IDEAS home Printed from https://ideas.repec.org/a/ksp/journ6/v3y2016i3p482-489.html
   My bibliography  Save this article

On Behavioral Macroeconomics, Globalization, and Economic Growth

Author

Listed:
  • Victor H. ROSAS-MARTINEZ

    (Universita di Siena, Italy)

Abstract

We assess theoretically the effect of forming a free trade union on the total production of a nation, where such effects are caused by the absorption of technologies through different channels. A popular metaphor describes the people as crabs in a bucket because when one crab tries to scape, the others pull it down avoiding a possible way out for all of them. Given this knowledge, posteriorly and independently of the income inequality levels, we extend our analyses to consider the effect of envy in a macroeconomic level on the total production, and draw the implications which this phenomenon has on the formation of free trade unions. We make strategic policy recommendations to allow the achievement of a globalization that benefits each member nation, where we show that the great trade union might have to start in certain order, with gradual and charitable subregional agreements, seasoned with education promotion and possibly a non restricted ideas employment.

Suggested Citation

  • Victor H. ROSAS-MARTINEZ, 2016. "On Behavioral Macroeconomics, Globalization, and Economic Growth," Journal of Economics Bibliography, KSP Journals, vol. 3(3), pages 482-489, September.
    • Handle: RePEc:ksp:journ6:v:3:y:2016:i:3:p:482-489
    as

    Download full text from publisher

    File URL: http://www.kspjournals.org/index.php/JEB/article/download/991/1046
    Download Restriction: no
    File URL: http://www.kspjournals.org/index.php/JEB/article/view/991
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2004. "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development," Journal of Economic Growth, Springer, vol. 9(2), pages 131-165, June.
    2. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    3. Jakob B. Madsen, 2009. "Trade Barriers, Openness, and Economic Growth," Southern Economic Journal, John Wiley & Sons, vol. 76(2), pages 397-418, October.
    4. Rocha, André Barreira da Silva & Laruelle, Annick & Zuazo Garín, Peio, 2011. "Replicator Dynamics and Evolutionary Stable Strategies in Heterogeneous Games," IKERLANAK info:eu-repo/grantAgreeme, Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I.
    5. Vamvakidis, Athanasios, 1998. "Regional Integration and Economic Growth," The World Bank Economic Review, World Bank, vol. 12(2), pages 251-270, May.
    6. Ugo Pagano, 2007. "Cultural globalisation, institutional diversity and the unequal accumulation of intellectual capital," Cambridge Journal of Economics, Oxford University Press, vol. 31(5), pages 649-667, September.
    7. Grossman, Gene M. & Helpman, Elhanan, 1991. "Trade, knowledge spillovers, and growth," European Economic Review, Elsevier, vol. 35(2-3), pages 517-526, April.
    8. Elvio Accinelli & Silvia London & Lionello F. Punzo & Edgar J. Sanchez Carrera, 2010. "Dynamic Complementarities, Efficiency and Nash Equilibria for Populations of Firms and Workers," Journal of Economics and Econometrics, Economics and Econometrics Society, vol. 53(1), pages 90-110.
    9. Lal, Deepak & Rajapatirana, Sarath, 1987. "Foreign Trade Regimes and Economic Growth in Developing Countries," The World Bank Research Observer, World Bank, vol. 2(2), pages 189-217, July.
    10. Edgar Carrera, 2012. "Imitation and evolutionary stability of poverty traps," Journal of Bioeconomics, Springer, vol. 14(1), pages 1-20, April.
    11. Pagano, Ugo, 2011. "Interlocking complementarities and institutional change," Journal of Institutional Economics, Cambridge University Press, vol. 7(3), pages 373-392, September.
    12. Durlauf,S.N., 2003. "The convergence hypothesis after 10 years," Working papers 6, Wisconsin Madison - Social Systems.
    13. Accinelli, Elvio & Carrera, Edgar J. Sánchez, 2012. "Corruption driven by imitative behavior," Economics Letters, Elsevier, vol. 117(1), pages 84-87.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rosas-Martinez, Victor H., 2015. "On Behavioral Macroeconomics, Globalization, and Economic Growth," MPRA Paper 70751, University Library of Munich, Germany.
    2. Maruta, Admasu Asfaw & Banerjee, Rajabrata & Cavoli, Tony, 2020. "Foreign aid, institutional quality and economic growth: Evidence from the developing world," Economic Modelling, Elsevier, vol. 89(C), pages 444-463.
    3. Aribah Aslam, 2020. "The hotly debate of human capital and economic growth: why institutions may matter?," Quality & Quantity: International Journal of Methodology, Springer, vol. 54(4), pages 1351-1362, August.
    4. Rosas-Martinez, Victor H., 2016. "Expectations Over Durable Assets: How to Avoid the Formation of Value Bubbles," MPRA Paper 75350, University Library of Munich, Germany.
    5. Kutuk, Yasin, 2022. "Inequality convergence: A world-systems theory approach," Structural Change and Economic Dynamics, Elsevier, vol. 63(C), pages 150-165.
    6. Lederman, Daniel & Saenz, Laura, 2005. "Innovation and development around the world, 1960-2000," Policy Research Working Paper Series 3774, The World Bank.
    7. Carine Nourry, 2012. "Dasgupta, D.: Modern growth theory," Journal of Economics, Springer, vol. 105(1), pages 97-100, January.
    8. Huy Quang Doan, 2019. "Trade, Institutional Quality and Income: Empirical Evidence for Sub-Saharan Africa," Economies, MDPI, vol. 7(2), pages 1-23, May.
    9. Shaukat, Badiea & Zhu, Qigui & Khan, M. Ijaz, 2019. "Real interest rate and economic growth: A statistical exploration for transitory economies," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 534(C).
    10. Andrea Asoni, 2008. "Protection Of Property Rights And Growth As Political Equilibria," Journal of Economic Surveys, Wiley Blackwell, vol. 22(5), pages 953-987, December.
    11. Sabrina Auci & Laura Castellucci & Manuela Coromaldi, 2021. "How does public spending affect technical efficiency? Some evidence from 15 European countries," Bulletin of Economic Research, Wiley Blackwell, vol. 73(1), pages 108-130, January.
    12. Philipp Heimberger, 2022. "Does economic globalisation promote economic growth? A meta‐analysis," The World Economy, Wiley Blackwell, vol. 45(6), pages 1690-1712, June.
    13. Mhuru, Raviro Mercy & Daglish, Toby & Geng, Heng, 2022. "Oil discoveries and innovation," Energy Economics, Elsevier, vol. 110(C).
    14. Andrés Rodríguez-Pose & Roberto Ganau, 2022. "Institutions and the productivity challenge for European regions," Journal of Economic Geography, Oxford University Press, vol. 22(1), pages 1-25.
    15. Åsa Johansson, 2016. "Public Finance, Economic Growth and Inequality: A Survey of the Evidence," OECD Economics Department Working Papers 1346, OECD Publishing.
    16. Amit Nandan & Hrushikesh Mallick, 2022. "Do growth-promoting factors induce income inequality in a transitioning large developing economy? An empirical evidence from Indian states," Economic Change and Restructuring, Springer, vol. 55(2), pages 1109-1139, May.
    17. Argentino Pessoa, 2005. "“Ideas” driven growth: the OECD evidence," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 4(1), pages 46-67, April.
    18. Sefa Awaworyi Churchill & Mehmet Ugur & Siew Ling Yew, 2017. "Does Government Size Affect Per-Capita Income Growth? A Hierarchical Meta-Regression Analysis," The Economic Record, The Economic Society of Australia, vol. 93(300), pages 142-171, March.
    19. Sequeira, Tiago & Morão, Hugo, 2020. "Growth accounting and regressions: New approach and results," International Economics, Elsevier, vol. 162(C), pages 67-79.
    20. Drine, Imed, 2012. "Institutions, governance and technology catch-up in North Africa," Economic Modelling, Elsevier, vol. 29(6), pages 2155-2162.

    More about this item

    Keywords

    Trade agreements; Behavioral Macroeconomics; Economic Growth; Policy Design;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ksp:journ6:v:3:y:2016:i:3:p:482-489. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bilal KARGI (email available below). General contact details of provider: http://www.kspjournals.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.