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Value Knowledge, Institutional Essence and Economic Growth

Author

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  • Shangyi Zhang

Abstract

Knowledge can be divided into knowledge about technology and knowledge about value. The per capita distribution level of value knowledge determines the evolution of the system. Therefore, the essence of institution is value knowledge, and the evolution of institution depends on the variance of knowledge distribution per capita and the number of people. The economic system mapped by the level of value knowledge provides certainty for the introduction of economic technology, and finally achieves economic growth in the modern sense.

Suggested Citation

  • Shangyi Zhang, 2019. "Value Knowledge, Institutional Essence and Economic Growth," International Business Research, Canadian Center of Science and Education, vol. 12(2), pages 135-142, February.
    • Handle: RePEc:ibn:ibrjnl:v:12:y:2019:i:2:p:135-142
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    More about this item

    Keywords

    value knowledge; knowledge distribution; institutional essence; economic growth;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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