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.

Administration of Urban Planning and Community and Rural Development, Economic Development NEC, Labor Force, Capital Management-Internal Funds NEC, Economic aspects, Capital markets, Public investments, Labor supply, Capital, Elasticity (Economics)

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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.

Administration of General Economic Programs, Economic Planning & Research, Evaluation, Political aspects, Economic conditions, Gross domestic product, Associations, Multiculturalism, Societies

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