Estuaries and coastal zones are dynamic transitional systems which provide many economic and ecological benefits to humans, but also are an ideal habitat for other organisms as well. These areas are becoming contaminated by various anthropogenic activities due to a quick economic growth and urbanization. This chapter explores the sources, chemical speciation, sediment accumulation and removal m...

This paper offers a theoretical framework for studying the interactions of energy prices and economic growth. The incorporation of energy prices and quantities in a macroeconomic setting focuses on (1) the aggregate technology; (2) the interdependence of energy producers and consumers in the world economy; and (3) the asset markets as the channel through which energy price changes affect output...

“Scientific truth”, Marx wrote in a famous statement, “is always paradox, if judged by everyday experience, which catches only the delusive appearance of things” (Marx, 1899, 54). The idea of the production of nature is indeed paradoxical, to the point of sounding absurd, if judged by the superficial appearance of nature even in capitalist society. Nature is generally seen as precisely that whi...

By incorporating human capital accumulation into a dynamic trade model, we examine the relationship between the growth rate and the specialization pattern of a growing economy. We found that as long as its autarky price differs from the world price, a small open-economy eventually specializes completely. Furthermore, the impact of the terms of trade on the growth rate depends on the trade patte...

A deterministic model of economic growth and pollution accumulation, in the form of a system of partial differential equations, is designed and analyzed. The model assumes pollution as a by-product of production. The stock of pollution has a negative impact on production. The accumulation of pollution is dampened by a share of the investments, in the form of an environmental tax. We consider a ...

Some recent studies of the relationship between investment (or saving) and growth have found an absence of positive causality from the latter to the former. This finding poses a puzzle for growth theory and relies on groups of countries obeying a constant growth equation for its robustness. In this paper I investigate the causality from investment to GDP using postwar time-series data from the ...

The economism paradigm consists of five key elements: capitalist market economy; poverty reduction rather than the pursuit of equality; the “economic fertilizer” role of government; a pro-growth political regime and domestic economic stability. Economism is a paradigm of “more or less”, in which individuals with different income can change positions given equality in economic opportunities. Eco...

This paper reviews the innovative capabilities and absorptive capacities of African countries, and investigates whether they have played significant roles in the region’s slow and episodic economic growth. Results from cross-country regressions covering 31 Sub-Saharan African countries suggest that growth in Africa is not simply a question of capital accumulation, fertility rates, aid dependenc...

This paper uses a production function approach to put the recent contribution of the New Economy to US economic growth into perspective by undertaking an analysis of the sources of technical progress in the business sector over the post-war period. We model jointly a pair of factor demand equations derived consistently from an underlying CES production technology, and explicitly endogenise tech...

R obert Solow’s (1956) neoclassical model reigns as the standard theory of economic growth. The Solow model begins with the assumption that capital accumulation is subject to diminishing marginal returns. It attributes sustained growth in national income per capita to technological progress that proceeds at a constant, exogenously given rate. Thus, it is an exogenous growth model. Recently, eco...