bank of Nigeria (CBN) and applying the Autoregressive Distributed Lag (ARDL) model to establish long-run relationships between the variables. The findings revealed that road transport had a negative but significant impact on industrial growth, suggesting that poor road infrastructure, congestion, and maintenance issues increase logistics costs, negatively affecting industrial productivity. Conversely, air transport exhibited a positive and significant impact, highlighting its role in facilitating high-value, time-sensitive goods movement and international trade. Water transport also had a positive and significant effect on industrial growth, particularly in export-heavy sectors, indicating that efficient port operations and improved waterways reduce shipping costs and enhance trade competitiveness. The paper recommended that the Federal Ministry of Works and Housing, in collaboration with state governments and the private sector, prioritize road network rehabilitation and expansion. The Federal Airports Authority of Nigeria (FAAN) and Nigerian Civil Aviation Authority (NCAA) should focus on modernizing airport infrastructure, while the Nigerian Ports Authority (NPA) should address port inefficiencies and congestion to boost industrial exports. Further investments in these transportation modes are crucial for unlocking Nigeria's full industrial potential and fostering sustainable economic growth.
... The emergence of neoclassical growth theory further solidified the idea that FDI contributes to economic growth. Harrod (2015), Domar (1946), and Solow's (1956) neoclassical growth theory argue that FDI supports economic development in a manner similar to domestic investments, particularly in the short term. The endogenous growth theory, proposed by Lucas (1988), Romer (1986, 1993), and Rebelo (1991, suggests that FDI fosters economic growth by introducing advanced technologies and promoting knowledge spillovers. ...
This study investigates the impact of FDI, trade components, and inflation on India's economic growth. The research employs the Autoregressive Distributed Lag (ARDL) bounds testing technique to examine long and short-term co-integration, and the Error Correction Model (ECM) is used to analyse model of specification. The findings reveal a long-term relationship between FDI, exports, Original Research Article Singaram et al.; S. Asian J. 14 imports, inflation, and economic growth. Moreover, FDI inflows, exports, and inflation in India show a positive but insignificant effect on economic growth, while imports appear to have a negative and insignificant impact. Ultimately, the study suggests that more favorable government policies towards FDI could help stimulate a more dynamic Indian economy.
... Autores críticos dessa corrente neoclássica, reconhecem essa abordagem na literatura como sustentabilidade fraca (Alier;Jusmet, 2015;Daly, 1996;Solow, 1956), o que significa dizer que os recursos naturais não são limitantes do crescimento. Nessa corrente, os impactos ambientais causados pela produção de bens e serviços (geração de resíduos e consumo de recursos) não são considerados dentro do cálculo de custo, sendo dessa maneira 'externalidades' assumidas pelo ambiente biofísico (Alier;Jusmet, 2015;Leff, 1994;May, 2010). ...
Esta coletânea oferece um rico painel da pluralidade de
pesquisas empíricas do PRODEMA/UFPB, e fornece uma amostra
dos temas mais investigados e que vêm sendo renovados
e atualizados nos últimos anos por docentes e discentes deste
programa, ao lado de docentes da rede vinculados a instituições
parceiras de outros estados nordestinos, além de docentes que
já integraram o corpo docente do programa.
As temáticas recorrentes se entrelaçam com outras emergentes
que se inicia com pesquisas pautadas na gestão hídrica,
e se renovam com estudos sobre os rios urbanos em áreas densamente
povoadas. Temáticas emergentes como a segurança
alimentar no contexto da agricultura familiar, suscitam a pesquisa
sobre a contribuição das abelhas como agentes polinizadores
dos cultivos. Estudos sobre o clima urbano são renovados com
uso de novas metodologias para medir as variações do clima
em cidades de porte médio. A região semiárida nordestina e
seus problemas são recorrentes nas pesquisas da rede e do
subprograma da UFPB, com ênfase sobre os desmatamentos e
as áreas degradadas, sendo alvo de avaliação de uma proposta
de restauração com tecnologias inovadoras para dispersão aérea
de sementes. Já os estudos recorrentes sobre turismo, são
contemplados com a avaliação da viabilidade turística de uma
cidade do semiárido. Estudos emergentes sobre as energias renováveis
cada vez mais presentes na rede, estão representados
por uma pesquisa sobre uma empresa sucroalcooleira, trazendo
igualmente o debate sobre o desenvolvimento sustentável. A
teoria da complexidade, como abordagem fundante para pensar os problemas ambientais foi empregada para investigar a resiliência
socioecológica de populações tradicionais. Finalmente os
estudos sobre a biodiversidade muito recorrentes no PRODEMA/
UFPB, estão representados pela pesquisa que inova por fornecer
um diálogo entre biólogos e economistas na perspectiva da
valoração como instrumento para sustentabilidade.
Este conjunto de pesquisas do PRODEMA/UFPB configura
a dinâmica do estado atual de sua produção científica, que traz
novas contribuições não só para as ciências ambientais como
para um mundo melhor, de modo que recomendo uma leitura
atenta deste livro.
... Indeed, their integration into theories of growth and development is one of the most hotly debated topics. Basic growth models, such as [17], do not attempt to clarify the source of technological progress; on the contrary, they assume it to be exogenous and do not include natural capital or energy in the production function. ...
As part of the energy transition towards renewable energies, Algeria, like many other countries around the world, is seeking to use renewable energy sources to enhance its energy security by diversifying its energy mix and reducing its dependence on fossil fuels. This study aims to shed light on the potential of renewable energy in Algeria by presenting theoretical concepts about renewable energies. It will also highlight the current renewable energy projects in the country and identify future strategies and ambitious plans to encourage investments in this field. We conclude that despite many challenges, Algeria has made significant progress in its transition to renewable energy, which is characterized by a great diversity of sources. The country has already developed several solar and wind energy projects and launched initiatives to promote energy efficiency and conservation. With continued investment and policy support, Algeria has the potential to become a leader in renewable energy and achieve energy security while addressing the challenges of climate change.
... Note-se que, o crescimento econômico ao longo de um determinado período tem sido visto na literatura de desenvolvimento regional através de abordagens dicotômicas. Por um lado, encontram-se os adeptos do modelo neoclássico de crescimento econômico de Solow (1956), que postula existir uma tendência de redução nas diferenças de rendas relativas entre economias distintas ao longo do tempo. Disputam com essa visão as teorias que sugerem haver uma tendência de divergência de renda entre economias regionais distintas, sugerindo um aumento nas diferenças econômicas ao longo do tempo. ...
Este artigo têm como foco a abordagem do desenvolvimento socioeconômico da Região Nordeste do Brasil ao longo das duas primeiras décadas do século 21. O trabalho contextualiza a região, seu histórico, algumas políticas públicas atuantes e dá ênfase ao Território do Semiárido, notadamente uma sub-região de interesse devido as suas ainda frágeis bases socioeconômicas. A análise, que trabalhou com informações a nível de regiões, estados e microrregiões, buscou destacar dois quadros. O primeiro, tomando uma perspectiva mais de curto prazo, focando nos resultados em torno do período da crise brasileira de 2014. O segundo acompanha a evolução em todo o período estudado, de modo que as trajetórias de crescimento das regiões possam ser observadas. Dentre os resultados, observou-se no período uma lenta, mas significativa redução das desigualdades regionais no país, com o Nordeste (e mais ainda sua área semiárida) se mostrando mais dinâmico que o Brasil e a Região Sudeste.
... Beta and sigma convergence models were then estimated for individual diagnostic variables in former and current capitals. The concept of economic convergence (catch-up effect) derives from the neoclassical theory of growth, represented mainly by the Solow-Swan model (Solow 1956;Swan 1956), and refers to a situation where per capita income (e.g., measured by GDP per capita) in poorer countries (regions) grows faster than in rich countries (regions). In the case of Poland, the Central Statistical Office calculates GDP only up to the NUTS-3 level, meaning GDP data is available only for six cities (Warszawa, Kraków, Łódz, Wrocław, Poznań, and Szczecin). ...
On January 1, 1999, Poland implemented an administrative reform that resulted in 31 cities losing their status as voivodship capitals. This change removed a significant, and for some cities, the most important factor driving their development. Negative consequences quickly emerged, including the out-migration of qualified staff, population decline, reduced investment and economic activity, and a decrease in the income of residents. The aim of the study is to assess the changes in the economic situation of these former voivodship capitals following the reform’s implementation. Using statistical methods, convergence models, a taxonomic measure of development and the Wrocław taxonomy method the study examines the socioeconomic changes that occurred. The analysis is based on the average annual growth rates of ten selected indicators, focusing on changes in the socioeconomic situation rather than their absolute level of development. Therefore, cities ranked highest are those that developed the fastest in the analyzed period, not necessarily those with the highest level of economic development. The taxonomic measure of development shows values ranging from 0.31 to 0.65. This indicates that individual cities experienced different rates of development after the reform, but no clear leader emerged with the highest growth rate across most indicators. Similarly, no cities demonstrated consistently low growth rates across most indicators.
... Note-se que, o crescimento econômico ao longo de um determinado período tem sido visto na literatura de desenvolvimento regional através de abordagens dicotômicas. Por um lado, encontram-se os adeptos do modelo neoclássico de crescimento econômico de Solow (1956), que postula existir uma tendência de redução nas diferenças de rendas relativas entre economias distintas ao longo do tempo. Disputam com essa visão as teorias que sugerem haver uma tendência de divergência de renda entre economias regionais distintas, sugerindo um aumento nas diferenças econômicas ao longo do tempo. ...
Este é um artigo publicado em acesso aberto (Open Access) sob a licença Creative Commons Attribution, que permite uso, distribuição e reprodução em qualquer meio, sem restrições desde que o trabalho original seja corretamente citado. Resumo: Este artigo tem como objetivo a abordagem do crescimento econômico da Região Nordeste do Brasil ao longo das duas primeiras décadas do século 21. O trabalho contextualiza a Região, seu histórico, algumas po-líticas públicas atuantes e dá ênfase ao Território do Semiárido, notadamente uma sub-região de interesse devido às suas ainda frágeis bases socioeconômicas. A análise, que trabalhou com informações de regiões, estados e mi-crorregiões, buscou destacar dois quadros. O primeiro, tomando uma perspectiva mais de curto prazo, focando nas implicações regionais da crise brasileira pós-2014. O segundo acompanha a evolução em todo o período estudado, de modo que as trajetórias de crescimento das regiões possam ser observadas. Dentre os resultados, observou-se sua área semiárida) se mostrando mais dinâmico que o Brasil e a Região Sudeste. Palavras-chave: crescimento econômico; economia do Nordeste; Semiárido nordestino. Abstract: of the 21st century. The work contextualizes the region, its history, some active public policies and emphasizes the Semi-Arid Territory, notably a sub-region of interest due to its still fragile socioeconomic foundations. The analysis, which worked with information at the level of regions, states and microregions, sought to highlight two crisis of 2014. The second follows the evolution throughout the studied period, so that the growth trajectories of the was observed in the period, with the Northeast (and even more so its semi-arid area) proving to be more dynamic than Brazil and the Southeast Region.
... As outlined by Solow (1956), Swan (1956), Lucas (1988) and Romer (1990), capital, labor, human capital, and technology are important components to output and long-term growth. Moving forward the Augmented Solow model will be abbreviated as MRW (Mankiw-Romer-Weil). ...
I apply the Augmented Solow growth model with the standard estimation methods to explore dynamic and individual effects of interstate war and military spending on gross domestic product (GDP) per capita. I use panel data from 1991-2023 across 97 countries from the World Bank Indicators and Uppsala Conflict Data Program. I use predictive mean matching imputation to fill data gaps. The results suggest that military expenditure has a positive and significant effect on GDP per capita growth, but quadratic military expenditure has a negative significant effect. Interstate war intensity have no significant effect on GDP per capita growth. The interaction between interstate war intensity and military expenditure displays no significance, but quadratic military expenditure does.
... Theoretical frameworks such as Neoclassical Growth Theory emphasize FDI's role in augmenting domestic savings and driving temporary growth through capital accumulation (Solow, 1956;Barro, 1991). Endogenous Growth Theory expands on this by highlighting FDI's role in fostering innovation, human capital development, and technological spillovers (Lucas, 1988;Romer, 1990). ...
This study investigates the impact of Foreign Direct Investment (FDI) on Myanmar's economic growth from 2000 to 2020, focusing on key factors that influence FDI's effectiveness. The results show that FDI has a significant positive impact on economic growth, with human capital and political stability further enhancing its effect. However, high inflation weakens FDI's contribution, and excessive government expenditure reduces its marginal benefits. The study highlights the importance of stable governance, skilled labor development, inflation control, and efficient public spending to optimize FDI's role in fostering economic growth. This is the first study to offer these findings for Myanmar, providing valuable insights for policymakers and investors.
... As economies adopt digital technologies, they experience productivity gains, which enhances output and economic growth (Dedrick et al., 2003). The Solow growth model traditionally centred on capital and labour, has been extended to include technological progress as a key determinant of long-term growth, with digitalisation as a component (Solow, 1956). Furthermore, digitalisation can contribute to increased income through innovation, as access to digital facilities enables firms to cover more markets and innovate more effectively (Rachinger et al., 2019). ...
The advancement of digital technologies has become a transformative driver of economic development. Digitalisation is central to the global economy, enhances productivity, drives innovation, and promotes inclusive growth. Despite this potential, South Africa faces persistent challenges such as skills shortages, unemployment, poverty, and socioeconomic inequality. This study investigates the role of digitalisation in advancing economic complexity, human capital development, and gross national income in South Africa. A digitalisation index, constructed through Principal Component Analysis, ARDL models, and Granger causality analysis, provides insights into the short- and long-term impacts and causal relationship. The findings reveal that digitalisation and education significantly enhance human capital development in the long run, with digital infrastructure also driving immediate gains. For the gross national income model, digitalisation and education pose short-term pressures due to development expenditures, while institutional quality plays an important role in sustaining income. Economic complexity benefits positively from digitalisation over the long term, though short-term impacts stress the role of governance quality and infrastructure. Causality analysis further shows the interconnectedness of these variables, with digitalisation advancing economic complexity and human capital driving national income, reinforcing digitalisation. The results call for policies that align short-term developmental priorities with long-term sustainability. Investments in digital infrastructure, accessible education, and institutional frameworks are critical for building a skilled labour force while enhancing economic complexity and maintaining financial stability.
... The starting point of our analysis is the augmented version of the model of economic growth developed by Solow (1956) and expanded by authors such as Mankiw, Romer & Weil (1992) and Barro (1989) to include variables such as human capital and government consumption. To obtain a more complete estimate of the human capital on economic growth, we include both the commonly used education variable and the less frequently used health variable. ...
Researchers not only dissent on what effect corruption has on economic growth but also whether this effect holds in different institutional contexts. Some economists argue that corruption can stimulate economic growth in environments with poor governance and ineffective institutions (such as those in the Western Balkans region), while others suggest otherwise. This paper aims to investigate the relationship between perceived corruption and GDP per capita change in ten European countries from 2012 to 2021. Our goal is to examine whether non-EU Western Balkans countries, characterised by ineffective governance and underdeveloped institutions, are more or less sensitive to corruption compared to more developed European countries. To obtain robust estimates, we employ a feasible generalised least squares estimation method (GLS). Besides showing a negative effect on the full sample, our analysis confirms different intensities of corruption impact on economic growth under the two governance regimes. The research suggests that the negative effect of corruption is stronger in countries with developed institutions (EU countries). We find that the impact of corruption on economic growth in such countries amounts to up to 1.94 percent drop in GDP per capita after a one-unit rise in corruption level, while the one in non-EU WB countries stands at a maximum of 0.75 percent decrease. Compared to earlier findings, ours are characterised by the focus on Western Balkans countries, the inclusion of more recent data and a more comprehensive pre-estimation analysis.
... Standard growth models typically treat population as an exogenous variable, assuming it grows at a fixed rate. Solow's model (Solow 1956) predicts a negative relationship between population growth and per capita income. In the long run, a higher population growth rate is associated with lower steady-state per capita output. ...
This paper examines the relationship between population growth and economic growth using panel data from 111 countries over the period from 1960 to 2019. In the first stage of the analysis, we divided the sample into three groups of countries using a non-parametric method. Unlike the ad hoc decisions made in previous studies, which were based on factors such as size or economic performance, these categories were determined objectively. We conducted a Granger causality analysis on internally homogeneous groups, composed of countries with similar trajectories in population and economic growth, which are clearly distinct from one another. Our results reveal significant qualitative differences in the dynamics of population and economic growth between these groups.
... Goldsmith (1951), Kuznets (1961) y Feinstein (1972;1988) han dejado un legado indispensable para análisis posteriores que se han enfocado en numerosos países industrializados. Solow (1956) y Swan (1956), en su modelo de crecimiento económico (Solow-Swan) incorporan también el concepto de acervo de capital. Jorgenson (1990) aplicó una metodología para calcular los servicios del capital incluyendo la depreciación y los cambios en los precios del capital. ...
En esta investigación, se tiene como objetivo estimar el acervo de capital de la industria manufacturera de México, Estados Unidos y Canadá durante el período 1984-2022, instrumentándose el método de inventarios perpetuos (MIP) con el factor de ajuste (MIPA) de Almon (1999). En México, el acervo de capital mostró en estos años un crecimiento limitado, con fluctuaciones ligadas a factores económicos y políticos -sin dejar de lado la pandemia por COVID-19-, que afectaron la inversión en el sector manufacturero. Estados Unidos experimentó un crecimiento más sólido en su acervo de capital, impulsado por la digitalización y la adopción de tecnologías avanzadas, que modernizaron los procesos productivos y fortalecieron la competitividad del sector frente a crisis como la de 2008 y la pandemia de 2020. El acervo de capital en la industria manufacturera en Canadá, su tendencia en general fue a crecer, no obstante, en los años comprendidos entre la crisis financiera del 2008 y la pandemia por COVID-19, este indicador presentó un descenso significativo
... The theoretical framework of growth models presented by Solow (1956), Barro (1991), and (Mankiw, 1992) explains the effect of factors on economic growth. Today, growth theories have developed and consider structural variables and some traditional variables such as labor, capital, technology, etc. Levine and Renelt (1992) and Durlauf (2005) have added many variables for growth regression. ...
Small and medium-sized businesses (SMEs) are an essential subject of economic activity in any country because, without their participation, the development and formation of the very structure of the economy are almost impossible. The role of SMEs is significant since these businesses allow for an increase in the number of jobs, develop competition, and, as a result, improve the quality of goods, creating different price segments. More than 4 million people are employed in this sector in the Republic of Kazakhstan, and their share of GDP is 36.7%. The accelerated contribution of the SME sector to Kazakhstan’s GDP has led to the need to conduct a study in this area. This study analyzes the impact of SME production output on Kazakhstan’s economic growth by considering some macroeconomic variables using the ARDL model. The study’s findings confirm that SME output positively and significantly impacts economic growth. The government of Kazakhstan has been implementing a series of policies and incentive programs to increase the contribution of the SME sector to economic growth since the years of independence. However, SMEs are not able to reach their full potential due to various restrictions that limit their expansion. This study offers some suggestions for the development of the SME sector. In order to ensure SME concentration in the economy, investment in R&D should be a priority incentive. On the other hand, we should recognize the shadow economy problem in the country.
... • Las dotaciones de infraestructuras han de ser suficientes en volumen (manteniendo el ritmo marcado por los niveles de producción agregada), o de lo contrario, se podría limitar el crecimiento (Harrod, 1939;Solow, 1956). ...
En este trabajo se pretende revisar las tendencias recientes que han seguido las inversiones en materia de infraestructuras productivas y de su distribución funcional en la Comunidad Autónoma del País Vasco, teniendo en cuenta que la crisis financiera que aún perdura en las economías desarrolladas afecta notoriamente a la capacidad de financiación de dichas inversiones. Se intenta, en la medida de lo posible, determinar qué activos han sido los más afectados, en un sentido u otro, y cuáles son los déficits estructurales en esta materia, bajo la hipótesis de que las infraestructuras son esenciales para un territorio, en términos de desarrollo, de crecimiento, y muy especialmente, para su progreso económico y social.
... Domestic investment is crucial for sustainable economic growth, which in turn can support the accumulation of external reserves. According to the Solow Growth Model (Solow, 1956), domestic investment in physical and human capital drives long-term economic growth, which can lead to increased export capacity and foreign exchange earnings. In this context, domestic investment indirectly contributes to external reserves by enhancing a country's export competitiveness and reducing its reliance on foreign capital. ...
Understanding the dynamics between different investment types and their impact on
external reserves is crucial for Nigeria's economic stability and growth. The study
assessed the impact of different types of investment flows on Nigeria's external reserve
movements, focusing on the elasticity of substitution between domestic and foreign
investments from January 2008 to December 2023. Using data from the CBN
Statistical Bulletins and applying the ARDL Bounds Test, we explore the relationships
between external reserves, domestic investment (gross capital formation), and foreign
investments (foreign portfolio and direct investments). The results reveal that foreign
portfolio investment positively and significantly impacts long-run external reserve
accumulation, while foreign direct investment has a negative and insignificant effect.
The domestic investment, proxied by gross capital formation, has a negative yet
significant coefficient. The elasticity of substitution analysis indicates that substituting
domestic investment for foreign portfolio investment leads to an inelastic external
reserve position, while substituting foreign direct investment for domestic investment
shows a more elastic and preferable outcome.
... The versions underlying the works of Solow [9] and Swan [10] represent the neoclassical residual building blocks for any growth theory to explain how an economy grows over time due to disparate factors such as K, L, and T. Neoclassical theory states that the level of output in an economy is determined by the available amount of physical capital, an increase in this amount by an economy, thus leading to economic growth. According to neoclassical theory, growth depends most importantly on technological progress, that is, progress in information, innovation, and production, termed as total factor productivity. ...
This study examines the effects of investment in the agricultural, forestry, and fisheries sectors on Vietnam's economic growth from 1998 to 2023. It aims to provide empirical evidence to support effective policy decisions, especially regarding sustainable development in the agricultural sector. The research employs the Auto-Regressive Distributed Lagged (ARDL) model to analyze both long-term and short-term relationships. Time series data were collected from reliable sources, including Vietnam’s General Statistics Office and the World Bank. Key variables include gross domestic product (GDP), investment in the agricultural, forestry, and fisheries sectors, household consumption expenditure, and labor force participation. Diagnostic tests were conducted to ensure data stationarity and model validity. Results reveal a positive and statistically significant impact of investment in the agricultural, forestry, and fisheries sectors on GDP growth in both the long and short terms. Household consumption expenditure also demonstrates a positive relationship with economic growth, while the labor force significantly affects growth only in the short term. The Error Correction Term (ECT) indicates an adjustment speed of 77.49% to return to long-term equilibrium after short-term deviations. The findings highlight the critical role of investment in the agricultural sector in sustaining economic growth. Policymakers are encouraged to prioritize and increase investment in agriculture to achieve sustainable development goals, improve livelihoods, and enhance Vietnam’s economic stability.
... Model -We use a standard integrated assessment model, combining models of the carbon cycle (Maier-Reimer and Hasselmann, 1987), climate (Schneider and Thompson, 1981), economic growth (Solow, 1956), and impacts (Barrage and Nordhaus, 2024). ...
Preference heterogeneity massively increases the social cost of carbon. We call this the Weitzman premium. Uncertainty about an exponential discount rate implies a hyperbolic discount rate, which in the near term is equal to the average discount rate but in the long term falls to the minimum discount rate. We calibrate the pure rate of time preference and the inverse of the elasticity of intertemporal substitution of 79,273 individuals from 76 countries and compute the corresponding social cost of carbon. Compared to the social cost of carbon for average time preferences, the average social cost of carbon is 6 times as large in the base calibration, and up to 200 times as large in sensitivity analyses.
... Adoptando la teoría de crecimiento endógeno (Urbano y Guerrero, 2013y Guerrero et al., 2015, los resultados de las misiones de la universidad se vinculan con los factores productivos (véase el cuadro nº 1). Por tanto, una aproximación al impacto socioeconómico de las universidades se puede analizar a partir de su contribución en la generación, atracción y retención de capital humano (Solow, 1956), del capital conocimiento (Lucas, 1988;Romer, 1994), y/o del capital emprendedor (Audrestch y Keilbach, 2004). Más concretamente, desde una perspectiva social, Benneworth y Cunha (2015) demuestran la contribución de la universidad a través de innovaciones sociales efectivas y sustentables en las regiones donde se localizan. ...
Los cambios estructurales son procesos relevantes de transformación social y productiva derivados de acontecimientos (políticos/sociales/económicos) y/o necesidades urgentes a las que hacen frente las regiones. Para alcanzarlos se requiere el compromiso de la universidadempresa- gobierno y del emprendimiento e innovación como piezas fundamentales. En estos escenarios cabe preguntarse de qué manera las universidades definen sus estrategias orientadas a la generación-transferencia de conocimiento, su campo de actuación ante los cambios estructurales de sus regiones, y la forma en que dichas actuaciones fortalecen las palancas de transformación social y productiva. En este trabajo se reflexiona sobre las realidades y retos a los que se enfrentan las universidades ante los cambios estructurales de la Comunidad Autónoma del País Vasco. Asimismo, se presentan varias recomendaciones a los agentes involucrados.
... The determination of the number of respondents was carried out by quota sampling (Futri et al., 2022) with a total of 60 respondents with details of each of the 30 respondents for farmers who received fertilizer subsidies and 30 respondents for farmers who did not receive fertilizer subsidies. Measuring the welfare of rice farmer households through producer surplus (welfare) starts from measuring production using the Cobb-Douglas production function (Solow, 1956;Brahimi, 2022;DeCanio, 2016). Then measure the profit of rice farming through the Unit Output Price Cobb-Douglas Profit Function (UOP-CDPF) technique. ...
The objectives of this study were to analyze the impact of fertilizer subsidy policies on production, profits, and surplus of rice farmers, and to compare productivity, profits, and surplus of rice farmers. The study was conducted in Brang Rea District, West Sumbawa Regency. The respondents in this study were farmers who owned rice farmers with details of 30 farmers who received fertilizer subsidies and 30 farmers who did not receive fertilizer subsidies. Data were collected through observation, surveys, and in-depth interviews. Data were analyzed using the optimization of the Cobb-Douglas production and profit functions. The results of the study concluded that the impact of fertilizer subsidy policies on production was positive and significant, while the impact on profits was positive but not significant. There was a significant difference between productivity and capital costs or production facility costs between the group of farmers who received fertilizer subsidies and the group of farmers who did not receive fertilizer subsidies, but there was a difference in labor costs and profits but not significant. The level of farmer welfare in the group of farmers who received subsidies was higher than the group of farmers who did not receive subsidies.
The paper selectively surveys, from an Sraffian standpoint, the evolution of exogenous and endogenous neoclassical theories of growth, focusing specifically on the effects of the accumulation of capital and "knowledge" on growth rates of output and output per worker. We show that, in these theories, the assumption that growth occurs with labour being fully employed is the key reason for various analytical difficulties such as the lack of endogenous growth and the implausible "scale effects" that arise in models in which capital accumulation externalities lead to increasing returns to scale. Moreover, full employment of labour is also behind the need to assume ad hoc functional forms and specific values of parameters preventing rates of growth in endogenous growth models from going to infinite. These difficulties have led more recently to a reinterpretation of "scale effects" not as a problem, but as a positive externality of labour (instead of capital) that leads to increasing returns to scale, but not to endogenous growth. We close by mentioning further difficulties related to the Sraffian critique of capital theory and indicating an alternative Sraffian demand-led growth framework that eschews full employment.
In order to attract Foreign Direct Investment (FDI), many countries embarked on various reforms. Nepal like many South Asian Countries, took some steps and introduced measures aimed at improving the FDI regulatory framework. Nepal possesses significant economic potential, including abundant water resources, tourism industry, a skilled workforce, and rich biodiversity. Realizing this potential and achieving targeted growth requires substantial investment from both bilateral and multilateral sources, as well as active participation from the private sector. In this context, the role of FDI becomes pivotal, not only for sustaining developmental efforts but also for alleviating poverty. This study examines the key determinants of FDI commitment in construction sector in Nepal. The FDI model is specified using identified determinants of FDI and a number of variables characterizing economic, financial and environmental indicators. Augmented Dickey Fuller Test is done to gauges the stochastic of time series data of FDI commitment of construction sector in Nepal. The time series data of 25 years from 1996 to 2021 A.D. is considered in analyzing the data using regression model analysis. GDP per capita, GNI per capita, doing business index, national wholesale price index, construction material price index, infrastructure development measured by Blacked Topped Road (BTR), NEPSE index and CO2 emissions per capita are considered as independent variable in the research. The analysis of model specification revealed that GDP per capita, CO2 emissions per capita, and the NEPSE index, which serves as indicator of market stability and size, are the key determinants of FDI commitment within the construction sector in Nepal.
This study examines the interaction of green growth and environmental sustainability in Nigeria, solar-energy, hydroelectric power, bio-fuel and natural gas were used as
This paper examines the productivity slowdown by analyzing the degree, leverage, and spatial patterns of productivity improvements and spillovers in regions of France, Germany, Italy, and Spain. The analysis covers the Global Financial Crisis (2007–2012) as well as the pre-crisis (2002–2007) and post-crisis (2012–2017) periods. Using the Metafrontier Malmquist Productivity approach with robust estimators, the study conceptualizes technological shifts and diffusion networks within both endogenous and exogenous regional environments. Findings show that changes in technical efficiency have a short-term positive effect on regional growth, while technical change affects growth through initial conditions and path dependency. Regional productivity shifted from improving within-country resource allocation via endogenous factors enhancing the exogenous operating environment. However, unlocking a region’s full productivity potential depends on factors beyond its development level. Diffusion networks for efficiency and technological advancements exhibit limited dynamism and region-specific characteristics. In some cases, productivity growth in one region negatively affects neighboring regions. Spillovers from efficiency improvements occur partially among regions with closer technological proximity, especially during crises. These insights offer important policy implications for fostering regional productivity and addressing uneven development.
This chapter will offer a large number of examples of ordinary differential equations and solution techniques so that the breadth of the application of these techniques may be illustrated. Aside from being one of the pillars of mathematical modeling, these equations are useful for almost everything around us [1,2,3,4,5,6,7,8] We will also explore their applications in various fields, from modeling disease spread in epidemiology to studying the chaotic systems of chaos theory. By exploring these varied applications, we will illustrate how ordinary differential equations serve as a foundation for studying complex systems and provide insights into a wide array of phenomena, ranging from population dynamics and ecological modeling to the behavior of physical systems and the prediction of chaotic behavior. It acts as both an entry point into the material and a comprehensive overview of the practical implications of these mathematical models, with real-world applications for scientific and engineering challenges that make up the bulk of the remaining chapters.
Sir Roy F. Harrod argued that the warranted rate of growth is unstable. Professor Nobuo Okishio insisted that capitalism has the property of cumulative disequilibrium. Therefore, an aggressive reversal of the disequilibrium process should be forced to continue its reproduction. Cyclical fluctuations with alternation of economic crises and turnovers are the characteristics of a capitalist society. This study introduces a simple Keynesian saving function into a growth model with the Harrod–Okishio investment function. We show that there is a business cycle constrained by full emolument at the ceiling and zero investment at floor if the population growth rare is positive. Furthermore, if the rate of population growth is negative, there is no cycle, and the economy finally moves to zero growth of capital. Then the output decreases at the same rate of the decreasing rate of the population with under capital utilization and unemployment. If the rate of population growth is zero, then the economy finally reaches the stationary state with unemployment. In contrast, according to the neoclassical theory of growth, in the case of a negative rate of population growth, the per capita capital and the per capita output increase forever as time passes. This proposition is dependent on the postulates of full employment and no investment function.
Forestry plays an important role in the daily lives as well as livelihood earnings in the five districts representing the dryland areas of West Bengal-namely, West Midnapore, Bankura, Birbhum, Purulia and Jhargram. Even if JFM, EPC and FDC are in place, the lack of efficiency; proper planning; management; population growth-have resulted in the degradation of forestry-both qualitatively and quantitatively. Intellectual property Rights can play a crucial role in the sustainable development of forestry and the forest fringe communities. If forest related maps, literature, photographs, art and culture, indigenous tools and techniques, agricultural practices; designs of indigenous products can be brought under IPR and patented for the forest dwellings, it can do wonder in the form of generation of livelihood earning avenues.
For the case of Slovakia in a comparative evolutionary dynamic of the Visegrad Four countries in the period 2007-2021. The results of such DDM-analysis were further used as a reasoned justification for the need of ESG transformation in the context of globalization G3.0 and G4.0 within the framework of the TT model. At the same time, these results demonstrated the extremely complicated nature of a local or regional object as a complex adaptive system (CAS) subject to such ESG transformation. And in any case, such TT in the case of live CAS is similar to the external symptoms of the body, which are the result of deeper processes driven by some internal innovative driver. At the heart of such an internal innovation engine, which requires fundamentally new knowledge as a fuel for its work, is the triple integration model (TIM).
In this paper, we reconsider the Monetarist model that was formulated by Okishio (Econ Rev 30:289–299, 1979; Econ Stud Q 31:1–9, 1980) from analytical point of view. The basic model is formulated by a three-dimensional system of nonlinear differential equations, and the long run equilibrium of this system satisfies the typical Monetarist properties, namely, the ‘natural rate of employment’ is attained, and the rate of price inflation and nominal growth rate are determined by the growth rate of nominal money supply that is set by the central bank at the long run equilibrium point. However, as Okishio (Econ Rev 30:289–299, 1979; Econ Stud Q 31:1–9, 1980) correctly pointed out, the dynamic stability of the long run equilibrium point is ensured only if particular conditions for crucial parameter values are satisfied. We further prove by means of Hopf bifurcation theorem that the business cycles which entail cyclical fluctuations of the main variables occur at some range of parameter values. We also investigate the dynamic behavior of the extended model that consists of four-dimensional nonlinear differential equations. Finally, we briefly argue that the Keynesian coordinated active fiscal and monetary stabilization policies are necessary if the inactive Monetarist fiscal and monetary policies cannot ensure the dynamic stability of the macroeconomic system.
Tourism is a key driver of economic growth, yet its contributions differ significantly between developed and developing nations. This study compares these two contexts using panel data from 1995 to 2023, employing Fixed Effect and Random Effect econometric models. It examines the role of tourist expenditure, occupancy rates, governance quality, and CO₂ emissions. Unlike previous research, this work systematically bridges a gap by analysing how these factors differentially impact GDP growth. Findings reveal that infrastructure and high-income tourism are pivotal in developed nations, while governance quality and bed occupancy rates are critical in developing economies. This dual-context approach offers actionable insights for crafting tailored tourism policies that balance economic growth and sustainability, contributing to the discourse on global tourism dynamics.
El objetivo del presente libro es indagar, plantear y reflexionar sobre diversas temáticas que se abordan en el contexto económico desde las perspectivas regionales, empresariales y de negocios. En particular, se dan a conocer estudios con énfasis en la productividad, emprendimiento, competitividad, factibilidad económica y financiera, cultura empresarial y organizacional, negocios y estrategias de ventas. Con ello, se pretende contribuir en la identificación de las principales características que se manifiestan en el entorno económico regional y nacional.
The purpose of this chapter is to lay a foundation to understanding human capital. While there are several definitions of human capital, the definition of utmost utility to truly understanding human capital is the one that refers to human capital as the knowledge, skills, abilities, and other characteristics (KSAOs) of individuals that can be put to productive use and that have economic value. The concept of human capital inherently distinguishes human capital from labor also known as manual or commoditized labor. Consequently, all “labor” in the “labor” market are not the same. Human capital is that “labor” in the labor market that requires investment for it to be productive. Since economic value changes with time, context, and space, what can be regarded as human capital is therefore not static. Although the concept of human capital may have been “unthinkable” at a time in the distant past, the idea that humans have economic value is no more alien or offensive. It has become widely accepted, just like other concepts similar to human capital. This chapter explains the concept of human capital, its history, limitations, criticisms, and approaches to its study.
El gobierno de López Obrador presume el cambio en el modelo de desarrollo “neoliberal”. El objetivo de estas líneas es ofrecer un enfoque estructural para contrastar y evaluar la economía de la 4T. Se finca en tres conceptos clave que propuso un exponente destacado de la CEPAL: fuerza motriz del modelo, sector eje y contradicción fundamental. Ellos son aplicados al análisis de los modelos sustitutivo de importaciones (ISI), secundario-exportador (neoliberal) y 4T. El resultado es que el neoliberal y la 4T son similares en la fuerza motriz y la contradicción fundamental. Pero esa fuerza se ha complementado con el impulso del mercado interno en el modelo reciente. De ello, se colige que el crecimiento económico de la 4T es más equilibrado, pero también más proclive a sufrir choques de competitividad. Palabras clave Contraste estructural, Modelos de desarrollo, Cuarta transformación, Continuidades, Rupturas.
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