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79-628: The Jatobá Hydroelectric Power Plant will be built on the Tapajós river in the state of Pará, the second largest hydroelectric plant in the state. The reservoir will cover 64,600 hectares (160,000 acres). The plant and reservoir will affect the municipalities of Itaituba and Jacareacanga . The dam will be just upstream from the Sawré Muybu Indigenous Territory . It would flood large areas of Munduruku territory, and of land used by traditional ribeirinhos communities. The official estimate

158-734: A change in the Constitution—and the type of institutions created by that change—does not necessarily create a change in political power if the economic powers of that society are not aligned with the new set of rule of law institutions. In England, a dramatic increase in the state's fiscal capacity followed the creation of constraints on the crown, but elsewhere in Europe increases in state capacity happened before major rule of law reforms. There are many different ways through which states achieved state (fiscal) capacity and this different capacity accelerated or hindered their economic development. Thanks to

237-660: A condition known as the Malthusian trap . The rapid economic growth that occurred during the Industrial Revolution was remarkable because it was in excess of population growth, providing an escape from the Malthusian trap. Countries that industrialized eventually saw their population growth slow down, a phenomenon known as the demographic transition . Increases in productivity are the major factor responsible for per capita economic growth—this has been especially evident since

316-459: A developing economy. Mortality decline triggers greater investments in individual human capital and an increase in economic growth. Matteo Cervellati and Uwe Sunde and Rodrigo.R Soares consider frameworks in which mortality decline has an influence on parents to have fewer children and to provide quality education for those children, as a result instituting an economic-demographic transition. The relationship between health and economic growth

395-581: A log-linear relationship to average years of schooling, which is consistent with the log-linear relationship between workers' personal incomes and years of schooling in the Mincer model . Eric Hanushek and Dennis Kimko introduced measures of students' mathematics and science skills from international assessments into growth analysis. They found that this measure of human capital was very significantly related to economic growth. Eric Hanushek and Ludger Wößmann have extended this analysis. Theodore Breton shows that

474-558: A point increases in the amount of capital per worker are an important cause of economic output growth. Capital is subject to diminishing returns because of the amount that can be effectively invested and because of the growing burden of depreciation. In the development of economic theory, the distribution of income was considered to be between labor and the owners of land and capital. In recent decades there have been several Asian countries with high rates of economic growth driven by capital investment. The work week declined considerably over

553-555: A series of inquiries undertaken by the parliamentary Business, Energy and Industrial Strategy Committee , which argues that the UK Government "has a big job to do in helping businesses survive, stimulating economic growth and encouraging the creation of well-paid meaningful jobs". Policymakers and scholars frequently emphasize the importance of entrepreneurship for economic growth. However, surprisingly few research empirically examine and quantify entrepreneurship's impact on growth. This

632-419: A small military base was installed. Among the most relevant people associated to the foundation of Itaituba, one of remarkable importance is Joaquim Caetano Corrêa, because of its pioneer work on the exploration of the tapajonic region, being even regarded as the founder of the municipally seat. Itaituba depended on the parish of Pinhel until 1853, when it was transferred to the jurisdiction of Boim. The city

711-416: Is also crucial. Protection from the shocks produced by illness and death, are usually taken care of within a country’s social insurance system. In areas such as Sub-Saharan Africa, where the prevalence of HIV and AIDS , has a comparative negative impact on economical development. It will be interesting to see how research in the areas of health in near future uncover how the world will be performing living with

790-534: Is causal. They show that the level of students' cognitive skills can explain the slow growth in Latin America and the rapid growth in East Asia. Joerg Baten and Jan Luiten van Zanden employ book production per capita as a proxy for sophisticated literacy capabilities and find that "Countries with high levels of human capital formation in the 18th century initiated or participated in the industrialization process of

869-457: Is difficult to measure since it is created at home, at school, and on the job. Economists have attempted to measure human capital using numerous proxies, including the population's level of literacy, its level of numeracy, its level of book production/capita, its average level of formal schooling, its average test score on international tests, and its cumulative depreciated investment in formal schooling. The most commonly-used measure of human capital

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948-465: Is due to endogeneity—forces that drive economic growth also drive entrepreneurship. In other words, the empirical analysis of the impact of entrepreneurship on growth is difficult because of the joint determination of entrepreneurship and economic growth. A few papers use quasi-experimental designs, and have found that entrepreneurship and the density of small businesses indeed have a causal impact on regional growth. Another major cause of economic growth

1027-607: Is estimated at US$ 4.4 billion. Provisional measure 558 of 5 January 2012, which changed the boundaries of various conservation units in the Amazon region, removed an area of about 19,915 hectares (49,210 acres) from the Tapajós Environmental Protection Area due to the planned Jatobá Hydroelectric Power Plant. The measure reduced the size of other conservation units including the Amazônia National Park, and

1106-448: Is further nuanced by distinguishing the influence of specific diseases on GDP per capita from that of aggregate measures of health , such as life expectancy Thus, investing in health is warranted both from the growth and equity perspectives, given the important role played by health in the economy. Protecting health assets from the impact of systemic transitional costs on economic reforms, pandemics, economic crises and natural disasters

1185-439: Is influenced by the size of the economy. The relation between GDP growth and GDP across the countries at a particular point of time is convex. Growth increases as GDP reaches its maximum and then begins to decline. There exists some extremum value. This is not exactly middle-income trap. It is observed for both developed and developing economies. Actually, countries having this property belong to conventional growth domain . However,

1264-444: Is linear, which eventually reduces living standards to the point of triggering a population die off. The Malthusian theory also proposes that over most of human history technological progress caused larger population growth but had no impact on income per capita in the long run. According to the theory, while technologically advanced economies over this epoch were characterized by higher population density, their level of income per capita

1343-507: Is located at latitude 04º16'34" S and longitude 55º59'01" W, on the left bank of the Tapajós River. It contains part of the 2,382,000 hectares (5,890,000 acres) Mundurucu Indigenous Territory , established in 2004. The municipality also contains part of the 178,173 hectares (440,280 acres) Sawré Muybu Indigenous Territory , recognized by Funai in April 2016. The municipality contains part of

1422-425: Is not the absence of illness, but the opportunity for people to biologically develop to their full potential their entire lives It is established that human capital is an important asset for economic growth, however, it can only be so if that population is healthy and well-nourished. One of the most important aspects of health is the mortality rate and how the rise or decline can affect the labour supply predominant in

1501-430: Is not the same in all countries. This measure also presumes that human capital is only developed in formal schooling, contrary to the extensive evidence that families, neighborhoods, peers, and health also contribute to the development of human capital. Despite these potential limitations, Theodore Breton has shown that this measure can represent human capital in log-linear growth models because across countries GDP/adult has

1580-434: Is termed the business cycle . Generally, according to economists, the ups and downs in the business cycle can be attributed to fluctuations in aggregate demand . In contrast, economic growth is concerned with the long-run trend in production due to structural causes such as technological growth and factor accumulation. Increases in labor productivity (the ratio of the value of output to labor input) have historically been

1659-523: Is that 1,303 people will be affected by the reservoir. The plant will be part of the proposed 12,000 megawatts (16,000,000 hp) Tapajós hydroelectric complex on the Tapajos and Jamanxim rivers. Others are the São Luiz do Tapajós (6,133 MW), Cachoeira dos Patos (528 MW), Jamanxim (881 MW) and Cachoeira do Cai (802 MW) dams, all under study, as well as the less advanced proposals for

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1738-446: Is the GDP of the entire country divided by the number of people in the country. Measurement of economic growth uses national income accounting . Economists refer to economic growth caused by more efficient use of inputs (increased productivity of labor , of physical capital , of energy or of materials ) as intensive growth . In contrast, economic growth caused only by increases in

1817-416: Is the introduction of new products and services and the improvement of existing products. New products create demand, which is necessary to offset the decline in employment that occurs through labor-saving technology (and to a lesser extent employment declines due to savings in energy and materials). In the U.S. by 2013 about 60% of consumer spending was for goods and services that did not exist in 1869. Also,

1896-438: Is the level (average years) of school attainment in a country, building upon the data development of Robert Barro and Jong-Wha Lee. This measure is widely used because Barro and Lee provide data for numerous countries in five-year intervals for a long period of time. One problem with the schooling attainment measure is that the amount of human capital acquired in a year of schooling is not the same at all levels of schooling and

1975-640: The Chacorão (3,336 MW) and Jardim do Ouro (227 MW). The São Luiz do Tapajós, Jatobá and Chacorão dams on the Tapajós would together flood 198,400 hectares (490,000 acres), including parts of the Amazônia and Juruena national parks and the Itaituba I and Itaituba II national forests. The dam will be 1,287 metres (4,222 ft) long, with a maximum height of 35.3 metres (116 ft). The reservoir will have an area of 64,630 hectares (159,700 acres). Excluding

2054-613: The Great Depression , economic growth resumed, aided in part by increased demand for existing goods and services, such as automobiles, telephones, radios, electricity and household appliances. New goods and services included television, air conditioning and commercial aviation (after 1950), creating enough new demand to stabilize the work week. The building of highway infrastructures also contributed to post-World War II growth, as did capital investments in manufacturing and chemical industries. The post-World War II economy also benefited from

2133-530: The Green Revolution . Interchangeable parts made with machine tools powered by electric motors evolved into mass production , which is universally used today. Great sources of productivity improvement in the late 19th century were railroads, steam ships, horse-pulled reapers and combine harvesters , and steam -powered factories. The invention of processes for making cheap steel were important for many forms of mechanization and transportation. By

2212-550: The Indian subcontinent and Asia Pacific . In 1957 South Korea had a lower per capita GDP than Ghana , and by 2008 it was 17 times as high as Ghana's. The Japanese economic growth has slackened considerably since the late 1980s. Productivity in the United States grew at an increasing rate throughout the 19th century and was most rapid in the early to middle decades of the 20th century. U.S. productivity growth spiked towards

2291-594: The Jamanxim National Park , a fully protected area. It also holds part of the 538,151 hectares (1,329,800 acres) Rio Novo National Park , a conservation unit created in 2006. It contains part of the Amaná National Forest , a 539,571 hectares (1,333,310 acres) sustainable use conservation unit created in 2006. The municipality contains 86% of the 1,988,445 hectares (4,913,550 acres) Tapajós Environmental Protection Area , created in 2006. The climate of

2370-488: The SARS-CoV-2 , especially looking at the economic impacts it already has in a space of two years. Ultimately, when people live longer on average, human capital expenditures are more likely to pay off, and all of these mechanisms center around the complementarity of longevity, health , and education , for which there is ample empirical evidence. "As institutions influence behavior and incentives in real life, they forge

2449-488: The Trairão National Forest , in which logging is permitted subject to a management plan. It also contains part of the 724,965 hectares (1,791,430 acres) Altamira National Forest , a sustainable use conservation unit created in 1998. It contains part of the Itaituba I and Itaituba II national forests, both established in 1998, which have a combined area of 610,472 hectares (1,508,510 acres). It contains part of

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2528-614: The United Nations also consider that cultural property protection, high-quality education, cultural diversity and social cohesion in armed conflicts are particularly necessary for qualitative growth. According to Daron Acemoglu , Simon Johnson and James Robinson , the positive correlation between high income and cold climate is a by-product of history. Europeans adopted very different colonization policies in different colonies, with different associated institutions. In places where these colonizers faced high mortality rates (e.g., due to

2607-447: The geometric annual rate of growth in GDP or GDP per capita between the first and the last year over a period of time. This growth rate represents the trend in the average level of GDP over the period, and ignores any fluctuations in the GDP around this trend. Growth is usually calculated in "real" value, which is inflation-adjusted , to eliminate the distorting effect of inflation on the prices of goods produced. Real GDP per capita

2686-426: The 1940s was the big push model , which suggested that countries needed to jump from one stage of development to another through a virtuous cycle , in which large investments in infrastructure and education coupled with private investments would move the economy to a more productive stage, breaking free from economic paradigms appropriate to a lower productivity stage. The idea was revived and formulated rigorously, in

2765-407: The 19th century, whereas countries with low levels of human capital formation were unable to do so, among them many of today's Less Developed Countries such as India, Indonesia, and China." Here, health is approached as a functioning from Amartya Sen and Martha Nussbaum 's capability approach that an individual has to realise the achievements like economic success. Thus health in a broader sense

2844-517: The 19th century. By the 1920s the average work week in the U.S. was 49 hours, but the work week was reduced to 40 hours (after which overtime premium was applied) as part of the National Industrial Recovery Act of 1933. Demographic factors may influence growth by changing the employment to population ratio and the labor force participation rate. Industrialization creates a demographic transition in which birth rates decline and

2923-600: The English in North America started by trying to repeat the success of the Spanish Conquistadors in extracting wealth (especially gold and silver) from the countries they had conquered. This system repeatedly failed for the English. Their successes rested on giving land and a voice in the government to every male settler to incentivize productive labor. In Virginia it took twelve years and many deaths from starvation before

3002-516: The Itaituba I, Itaituba II and Crepori national forests. The Federal Prosecutor General ( Procurador Geral da União ) filed a lawsuit in February 2012 challenging the constitutionality of the measure. Law 12.678 of 25 June 2012 confirmed provisional measure 558. A "platform" approach is proposed for construction to minimise environmental impact. There would be no access roads, and workers would be taken to

3081-541: The Tapajós River, as a center of exploration and trade of specialties of the High Tapajós. With the Revolution of Cabanagem and the events that occurred during this period, the village of Brasília Legal was founded, in 1836, as a place for resistance of the rebels, on the left bank of the Tapajós River. According to Ferreira Penna, in 1836 Itaituba was an indigenous village, belonging to the province of Grão Pará , in which

3160-516: The abolishment of anti-usury laws. Much of the literature on economic growth refers to the success story of the British state after the Glorious Revolution of 1688, in which high fiscal capacity combined with constraints on the power of the king generated some respect for the rule of law. However, others have questioned that this institutional formula is not so easily replicable elsewhere as

3239-431: The accumulation of human and physical capital and the increase in productivity and creation of new goods arising from technological innovation. Further division of labour (specialization) is also fundamental to rising productivity. Before industrialization technological progress resulted in an increase in the population, which was kept in check by food supply and other resources, which acted to limit per capita income,

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3318-411: The administration of José de Nápoles Telo de Menezes the village of Aveiro was founded. In this village was installed, in 1781, the parish of Our Lady of Conception ( Nossa Senhora da Conceição ). It is known, from the footage and historical evidence available, that the place of Itaituba already existed by the year of 1812, since it was mentioned in the travel list of Miguel João de Castro alongside

3397-534: The administration of the governor and captain-general Francisco Xavier de Mendonça Furtado , the government retracted the Jesuits from these villages, and raised the Tapajós village to the category of town, with the denomination of Santarém. There were also changes in the villages of Borari and Arapiuns, in 1757, which were denominated Alter-do-Chão and Vila Franca, respectively. And, in 1758, the villages of São Inácio and São José were denominated as Boim and Pinhel. During

3476-456: The amount of inputs available for use (increased population, for example, or new territory) counts as extensive growth . Innovation also generates economic growth. In the U.S. about 60% of consumer spending in 2013 went on goods and services that did not exist in 1869. In national income accounting, per capita output can be calculated using the following factors: output per unit of labor input (labor productivity), hours worked (intensity),

3555-451: The average age of the population increases. Women with fewer children and better access to market employment tend to join the labor force in higher percentages. There is a reduced demand for child labor and children spend more years in school. The increase in the percentage of women in the labor force in the U.S. contributed to economic growth, as did the entrance of the baby boomers into the workforce. It has been observed that GDP growth

3634-469: The city origins from Tupi (an indigenous language), which literally means gravel place . People from the city of Itaituba are known as itaitubenses . The city nickname is cidade pepita , which translates as "gold nugget city." The city is known for the intense gold mining activity in the valley of the Tapajós River , the multitude of landscapes (such as the sandy river beaches that are formed during

3713-452: The correlation between economic growth and students' average test scores in Hanushek and Wößmann's analyses is actually due to the relationship in countries with less than eight years of schooling. He shows that economic growth is not correlated with average scores in more educated countries. Hanushek and Wößmann further investigate whether the relationship of knowledge capital to economic growth

3792-462: The creation of new services has been more important than invention of new goods. Economic growth in the U.S. and other developed countries went through phases that affected growth through changes in the labor force participation rate and the relative sizes of economic sectors. The transition from an agricultural economy to manufacturing increased the size of the sector with high output per hour (the high-productivity manufacturing sector), while reducing

3871-545: The current territory of the State of Pará , and also for the expedition of Francisco Caldeira Castelo Branco which, in 1616, has founded the city of Belém . After the foundation of the captaincy of Grão Pará, the foreigners were gradually expelled by the government, by means of various expeditions which had as goal to destroy the settlements created. Among these expeditions, the one headed by captain Pedro Teixeira reached for

3950-592: The discovery of vast amounts of oil around the world, particularly in the Middle East . By John W. Kendrick's estimate, three-quarters of increase in U.S. per capita GDP from 1889 to 1957 was due to increased productivity. Economic growth in the United States slowed down after 1973. In contrast, growth in Asia has been strong since then, starting with Japan and spreading to Four Asian Tigers , China , Southeast Asia ,

4029-574: The dry seasons, and also the waterfalls located in the district of São Luiz do Tapajós), and the Amazônia National Park . The municipality will contain part of the reservoir of the proposed Jatobá Hydroelectric Power Plant on the Tapajós . The presence of Dutch, French, and English explorers in the estuary of the Amazon River has concurred for the settlement of Portuguese expeditionaries in

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4108-521: The economical production of metal parts possible, so that parts could be interchangeable. (See: Interchangeable parts .) During the Second Industrial Revolution , a major factor of productivity growth was the substitution of inanimate power for human and animal labor. Also there was a great increase in power as steam-powered electricity generation and internal combustion supplanted limited wind and water power . Since that replacement,

4187-504: The end of the century in 1996–2004, due to an acceleration in the rate of technological innovation known as Moore's law . After 2004 U.S. productivity growth returned to the low levels of 1972–96. Capital in economics ordinarily refers to physical capital, which consists of structures (largest component of physical capital) and equipment used in business (machinery, factory equipment, computers and office equipment, construction equipment, business vehicles, medical equipment, etc.). Up to

4266-529: The existing river area, 20,400 hectares (50,000 acres) will be newly flooded land. Water levels will be 66 metres (217 ft) upstream and 50 metres (160 ft) downstream. The hydraulic head will be 16 metres (52 ft). The plant will have installed capacity of 2,338 MW (3,135,000 hp). The plant will have 40 bulb turbines , each with capacity of 59.7 MW (80,100 hp). Assured energy will be 1,282 megawatts (1,719,000 hp). Annual output will be 11,264 GW (1.5105 × 10 hp). The cost

4345-463: The extremum could be extended by technological and policy innovations and some countries move into innovative growth domain with higher limiting values. Many theoretical and empirical analyses of economic growth attribute a major role to a country's level of human capital , defined as the skills of the population or the work force. Human capital has been included in both neoclassical and endogenous growth models. A country's level of human capital

4424-521: The first fortnight of July and finish with Círio's Procession, on the 26th of July, dedicated to that holy. The city is served by Itaituba Airport . Economic growth Heterodox Economic growth can be defined as the increase or improvement in the inflation-adjusted economy in a financial year. The economic growth rate is typically calculated as real Gross domestic product (GDP) growth rate , real GDP per capita growth rate or GNI per capita growth . The "rate" of economic growth refers to

4503-549: The first time (in 1626) the Tapajós River . This expedition established a friendly contact with native people in the site currently known as Alter-do-Chão bay. In 1639, Pedro Teixeira returned to the Tapajós River , being followed the Jesuits . Several villages were founded by the Jesuits, along the Tapajós River, during this period. Some of these villages were "Tapajós", in 1661, "São José" (or Matapus), in 1722, "São Inácio" (or Tupinambaranas), in 1737, and Borari and Arapiuns. During

4582-788: The foundations of modern rule of law states. In many poor and developing countries much land and housing are held outside the formal or legal property ownership registration system. In many urban areas the poor "invade" private or government land to build their houses, so they do not hold title to these properties. Much unregistered property is held in informal form through various property associations and other arrangements. Reasons for extra-legal ownership include excessive bureaucratic red tape in buying property and building. In some countries, it can take over 200 steps and up to 14 years to build on government land. Other causes of extra-legal property are failures to notarize transaction documents or having documents notarized but failing to have them recorded with

4661-475: The governor decided to try democracy. Economic growth, its sustainability and its distribution remain central aspects of government policy. For example, the UK Government recognises that "Government can play an important role in supporting economic growth by helping to level the playing field through the way it buys public goods, works and services ", and "Post- Pandemic Economic Growth" has been featured in

4740-519: The great expansion of total power was driven by continuous improvements in energy conversion efficiency . Other major historical sources of productivity were automation , transportation infrastructures (canals, railroads, and highways), new materials (steel) and power, which includes steam and internal combustion engines and electricity . Other productivity improvements included mechanized agriculture and scientific agriculture including chemical fertilizers and livestock and poultry management, and

4819-717: The identity or type of legal system of the colonizers to explain institutions, these authors look at the environmental conditions in the colonies to explain institutions. For instance, former colonies have inherited corrupt governments and geopolitical boundaries (set by the colonizers) that are not properly placed regarding the geographical locations of different ethnic groups, creating internal disputes and conflicts that hinder development. In another example, societies that emerged in colonies without solid native populations established better property rights and incentives for long-term investment than those where native populations were large. In Why Nations Fail , Acemoglu and Robinson said that

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4898-471: The late 19th century both prices and weekly work hours fell because less labor, materials, and energy were required to produce and transport goods. However, real wages rose, allowing workers to improve their diet, buy consumer goods and afford better housing. Mass production of the 1920s created overproduction , which was arguably one of several causes of the Great Depression of the 1930s. Following

4977-415: The main factors of economic growth are division of labour and capital accumulation . However, these are conditioned by what he calls "the extent of the market". This is conditioned notably by geographic factors but also institutional ones such as the political-legal environment. Malthusianism is the idea that population growth is potentially exponential while the growth of the food supply or other resources

5056-591: The mid-19th century. Most of the economic growth in the 20th century was due to increased output per unit of labor, materials, energy, and land (less input per widget). The balance of the growth in output has come from using more inputs. Both of these changes increase output. The increased output included more of the same goods produced previously and new goods and services. During the Industrial Revolution , mechanization began to replace hand methods in manufacturing, and new processes streamlined production of chemicals, iron, steel, and other products. Machine tools made

5135-497: The most important source of real per capita economic growth. In a famous estimate, MIT Professor Robert Solow concluded that technological progress has accounted for 80 percent of the long-term rise in U.S. per capita income, with increased investment in capital explaining only the remaining 20 percent. Increases in productivity lower the real cost of goods. Over the 20th century, the real price of many goods fell by over 90%. Economic growth has traditionally been attributed to

5214-404: The number of seeds harvested relative to the number of seeds planted (capital) on a plot of land and the size of the harvest from a plot of land versus the number of workers employed. (See also Diminishing returns ) Criticisms of classical growth theory are that technology, an important factor in economic growth, is held constant and that economies of scale are ignored. One popular theory in

5293-800: The official agency. Not having clear legal title to property limits its potential to be used as collateral to secure loans, depriving many poor countries of one of their most important potential sources of capital. Unregistered businesses and lack of accepted accounting methods are other factors that limit potential capital. Businesses and individuals participating in unreported business activity and owners of unregistered property face costs such as bribes and pay-offs that offset much of any taxes avoided. "Democracy Does Cause Growth", according to Acemoglu et al. Specifically, they state that "democracy increases future GDP by encouraging investment, increasing schooling, inducing economic reforms, improving public goods provision, and reducing social unrest". UNESCO and

5372-441: The percentage of the working-age population actually working (participation rate) and the proportion of the working-age population to the total population (demographics). "The rate of change of GDP/population is the sum of the rates of change of these four variables plus their cross products." Economists distinguish between long-run economic growth and short-run economic changes in production . Short-run variation in economic growth

5451-505: The presence of tropical diseases), they could not settle permanently, and they were thus more likely to establish extractive institutions, which persisted after independence; in places where they could settle permanently (e.g. those with temperate climates), they established institutions with this objective in mind and modeled them after those in their European homelands. In these 'neo-Europes' better institutions in turn produced better development outcomes. Thus, although other economists focus on

5530-432: The region is equatorial, with an average minimum daily temperature greater than 18 °C. Itaituba has a relative humidity of the air above 80% during almost all the months of the year. The rainy season includes the months of December to April, while the driest months are from July to October. The biggest festival in Itaituba is Our lady de Santana's Party, for padroeira of the municipal district. The festivities are during

5609-480: The service economy expanded in the 2000s. The structural change could also be viewed from another angle. It is possible to divide real economic growth into two components: an indicator of extensive economic growth—the ‘quantitative’ GDP—and an indicator of the improvement of the quality of goods and services—the ‘qualitative’ GDP. Adam Smith pioneered modern economic growth and performance theory in his book The Wealth of Nations , first published in 1776. For Smith,

5688-695: The seventeenth century. Furthermore, Prussia and the Habsburg empire—much more heterogeneous states than England—were able to increase state capacity during the eighteenth century without constraining the powers of the executive. Nevertheless, it is unlikely that a country will generate institutions that respect property rights and the rule of law without having had first intermediate fiscal and political institutions that create incentives for elites to support them. Many of these intermediate level institutions relied on informal private-order arrangements that combined with public-order institutions associated with states, to lay

5767-459: The site by helicopter. After construction is complete the site would be regenerated. The dam and plant will be built by the Grupo de Estudo Tapajós consortium, composed of Eletrobras , Eletronorte , Électricité de France , Camargo Corrêa , CEMIG , Copel , Engie , Enersis and Neoenergia . As of 2017 construction was suspended. Itaituba Itaituba is a city and municipality located in

5846-456: The size of the sector with lower output per hour (the lower productivity agricultural sector). Eventually high productivity growth in manufacturing reduced the sector size, as prices fell and employment shrank relative to other sectors. The service and government sectors, where output per hour and productivity growth is low, saw increases in their shares of the economy and employment during the 1990s. The public sector has since contracted, while

5925-440: The state of Pará , Brazil, and one of the most important socioeconomic centers in the western region of the State. Itaituba is the fifteenth largest city (by population) in the State of Pará , third largest city in the western region, and has the thirteenth largest gross domestic product in the state. The city is regarded as a medium-sized city, and one of the fastest growing cities in the countryside of Brazil . The name of

6004-427: The success or failure of nations." In economics and economic history, the transition from earlier economic systems to capitalism was facilitated by the adoption of government policies which fostered commerce and gave individuals more personal and economic freedom. These included new laws favorable to the establishment of business, including contract law , laws providing for the protection of private property , and

6083-613: The underlying homogeneity of its land and people, England was able to achieve a unified legal and fiscal system since the Middle Ages that enabled it to substantially increase the taxes it raised after 1689. On the other hand, the French experience of state building faced much stronger resistance from local feudal powers keeping it legally and fiscally fragmented until the French Revolution despite significant increases in state capacity during

6162-585: The years 1–1500. In classical ( Ricardian ) economics, the theory of production and the theory of growth are based on the theory of sustainability and law of variable proportions, whereby increasing either of the factors of production (labor or capital), while holding the other constant and assuming no technological change, will increase output, but at a diminishing rate that eventually will approach zero. These concepts have their origins in Thomas Malthus ’s theorizing about agriculture. Malthus's examples included

6241-468: Was not different from those among technologically regressed society. The conceptual foundations of the Malthusian theory were formed by Thomas Malthus, and a modern representation of these approach is provided by Ashraf and Galor. In line with the predictions of the Malthusian theory, a cross-country analysis finds a significant positive effect of the technological level on population density and an insignificant effect on income per capita significantly over

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