The Hypothesis of Jobless Economic Growth in the Global Triad Countries

Piotr Misztal

DOI: http://dx.doi.org/10.12775/EQUIL.2014.020

Abstract


The aim of the study is to analyze the hypothesis of jobless economic growth in economic theory and in the Global Triad countries (U.S. , EU-15, Japan, China , India). In the article the research method based on the literature study in the field of macroeconomics and international finance were used, as well as econometric methods (Ordinary Least Squares). All the statistics used in the study had an annual frequency and covered the period from 1990 to 2012. These data came from the statistical database of the Business Membership and Research Association – The Conference Board Total Economy Database. On the basis of the study the phenomenon of jobless economic growth in China and India was revealed. However, in the case of the USA, the EU-15 and Japan the positive impact of economic growth on changes in employment was confirmed.


Keywords


economic growth, employment, Okun 's law

Full Text:

PDF

References


Altman M. (2003), Jobless or Job Creating Growth? Some preliminary thoughts, Paper presented at the TIPS/ DPRU Annual Forum, 8 – 10 September.

Ark B., Frankema E., Duteweerd H. (2004), Productivity and Employment Growth: An Empirical Review of Long and Medium Run Evidence, Groningen Growth and Development Centre, May.

Barczyk R. (2006), Morfologia cykli koniunkturalnych w gospodarkach rynkowych i w systemach okresu transformacji [in:] Barczyk R., Kąsek L., Lubiński M., Marczewski K., Nowe oblicza cyklu koniunkturalnego, PWE, Warszawa.

Choi Ch. (2007), The Employment Effect of Economic Growth: Identifying Determinants of Employment Elasticity, “FTA, Regional Integration, and Development”, Busan, Korea, December 18-19.

Islam R. (2010), The Challenge of Jobless Growth in Developing Countries: An analysis with Cross-country Data, Bangladesh Institute of Development Studies, Occasional Paper Series, No 1.

Kapsos S. (2005), The employment intensity of growth: Trends and macroeconomic determinants, International Labour Office, Employment Strategy Papers, No 12.

Khemraj T., Madrick J., Semmler W. (2006), Okun’s Law and Jobless Growth, Schwartz Center for Economic Policy Analysis, No 3.

Marczewski K. (2006), Charakterystyka krótkookresowych zmian cyklicznych w Polsce po 1995 r. [in:] Barczyk R., Kąsek L., Lubiński M., Marczewski K., Nowe oblicza cyklu koniunkturalnego, PWE, Warszawa.

Onaran Ö. (2008), Jobless growth in the Central and Eastern European Countries, Political Economy Research Institute, Working Paper Series, No 165.

Saget C. (2000), Can the level of employment be explained by GDP growth in Transition Countries (theory versus the quality of data), International Labour Office, Development Policy Group, Geneva.

The Conference Board Total Economy Database (2012), New York, http://www.conference-board.org/data/economydatabase.








p-ISSN 1689-765X
e-ISSN 2353-3293

Partnerzy platformy czasopism