Long run economic growth goes along with structural change. Recent work has identified explanatory factors on the demand side (non-homothetic preferences) and on the supply-side, in particular differential productivity growth across sectors and differences in factor proportions and capital...

The Cobb-Douglas production function (henceforth, "CDPF") is a widespread and useful tool in growth theory. However, the empirical evidence regarding the adequacy of the (aggregate) CDPF has been discussed controversially. By using an axiomatic/geometrical approach, we show that sector-level...

There is growing interest in multi-sector models that combine aggregate balanced growth, consistent with the well-known Kaldor facts, with systematic changes in the sectoral allocation of resources, consistent with the Kuznets facts. Although variations in the income elasticity of demand across...

This paper constructs an economic growth model featuring both developed and underdeveloped regions to examine the effects of inter-regional labor migration on both regional population structures and regional economic disparities. As part of the natural growth of the labor force in the two types...

In this paper, we discuss the models of continuous dynamics on the 2-simplex that arise when different qualitative restrictions are imposed on the (continuous) functions that generate the dynamics on the 2-simplex. We consider three types of qualitative restrictions: inequality (or...

This study investigates the impact of Nigerian government expenditure (disaggregated into capital and recurrent) on economic growth using time series data for the period 1970-2019. The paper employs Autoregressive Distributed Lag (ARDL) model. To ensure robustness of results, the study accounts...

We analyze the impact of increasing longevity on technological progress within an R&D-based endogenous growth framework and test the model's implications on OECD data from 1960 to 2011. The central hypothesis derived in the theoretical part is that — by raising the incentives of households to...

The crisis in Turkish economy in the later 1970's brought along the enforcement of the stability and structural adjustment policies as of 1980 and more liberal regime policies. These events led to the serious increase of industrialization in Turkey after 1980. The impact of industry on the...

Mankind must cooperate to reduce GHG emissions to prevent a catastrophic rise in global temperature. How can the necessary costs of reducing GHG emissions be allocated across regions of the world, within the next few generations, and simultaneously address growth expectations and economic...

This paper provides a unified theory of the economic and demographic transition. Individuals make optimal decisions about fertility, education of their children and the type and intensity of the investments in their own education. These decisions are affected by different dimensions of mortality...