After 1950`s, gradually the variable of human capital was included in the economic growth analysis .Foreign trade has also provided economic growth. Among other variables, which can be effective on the economic growth, are the country's economic and political structure and history of the oil or socialist system. The aim of this study was to analyze the effect of human capital, foreign trade, ha...

Investment in R&D encourages innovation, which in turn, spurs economic growth. This paper presents a model to test whether that the number of patent applications is dependent on R&D expenditure, especially R&D expenditure in the business sector. This paper shows: 1) that a strong positive correlation exists between R&D expenditure and patent applications, 2) that R&D investment creates patent a...

The public health programme is a key instrument underpinning the development of the Community’s health strategy. Good health is key to economic growth and sustainable development. Article 152, § 1, of the Treaty states that a high level of human health protection should be ensured in the definition and implementation of all Community policies. In Article 2.3, the Programme Decision lays out tha...

Social Organizations, Violence & Modern Growth Although social institutions permeate the world in which we live, they are all but absent from our analyses of economic growth and development. This paper argues the need to mitigate this omission by demonstrating the importance of social institutions for growth and development. JEL Classification: O10, N10, N13

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This paper considers an overlapping generations model of economic growth populated by two types of individuals. Competitive types compare future consumption (i.e. wealth) with the mean. Self-sufficient types derive utility simply from their own consumption and do not compare themselves with others. I derive a condition under which the utility (happiness) of both types increases when the economy...

There is convergence of opinion that stimulating broad-based economic growth from productive-sector activity is a priority in the next phase of Vanuatu’s development. A recent study commissioned jointly by AusAID and NZAID examined some of the issues and options in supporting this objective. While the report (Bazeley and Mullen 2006) also discusses theoretical aspects of achieving equitable gro...

The institutional structure of an economy is modeled as a portfolio. This model predicts that a sample of countries with highly diversi ed institutional structures should have a lower variance of economic growth rates than a sample of countries with homogeneous institutional structures. It also predicts that growth rates over time for individual countries with highly diversi ed institutional st...

Educational corruption is a worldwide phenomenon yet its impact on economic growth is unclear. In this paper we formulate a macroeconomic model to explore the impact educational corruption may have on growth, educational attainment, and the education wage premium. We find that our model can produce a negative relationship between economic growth and educational corruption as well as a positive ...

As discussed earlier, there are no commonly accepted approaches of assessing the contribution of a given sector such as commercial aquaculture, to economic growth. Using previous studies, such as the one conducted by Timmer (1992), as a foundation, this chapter attempts to develop a framework for measuring this impact for commercial aquaculture. The assessment framework is developed in two step...