Browsing by Subject "Wachstumstheorie"

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Longevity-induced vertical innovation and the tradeoff between life and growth
(2017) Baldanzi, Annarita; Prettner, Klaus; Tscheuschner, Paul
We analyze the economic growth effects of rising longevity in a framework of endogenous growth driven by quality-improving innovations. We show that a rise in longevity raises savings and thereby reduces the market interest rate. Since the monopoly profits generated by a successful innovation are discounted by the endogenous market interest rate, this raises the net present value of innovations, which, in turn, fosters R&D. The associated increase in the employment of scientists leads to faster technological progress and a higher long-run economic growth rate. From a welfare perspective, we show that the direct effect of an increase in life expectancy on lifetime utility is much larger than the indirect effect of the induced higher consumption due to faster economic growth. Consequently, the debate on rising health care expenditures should not predominantly be based on the growth effects of health care.
Spatial decisions of multinational enterprises and their effect on local firms
(2004) Ehnts, Dirk
Since the 1980s empirical research has been conducted on the influence of MNEs on local firms. The spillovers predicted by growth theory models used in the research designs have not been found. The main result is the importance of increased competition for the productivity of local firms. When FDI flows expanded rapidly in the 1990s, it became clear that MNEs play an important role in international technology transfer. However, growth theory models are limited in that market structures and firms cannot be modeled explicitly. The New Economic Geography (NEG) is better equipped to handle these issues. Instead of spillovers it relies on linkages. Therefore, new insights might be gained by basing empirical research on a NEG model and looking for linkages among firms.
The impact of formal and informal institutions on per capita income
(2009) Dobler, Constanze
Despite the many approaches of neoclassical and endogenous growth theory, economists still face problems explaining the reasons for income differences between countries. Institutional economics and the deep determinants of growth literature try to depart from pure economic facts to examine economic development. Therefore, this article analyses the impact of institutions, geography and integration on per capita income. Concerning theoretical reasoning, emphasis is on the emergence of institutions and their effect on economic growth. However, institutions can appear in different shapes since political, legal and economic restrictions are not the only constraints on human behaviour. Norms and values also limit possible actions. Therefore, a differentiation between formal and informal institutions is made. The regression results affirm a crucial role of informal and formal institutionsconcerning economic development.
The impact on institutions, culture and religion on per capita income
(2009) Dobler, Constanze
Despite many approaches of neoclassical and endogenous growth theory, economists still face problems in explaining the reasons for income differences between countries. Institutional economics and the deep determinants of growth literature try to depart from pure economic facts to examine economic development. Therefore, this article analyzes the impact of institutions, geography, and integration on per capita income. Concerning theoretical reasoning, emphasis is on the emergence of institutions and their effect on economic growth. However, institutions can appear in different shapes since political, legal, and economic restrictions are not the only constraints on human behaviour. Norms and values also limit possible actions. Therefore, a differentiation between formal and informal institutions is made. Informal institutions are defined as beliefs, attitudes, moral, conventions, and codes of conduct. Property rights are assumed to be the basic formal institutional feature for economic success. Despite their direct impact on growth through individual utility maximization, property rights also make a statement concerning the political and legal environment of a country. Regarding the regression analysis, different religious affiliations are used as instrumental variables for formal and informal institutions. The regression results affirm a crucial role of informal and formal institutions concerning economic development. However, a high proportion of Protestant citizens encourage informal institutions that support economic growth, while a high Muslim proportion of the population is negatively correlated with growth-supporting formal institutions.
The tradeoff between fertility and education : evidence from the Korean development path
(2014) Lee, Joongho; Jun, Bogang
Unified Growth Theory suggests the demographic transition and the associated rise in human capital formation were critical forces in the transition from Malthusian stagnation to modern economic growth. This paper provides empirical evidence in support of this hypothesis based on the Korean industrialization in the late 20th century. Using a fixed effects model and a fixed effect two-stage least squares model, this study exploits variations in fertility and in human capital formation across regions in Korea over the period 1970 to 2010. This analysis finds a virtuous cycle, where technological progress increased the demand for human capital, leading to an increase in the level of education and, in turn, to a demographic transition. This establishes the existence of a quantity–quality tradeoff on the Korean development path.
Varieties of systems of innovation : a survey of their evolution in growth theory and economic geography
(2007) Christ, Julian P.
The systems of innovation (SI) approach has been established and extended during the last two decades. Although elementary goals and progress have been reached through seminal contributions by Freeman (1987), Lundvall (1992) or Nelson (1993), in designing a generic approach, displaying the dynamics of collaboration, networking and interactive learning, criticism has been raised that systems of innovation are still ?undertheorized?. The objective of this paper is to describe briefly the historical evolution of the SI concept within the academic literature and the policy sphere. This review primarily attempts to highlight some of the most important contributions that strongly assisted to the framework, by providing more consistency and a more theory-oriented perspective. Consequently, the system concept itself seems to be a kind of ?boundary object?. Within both, the academic and the policy field, different levels of conceptualization have been challenged and advanced in the course of time. These conceptualizations basically differ in their scale of analysis, taking geographical perspectives, technologies or sectoral classifications as foci for theorizing and empirical research. Despite these substantial levels of research, the SI framework is increasingly challenged, analyzed and extended in the context of globalization. As a result, regarding the openness and flexibility of the SI approach, this paper particularly tries to focus on the difficulties of contemporary research in defining functional and spatial boundaries in theory and empirical research. Agglomeration tendencies, knowledge externalities and localized learning are primarily based upon the concepts of knowledge diffusion, tacit knowledge and proximity. In spite of that, ICT and global business linkages foster inter-regional and transborder knowledge flows. Thus, knowledge diffusion is also related to international and global ?pipelines? that could support, strengthen and reinforce localized learning.