The division of labor, capital, communication technology and economic growth : the case of China 1952–99

The implications of the division of labor, capital, and technology for economic growth have long been a fundamental issue in development economics. This paper employs the bounds testing approach to cointegration to examine the relationship between the division of labor, capital accumulation, communication technology, and economic growth for China over the period 1952–99. We find that in the long run, capital stock and the division of labor both have statistically significant positive effects on growth, while in the short run the effects are not significantly positive. Telecommunication technology, rather surprisingly, has a statistically insignificant impact on growth both in the long run and in the short run. Our findings indicate that there exists a long run equilibrium relationship between capital and the division of labor on the one hand, and economic growth on the other, thereby lending support to the division of labor theory of growth.

Tourism, dutch disease and welfare in an open dynamic economy

This paper examines the effects of an expansion in tourism on capital accumulation, sectoral output and resident welfare in an open economy with an externality in the traded good sector. An expansion of tourism increases the relative price of the nontraded good, improves the tertiary terms of trade and hence yields a gain in revenue. However, this increase in the relative price of nontraded goods results in a lowering of the demand for capital used in the traded sector. The subsequent de-industrialization in the traded good sector may lower resident welfare. This result is supported by numerical simulations.

Has international trade in saving improved US economic welfare?

Over the past decade international policy-makers have perceived the current account deficit of the world's largest foreign borrower economy, the United States, as a threat to global economic and financial stability. Yet, by bridging the US domestic saving-investment gap, capital inflow that matched the huge US current account deficit also enabled a faster rate of domestic capital accumulation than home saving alone would have permitted. Consistent with the theory of international capital movements, this study identifies and compares the respective contributions of domestic and foreign saving to US gross domestic product per worker over the two decades prior to the onset of the US banking crisis. By revealing that foreign borrowing contributed significantly to raising US output and hence living standards over this period, it adds a new dimension to the debate about global imbalances.

Labour productivity measurement with variable returns to scale in Australia's construction industry

As an important productivity indicator, the change of labour productivity is one indispensable marker in determining the rise or fall of overall industrial performance. This study aims to address whether the labour productivity level of the Australian construction industry has, in fact, shown a huge improvement during the last few decades. This article constructs a measuring method estimating labour productivity changes based on the data envelopment analysis technique with variable returns to scale. By adopting a production frontier approach, the labour productivity index can be broken down into components attributable to efficiency change, technological progress and capital accumulation. The numerical results exemplified by a single-input and single-output system indicate that the average annual labour productivity levels of the construction industry are slowly growing in all the Australian states and territories. However, the year-on-year change in the overall labour productivity performance does not maintain a long-term increase over the period 1990–2008. The study forms the basis for further industrial productivity research. Proposals and recommendations are expected to be beneficial for making policy and strategic decisions to improve the performance of the construction industry.

Survival misperception, time inconsistency, and implications for life-cycle saving and welfare

Some empirical studies firmly reveal that people tend to form overly pessimistic survival expectations for relatively less distant ages and overly optimistic survival expectations for relatively more distant ages. We incorporate this observation into a life-cycle continuous time overlapping-generations model of consumption/saving with a general form for a subjective survival function. Resulting time-inconsistent optimal control problem has been analytically solved. At the micro level, time inconsistency leads to higher consumption at young and old ages, but this alone fails to improve lifetime well-being since micro-level decisions made with a lack of information about true mortality are suboptimal. In general equilibrium, however, such time inconsistent behavior with survival misperception is conducive to aggregate capital accumulation and greater equilibrium bequest income. The latter effects can produce substantial welfare gains. We also note that empirically observed old age optimistic bias is an important phenomenon, as it helps to avoid unrealistic very old-age debt accumulation within a life-cycle model. In addition, if for a given level of optimistic bias we increase early-life pessimism, this would result in slower capital accumulation, lower bequest income, and thus be detrimental to welfare. Since recent literature reports that young-age survival pessimism has grown over time, it raises some concerns.

Tourism, Dutch disease and welfare in an open dynamic economy

This chapter examines the effects of an expansion in tourism on capital accumulation, sectoral output and resident welfare in an open economy with an externality in the traded good sector. An expansion of tourism increases the relative price of the non traded good, improves the tertiary terms-of-trade and hence yields a gain in revenue. However, this increase in the relative price of non traded goods results in a lowering of the demand for capital used in the traded sector. The subsequent de-industrialization in the traded good sector may lower resident welfare. This result is supported by numerical simulations. © 2011 Nova Science Publishers, Inc.

The role of middle class in economic development: what do cross-country data show?

This paper investigates the channels through which the middle class may matter for consumption growth. Using several different middle-class measures and a panel of 105 developing countries spanning the period 1985-2013, we find that a larger middle class influences consumption growth primarily through higher levels of human capital accumulation. There is also a significant direct effect of middle-class size on consumption growth, which is more pronounced in the latter half of the sample, the 2000-2013 period.

Playing with reggio spaces in higher education for teacher education

In its attention to how space can be thoughtfully arranged, Reggio Emilia has “reconceptualised space as a key source of educational provocation and insight” (Strong-Wilson & Ellis, 2007, p. 40). Such an approach advocates that educators pay close attention to the myriad of ways that space can be made to speak and invite interaction. Theorists recognise eight key principles (aesthetics, transparency, active learning, flexibility, collaboration, reciprocity, bringing the outdoors in, and relationships) which are considered essential to the notion of environment as third teacher. Drawing upon a successful capital rebuilding grant, this presentation outlines the process of reconceptualising and building a space for flexible research, teaching and learning within higher education. This presentation interrogates the successes and challenges which arise when innovating within a traditional space.

Spaces of empire : culture, discourse, and urban formation with particular reference to British Hong Kong, 1842-1914

Traces the ideological formations of British colonialism using the techniques of modern European cartography to examine the practices of spatial production in Hong Kong's capital city, Victoria. This examination demonstrates how notions of British cultural identity and self-representation were inscribed throughout the colonial urban environment by considering the ways in which the British colonial authorities sought to condition, control, and maintain the organisation of space.

Health system reform and social capital

Jim Hyde suggests that the research on building the capacity of communities and the accumulation of social capital shows that how we organize our health systems - in both micro and macro contexts - is important. He argues that collaboration, flexibility and community participation must become central in health structures.

'Everybody has settled in so well': How migrants make connections and build social capital in Geelong

Australian and Victorian Government policies encourage settlement in regional areas for international migrants, refugees and internal migrants. Migrants to regional areas are diverse in terms of their area or country of origin, skills and occupation, family status and other demographic characteristics. The regional cities to which they migrate are also varied in terms of their community resources, social and cultural capital. The objective shared by all of these cities is for migrants to engage successfully with their new communities. Just how this occurs is the subject of debate and a lack of clarity. This therefore calls for a sound, theoretically informed understanding of how employers and community groups (formal and informal) can effectively assist migrants to make social connections in regional cities, and practical strategies which respond to these insights. The well-established social determinants of health tell us that the more socially included, connected and stable workforce and their families are, the better will be their physical and mental health and wellbeing.

Students' imaginings of spaces of learning in outdoor and environmental education

In this article, the author interrogates students’ stories about the spaces and places in a tertiary Outdoor and Environmental Education course that support and shape their environmental ethics. Drawing on a longitudinal qualitative study, she explore the ways in which particular sites of learning (outdoor, practical learning) are privileged and how particular stories of outdoor spaces get reproduced. The author employs the work of poststructuralist geography scholar Doreen Massey in her analysis to highlight the intersections between space, relations of power and identity. This analysis also underscores the simultaneity of multiple and conflicting stories around Outdoor Education’s outdoor (practical) and indoor (theoretical) learning spaces. The article concludes by drawing on Elizabeth Ellsworth’s work on anomalous places of learning to explore some of the spaces in-between the indoor/outdoor binary as a way of interrupting and re-imagining places and spaces of learning in Outdoor Education.

Students' imaginings of spaces of learning in outdoor and environmental education

In this article, the author interrogates students’ stories about the spaces and places in a tertiary Outdoor and Environmental Education course that support and shape their environmental ethics. Drawing on a longitudinal qualitative study, she explore the ways in which particular sites of learning (outdoor, practical learning) are privileged and how particular stories of outdoor spaces get reproduced. The author employs the work of poststructuralist geography scholar Doreen Massey in her analysis to highlight the intersections between space, relations of power and identity. This analysis also underscores the simultaneity of multiple and conflicting stories around Outdoor Education’s outdoor (practical) and indoor (theoretical) learning spaces. The article concludes by drawing on Elizabeth Ellsworth’s work on anomalous places of learning to explore some of the spaces in-between the indoor/outdoor binary as a way of interrupting and re-imagining places and spaces of learning in Outdoor Education.