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This paper investigates the effect of institutional quality on sustainable development.Institutional quality is assumed to determine the (perceived) risk in the face of which oil and mining firms determine their level of investment in physical and natural capital. Since these two types of...
Persistent link: https://www.econbiz.de/10011419424
-1936 from when he worked on 'A Treatise on Money' to the completion of his 'General Theory'. The forced saving notion has been …I examine John Maynard Keynes' struggle with the doctrine of the classical forced saving during the period 1924 … what led John Maynard Keynes to completely abolish ideas related to forced saving and place his emphasis on effective …
Persistent link: https://www.econbiz.de/10013076591
This encyclopedia entry examines the relationship between saving behavior in capitalist economies and their … macroeconomic performance. It first considers various accounting issues in defining "saving" and argues for the significance of … these accounting distinctions for understanding how saving affects macroeconomic activity. It then surveys theoretical and …
Persistent link: https://www.econbiz.de/10014108011
In this paper, we show that Adam Smith pointed out the existence of the Feldstein-Horioka Paradox or Puzzle and even gave an explanation for it more than 200 years before the publication of Feldstein and Horioka (1980). Smith argues that it is the pursuit of their own security that leads owners...
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-Horioka puzzle ; capital mobility ; capital flows ; saving ; investment ; Adam Smith ; invisible hand …
Persistent link: https://www.econbiz.de/10003981928
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his concept of optimum saving developed as a reaction to Ramsey's approach to capital accumulation. It is shown that …In the 1960s and 1970s Harrod shifted the emphasis of his research in economic dynamics from the study of business …, according to Harrod, the saving rate does not affect the long-run growth rate of per capita income, which is determined by …
Persistent link: https://www.econbiz.de/10011610195