As by product of economic growth, jobs are indeed transformational. In other words, efficiency increases as workers get better at what they do (as more productive jobs appear and less productive one disappear). In fact societies flourish as jobs bring together people from different ethnic and...

Thanks to a level of growth in foreign investment, the gap is narrowing between Romania and other East European countries like the Czech Republic, Poland and Hungary, countries normally considered the preferred choice of foreign investors. In the last years, Romania has become a more appealing...

Education is an important pillar in the national economic development. It contributes to economic growth in varied forms. The educational system in Eritrea shows all the symptoms of prolonged neglect under colonialism and war. But education plays a key role in the development after independence....

Hoping to contribute to the existing pool of literature, this paper examines the relationship between military expenditure and economic growth in selected Asian countries for the period 1989 to 2004. Our panel unit root test suggests that real GDP per capita and military expenditures are )1(I...

In this study we employ the bounds testing procedure suggested by Pesaran (2001) and dynamic OLS (DOLS) proposed by Stock and Watson (1993) to test the robustness of the causal effect and long-run relationships between military expenditure and economic growth in ASEAN-5 countries from the year...

This book presents theoretical and empirical investigation of the possible impact of human capital on economic growth in transition economies of Ukraine, Russia, Poland, and Hungary during the period of 1990-2007. This research defines place and role of human capital in the process of transition...

Using Japanese prefecture-level data for the years 1979 and 1996, I explore the extent to which inequality, age heterogeneity, and human capital have an effect upon neighborhood trust, which is ordinarily considered as a kind of particularized trust. The major findings are as follows: (1) Income...

Skill-biased technical change and trade integration have both been indicated to be the cause of the wide increase in wage inequality in U.S. in the last 50 years. This paper shows in a simple uni�ed framework why both mechanisms can reproduce the observed pattern of wage dispersion....

The current short note suggests an alternative measure for economic growth, which is based on consumer welfare instead of per capita income. It suggests that this measure can be better applied to economies with certain characteristics.

Using two data series, namely GDP and the index of industrial production, we study the relationship between output variability and the growth rate of output. Ng-Perron unit root test shows that the growth rate of GDP is non-stationary but the growth rate of industrial output is stationary. Thus,...