Economic research and economic growth: Evidence from East Asian economies

Based upon page counts of articles published in 60 quality economics journals, the role of economic research is examined for five East Asian economies. In Hong Kong, causality runs bi-directionally between research productivity and economic growth; in Japan, the causal effects tend to be one direction from economic growth to research publications; in Korea and Taiwan, causality runs the other way around from publications to growth; and in Singapore, the causal effects are small and insignificant. Socioeconomic differences in each economy help to explain the various causal directions found.     

Higher education,employment and economic growth: Exploring the interactions

ABSTRACT

This article interrogates the impact and nature of South Africa’s post-apartheid economic growth performance through the lens of human capital investment with a particular emphasis on higher education. The South African economy has been characterised by a skills-biased trajectory, ensuring jobs for the better educated. By differentiating between tertiary and vocational training, we find that further education and training (FET) graduates are almost as likely to be employed as school leavers without higher education. We analyse the extent to which the educational attainments of labour affect the nature and trajectory of economic growth in South Africa, by estimating Olley and Pakes’ two-stage regression on a modified Cobb–Douglas production function. The results indicate that the degree cohort contributes to economic growth whilst other higher education institutions, including FET colleges, do not productively contribute to economic growth.     

经济全球化与经济物流

20世纪最后25年,信息技术创新改变了传统工业经济的技术范式,世界经济进入经济全球化。在全球经济体系中,跨国生产网络正在重构生产与流通的全新组织模式。跨国供应链所构成的全球物流网络改变了工业经济的物流组织,建构了历史上最经济的物流     

Health,education, and economic growth in China: Empirical findings and implications

This empirical analysis examines the augmented Mankiw, Romer and Weil's model which considers both health and education in human capital in the framework of Chinese economy. We consider the relationship between per capita real GDP growth and the physical capital, human capital, and health investment in the production function. Panel data models are used in the estimation based on the provincial data from 1978–2005. The empirical evidence shows that both health and education have positive significant effects on economic growth. The results also show that the interaction of health and education stock will not reduce their impact on growth and there is perhaps a trade-off between two forms of human capital investment.     

Determinants of economic growth in China: Private enterprise,education, and openness

This essay investigates the source of cross-provincial variations of economic growth in China. A statistical analysis of data on 29 provinces, municipalities, and autonomous regions from 1978 through 1989 confirms the findings in the literature of empirical studies of economic growth based upon cross-country empirical analyses, and uncovers some characteristics unique to China. We find that private and semi-private enterprises, higher education and international trade all lead to an increase in economic growth in China. We also find that high fertility, high inflation, and the presence of state-owned enterprises (SOE) reduce growth rates among the provinces. Finally, our evidence indicates that the convergence hypothesis holds in China.     

Effects of male and female education on economic growth: Some evidence from Asia

We use extreme bounds analysis (EBA) to examine the comparative growth effects of gender disaggregated and level-specific enrolment ratios in a panel of Asian economies. To test our hypotheses, we employ both endogenous and exogenous growth frameworks. The externality effects of education are positive and robust for both males and females and are relatively large and significant at primary, secondary and tertiary levels. The results are suggestive of a gender productivity gap. Asian economies can grow faster by investing more in female education.     

Pre-Industrial economic growth

Abstract

Karl Gunnar Persson has written a small book on a large subject — pre-industrial societies and technological progress.¹ For a book on economic history it is unusual, mainly because of the high level of abstraction on which it moves, but also because of some of the conclusions it reaches.     

Entrepreneurship capital and economic growth

This paper shows how and why the Solow growth accounting frameworkis useful for linking entrepreneurship capital to economic growth.The knowledge filter impedes the spillover of knowledge forcommercialization, thereby weakening the impact of knowledgeinvestments on economic growth. By serving as a conduit forknowledge spillovers, entrepreneurship is the missing link betwninvestments in new knowledge and economic growth. Entrepreneurshipis an important mechanism permeating the knowledge filter tofacilitate the spillover of knowledge and ultimately generateeconomic growth. The emergence of entrepreneurship policy topromote economic growth is interpreted as an attempt to promoteentrepreneurship capital, or the capacity of an economy to generatethe start-up and growth of new firms.     

Tax reform and economic growth

A conceptual framework and analytical scheme suggested in the present work explain the adverse effect of the tax reforms on economic growth in Russia. The author’s original classification of fiscal reforms, including the concepts of fiscal quasi-and pseudo-traps, offers a deeper insight in the specific character of the institutional change taking place in Russia. A quantitative estimate of the depressive effect of fiscal quasi-traps on national production is given.     

Total capital and economic growth

In contrast to the official estimates of gross private domestic investment and associated capital stocks prepared by the Bureau of Economic Analysis (BEA), the author presents estimates of total investment and capital, human and nonhuman, tangible and nontangible, by all sectors of the U.S. economy. Total investment is 3.1 times the BEA estimate in 1929, rising to 4.1 times in 1990. It accounts for almost half of adjusted GDP in the latter year. As hypothesized, real total capital stocks rise at about the same 2.9 percent average annual rate as real gross domestic product 1929–90, 0.1 percentage points more in the total economy and 0.2 points less in the predominant business sector. Increases in nontangible capital (mainly education, training, health, and research and development—“R&D”-) largely explain the growth in total tangible factor (capital) productivity in the whole economy. Nontangible, human capital has grown relatively faster in the business sector than in the entire economy, helping to explain its more rapid productivity advance. The author recommends that when BEA shifts to the U.N. standard system of accounts, it include nontangible and human tangible investments and capital in “satellite” accounts, as well as tangible investments for all sectors in the core accounts. This will greatly facilitate the analysis of economic growth. Presidential Address at the Thirty-Sixth Atlantic Economic Society Conference, October 7–10, 1993, Philadelphia, Pennsylvania.     

Natural resources and economic growth

Summary In this century, availability of stock-renewable resources (primarily agricultural produce) and of stock-material resources (minerals except fossil fuels) will not constitute a bottleneck for continued economic growth of the industrialized countries, though their relative prices might increase somewhat. Prospects for continued material growth depend in significant measure on the future energy situation, however. During the second half of the 1980s supply problems might become acute because of limited availability of stock-energy resources and slow development of new sources (flow energy). Government policies may lessen the impact of probable shortages (energy conservation, energy price increases, reorientation of growth). Slowing down of material growth is to be valued positively.