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While all industrial nations have been plagued by the setback to economic growth since the mid-1970s, a wide range of variation marks the economic performance, policy outputs and policy outcomes of Western nations. The basic question addressed in this paper is the extent to which economic, socioeconomic and political variables account for the differences in economic performance, unemployment, public debt and the growth of social security expenditure. In general, the forces which shape public policies in periods of economic crisis tend to be different in character from the major determinants of policy-making in periods of prosperity. The analysis does not support the view that bourgeois and socialist governments produce clear-cut policy differences. It suggests that the major determinants of policies are the power relations in extra-parliamentary arenas, the level of national economic strength prior to the crisis, the extent to which 'solidaristic' values characterize the political culture, and the extent to which a correspondence exists between the power relationships in the political 'superstructure' and in the party system and industrial arenas. An expanding capitalist order is, in theory, not incompatible with low unemployment and a developed welfare state. However, the governments' room to manoeuvre is strongly restricted by political and technological developments. One of the major political restrictions is the `paradoxical' outcome of elections. [ABSTRACT FROM AUTHOR]

This paper (1) examines whether there is a bilateral relationship between HIV/AIDS and economic development; (2) estimates the impact of HIV/AIDS on economic development; and (3) identifies some of the factors affecting the spread of HIV/AIDS. Analyses are based on data from 39 sub-Saharan African countries for the period 1989-1998. HIV/AIDS negatively impacted economic development, with no evidence of a reciprocal relation. Expenditures on health and education as well as political freedom had positive impacts on development, but negative impacts on HIV/AIDS incidence. Expenditures on female education impacted development and HIV/AIDS incidence. [ABSTRACT FROM AUTHOR]

Over the past three decades, those advocating for arts funding have shifted their arguments. When the National Endowment of the Arts (NEA) was created in 1965, its supporters praised arts and culture for their uplifting qualities, and for their ability to counterbalance trends toward materialism and militarism. By the 1990s, arts advocates were far more likely to use instrumentalist arguments, showing that investment in arts and culture produce other desirable benefits, most notably economic development advances. This article reviews the changing discourse of arts advocacy in several ways: (1) by reviewing and coding Congressional debates on arts funding from 1965–2000, (2) reviewing arts coverage in the New York Times and selected arts periodicals during this same time period. Comparing this case to others in the literature on policy redefinition, the paper argues that cultural advocates have consciously reframed their arguments to broaden their appeal in the face new and more threatening opposition. [ABSTRACT FROM AUTHOR]

This paper investigates whether foreign direct investment (FDI) affects economic growth based on a panel of data for 84 countries over the period 1970-99. Both single equation and simultaneous equation system techniques are applied to examine this relationship. A significant endogenous relationship between FDI and economic growth is identified from the mid-1980s onwards. FDI not only directly promotes economic growth by itself but also indirectly does so via its interaction terms. The interaction of FDI with human capital exerts a strong positive effect on economic growth in developing countries, while that of FDI with the technology gap has a significant negative impact. [ABSTRACT FROM AUTHOR]

The theoretical section of this paper describes three mechanisms through which science in non-Western countries is institutionalized to follow the forms that are prevalent in the major industrial nations. The empirical section, which is based on a sample of 73 less developed countries (LDCs) and underdeveloped countries (UDCs) demonstrates that the findings are inconsistent with predictions made by theories of economic development and modernization. These theories predict a positive relationship between the degree of institutionalization and economic performance, but, for LDCs we find no such relationship; for the UDCs, it is even negative. Thus we conclude that institutional isomorphism and conformity to external rational myths are loosely coupled with internal economic efficiency. [ABSTRACT FROM AUTHOR]

Planning for economic development is one of the major preoccupations of governments as well as international agencies such as the United Nations and the World Bank. Construction and marketing are individually known to have an influence on the achievement of economic goals. Unfortunately, the combined effect of construction and marketing has never been explored explicitly before. Although the pursuit of economic development has been their common objective, both disciplines have always been examined in isolation. This paper does not, however, pretend that construction and marketing are the only two factors which influence economic growth. The purpose is to help bridge the gap between construction and marketing in world economic development. For this purpose, other factors which may have an equally important influence on economic growth would, of necessity, need to be isolated. The relationship construction and marketing have with world economic development is supported through a literature review. In adopting construction and marketing as the two primary thrusts for securing economic growth, four global perspectives have been identified: scenario A, a balanced view; scenario B, weighted towards construction; scenario C, weighted towards marketing; scenario D, a deficiency model. The balanced view in scenario A mirrors the characteristic feature typical of most developed countries where mature marketing practices and construction infrastructures can be found. Scenario B, where construction attracts more attention than marketing, models the emphasis given by the governments in most developing countries. Scenario C models an economy which lacks the construction facilities necessary for the effective conduct of marketing activities. Countries which have poor construction and marketing facilities can be categorized under the deficiency model in scenario D. Adequate construction works and marketing expertise are generally found to be lacking in these countries whi... [ABSTRACT FROM AUTHOR]

Policy makers have increasingly recognised the role which universities can play in economic growth in recent years. One consequence of this has been a dramatic growth in university research management systems in developed countries. The lack of such systems in African universities threatens to further widen their relative disadvantage in securing and managing external funding. Recent surveys demonstrate growing awareness of this among the universities themselves, and that support has been received from a range of international donors to address the problem. This, however, has not yet succeeded in the creation of sustainable long-term structures at institutional level. A more coherent approach to the problem will be required over the next decade, and a framework is suggested to guide this. [ABSTRACT FROM AUTHOR]

Quality of governance has been found to be significant in economic growth. We investigate, using a threshold technique, whether the quality of governance matters equally across all levels of economic development. We find that the quality of governance is most significant for only a subset of relatively poor countries, while education is most significant for the poorest countries, and region is most significant for the wealthiest. [ABSTRACT FROM AUTHOR]

In this article, we argue that there are strong reasons for using linear instead of exponential models when analysing post-war economic growth. Incorrect model specifications will lead to misinterpretations of the underlying economic reality and to erroneous economic forecasts. Our argument is based on an empirical investigation of real Gross Domestic Product per capita growth in 25 Organization for Economic Co-operation and Development (OECD) countries (and three country aggregates) during the post-war period using the Box-Cox transformation method. The conclusion is that per capita growth is generally (more or less) linear (and definitely not exponential) for the level of economic development represented by these countries. Based on this we argue that analyses of growth should use linear instead of exponential models. This change of model could give new insights into problems connected with economic growth. [ABSTRACT FROM AUTHOR]

The financial sector has always played a central role in economic development, but analysis of its precise role has been hampered by the emphasis on ‘real’ factors in the main stream of economic thought and the static nature of financial theory. Empirical studies confirm the importance of finance to economic development, but are indecisive on the efficaciousness of the widely advocated policies associated with financial liberalisation. To be successful, strategies for financial liberalisation must deal with problems generated by asymmetric information and have policies to promote competition, the disclosure of information and the maintenance of governmental integrity. [ABSTRACT FROM AUTHOR]

This article focuses on the regional economic development objectives and subsidization of local industry around the world. While the concern of national policymakers with the problem of lagging regions is of recent origin in most countries, the problem itself is an old one. It is therefore not surprising that many state and local governments as well as private-interest groups in the afflicted regions have traditionally attempted to attract industry by offering financial assistance of one form or another. Exemption from local property taxes, provision of site and building at nominal long-term rentals, and low-interest loans are just a few examples of the forms which local subsidization of industry may take. Not only has local subsidization been widely practiced for a long time, it has also been widely condemned. Economists have generally rejected it as an unwarranted interference with the efficiency of resource allocation. Not only has local subsidization been widely practiced for a long time, it has also been widely condemned. Eonomists have generally rejected it as an unwarranted interference with the efficiency of resource allocation.