Contributions to the Understanding of the Empirical Determinants of Growth and Development
This set of contributions includes those about the deeply historically rooted determinants of development as well as more proximate determinants of growth, development and inequality. Particular attention has been given to the effects of Institutions (in the sense of Douglas North, 1991) to differences in growth and development and some of their components or determinants, such as technology, human capital, natural resources protection, renewable energies and also the tourism sector. Development is a multidimensional concept and as such different dimensions from the sectoral share of a given industry to country-risk, democracy indexes, energy transitions, income inequality have been related among each other and/or with growth and development.
Among the main contributions, there are the following:
- tourism intensity is a proximate (positive) determinant of economic growth;
- country-risk measures are proximate (negative) determinants of tourism specialization, electricity production and education;
- genetic diversity is a (hump-shaped related) deeply historically-rooted determinant of pre-colombian technological progress;
- income is not significantly related with democracy when cross-country correlations and heterogeneity are taken into account;
- democracies tend to make more cleaner energies transitions than less democratic countries, i.e. the democracies' indexes clearly influence the effect income growth has on the escallation of the energy ladder, also democracies tend to promote the investment in modern renewable energies;
- human capital contributes to increase income inequality and tend to confirm theoretical preditions from the directed technical change literature;
- the erosion effect from technological progress to human capital (from experience) has been empirically demonstrated;
- government subsidies to education only enhance economic growth conditional on unemployment and this relationship is negatively influenced by unemployment;
- human capital high-tech ratios are hump-shaped when related with the level of income.