This is an attempt to derive broad, strategic lessons from the diverse experience with economic growth in last fifty years. The paper revolves around two key arguments. One is that neoclassical economic analysis is a lot more flexible than its practitioners in the policy domain have generally...

Following a strong rebound in the first half of 2021, economic activity cooled rapidly in the latter half of the year. The slowdown was partly policy induced, reflecting significant fiscal tightening and regulatory curbs on the financial and real estate sectors, while recurring COVID-19...

Das Solidaritätsprinzip prägt die gesetzliche Krankenversicherung (GKV). Bislang leisten rund vier von zehn Versicherten einen Solidarbeitrag, weil sie mehr einzahlen, als es ihren alters- und geschlechtsabhängigen Durchschnittsausgaben entspricht. Andersherum ist es bei sechs von zehn...

Der Wahlkampf zur Bundestagswahl 2021 bringt verschiedene Forderungen an den zukünftigen Bundeshaushalt mit sich. So muss dieser in der kommenden Legislaturperiode womöglich die "Mütterrente" finanzieren, die EEG-Umlage übernehmen, den Anstieg der Sozialbeitragsquote über 40 Prozent...

Die Mitgliedstaaten des Euroraums begegnen mit hohem finanziellem Aufwand den wirtschaftlichen Folgen der Covid-19-Pandemie. Als Reaktion auf diese Ausnahmesituation wurden die Regeln des Stabilitäts- und Wachstumspakts vorläufig außer Kraft gesetzt. Auf Dauer allerdings wird die Wirtschafts-...

Taxes are the primary sources of income to the government for running the government machinery and financing various projects and are vital for economic growth and development of a country. Puducherry being a small union territory, the revenue generated is too small that limits the development...

Following a strong rebound in the first half of 2021, economic activity cooled rapidly in the latter half of the year. The slowdown was partly policy induced, reflecting significant fiscal tightening and regulatory curbs on the financial and real estate sectors, while recurring COVID-19...

This paper studies the properties of second-best optimal policy in a standard general equilibrium model of growth augmented with renewable natural resources. The government chooses its policy instruments (the income tax rate and the allocation of collected tax revenues between public investment...

In recent years, activist monetary policy rules responding to inflation and the level of economic activity have been advanced as a means of achieving effective output stabilization without inflation. Advocates of such policies suggest that their flexibility may yield substantial stabilization...

The study set out to investigate whether China’s rise complements or competes with Africa’s manufacturing sectors, using a system GMM estimator. The findings reveal that imports of intermediate manufactured goods from China boost manufacturing production in African economies but that total...

In Lisbon the European Council proclaimed a European growth strategy. It considers an average economic "growth rate of around 3 percent as a realistic prospect for the coming years" and assigns public finances an important role in the process of achieving this goal. This paper addresses the...

Nordrhein-Westfalen ist wie das gesamte Land massiv von den Auswirkungen der Corona-Krise betroffen. Während die Verbreitung der Erkrankung spürbar zurückgeht, befindet sich die Wirtschaft weiterhin in der tiefsten Rezession in der Geschichte des Landes. Zur Stabilisierung der...

A strong and widely acknowledged record of economic success—including a three-and-ahalf- fold increase in per capita income since 1994—places Rwanda among the world’s fastest-growing economies. Traumatic memories of the 1994 genocide are gradually fading, as associations begin to take a...

Deutschland weist im Umgang mit finanziellen Fragen einige Besonderheiten auf. Dazu gehören die geringen Erträge der umfangreichen internationalen Anlagen dieser exportorientierten Volkswirtschaft, die auch Jahrzehnte nach dem ersten Befund unzureichende Bereitstellung von Risikokapital und...

Nach den Lockdown-Schritten vom 16. und 23. März zur Bekämpfung der Corona-Pandemie ist die deutsche Wirtschaft in weiten Teilen erheblich beeinträchtigt. Erste Entspannungssignale wurden nach Ostern gegeben. Vielfach kann ein Wiederanfahren der Produktion von den Unternehmen organisiert...

Nordrhein-Westfalen ist wie das gesamte Land massiv von den Auswirkungen der Corona-Krise betroffen. Während die Verbreitung der Erkrankung spürbar zurückgeht, befindet sich die Wirtschaft weiterhin in der tiefsten Rezession in der Geschichte des Landes. Zur Stabilisierung und Verbesserung...

Nordrhein-Westfalen ist wie das gesamte Land massiv von den Auswirkungen der Corona-Krise betroffen. Während die Verbreitung der Erkrankung spürbar zurückgeht, befindet sich die Wirtschaft weiterhin in der tiefsten Rezession in der Geschichte des Landes. Zur Stabilisierung der...

Since we coined the term in 2006, “the middle income trap” has been the subject of scores of investigations. The investigators have generally tried to answer one of two questions: Is there evidence to support the existence of the trap, and what can middle-income countries do to spring free...

"Since the appearance of macroeconomics in the 1940s, economists have created many theoretical frameworks to explain the origin and mechanism of economic fluctuations. However, few of these have managed to gain explanatory power over reality and nor can they solve real-life problems. This book...

Silicon Valley, trajectories and government policy -- Trajectories, competitive advantage and learning -- Industrial policy debates -- Policy options -- The early Asian model: building domestic businesses -- Capability building for a global economy: Singapore and Ireland -- Building global...

This article addresses Japan's economy, its new economic policy package, which is known as Abenomics. The centerpiece of Abenomics has been the three "economic arrows" targeted at aggressive monetary policy, flexible fiscal policy, and growth strategy. This article focuses on Abenomics and shows...

Aggregate demand is important, both in the short and the long run, but a basic distinction must be made between dual and mature economies. Mature economies may su¤er from a structural aggregate problem ("secu- lar stagnation"): full-employment growth may be impossible in the absence of...

"Politicians and economists fixate on "growing the economy"-measured by a country's gross domestic product. But this yardstick counts harmful activities such as greenhouse gas emissions, plastic waste, and cigarette sales as gains, and it ignores environmental protection, voluntary community...

"The government of Shinzo Abe represents an important turning point in Japanese politics and political economy. Abe is the longest-serving Prime Minister in Japanese history, and his government has enacted important reforms under the banner of "Abenomics." In this introductory chapter, we...

This volume seeks to explain the political economy of the Abe government and the so-called 'Abenomics' economic policies. The Abe government represents a major turning point in postwar Japanese political economy. In 2019, Abe became the longest serving Prime Minister in Japanese history. Abe's...

In the postwar period until today the call for more intensive economic growth, again and again, enjoyed a substantial popularity in the world of politics, in particular with reference to possible current solutions of given economic problems. Here growth considerations and decisions in the past...