Augmented mankiw-romer-weil model for the impact of foreign labour on an economic growth

Economic growth is an increase in the level of national output. The economic factors that cause economic growth are an increase in capital stock consisting of physical capital and human capital. When one of the economic factors increases while the other decrease, the level of national output is a ne...

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Main Author:	Ahmad Nizam, Saiyidatul Sa Adah
Format:	Thesis
Language:	English
Published:	2017
Subjects:	QA Mathematics
Online Access:	http://eprints.utm.my/id/eprint/77899/1/SaiyidatulSaadahAhmadMFS20171.pdf
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spelling	my-utm-ep.778992018-07-18T04:11:16Z Augmented mankiw-romer-weil model for the impact of foreign labour on an economic growth 2017-03 Ahmad Nizam, Saiyidatul Sa Adah QA Mathematics Economic growth is an increase in the level of national output. The economic factors that cause economic growth are an increase in capital stock consisting of physical capital and human capital. When one of the economic factors increases while the other decrease, the level of national output is a net decrease. Nowadays, the influx of foreign labour is becoming a serious issue around the world. This research is to see the impact of foreign labour on economic growth by augmenting the Mankiw-Romer- Weil model. A new variable of foreign labour is added as an input in human capital. Mankiw, Romer and Weil extended the Solow-Swan model to explain the role of human capital and physical capital in economic growth. Since 1992, the economists have found human capital as an important role that causes economic growth. Human capital is a stock of knowledge and skill that produces effective labour. Foreign labour only brings human capital and they are generally unskilled labour. A new model is developed by separating the human capital into two characteristics; unskilled labour from foreign labour and skilled labour from domestic labour. It is found that the foreign labour are helping in generating human capital, but their excessive presence will cause more negative effects on the production of human capital and physical capital. This means that the increase in employment of foreign labour can decrease the level of national output. Data from Malaysia is simulated in an existing model (Mankiw-Romer-Weil model) and the new model (Augmented Mankiw-Romer-Weil model) to make comparison. The result from this research clearly shows that foreign labour can affect national output and neglecting the role of foreign labour can affect the level of national economic growth. 2017-03 Thesis http://eprints.utm.my/id/eprint/77899/ http://eprints.utm.my/id/eprint/77899/1/SaiyidatulSaadahAhmadMFS20171.pdf application/pdf en public http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:105102 masters Universiti Teknologi Malaysia, Faculty of Science Faculty of Science
institution	Universiti Teknologi Malaysia
collection	UTM Institutional Repository
language	English
topic	QA Mathematics
spellingShingle	QA Mathematics Ahmad Nizam, Saiyidatul Sa Adah Augmented mankiw-romer-weil model for the impact of foreign labour on an economic growth
description	Economic growth is an increase in the level of national output. The economic factors that cause economic growth are an increase in capital stock consisting of physical capital and human capital. When one of the economic factors increases while the other decrease, the level of national output is a net decrease. Nowadays, the influx of foreign labour is becoming a serious issue around the world. This research is to see the impact of foreign labour on economic growth by augmenting the Mankiw-Romer- Weil model. A new variable of foreign labour is added as an input in human capital. Mankiw, Romer and Weil extended the Solow-Swan model to explain the role of human capital and physical capital in economic growth. Since 1992, the economists have found human capital as an important role that causes economic growth. Human capital is a stock of knowledge and skill that produces effective labour. Foreign labour only brings human capital and they are generally unskilled labour. A new model is developed by separating the human capital into two characteristics; unskilled labour from foreign labour and skilled labour from domestic labour. It is found that the foreign labour are helping in generating human capital, but their excessive presence will cause more negative effects on the production of human capital and physical capital. This means that the increase in employment of foreign labour can decrease the level of national output. Data from Malaysia is simulated in an existing model (Mankiw-Romer-Weil model) and the new model (Augmented Mankiw-Romer-Weil model) to make comparison. The result from this research clearly shows that foreign labour can affect national output and neglecting the role of foreign labour can affect the level of national economic growth.
format	Thesis
qualification_level	Master's degree
author	Ahmad Nizam, Saiyidatul Sa Adah
author_facet	Ahmad Nizam, Saiyidatul Sa Adah
author_sort	Ahmad Nizam, Saiyidatul Sa Adah
title	Augmented mankiw-romer-weil model for the impact of foreign labour on an economic growth
title_short	Augmented mankiw-romer-weil model for the impact of foreign labour on an economic growth
title_full	Augmented mankiw-romer-weil model for the impact of foreign labour on an economic growth
title_fullStr	Augmented mankiw-romer-weil model for the impact of foreign labour on an economic growth
title_full_unstemmed	Augmented mankiw-romer-weil model for the impact of foreign labour on an economic growth
title_sort	augmented mankiw-romer-weil model for the impact of foreign labour on an economic growth
granting_institution	Universiti Teknologi Malaysia, Faculty of Science
granting_department	Faculty of Science
publishDate	2017
url	http://eprints.utm.my/id/eprint/77899/1/SaiyidatulSaadahAhmadMFS20171.pdf
_version_	1747817858335768576

Augmented mankiw-romer-weil model for the impact of foreign labour on an economic growth

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