the production function relates total product P to the labor L, capital C, land T (terrain), and other inputs that combine to produce it. The function expresses a technological relationship. It describes the maximum output obtainable, at the existing state of technological knowledge, from given amounts of factor inputs. Put differently, a production function is simply a set of recipes or techni...

Regional knowledge capital has become one of the key factors of economic development of a nation and region, and enhanced the regional competitiveness greatly. In this paper, firstly, the connotation of the regional knowledge capital is introduced, and then the synergy model of the system between knowledge capital and regional economic growth is constructed. Secondly, the synergy of the model i...

The paper discusses China's post-reform regional economic growth imbalance relative to input disparity in technology, physical and human capital. Financial sources and types of ownership are used to construct physical capital. Technology is measured by innovation investment, and human capital is constructed from schooling years per capita. The results show that domestic bank loans and foreign-o...

The paper analyses the changes at the level of social capital (SC) in Croatia during the period of 1995 to 2003. Starting from theoretical and empirical arguments which link SC with economic growth, social development and political stability, the author uses data from two research projects carried out on representative national samples (World Values Survey – Croatia 1995 and South East European...

We contribute to the growing literature on the behavior of capital flow surges and their relationships with sudden stops and capital flow reversals. We suggest a definition of true sudden stops based on gross foreign flows that is a subset of net capital flow reversals. We find that a majority of surges end in reversals of some type and this percentage is only slightly over half for surges in n...

This paper develops a uni...ed theory for the dynamic implications of income inequality on the process of development. The proposed theory argues that the replacement of physical capital accumulation by human capital accumulation as a prime engine of economic growth has changed the qualitative impact of inequality on the process of development. In early stages of industrialization as physical c...

1 Submitted to the Second International Conference on Entrepreneurship in Transitional Times: Issues and Challenges. Moscow, 14–16 of November, 2012. enterprise (Hoskisson, Eden, Lau, & Wright, 2000). According to the 2011 Global Entrepreneurship Monitor report (Kelley, Singer, & Herrington, 2011), between 3.7% (in Slovenia) and 14.2% (in Slovakia) of the population aged 18–64 in these countrie...

This paper addresses two hot topics of the contemporary debate, social capital and economic growth. Our theoretical analysis sheds light on decisive but so far neglected issues: how does social capital accumulate over time? Which is the relationship between social capital, technical progress and economic growth in the long run? The analysis shows that the economy may be attracted by alternative...

Openness appears to have a strong impact on economic growth especially in DCs, which typically exhibit a high share of physical capital in factor income and a low share of labor. In the neoclassical growth model with partial capital mobility, physical capital's share in factor income determines the difference in the predicted convergence rates for open and closed economies. With a 60 percent sh...

The present study investigated the extent to which the economic beliefs of participants from eight nations (Austria, France, Greece, Israel, New Zealand, Singapore, Slovenia, and Turkey) co-varied with national differences in economic development and modernisation. We predicted and found that greater human capital is associated with more economic self-efficacy and economic satisfaction; less ci...