This paper posits that significant changes in 19th century British recreational travel patterns resulted from a change in the manner in which tourists used entertaining stimuli in order to attain pleasure. Consumers no longer merely viewed arousing stimuli, but attempted to use them to produce...

The theory of economic growth takes little notice of what is happening on the demand side of the markets so that ever more goods and services can be sold. In order to make progress, this paper revives a classical notion in economics, the concept of wants, and re-casts it in terms of a behavioral...

In this paper it is argued that the domestic division of labor and trade is organized according to the same principle as the international division of labor and trade – the Ricardian comparative advantages. After all, the ultimate source of these comparative advantages is the individual. The...

This chapter uses data from the 1992/93 and 1997/98 Vietnam Living Standards Surveys (VLSS) to describe patterns of money transfers between households. Rapid economic growth during the 1990's did little to diminish the importance of private transfers in Vietnam. Private transfers are large and...

Presented is an evolutionary model of consumer non-durable markets, which is an extension of a previously published paper on consumer durables. The model suggests that the repurchase process is governed by preferential growth. Applying statistical methods it can be shown that in a competitive...

Purpose – The purpose of this paper is to explain the following stylized facts. First, the share of household production in total output has fallen over time as the economy has grown. Second, services as a percent of GDP have risen at the same time. Design/methodology/approach – This paper...

This paper examines the impact of gender gaps in human capital on economic growth in developing countries. Based on data from the World Bank for the 1990-2010 period and a sample of seventy-eight developing economies, we find that the growth rate of GDP per capita is dependent on gross capital...

The paper attempts to indentify the constraints to growth in Guyana using the Hausmann et al (2005) methodology. Although Guyana suffers from low domestic savings and high interest rate spreads, the paper argues that high cost of finance is a non-binding constraint on entrepreneurial activity....

Following the Hausmann, et al. (2005) methodology, we attempt to identify the constraints to growth in Pakistan. We argue that governance failure and institutional shortcomings are the heart of the matter : corruption is rampant, judicial independence is low, educational institutions do not...

The development of the small and medium enterprise sector is believed to be crucial for economic growth and poverty alleviation. Those who seek to develop the sector must consent with the general perception that small- and medium-scale enterprises are at a disadvantage compared with larger...