This paper is to examine the stock markets role in the capital formation in Pakistan from the period 1st January 2001 to 31st December 2008. This analytical study is based on the data collected from the secondary sources such as State Bank of Pakistan and three stock exchanges; Karachi, Lahore...

Technological progress has long been posited to be crucial in a country's economic growth. This paper argues that coordination failure in a country's new technology investment can be one of the barriers in a country's capital accumulation and economic growth. The global game established by...

Research on the elasticity of substitution between capital and labor - ó - has been proceeding for 75 years. While there is clearly a strong case for the importance of ó in the analysis of growth and other economic issues, much less agreement exists on the value of ó. This paper offers some...

The claim of globalization critics that the income gap to industrial countries is bound to widen for essentially all developing countries as a consequence of economic globalization is in conflict with empirical evidence. Economic performance differs tremendously across developing countries. We...

Germany has had an extremely low growth performance since 1995. The paper looks at the long-run reasons for this loss of economic dynamics besides German unification: These include leaving labor idle, a declining share of investment in GDP, a weaker innovative activity, an ineffective system for...

We demonstrate, using a simple two - period equilibrium model of the economy, the potential effects of extreme event occurrences - such as natural or humanitarian disasters - on economic growth over the medium - to long - term. In particular, we focus on the effect of such shocks on investment....

This study is a short note designed to underline the importance of using the theoretically required form of accumulation functions. It is now a common knowledge that a growth model must rely on non-diminishing returns to a factor of production in order to generate endogenous growth. In Lucas...

In this paper I attempt to replicate for Sweden the Corrado, Hulten and Sichel (2006) and Marrano and Haskel (2006) working papers on spending on intangible assets in the US and the UK. Based on their measurement methods the total spending on intangibles in Sweden in 2004 was 277 billion SEK or...

After a severe crisis in the early 1990s, the Swedish economy experienced a boom in productivity growth. According to economists there have been primarily three explanations for the fast productivity growth in 1995-2004: Market reforms, recovery from the crisis and the impact of information and...

In this paper, we investigate the causal link between foreign direct investment (FDI), domestic investment and economic growth in China for the period 1988-2003. Towards this purpose, a multivariate VAR system with error correction model (ECM) and the innovation accounting (variance...