Basically economic growth depends upon the crucial factors like financial capital/investment, human capital and natural factors. The economic growth is cause and effect of these factors. The growth theories like endogenous model and exogenous model have discussed a lot on the economic growth and its measurement.
You may look at these two survey articles and a paper I presented at the World Congress of Econometric society.
1) https://www.researchgate.net/publication/247317482_Chapter_20_Growth_models_with_endogenous_population_A_general_framework?ev=prf_pub
2) https://www.researchgate.net/publication/5078587_Theories_of_Long-Run_Growth_Old_and_New?ev=prf_pub
3) https://www.researchgate.net/publication/23744912_Signalling_equilibrium_Intergenerational_mobility_and_long-run_growth
Let me know how it goes.
Dr. LK Raut
Article Chapter 20 Growth models with endogenous population: A gener...
Article Theories of Long-Run Growth: Old and New.
Article Signaling Equilibrium, Intergenerational Social Mobility and...
I think you can use efficient performance index ranking to measure the mutual relationships discussed above. the following are the suggested factors to consider:
1) Economic Growth: the factors are; GDP, Exchange rate/fiscal policy, interest rate/monetary policy, unemployment rate, inflation rate and level of stock market.
2)Financial Capital: you can consider the asset size, net income, capital adequacy, return on equity.
3) Human capital: This can be solve by using balanced score card.
4) Natural capital are the renewable resources available.
Thanks.
Thank you, M Kazeem. I have taken up, population, GNP, GDS, GDI, human capital and natural capital to study economic growth of India during post-Independence period and to forecast the future trends.
Sirs, i am very happy for finding researchers working in my desired area. Very happy and thankful to you all. SIrs, i need a suggestion from all of you. I am currently working on a topic" Capital Markets and Economic growth in Emerging Markets with special emphasis on BRIC-Countries". I am looking for the strong theoretical background which can back my study so that the analysis or the output would not be an observation without any theoretical support. I always wonder that the capital plays an important role in the process of growth. Many economists of different schools of thought also framed theories accordingly such as Solow, H-D etc. But then, my doubt here is that when the importance is given to the financial capital than the physical capital, the chances of growth is much higher. However, when we talk about the capital we always see from the point of physical capital alone. The basic fact is that where is money to procure this physical capital? what are the sources from which the capital can be generated? In current scenario where the world economies are experiencing a sea change in their growth over a period of time with the reforms. The sources of capital are not explored. Hence, is there any possibility to relate the theories of growth taking or replacing the physical capital with financial capital? I
Dear S Gupta, thanks for the comments. you have selected a good current topic for research. You know that J M Keynes has referred capital as two things: (i) invest able fund (financial capital) and (ii) capital goods ( physical capital). most of the economic growth theories focused on capital-output ratio and capital-labor ratio to measure the growth rate. Capital accumulation, demographic changes, technological changes, foreign trade, investment, natural resources, etc factors are being considered as determinants of economic growth. But basically economic growth depends , according to Keynes, on productivity of the economy (Y=Q) which is determined by labor-efficiency (P) and availability of natural resources (N) viz.(Q=Y= NP, Capital is being used to improve labor efficiency/productivity through technical changes, innovations, capital goods, etc factors and preservation and development of natural resources which are basic natural capital. To answer your questions, the invest able-fund/money/financial capital availability depends on domestic savings, foreign fund in-flow, money and capital markets; supply of capital goods depends on producing capacities of capital good producing industries. For your research, you may take either type of capital or both, depends on availability of data.
Thank you Dr. Arjun Pangannavar Sir for your valuable inputs and encouragement. I will surely incorporate these issues in my work. Thank you once again Sir.
Sir,
I would suggest Granger Causality test (bi-variate) / Co-integration (multi-variate) test
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