In this paper, I estimate the impact on aggregate labor productivity of having government, rather than private industry, produce investment goods. This policy was pursued to varying degrees by Egypt, India, Turkey, among others. The policy has a large impact because there is both a direct effect...

An estimated baseline convergence model capturing the long-term effect of human capital and physical investment on potential output for a panel of OECD countries is augmented with public investment and its components. The estimations suggest that public investment has a positive effect on...

Inefficient pricing of energy products has become common feature of governments in many oil exporting developing countries. As developing countries, this can be justified only when the increased growth results from such higher energy consumption. To this end, the study examined the direction of...

In this article, long term data is analysed for the total growth of the world economy and the growth of developed (G7) and of the rapid developing economies. The total population of BRICS and MATIK countries generate 49,16% of the the world’s population, and their economic size generates...

This study estimates and tests the endogeneity of the natural rate of growth using the balance-of-payments consistent rate of growth (BPCRG) instead of the actual rate of growth. Our approach is also theoretically compatible with the one proposed by Thirlwall (2001). Following this idea, we...

It is common with governments of many oil producing developing countries to fix the prices of energy products below their opportunity cost for welfare and redistribution purposes. This has often resulted in huge energy consumption in developing countries and the question that emerge is whether...

Inefficient pricing of energy products has become a common feature of governments in many oil exporting developing countries. As developing countries, this can be justified only when the increased growth results from higher energy consumption. To this end, the study examined the direction of...

Energy and especially electricity consumption is a variable that can be also considered as the indication of the social development as far as economic growth is concerned. Energy, as the input of the industry and other production branches, is an indication for the production increase; and also...