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Military Expenditures and Shadow Economy in the Central and Eastern Europe: is There a Link?

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 GDP per capita. 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

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Poland’s Economic Performance in Global and Long-term Perspective: Surprises so far and Risks in the Years Ahead

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 per capita GDP, substantial enough to resume the process of catching up with the per capita GDP levels of the technologically advanced economies. 3 The unexpected developments in Poland During the last 25 years the rate of growth of per capita GDP 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

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On the Relation Between Health and Income: A Cross-Country Analysis

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 GDP per capita and the investment rate, the

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Investment Activity of Local Administrative Units and the Level of Entrepreneurship Development in the Rzeszów Functional Area

, 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) per capita), 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

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Post-socialist Myanmar and the East Asian Development Model

predictions for the following years have been equally optimistic. Nevertheless, Myanmar still remains one of the poorest countries in Southeast Asia, with GDP per capita 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 per capita 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

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The Global Economy in the 21st Century: Will the Trends of the 20th Century Continue?

1 Introduction 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 per capita GDP 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

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Macroprudential Policies and 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.

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Determinants of FDI in BRICS Countries: Panel Data Approach

Abstract

We empirically investigates the factors that affect Foreign Direct Investment (FDI) inflows in five BRICS countries for the period 1990–2015. We address the selection bias and unobserved heterogeneity by estimating a panel Heckman selection method and attempts to account for both selection and endogeneity within the new two-stage method. After addressing the above mentioned econometric issues, the infrastructure and GDP per capita variables under the new two-stage method remain positive and significantly similar to the coefficient of infrastructure and GDP per capita under the panel Heckman selection model. In addition, the inverse Mills ratio maintain its level of statistical significance, confirming the presence of both sample selection bias and endogeneity.

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The FDI-Growth Nexus in South Africa: A Re-Examination Using Quantile Regression Approach

Abstract

This study sought to contribute to the growing empirical literature by investigating the effects of FDI on per capita GDP growth for South Africa using time series data collected between 1970 and 2016. Compared to the majority of previous studies, we use quantile regressions which investigates the effects of FDI on economic growth at different distributional quantiles. Puzzling enough, the empirical results show that FDI has a negative influence on welfare at extremely low quantiles whereas at other levels this effect turns insignificant. Contrary, the effects of domestic investment on welfare is positive and significant at all levels. Collectively, these results have important implications for policymakers in South Africa.

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Education and Economic Growth of the Western Balkans Countries

Summary

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.

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