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Public organizations involved in planning and implementation of developmental activity, education, research and development, as well as private firms delivering professional services and operating in a rapidly changing socio-econo...
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Public organizations involved in planning and implementation of developmental activity, education, research and development, as well as private firms delivering professional services and operating in a rapidly changing socio-economic environment are often concerned mainly with innovation, problem-solving and learning rather than with the production of any tangible outputs. The income streams of such organizations also often stem from environmental support rather than from a sale of widgets. Sustaining developmental activity in part requires maintaining such organizations at a high level of productivity, which calls for special design considerations that this paper attempts to delineate. A formal model of the production, knowledge acquisition and governance functions of an innovation organization is developed and experimented with through computer simulation using the heuristical approach of system dynamics. The analysis suggests that professional competence in organizations may atrophy, eventually leading to their demise, due to the development of a governance system that is largely driven by manifest authority, unless a concerted effort is made to preserve collegial decision roles. In terms of organizational design, this translates into considering constituents other than those used normally for creating mechanistic and organic components of organizational structure. Since professional competence often emanates from collegial rather than manifest processes, an important aspect of the design is to sustain collegial roles. Since collegial roles are undefined, their maintenance calls for placing constraints on manifest roles with prolific expansion potential. A promising design constituent for sustaining an appropriate governance system for an innovation organization appears to be a chartering process that should create an organizational magna carta clearly stating the limitations of the manifest roles. Other possible entry points into the system, albeit external, include bringing in leadership perspectives and linking with market forces that should allow the curtailment of prolific expansion of manifest roles.
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Economic development (EcD) introduces new goods and services into a region s portfolio of traded products or expands the productive capabilities of existing members of a region's economic base. And EcD organizations are intermedia...
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Economic development (EcD) introduces new goods and services into a region s portfolio of traded products or expands the productive capabilities of existing members of a region's economic base. And EcD organizations are intermediaries that reduce risk and transaction costs by honestly representing their community and region to potential business investors. There are five closely related yet separate development practices. Four (community, workforce, housing, and commercial and industrial real estate development) create long-term regional EcD assets. While those assets are required for EcD to occur, they are insufficient to generate EcD outputs. Investments resulting in the production of goods and services are also necessary. EcD is a regional activity because the markets for three of the development practices are regional: labor, housing, and commercial and industrial real estate. Finally, EcD is both an art and a science. The art of EcD is connecting the dots that others cannot see. The science is getting deals done. Together they create investment momentum that builds optimism, generates trust, and mitigates risk.
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This introduction reviews some of the issues and controversies within development economics over the last half century. Particular attention is given to the status of development economics as a sub-discipline of economics and to t...
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This introduction reviews some of the issues and controversies within development economics over the last half century. Particular attention is given to the status of development economics as a sub-discipline of economics and to the relationship between theoretical and empirical contributions. There is a focus on the controversies which exist within the economics profession over some very important theoretical and empirical issues relating to the analysis of the economies of developing countries and their interaction with the international economy. A critical discussion of the proposition that 'development economies' is actually little more than 'the economics of developing countries' raises the questions of the nature of development economics and whether it is at a 'crossroads'. The introduction concludes with brief overviews of the five articles which follow and some reflections on the future of development economics.
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Financial systems are complex and may support economic growth differently at various stages of economic development. This study of 90 countries extends the financial development-economic growth literature by using four proxies of ...
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Financial systems are complex and may support economic growth differently at various stages of economic development. This study of 90 countries extends the financial development-economic growth literature by using four proxies of financial development (banking, stock market, bond market and insurance), and considering a country's level of economic development, on both a full and pre-global crisis sample. As expected financial markets have different effects on growth where the level of economic development vary. Policy makers should find that the insurance sector offers the most benefit for economic growth at all levels of development. Stock markets promote growth for middle income countries. Similarly bond markets promote growth with middle and high income countries. Some bond market and stock market results differed in the pre-crisis sample. Policies which promote trade but limit other areas such as inflation, government consumption and crises, should also support growth. (C) 2019 The Society for Policy Modeling. Published by Elsevier Inc. All rights reserved.
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This paper explores a number of key issues in Development Economics which should be central concerns of contemporary development debates but which rarely attract the attention they deserve. It argues that there were fundamental in...
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This paper explores a number of key issues in Development Economics which should be central concerns of contemporary development debates but which rarely attract the attention they deserve. It argues that there were fundamental insights in much of the early theoretical work of the 'first generation' of development economists, including the Latin American structuralists, that remain important. It then discusses the view that much of this earlier work is in danger of being ignored, forgotten or for various ideological reasons, airbrushed out of history. Recent examples include the omission of Latin American structuralism from recent editions of otherwise highly regarded texts, the omission of any reference to Harrod or to Domar in another recently published book which purports to discuss the evolution of growth theory, and a third book focusing on Economic Growth which excludes both Harrod and Domar and gives Arthur Lewis only one mention. The main conclusion is that Development Economics has moved too far away from its core competencies, and that a move 'back to basics' is long overdue.
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Research into tax increment financing (TIF) effectiveness has yielded mixed results, often under extensive controls. Until recently, no study had considered or controlled for the potential effects of internal management practices,...
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Research into tax increment financing (TIF) effectiveness has yielded mixed results, often under extensive controls. Until recently, no study had considered or controlled for the potential effects of internal management practices, including preproject planning and postimplementation performance measurement on TIF performance. This study draws on evidence from 72 TIF projects in the Dallas-Fort Worth (DFW) Metroplex to subject the recently proposed administrative theory of TIF performance to empirical validation. Regression analysis is used to determine the correlation between two key TIF district management practices (preimplementation risk assessment and postimplementation performance measurement) and project performance. The authors empirically examine differences in management practices across TIF districts within the same regional economy, and findings lend support to the theory that TIF management practices play an important role, alongside other factors, in determining project performance.
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This study aimed to investigate the influences of the formation of Pars Special Economic Energy Zone on Kangan city development process. Methods of study in terms of objective is Practical and in terms of data collection is descri...
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This study aimed to investigate the influences of the formation of Pars Special Economic Energy Zone on Kangan city development process. Methods of study in terms of objective is Practical and in terms of data collection is descriptive and the type of survey. The study statistical community consisted of experts aware of the study issue. Total 196 samples were selected randomly from the statistical community. Data is collected by Questionnaire. Questionnaire validity was confirmed by normative validity method and its reliability was confirmed through Cronbach's alpha. The method of data analysis is as mean test and Friedman test. In this study, four factors have been studied as indicators of development. These factors include economic, social, cultural and environmental factors. To extract development parameters, the literature and experts were used. The research hypotheses were tested using the mean test that all of them were approved and finally the Friedman test was used to rank the factors that the test results showed that they do not have the same priority. The results show that the formation of Pars Special Economic Zone had the most effect on economic indicators and the least on cultural ones.
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It has become increasingly difficult to define progressive municipalities and progressive economic development. Conceptions of “local economic development” tied to neoliberal agendas are often narrow, focusing on efforts to offs...
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It has become increasingly difficult to define progressive municipalities and progressive economic development. Conceptions of “local economic development” tied to neoliberal agendas are often narrow, focusing on efforts to offset perceived disadvantages of a location. Many traditional incentive policies result in a transfer of wealth from the public to the private sector. In this article, we consider whether the introduction of progressive economic development policies into the present neoliberal context might result in improved outcomes in terms of increased equity and democratic empowerment. However, progressive policies in one sector of intervention can yield nonprogressive outcomes in another. We conclude that progressive economic development policies are likely an oxymoron and recommend a complete reconceptualization of what “economic development” means.
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Purpose - The aim of this paper is to provide a critical evaluation of the potential of new institutional economics (NIE) in third world development. Design/methodology/approach - The paper reviews various theories under NIE from ...
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Purpose - The aim of this paper is to provide a critical evaluation of the potential of new institutional economics (NIE) in third world development. Design/methodology/approach - The paper reviews various theories under NIE from both conceptual and empirical perspectives. It then reviews the various definitions of institutions and show that institutions are essential to overcome problems of information and uncertainty. Findings - The review finds that weak institutions can undermine development and hence governments in developing countries should strengthen their institutions to provide greater scope for efficient functioning of markets. Where the market does not work owing to high transactions costs, traditional institutions of collective action and group decision making can work and hence need to be recognised. Research limitations/implications - The major implications of the paper is that in developing countries, a clear understanding of various institutions such as user groups, inter-linked credit markets, rotational irrigation etc. is needed before they are replaced or modified by other institutions. The main limitations of NIE are that there can be capture by elites of various institutional innovations in rural areas, and that it does not explicitly consider income distribution and uncertainty which are glossed over and hence remain areas for future research. Originality/value - This paper critically reviews the various institutional environments that developing countries face in addressing development issues.
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Purpose - The purpose of this paper is to test the hypothesis that there exists a positive link between financial development and economic growth in island economies.
Design/methodology/approach - To study this relationship both ...
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Purpose - The purpose of this paper is to test the hypothesis that there exists a positive link between financial development and economic growth in island economies.
Design/methodology/approach - To study this relationship both static and dynamic panel data techniques (GMM) are used for a sample of 20 island economies over a period of 22 years. Findings - Results from the fixed effect estimates show that financial development has a positive contribution on the output level of the islands. The positive link is also validated using GMM panel estimates and interestingly the presence of dynamics in the modelling is detected. Originality/value - This research narrows the gap that exists in literature as much of the research in this field deals with only developed countries and very few with developing countries. To the best of the authors' knowledge, no studies have looked into a set of island economies - this study is the first of its kind.
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