曼昆《经济学原理》(宏观经济学分册)英文原版PPT课件——5productiongrowth.ppt

Investment from Abroad Governments can increase capital accumulation and long-term economic growth by encouraging investment from foreign sources. Investment from Abroad Investment from abroad takes several forms: Foreign Direct Investment Capital investment owned and operated by a foreign entity. Foreign Portfolio Investment Investments financed with foreign money but operated by domestic residents. Education For a country’s long-run growth, education is at least as important as investment in physical capital. In the United States, each year of schooling raises a person’s wage, on average, by about 10 percent. Thus, one way the government can enhance the standard of living is to provide schools and encourage the population to take advantage of them. Education An educated person might generate new ideas about how best to produce goods and services, which in turn, might enter society’s pool of knowledge and provide an external benefit to others. Education One problem facing some poor countries is the brain drain—the emigration of many of the most highly educated workers to rich countries. Property Rights and Political Stability Property rights refer to the ability of people to exercise authority over the resources they own. An economy-wide respect for property rights is an important prerequisite for the price system to work. It is necessary for investors to feel that their investments are secure. Free Trade Trade is, in some ways, a type of technology. A country that eliminates trade restrictions will experience the same kind of economic growth that would occur after a major technological advance. Free Trade Some countries engage in . . . . . . inward-orientated trade policies, avoiding interaction with other countries. . . . outward-orientated trade policies, encouraging interaction with other countries. Research and Development The advance of technological knowledge has led to higher standards of living. Most technological advance comes from private research by fi