Under the condition that education sector uses human capital as the only input of production, human capital could flow out from final goods sector to education sector eternally, which is defined to be perpetual structural change in the present paper. The emergence of perpetual structural change...

This paper presents a model which takes into account two main factors that have been partially neglected by the economic development literature: the environmental externalities of human activities and agents' heterogeneity in terms of asset endowment and, consequently, in terms of income source...

The way in which natural and physical capital are accumulated, distributed and harnessed underpins the functioning and sustainability of the productive system of each society as well as its social stratification. Significant changes in the interactions between natural and physical capital...

Vulnerability to scarcity or to reduction of natural capital depends on defensive substitution possibilities that, in turn, are affected by the availability of other productive factors. However, in several developing countries asset distribution tends to be highly skewed. Taking into ac- count...

Vulnerability to scarcity or to reduction of natural capital depends on defensive substitution possibilities that, in turn, are affected by the availability of other productive factors. However, in several developing countries asset distribution tends to be highly skewed. Taking into account...

Recent studies document the deteriorating performance of forecasting models during the Great Moderation, which conversely implies that forecastability was higher in the preceding era when the economy was unexpectedly volatile. We explain this phenomenon in the context of equilibrium...

The Environmental Kuznets Curve hypothesis (EKC) postulates an inverted u-shaped curve between important pollutants and per capita GDP analogous to the relationship between income inequality and income per capita which has been analysed by Kuznets in 1955. The article focuses on an empirical...

The performance of alkalis (NaOH and Ca(OH)2) and acids (H2SO4, HCl, H3PO4, CH3COOH, and HNO3) in the pretreatment of rice husk was screened, and a suitable reagent was assessed for subsequent optimisation using response surface methodology. From the assessment, HCl that hydrolysed rice husk...