Hulya Eraslan (Rice University)
Description: Department Seminar: Hulya Eraslan (Rice University)
Location: TBD
Contact Person: David Hennessy
Description: Department Seminar: Hulya Eraslan (Rice University)
Location: TBD
Contact Person: David Hennessy
“Economic Growth” is the year-on-year increase in a country’s GDP, that is, the total market value of goods and services produced in a year. As you rightly said, population is an important factor, and therefore, more meaningfully, we look at the country’s GDP per capita and its growth over a period of time. I agree with your explanation that producing more, selling more, and employing more, summarized by higher GDP per capita, is not a perfect measure of the growth of a country, but we call it the best possible measure.
Thanks for asking. This is a good and long-lasting debated question in Economics. As reported, the recent fertility rate in Canada is around 1.4, which is relatively low because the subsistence level is 2.1. I believe the Canadian government should encourage immigration, esp. the immigration of high skilled or highly educated labors. Here are my reasons.
There are several statistical reasons why you would covert the variable into a logarithm. Logarithm transformation, for example, can change a highly skewed variable into a more normalized distribution. It is also useful when you wish to linearize the relationship. Because GDP per capita and income inequality fall under the above criteria, they are frequently approximated in log form.
Due to the inverted U-shape of the Kuznets curve, one approach for testing it is to design a model with a polynomial effect, which is adding log squared GDP ((log GPD)^2).
The question of Africa uniting is not a theoretical one; indeed, there are ongoing efforts toward regional integration and economic cooperation. The African Union (AU), through its eight Regional Economic Communities (RECs) and its Agenda 2063, offer blueprints for these possibilities. Nonetheless, there is no simple or straightforward answer to your question.
Some of it is read by computers and some by humans. An online marketplace like Amazon's Mechanical Turk, employs millions around the world (including the U.S.) to work on these tasks at wages of 5 cents an invoice. The argument can be made that no one is "taking advantage of workers in developing countries" because those workers can choose to participate or not. And for many people, it is quick money and $20 a day can be seriously good income in a country where the average person lives on $2 a day. This is democratization of work, viewed in one way.
It means that once the dust has settled, insurance companies have paid out, homes have been rebuilt, infrastructure redone, people have moved out, businesses rebuilt, and so on, the total cost of all that would reach billions. These "billions" would not have to be spent had the disaster not occurred. That is the point. Some new research on this can be found at: “Do Natural Disasters Affect Growth?
Mark Edelman, professor, co-authored a column with Barry Flinchbaugh, Kansas State, titled "Trade Myths and Trans-Pacific Partnership (TPP) Strategy." It is the second of a series of invited columns for Agri-Pulse Point-Counterpoint on trade. Read more about Edelman co-authors column on trade
David Swenson, associate scientist, talked with Kevin Hardy, Des Moines Register, on the short-term job and income impacts of the Dakota Access Pipeline. Read more about Swenson on Dakota Access Pipeline, rural labor
Edelman, Mark. "Addressing Rural Equity Capital Gaps for Strategic Development." selected paper presented at Community Development Society (CDS)... Read more about Edelman presents two papers