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Using pooled cross-section, time-series data for 44 industries over the decades of the 1960s, 1970s, and 1980s in the United States, I find no econometric evidence that computer investment is positively linked to TFP growth (over and above its inclusion in the TFP measure). However,...
Persistent link: https://www.econbiz.de/10012469972
Human capital is almost always identified as a crucial ingredient for growing economies, but empirical investigations of cross-national growth have done little to clarify the dimensions of relevant human capital or any implications for policy. This paper concentrates on the importance of labor...
Persistent link: https://www.econbiz.de/10012473468
China during the four decades between 2000 and 2040. The first concerns the source of the factors which make it likely that … China will continue to grow at a high rate for another generation. The paper argues that this growth will be the result of …
Persistent link: https://www.econbiz.de/10012462930
spectacular advances of the economies of China, India, and Southeast Asia. Section 1 reviews the debate over the sources of … the new recognition among Western economists that the sustained, very rapid growth in China and Southeast Asia was …
Persistent link: https://www.econbiz.de/10012463682
. While the substantial presence of FIEs has contributed greatly to the recent export-led growth of China, an important …
Persistent link: https://www.econbiz.de/10012465274
We argue that the demographic changes caused by the one child policy (OCP) may not harm China's long-term growth. This … attributes to the higher human capital induced by the intergenerational transfer arrangement under China's poor … of schooling rather than 8.1). Our model sheds new light on the prospects of China's long-term growth by emphasizing the …
Persistent link: https://www.econbiz.de/10012459501
China's rapid growth was fueled by substantial physical capital investments applied to a large stock of medium skilled … the past decade, China has made substantial investments in producing it. The egalitarian access to medium skilled …. China's growth will be fostered by expanding access to all levels of education, reducing impediments to labor mobility, and …
Persistent link: https://www.econbiz.de/10012460559
We use data from the aggregate stock market and dividend futures to quantify how investors' expectations about economic growth evolve across horizons in response to the coronavirus outbreak and subsequent policy responses until June 2020. Dividend futures, which are claims to dividends on the...
Persistent link: https://www.econbiz.de/10012481582
While openness to trade is a well-recognized hallmark of many successful emerging market economies known as "growth miracles," another component of the growth model is a leapfrogging strategy - the use of policies to guide the industrial structural transformation ahead of a country's factor...
Persistent link: https://www.econbiz.de/10012462266
Examination of special cases assists understanding of the mechanics of long-run economic growth more generally. Australia and California are two economies having the rare distinction of achieving 150 years of sustained high and rising living standards for rapidly expanding populations. They are...
Persistent link: https://www.econbiz.de/10012470310