Knowledge spillovers, transboundary pollution, and growth

Trade in natural resources is construed as a dynamic game betweenNorth and South. Policies that promote growth in the North alsocause knowledge spillovers and transboundary pollution in theSouth. Cooperative and noncooperative Nash equilibria of thisstrategic trade game are simulated under various scenarios byparallel genetic algorithms to highlight the distortions inthe growth/pollution trade-off. Absent cooperation, both regionsbenefit when North simultaneously cuts waste and increases knowledgespillovers, impelling South to reciprocate by lower resourceprices.     

Exporting, R&D, and absorptive capacity in UK establishments

This paper models the determinants of exporting (both in termsof export propensity and export intensity), with a particularemphasis on the importance of absorptive capacity and the endogenouslink between exporting and undertaking R&D. Based on a mergeddataset of the 2001 Community Innovation Survey and the 2000Annual Respondents Database for the UK, our results suggestthat establishment size plays a fundamental role in explainingexporting. Meanwhile, alongside other factors, undertaking R&Dactivities and having greater absorptive capacity (for scientificknowledge, international co-operation, and organizational structure)significantly reduce entry barriers into export markets, havingcontrolled for self-selectivity into exporting. Nevertheless,conditional on entry into international markets, only greaterabsorptive capacity (associated with scientific knowledge) seemsto further boost export performance in such markets, whereasspending on R&D no longer has an impact on exporting behaviouronce we have taken into account its endogenous nature.     

Prices,incentives, and economic growth

Zusammenfassung Preise, Anreize und wirtschaftliches Wachstum. - In dem Artikel wird untersucht, wie sich politikbedingte Verzerrungen auf die Effizienz der Ressourcenallokation und das wirtschaftliche Wachstum in entwickelten, unterentwickelten und sozialistischen L?ndern auswirken. Eingriffe in die Güterm?rkte k?nnen in Form der Importprotektion, Preiskontrollen und Wettbewerbsbeschr?nkungen erfolgen. Auf den Arbeitsm?rkten verzerren die Arbeitslosenunterstützung, die Kündigungsschutzabkommen, die Sozialversicherungsleistungen und die Lohnsteuer das Arbeitsangebot, w?hrend Mindestlohngesetze und Sozialversicherungsbeitr?ge auf die Nachfrage nach Arbeit einwirken. SchlieΒlich sind Zinssatzverordnungen, K?rperschaftssteuern und Einfuhrbeschr?nkungen die haupts?chlichen Eingriffe in die Kapitalm?rkte. Nach der Betrachtung der wirtschaftlichen Wirkungen dieser Interventionen werden Vorschl?ge gemacht, wie die Verzerrungen beseitigt oder gemildert werden k?nnen.

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Résumé Prix, incitations et croissance économique. - Cet article examine les effets des distorsions imposées par la politique sur 1’ efficacité de l’allocation des ressources et sur la croissance économique dans les pays développés, développants et socialistes. Les interventions sur les marchés de biens peuvent consister de la protection d’importation, des contróles des prix et des freins á la concurrence. Parmi les distorsions sur les marchés du travail, l’allocation de chómage, la protection contre le licenciement, les prestations de sécurité sociale et les impóts sur les salaires affectent l’offre du travail pendant que le salaire minimum et des cotisations d’assurance sociale chargent la demande du travail. Finalement, les régulations des taux d’intérét, les impóts sur les sociétés, et la protection d’importation sont les interventions principales sur les marchés des capitaux. Après une revue des effets économiques de ces interventions, l’auteur donne des recommandations á éliminer ou relacher les distorsions.

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Resumen Precios, incentivos y crecimiento economico. - Este trabajo trata los efectos que tienen las distorsiones creadas por la politica económica sobre la eficiencia de la asignación de recursos y el crecimiento economico en los pafses desarrollados, en vias de desarrallo y socialistas. Las intervenciones en los mercados de bienes pueden manifestarse como restricciones a las importaciones, controles de precios y limites a la competencia. Entre las distorsiones de los mercados laborales, la compensación por desempleo, la reglamentación sobre la seguridad de las plazas de trabajo, los beneficios de la prevision social y los impuestos a los salarios afectan la oferta de trabajo, mientras que la reglamentación del salario mfnimo y los descuentos para la previsión social inciden en la demanda de trabajo. Finalmente, la regulaci?n de la tasa de interés, los impuestos a las empresas y la restriction a las importaciones constituyen las principales formas de interventión en los mercados de capital. Después de pasar revista a las consecuencias económicas de dichas intervenciones, este trabajo présenta recomendaciones para corregir o aliviar las distorsiones résultantes.

     

Education, training, and economic growth

Ashton, D. and Green, F. 1996: EDUCATION, TRAINING, AND THE GLOBAL ECONOMY. Cheltenham: Edward Elgar, £18.95 paper, £55.00 cased.

Booth, A. and Snower, J. (eds) 1996: ACQUIRING SKILLS: MARKET FAILURES, THEIR SYMPTOMS AND POLICY RESPONSES. Cambridge: Cambridge University Press, £15.95 paper, £45.00 cased.

Deakin, B. 1996: THE YOUTH LABOUR MARKET IN BRITAIN: THE ROLE OF INTERVENTION. Cambridge: Cambridge University Press, £35.00 cased.

Godfrey, M. (ed) 1997: SKILL DEVELOPMENT FOR INTERNATIONAL COMPETITIVENESS. Cheltenham: Edward Elgar, £59.95 cased.

Shackleton, J. with Clarke, L, Lange, T. and Walsh, S. 1995: TRAINING FOR EMPLOYMENT IN WESTERN EUROPE AND THE UNITED STATES. Cheltenham: Edward Elgar, £55.00 cased.     

Human capital,trade, and economic growth

Human Capital, Trade, and Economic Growth. — Human capital, because of its special role in innovative activity and technological progress, has formed the bedrock of the new theories of endogenous growth. However, it not only serves as an engine of growth but also as a productive input along with labor and physical capital. In this study, the authors find evidence of the importance of both roles of human capital. They also find that the relationship between growth and the external effects of human capital vary according to trade regime. When literacy rates are relatively high, open economies grow about 0.65 to 1.75 percentage points more than closed economies.     

Unionization,market structure,and economic growth

This article investigates the macroeconomic effects of unionization in a Schumpeterian growth model with an endogenous product market structure and a unionized labor market. The endogeneity of the market structure and the trade unionism of the labor market interact and jointly determine the equilibrium unemployment, firm size, number of firms, economic growth, and distribution of income between workers and firms. We show that unionization governs the distribution of income between workers and firms and the unemployment rate, but it does not give rise to any growth effect on the economy. In addition, unionization discourages potential entrants and hence decreases the equilibrium number of firms. These results echo the empirical observation in the sense that unionization raises unemployment and alters the distribution of income between workers and firms, but it does not give rise to a significant, real impact on the firms’ investment and the economy‐wide growth.     

Social protection,redistribution and economic growth

Social protection has conventionally been associated with redistribution and equity. This paper examines the effects of different types of social protection on economic growth. It looks at the possible effects on human capital formation, on physical investment and innovation, on the local economy and on the macroeconomy, discusses these effects in theory and reviews empirical evidence of such effects. It considers the widely varying impacts that different types of social protection can have on the distribution of incomes and on economic growth. The paper concludes that, in analysing, assessing and planning social protection, it is crucially important to consider the potential drawbacks – and the benefits.     

教育、人力资本与经济增长

本文从人力资本开发的角度对HPAES的经济增长进行了理论与计量分析,认为HPAES地区较高的人力资本水平对其经济增长起到较强的促进作用,而且政府在促进教育发展和人力资本形成的过程中扮演了重要角色.与此同时,也不能忽视HPAES地区人力资本开发现状与其经济发展要求之间还存在着一定的差距.     

Relative deprivation,time preference,and economic growth

We study the growth process among a large group of economies where consumption relative to a reference group determines the discount factor of the household agents. We characterize all possible balanced growth paths and their stability properties. The model can explain why two economies having similar production technologies, preferences, and total factor productivity growth rates can differ in labor supply behavior and have diverging growth paths depending on their initial conditions. Numerical analysis of the model suggests that growth path divergence is plausible based on cross-country differences in savings rates. History dependence on time preference also generates realistic transitional dynamics.     

Inflation, the credit market, and economic growth

This paper presents a model which predicts a negative, non-linearrelationship between the rate of inflation and rate of outputgrowth, as observed in many empirical studies. The model describesan economy in which credit market imperfections arise due toasymmetric information between lenders and borrowers. Withinthis environment, two types of lending regime are possible—arationing regime, where high and low risk borrowers are separatedby means of credit rationing, and a screening regime, whereseparation takes place through costly information acquisition.An increase in the inflation rate alters lenders' behaviourin such a way (by increasing the incidence of rationing or thelevel of costly screening, or by switching the lending regimefrom screening to rationing) that adverse growth effect of inflationis magnified. The analysis provides a basis for the empiricalfinding that growth effect of inflation may be strongest insome specific range of inflation.     

汇率、货币政策与经济增长

一、名义汇率与实际汇率我们知道,汇率的变化会对国际贸易产生直接的影响。例如,当本币贬值时,以外币表示的本国出口商品价格下降,这使本国商品在国际市场上的竞争力增强,进而促进本国的出口增长。但是这里所说的汇率变化是名义汇率的变化还是实际汇率的变化呢?对于这个问题,我     

Health investment,physical capital accumulation,and economic growth

This paper analyzes the effect of health investment, and hence of health capital, on physical capital accumulation and long-run economic growth in an extended Ramsey model with an Arrow–Romer production function and a Grossman (1972) utility function. The paper concludes that economic growth is related to both the health growth rate and the health level. While growth in health capital always facilitates economic growth, the gross effect of health level on the rate of economic growth depends on how it affects physical capital accumulation. If the negative effect of health on economic growth through its influence on physical capital accumulation is not taken into consideration, then health level has a positive effect on the rate of economic growth by improving the efficiency of labor production. However, since health investment may crowd out physical capital investment and thus influence physical capital accumulation, excessive investment in health may have a negative effect on economic growth. Empirical tests of these theoretical hypotheses using panel data from individual provinces of China produce results that are consistent with our theoretical conclusions.