In both Nepal and Sri Lanka the transition from war to durable peace has been painful and is ongoing and not devoid of pitfalls as has been the case elsewhere in the World as well. In the case of Nepal underdevelopment of the vast hinterland has been widely acknowledged as the primary cause of the armed conflict.
Economic Fluctuations and Growth An inter-country aggregate production function is estimated using annual data for the post-war period drawn from the Group-of-Five G-5 countries: It is assumed that all countries have the same underlying production function, not in terms of the measured outputs and inputs, but in terms of efficiency equivalent units of outputs and inputs.
The measured quantities of outputs and inputs of each country may be converted into efficiency-equivalent quantities of outputs and inputs by the multiplication of country and commodity-specific and time-varying augmentation factors.
These augmentation factors are estimated simultaneously with the parameters of the aggregate production function. Within this framework, the traditional assumptions for the measurement of productivity--constant returns to scale, neutrality of technical progress and profit maximization--are tested and all are rejected.
Additional hypotheses about the nature of technical progress are also tested. It is found that technical progress may be represented as purely capital augmenting.
In particular, the rate of augmentation is estimated at between 14 and 16 percent per annum for France, West Germany and Japan, and between 8 and 10 percent per annum for the U.
It is also found that technical progress is capital-saving rather than labor-saving and is therefore unlikely to be a cause of structural unemployment. Using the estimated production function parameters, a growth-accounting exercise is carried out and the results are compared with those obtained from the conventional approach.
Technical progress is found to be the most important source of growth, accounting for more than 50 percent, followed by the growth of capital input. Together they account for more than 75 percent of the growth of real output in the Group-of-Five G-5 countries in the period under study.
An international and intertemporal comparison of the productive efficiencies is also undertaken. It is found that the United States had the highest level of overall productive efficiency for the whole period under study.
However, the productive efficiencies of France, West Germany and Japan rose rapidly from less than 40 percent of the U.
There is thus some evidence of convergence.The difference in unemployment rates reflects, at least in part, the older age profile of veterans who served during Gulf War era I.
Younger people--whether veterans or nonveterans--tend to have higher unemployment rates than older people. Unemployment. With the end of the World War II, unemployment was one of the greatest difficulties the Japanese economy faced.
There were million jobless people (Nakamura ). This paper analyzes the reasons why the U.S. economy flourished successfully after the WWII compared to the pre-war periods. It examines how pre-war, the stock market crashed due to the overwhelming amounts of speculative trading and investment and how the market and America's economy went down.
Country Comparison pages are generally given in descending order - highest to lowest - such as Population and Area.
The two exceptions are Unemployment Rate and Inflation Rate, which are in ascending - lowest to highest - order. The post–World War II economic expansion, also known as the postwar economic boom, the long boom, and the Golden Age of Capitalism, was a period of strong economic growth beginning after World War II and ending with the –75 recession.
3 Knotek updated Okun’s analysis, which covered the period, to and came to much the same conclusion. Specifically, real output growth of about % is consistent with a stable unemployment rate.