This paper examines the short and long run dynamic relationships exhibited between economic growth and growth in the insurance industry for nine OECD countries. This is achieved by conducting a cointegration analysis on an unique set of yearly data for the level of real GDP and total real premiums issued in each country from 1961 to 1996. Causality tests are then also conducted whilst accountin...

Huang [ Journal of Statistics and Management Systems, Vol. 6 (2003), No. 2, pp. 171-180 ] studied the EOQ (Economic Order Quantity) and EPQ (Economic Production Quantity) models with backlogging and defective items using the algebraic approach. He assumed 100% inspection policy and the known proportion of defective items was removed prior to storage or use after the screening process. In this p...

all of us have heard about the asian south east miracle many times. in the situation that dependency and world system theories was whimpering over the third world countries, the countries of this region experienced highest economic growth in history in according to wb. many of researchers believe that this have been achieved by making economic development prior and suspending other development ...

nowadays, economic load dispatch between generation units with least cost involved is one of the most important issues in utilizing power systems. in this paper, a new method i.e. water cycle algorithm (wca) which is similar to other intelligent algorithm and is based on swarm, is employed in order to solve the economic load dispatch problem between power plants. wca is used to solve complicate...

A real economic growth only comes from increasing quality and quantity of the factors of production. Most production systems produce items which are of imperfect quality. In a production/inventory situation items which are received or produced are not of perfect quality. Thus the presence of defects which is inevitable in a produced/ordered lot is sorted out by the process of screening. Handlin...

In the last 30 years, China has achieved high economic growth and successfully transformed its economy from a planned economy to a market-based system. The country, to a large extent, has attained success through the recommendations proposed by standard economic theory. However, the role of political economy has been omitted from the literature: how did China adopt the right economic policies a...

Questioning the underlying assumptions of the process of creative destruction, we conceptualize an alternative process of creative construction that may characterize the dynamics between entrants and incumbents. We discuss the underlying mechanism of knowledge spillover strategic entrepreneurship whereby knowledge investments by existing organizations, when coupled with entrepreneurial action b...

In this paper we investigate three sources of economic growth and evolution of world income distribution during the 90’s: (i) technological change, (ii) efficiency change (the catching-up) and (iii) capital deepening. Our research is an extension to recent study of Kumar and Russell (2002), which we complement in two ways: we considering a more recent period (the 90’s instead of 1965-90) and, a...

Focussing on the prime example of CO2 emissions, we discuss several important theoretical and econometric problems that arise when studying environmental Kuznets curves (EKCs). The dominant theoretical approach is given by integrated assessment modelling, which consists of economic models that are combined with environmental impactmodels. We critically evaluate the aggregation, model dynamics a...