Economic growth

every good has some friend and is enemy to some factor. Further the non-traded good is both consumed and used as input in production and the unskilled wage in some sectors is indexed to the commodity prices.The former fact removes clear division of economic resources between commodities/goods and factors which is critical for the last result to hold. The latter one rules out complete determination of changes in factor rewards by the supply side alone. Thus, we can use generalization of the Stolper-Samuelson

empirical literature on the relationship between debt relief and pro-poor spending (Allen and Weinhold, 2000, Chauvin and Kraay, 2005, Dessy and Vencatachellum, 2007). Moreover, it is worth stressing that this paper does not address the economic rationale behind such focus on social expenditures in HIPC initiatives. A large amount of literature has questioned whether increasing social expenditures is indeed an efficient tool for poverty reduction (Paternostro, 2005). It has also

What is wrong with the ‘Official History of Capitalism’? Capitalism is an economic system that is very controversial in terms of Economic Development, especially for third world countries. For the author, the ‘official History of capitalism’ refers to the way most economists perceive the economic history of rich countries. According to him, there are many errors in their versions however; they succeeded in redefine the history. Given the fact, that on the one hand, most neoclassical economists

In order to develop the economic and financial climate and help your planning committee to choose a location where you'll can set up a new factory, we decided to present you the evolution of the unemployment rate from 1980 to August 2010 as you can see on this graph. We think that economic data underlines one of the main problems in which a company has to think before to set up a new factory. These informations come from a national institute for statistics and economics studies in Norway. We

6% as compared to 2007). In the enterprise sector in 2008, 5 392 thous. persons were employed, an increase, compared to the previous year, of 4.8%. 48.0%, of all employed in the enterprise sector is employed in industry. This sector recorded a growth in employment by 3.1% in 2008 as compared to 2007. Nearly one person out of five is employed in the trade and repairs sector; in comparison to the year 2007 the number of people employed in this field grew by 8.2%. The year 2008 showed a continuation

Money laundering is a generic term used to describe any process that conceals the origin or derivation of the proceeds of crime so that the proceeds appear to be derived from a legitimate source. Money laundering is sometimes wrongly regarded as an activity that is associated only with organised crime and drug trafficking. It is not. It occurs whenever any person deals with another person's direct or indirect benefit from crime. The term ‘money laundering’ is in fact a misnomer. Often it is

Comparative uses of metaphors in discourses on Chinese economic growth China has emerged in the last decades from a closed economy, to an open economy experiencing very high economic growth. Indeed, based on the date of the World Bank, since 1980, the gross domestic product of China grow of about 2500%, while on the same time, the American one only about 400%. This very fast economic growth allowed China to be today the second economic power after the United States and in front of Japan, with

The poverty trap with high fertility rates Noriyoshi Hemmi Faculty of Economics, HOKKAI GAKUEN UNIVERSITY Abstract The aim of this paper is to clarify the causes of the poverty trap resulting from a negative correlation between income and fertility, in a manner that is consistent with the data across and within countries. This paper points out that a higher fertility rate is the cause of the poverty trap, because of its educational cost aspect. For useful comments and suggestions, I am indebted

What is a Keynesian Growth Model? Keynes’ model and Keynesian models were developed to explains business cycles: a short run phenomena As such they attribute a major role to aggregate expenditures (demand side) Regarding the supply side, they assume that there is unemployment: production responds fast to increases in aggregate demand because capital and labor is unemployed. Factors presents in Keynesian’s growth model Aggregate Demand, AD – AD = C + I + G + X-M – C, Consumption expenditures

Journal of Mathematical Economics 46 (2010) 326–331 Contents lists available at ScienceDirect Journal of Mathematical Economics journal homepage: www.elsevier.com/locate/jmateco Efficient, Pareto-improving processes Kwan Koo Yun Economics Department, SUNY at Albany, Albany, NY 12222, United States a r t i c l e i n f o a b s t r a c t We give two optimization programs for determining whether Pareto improving local changes are possible. When they are, the programs compute them