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Article
Publication date: 5 July 2011

Wang Hongwei and Li Ping

This paper aims to reflect the quality of Chinese economic growth and analyze its influential factors through measuring the change rate of technological progress and its…

1221

Abstract

Purpose

This paper aims to reflect the quality of Chinese economic growth and analyze its influential factors through measuring the change rate of technological progress and its contribution rate to economic growth between 1978 and 2008.

Design/methodology/approach

In this paper, an all factor productivity (AFP) method is taken. AFP is essentially a weighted sum of all input factors' productivity. Besides, general hypotheses for production function, such assumptions are not required as neutral technological progress, constant returns to scale and producer equilibrium in method of AFP. Furthermore, specific forms of production function are not needed and can be calculated directly. This method tries to relax the assumptions to make the estimated rate of technological progress closer to the reality in China.

Findings

Empirical research using the AFP method shows a contribution rate of AFP to economic growth has been significantly improved since reform and opening‐up; however, that AFP fluctuates during different periods. China's economic growth is driven by investment and mainly depends on accumulation of capital input and moderate technological progress. Generally speaking, China's change of technological progress is consistent with its economic growth and technological progress plays an important role in its economic growth. The paper concludes that it is becoming significant for China to speed up its large‐scale technological progress, strengthen indigenous innovation, accelerate human resource development, and to facilitate promotion of system reform in an in‐depth manner.

Originality/value

First, in order to ensure the accuracy measurement, and taking into account the impact of macro‐economic control policies, the rate of change of technological progress and its contribution to economic growth are measured, according to the stages of China's economic cycles. Second, the perpetual inventory method is taken to calculate the annual value of fixed asset investment, and price deflated index is used to convert fixed asset investment into comparable data of the base year, 1978. Since the data of fixed assets price index began to be released from 1992, data from 1978 to 1991 are obtained by mathematical method through extension. Third, the theoretical model of AFP is transformed into an empirical one to estimate the change rate of technological progress and its contribution to economic growth in China.

Details

Journal of Knowledge-based Innovation in China, vol. 3 no. 2
Type: Research Article
ISSN: 1756-1418

Keywords

Book part
Publication date: 30 September 2020

Léo Charles

Using an original product level database, this article analyzes the nature and dynamics of Swiss specializations during the “first globalization” (1850–1913). I study the…

Abstract

Using an original product level database, this article analyzes the nature and dynamics of Swiss specializations during the “first globalization” (1850–1913). I study the comparative advantages, as well as the evolution of the trade structure, in order to understand economic performance differences between Switzerland and France. Despite differences in terms of market size, some common trends are identified. I also argue that Switzerland's skilled labor force, along with an intelligent choice of economic policy, allowed this country to adapt its specialization structure to global demand and enjoy rapid economic growth.

Article
Publication date: 1 February 1990

Gordon Wills, Sherril H. Kennedy, John Cheese and Angela Rushton

To achieve a full understanding of the role ofmarketing from plan to profit requires a knowledgeof the basic building blocks. This textbookintroduces the key concepts in the art…

16056

Abstract

To achieve a full understanding of the role of marketing from plan to profit requires a knowledge of the basic building blocks. This textbook introduces the key concepts in the art or science of marketing to practising managers. Understanding your customers and consumers, the 4 Ps (Product, Place, Price and Promotion) provides the basic tools for effective marketing. Deploying your resources and informing your managerial decision making is dealt with in Unit VII introducing marketing intelligence, competition, budgeting and organisational issues. The logical conclusion of this effort is achieving sales and the particular techniques involved are explored in the final section.

Details

Management Decision, vol. 28 no. 2
Type: Research Article
ISSN: 0025-1747

Keywords

Abstract

Details

Histories of Economic Thought
Type: Book
ISBN: 978-0-76230-997-9

Article
Publication date: 1 March 1990

Roger J. Sandilands

Allyn Young′s lectures, as recorded by the young Nicholas Kaldor,survey the historical roots of the subject from Aristotle through to themodern neo‐classical writers. The focus…

Abstract

Allyn Young′s lectures, as recorded by the young Nicholas Kaldor, survey the historical roots of the subject from Aristotle through to the modern neo‐classical writers. The focus throughout is on the conditions making for economic progress, with stress on the institutional developments that extend and are extended by the size of the market. Organisational changes that promote the division of labour and specialisation within and between firms and industries, and which promote competition and mobility, are seen as the vital factors in growth. In the absence of new markets, inventions as such play only a minor role. The economic system is an inter‐related whole, or a living “organon”. It is from this perspective that micro‐economic relations are analysed, and this helps expose certain fallacies of composition associated with the marginal productivity theory of production and distribution. Factors are paid not because they are productive but because they are scarce. Likewise he shows why Marshallian supply and demand schedules, based on the “one thing at a time” approach, cannot adequately describe the dynamic growth properties of the system. Supply and demand cannot be simply integrated to arrive at a picture of the whole economy. These notes are complemented by eleven articles in the Encyclopaedia Britannica which were published shortly after Young′s sudden death in 1929.

Details

Journal of Economic Studies, vol. 17 no. 3/4
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 9 June 2023

Fekri Ali Shawtari, Bilal Ahmad Elsalem, Milad Abdelnabi Salem and Mohamed Eskandar Shah

The financial system plays an essential role in facilitating the intermediation process for economic growth. Policymakers stress on achieving a well-developed and regulated…

Abstract

Purpose

The financial system plays an essential role in facilitating the intermediation process for economic growth. Policymakers stress on achieving a well-developed and regulated financial system to achieve economic development and resiliency. Using data from the State of Qatar, this paper aims to examine the impact of financial development indicator on economic growth; the impact of financial development indicator on hydrocarbon and nonhydrocarbon sector; the impact of Islamic banking on hydrocarbon and nonhydrocarbon economic growth.

Design/methodology/approach

The research uses quarterly data from 2007 to 2019 and adopts autoregressive distributed lag cointegration techniques to test the long- and short-run dynamic relationship between various measures of financial development and economic growth.

Findings

The results present evidence of long-term cointegration between overall financial development indicator and economic growth. Furthermore, the authors document the existence of long-term relationship between financial development and nonhydrocarbon sector. However, there is a lack of evidence on the long-run relationship between financial development and the hydrocarbon sector. Notwithstanding, Islamic banking contributes to overall economic development, as well as to the nonhydrocarbon sector.

Practical implications

This paper offers policymakers with insights to evaluate measures to diversify the economy. It also assists decision-makers in promoting Islamic finance, particularly to the banking sector as a vital contributor to economic growth.

Originality/value

To the best of the author’s knowledge, this paper is the first to evaluate financial development and economic growth for the case of Qatar in light of recent developments in Islamic finance.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some…

87002

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

Keywords

Article
Publication date: 1 March 1985

Tomas Riha

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely…

2555

Abstract

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

Details

International Journal of Social Economics, vol. 12 no. 3/4/5
Type: Research Article
ISSN: 0306-8293

Abstract

The paper published below was prepared by Taylor Ostrander for Frank Knight’s course, Economic Theory, Economics 301, during the Fall 1933 quarter.

Details

Documents from F. Taylor Ostrander
Type: Book
ISBN: 978-0-76231-165-1

Article
Publication date: 25 September 2023

Kanan Elumalai and Anjani Kumar

This paper aims to analyze relative contribution of intensive margin (IM) and extensive margin (EM) to growth in India's agricultural exports for the period 2001 to 2020. It also…

Abstract

Purpose

This paper aims to analyze relative contribution of intensive margin (IM) and extensive margin (EM) to growth in India's agricultural exports for the period 2001 to 2020. It also analyses the determinants of IM and EMs through a standard gravity model.

Design/methodology/approach

The study uses export data from United Nations Comtrade, which is accessed through World Integrated Trade Solution (WITS) software. Data for the period 2001 to 2020 were compiled for analysis using the Harmonized System (HS) of commodity classification system at the six-digit level. This study decomposed the contribution of IM and EM in the growth of Indian agricultural trade by using Hummels and Klenow's approach. After performing the export decomposition analysis, the authors analyze the factors influencing IM and EM by using the Tobit regression model and Poisson pseudo-maximum-likelihood (PPML) method of estimation.

Findings

The EM grew at 1.24% per annum, while the intensive margin (IM) increased by 0.23%. The contribution of growth at the EM increased from 58.8% in 2001 to 70.2% in 2020. Export growth along the IM was relatively high for animal products and agricultural raw materials, while growth at the EM was an important contributor to the export growth of horticultural and processed agricultural products. There was a positive and significant effect of the free trade agreement (FTA) on export margins.

Research limitations/implications

More disaggregated commodity-specific studies on value chain analysis would provide valuable insights into the issues hindering exports and realizing the untapped export potential.

Originality/value

There is a scarcity of holistic and recent studies illustrating the role of IM and EMs in agricultural trade growth, covering a large number of commodities and geographies associated with Indian agricultural trade. The study would be helpful to the stakeholders in facilitating informed policy decisions.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-0839

Keywords

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