|
on Financial Development and Growth |
| By: | Akramov, Kamiljon T. |
| Keywords: | Economic assistance, Economic development, Economic indicators, |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:resrep:kamiljonakramov&r=fdg |
| By: | d'Agostino, Giorgio; Scarlato, Margherita |
| Abstract: | This paper investigates the theoretical and empirical foundations of the links between inclusive institutions, innovation and economic growth. Its first contribution to the literature is to provide a non-scale R&D-based growth model incorporating negative externalities linked to low institutional quality that not only affect the productivity of private and human capital, but also constrain the diffusion of existing technological knowledge. In turn, these negative externalities reduce economic growth. The second contribution of this paper is to run estimates for a sample of European Union countries. Empirical analysis based on pooled long- and short-run estimates confirms the importance of private capital and technology as instruments to increase economic growth in European countries and suggests the existence of a positive relationship between inclusive institutions, innovation and economic growth. The estimates also show that market failures linked to the degree of market competition and to the level of network interaction in the economic system significantly condition the influence of formal institutions on private capital, technology and GDP growth. |
| Keywords: | Innovation; economic growth models; institutions and growth |
| JEL: | O41 O43 O30 C23 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:43098&r=fdg |
| By: | Natacha Raffin; Thomas Seegmuller |
| Abstract: | We analyze the interplay between longevity, pollution and growth. We develop an OLG model where longevity, pollution and growth are endogenous. The authorities may provide two types of public services, public health and environmental maintenance, that participate to increase agents’ life expectancy and to sustain growth in the long term. We show that global dynamics might be featured by a high growth rate equilibrium, associated with longer life expectancy and a environmental poverty trap. We examine changes in public policies: increasing public intervention on health or environmental maintenance display opposite effects on global dynamics, i.e. on the size of the trap and on the level of the stable balanced growth path. On the contrary, each type of public policy induces a negative leverage on the long run rate of growth. |
| Keywords: | Life expectancy; Pollution; Health; Growth |
| JEL: | I15 O44 Q56 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:drm:wpaper:2012-47&r=fdg |
| By: | Spyridon Boikos (University of Milan.); Alberto Bucci (University of Milan.); Thanasis Stengos (University of Guelph.) |
| Abstract: | This paper investigates the relationship between per-capita human capital investment and the birth rate. Since the consequences of higher fertility (birth rate) on per-capita human capital accumulation (the so-called dilution effect) are not the same (in sign and magnitude) across different groups of countries with different birth rates, we analyze the growth impact of a non-linear dilution-effect. The main predictions of the model (concerning the relationship between population and economic growth rates) are then compared with those of a standard model in which the exogenous birth rate affects linearly and negatively (as postulated by most of the existing theoretical literature) human capital investment at the individual level. By using non-parametric techniques, we find evidence of strong nonlinearities in the total effect of fertility on human capital accumulation. This supports the idea that fertility plays a non-monotonic role in the accumulation of human capital and hence in the growth rate of an economy. The non-monotonic effect of fertility on human capital appears to be valid for OECD, as well as non-OECD countries according to our empirical results. |
| Keywords: | Fertility; Population Growth; Economic Growth; Human Capital Investment; Dilution Effects. |
| JEL: | O41 J13 J24 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:gue:guelph:2012-13.&r=fdg |