Productivity of public spending, sectoral allocation choices, and economic growth
Article Abstract:
The impact of private and public capital and labor on economic growth was investigated through the measurement of scale elasticities using a sample of 21 countries. A low output elasticity was exhibited by infrastructure capital while a high output elasticity was expressed by human resource-development capital. Meanwhile, military capital had a negative output elasticity. These results suggested the need for developing countries to adopt strategies that improve training, education and private capital formation for economic growth.
Publication Name: Economic Development & Cultural Change
Subject: Social sciences
ISSN: 0013-0079
Year: 1998
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Cultural diversity and economic development: a cross-national study of 98 countries, 1960-1985
Article Abstract:
Ninety-eight countries were evaluated in terms of their cultural diversity and economic development from 1960-1985. This was to find out if multiculturalism directly or indirectly influences a nation's economic development. Findings indicate that differences in the ethnic, linguistic and religious aspects are not related to a country's growth rate. Societies with multicultural backgrounds develop economically and likewise achieve political stability as homogeneous ones.
Publication Name: Economic Development & Cultural Change
Subject: Social sciences
ISSN: 0013-0079
Year: 1997
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