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that drive economic growth. The two stages of economic development have been indicated in the growth theory of … macroeconomics and in the various “turning point” theories in development economics, including Lewis's dual economy theory, Kuznets … reveals these two stages. Using the two-stage theory of economic development, we find that the People's Republic of China …
Persistent link: https://www.econbiz.de/10012966411
This paper analyzes the theoretical finance-growth nexus in the case of developing countries. Using the Neoclassical growth framework, our contribution is threefold. First, we show that entrepreneurship is a growth-enhancing factor in both financial intermediary equilibrium and financial market...
Persistent link: https://www.econbiz.de/10013143261
This paper presents a Solow Growth Model with the labor force ruled by the logistic equation added by a constant migration rate, I. We prove the global asymptotic stability of the capital and production per capita. Considering a Cobb-Douglas production function, we show this model to have a...
Persistent link: https://www.econbiz.de/10013146308
This work examines the impact that economic growth can have on biodiversity and on the ecological dynamics that would naturally emerge in the absence of human activity. The loss of biodiversity may induce policy-makers to implement defensive actions that prevent single species from extinction....
Persistent link: https://www.econbiz.de/10014073340
This work examines the impact that economic growth can have on biodiversity and on the ecological dynamics that would naturally emerge in the absence of human activity. The loss of biodiversity may induce policy-makers to implement defensive actions that prevent single species from extinction....
Persistent link: https://www.econbiz.de/10011599727
Persistent link: https://www.econbiz.de/10002001315
Persistent link: https://www.econbiz.de/10015451880
In the context of 20th century economics, the invisible hand might be viewed as leading an economy toward an efficient equilibrium allocation of resources. In contrast, Adam Smith's idea was that the invisible hand led people to act entrepreneurially, to explore ways to allocate their resources...
Persistent link: https://www.econbiz.de/10015389889
This paper puts forth a unified theory of growth that captures a number of relevant features of countries' transitions … literature. In our theory, increasing variety of consumer goods and increasing firm size, which are the consequence of a gradual …
Persistent link: https://www.econbiz.de/10013142665
Persistent link: https://www.econbiz.de/10013556314