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  • 1
    Electronic Resource
    Electronic Resource
    Basel, Switzerland : Helbing & Lichtenhahn Verlag AG
    Kyklos 53 (2000), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Type of Medium: Electronic Resource
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  • 2
    Publication Date: 2004-02-25
    Description: From hot-wire anemometer measurements in active-grid wind-tunnel turbulence we have determined the Reynolds number dependence of the velocity derivative moments, the mean-squared pressure gradient, X, and the normalized acceleration variance, a0, over the Reynolds number range 100 ≤ Ri ≤ 900. The values of X and a0 were obtained from the fourth-order velocity structure functions. The derivative moments show power-law dependence on Reynolds number and the exponent is the same with or without shear. In particular, we find the derivative kurtosis, K∂u/∂ ∼ R〈sub/〉0.39 and there is no evidence of the transition that has been observed in this quantity in some recent work. We find that at high Reynolds numbers, χ and a0 tend to values similar to those obtained by direct particle tracking measurements and by direct numerical simulation. However, at lower Reynolds number our estimates of χ and a0 appear to be affected by the evaluation technique which imposes strict requirements on local homogeneity and isotropy. © 2004 Cambridge University Press.
    Print ISSN: 0022-1120
    Electronic ISSN: 1469-7645
    Topics: Mechanical Engineering, Materials Science, Production Engineering, Mining and Metallurgy, Traffic Engineering, Precision Mechanics , Physics
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  • 3
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    Copenhagen: University of Copenhagen, Economic Policy Research Unit (EPRU)
    Publication Date: 2018-06-28
    Description: Empirical evidence seems to indicate that economic growth since 1965 has varied inversely with natural resource abundance across countries. This paper proposes a linkage between abundant natural resources and economic growth, through saving and investment. When the share of output that accrues to the owners of natural resources rises, the demand for capital falls leading to lower real interest rates and less rapid growth. However, institutional reforms paving the way to a more efficient allocation of capital may enhance the quantity as well as the quality of new investment and sustain growth. Empirical evidence from 85 countries from 1965 to 1998 suggests that abundant natural capital may on average crowd out physical capital thereby inhibiting economic growth. The results also suggest that abundant natural resources may hurt saving and investment indirectly by slowing down the development of the financial system. However, high growth rates in a handful of formerly resource-dependent economies seem to indicate that economic and structural reforms can overcome any adverse effect of natural resources on economic growth.
    Keywords: ddc:330
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 4
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2015-05-22
    Description: This paper reviews some reasons why natural resource abundance and extensive agriculture appear to impede economic growth around the world. The paper presents empirical, cross-sectional evidence of various aspects of this relationship in the transition economies in Central and Eastern Europe and Central Asia since 1990. The essence of the argument is that heavy dependence on natural resources and agriculture may result in rent seeking (e.g., corruption) and policy failures (e.g., inflation) and may, moreover, discourage education, external trade, and genuine saving, thereby retarding economic growth. The paper concludes with a brief discussion of the policy implications of the analysis.
    Keywords: ddc:330
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 5
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2016-10-07
    Description: This paper is intended to demonstrate, in theory as well as empirically, how increased dependence on natural resources tends to go along with less rapid economic growth and greater inequality in the distribution of income across countries. On the other hand, public policy in support of education can simultaneously enhance equality and growth by raising the return to working in higher technology (that is, nonprimary) industries and thus counter some of the potentially adverse effects of excessive natural resource dependence. Together, these two variables - natural resources and education - can help account for the inverse relationship between inequality and growth observed in cross-country data. Moreover, the analysis highlights the role of public revenue policy. Taxes and fees can be used to reduce the attractiveness of primary-sector employment, lift the marginal productivity of capital in higher technology industries and thus increase the rate of interest and economic growth, while reducing the inequality of income and wealth.
    Keywords: ddc:330
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 6
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2016-10-07
    Description: This paper reviews the relationship between natural resources and economic growth, and stresses how natural capital tends to crowd out foreign capital, social capital, human capital, andphysical capital, thereby impeding economic growth across countries and presumably also over time. Specifically, the paper presents empirical evidence that nations with abundant natural capital tend to have (a) less trade and foreign investment, (b) more corruption, (c) less education, and (d) less domestic investment than other nations that are less well endowed with, or less dependent on, natural resources. This matters for growth because empirical evidence also indicates that trade, honesty, education, and investment are all positively and significantly related to economic growth across countries.
    Keywords: ddc:330 ; Natural resources ; economic growth
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 7
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2016-10-07
    Description: This essay reviews the relationship between natural-resource abundance and economic growth around the world, and presents some new results. The principal reasons why resource-based production can inhibit economic growth over long periods are traced to the Dutch disease, neglect of education, rent seeking, and economic policy failures. Across a large number of countries in the period from 1965 to 1998, the share of the primary sector in the labour force is shown to be inversely related to exports, domestic and foreign investment, and education, and directly related to external debt, import protection, corruption, and income inequality. The cross-sectional data show, moreover, that the share of the primary sector in the labour force is inversely related to per capita growth across countries. None of this lies in the nature of things, however. What seems to matter for economic growth is not the abundance of natural resources per se, but rather the quality of their management, and of economic management and institutions in general.
    Keywords: ddc:330 ; Natural resources ; rent seeking ; economic growth
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 8
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2016-10-07
    Description: Education has been one of the key determinants of economic growth around the world since 1965. In this paper, we discuss three different measures of education, and consider their relationship to the distribution of income as measured by the Gini coefficient as well as to economic growth across countries. The three measures are: (a) gross secondary-school enrolment, (b) public expenditure on education relative to national income and (c) expected years of schooling for girls. We show that all three measures of education are directly related to income equality across countries. In a sample of 87 countries at all income levels, we also find that more and better education appears to encourage economic growth directly as well as indirectly through increased social equality and cohesion. Our regression results survive the introduction of regional dummy variables for Africa, Asia and Central and South America. We argue that the empirical relationship between education, on the one hand, and growth and equality, on the other hand, can help account for the positive correlation between the two latter variables that has been documented in the literature.
    Keywords: ddc:330
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 9
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    München: ifo Institut für Wirtschaftsforschung an der Universität München
    Publication Date: 2017-08-04
    Keywords: O10 ; O40 ; ddc:330 ; Wirtschaftswachstum ; Wachstumstheorie ; Institutionelle ; Infrastruktur ; Welt ; Economic growth ; Growth theory ; Institutional infrastructure ; World
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:article
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  • 10
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2016-10-07
    Description: This lecture addresses three related aspects of monetary and fiscal management in Europe and elsewhere. First, I discuss the implications of economic integration for monetary and fiscal policy, especially the narrow focus on low inflation as the main objective of monetary policy. I argue that because inflation springs from several sources, monetary authorities held responsible by law for maintaining low inflation need to exercise their newfound independence by reserving the right to address all sources of inflation. In this context, I also ponder the question whether increased independence of fiscal policy from short-term political interference would be desirable. Second, I present new empirical evidence of the relationship between inflation, finance, and economic growth across countries, arguing that long-run growth considerations provide an important additional justification for why price stability ought to remain a priority of independent policy makers. Third, I review some further aspects of the relationship between fiscal policy and economic growth, emphasizing the traditional three-pronged role of fiscal management: stabilization, allocation, and distribution, all of which can be conducive to growth. The argument leads to the conclusion that only the stabilization function of fiscal policy and perhaps also some aspects of the allocation function could be usefully delegated in an attempt to immunize them from shortsighted and socially counter-productive political interference, but not the distribution function.
    Keywords: ddc:330
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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