This dissertation consists in an analysis about the interconnection between the relative price of capital and economic growth. The work is divided in two essays. In the first one, an analysis of the dynamic impact of trade restrictions is performed in order to understand the impact over economic growth and relative price of capital. This analysis is particularly relevant to understand the Brazilian case, which presented a strong rise in the relative price of capital, exactly at the time the country was adopting import substitution policies and restrictions to the trade of capital goods. The second essay emphasizes differences between countries of income per capita and relative price of capital. Consistent with recent empirical work, this analysis emphasizes how differences in productivity could be generated and how this could impact the dispersion of income per capita and the relative price of capital. / Esta dissertação consiste em uma análise sobre as interligações entre o preço relativo do capital e crescimento econômico. O trabalho está divido em dois ensaios. No primeiro, é realizado uma análise do impacto dinâmico de restrições ao comércio internacional sobre crescimento econômico e o preço relativo do capital. Essa análise é particularmente relevante para entender o caso brasileiro, que observou uma forte elevação do preço relativo do capital justamente em um período de substituição de importações e restrições ao comércio de bens de capital. O segundo ensaio procura olhar para as diferenças de renda per capita e do preço relativo do capital entre os países. Em consonância com trabalhos empíricos recentes, a análise enfatiza como diferenças em produtividade podem ser geradas e como isso pode impactar a dispersão de renda per capital e do preço relativo do capital.

yes / Although at the national level the relationship between financial development, human capital and economic growth has received some attention, this is largely an under-researched area at the sub-national level. Human capital may impact economic growth through the channel of innovation and along with financial development could be complementary or substitute in their relationship to economic growth. Also, human capital investment, enabled by the financial sector development, not only affects growth but also directly and indirectly affects poverty reduction through the channel of growth. In this study we examine the interaction between financial development, human capital and economic growth at the sub-national level using panel dataset covering 23 states of India for the period 1999-2013. Our analysis suggests that there is evidence of positive relationship between human capital and financial development to economic growth. / New journal still to be published by Oxford Academic Journals (OUP). Final draft suppressed for 24 months - check when journal published as to exact embargo - sm - 25/04/2018 © 2018 Oxford University Press. Reproduced in accordance with the publisher's self-archiving policy. This is a pre-copy-editing, author-produced PDF of an article accepted for publication in Journal of Banking, Finance and Sustainable Development following peer review. The definitive publisher-authenticated version [as above] is available online at: / The full text will be available at the end of the publisher's embargo, 2 years after publication.

Thesis (MBA.) -- University of Limpopo, 2015 / Current literature has produced mixed findings on the relationship between economic growth and employment. Given the priority accorded to job creation in contemporary South Africa, this study has become necessary. Although this phenomenon has been studied in the past, but current research that extend the phenomenon up to 2014 is missing in the literature, hence this dissertation set out to extend the literature to 2014 with a view to offering an advice to policy makers based on current findings. The study was done in South Africa and it covers the period from 1994 to 2014. The study used number of econometrics techniques or test to analyse the relationship between employment and economic growth. The Johansen co-integration test was used to determine the long run equilibrium relationship. The Granger causality test was used to determine the causal relationship or direction of causality between economic growth and employment. The co-integration test shows that there is a long run equilibrium relationship between employment and economic growth in South Africa. In both long run and short run, there is a positive relationship between employment and economic growth. This shows that there is certainty that economic growth would necessarily lead to job creation in the long run in South Africa, therefore the policy implication is that the government has to be active to plan ahead for a long run job creation mechanism. The research recommends amongst others that the government should design policies to encourage foreign direct investment inflow to South Africa as this will create more job in the long run.

Thesis (MBA.) -- University of Limpopo, 2016 / The post apartheid Republic of South Africa experiences several economic challenges that need urgent attention. These economic challenges include poverty, unemployment, slowing economic growth, high supply of unskilled labour, skills shortages, and an ever-escalating crime rate amongst others. In an attempt to resolve these economic challenges, the South African Government targeted the SMME sector as an economic empowerment vehicle for historically disadvantaged individuals. This follows the evident role of SMMEs in the creation of employment opportunities, poverty alleviation and contribution to GDP, amongst others. Over the years after the dawn of democracy, public procurement has been used as a tool for local economic development. The South African Government has therefore recently emphasised the empowerment of Township SMMEs through state procurement. The purpose of the research was to investigate the extent to which sourcing strategies provide a mechanism for public sector SCM to empower Township SMMEs. The qualitative methodology was used to collect and analyse the data using the case study design. The research revealed that procurement opportunities can be provided to Township SMMEs through several appropriate sourcing strategies, and other procurement methods. Nonetheless, the research further revealed that there are constraints that may hinder the successful empowerment of Township SMMEs through the application of the identified sourcing strategies and procurement methods. Such constraints have to be taken into account and addressed to ensure that the objectives behind the empowerment of Township SMMEs are realised.

My dissertation investigates financial sector development, economic growth and stability through the analysis of Chinese and international evidence. My first chapter is the introduction. The second chapter investigates the effects of Chinese financial and fiscal policies on the Chinese economic recovery in the 2008 economic stimulus Plan, covering the period from the Great Recession to 2014. This chapter explores the effects of the increase in bank credit growth with significant strain of banking health on firm-level output, employment and investment. The results demonstrate that the increase in government expenditure due to the fiscal policies has the significant effects on the very same firm-level indicators. The effects of such policies are shown to depend on firm characteristics such as size, liability ratio, profitability, ownership and industry. Regarding the dynamic effects of the policies, it is documented that the roles of Chinese financial and fiscal policies are effective but temporary on the Chinese economic recovery within about 2 years. In the third chapter, I investigate the effects of financial sector development on the growth volatility by using the data of 50 countries. The empirical results show that the aggregate growth volatility declines from 1997 to 2014 in the global perspective while the advanced countries have much smaller growth volatility than the developing countries. Using the dynamic panel threshold model, I find that financial sector development significantly reduces growth volatility, especially in its lower regime. Financial sector development magnifies the shock of inflation volatility towards growth volatility in its higher regime. My results reveal the importance of keeping financial sector development at an optimal level, which is beneficial to reduce aggregate fluctuations and dampen the inflation shocks. The fourth chapter examines the asymmetric roles of bank credit on the business cycle by using international evidence. The empirical results present that bank credit is pro-cyclical and amplifies the business cycle. This effect is larger in the economic peak and trough, which forms a U-shaped curve. The U-shaped influences are robust for alternative financial factors, including M2 supply and stock price. This paper contributes to explore the distinct roles of bank credit on the economy in different business cycle phases.

The theory of the Environmental Kuznets Curve (EKC) proposes to answer important questions regarding the connections between economic growth (development) and the environment. The theory postulates the environment need not always suffer as the economy develops, and it has generated strong support and opposition. Rather than attempting to defend or debunk EKC theory, this research challenges a practice engaged in by proponents and opponents alike. Simplifying assumptions are a necessary part of economic analysis, but this research shows that any assumptions may not be universally applicable. Utilizing, in turn, a simple one good model and then a more complicated two good model, it is discovered that the competing assumptions utilized by proponents and opponents of the EKC theory may both be valid, depending upon the conditions present in the system being analyzed.

Context: This study was founded on the notion that opportunities for individuals to improve their knowledge of and appreciation for design should be accessible to a broad population. If design is considered a driver in the development of environments that people encounter as part of their everyday activities, they may learn about design from those encounters. With a visual database of environments that include positive design examples, the population will benefit. Firstly, they have the capacity to use their informed encounters to contribute with some authority to discourse that shapes the future of their individual and collective surroundings. Secondly, they hold a greater expectation for design which can increase economic activity through design-related industry. Aim: The Australian post office (PostShop) was chosen as an example of an everyday environment that has the capacity to capture a large audience, due to an ever-increasing and proven catchment of the population-currently one in eighteen Australians will visit each day. To understand the role of design in the PostShop environment it is essential to understand the process through which the environment is developed, and those criteria that drive the final outcome. Therefore, the aim of this study is to investigate the extent to which the key development drivers of the PostShop influence the inclusion of design as a driver. Background: To enable this investigation to take place within an established context, a review of background literature was undertaken. This included themes supporting design literacy; the history of the PostShop built environment; brand; fitout and landlord guidelines for the built environment; global postal models; organisational behaviour; the development process; and the role of design in improving economic growth. / Methodology: The qualitative approach was used during the research undertaken in this study. Semi-structured interviews were held with participants from Australia Post and other (external) organisations to capture data relating to the development process of the Postshop, and the role of design in that process. This data was categorised and coded according to themes that emerged from the interview data. This allowed the reduction of data for analysis and presentation. The presentation is primarily rich narrative descriptions and includes responses from interview participants. Key findings: The data uncovered thirty-three individual drivers that have contributed to the development of the postal environment over time. These drivers were presented to illustrate their changing importance over time, from early traditional post offices through to the current PostShop. Seventeen drivers were considered to be relevant today. These were distilled to four chief driver groups that influence the current PostShop. In rank order, these are : financial motivation: including minimisation of rental outgoings, capital fitout costs and business downtime during refurbishment; and queue operation organisational behaviour: including authority of internal opinion: and competition and personal imprimatur brand strategy: including the desire to be a modern retailer; national and tiered fitout standards; and measurement of the built environment as a brand medium external authority: including postal and other industry models; government pressure; and landlord guidelines. / Conclusions: The aim of this study was to investigate the extent to which the key development drivers of the PostShop influence the inclusion of design as a driver. It was concluded that: all chief driver groups limit opportunities for design to contribute as a driver towards enhanced PostShop success. Despite being one of the leading international postal providers in terms of economic results, the chief drivers fail to embrace further potential for economic growth. The chief drivers also prevent the PostShop acting as an everyday environment that could successfully enhance the design literacy of the one million Australians that visit each day.

Small and Medium Enterprise (SMEs) have contributed significantly to the economic growth of Hong Kong and it is worth investigating how they prosper. This study was based on an examination of a sample of SMEs in the logistics industry operating during the economic crisis in Hong Kong. The factors influencing the growth of small firms are many, complex and erratic. The primary objective of this study was to test the determinants of SME growth. The research question addressed was how and to what extent the characteristics of the owner-manger, the nature of the firm, and company strategy, together with the economic and government factors, impact upon the growth of small business. This study was conducted in 2004, based on a survey of 102 SMEs within the logistics industry in Hong Kong SAR. By studying the factors contributing to the growth of SMEs, this research investigated and analyzed the characteristics of SMEs which were at least three years old during of the period 1998 - 2003. The appropriateness and the support of the determinants that affect SME growth were empirically analysed. The research design was quantitative in nature, testing various hypotheses and theories about the associations between perceived constructs. Outcomes were then compared with factual indicator data, subjected to multiple regression analysis and co-efficiency analysis. The results of the regression analysis showed no tremendous incongruity compared to research conducted in previous studies, although there were some factors associated significantly and some factors associated positively but insignificantly with firm growth. Even though some findings appeared to be inconsistent with previous studies, the preoccupation of researchers and policy-makers worldwide with matters relating to SME growth was recognized. / These empirical findings provide evidence that owner-managers may adopt different managerial styles and strategies as a consequence of the amount of growth desired, and the amount of risk they are willing to assume. Of the four main factors identified as influencing the growth of small firms - the characteristics of the owner-manager, the nature of the firm itself, the business strategies adopted, and the external factors concerned - all these four components need to be combined appropriately for growth to be achieved. This means that it is very difficult to identify whether or not a firm will be a success or a failure. The significances of these factors and their impacts have been addressed and reported in the study. Recommendations are made for business practitioners who are still trading, distinguishing between businesses with high and low growth expectations. Owner-managers are encouraged to acquire better management skills and qualifications to improve their managerial capabilities and experience. Appropriate strategic planning, technology advancement, education, training and government support are recommended for improving growth performance. In recognition of the need to improve small business growth, these research findings reveal that some of the factors considered important to success in Hong Kong small businesses are unique to the Hong Kong business environment. In this sense, the findings provide good references for scholars and policy-makers to design policies and provide assistance that are appropriate for use particularly in Hong Kong. Future research directions have been discussed and managerial implications for both practitioners and researchers have been suggested.

This study examines the extended family's impact on microenterprise growth at the individual level, where microenterprise operators have some control over constraints affecting their operations. Beyond the individual level, microenterprise operators have little control over constraints such as government policies and regulations, competition from import-substitution industries and exploitation by corrupt officials. Therefore, it is at the individual level that the extended family serves as a crucial parameter of microenterprise growth and the success with which MEs graduate from the informal sector into the mainstreams of small business. Within this domain, this author has examined the extended family and found that there is a need for policy makers and MED administrators to adopt a more culturally sensitive approach to microenterprise growth if the extended family is to be engaged as a partner in their efforts to support microenterprises as a source of income and employment generation, A central question posed is why most writers on microenterprise activities in Ghana have neglected the extended family as a factor that should be considered in the design of microenterprise growth strategies and policies? The answer to this question was explored in the process of data gathering for this thesis and the results are presented here, especially in chapter 3 below. Suffice it to note here that this neglect has many roots, not least of which is the proclivity of mainstream economics, modern administration practice and the objectivity of double entry accounting based documentation procedures to focus on measurable growth in the formal sectors of the economy and structural constraints such as the lack of finance, lack of market demand, lack of access to technology and government regulations. Consequently, a noticeable trend among these writers is that they rightly advocate finance be made accessible to microenterprises, however, few question whether the finance is effectively used towards microenterprise growth. This issue is crucial in the face of evidence from this study which shows that finance accessed towards microenterprise growth is often put to other uses that negate growth thus keeping microenterprises within the bounds of the informal sector as against graduating out of the informal sector. As a result, these writers have neglected the intimate relations between the extended family and microenterprises, and most importantly, the constraint that the extended family inflicts on microenterprise growth at the individual level of activity. This study, by targeting the growth of the individual microenterprise in the socio-cultural context in which this growth must be achieved, has highlighted the constraint that the extended family does pose on MED. However, the study also shows that these constraints are important not because there is anything inherently wrong with the extended family, but because the socio-economic and policy environment is not consistent with the positive role that the extended family can and should play in the graduation of microenterprises from the informal to the formal sector of the economy in Ghana.

<p>This paper examines the relationship between housing investments and economic growth. Through a literature review five different hypotheses are analysed to examine the effects of housing investments on economic growth. The studied effects include; direct effects, counter-cyclical effects, price effects and productivity effects through reduced mismatch between housing and labour markets, and finally effects on the productivity of workers. The conclusion is that the direct effects are only short term and the existence of counter-cyclical effects is doubtful. For the price effects and the effects on productivity there are less empirical evidence, but the effects are still considered significant. Keywords: housing investments, new construction, economic growth, effects 2</p>