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Joseph A. Schumpeter is one of the most famous economists of the 20th century and the 'patron saint' of the finance and growth literature. We have discovered that the prevailing literature has, however, misinterpreted Schumpeter, which leads to puzzling empirical results and difficulties in...
Persistent link: https://www.econbiz.de/10013207024
In the study we focus on theoretical and practical aspects of neoclassical models of economic growth, i.e. Sollow-Swan model and Ramsey-Cass-Koopmans model and keynesian Kaldor model. We explain theory of Sollow-Swan model and calibrate parameters of the model according to economy of the Slovak...
Persistent link: https://www.econbiz.de/10010945580
Most developing and underdeveloped countries beside Sudan suffer from the low levels of income in addition to the low savings that are result from the lack of sophisticated savings channels. Hence, the investment depends on the individual's abilities on self savings, where the investment is...
Persistent link: https://www.econbiz.de/10014180024
It is being repeatedly theorized that most of Arabic countries are still have long road for development. Classified as developing countries they should be requiring improvements in their economic performance parameters and the behavior of their productive variables. However, Iraq was a unique...
Persistent link: https://www.econbiz.de/10014041531
, the high savings rate and the emphasis on education, and (iii) the historical demographic opportunity (i.e. the population …
Persistent link: https://www.econbiz.de/10014049003
From its flow tide, fueled by the Cold War, to its ebbing with the anti-growth movement and the economic crises of the early 1970s, the “growthmen” of MIT stood at the center of the dominant field in macroeconomics. The history of MIT growth economics is traced from Solow’s seminal...
Persistent link: https://www.econbiz.de/10014156253
To eradicate poverty in all its dimensions is one of the greatest challenges humanity is facing. United Nations has given 17 Sustainable Development Goals (SDGs) which are to be achieved by 2030 and the first goal is to eradicate extreme poverty. This paper seeks to find out whether India can...
Persistent link: https://www.econbiz.de/10014098192
. Advocates of different school of thought elucidate different consequence of deficit budget. Empirical researches also failed to …
Persistent link: https://www.econbiz.de/10013003564
In the 1960s and 1970s Harrod shifted the emphasis of his research in economic dynamics from the study of business cycles (instability principle) to the investigation of the growth process. As part of that, he restated his concept of the natural growth rate as an optimum welfare rate. The...
Persistent link: https://www.econbiz.de/10012965236
This paper presents a methodological discussion of two recent “endogeneity” critiques of the Kaleckian model and the concept of distribution-led growth. From a neo-Keynesian perspective, and following Kaldor (1955) and Robinson (1956), the model is criticized because it treats distribution...
Persistent link: https://www.econbiz.de/10012966834