Abstract
The rate of economic growth can be influenced both by greater investment in productive resources (such as capital assets) and by increases in the productivity of these resources. Although investment in fixed capital has traditionally been identified as the most important determinant of growth, recent studies have shown that increases in capital account for less than half of observed growth, and that increases in productivity through technical innovation are the main determinant of competitiveness and growth.
Keywords
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
DTI (1995, 1996) Small Firms in Britain Reports, London: HMSO, Department of Trade and Industry.
Hodrick, R. and E. Prescott (1980) Post War US Business Cycles: An Empirical Investigation, Carnegie-Mellon Working Paper.
Ioannides, C., J. Laws, K. Matthews and B. Morgan (1995) ‘Business Cycle Analysis and Forecasting with a Structural Vector Autoregression Model for Wales’, Journal of Forecasting, vol. 14, pp. 251–65.
Mankiw, N. G., D. Romer and D. N. Weil (1992) A Contribution to the Empirics of Economic Growth’, Quarterly Journal of Economics, vol. 107, no. 2, pp. 407–35.
Morgan, B. (1992) ‘The Changing Relationship Between the Manufacturing and Service Sectors’, Welsh Economic Review, Autumn, pp. 45–52.
Morgan, B. and J. R. Shackleton (1990) ‘The Ups and Downs of Business Cycle Theory’, in J. R. Shackleton, New Thinking in Economics, Aldershot: Edward Elgar, pp. 88–108.
Romer, P. M. (1989) ‘Capital Accumulation in the Theory of Long Run Growth’, in Robert J. Barro, (ed.), Modern Business Cycle Theory, Cambridge, Mass.: Harvard University Press, pp. 5–127.
Romer, P. M. (1990) Human Capital and Growth: Theory and Revenue, Carnegie-Rochester Conference Survey on Public Policy, vol. 32, pp. 251–86.
Solow, R. M. (1956) ‘A Contribution to the Theory of Economic Growth’, Quarterly Journal of Economics, vol. 70, pp. 65–94.
Storey, D. (1994) Understanding the Small Business Sector, London and New York: Routledge.
‘Symposia: New Growth Theory’ (1994) Journal of Economic Perspectives, vol. 8, no. 1 (Winter).
Editor information
Editors and Affiliations
Copyright information
© 1998 Brian Morgan
About this chapter
Cite this chapter
Morgan, B. (1998). Regional Issues in Inward Investment and Endogenous Growth. In: Hill, S., Morgan, B. (eds) Inward Investment, Business Finance and Regional Development. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-14181-4_2
Download citation
DOI: https://doi.org/10.1007/978-1-349-14181-4_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-14183-8
Online ISBN: 978-1-349-14181-4
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)