Proprietary capital falling into the public domain inefficiently decreases accumulation. As a consequence, market steady state consumption underperforms planner's by 4.6%–9.1% in neoclassical infinitely-lived agents economy with constant returns to scale and standard empirically supported parameters. The results extend robustly an overlapping generations economy, for which gap is 10.5% when sim...

Achieving economic development is one of the most important goals every country. Identifying determinants growth, a useful tool for adopting appropriate policies. This study, therefore, empirically examines impact trade openness, foreign direct investment, and financial on across 62 countries over period 1995–2016. These are divided into two groups: low-income high-income countries. We employ p...

This study analyses government capital and recurrent spending outlays on sectors (education, health, defense agriculture and transport and communication) believed to be critical to the growth of the economy, for the period 1980 to 2014. The Error Correction Method was adopted to analyze the short-run impact of each spending division on the prosperity of the economy. The disaggregation into capi...

This report presents the latest estimates of Hong Kong domestic health spending for financial years 1989/90 to 2008/09, cross-stratified and categorised by financing source, provider and function. Total expenditure on health (TEH) was HK$84,391 million in financial year 2008/09, which represents an increase of HK$5030 million or 6.3% over the preceding year. Amid the financial tsunami in late 2...

This paper surveys and summarises theory and evidence from recent studies into the contributions to economic growth of expenditure on education and on research and development. Investment in human capital – in the form of skills and ideas-has fundamentally different economic attributes to physical investment: exhibiting complementarity, positive feedback and non-rivalry. These attributes imply ...

This paper surveys and summarises theory and evidence from recent studies into the contributions to economic growth of expenditure on education and on research and development. Investment in human capital – in the form of skills and ideas-has fundamentally different economic attributes to physical investment: exhibiting complementarity, positive feedback and non-rivalry. These attributes imply ...

The role of ICT has evolved from a tool and utility to become a strategic asset for any organisation towards delivering business improvement and value. Furthermore, the importance of ICT-based innovation is recognized in bringing productivity improvements and sustainable competitive advantage to industry. Construction is an extremely information-intensive and knowledge-based industry. Therefore...

Holding capital is costly for banks. Nevertheless, banks have operated with (varying degrees of) excess capital over the past decade. Because under current regulatory practice there is an inverse link between bank capital and regulatory scrutiny, it is reasonable to conjecture that banks with more capital are subject to fewer regulatory restrictions. One important decision where regulatory scru...