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(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
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Andriy Stavytskyy, Vincent Giedraitis, Darius Sakalauskas and Maik Huettinger
This paper investigates the historical trends in economic development through the impact of economic depressions and emissions of greenhouse gasses, namely carbon dioxide (CO2). The analysis includes four countries: the United States, the United Kingdom, Germany and Japan. The focus, therefore, will be on the impact of two economic crises and their effect on global warming. Temperature changes in the longer period are very often regarded as a result of human activity, which can be measured by the increase of GDP (per capita). The findings indicate that GDP (per capita) parameters cannot be considered as correct measures of human pollution activity. The results show that the long-run temperature can be evaluated with the help of annual average temperatures of the previous four years. The proposed model does not only provide quite satisfactory forecasts, but is very stable with coefficients variables that can make a model more reliable for practice.
(% of GDP) . Available at https://www.finance.gov.mk/en/node/2678 [10 May 2018].
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Ladders in the Theory of Growth. The Review of Economic Studies, 58(1), 43. doi: http://dx.doi.org/10.2307/2298044
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Mykolas Navickas, Vytautas Juščius and Valentinas Navickas
In this article the relationship between shadow economy and its’ determinants has been examined. Ten Eastern countries from European Union were chosen due to specific particularities, which may cause higher shadow economy levels in the investigated countries compared with the EU average. Time span of 2003-2016 was selected, as 2017 data has yet to be released at the time of the analysis. Article consists of examination of the current situation and shadow economy trends in Eastern European countries; overview of shadow economy scientific literature followed by hypothesis, which are examined by constructing regression models. Models aim to distinguish the relationship between selected determinants and shadow economy size. Scientific literature analysis revealed that increase of tax burden on labor is seen as a primary reason for the increase of shadow economy, however, such relation has not been identified. Furthermore, results show that unemployment and self-employed people ratio affect shadow economy insignificantly. This suggests that further analysis is needed. Nonetheless, regression model has not rejected the hypotheses of corruption level, income inequality, business freedom and GDP per capita effect on shadow economy. Thus, it can be stated that these variables are determinants of shadow economy in Eastern European countries.
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