economic growth


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economic growth

growth in the GROSS NATIONAL PRODUCT (GNP). A distinction can be drawn between theories of economic growth (in ECONOMICS) which emphasize primarily economic variables, such as levels of saving and investment (e.g. the Harrod-Domar model) and those which are more sociological and take account of wider social as well as more narrowly economic factors (e.g. SCHUMPETER or ROSTOW).
Collins Dictionary of Sociology, 3rd ed. © HarperCollins Publishers 2000
References in periodicals archive ?
The most significant increase has been achieved in the private consumption segment, but also a positive contribution to economic growth came in the area of ??investments, which recorded growth of 7.3 percent.
"Next, I will give full play to the advantages of international economic and trade negotiations and continue to lead Taiwan's economic growth upwards," wrote Tsai.
The critical role of technological innovation in increasing economic growth is not disputed.
In its latest report, the IMF lowered its global economic growth projection from 3.5 to 3.3 percent, the lowest in three years, because of the trade tension caused by Brexit and the economic problems, in the rich countries in particular.
On the basis of this high economic growth rate scenario, the average economic growth rate for the 2018-2023 period is projected at 5.8percent.
This pace of economic growth will create nearly 9.5 million jobs.
Robert E Lucas conducted a study "on the mechanics of economic development" and states that the factors behind the economic growth is the human capital accumulation rate, in which both the economic growth and human capital accumulation rate is proportional to each other since, human capital levies externalities on production.
This is only the basic picture, however; in real terms, dynamics of labor taxation and economic growth is more complex.
So investment has an important role in the economic growth,' said Thomas Lembong at the Indonesia Stock Exchange Building (IDX) in South Jakarta, on Tuesday (7/24).
Keywords: Governance, Corruption, Economic Growth, SAARC Countries, Panel Data, FEM
ECONOMIC GROWTHDespite a steady economic growth over the past decade, inequality remains very high.

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