We consider a growth model with education, externalities and a cultural norm . We show that endogenous emergence of this cultural belief may lead to increasing the stock of human capital and accelerating national growth.The mechanism of this internalization is based on the existence of...

In this study, income and consumption expenditures, which are the reflections of the economic growth’s supply and demand facades, are analyzed. There are six basic hypothesis, which try to explain how consumer spending affected from consumers' income levels and of these the most common is...

The purpose of preliminary is to present a broad agenda of theoretical and empirical modeling about the fundamental links between the quality of governance, financial development and economic development. The main theoretical predictions and evidence are of a large importance in terms of...

Classical economics envisaged to reach the subsistence level of wages in the long term. Keynes, however, argued that it would be sticky downward wages with trade union activities. Since the 1930s, governments have begun to phase out the laws of the minimum wage to support employees' income...

We present an endogenous growth model with technological externalities emitted the presence of the foreign direct investments. We showed that the net positive impact on the growth of these investments may be if and only if the host country such as Morocco has reached a minimal level of human...

We integrate a social norm which associates status to accumulation of capital and consumption into a simple model of endogenous growth. We show that societies which place a greater weight of cultural values on stock of accumulated capital as opposed to consumption will experience fast growth....