Physical Capital

An identical two-sector productivity shock causes Rybczynski (1955) and Stolper and Samuelson (1941) effects that release leisure time and initially raise the relative price of human capital investment so as to favor it over goods production. Modified by having the household sector produce human capital investment sector, the RBC model follows the international approach of Maffezzoli (2000) and so adds a second sector relative to Jones et al. (2005). This captures key major US RBC data: output growth persistence, with hump-shaped impulse responses; hump-shaped physical capital investment impulse responses; Gali's (1999) negative impulse response of labour supply; and hours volatility.

Downloadable! Poverty in Bolivia continues to be among the highest in Latin America despite decades of concerted national and international efforts to reduce it. Bolivia has meticulously followed the recommendations of the Washington consensus at the same time as external aid ...

This paper discuss about the influx policy that should be taken by the government. Project-induced-in-migration (or influx) is the movement of people from area outside project-impacted zone to the project-impacted zone. The aim of it is to find economic opportunities and improving quality of their life. Aldi et al. (2013) stated that the influx has many negative effects especially for the social and environmental aspects in the mining project areas and its surrounding.The three main negative effect that are materialized, (i) The increasing of crime rate; (ii) the marginalization of indigenous people by the immigrant communities; and (iii) the decreasing of public health quality since the mining operation. Three important actors in development, which are the government as policy makers, the companies as capital modals, and society as the object who affected both directly or indirectly; each of them has their own role play and perception of influx. They also have own solution to cope ...

This study uses Bourdieusian (1977, 1978, 2011) approaches to reproduction to position athletic bureaucracies as legitimating institutions that convert capital. I examine how the cultural production of amateurism in U.S. college sports facilitates class reproduction by enabling a direct conversion between accrued economic, social, and physical capitals for cultural capital. I use 47 life-history interviews with college athletes to explore how college sport bureaucracies enable capital conversion by differentially regulating potential participants based upon their class background. The interviews revealed three areas of recruiting with disparate regulations: sports camps, recruiting agents, and unofficial visits. Reproduction is achieved and the class structure is maintained as middle- and upper-middle-class athletes utilize these areas of disparate regulations to translate their economic, physical, and social capital to cultural capital through college admission via athletics.

Relations based on trust among the people, from the economic point of view is called as “social capital”. It has an important role in economic well-being. In the recent years, it has been understood that it is not possible to explain the existing economic well-been by only physical capital. Consequently, especially in less developed countries, it is necessary to improve social capital which is one of the basic externalities of economic well-being.

Abstract

This paper examines the ways in which productivity in tourism businesses can be increased by studying the roles of changes in physical capital, human capital, innovation, and the competitive environment. Comprehensive results are obtained by using questionnaire-based interviews, business survey data analysis, and computable general equilibrium modeling. The results demonstrate the positive contribution that each of the productivity drivers can make to increasing efficiency and welfare, notably increases in human capital and innovation. They also indicate that a combined strategy incorporating all of the drivers is more effective than independently formulated policies. Government organizations can collaborate to assist productivity increases, with specifically tailored measures for small businesses.

Assuring food security in Uganda is a fundamental challenge that the government and development agencies face. Recent analyses indicate that some successes have been achieved, but food insecurity gaps still exist, with implications for more concerted investments in a multiplicity of community assets to achieve better results. This study assessed whether social capital is a key asset for achievement of food security in Kamuli district, southeast Uganda. More specifically, it focused on the determinants and levels of participation in food security groups. The study also explored the status, challenges and gaps of information flows in rural communities. Potential relationships between social capital and food security were also examined. Data were collected using a survey (378 randomly sampled households from six sub-counties), group discussions (21 groups) and community interviews (12 communities), and analyzed using SPSS and NVIVO. Results indicated that participation in food security...

Economists are of the view that tourism leads to economic development just like human and physical capital and exports. A few studies have discussed this issue empirically. The current study aims to estimate the long-run relationship between income from tourism and the economic growth of Pakistan by using the annual time series data of 1971–2008, and by employing the Johansen Juselius cointegration, autoregressive distributed lag model and rolling windows bounds testing approach to check the stability of the model. The results confirm the long-run relationship between income from tourism and economic growth and explain that income from tourism has led economic growth in Pakistan except in the years 2006, 2007, and 2008.

The household enterprise sector has a significant role in the Tanzanian economy. It employs a larger share of the urban labor force than wage employment, and is increasingly seen as an alternative to agriculture as a source of additional income for rural and urban households. The sector is uniquely placed within the informal sector, where it represents both conditions of

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The objective of this paper was to explain the greater or lesser growth rate of total factor productivity, TFP, in the main East Asian and Latin American economies between 1960 and 2015. We found econometric evidence favorable to this hypothesis: the increase in public consumption expenditures, given the evolution of other factors, reduces the TFP. Other results of the econometric exercise, those that are related to hypothetical positive effects of public investment and imports on TFP were not as robust or as reliable as we would have expected.

This study explored the cointegration and causality between education and economic growth in Pakistan by using time series data on real gross domestic product (RGDP), labour force, physical capital and education from 1970–1971 to 2008–2009 were used. Autoregressive Distributed Lag (ARDL) Model of Cointegration and the Augmented Granger Causality Approach given by Toda and Yamamoto (1995) were applied. Cointegration among economic growth and education has been found. The findings of this study also indicate the existence of the feedback causality between education and all levels of education with economic growth. Among all levels of education, general higher education causes economic growth highly and most significantly while the level of confidence of causing economic growth to school education is found to be the highest. Labour force as compare to physical capital appeared to be a key factor in understanding the relationship between education and economic growth. This study recommends more investment in university education so that economic growth can be further accelerated, that in turn, leads to further education and hence economic growth.

The paper contributes to understanding the impact of financial system indicators on economic growth. A particular emphasis is placed on financial structure indicators, which measure the specific organization of the financial system, namely, banking sector concentration, foreign bank penetration, government regulation and the efficiency of the banking industry - as opposed to depth indicators, which measure financial market liquidity. In this respect (1) the concentration of banks was found to have a detrimental impact on growth. However, concentration may also have indirect and positive impacts on growth depending on a countries initial stage of economic development, i.e. for comparatively more developed countries, the negative impact of concentration on long-run growth is lower. (2) Financial liquidity indicators, which work through both physical capital accumulation and total factor productivity, have a strong impact on economic growth. The catalyst role capita, finally, determine...