In this paper, we develop a model that has as main outcome the existence of a non-linear relationship between growth and level of education (human capital). This non- linearity condition accrues from empirical estimation done at international level. Moreover, this non-linearity explains the...

This paper has as objective to build a composite economic activity index for the local economy, created as form of measuring the economic activity. We use the factor analysis technique to determinate the components and their weights. This local index is then compared to national ones. As a...