32 Productivity is, once more, on the agenda in many OECD countries. It has long been regarded as the long-run driver of economic growth, but attention for productivity-related issues has waxed and waned over the past decades. In recent years, productivity growth has received a great deal of attention in several OECD countries, notably Australia, Canada, the Netherlands, the United Kingdom and ...

This paper examines the impact of the global financial crisis on the Nigerian financial system. The paper documents extensive evidence to show that the immediate past governor of Central Bank of Nigeria was puerile in preventing the global financial crisis from having adverse effect on the Nigerian economy. As a result, the Nigerian capital market was seriously hit by the crisis. The prices of ...

The questions we ask include: Why don’t economic institutions spontaneously adjust to the requirements of economic growth? Why did the Industrial Revolution originate in England, and why did it spread only to some countries? Why have transition-to-markets reforms failed in some post-Soviet economies and succeeded elsewhere? In the “New Economy”, what adjustments in property rights are needed to...

In more recent years, it has become increasingly recognized that R&D (research and development) is a key driver of economic growth, a source of innovation and change, and as such stimulates improvements in productivity and economic competitiveness. It is closely associated with knowledge and flexibility, two factors that have gained new significance as a source of competitiveness in an increasi...

resources’ scarcity, especially in developing countries, has caused allocation essentially among competing activities to create value. the importance of resource allocation would be more understood if we pay attention to growing complexity in societies and economic development problems they face. in the context of the national economic development literature, the notion of “key or critical sect...

capital market is one of the most important sectors of every economy. economic growth can lead to capital market boom and development, on the other hand, achieving desired economic growth and development is impossible without efficient financial institution and suitable funding resources. in this study the relationship between financial development and economic growth in opec countries and non-...

The stock market is a common feature of a modern economy and it is reputed to perform some necessary functions, which promote the growth and development of the economy. This study examines whether stock market promotes economic growth in Nigeria. To achieve this objective, ordinary least squares regression (OLS) was employed using the data from 1980 to 2000. The results indicated that there is ...

this paper explores the importance of oil sector in providing input for economic sectors and also its changes during the last decades in iran. to that end, the partial and total forward linkage between oil sector and other domestic production sectors as well as their changes are examined using the input-output tables of the years 1986 and 2001. and also based on the information on hand, perform...