Employing different representative approaches and modern time series methods, this study attempts to examine the prospective long-term relationship between exports and growth in Vietnam during 1975-2001. The general conclusion of the study is that, despite the fact that the export sector has been ...
Medium and long run prospects for UK growth in the aftermathof the financial crisis In this paper I argue that the financial crisis is likely to have a long term impact on the level of labour productivity in the UK while leaving the long r......
Subsequent increases in capital will result in less economic growth (the shift represented by arrow B). This is due to a diminishing marginal productivity of capital. Beyond some point, usually referred to as "steady state," the only way to achieve additionalgrowth is improving technology. Per ...
The growth in capital and labor does not explain all economic growth. Technology also significantly affects economic growth, but the quantitative effects of technology are not easily measured. Instead, technological progress is represented by the total factor productivity, which is added to increases ...
The evidence confirms the conventional the tourism led-Hypothesis, that tourism (represented by foreign exchange earnings) causes economic growth both in short and long run. The results also conforms the long run association between foreign tourist earnings and gross domestic product and the Granger ...
Based on it, the more the agricultural population migrates into urban area from rural area, the less the metropolitan electricity intensity is, and then the less the metropolitan electricity consumption will be following economic growth. In order to address the endogenous problem between electricity ...
The long run is characterized by a balanced growth path in which consumption and capital evolve at the same growth rate. We derive the relationship between long-run growth in output per labour and energy price based on the solution to the balance growth condition. 3.1. Production Assume that ...
the investment decision, and thus the optimal growth of or contraction of the firm is given by the optimal control in Figure 1. The unique positive steady state is about k∗ 0.95 for the capital stock, below which the firm would grow and above which it would be optimal for the firm ...
It is also important to note that this study focuses on dynamic agglomeration economies, i.e., the influence of the current level of economic activity on future growth. This approach is motivated by the endogenous growth literature, and in particular the work of Lucas (1988), who emphasized ...
According to this theory, a currency’s supply and demand, which are impacted by variables like interest rates, inflation forecasts, and economic growth, determine its price (Adaramola and Dada 2020). This theory states that, all else being equal, a rise in a nation’s money supply raises ...