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The new growth literature in general is very optimistic about the positive impact that human capital has on the economic growth of countries. Based on this argument, the current paper focusses to investigate the impact of different types of human capital on economic growth.

The paper utilizes data for the period 1998 to 2017 and employs suitable econometric techniques.

It is found that it is not the stock of human capital rather its utilization in terms of average working hours that matters for higher growth. Other than human capital, trade openness and investment are positively associated with growth. On the other hand, inflation has an insignificant impact while employment level has a negative impact on growth. Moreover, for developing countries, the study also revealed that stock of human capital has negatively and average working hours has positively impacted economic growth. Finally, domestic investment and employment level appeared to be the main growth determinants in developing countries.

Policymakers are suggested to ensure the maximum utilization of working hours, trade openness and domestic investment in improving economic growth in OECD countries.

This study has visualized the impact of human capital on economic growth from a new perspective and hence would be useful for policymakers.

The purpose of this paper is to identify and discuss the key policy challenges for OECD countries both at macro and micro level to develop and use their intellectual assets in order to obtain economic returns.

The paper takes the approach of econometrics studies to gauge the impact of intellectual assets on national accounts and a stocktake of all existing initiatives, frameworks and guidelines relating to extra‐financial corporate reporting on intellectual assets.

The paper provides macro data on the contribution of investments in intellectual assets to productivity and economic growth in OECD countries and presents the challenges in terms of corporate reporting and corporate governance that result from the increasing importance of intellectual assets for growth and competitiveness. It then provides a stock‐take of existing guidelines and frameworks in OECD countries that encourage companies to report on their intellectual assets and their strategies to create value.

The paper provides policy recommendations to better understand the role of intellectual assets, improve their contribution to economic growth, and to enhance information on intellectual assets and the diffusion of good practices.

The value of the paper is that it contributes to mitigating the difficulties to assess the contribution of intellectual assets on national accounts that is crucial to obtain an accurate picture of economic growth, downturns and investments. It also contributes to the debate on how to overcome the limits of accounting standards to recognize intellectual assets so as to improve companies' valuation and lower their cost of capital.

The purpose of this paper is to analyze the impact of taxes on economic growth in the long run as well as in the short run.

The study uses simple time series model, where real GDP is dependent variable and different forms of taxes are explanatory variables under ARDL framework from 1976 to 2014 at annual frequency for Pakistan.

Direct taxes have positive relation with economic growth in the long run. Sales tax, tax on international trade (tariffs) and other indirect taxes have positive impact on economic growth of Pakistan in the long run as well as in the short run. However, sales tax and other indirect taxes impact negatively on economic growth in the short run after one year because people realize decline in their real income.

Government should increase direct taxes by increasing tax base. Indirect taxes usually indicate negative impact after one and two years; therefore, government should decrease its reliance on indirect taxes. Government should promote tax awareness among the people which increase the tax morale of people and increase the tax base.

Taxes are disaggregated into direct and indirect taxes, while indirect taxes have been further disaggregated into excise duty, sales tax, surcharges, tax on international trade and other indirect taxes. This study provides useful insight for policy makers in designing taxes and their effect on growth.

The purpose of this paper is to analyze the impact of tax structures on economic growth in Jordan over the period 1980-2015 using error correction techniques. It provides empirical evidence that the tax structure itself, comprising direct taxes, indirect taxes and total tax revenues, is an insufficient indicator for policymakers, whereas when each tax was included separately in the model, it was found that income tax, corporate taxes and personal taxes influenced per capita income growth negatively and that all of them were distortionary taxes. They greatly reduced both short and long-term per capita growth, while tariffs and consumption taxes were found to influence per capita income growth positively. The study also shows that relying heavily on increasing total taxes without taking into consideration the tax structure of the country would lead to a reduction in per capita income, in contrast to other tax structures that showed positive and neutral effects on per capita income. Tax reform and shifting from income taxes toward consumption taxes and tariffs would therefore enhance the well-being of individuals and increase their share of output.

This study uses an analytical approach in the framework of an error correction model. This approach allows us to overcome many problems in time series data such as non-stationary, serial correlation and endogeneity of variables, which have been ignored in many published studies dealing with time series data.

The analysis shows that consumption and tariffs have a positive effect on per capita gross domestic product growth, whereas income taxes negatively influenced this growth measure. This implies that attention must be paid to a preference for consumption and tariffs to provide sustained growth. The authors recommend that the government objective should shift from raising revenues to achieving social justice and efficiency.

There are two main limitations inherent this study. The first limitation in regard to the missing data in the series for labor force and average years of schooling, interpolation method used to overcome this shortage. While the second limitation is about the importance of the tax structure itself and its direct impact on such patterns of investment which have been considered but within narrow limits.

The relationship between taxes and economic growth is a controversial aspect of economics, because of its high impact on the decisions made by individuals and institutions, along with its direct influence on the economy as a whole. The authors recommend that the Jordanian government’s objective should shift from raising revenues to achieving social justice and efficiency. Furthermore, Jordan’s weak tax performance and ineffective tax structure indicate the importance for policymakers of focusing more closely on enhancing future per capita growth, which can be done by shifting from income tax toward consumption and trade taxes. On another level, policymakers can reform the tax structure in favor of long-run growth by addressing the importance of consumption taxes and trade taxes in their policies, rather than increasing tax rates.

The character of growth is more important than its magnitude. Economic growth should be reflected in the alleviation of poverty reduced inequality and ultimately better living standards. Additionally the authors believe that sustained economic growth can be achieved only if it is broadly based and inclusive. This implies the need to generate jobs for the growing workforce and the adoption of policies to protect and cater for the vulnerable segments of the population. Otherwise economic policy will fail to achieve its objectives.

This study assists policymakers in understanding the relationship between the various types of taxes and economic growth. In particular, the relation between the unique tax structure and growth drivers. This is the first study to analyze tax structure and economic growth in Jordan.

For more than four decades, persistent economic activities and a focused growth strategy resulted in significant infrastructural and other favorable economic and institutional changes in the world's developing nations. High-quality growth is not just a function of sound economic policies but also implementing a broad range of social policies. The BRICS (Brazil, Russia, India, China and South Africa) nations have proven their testimony on both these factors. Following their path are some other emerging economies like N-11 (or Next Eleven propounded by Goldman Sachs (2005) Report), which this present study tries to examine as successors of BRICS.

Along with panel data regression modelling, the study has applied econometric procedures robust to heterogeneities across various nations and have been able to produce more reliable results that can be generalized for other similar groups of countries. 11 independent variables (both economic and institutional) have been used to meet the study's objective for a period of 34 years (1985–2018).

The findings of the study reveal that the governments of both the group of countries must work toward their macro-economic stability factors (external debt stocks), technological capabilities (mobile and fixed broadband subscriptions), human capital (health expenditure) and political conditions (mainly the rule of law) to enhance their sustainable economic growth.

This study enhances knowledge of the determinants of economic growth in emerging countries. Firms from BRICS and N-11 may better understand the factors influencing their internationalization process (both economic and institutional). The study is significant not just for the researchers but also for the policymakers of the BRICS and N-11 to understand in which areas their country is leading or lagging. The study is useful even for the policymakers of other emerging countries of the world who might take lessons from these nations (especially BRICS) and follow their success path. This study helps the governments of other groups of emerging countries such as PIN (Pakistan, Indonesia and Nigeria); MINT (Mexico, Indonesia, Nigeria and Turkey); CIVETS (Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa), etc. which can follow the path of BRICS economies in growth and formulate policies to increase their economic growth accordingly. At the enterprise level, it helps MNCs understand BRICS and N-11 markets and formulating entry and growth strategies in these most emerging countries of the world.

The present study is unique. It tries to investigate the projections of the Goldman Sachs report after 15 years of its release. It tries to determine the factors responsible for the economic development in the N-11 countries with advanced econometric techniques. Majorly, the focus is to comparatively analyze the growth trajectory for BRICS and N-11 nations and suggest whether N-11 has the potential to become successors of BRICS. A concentrated effort to examine the most significant drivers (both economic and institutional), which may lead to economic progression, has been made in this study.

Since the late 1990s, developing countries have been encouraged by international financial organisations to adopt a shareholder primacy corporate governance model. It was anticipated that in an increasingly globalised financial market, countries which introduced corporate governance practices that favour investors would gain a comparative advantage and attract more capital leading to financial market growth. This paper aims to empirically test this hypothesis.

The present research paper quantitatively investigates whether adopting shareholder primacy corporate governance norms has had any impact on the growth of the financial market, focusing on nineteen developing countries between 1995 and 2014. Time series indices are prepared for corporate governance regulations, financial market development along with three control indices. Then a lagged multilevel regression between these indices is used to investigate the strength of causality between the adoption of pro-shareholder corporate governance and the growth of the financial market.

The research paper finds that shifting towards a shareholder primacy model in corporate governance has a very small effect on growth of financial market in developing countries. Overall the financial, economic and technological controls have much more impact on the growth of financial markets.

This paper conclusively ends the discussion as to whether change in corporate governance has any impact on financial market growth of a country. The papers uses Bayesian econometric model. The paper thus signals the end of LLSV led question as to whether law can affect finance.

This study aims to explore the impact of energy investment on economic growth. Specifically, the study investigates the impact of energy consumption, foreign investment, infrastructure development, tax revenue, human capital, international tourism revenue and trade volume on economic growth.

To achieve the aim, the authors sample the 24-years (1996–2019) financial statistics of BRICS countries. Given the econometric recommendations supplemented by the Johnsen cointegration test, the current study uses the fully modified ordinary least square model for regression analysis and checks the robustness through robust least square model.

The statistical analysis shows a direct impact of energy investment on economic growth. In addition, the statistical results indicate a positive impact of energy consumption, foreign investment, infrastructure development, tax revenue, human capital and trade volume on economic growth.

The results present practical implications for policymakers regarding the adequate investment in energy production that can further promote the economic growth in BRICS countries. Policy officials should enhance the volume of renewable energy production, foreign investment and tax revenue. Additionally, it is equally suggested to policymakers regarding the development of infrastructure and human capital to ensure economic growth.

This study supplements the novel and robust evidence on investment in energy-leading economic growth.

The purpose of this study is to discuss corporate governance in state-owned enterprises (SOEs) in Lesotho to influence policy debates.

This is a desktop study that used the qualitative research approach. For this research, the case study method has been adopted. In terms of orientation, this is descriptive research. Data were collected from three-tiered sources: independent publications (e.g. World Bank); government publications; and newspaper articles. Data analysis was in the form of document analysis.

The study concluded that there are instances of poor and/or bad governance in SOEs in Lesotho. Egregious examples include transgressing against the Public Financial Management Act (2011) and the failure to submit Audited Financial Results.

The findings are limited to a specific case. Nonetheless, there are general lessons that can be drawn for African countries from the case study. A key general lesson is the imperative need to reconfigure the legal-institutional architecture of SOEs so that they create public value.

Other than cataloguing instances of poor and/or bad governance in SOEs in Lesotho, the paper goes further and accordingly makes policy recommendations to enhance corporate governance in SOEs in Lesotho.

There is no academic study on corporate governance in SOEs in Lesotho; therefore, there is a gap in the literature. Hence, the study makes an original contribution to the literature.

The past few decades have seen a gradual convergence in corporate governance norms the world over, entailing a discernible shift towards shareholder primacy models. It holds particularly true of developing countries, many of which have steadily amended corporate governance norms to enhance the scope of shareholder rights. This is usually justified through the rationale that increasing protection for foreign investors and shareholders would mean greater investment in capital market and overall financial market development. In India, the shift coincides with a series of fundamental economic and financial policy reforms initiated in the 1990s: collectively and loosely referred to as “liberalisation”, this process marks a paradigm-shift from a tightly controlled welfare economy to one considerably more laissez-faire in its orientation. A fallout of which was that the need to attract and sustain foreign investments acquired an unprecedented significance. The purpose of this paper is to help the readers understand in this larger context the corporate law reform initiatives in India, particularly those pertaining to shareholder rights and allied issues.

This paper empirically tests the hypothesis that enhanced shareholder protection leads to greater levels of investments, and financial developments generally. It then uses regression analysis to detect if the change in corporate governance, making it more shareholder-friendly, has had any effect on growth in financial market. It is divided into two broad parts. The first tracks the evolution of corporate governance norms in India. A robust qualitative and quantitative analysis is used to determine the tilt towards a shareholder primacy regime that Indian corporate governance regime now displays. The second chapter deals with the regression analysis where the outcome variable is financial market growth, and explanatory variable is the change in the governance regime with relevant control variables.

The authors find that change in shareholder primacy corporate governance has little effect on financial market growth in India. The authors would suggest that instead of changing the law in books, more emphasis should be given to implement those regulations and increase the overall rule of law.

This is the first time that such a wide-scale study has been conducted in India, using Bayesian methods. It ought to be of immense value to professionals and academics both.