We consider the long-run growth rate of the average value of a random multiplicative processxi+ 1=aixiwhere the multipliers\\documentclass[12pt]{minimal}\\begin{document}$a_i=1+ho \\exp (\\sigma W_i - \\frac{1}{2}\\sigma ^2 t_i)$\\end{document}ai=1+ρexp(σWi12σ2ti)...
Rao B B, Tamazian A and Singh R (2010) "What is the Long Run Growth Rate of the East Asian Tigers?" Applied Economics Letters, 17, 1205-1208.Rao, bhaskara B., Artur Tamazian and Rup Singh (2010), "What is the long run growth rate of the East Asian Tigers." EERI (Economics ...
Lifting the long run growth rate is, arguably, the pursuit of every economy. Since there are a number of policies designed to promote productivity growth and stability in Kenya, it is important to ask: which is best and how good is it in enhancing the long run growth rate? It is obvious...
CHAPTER18:Long-RunGrowth Long-RunGrowth •Economicgrowthreferstoanincreaseinthetotaloutputofaneconomy.DefinedbysomeeconomistsasanincreaseofrealGDPpercapita.©2004PrenticeHallBusinessPublishing PrinciplesofEconomics,7/e KarlCase,RayFair 2of40 CHAPTER18:Long-RunGrowth Long-RunGrowth •Moderneconomicgrowthis...
The purpose of this paper is to provide a long-run growth model linking growth to income distribution between lenders and borrowers in an environment where enforcement of loan contracts is imperfect. The equilibrium under costly verification implies a smaller growth rate, relative to the symmetric-...
Kazakhstan's economy has performed very well for almost the past decade – growing on an average annual growth rate of 9%. Furthermore, over this period there has been rapid increase in production in all the sectors of the economy. Can this economy continue to grow at such a high growth ...
We find evidence that the ratio of imported to domestic capital goods, that is, the composition of investment, as well as the capital accumulation (both physical and human), was key determinants of the long-run growth rate of per capita GDP over the analyzed period. Furthermore, our results...
Government expenditure, taxation and long-run growth long-run growth rate through their effects on household's labor-leisure choice,consumption-saving choice,and the proportion of public productive expenditure ... C Yan,L Gong - 《Economic Research Journal》 被引量: 85发表: 2009年 The composition...
1.Since reform and opening-up of 1978, China has maintained a high-speed long-term economic growth at the average annual growth rate of 9.36%的年均增长速度保持了高速的长期经济增长。 4)growth of the economy经济增长期 5)expected economic growth rate预期经济增长率 6)short-run economic growth短期...
Second, the demand-led actual rate of growth influences both the accumulation and productivity of factor inputs, and hence the economy's potential rate of growth.Mark SetterfieldDepartment of EconomicsReview of Political EconomySetterfiled, M. (2003). Supply and demand in the theory of long-run...