D uring the past few decades, national security plays a central role in the process of economic development. Also, foreign investment and trade have rapidly increased worldwide and have enhanced economic growth in developing countries. Although foreign investment and trade bring huge economic benefits, many developing countries fear that by opening up markets to competition and forei...

Due to the importance of the government size impact on economic growth, the current study investigates the impact of government size on economic growth in economies of the developed and developing countries by using a panel data approach over the period 1990-2010. The results indicate that government size has positive effect on economic growth and negative effect on per capita production growth...

We introduce publicly funded education in R&D-based economic growth theory. The framework allows us to i) incorporate a realistic process of human capital accumulation for industrialized countries, ii) reconcile R&D-based growth theory with the empirical evidence on the relationship between economic prosperity and population growth, iii) revise the policy invariance result of semi-endogenous gr...

We introduce publicly funded education into R&D-based economic growth theory. Our framework allows us to i) explicitly describe a realistic process of human capital accumulation within these types of growth models, ii) reconcile semi-endogenous growth theory with the empirical evidence on the relationship between economic development and population growth, and iii) revise the policy invariance ...

An enduring and important debate in economics concerns the effects of military spending on economic growth. It has generated a huge literature, with a variety of results and no clear consensus. The end of the Cold War led to marked reductions in military burdens and to renewed concerns on whether this was likely to lead to a ‘peace dividend’ or a ‘peace penalty’. This paper revisits the debate ...

In recent years, progress in information and communication technology (ICT) has caused many structural changes such as reorganizing of economics, globalization, and trade extension, which leads to capital flows and enhancing information availability. Moreover, ICT plays a significant role in development of each economic sector, especially during liberalization process. Growth economists predict...

Big governments lead to lower levels of short-term economic growth. But is the size of this negative effect the same in different nations? I argue that big government matters less for growth in small countries than it does in large ones, because large countries are more dependent on domestic sources of production and consumption for their economic growth than are small countries. I find support...

Achieving the Millennium Development Goals is increasingly being accepted as a major development objective in Asian and Pacific countries. In this paper, it is argued that, in order to fulfill this objective, attention needs to be paid to the nexus between achieving the Goals and economic growth. Pro-growth MDGs are as important as pro-MDG growth. Appropriate macroeconomic and sectoral policies...

One of the surprising features of modern economic growth is that economies abundant in natural resources have tended to grow slower than economies without substantial natural resources. In this paper we show that economies with a high ratio of natural resource exports to GDP in 1970 (the base year) tended to grow slowly during the subsequent 20-year period 1970-1990. This negative relationship ...