that there is dependence between government military expenditure and the shadow economy. This effect is very robust and it remains significant in many alternative specifications of the model after a number of socioeconomic factors are controlled for, such as level of corruption, rule of law and GDPpercapita. There are several possible explanations for these results. First, military-controlled property, such as land and real estate, can be misused for illegal economic activities ( Gupta et al., 2001 ). Furthermore, military expenditures are the most opaque
products, followed by the introduction of less costly methods of production and new or improved products. These responses led eventually to an increase in the rate of growth of percapitaGDP, substantial enough to resume the process of catching up with the percapitaGDP levels of the technologically advanced economies.
3 The unexpected developments in Poland
During the last 25 years the rate of growth of percapitaGDP in Poland was about twice as high as in the part of the world economy which I call the Technology Frontier Area (TFA). The TFA includes, above all
number of facts for the purpose of this paper. We see that the incidence of TBC can serve as a good measure for public health given the nature of the disease and the disease environment as such in the TBC-infested countries. Moreover, microeconomic evidence from randomized trials in developing countries supports the conjecture of this paper that health can matter for health. Therefore, studying it on a macro level seems to be relevant.
4 Data and Method
We exploited three databases: Penn World Tables for the data on GDPpercapita and the investment rate, the
, are of great importance. The ability of enterprises to constantly search and use in practice the results of research and development (R&D) and adapt to the changing environment is difficult without R&D. Although Podkarpackie voivodeship is one of the poorest regions of the country (with one of the lowest wages in the country and low gross domestic product (GDP) percapita), it ranks third in the country in terms of internal expenses incurred on R&D in relation to GDP. This may affect the financial results and competitiveness of firms operating in ROF, which will be
predictions for the following years have been equally optimistic.
Nevertheless, Myanmar still remains one of the poorest countries in Southeast Asia, with GDPpercapita at USD 1,204 in 2014 The World Bank data: http://data.worldbank.org/indicator/NY.GDP.PCAP.CD [accessed 05.04.2016]. W 2014 r. niższe PKB percapita liczone kursem walutowym w regionie zanotowała Kambodża - 1094 USD oraz Timor Leste - 1169 USD. and at USD 5,200 2015 The World Factbook: https://www.cia.gov/library/publications/the-world-factbook/geos/bm.html [accessed 05.04.2016]. when calculated as
Angus Maddison’s Contours of the World Economy , I - 2030 AD (2007) is perhaps the best world economic history work. Steve Hanke summarized it as the history of three “distinct epochs of economic growth: the Middle Ages 1000–1500, when the world percapitaGDP rose by 0.05% per year; the protocapitalistic epoch, 1500–1820, when it grew by 0.07% a year; and the capitalist epoch, 1820–2000, when the rate of growth was 17 times higher than it was in the preceding epoch” ( Hanke 2008 , x).
The neoclassical theory of economic growth
xtabond2: An introduction to “Difference” and “System” GMM in Stata.” Center for Global Development Working Paper No. 103.
21. Sanchez, A., & Rohn, O. (2016). How do policies influence GDP tail risks? OECD Economics Department Working Paper, No. 1339.
22. Slovik, P., & Cournede, B. (2011). Macroeconomic impact of Basel III. OECD Working Papers No. 844.
(NSO, 2013; Jones and McGavin, 2015 ). There are large skill shortages in a variety of trades, such as carpentry, hospitality, retail, and office administration ( Imbun, 2015 ). In addition, the cost of labor is quite high as the minimum wage was around 1.22 United States Dollars (USD) per hour in 2018, which is the same as countries with Gross Domestic Product (GDP) percapita four times that of PNG (such as Malaysia) ( Jones and McGavin, 2015 ).
Despite the large skill shortages, there are few opportunities for youth to enter the formal sector labor market in
leading economies from a long-term perspective, a deceleration in productivity growth can be detected, despite a short-lived acceleration during the 1990s ( Fig. 2 ). This is also reflected in similar developments of Gross Domestic Product (GDP) percapita (i.e., including the inactive population) that show a remarkable absence of accelerating improvements in living standards. This observation had already perplexed economists during the 1980s when Robert Solow famously stated that “you can see the computer age everywhere but in the productivity statistics” ( David, 1990
Numerous theoretical and empiric studies investigate the correlation between education and human capital and economic development. Full affirmation of knowledge and the role of education in stimulating economic growth were provided by endogenous theory. The subject of this paper is to analyse the correlation between education and educational system and the economic growth of the Western Balkans countries (WB). The hypothesis of this work says that: education and educational system in the WB affect the growth of GDP per capita. A better education system stimulates and accelerates the economic growth and development. The aim of this research is to prove that an optimal education system stimulates the growth and development in each observed national economy. In this paper, the results of the correlation analysis indicate high compliance of higher education with GDP per capita i.e. higher education population is particularly important for the level of development whereas there is a highly compliant but inverse relation of the population with informal level of education and economic development in the WB countries.