There is convergence of opinion that stimulating broad-based economic growth from productive-sector activity is a priority in the next phase of Vanuatu’s development. A recent study commissioned jointly by AusAID and NZAID examined some of the issues and options in supporting this objective. While the report (Bazeley and Mullen 2006) also discusses theoretical aspects of achieving equitable gro...

The institutional structure of an economy is modeled as a portfolio. This model predicts that a sample of countries with highly diversi ed institutional structures should have a lower variance of economic growth rates than a sample of countries with homogeneous institutional structures. It also predicts that growth rates over time for individual countries with highly diversi ed institutional st...

Educational corruption is a worldwide phenomenon yet its impact on economic growth is unclear. In this paper we formulate a macroeconomic model to explore the impact educational corruption may have on growth, educational attainment, and the education wage premium. We find that our model can produce a negative relationship between economic growth and educational corruption as well as a positive ...

As discussed earlier, there are no commonly accepted approaches of assessing the contribution of a given sector such as commercial aquaculture, to economic growth. Using previous studies, such as the one conducted by Timmer (1992), as a foundation, this chapter attempts to develop a framework for measuring this impact for commercial aquaculture. The assessment framework is developed in two step...

Results: This paper finds that a combination of immediately delayed retirement and accumulated pension system should be implemented if based on the goal of maximizing output, while a combination of undelayed retirement and accumulated pension system should be implemented if based on the goal of maximizing utility. Certainly, with using efficiency of elements unchanged, with the decrease of work...

China is one of the most dynamic regions in the world in terms of economic growth and development. Such development has inevitably influenced the structure and habits of Chinese society. Whilst the economic condition of the middle class and high-income segment has steadily improved, cultural changes are also under way: ancient Chinese traditions now include major elements from other cultures, m...

Article history: Received 24 June 2011 Revised 12 May 2012 Available online 25 May 2012 JEL classification: O12 O17 O50 P48

Entrepreneurship in Advanced and Developing Countries: A Microeconomic Perspective The purpose of this paper is to provide a contribution to the identification of the role of entrepreneurship in economic growth by mapping out: 1) alternative ways of looking at entrepreneurship, distinguishing ‘creative destruction’ from simple ‘turbulence’; 2) the different microeconomic determinants of new fir...