Level Of Capital Accumulation Research Articles

Solow Growth Model dan Kausalitas Hubungan Saving dan Pertumbuhan Ekonomi: Perbandingan Negara Maju (High Level Income) dan Negara Berkembang (Upper-Middle Level Income)

At a theoretical level, it is believed that there is a relationship between savings rates and economic growth. In this case, accumulated savings can be used for investment purposes, which will then encourage GDP growth in the short term. On the contrary, in Keynes's view, GDP growth actually triggers growth in the savings rate. Debate then emerged as to which factors were the cause of a country's economic growth. This research uses the Solow Growth Model theoretical approach, which states that under the assumption of a closed economy, the level of savings will influence the level of investment and in turn have an impact on economic growth. Based on these arguments, this research conducted a comparative analysis of two countries, namely Indonesia and Singapore, in the period 2008-2022. The research results show that there is a tendency in the same direction of causality between savings levels and economic growth, at the two extremes of country income levels. Indonesia as a country in the upper-middle income category, and Singapore as a country in the high income category, have economic growth rates caused by the level of capital accumulation through savings. So that policies related to savings accumulation will still be relevant in the future. For future research, it is recommended to consider the influence of other macro variables, considering that the Solow Growth Model requires long-term longitudinal analysis, so that distortion of macro variables such as interest rates can have an impact on the causality of the relationship.

Cross-border im/mobility of skilled migrants from the U.S. to China: a capital-mobility framework

The number of skilled migrants moving from the Global North to the Global South has been increasing in recent decades. This paper develops and employs a capital-mobility framework to analyze empirical evidence about the new international migration of skilled U.S. migrants to the Pearl River Delta Region of China. Guided by the literature on im/mobility and capital, this paper asks the following questions: What affects skilled U.S. migrants’ mobility to and from China? How do they experience the dynamics of voluntary and involuntary immobility in China? Drawing on 58 semi-structured interviews, we found that the level of capital accumulation and its transferability and convertibility influenced migrants’ mobility and immobility. In addition, the global outbreak of Covid-19 facilitated mobility for some while hindered mobility for others. This study discusses the differences between North-to-South and South-to-North skilled migration and conceptualizes im/mobility as a continuum experienced by skilled migrants during their migratory trajectories.

Financial Integration Without Financial Development.

This paper shows that, in a two-country model, where the two economies differ in their level of financial market development, financial integration has sizable short- and medium-term effects, even in the absence of aggregate risks. Consistent with the Lucas paradox, the present work establishes that financial integration can reduce the speed of capital accumulation and increase savings in a developing country still in the process of convergence toward the steady state and with domestic capital market distortions. The level of capital accumulation at the time of integration crucially affects agents’ welfare. The closer the economy is to its steady state, the lower are agents’ welfare gains in the financially less advanced economy, while they are always negative in the more developed country. Two forces drive these results: precautionary saving and the propensity to move resources from risky capital to safe assets until the risk-adjusted return on capital equalizes the risk-free interest rate. Under the assumption of the constant relative-risk-aversion utility function, those forces are both decreasing in wealth.

Investing for urban-rural migration: the role of education

Neither clear theoretical interpretation nor empirical validation of public educational investment to urban-rural migration or urbanization exists comprehensively. This paper comprehensively analyzes the relationship between public educational investment and urban-rural migration to fill in this niche. We first discuss the theoretical effect of public educational investment and urban-rural migration. Although public educational investment results in distortion and may hinder economic development in the short term, it will still benefit the economy due to its positive long-term impact on human capital. These benefits include a higher level of urban-rural migration and a deepening level of capital accumulation. The empirical evidence using China’s data, where we control for confounding factors, take into account endogeneity of public educational investment and investigate the mechanisms behind the relation, confirms our theoretical discussion. This paper is of great significance in understanding China’s past process of urban-rural migration.

The embodied state: governmentality in a Brazilian favela

Given that the influence of the state apparatus tends to vary across space, it has been frequently presumed that the state develops a stronger presence in wealthier neighborhoods (where levels of capital accumulation are higher) than it does in poorer ones. In Brazilian favelas (urban slums), as a prominent example, ethnographic accounts have previously suggested that the presence of the ‘official’ state is limited and on the decline. Based on the results of intensive fieldwork in Fortaleza, Brazil, this paper complicates that argument, positing that the state, through the effects of governmentality, may actually have a much stronger presence in favelas than has often been presumed. Drawing upon case research with favela residents, and interpreting through a Foucaultian perspective, this paper explains the increasing presence of the state through the governmentality produced in urban space. By recognizing how the state manifests both in and through bodies and space, researchers are provided better traction for understanding proliferating urban slums and explaining the political landscapes they engender.

Trabalho, desenvolvimento e nacionalismo: Desafios atuais da periferia estrutural do sistema

A century and a half after the first international experiences between ‘major’ and ‘minor’ nations, as they have been called in accordance with the level of capital accumulation observed in each category, we may conclude that the cult of progress and “useful” science will never be able to obtain truly universal results nor reverse a scenario that is much worse for some than for others. Quite to the contrary, inequalities initially taken as “accidental detours” or passing phenonena that can be overcome by the ‘merchants of equality’ are in fact social contradictions that are an inherently structural element of the hierarchical functioning of the system. Keywords: labor, nationalism, development, structural crisis, socialist transition.

Emerging Varieties of Capitalism in Former State Socialist Societies

The transformation of the former state socialist societies involved the introduction of capitalism from above. The current ‘varieties of capitalism’ debate focuses on developed high income capitalist countries, whereas the former state socialist countries come from a low economic base and are in the process of capitalist formation. It is contended that, while levels of capital accumulation are very low, a modern capitalist system of the continental type characterises one group of central European societies. This group approaches the levels of OECD countries with respect to marketisation and has a positive participation in the global economy. A second, relatively poor and weakly coordinated, cluster has the characteristics of low income, primary sector exporting countries, with a very low integration into the global economy. This group is characterised as a hybrid state/market uncoordinated type of market capitalism. A third, relatively coherent, cluster has high levels of state control, relatively little privatisation and an undeveloped market.

From unemployment to golden age capital accumulation in a two-sector growth model

Abstract This paper investigates the level of capital accumulation required for an economy to arrive at the golden age. It assumes a two-sector balanced growth model in which labor may not be fully employed initially and the growing economy arrives at the stage of full employment within a finite time horizon. The paper determines the requisite level of capital accumulation at the threshold of the golden age and thereafter.

Capital Accumulation and Annuities in an Adverse Selection Economy

Previous articleNext article No AccessCapital Accumulation and Annuities in an Adverse Selection EconomyMartin S. Eichenbaum, and Dan PeledMartin S. Eichenbaum Search for more articles by this author , and Dan Peled Search for more articles by this author PDFPDF PLUS Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinkedInRedditEmail SectionsMoreDetailsFiguresReferencesCited by Journal of Political Economy Volume 95, Number 2Apr., 1987 Article DOIhttps://doi.org/10.1086/261458 Views: 8Total views on this site Citations: 19Citations are reported from Crossref Copyright 1987 The University of ChicagoPDF download Crossref reports the following articles citing this article:Francesco Menoncin, Sergio Vergalli Optimal stopping time, consumption, labour, and portfolio decision for a pension scheme, Journal of Economics 132, no.11 (Jul 2020): 67–98.https://doi.org/10.1007/s00712-020-00710-yStephane Verani, Pei Cheng Yu What's Wrong with Annuity Markets?, SSRN Electronic Journal (Jan 2020).https://doi.org/10.2139/ssrn.3672376Mariacristina De Nardi, Giulio Fella Saving and wealth inequality, Review of Economic Dynamics 26 (Oct 2017): 280–300.https://doi.org/10.1016/j.red.2017.06.002Toan Phan Information, insurance and the sustainability of sovereign debt, Review of Economic Dynamics 22 (Oct 2016): 93–108.https://doi.org/10.1016/j.red.2016.06.006Roozbeh Hosseini Adverse Selection in the Annuity Market and the Role for Social Security, Journal of Political Economy 123, no.44 (Oct 2015): 941–984.https://doi.org/10.1086/681593Toan Phan Information, Insurance and the Sustainability of Sovereign Debt, SSRN Electronic Journal (Jan 2015).https://doi.org/10.2139/ssrn.2603721Mariacristina De Nardi Quantitative Models of Wealth Inequality, SSRN Electronic Journal (Jan 2015).https://doi.org/10.2139/ssrn.2749267Ben J. Heijdra, Laurie S. M. Reijnders Economic Growth and Longevity Risk with Adverse Selection, De Economist 161, no.11 (Oct 2012): 69–97.https://doi.org/10.1007/s10645-012-9199-4Petra Steinorth The demand for enhanced annuities, Journal of Public Economics 96, no.11-1211-12 (Dec 2012): 973–980.https://doi.org/10.1016/j.jpubeco.2012.07.007Ben J. Heijdra, Laurie S.M. Reijnders Economic Growth and Longevity Risk with Adverse Selection, SSRN Electronic Journal (Jan 2010).https://doi.org/10.2139/ssrn.1578297Amy Finkelstein, James Poterba, Casey Rothschild Redistribution by insurance market regulation: Analyzing a ban on gender-based retirement annuities, Journal of Financial Economics 91, no.11 (Jan 2009): 38–58.https://doi.org/10.1016/j.jfineco.2007.12.006Petra Schumacher Enhanced Annuities – Produktinnovation als Lösungsstrategie für das Annuity Puzzle?, Zeitschrift für die gesamte Versicherungswissenschaft 97, no.S1S1 (Oct 2008): 71–89.https://doi.org/10.1007/s12297-008-0036-4Marco Cagetti, Mariacristina De Nardi WEALTH INEQUALITY: DATA AND MODELS, Macroeconomic Dynamics 12, no.S2S2 (May 2008).https://doi.org/10.1017/S1365100507070150Oded Palmon, Avia Spivak Adverse selection and the market for annuities, The Geneva Risk and Insurance Review 32, no.11 (Jul 2007): 37–59.https://doi.org/10.1007/s10713-007-0002-4Marco Cagetti, Mariacristina De Nardi Wealth Inequality: Data and Models, SSRN Electronic Journal (Jan 2005).https://doi.org/10.2139/ssrn.838325Hugo Benitez-Silva The Annuity Puzzle Revisited, SSRN Electronic Journal (Jan 2003).https://doi.org/10.2139/ssrn.1091504Bertrand Villeneuve Life Insurance, (Jan 2000): 901–931.https://doi.org/10.1007/978-94-010-0642-2_27Oliver Fabel Disability insurance in an optimal pension scheme, Journal of Economics Zeitschrift f�r National�konomie 62, no.22 (Jun 1995): 157–183.https://doi.org/10.1007/BF01226008James B. Davies, Peter Kuhn Social security, longevity, and moral hazard, Journal of Public Economics 49, no.11 (Oct 1992): 91–106.https://doi.org/10.1016/0047-2727(92)90065-N