The role of health in economic development is analyzed via two channels: the direct labor productivity e¤ect and the indirect incentive e¤ect. The labor productivity hypothesis asserts that individuals who are healthier have higher returns to labor input. This is well tested in the empirical literature with mixed conclusions. The incentive e¤ect is borne of the theoretical literature, and indiv...

The paper examines the causal nexus between financial development, economic growth and poverty reduction in India during 1951-2008. The empirical analysis is based on cointegration and causality test. The cointegration test finds the presence of long run equilibrium relationship between financial development, economic growth and poverty reduction. The Granger causality test at the end confirms ...

Family businesses are an important factor for technological progress and high economic efficiency, determining a significant part of economic strength. At present, inside the European Monetary Union (EMU), there are efforts to reduce public debt to fulfill the criteria imposed by the Stability and Growth Pact (SGP), which are mandatory for members of the Euro zone. Due to these constraints, pub...

The Industrial Revolution decisively changed economy wide productivity growth rates. For successful economies, measured efficiency growth rates increased from close to zero to close to 1% per year in the blink of an eye, in terms of the long history of humanity, seemingly within 50 years of 1800 in England. Yet the Industrial Revolution has defied simple economic explanations or modeling. This ...

Decoupling economic growth from emissions of green-house gases is a major challenge for global sustainability. This relationship, mediated by product composition and the state of technology, is however a complex one. In this paper we examine critically the notion of an Environmental Kuznets curve relating economic growth and emissions, and assess the role of technical change operating at lower ...

The economic ramifications of the creation of a knowledge-based economy (KBE) are that it would increase the competitiveness of a country and at the same time increase its stock of knowledge for future economic innovations. Economists have now shifted their focus to the creation and diffusion of knowledge to explain the varying levels of this economic growth and development. In the last couple ...

In this, the first comprehensive one-volume survey of the economies of classical antiquity, twenty-eight chapters summarize the current state of scholarship in their specialized fields and sketch new directions for research. The approach taken is both thematic, with chapters on the underlying determinants of economic performance, and chronological, with coverage of the whole of the Greek and Ro...

"This paper, in a comparative analysis of the Philippines and Indonesia, examines first under what conditions can migration favorably contribute to the process of economic development and then to what extent can economic growth impact upon reducing emigration pressures in these labor surplus economies. The paper also argues that there is still considerable scope for putting in place [an] agreed...

The term sustainable development has been misunderstood and misinterpreted, often parodied, and even derided. Today we face the consequences of our wilful dismissal. Climate change is upon us. Had we taken sustainable development more seriously, we might have done far more to create a healthy society and environment. But unbridled economic development, predicated on unfettered use of resources,...

This paper provides an overview of the venture capital industry, and its development in Asia and Singapore. Venture capital plays an important role in innovation and economic growth. Indeed, the resurgence of the United States as a technology leader is intimately linked to the success of Silicon Valley. As Singapore enters the next phase of economic development, the creation of internal engines...