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Sample records for economic growth employment

  1. EVIDENCE ON EMPLOYMENT RATE AND ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Cornelia VĂCEANU

    2014-11-01

    Full Text Available This paper explores a causal relationship between employment rate and economic growth for European Union countries, in general, and produces a structural assessment of employment on the background of labour market dynamics. Economic growth is the key in economic theory and the main source of well-being and quality of life. Since the 2008 financial crisis, most European countries have experienced job shortage and unemployment problem, but today's European economic outlook is strengthening on the bases of a GDP growing momentum. Empirical data shows, regardless the GDP's moderate positive trend, the employment rate did not increase enough. Given this, the present analysis address the question: to what extent the employment rate is affected by economic growth?

  2. Employment, energy, and economic growth in Australia

    Energy Technology Data Exchange (ETDEWEB)

    Andrews, J

    1979-09-01

    The author examines the complex relationships between energy use, employment opportunities, and economic growth as they apply to the Australian economy and concludes that state and federal governments should collaborate to analyze the employment impacts of the various energy strategies. He sees the need for changes in the political and economic environment as well as in the way energy is used before Australia can return to full employment. While low or zero energy growth policies would not, by themselves, solve the unemployment problem, most new jobs have been created in the labor-intensive service industries. 25 references. (DCK)

  3. Employment, Economic Growth and Labor Market Performance: The Case of Turkey

    OpenAIRE

    Alparslan AKÇORAOĞLU

    2010-01-01

    The fundamental aim of this paper is to explore the empirical relationship between employment and economic growth in Turkey over the period 1995Q1-2007Q4 by using modern time series techniques. The employment growth performance is a concern for Turkey as its employment rate is well below any European Union (EU) member country. Some authors have argued that the rates of employment growth in Turkey have remained low over the same period despite relatively strong economic growth. The results of ...

  4. Industrial Employment, Investment Equipment and Economic Growth

    OpenAIRE

    Dellas, Harris

    2000-01-01

    The industrialization of labour is the main engine of growth during the early stages of economic development. In less developed countries, equipment investment has played a less important role than non-equipment investment; and it has only proved growth enhancing when it either encountered a substantial industrial labour force or fostered a large increase in the share of industrial employment. These findings draw attention to the effects of investment on the composition of the labour force; a...

  5. Economic Growth, Structural Change and Productive Employment Linkages in India

    DEFF Research Database (Denmark)

    Aggarwal, Aradhna

    2018-01-01

    This article presents a quantitative analysis of growth, structural change and employment linkages at the aggregate level and by sector under the state- and market-led regimes in India. The underlying objectives are: (a) to understand how economic liberalization has affected the economic and labour...... intervention to broad base structural change for generating productive employment, which is at the core of poverty reduction....

  6. Economic growth, employment and poverty in the Middle East and North Africa

    NARCIS (Netherlands)

    M. Messkoub (Mahmood)

    2008-01-01

    textabstractThis paper  provides an assessment of economic growth, employment and poverty reduction in the Arab MENA region. Considering the high rate of unemployment (especially the youth unemployment) and poverty in most countries in the region employment and poverty impacts of growth are of

  7. THE EMPLOYMENT – PRODUCTIVITY – SALARY RELATION, A CONDITION FOR ACHIEVING LONG - TERM ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Mihai CHIRILA

    2005-01-01

    Full Text Available The employment-productivity-salary correlation is essential towards setting up conditions for economic growth andlasting social stability. An influence exists from technological changes, current stage of economic development,peculiarities of labour offer, employers – trade-unions interaction, etc. The analysis covers long-term and short-termcycles. In keeping with specificity of development stages, national economy witnesses an interval of productivitygrowth facilitating maximized employment and a rise in salary too. A lower growth rate indicates difficulties inassimilating new technologies; a higher growth rate generates instability in employing labour. Thus, the exercise ofstrong pressure is shown to exist on economic and technological structures. Likewise, this is what happens whenproductivity goes ahead of the separate analyses of the correlations between employment and productivity, on theone hand, and productivity and salary, on the other.

  8. The challenge of low employment economic growth in South Africa: 1994 -2008

    Directory of Open Access Journals (Sweden)

    Darma Mahadea

    2010-12-01

    Full Text Available The formal sector in South Africa is unable to provide adequate employment for labour although the economy registered positive economic growth rates over the past 15 years since the demise of apartheid.  This is a critical problem, given the current recessionary climate and recent developments in the economies of our trading partners.  While government has responded with many initiatives to deal with employment creation, unemployment rates remain high.  This problem is examined by reviewing South Africa’s growth performance and links to employment and posits various alternative strategies.  The growth elasticity of employment is found to be rather low over the 1994-2008 period, and even over a longer time horizon the marginal growth employment effect is found to be rather weak.

  9. The effects of local government investment on economic growth and employment: evidence from transitional China

    Institute of Scientific and Technical Information of China (English)

    Zhang Weiguo; Hou Yongjian

    2009-01-01

    Based on the panel data of 28 provinces in the year of 1987-2001,this paper examines the effects of the local government investment on economic growth and employment.The empirical result shows that the local government investment plays a significant positive role in economic growth and emplovment.However,while the proportion of local government investment to GDP had a remarkable rise after 1998.the elasticity of local government investment on economic growth declined,which shows that there is a hig room for raising the efficiency of local government mvestment.Moreover,the empirical examination shows that although local government investment had positive effect on employment,the elasticity had a decrease after 1994 when the tax-sharing system reform was put into practice.This shows that the positive role of local government investment on emplovment is also limited.This paper argues that the role of local governments as investors must be weakened,and local governments of different levels should lessen direct economic intervention and concentrate on public regulation.

  10. Employment and Growth | IDRC - International Development ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Our investments increase employment and economic opportunities for women and youth. ... The Employment and Growth program seeks to enhance the employment and economic opportunities of ... The untold story: IDRC supported researchers transform economic policy in Africa ... Careers · Contact Us · Site map.

  11. Growth, Employment and Structural Change

    DEFF Research Database (Denmark)

    Aggarwal, Aradhna

    2016-01-01

    This paper studies the decomposition of GSDP growth per capita in Punjab via-a-vis 15 other states in India during 1993–94 and 2011–12 in terms of employment and productivity growth. Specifically, it focuses on the role of employment growth and structural change in employment on economic growth...... but structural shifts have paid off well in terms of diversification of the economy and their contribution to labour productivity especially for manufacturing. Overall employment effect had been negative but this was essentially due to contraction in the labour force; the employment rate effect turned out...

  12. The contribution of microbial biotechnology to economic growth and employment creation.

    Science.gov (United States)

    Timmis, Kenneth; de Lorenzo, Victor; Verstraete, Willy; Ramos, Juan Luis; Danchin, Antoine; Brüssow, Harald; Singh, Brajesh K; Timmis, James Kenneth

    2017-09-01

    Our communication discusses the profound impact of bio-based economies - in particular microbial biotechnologies - on SDG 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. A bio-based economy provides significant potential for improving labour supply, education and investment, and thereby for substantially increasing the demographic dividend. This, in turn, improves the sustainable development of economies. © 2017 The Authors. Microbial Biotechnology published by John Wiley & Sons Ltd and Society for Applied Microbiology.

  13. The Role of Regional Innovation Systems (RIS in Translating R&D Investments into Economic and Employment Growth

    Directory of Open Access Journals (Sweden)

    Ricardo Filipe Ferreira Moutinho

    2015-07-01

    Full Text Available The emergence of the so-called “European Paradox” shows that increasing Governmental R&D Investment is far from being a ‘panacea’ for stagnant growth. It is worth noting that Governmental R&D Investment does not have a statistically significant impact on employment, indicating the need to assess the trade-offs of policies that could lead to significant increases in government expenditure. Surprisingly, Governmental R&D Employment does not contribute to ‘mass-market’ employment, despite its quite important role in reducing Youth-Unemployment. Despite the negative side-effects of Governmental R&D Employment on both GVA and GDP, University R&D Employment appears to have a quite important role in reducing Unemployment, especially Youth-Unemployment, while it also does not have a downside in terms of economic growth. Technological Capacity enhancement is the most effective instrument for reducing Unemployment and is a policy without any downside regarding sustainable economic development.

  14. What the growth of a space tourism industry could contribute to employment, economic growth, environmental protection, education, culture and world peace

    Science.gov (United States)

    Collins, Patrick; Autino, Adriano

    2010-06-01

    The authors argue that the creation of a popular new industry of passenger space travel could be economically and socially very beneficial in creating new employment in aerospace and related fields in order to supply these services. In doing so, the application of nearly a half-century of technological development that has yet to be used commercially could create many new aerospace engineering business opportunities. In addition, by growing to large scale, space tourism has unique potential to reduce the cost of space travel sharply, thereby making many other activities in space feasible and profitable. The paper discusses the scope for new employment, stimulating economic growth, reducing environmental damage, sustaining education particularly in the sciences, stimulating cultural growth, and preserving peace by eliminating any need for "resource wars".

  15. Economic growth and gender equality | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    And conversely, does gender equality impact economic growth? ... change and growth in the economy on women's employment opportunities and the type ... sectors and their overall effect on development outcomes, such as economic growth ...

  16. Employment and Growth | Page 50 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Emploi et croissance. Language English. Read more about Viet Nam Economic Research Network (VERN) - Phase II. Language English. Read more about Strengthening Economics Research Capacity in Francophone African Universities - Phase III. Language English. Read more about Gender ...

  17. The effect of employment, economic growth, and investment on HDI: In provinces in Indonesia

    Directory of Open Access Journals (Sweden)

    Nur Feriyanto

    2016-07-01

    Full Text Available This study aims to analyze the effect of Number of Working People (Employment, Economic Growth Rate (EGR, and Investment on Human Development Index (HDI in Indonesia, partially and simultaneously. This study used investments consisting of Domestic Investment (DI and Foreign Direct Investment (FDI. It used the method of analysis of panel data regression analysis with the data from thirty-three provinces in Indonesia from 2006 to 2013. The results indicate that the employment variables have positive and significant impact to HDI in Indonesia. It shows that EGR does not affect HDI in Indonesia. However, Domestic and foreign direct investments partially have positive and significant effect on HDI in Indonesia. Simultaneously, the variables employment, EGR, domestic and foreign direct investments have a significant effect on the HDI in Indonesia.

  18. Investment and Employment - Drivers of European Economic Development

    Directory of Open Access Journals (Sweden)

    Cristina BURGHELEA

    2017-04-01

    Full Text Available The economic literature and related specialty practice, the development of the European Economic Community along with the factors determining them (such investments and staff represents a topic that is of great notoriety. This paper shows the role and influence that direct investment in the economy and employment ratio can propagate in the growth of gross domestic product per capita to ensure increased economic sustainability of countries in the European Community. The most important economic effects of FDI on the host economy can be represented by labor productivity growth through knowledge transfer (know-how technology, management skills and marketing term in countries emerging favor progress technological and economic growth. To determine this goal, in the context of economic logic, this research shows the importance of gross domestic product, total and per capita, as a macroeconomic indicator synthetic, and encouraging and using the action of factors that can also provide political steps, organizational and financial, achieving levels attesting social progress and prosperity. The study highlights a Custom Analysis on gross domestic product per capita, direct investment and the proportion of people employed in total for 24 European Union countries in 2014 and also develop an econometric model multifactorial based on system statistics. Research shows utility in making decisions about investment growth in the European Community by attracting a workforce that is in full compliance with state investment policies and by providing a high living standard.

  19. Employment and Growth | Page 51 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Although economic progress has reduced poverty, the region still suffers from important ... environmental depletion, growing informal employment, and food insecurity. ... Read more about Supporting sustainable economic growth in ASEAN ... CIES representatives shared details of the unique role the Consortium plays in ...

  20. Employment and Growth | Page 20 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Strengthening the Economic Committee of the National Assembly in Vietnam: Phase 2. Language English. Read more about Growing Informal Cities: Mobile Entrepreneurs and Inclusive Growth in South Africa, Mozambique, and Zimbabwe. Language English.

  1. Employment and Growth | Page 24 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Upgrading Lebanese Economic Analytical Capacity. Language English. Read more about Promoting Research for Policymaking under Decentralization in Peru (CIES). Language English. Read more about Trade Policy and Pro Poor Growth in Ghana.

  2. Employment and Growth | Page 16 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Can Inclusive Growth Also Be Green? Language English. Read more about Fostering Entrepreneurship in the Caribbean. Language English. Read more about Capacity Building for a New Social and Economic Policy Strategy in Paraguay. Language English.

  3. Employment and Growth | Page 44 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Emploi et croissance. Language English. Read more about Informal sector, business environment and economic growth: A comparative analysis of West and Central Africa. Language English. Read more about Unfair Trade Practices in ASEAN. Language English. Read more about Social ...

  4. Electricity consumption and economic growth: evidence from Korea

    International Nuclear Information System (INIS)

    Yoo, Seung-Hoon

    2005-01-01

    This paper investigates the short- and long-run causality issues between electricity consumption and economic growth in Korea by using the co-integration and error-correction models. It employs annual data covering the period 1970-2002. The overall results show that there exists bi-directional causality between electricity consumption and economic growth. This means that an increase in electricity consumption directly affects economic growth and that economic growth also stimulates further electricity consumption

  5. ANALISIS BELANJA MODAL, INVESTASI, DAN TENAGA KERJA TERHADAP PERTUMBUHAN EKONOMI SULAWESI SELATAN (CAPITAL EXPENDITURES ANALYSIS, INVESTMENTS, AND EMPLOYMENT ON ECONOMIC GROWTH SOUTH SULAWESI

    Directory of Open Access Journals (Sweden)

    Basri Bado

    2015-08-01

    Full Text Available The aim of this study was to determine the influence of Capital Expenditure and Investment, and Employment on economic growth in South Sulawesi. This study uses time series data (time series in 2001-2013. Data collected through observation and documentation. Data were analyzed using multiple linear regression analysis by the method of ordinary least squares (OLS. The results showed that the variable Capital Expenditures, Investment, and Labour significant effect on economic growth in South Sulawesi. Capital Expenditure Partially variables, and variables of Labor has a significant influence on the economic growth of South Sulawesi. While variable investments significantly negative effect on economic growth in South Sulawesi.

  6. Impacts of Seaport Investment on the Economic Growth

    Directory of Open Access Journals (Sweden)

    Tahar Ammar Jouili

    2016-08-01

    Full Text Available The aim of this paper is to estimate the impact of seaports investment on the economic growth. Seaports are seen by many governments as an important factor in the strengthening of the economies. During the last two decades, the Tunisian succeeding governments have been allocating a great amount of money to develop seaport infrastructures. However, the Tunisian economy witnessed fluctuations in the economic growth rates and decrease in the rate of employment during the same period of time. This study used an econometric model by employing the Cobb-Douglas production function. The sample was composed of Tunisia's economic sectors (manufacturing, services and agriculture over the period 1983-2011. The results of the study show that the public investment in seaport infrastructures has apositive influence on Tunisian economic growth. The study also revealed that the biggest beneficiary from the seaport investment infrastructure is the service sector.This paper aims to estimate the impact of seaports investment on the economic growth. The seaports are seen by many governments as an important factor in the strengthening of the economies. During the last two decades, the Tunisian succeeding governments were allocating a great amount of money to develop seaports' infrastructures. However, the Tunisian economy witnessed fluctuating in the economic growth rates and decreased in the rate of employment during the same period of time. This study used an econometric model by employing the Cobb-Douglas production function. The sample composed of Tunisia's economic sectors (manufacturing, services and agriculture over the period 1983-2011. The results of the study show that the public investment in seaports' infrastructures has a positive influence on Tunisian economic growth. The study also revealed that the biggest beneficiary from the seaports investment infrastructure is the services sector.

  7. Medical Tourism and Its Implication on Malaysia's Economic Growth

    OpenAIRE

    Tang, Chor Foon

    2015-01-01

    Policymakers in the developed and developing countries already heading toward medical tourism to stimulate economic growth. Nonetheless, the actual impact of medical tourism on economic growth remains ambiguous. Although medical tourism may spur economic growth via its impact on foreign currency earnings, investments, tax revenue, and employment opportunities, it may also leave numerous negative externalities that either direct or indirectly harmful the process of economic growth. Undeniably,...

  8. Employment growth and regional development

    DEFF Research Database (Denmark)

    Eriksson, Rikard; Hansen, Høgni Kalsø; Winther, Lars

    2017-01-01

    This paper explores the potential drivers behind uneven regional development in the context of employment growth in Denmark and Sweden. In particular, we are interested in the roles of urbanization, industrial change and the rise of the new economy as manifested in the growth of the two economies...... in 2002–2007. The aim of this paper is, therefore, to analyse the impact of a number of key industrial sectors on regional employment growth in the two countries. The empirical analysis is based on longitudinal matched employer–employee data retrieved from official registers in each economy from 2002...... economies, we find that, although in general these economies react relatively similarly to changes, embarking on a narrower analysis of the individual sectors reveals marked national differences. This indicates that context matters in the analysis of regional economic dynamics in terms of structure, system...

  9. Employment and Growth | Page 34 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Emploi et croissance. Language English. Read more about Merconet: Strengthening Economic Research and Fostering Entrepreneurship in South America. Language English. Read more about Global Trade Alert (GTA) - Phase II: Year 2 - Monitoring and Analysis of Crisis-Era Discrimination.

  10. Employment and Growth | Page 8 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Mekong Economic Research Network (MERN). Language English. Read more about Competencies for Central American SMEs in the Knowledge-Based Economy. Language English. Read more about ILEAP Core Grant 2011-2012 - Phase IV: Engendering ...

  11. The dynamics of oil consumption and economic growth in Malaysia

    International Nuclear Information System (INIS)

    Park, Sun-Young; Yoo, Seung-Hoon

    2014-01-01

    This study attemps to investiagte the causal relationship between oil consumption and economic growth in Malaysia where oil consumption and real gross domestic product have been rapidly increased in recent years. To this end, the study employs annual data covering the period 1965–2011. Tests for unit roots, co-integration, and Granger-causality based on the error-correction models are presented. The overall results support the existence of bi-directional causality between oil consumption and economic growth in Malaysia. This means that an increase in oil consumption directly affect economic growth. Thus, in order not to make an adverse effect on economic growth, Malaysia should endeavor to overcome the constraints on oil consumption. Moreover, it appears that economic growth induces oil consumption. - Highlights: • We examine the causality between oil consumption and economic growth in Malaysia. • We employed the annual data covering the period 1965–2011. • We estimated error-correction models to test for the direction of causality. • We found that there is bi-directional causality between the two

  12. Employment and Growth | Page 22 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Trade and Industrial Policy Strategies (TIPS) Core Grant - Phase IV. Language English. Read more about Strengthening the Capacity of the Economic Committee of the National Assembly (Viet Nam). Language English. Read more about Social Protection and ...

  13. Employment and Growth | Page 19 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Economic Research Forum - Core Support 2012-2014. Language English. Read more about IDRC-GDN: A Strengthened Partnership for Research Capacity Building. Language English. Read more about Impact of Minimum Wage on the Labour Market in ...

  14. Employment and Growth | Page 3 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Deepening financial inclusion for women and youth in sub-Saharan Africa. Language English. Read more about Making trade work for small producers in Southeast Asia's least developed countries. Language English. Read more about Expanding economic ...

  15. Economic institutions and economic growth: Empirical evidence from the Economic Community of West African States

    Directory of Open Access Journals (Sweden)

    Lazarus Z. Wanjuu

    2017-12-01

    Background: Economic institutions are considered as the fundamental cause of economic growth. Economic institutions affect economic growth through allocation of resources like physical and human capital. Unfortunately, there is dearth of empirical studies showing the impact of economic institutions on growth of the Economic Community of West African States (ECOWAS. Aim: This study investigates the impact of economic institutions on economic growth of the ECOWAS. Setting and method: The study applied cause and effect relationship. The study used econometric research techniques of unit root and co-integration tests to establish the time series properties of the data; the vector error correction and co-integration regression models to estimate the population parameters. The research data comprised data obtained from the United Nations Conference on Trade and Development (UNCTAD, the Transparency International (TI and Heritage Foundation databases. The variables employed were the real gross domestic product (GDP per capita (RGDPPC, corruption perception index (CPI, property rights protection (PROPRGT, private investment per capita (INVESPC, government expenditure per capita (GOEXPPC and trade openness (TRAOPN. Results: The results of the data analysed showed that economic institutions represented by the property rights index engender RGDPPC growth in ECOWAS. The CPI could not stimulate RGDPPC growth in ECOWAS. The results also show that all the other variables stimulated growth except trade openness. Conclusion: The study concludes that good economic institutions, private investments, and government intervention by providing security, economic and social infrastructural facilities are conducive for economic growth in the ECOWAS region. The study recommended that more efforts be made at curbing corruption in the region

  16. Energy transition: constraint or opportunity for growth and employment?

    International Nuclear Information System (INIS)

    Vona, Francesco

    2017-01-01

    This note aims at examining whether environmental policies associated with energy transition are either a brake on, or an opportunity for economic growth. In order to so, the authors compare France's situation with that of its economic partners (Germany, Spain, Italy) in terms of energy price, and of share of employment in polluting industries. They also examine the influence of an increase of energy prices on employment and competitiveness of French manufacturing companies. They finally show that energy transition implies a structural change which may result in an actual creation of green jobs. They finally propose three recommendations regarding economic policy

  17. Electricity consumption and economic growth nexus in Portugal using cointegration and causality approaches

    International Nuclear Information System (INIS)

    Shahbaz, Muhammad; Tang, Chor Foon; Shahbaz Shabbir, Muhammad

    2011-01-01

    The aim of this paper is to re-examine the relationship between electricity consumption, economic growth, and employment in Portugal using the cointegration and Granger causality frameworks. This study covers the sample period from 1971 to 2009. We examine the presence of a long-run equilibrium relationship using the bounds testing approach to cointegration within the Unrestricted Error-Correction Model (UECM). Moreover, we examine the direction of causality between electricity consumption, economic growth, and employment in Portugal using the Granger causality test within the Vector Error-Correction Model (VECM). As a summary of the empirical findings, we find that electricity consumption, economic growth, and employment in Portugal are cointegrated and there is bi-directional Granger causality between the three variables in the long-run. With the exception of the Granger causality between electricity consumption and economic growth, the rest of the variables are also bi-directional Granger causality in the short-run. Furthermore, we find that there is unidirectional Granger causality running from economic growth to electricity consumption, but no evidence of reversal causality. - Highlights: → We re-examine the relationship between electricity consumption, economic growth, and employment in Portugal. → The electricity consumption and economic growth is causing each other in the long-run. → In the short-run, economic growth Granger-cause electricity consumption, but no evidence of reversal causality. → Energy conservation policy will deteriorate the process of economic growth in the long-run. → Portugal should increase investment on R and D to design new energy savings technology.

  18. Marginal Employment Growth Effects In The South African Economy

    OpenAIRE

    Irrshad Kaseeram; Darma Mahadea

    2017-01-01

    South Africa relative to its peers (upper middle income countries) suffers from high unemployment and sub-optimal economic growth. This study investigates the ‘marginal effects of employment’ with respect to real output and capital in South Africa, using annual data covering the period 1946-2015.  It estimates the responsiveness of employment to real output growth and capital, employing the short and long-run dynamic interactions between these variables via the application of the VAR/VECM Joh...

  19. Employment growth, human capital and educational levels

    DEFF Research Database (Denmark)

    Hansen, Høgni Kalsø; Winther, Lars

    2015-01-01

    human capital in understanding regional growth. We examine to what extent different labour competences and capabilities relate to municipal employment growth using nine stratified, educational categories as proxies for different levels of human capital. Dividing municipalities into four spatial...... categories ranging from the urban to the peripheral, we conclude that there is a strong spatial distinction of educational structures with an urban bias, and that educational categories other than academic human capital can make an important contribution to our understanding of what drives employment growth......Contemporary studies in urban and regional development stress the importance of large city-regions as key places in modern capitalism taking the form of agglomerations of economic activities by industries, firms and highly skilled people. In this article, we challenge the strong focus on academic...

  20. Employment and Growth | Page 15 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Improving childcare options to create better economic opportunities for women in Nairobi slums. Language English. Read more about Accroître l'inclusion financière pour les femmes et les jeunes vulnérables : Proyecto Capital. Language French. Read more ...

  1. Has growth been good for women’s employment in Pakistan?

    NARCIS (Netherlands)

    H. Majid (Hadia); K.A. Siegmann (Karin Astrid)

    2017-01-01

    textabstractIn this paper, we analyse the gender inclusiveness of Pakistan’s economic growth performance as measured by the rate at which employment changes when GDP increases by one percentage point. Our results show not only differences in such employment elasticities across sectors but also

  2. Ecological economics and economic growth.

    Science.gov (United States)

    Victor, Peter A

    2010-01-01

    Boulding's 1966 paper on the economics of spaceship Earth established the framework for ecological economics and an understanding of economic growth. In ecological economics, economies are conceptualized as open subsystems of the closed biosphere and are subject to biophysical laws and constraints. Economic growth measured as an increase in real gross domestic product (GDP) has generally been associated with increases in the use of energy and materials and the generation of wastes. Scale, composition, and technology are the proximate determinants of environmental impacts. They are often reduced to two: scale (GDP) and intensity (impact per unit GDP). New work described in this paper defines "green" growth as intensity that declines faster than scale increases. Similarly, "brown" growth occurs when intensity declines more slowly than increases in scale, and "black" growth happens when both scale and intensity increase. These concepts are then related to the environmental Kuznets curve, which can be understood as a transition from brown to green growth. Ecological economics provides a macroperspective on economic growth. It offers broad policy principles, and it challenges the primacy of economic growth as a policy objective, but many important questions remain.

  3. Policy Analysis on Growth and Employment - PAGE II | IDRC ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Policy Analysis on Growth and Employment - PAGE II. This project by the Partnership for Economic Policy (PEP) will support quality ... The project is supported by the UK's Department for International Development, and additional funding is ...

  4. Employment growth through labor flow networks.

    Science.gov (United States)

    Guerrero, Omar A; Axtell, Robert L

    2013-01-01

    It is conventional in labor economics to treat all workers who are seeking new jobs as belonging to a labor pool, and all firms that have job vacancies as an employer pool, and then match workers to jobs. Here we develop a new approach to study labor and firm dynamics. By combining the emerging science of networks with newly available employment micro-data, comprehensive at the level of whole countries, we are able to broadly characterize the process through which workers move between firms. Specifically, for each firm in an economy as a node in a graph, we draw edges between firms if a worker has migrated between them, possibly with a spell of unemployment in between. An economy's overall graph of firm-worker interactions is an object we call the labor flow network (LFN). This is the first study that characterizes a LFN for an entire economy. We explore the properties of this network, including its topology, its community structure, and its relationship to economic variables. It is shown that LFNs can be useful in identifying firms with high growth potential. We relate LFNs to other notions of high performance firms. Specifically, it is shown that fewer than 10% of firms account for nearly 90% of all employment growth. We conclude with a model in which empirically-salient LFNs emerge from the interaction of heterogeneous adaptive agents in a decentralized labor market.

  5. Employment growth through labor flow networks.

    Directory of Open Access Journals (Sweden)

    Omar A Guerrero

    Full Text Available It is conventional in labor economics to treat all workers who are seeking new jobs as belonging to a labor pool, and all firms that have job vacancies as an employer pool, and then match workers to jobs. Here we develop a new approach to study labor and firm dynamics. By combining the emerging science of networks with newly available employment micro-data, comprehensive at the level of whole countries, we are able to broadly characterize the process through which workers move between firms. Specifically, for each firm in an economy as a node in a graph, we draw edges between firms if a worker has migrated between them, possibly with a spell of unemployment in between. An economy's overall graph of firm-worker interactions is an object we call the labor flow network (LFN. This is the first study that characterizes a LFN for an entire economy. We explore the properties of this network, including its topology, its community structure, and its relationship to economic variables. It is shown that LFNs can be useful in identifying firms with high growth potential. We relate LFNs to other notions of high performance firms. Specifically, it is shown that fewer than 10% of firms account for nearly 90% of all employment growth. We conclude with a model in which empirically-salient LFNs emerge from the interaction of heterogeneous adaptive agents in a decentralized labor market.

  6. Correlations between Labor Employment and Economic Growth

    Directory of Open Access Journals (Sweden)

    Sfichi Elena Daniela

    2017-01-01

    Full Text Available The main objectives of macroeconomic policy for most governments are: a high level of labouremployment, price stability and high rate of economic growth. As far as I walk in life, I learnsomething new, everywhere I go, I find something that fascinates me. This is why this subject hasan influence over me, I wonder every day why people find a job to maintain with such difficulty andwhy they are so lazy when they hear about work. This type of behaviour leads to a huge increase ofunemployment, because people leave their courage under an invisible line and create a fakepersonality where they hide saying that they can’t do what society wants. In case that increasinginflation is obvious, unemployment is decreasing and people are trying to find something to do, towork, because inflation also leads to some actions which affect directly the unemployed ones.

  7. Investigating Causality Between Agricultural and Economic Growth in Iran

    Directory of Open Access Journals (Sweden)

    A. Falsafian

    2010-10-01

    Full Text Available Although rate of economic growth is not the only way to measure economic development, it is relatively more important than the other indices. Agriculture sector plays the main role on economic growth and sustainable development. In addition, it has significant impact on most social, political and economic issues by producing strategic food products for ever-increasing population. Therefore, the present study investigated causal relationship between agricultural and economic growth in Iran. To this end, the Granjer’s causality test was used after employing the Augmented Dicky-Fuller test to see if the variables under consideration are stationary. The result showed that there is a long learn feedback relationship between these variables and agricultural developments.

  8. Exchange Rate Volatility and Employment Growth in Developing Countries: Evidence from Turkey

    OpenAIRE

    Demir, Firat

    2010-01-01

    Employing a unique panel of 691 private firms that accounted for 26% of total value-added in manufacturing in Turkey, the paper explores the impacts of exchange rate volatility on employment growth during the period of 1983 - 2005. The empirical analysis using a variety of specifications, estimation techniques, and robustness tests suggests that exchange rate volatility has a statistically and economically significant employment growth reducing effect on manufacturing firms. Using point estim...

  9. Agglomeration externalities, market structure and employment growth in high-tech industries: Revisiting the evidence

    Directory of Open Access Journals (Sweden)

    Cieślik Andrzej

    2015-09-01

    Full Text Available In this paper we revisit the existing empirical evidence on the effects of various agglomeration externalities and the market structure on employment growth in the high-tech industries of the European Economic Area (EEA. Our study is based on the dynamic panel dataset of two-digit NACE rev 1.1. industries in 285 regions of the European Economic Area for the period 1995-2007. We find that employment growth is negatively related to competition, while localization and urbanization externalities do not seem to affect growth.

  10. Electricity consumption and economic growth in South Africa. A trivariate causality test

    Energy Technology Data Exchange (ETDEWEB)

    Odhiambo, Nicholas M. [Economics Department, University of South Africa (UNISA), P.O. Box 392, UNISA, 0003, Pretoria (South Africa)

    2009-09-15

    In this paper we examine the causal relationship between electricity consumption and economic growth in South Africa. We incorporate the employment rate as an intermittent variable in the bivariate model between electricity consumption and economic growth - thereby creating a simple trivariate causality framework. Our empirical results show that there is a distinct bidirectional causality between electricity consumption and economic growth in South Africa. In addition, the results show that employment in South Africa Granger-causes economic growth. The results apply irrespective of whether the causality is estimated in the short-run or in the long-run formulation. The study, therefore, recommends that policies geared towards the expansion of the electricity infrastructure should be intensified in South Africa in order to cope with the increasing demand exerted by the country's strong economic growth and rapid industrialisation programme. This will certainly enable the country to avoid unprecedented power outages similar to those experienced in the country in mid-January 2008. (author)

  11. An Empirical Study on the Nexus of Poverty, GDP Growth, Dependency Ratio and Employment in Developing Countries

    Directory of Open Access Journals (Sweden)

    Sinnathurai Vijayakumar

    2013-06-01

    Full Text Available The paper has scrutinized the nexus among poverty, economic growth, employment and dependency ratio in developing countries. The primary intension behind this study is to find out the association between variables such as poverty, economic growth, agricultural and industrial employment and dependency ratio due to the gap in the existing literature. This study fully relies on cross country data and involves forty one countries which have been selected from Asia,Latin America and Sub-Saharan Africa. For this study, OLS method, correlation and econometric tools have been employed. Two models employed in the analysis are goodness of fit because both p-value and F-statistics in the models are less than 5%. The results bring to light the fact that age dependency ratio has had a tremendous impact on poverty and poverty has had a relatively very high impact on the age dependency ratio. Even though Industrial employment has anegative association with poverty incidence, it does not have a significant impact on poverty. The finding that economic growth, poverty and industrial employment significantly affect the agedependency ratio in model two is practicable and consistent with economic theories. Thus stable economic growth with an increase in labour productivity and labour intensive technology is anactive remedy for solving this problem.

  12. The dynamic relationship between health expenditure and economic growth: is the health-led growth hypothesis valid for Turkey?

    Science.gov (United States)

    Atilgan, Emre; Kilic, Dilek; Ertugrul, Hasan Murat

    2017-06-01

    The well-known health-led growth hypothesis claims a positive correlation between health expenditure and economic growth. The aim of this paper is to empirically investigate the health-led growth hypothesis for the Turkish economy. The bound test approach, autoregressive-distributed lag approach (ARDL) and Kalman filter modeling are employed for the 1975-2013 period to examine the co-integration relationship between economic growth and health expenditure. The ARDL model is employed in order to investigate the long-term and short-term static relationship between health expenditure and economic growth. The results show that a 1 % increase in per-capita health expenditure will lead to a 0.434 % increase in per-capita gross domestic product. These findings are also supported by the Kalman filter model's results. Our findings show that the health-led growth hypothesis is supported for Turkey.

  13. Energy consumption and economic growth in China: A multivariate causality test

    International Nuclear Information System (INIS)

    Wang Yuan; Wang Yichen; Zhou Jing; Zhu Xiaodong; Lu Genfa

    2011-01-01

    This study takes a fresh look at the direction of causality between energy consumption and economic growth in China during the period from 1972 to 2006, using a multivariate cointegration approach. Given the weakness associated with the bivariate causality framework, the current study performs a multivariate causality framework by incorporating capital and labor variables into the model between energy consumption and economic growth based on neo-classical aggregate production theory. Using the recently developed autoregressive distributed lag (ARDL) bounds testing approach, a long-run equilibrium cointegration relationship has been found to exist between economic growth and the explanatory variables: energy consumption, capital and employment. Empirical results reveal that the long-run parameter of energy consumption on economic growth in China is approximately 0.15, through a long-run static solution of the estimated ARDL model, and that for the short-run is approximately 0.12 by the error correction model. The study also indicates the existence of short-run and long-run causality running from energy consumption, capital and employment to economic growth. The estimation results imply that energy serves as an important source of economic growth, thus more vigorous energy use and economic development strategies should be adopted for China. - Highlights: → Cointegration is only present when real GDP is the dependent variable. →The long-run causality running from energy consumption to economic growth. →China is an energy dependent economy.

  14. Stock Market and Sustainable Economic Growth in Nigeria

    Directory of Open Access Journals (Sweden)

    Erasmus L Owusu

    2016-11-01

    Full Text Available This paper examines the relationship between stock market evolution and sustainable economic growth in Nigeria. The study employs Auto-Regressive Distributed Lag (ARDL-bounds testing approach and a combined stock market indicators index to examine the relationship. The paper finds that, in the long run, stock markets have no positive and at best mixed effect on economic growth in Nigeria. This finding supports the numerous past studies, which have reported negative/mixed or inconclusive results on the effects of stock markets on economic growth. The paper, therefore, concludes that, there is the need for increasing financial deepening and the removal of bottlenecks in the financial sectors of the economy by providing further public and institutional education on the value of stock markets for economic development.

  15. Public procurement, governance and economic growth: some policy ...

    African Journals Online (AJOL)

    Public procurement, governance and economic growth: some policy ... Employing the Keynesian income-expenditure approach to measuring the Gross Domestic ... reduce wastage, enhance the effectiveness of government spending, ensure ...

  16. Size of government and economic growth: A nonlinear analysis

    Directory of Open Access Journals (Sweden)

    Herath Shanaka

    2012-01-01

    Full Text Available The new growth theory establishes, among other things, that government expenditure can manipulate the economic growth of a country. This study attempts to explain whether government expenditure increases or decreases economic growth in the context of Sri Lanka. Results obtained employing a productive output series and applying an analytical framework based on second degree polynomial regression are generally consistent with previous findings: government expenditure and economic growth are positively correlated; excessive government expenditure is negatively correlated with economic growth; and investment promotes growth. In a separate section, the article examines Armey’s idea of a quadratic curve that explains the level of government expenditure in an economy and the corresponding level of economic growth [Armey, D. (1995. The Freedom Revolution. Washington, D.C.: Regnery Publishing Co.]. The findings confirm the possibility of constructing the Armey curve for Sri Lanka, and it estimates the optimal level of government expenditure to be approximately 27%. This article adds to the literature indicating that the Armey curve is a reality not only for developed economies, but also for developing economies.

  17. Energy consumption, political regime and economic growth in sub-Saharan Africa

    International Nuclear Information System (INIS)

    Adams, Samuel; Klobodu, Edem Kwame Mensah; Opoku, Eric Evans Osei

    2016-01-01

    In this paper, we examine the relationship between energy consumption and economic growth, and how democracy moderates this relationship using panel data of 16 sub-Saharan African (SSA) countries for the period 1971–2013. Employing a panel vector autoregressive model (PVAR) in a generalized method of moments (GMM) framework, the findings support the feedback hypothesis for energy consumption and growth. Second, the interaction variable (energy consumption and democracy) is positively and significantly related to economic growth, supporting the view that democracy moderates the energy consumption and growth nexus. Further, the results provide strong evidence of a uni-directional relationship from trade openness to energy consumption. Additionally, impulse responses and variance decompositions also confirm positive feedback relationships between energy consumption and economic growth, energy prices and economic growth. - Highlights: •Feedback exists between energy consumption and economic growth. •Democracy moderates the energy consumption and growth nexus. •positive feedback between energy prices and economic growth. •Uni-directional relationship from openness to energy consumption.

  18. Financial Intermediaries and Economic Growth: The Nigerian Evidence

    Directory of Open Access Journals (Sweden)

    Oba Efayena

    2014-06-01

    Full Text Available This study seeks to examine the role of financial intermediaries and to find out whether financial intermediaries impact on economic growth in Nigeria. The study adopts the Harrod-Domar growth model which states that economic growth will proceed at the rate which society can mobilize domestic savings resources coupled with the productivity of the investment. The study employed the use of secondary data for the period 1981 to 2011 which were sourced from the CBN statistical bulletin. Nigerian banks being the dominant financial intermediaries, loans credits and advances from banks were used as proxy for the independent variable. Gross domestic product (GDP was used as proxy for economic growth. Using the technique of correlation analysis in determining the association between loan credits and advances, and the GDP, the study reveals a relatively high positive correlation between financial intermediaries and economic growth in the Nigerian economy. The study recommends that Nigerian banks should lend higher proportion of their loanable funds to small and medium enterprises (SMEs and should invest in information technology and human capital.

  19. Targeting Employment Expansion, Economic Growth and Development in Sub-Saharan Africa: Outlines of an Alternative Economic Programme for the Region

    OpenAIRE

    James Heintz; Robert Pollin

    2008-01-01

    This paper outlines the elements of a development-targeted economic framework aimed at creating decent employment opportunities as a strategy for realizing core human development goals in Africa. Four policy areas form the core of the paper: monetary policy and inflation, exchange rate policy, development finance and financial sector reforms, and public investment and fiscal policy. This paper draws heavily on three large UNDP-sponsored studies of employment-oriented economic policies in Keny...

  20. EmployRES. The impact of renewable energy policy on economic growth and employment in the European Union. Final report

    International Nuclear Information System (INIS)

    Ragwitz, M.; Schade, W.; Breitschopf, B.; Walz, R.; Helfrich, N.; Rathmann, M.; Resch, G.; Panzer, C.; Faber, T.; Haas, R.; Nathani, C.; Holzhey, M.; Konstantinaviciute, I.; Zagame, P.; Fougeyrollas, A.; Le Hir, B.

    2009-04-01

    This study aims to meet the need for scientifically robust information on the gross effects (direct and indirect) as well as on the net effects (including both conventional replacement and budget effects) of renewable energy policies in Europe. Furthermore, the future development of RES in Europe will take place against the background of a global market for RES technology. This global market and the potential share of European industries in it will play a critical role in the potentials for growth and employment. This study aims to provide a sound scientific analysis of these issues. This report is divided into four main parts, A, B, C and D. While the first three covers the introduction, the theoretical approach, the modelling steps and structure of the report, the fourth part, part D, discusses in detail the models and results of the projects. It begins with chapter D 1 which describes past RES deployment and its costs. Then follows the past macroeconomic impacts presented by gross effects on employment and value added (D 2). Thereafter, the future potential (D 3) and future deployment (D 4) of renewable energy sources (RES) are discussed. Before the presentation of the future gross and net effects, the five scenarios used in the macro-economic models (D 5) are explained in detail. Finally we depict the future gross and net impacts on employment and GDP in D 6 and D 7, respectively. The comparison between the results of the two models and our conclusion for the study follows in chapter D 8 and 9

  1. Population growth and economic growth.

    Science.gov (United States)

    Narayana, D L

    1984-01-01

    This discussion of the issues relating to the problem posed by population explosion in the developing countries and economic growth in the contemporary world covers the following: predictions of economic and social trends; the Malthusian theory of population; the classical or stationary theory of population; the medical triage model; ecological disaster; the Global 2000 study; the limits to growth; critiques of the Limits to Growth model; nonrenewable resources; food and agriculture; population explosion and stabilization; space and ocean colonization; and the limits perspective. The Limits to Growth model, a general equilibrium anti-growth model, is the gloomiest economic model ever constructed. None of the doomsday models, the Malthusian theory, the classical stationary state, the neo-Malthusian medical triage model, the Global 2000 study, are so far reaching in their consequences. The course of events that followed the publication of the "Limits to Growth" in 1972 in the form of 2 oil shocks, food shock, pollution shock, and price shock seemed to bear out formally the gloomy predictions of the thesis with a remarkable speed. The 12 years of economic experience and the knowledge of resource trends postulate that even if the economic pressures visualized by the model are at work they are neither far reaching nor so drastic. Appropriate action can solve them. There are several limitations to the Limits to Growth model. The central theme of the model, which is overshoot and collapse, is unlikely to be the course of events. The model is too aggregative to be realistic. It exaggerates the ecological disaster arising out of the exponential growth of population and industry. The gross underestimation of renewable resources is a basic flaw of the model. The most critical weakness of the model is its gross underestimation of the historical trend of technological progress and the technological possiblities within industry and agriculture. The model does correctly emphasize

  2. Exploring economic structure and drivers of economic growth in Botswana

    Directory of Open Access Journals (Sweden)

    Patricia Lindelwa Makoni

    2015-12-01

    Full Text Available This article set out to analyse the economic structure and main economic drivers in Botswana. Botswana, a country in sub-Saharan Africa, is a relatively small economy, hugely dependent on its diamond mineral wealth. Concerns have arisen in recent years that the diamond deposits will soon be depleted and the country therefore needs to embark on a diversification programme to broaden its economic base. In order to understand the Botswana economy, its economic structure and current domestic sectorial performance were evaluated, as well as its trends in imports and exports. An analysis of the data shows that, regardless of the awareness of the sensitivity to external shocks of commodity prices, as well as the obvious future depletion of diamond reserves, the Botswana economy continues to rely on diamonds, at the expense of attracting international capital flows to enhance and maintain sustainable economic growth, through investments in agriculture, manufacturing and tourism. It is therefore recommended that the Government of Botswana becomes proactive and implements recommended policies to diversify its economy, so that it can sustain or improve its economic growth by becoming a prime destination of international capital and domestic private sector investment, thereby increasing employment and trade opportunities.

  3. Economic growth, ecological economics, and wilderness preservation

    Science.gov (United States)

    Brian Czech

    2000-01-01

    Economic growth is a perennial national goal. Perpetual economic growth and wilderness preservation are mutually exclusive. Wilderness scholarship has not addressed this conflict. The economics profession is unlikely to contribute to resolution, because the neoclassical paradigm holds that there is no limit to economic growth. A corollary of the paradigm is that...

  4. A note on inflation targeting and economic growth in Brazil

    Directory of Open Access Journals (Sweden)

    Gilberto Libânio

    2010-03-01

    Full Text Available This paper analyzes the relation between monetary policy and economic performance in Brazil during the period 1999-2006. In particular, it discusses the growth effects of the inflation targeting regime through its effects on aggregate demand. It is argued that monetary policy under IT reacts in a procyclical and asymmetric way to fluctuations in economic activity (too "tight" during recessions, not so "loose" during expansions. Such pattern may generate a downward bias in aggregate demand, with negative real effects on output growth and employment. Our results suggest that monetary policy has been procyclical and asymmetrical in Brazil under inflation targeting. The main economic policy implication of this study is that central banks should consider more seriously the real effects of monetary policy on output and employment.

  5. Coal consumption and economic growth nexus: Evidence from bootstrap panel Granger causality test

    Directory of Open Access Journals (Sweden)

    Anoruo Emmanuel

    2017-01-01

    Full Text Available This paper explores the causal relationship between coal consumption and economic growth for a panel of 15 African countries using bootstrap panel Granger causality test. Specifically, this paper uses the Phillips-Perron unit root test to ascertain the order of integration for the coal consumption and economic growth series. A bootstrap panel Granger causality test is employed to determine the direction of causality between coal consumption and economic growth. The results provide evidence of unidirectional causality from economic growth to coal consumption. This finding implies that coal conservation measures may be implemented with little or no adverse impact on economic growth for the sample countries as a group.

  6. Energy consumption and economic growth. Assessing the evidence from Greece

    International Nuclear Information System (INIS)

    Hondroyiannis, George; Lolos, Sarantis; Papapetrou, Evangelia

    2002-01-01

    This paper attempts to shed light into the empirical relationship between energy consumption and economic growth, for Greece (1960-1996) employing the vector error-correction model estimation. The vector specification includes energy consumption, real GDP and price developments, the latter taken to represent a measure of economic efficiency. The empirical evidence suggests that there is a long-run relationship between the three variables, supporting the endogeneity of energy consumption and real output. These findings have important policy implications, since the adoption of suitable structural policies aiming at improving economic efficiency can induce energy conservation without impeding economic growth

  7. Agricultural Trade and Economic Growth in East African Community ...

    African Journals Online (AJOL)

    East African Community states, as many other states in the region, depend largely on agricultural activities to boost their economic growth and create employment. Up to 80 per cent of the populace depends on agriculture directly and indirectly for food, employment and income, while about 40 million people in EAC suffer ...

  8. Economics of Sustainable Development. Competitiveness and Economic Growth

    Directory of Open Access Journals (Sweden)

    Dorel AILENEI

    2011-02-01

    Full Text Available Economic growth is one of the most important issues of humanity. Both in national economies and world economy, recession and prosperity periods are regularly succeeding with different amplitudes. But beyond these fluctuations and their effects, the results are important: performance and economic growth. Because of the problematical issue of economic growth, the authors are trying to critically reflect on the economic growth concept and on its implications on the praxis area. Although there is a large literature about economic growth modeling, it is intriguing that there still are some serious obstacles for conceptualization and praxis. Only the simple fact that the economic growth process needs serious thinking on the time dimension is sufficient for understanding the real difficulties of this problematical issue. As for the economic growth praxis, a clear analysis of the interests system within an economy is needed. Without trying to find miraculous solutions for the economic growth issue, the authors suggest a clear and correct analysis of this important subject.

  9. Employment growth in rural regions of the EU; A quantitative analysis for the period 1980-1995

    NARCIS (Netherlands)

    Esposti, R.; Godeschalk, F.E.; Kuhmonen, T.; Post, J.H.; Sotte, F.; Terluin, I.J.

    1999-01-01

    In this report it is examined whether rural regions in the EU with a relatively high (low) employment growth in the 1980s and early 1990s have some common socio-economic characterics, which can contribute to the explanation of their employment performance. We have grouped the socio-economic

  10. Causal independence between energy consumption and economic growth in Liberia: Evidence from a non-parametric bootstrapped causality test

    International Nuclear Information System (INIS)

    Wesseh, Presley K.; Zoumara, Babette

    2012-01-01

    This contribution investigates causal interdependence between energy consumption and economic growth in Liberia and proposes application of a bootstrap methodology. To better reflect causality, employment is incorporated as additional variable. The study demonstrates evidence of distinct bidirectional Granger causality between energy consumption and economic growth. Additionally, the results show that employment in Liberia Granger causes economic growth and apply irrespective of the short-run or long-run. Evidence from a Monte Carlo experiment reveals that the asymptotic Granger causality test suffers size distortion problem for Liberian data, suggesting that the bootstrap technique employed in this study is more appropriate. Given the empirical results, implications are that energy expansion policies like energy subsidy or low energy tariff for instance, would be necessary to cope with demand exerted as a result of economic growth in Liberia. Furthermore, Liberia might have the performance of its employment generation on the economy partly determined by adequate energy. Therefore, it seems fully justified that a quick shift towards energy production based on clean energy sources may significantly slow down economic growth in Liberia. Hence, the government’s target to implement a long-term strategy to make Liberia a carbon neutral country, and eventually less carbon dependent by 2050 is understandable. - Highlights: ► Causality between energy consumption and economic growth in Liberia investigated. ► There is bidirectional causality between energy consumption and economic growth. ► Energy expansion policies are necessary to cope with demand from economic growth. ► Asymptotic Granger causality test suffers size distortion problem for Liberian data. ► The bootstrap methodology employed in our study is more appropriate.

  11. INFORMATION AND TELECOMMUNICATION INFRASTRUCTURE AND ECONOMIC GROWTH: AN EXPERIENCE FROM NIGERIA

    Directory of Open Access Journals (Sweden)

    Wasiu Ishola Oyeniran

    2016-11-01

    Full Text Available The study examines the effect of investment in telecommunication infrastructure on economic growth in Nigeria. Using time series data from 1980 and 2012, the study employs autoregressive distributed lag (ARDL bounds testing approach proposed by Pesaran et al., (2001 to estimate the long run and short run effect of investment in telecommunication infrastructure on economic growth. The result from cointegration test showed presence of long run relationship between dependent and all explanatory variables. The study found foreign direct investment in information and communication technology more effective in improving and raising economic growth in Nigeria than government investment. The output from Chow breakpoint test shows that the liberalization of telecommunication industry introduced in 1992 has significant effect on economic growth in Nigeria. Therefore, it is imperative for Nigerian government to increase its spending on telecom and attract more foreign investment in telecommunication in order to boost productivity and economic growth.

  12. Analysis of the Connections between EU Economic Growth and the Lisbon Strategy

    OpenAIRE

    Marius-Corneliu MARINAŞ

    2010-01-01

    This research tries to offer an explanation for the motivation to implement the Lisbon Strategy, its main failures and its impact upon EU economic growth process. The Lisbon Strategy, which was adopted in 2000, should have resulted in the structural change of the European Union’s economy until 2010, if taking into consideration the promotion of a sustainable economic growth, which could encourage the increase of employment and the provision of economic and social cohesion...

  13. Economic Growth, Economic Freedom, and Governance

    OpenAIRE

    Cebula, Richard; Ekstrom, Marcus

    2008-01-01

    This exploratory study examines the impact of various forms of economic freedom and various dimensions of governance, as well as a number of economic factors, on economic growth among OECD nations. Empirical estimation finds that the natural log of per capita purchasing-power-parity adjusted real GDP in OECD nations is positively impacted by business freedom, monetary freedom, trade freedom, and property rights security. Economic growth is found to be negatively affected by perceived governme...

  14. Earthquakes and economic growth

    OpenAIRE

    Fisker, Peter Simonsen

    2012-01-01

    This study explores the economic consequences of earthquakes. In particular, it is investigated how exposure to earthquakes affects economic growth both across and within countries. The key result of the empirical analysis is that while there are no observable effects at the country level, earthquake exposure significantly decreases 5-year economic growth at the local level. Areas at lower stages of economic development suffer harder in terms of economic growth than richer areas. In addition,...

  15. Causal relationship between nuclear energy consumption and economic growth: A multi-country analysis

    International Nuclear Information System (INIS)

    Yoo, Seung-Hoon; Ku, Se-Ju

    2009-01-01

    This paper attempts to investigate the causal relationship between nuclear energy consumption and economic growth using the data from six countries among 20 countries that have used nuclear energy for more than 20 years until 2005. To this end, time-series techniques including the tests for unit roots, co-integration, and Granger-causality are employed to Argentina, France, Germany, Korea, Pakistan, and Switzerland. The main conclusion is that the causal relationship between nuclear energy consumption and economic growth is not uniform across countries. In the case of Switzerland, there exists bi-directional causality between nuclear energy consumption and economic growth. This means that an increase in nuclear energy consumption directly affects economic growth and that economic growth also stimulates further nuclear energy consumption. The uni-directional causality runs from economic growth to nuclear energy consumption without any feedback effects in France and Pakistan, and from nuclear energy to economic growth in Korea. However, any causality between nuclear energy consumption and economic growth in Argentina and Germany is not detected.

  16. Foreign Direct Investment, Host Country Factors and Economic Growth

    OpenAIRE

    Edna Maeyen Solomon

    2011-01-01

    This paper analyses how the levels of economic development, human capital, financial development and the qualities of the economic and political environments in host countries simultaneously affects the impact of aggregate inflows of Foreign Direct Investment (FDI) on economic growth. Multiple interaction terms are employed between inward FDI and each of the host country factors mentioned above. The System GMM estimator is applied to a panel of 111 countries from 1981 to 2005. The results sho...

  17. The Dynamic Relationship between Crime and Economic Growth in Nigeria

    Directory of Open Access Journals (Sweden)

    Adekoya Adenuga Fabian

    2017-03-01

    Full Text Available Crime is a major impediment to economic growth and development in Nigeria despite measures taken to reduce it. There is, however, currently no major statistical analysis of how crime affects economic growth in that country. This study examines the link between crime and growth based on the theory of rational choice and empirical data. Exogenous and endogenous growth models are employed, and include deterrence variables. The period examined is 1970–2013 and estimation is done using the autoregressive distributed lag model. The results of our study show that crime affects economic growth at a 1% and 10% level of significance. In other words, crime imposes the costs of prosecution and punishment on the citizens and country, which influences the growth of the economy. Given our results, we suggest that police and the system of justice should be strengthened. Indeed, this may be necessary if the development target stated in Nigeria vision 20: 2020 is to be reached.

  18. Causality analysis of diesel consumption and economic growth in Cameroon

    International Nuclear Information System (INIS)

    Tamba, Jean Gaston; Njomo, Donatien; Limanond, Thirayoot; Ntsafack, Borel

    2012-01-01

    This study examines the causal relationship between diesel consumption and economic growth in Cameroon by using a three-step modern time-series technique. Tests for unit roots, cointegration, and Granger-causality based on error correction model are employed on annual data covering the period 1975–2008. Empirical results of the study confirm the presence of a long-run equilibrium relationship between diesel consumption and economic growth. The error correction model shows that an estimated 1% increase in economic growth causes a rise in diesel consumption of 1.30% in the long-run. The overall results show that there exists bidirectional causality in the long-run relationship and no causality in the short-run relationship between diesel consumption and economic growth at the 5% level of significance. Thus, the energy policies in Cameroon should place priority on the discovery of new oil field and building capacity additions of the refinery to increase production of petroleum products, as this would propel the economic growth of the country. - Highlights: ► We examine the causal relationship between diesel consumption and GDP in Cameroon. ► we analyze the petroleum products sector in Cameroon. ► 1% increase in economic growth causes a rise in diesel consumption of 1.30%. ► The policy aimed at improving diesel supply have a positive impact on economics.

  19. Insurance Market Activity and Economic Growth: Evidence from Nigeria

    Directory of Open Access Journals (Sweden)

    Philip Chimobi Omoke

    2012-04-01

    Full Text Available The focus of this study is to empirically assess insurance market activities in Nigeria withthe view to determining its impact on economic growth. The period of study was 1970- 2008, thestudy made use of insurance density measures (premium per capita as a measure for insurancemarket activity and real GDP for economic growth. It also employed control variables such asinflation and savings rate as other determinants ofgrowth. The Johansen cointegration and vectorerror correction approach was used to estimate therelationship between the variables. All thevariables used were stationary at first differenceand the result showed a long term relationshipexisting among the variables. The hallmark findingof this study is that the insurance sector did notreveal any positively and significant affect on economic growth in Nigeria within the period of study.The result shows a low insurance market activity inNigeria and that Nigerians have not fully embracethe insurance industry despite its importance to the growth of theeconomy.

  20. The role of coal consumption in the economic growth of the Polish economy in transition

    International Nuclear Information System (INIS)

    Gurgul, Henryk; Lach, Lukasz

    2011-01-01

    The main goal of this paper is an analysis of the causal links between quarterly coal consumption in the Polish economy and GDP. For the sake of accurate computation an additional variable - employment - was also taken into account. Computations conducted for the period Q1 2000 to Q4 2009 by means of recent causality techniques confirmed the neutrality of hard coal usage with respect to economic growth. On the other hand, calculations for the pairs lignite-GDP and total coal consumption-GDP showed the existence of a significant nonlinear causality from coal usage to economic growth. This is clear evidence for claiming that lignite plays an important role in the economic growth of the Polish economy. Furthermore, each coal-related variable was found to have a nonlinear causal impact on employment. Because of the relatively short length of available time series we additionally applied bootstrap critical values. The empirical results computed by both methods did not exhibit significant differences. These results have important policy implications. In general, our findings support the hypothesis that closing hard coal mines in Poland should have no significant repercussions on economic growth. However, this does not seem to be true for lignite mines. - Research highlights: → The reduction of hard coal consumption should not hamper economic growth in Poland. → Lignite consumption is an important factor determining economic growth in Poland. → The usage of lignite and hard coal has a causal impact on employment in Poland.

  1. HUMAN CAPITAL OF THE REGIONS-DRIVEN FACTOR FOR GROWTH AND EMPLOYMENT.THE CASE OF ROMANIA

    Directory of Open Access Journals (Sweden)

    Olimpia Neagu

    2011-01-01

    Full Text Available The world is entering a new era - a time when economic wealth is created by knowledgeand skills and the human capital of nations, regions and cities will determine the winnersfrom the loosers. The paper is focused on the human capital’s performance of the romanianregions, measured by economic growth and employment, analysing statistical data fromeuropean sources. There are differences between regions regarding the human capitalendowment, employment and economic growth. The assumption of a positive correlationbetween these variables is partially confirmed. Further researches are needed to measure theimpact of other factors such as: human migration or attractivity of regions. Designing anddeveloping regional human capital strategies would be a good starting point for a positiveperspective of the Europe 2020 strategy implementation.

  2. The impact of the British model on economic growth

    Directory of Open Access Journals (Sweden)

    Simon György Jr.

    2007-01-01

    Full Text Available The paper is searching for an answer to the question how the British model affected economic development in its mother country, the United Kingdom. The statistical analysis, models of mathematical economics and econometric investigation make it probable to conclude that there was a substantial difference in success between the Thatcherite and the Blairite economic policies; the latter proved more effective. It is particularly remarkable that the Blairite model, connecting privatization with a successful employment policy, reduced unemployment and social sensitivity, has not only speeded up economic growth but also improved economic equilibrium, curtailing, among others, the budget deficit.

  3. Investigating the Impact of Dollarization on Economic Growth: A Case of Zimbabwe

    Directory of Open Access Journals (Sweden)

    Ruby NGAMANYA MUNHUPEDZI

    2017-03-01

    Full Text Available This study examined the effects of dollarization on business in Zimbabwe focusing on economic indicators such as inflation rate, GDP, employment and ease of doing business during the period 2009-2015. Zimbabwe experienced a very difficult economic phase characterised by hyperinflation, negative economic growth, unavailability of basic commodities and negative economic growth rates during the period 1998-2008. In 2009 the country adopted a multi-currency system whereby the Zimbabwean dollar was in circulation alongside various other currencies, with the United States Dollar and the South African Rand being the dominant ones. There has been general speculation that Zimbabwe’s economic problems are due to dollarization. Through analysing data from interviews and secondary sources, the research established that dollarization brought about stability in the economy, arrested inflation, and caused a marginal increase in GDP. However, the response of the employment rate was independent of the dollarization and may be attributed to other factors such as Economic Structural Adjustment Programme (ESAP in 1992, the global economic crisis in 2008 and the absence of reliable data.

  4. Environmentally Sustainable Economic Growth

    Directory of Open Access Journals (Sweden)

    Stelian Brad

    2016-05-01

    Full Text Available Economic growth and sustainable development are important issues for social prosperity. Sustainable development strives for moderate and responsible use within the economic activity of the limited resources of our planet, whereas economic growth does not limit the resource exploitation and energy, being mainly focused on productivity increase. From this perspective, both conceptual and operational contradictions occur between the two pillars of prosperity. This paper looks to these contradictions and proposes some streams of intervention such as economic growth and environmental sustainability to operate in harmony. A structured framework for innovative problem solving is considered in this respect. Results of this research show that it is possible to induce smart measures in the economic system for directing businesses towards new paradigms where economic growth is possible without negative effects on environmental sustainability.

  5. Determinants of Economic Growth in V4 Countries and Romania

    Directory of Open Access Journals (Sweden)

    Simionescu Mihaela

    2017-03-01

    Full Text Available The middle and long-term slowdown in growth dynamics could bring serious social and political problems for V4 countries (Czech Republic, Slovak Republic, Hungary, Poland and Romania. It would threaten reaching benefits from potential of convergence process with the developed countries of the European Union. As a result, the V4 economies and Romania should find solutions to achieving a sustainable growth that is associated with an improvement of their international competitiveness. This paper provides an empirical analysis of factors that might determine a stable economic growth in the five mentioned countries. The empirical analysis conducted for the period of 2003-2016 employed Bayesian generalized ridge regression. The main results indicated that the FDI promoted economic growth in all countries, except the Slovak Republic. Only in the Czech Republic, the expenditure on education generated economic growth, while the expenditure on R&D had positive effects in Romania, Hungary and the Czech Republic.

  6. Population growth, economic security, and cultural change in wilderness counties

    Science.gov (United States)

    Paul A. Lorah

    2000-01-01

    A familiar version of the “jobs versus the environment” argument asserts that wilderness areas limit economic growth by locking up potentially productive natural resources. Analysis of the development paths of rural Western counties shows that this is unlikely: the presence of Wilderness is correlated with income, employment and population growth. Similarly, Wilderness...

  7. Concept of self-employment

    OpenAIRE

    Startienė, Gražina; Remeikienė, Rita; Dumčiuvienė, Daiva

    2010-01-01

    The article deals with the theories that explain the growth of self-employment and help to determine the presumptions of the self-employment growth. Self-employment theories are classified to several groups, i.e. the economic and sociological-psychological as well as the “push” and “pull” theories. Economic theories of self-employment interpret financial motives of the person to pursue own business, while sociologicalpsychological theories of self-employment determine non-financial objectives...

  8. IMPACTS OF FOREIGN INVESTMENT ON ECONOMIC GROWTH IN TRANSITION COUNTRIES

    Directory of Open Access Journals (Sweden)

    Siniša Bosanac

    2016-12-01

    Full Text Available The current global economic crisis raises many questions and the most important imperative is to find solutions and recover the world economy. Neoliberalism as a cause of the crisis has shown fundamental shortcomings and proved that the market is an imperfect self-regulating system. At the present time in the media, politicians and some economists mention foreign direct investment (FDI as a life-saving solution for economic problems and economic growth. The analysis of the economic indicators proved that FDI cannot be, to the necessary extent, a generator of economic growth and that development of each country should be based on endogenous components. The development of critical thinking and questioning of the neoliberal concept, especially with today's time distance through comparisons of indicators such as economic growth, absence of inflation, employment and the export-import ratio, has revealed major systemic defects of the market fundamentalist policies. A strong indicator and argument to this thesis is particularly evident in the industrial production indexes, in the number of industrial workers and in the share of industry in GDP of transition countries.

  9. Impact of Insurance Market on Economic Growth in Post-Transition Countries

    Directory of Open Access Journals (Sweden)

    Phutkaradze Jaba

    2014-12-01

    Full Text Available The purpose of this work is to identify whether the development of an insurance market is linked to economic growth in former transition countries. A multiple regression analysis is employed to estimate the insurance-growth relationship, using a cross-country panel dataset analysis tracking annual total insurance penetration in 10 countries over the 2000-2012 period, and applying a fixed effect model to test the hypothesis that this linkage is demonstrably positive. The results show a negative and statistically non-significant correlation between insurance and GDP growth, suggesting a lack of evidence that insurance promotes economic growth in post-transition economies.

  10. Does gross capital formation matter for economic growth in the CEMAC sub-region?

    Directory of Open Access Journals (Sweden)

    Emmanuel Nkoa Ongo

    2014-11-01

    Full Text Available This paper examines the effect of gross capital formation on the economic growth of the CEMAC sub- region. It draws inspiration from the endogenous growth model. Data for the study is collected from the World Bank Development Indicators. The estimation technique used for this study is the Generalized Least Square estimation technique. The results show that private investment has a significant positive association with economic growth. This is also the case of technical progress and infrastructural development. On the contrary, labour force tends to affect negatively economic growth in this sub-region. This suggests that countries of the sub region need to implement realistic employment policies.

  11. The causality between energy consumption and economic growth in Turkey

    International Nuclear Information System (INIS)

    Erdal, Guelistan; Erdal, Hilmi; Esenguen, Kemal

    2008-01-01

    This paper applies the causality test to examine the causal relationship between primary energy consumption (EC) and real Gross National Product (GNP) for Turkey during 1970-2006. We employ unit root tests, the augmented Dickey-Fuller (ADF) and the Philips-Perron (PP), Johansen cointegration test, and Pair-wise Granger causality test to examine relation between EC and GNP. Our empirical results indicate that the two series are found to be non-stationary. However, first differences of these series lead to stationarity. Further, the results indicate that EC and GNP are cointegrated and there is bidirectional causality running from EC to GNP and vice versa. This means that an increase in EC directly affects economic growth and that economic growth also stimulates further EC. This bidirectional causality relationship between EC and GNP determined for Turkey at 1970-2006 period is in accordance with the ones in literature reported for similar countries. Consequently, we conclude that energy is a limiting factor to economic growth in Turkey and, hence, shocks to energy supply will have a negative impact on economic growth

  12. Examining carbon emissions economic growth nexus for India: A multivariate cointegration approach

    International Nuclear Information System (INIS)

    Ghosh, Sajal

    2010-01-01

    The study probes cointegration and causality between carbon emissions and economic growth for India using ARDL bounds testing approach complemented by Johansen-Juselius maximum likelihood procedure in a multivariate framework by incorporating energy supply, investment and employment for time span 1971-2006. The study fails to establish long-run equilibrium relationship and long term causality between carbon emissions and economic growth; however, there exists a bi-directional short-run causality between the two. Hence, in the short-run, any effort to reduce carbon emissions could lead to a fall in the national income. This study also establishes unidirectional short-run causality running from economic growth to energy supply and energy supply to carbon emissions. The absence of causality running from energy supply to economic growth implies that in India, energy conservation and energy efficiency measures can be implemented to minimize the wastage of energy across value chain. Such measures would narrow energy demand-supply gap. Absence of long-run causality between carbon emissions and economic growth implies that in the long-run, focus should be given on harnessing energy from clean sources to curb carbon emissions, which would not affect the country's economic growth.

  13. Growth, employment patterns and inequality in Asia a case study of India

    OpenAIRE

    Chandrasekhar, C. P; Ghosh, Jayati

    2014-01-01

    This paper argues that economic inequalities in India have been driven by employment patterns and changes in labour markets, which in turn have been affected by macroeconomic policies and processes as well as forms of social discrimination and exclusion. While many Asian economies have shown indications of rising inequality in recent decades, the Indian experience is particularly remarkable in the way inequalities have intertwined with the economic growth process. Structural change (or the re...

  14. Energy, economic growth, and human welfare

    International Nuclear Information System (INIS)

    Schurr, S.H.

    1984-01-01

    The subject is covered in sections, entitled: economic growth and human welfare; world-wide economic growth; economic growth and energy consumption; assessing the future; caution advised; energy supply and economic growth; supply as constraint; sound policies needed. (U.K.)

  15. FDI- Economic Growth Nexus

    DEFF Research Database (Denmark)

    Bujac, Andreea Ioana; Corado Cretu, Emanuel

    2017-01-01

    Conducting a systematic literature review on the topic of FDI and Economic Growth and investigating this relationship, along with the determinants of an economy that attract FDI and the externalities resulting from Foreign activities, it is found that FDI does have a positive effect on a host...... country’s economic growth but only with the preexistence of certain determinants which facilitate the absorption capacity of the host country on reaping the spillover effects (externalities) of FDI. Lastly, a framework was built to illustrate the interaction between FDI, Determinants and condition...... of the host economy, barriers to growth, economic growth and externalities....

  16. The Effect of Foreign Aid on Economic Growth in Ghana | Appiah ...

    African Journals Online (AJOL)

    This paper uses time series data from 1972 to 2012 on Ghana to test the hypothesis that foreign aid can promote growth in developing countries. The ARDL approach to cointegration (bounds test) was employed to examine both the long run and short run relationships between aid and economic growth. The results of the ...

  17. Empirical Study towards the Drivers of Sustainable Economic Growth in EU-28 Countries

    Directory of Open Access Journals (Sweden)

    Daniel Ştefan Armeanu

    2017-12-01

    Full Text Available This study aims at empirically investigating the drivers of sustainable economic growth in EU-28 countries. By means of panel data regression models, in the form of fixed and random effects models, alongside system generalized method of moments, we examine several drivers of real gross domestic product (GDP growth rate, as follows: higher education, business environment, infrastructure, technology, communications, and media, population lifestyle, and demographic changes. As regards higher education, the empirical results show that expenditure per student in higher education and traditional 18–22 year-old students are positively linked with sustainable economic growth, whereas science and technology graduates negatively influence real GDP growth. In terms of business environment, total expenditure on research and development and employment rates of recent graduates contributes to sustainable development, but corruption perceptions index revealed a negative association with economic growth. As well, the results provide support for a negative influence of infrastructure abreast technological measures on economic growth. Besides, we found a negative connection between old-age dependency ratio and sustainable economic growth.

  18. Economic Benefits of Self-Employment for Canadian Immigrants.

    Science.gov (United States)

    Nakhaie, Reza

    2015-11-01

    This paper evaluates the economic benefits of self-employment in Canada for 12 groups of ethno-racial immigrants. It tests whether or not their self-employment earnings are higher or lower than similar groups in wage and salary employment, whether ethnic minorities earn more or less from self-employment compared to White immigrants, and whether self-employment earnings of immigrant groups vary by their industrial sectors of employment. Using the Canadian Census 2006, I show that self-employed ethno-racial immigrants earn less than White immigrants. I also show that the economic benefits of self-employment depend on the ethno-racial groups and the industrial mix of their self-employment. © 2015 Canadian Sociological Association/La Société canadienne de sociologie.

  19. The renewable energy and economic growth nexus in Black Sea and Balkan countries

    International Nuclear Information System (INIS)

    Koçak, Emrah; Şarkgüneşi, Aykut

    2017-01-01

    The aim of this study is to explore the relationship between renewable energy consumption and economic growth within the framework of traditional production function for the period of 1990–2012 in 9 Black Sea and Balkan countries. For this purpose, we use panel cointegration, co-integration estimate methods and heterogeneous panel causality estimation techniques. The study has concluded that there is a long term balance relationship between renewable energy consumption and economic growth and renewable energy consumption has a positive impact on economic growth. Heterogeneous panel causality analysis results support growth hypothesis in Bulgaria, Greece, Macedonia, Russia and Ukraine; feedback hypothesis in Albania, Georgia and Romania; neutrality hypothesis in Turkey and according to the panel data set including all nine countries the results support feedback hypothesis. With the findings, it was concluded that there is a significant impact of renewable energy consumption on economic growth in Balkan and Black Sea Countries. - Highlights: • Explores the impact of renewable energy on economic growth in Black Sea and Balkan countries. • Employs panel cointegration and heterogeneous causality analyses. • Finds significant effect of renewable energy consumption on economic growth. • Finds bidirectional causality between renewable energy consumption and economic growth for the whole panel.

  20. The Contribution of SMEs to the Economic Growth (Case of Albania

    Directory of Open Access Journals (Sweden)

    Alba Kruja

    2013-02-01

    Full Text Available Small & Medium Sized Enterprises have an important place in the economical development of Albania. They already consist of the majority of private business and they are the main source of employment generation, innovation and productivity growth. In this context animportant determinant of the Albanian economy development lies in the development of small and medium enterprises, which is not based only on the number of start-ups but also on the positive change of business environment and entrepreneurial skills. The aim of the research is to examine the contribution of SMEs to the economic growth of the country through employment generation, building of added value, GDP, export activities etc., and the changes in entrepreneurial skills of Albanian SMEs to foresee the ways of improvement and enterprise development. The methods of research are: analysis and synthesis of the scientific literature discussing the problems SMEs are facing and the environmental changes; the systematic statistical data analysis of Albanian entrepreneurial skills of small and medium-sized enterprises. The analysis shows that from the weakest dimensions of SME sector in Albania are entrepreneurship education and training and the promotion of innovation and use of new technologies.Keywords: SMEs, economic growth, Albania

  1. Energy consumption and economic growth nexus in Tanzania: An ARDL bounds testing approach

    International Nuclear Information System (INIS)

    Odhiambo, Nicholas M.

    2009-01-01

    In this paper, we examine the intertemporal causal relationship between energy consumption and economic growth in Tanzania during the period of 1971-2006. Unlike the majority of the previous studies, we employ the newly developed autoregressive distributed lag (ARDL)-bounds testing approach by Pesaran et al. [2001. Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics 16, 289-326] to examine this linkage. We also use two proxies of energy consumption, namely total energy consumption per capita and electricity consumption per capita. The results of the bounds test show that there is a stable long-run relationship between each of the proxies of energy consumption and economic growth. The results of the causality test, on the other hand, show that there is a unidirectional causal flow from total energy consumption to economic growth and a prima-facie causal flow from electricity consumption to economic growth. Overall, the study finds that energy consumption spurs economic growth in Tanzania

  2. Energy consumption and economic growth nexus in Tanzania. An ARDL bounds testing approach

    Energy Technology Data Exchange (ETDEWEB)

    Odhiambo, Nicholas M. [Economics Department, University of South Africa (UNISA), P.O. Box 392, UNISA, 0003, Pretoria (South Africa)

    2009-02-15

    In this paper, we examine the intertemporal causal relationship between energy consumption and economic growth in Tanzania during the period of 1971-2006. Unlike the majority of the previous studies, we employ the newly developed autoregressive distributed lag (ARDL)-bounds testing approach by Pesaran et al. [2001. Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics 16, 289-326] to examine this linkage. We also use two proxies of energy consumption, namely total energy consumption per capita and electricity consumption per capita. The results of the bounds test show that there is a stable long-run relationship between each of the proxies of energy consumption and economic growth. The results of the causality test, on the other hand, show that there is a unidirectional causal flow from total energy consumption to economic growth and a prima-facie causal flow from electricity consumption to economic growth. Overall, the study finds that energy consumption spurs economic growth in Tanzania. (author)

  3. Energy consumption and economic growth nexus in Tanzania: An ARDL bounds testing approach

    Energy Technology Data Exchange (ETDEWEB)

    Odhiambo, Nicholas M. [Economics Department, University of South Africa (UNISA), P.O. Box 392, UNISA, 0003, Pretoria (South Africa)], E-mail: nmbaya99@yahoo.com

    2009-02-15

    In this paper, we examine the intertemporal causal relationship between energy consumption and economic growth in Tanzania during the period of 1971-2006. Unlike the majority of the previous studies, we employ the newly developed autoregressive distributed lag (ARDL)-bounds testing approach by Pesaran et al. [2001. Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics 16, 289-326] to examine this linkage. We also use two proxies of energy consumption, namely total energy consumption per capita and electricity consumption per capita. The results of the bounds test show that there is a stable long-run relationship between each of the proxies of energy consumption and economic growth. The results of the causality test, on the other hand, show that there is a unidirectional causal flow from total energy consumption to economic growth and a prima-facie causal flow from electricity consumption to economic growth. Overall, the study finds that energy consumption spurs economic growth in Tanzania.

  4. ECONOMIC gROWTH, GLOBALIZATION AND TRADE

    OpenAIRE

    Nuno Carlos LEITÃO

    2012-01-01

    The purpose of this article is to investigate the relationship between economic growth, globalization and trade. The manuscript uses the assumptions of the economic growth exogenous and endogenous models. It introduces new proxies for explain the economic growth as in intra-industry trade, foreign direct investment and globalization index. The results indicate that economic growth is a dynamic process. The intra-industry has a positive impact on economic growth. This paper confirms relevan...

  5. Economic growth and business cycles

    NARCIS (Netherlands)

    Canton, E.J.F.

    1997-01-01

    This thesis contains five essays on economic growth and business cycles. The main focus is on the interaction between economic growth and the cycle: is cyclical variability good or bad for the long-run rate of economic growth? The introduction aims to provide some empirical evidence for an

  6. ECONOMIC GROWTH THEORIES, CONCEPTUAL ELEMENTS, CHARACTERISTICS

    Directory of Open Access Journals (Sweden)

    Florina, POPA

    2014-11-01

    Full Text Available The approach of economic growth involves understanding the concept and growth factors, respectively, analysing the growth theories, their trend in the context of the development of economic and social life. The economic growth signifies a process aimed at increasing activities in the national economy, expressed by macroeconomic indicators, respectively, the dynamics of the overall Gross Domestic Product or per inhabitant. It can appreciate that, in the short term, this process signifies phases of economic prosperity and on the long-term, expresses an upward trend, a consequence of the succession of increases and decreases. The study presents some elements which outlines the concept of economic growth, that is, definitions, meanings and the main characteristics of the theories of growth, as well as some of its determinant factors. Also, it gives a brief overview of the main theories of economic growth, as they have evolved over time, in line with the economic reality dynamics and the development of the instruments of economic analysis, starting from the classical theories to the new theories and models of economic growth of the modern age.

  7. Financial sector and economic growth in the Republic of Croatia 1995-2005

    Directory of Open Access Journals (Sweden)

    Novotny Damir

    2006-01-01

    Full Text Available Financial sector in the Republic of Croatia had a strong growth between 1995 2005.g. Liberalization of financial sector in 1999 led to an increase in bank foreign debt, which resulted in a strong increase in foreign currency reserves and appreciation of the national currency. The growth of the financial sector and credit expansion have been allocated in favour of private and public consumption, but not in industry investments. GDP growth didn't have the same momentum as financial aggregates. Economic growth, after a contraction in 1999 was within the average of global economic growth. Relying on neoclassical growth model, government and central bank didn't put in place the needed set of pro-active policies. Factor allocation was solely through private bank channels financing private consumption. If the sustainable economic growth and new employment are to be major macroeconomic goals, a new macroeconomic paradigm as combination of neclassical and neokeynesians approach will be needed.

  8. Employment changes in U.S. hardwood lumber consuming industries during economic expansions and contractions since 1991

    Science.gov (United States)

    William G. Luppold; Matt Bumgardner

    2016-01-01

    Understanding employment trends is important for discerning the economic vitality of U.S. hardwood lumber users. After a period of growth in the 1990s, employment in industries consuming hardwood lumber has declined in the 21st century. The wood household furniture industry has experienced the greatest decline, with North Carolina, Virginia, and California being the...

  9. One interpretation of the low economic growth in Mexico

    OpenAIRE

    Isaac, Sánchez Juárez

    2011-01-01

    Since 1982 the Mexican economy was characterized by the presence of low economic growth rates, this situation has caused a severe reduction in employment and thus the welfare of the Mexican population. Following a kaldorian’s framework of development we assume that the process of stagnation suffered by México, especially in recent years is explained by the lack of dynamism in the domestic manufacturing sector. The latter is attributed mainly to the current economic model, implemented in the l...

  10. Optimistic about sustainable growth and employment. An entrepreneurial vision on the opportunities for the Netherlands

    International Nuclear Information System (INIS)

    2010-04-01

    The Dutch economy can benefit from the significant perspectives that are offered by economic developments in Asia and South America by utilizing and expanding its current strengths. Sustainable growth and full employment are within reach. Cutbacks and reforms must not be 'depressing' but deliver additional growth and new opportunities. That is the core message of 'optimistic, the long-term vision of VNO-NCW (The Confederation of Netherlands Industry and Employers), MKB (Netherlands Federation of Small and Medium-sized Enterprises) and LTO Nederland (Dutch Federation of Agriculture and Horticulture). Their thoughts and plans with regard to strengthening the position of the Netherlands in the economic world top should play a role in the run-up to the elections and in forming the cabinet. [nl

  11. Exchange Rate Fluctuation and the Nigeria Economic Growth

    Directory of Open Access Journals (Sweden)

    Lawal Adedoyin Isola

    2016-11-01

    Full Text Available The aim of this study is to investigate the impact of exchange rate fluctuation on economic growth in Nigeria within the context of four profound theories: purchasing power parity; monetary model of exchange rates; the portfolio balance approach; and the optimal currency area theory. Data was collected from the CBN statistical bulletin in Nigeria from 2003– 2013and the Autoregressive Distributed Lag (ARDL model was employed to estimate the model. In the model, real GDP (RGDP was used as the proxy for economic growth while Inflation rate (IF, Exchange rate (EXC, Interest rate (INT and Money Supply(M2 as proxies for other macroeconomic variables. The empirical results show that exchange rate fluctuation has no effect on economic growth in the long run though a short run relationship exist between the two. Based on these findings, this paper recommends that the Central bank for policy purposes should ensure that stern foreign exchange control policies are put in place in order to help in appropriate determination of the value of the exchange rate. This will in the long run help to strengthen the value of the Naira.

  12. Internal and External Determinants of Economic Growth: A closer look at Pakistan’s Economy

    Directory of Open Access Journals (Sweden)

    Muhammad Jamil

    2013-09-01

    Full Text Available This study aims to investigate the impact of internal and external determinants of economic growth on the economic growth of Pakistan. Major internal determinants include stock of physical capital and developmental expenditures, while external determinants include trade openness and real effective exchange rate. In doing so, study utilizes the annual time series data from 1972 to 2011. Advanced Autoregressive Distributed Lag model (ARDL approach has been employed for co-integration and error correction model (ECM for short-run results. Empirical investigations indicate that developmental expenditures, physical capital and trade openness are positively correlated with economic growth in long run, while real effective exchange rate negatively and significantly affect economic growth in long run in case of Pakistan.

  13. Human Capital Variables and Economic Growth in Nigeria: An Interactive Effect

    Directory of Open Access Journals (Sweden)

    Adenike Mosunmola Osoba

    2017-05-01

    Full Text Available Various studies have focused on the relationship between human capital and economic growth all over the world. However, there is still a missing gap on the joint influence of human capital investment components on economic growth particularly in Nigeria. This study therefore examines the interactive effects of the relationship between human capital investment components and economic growth in Nigeria for the period of 1986 – 2014. The study employed secondary annual data on education expenditure, health expenditure, real gross domestic product and gross capital formation obtained from the Central Bank Statistical bulletin, 2014. The data were analyzed using Fully Modified Ordinary Least Squares (FMOLS technique. The results of the study showed that there was positive and significant relationship between the interactive effects of human capital components and growth in Nigeria. The study concluded that the interactive effect of the human capital variables was also in conformity with the theoretical proposition that increase in human capital will enhance growth as stipulated in the modified Solow growth model by Mankiw, Romer & Weil (1992.

  14. The Effect of Stock Market on Economic Growth In Nigeria | Sylvester ...

    African Journals Online (AJOL)

    Ordinary least squares regression (OLS) was employed using the data from 1989 to 2008. The results indicated that there is a positive relationship between economic growth and all the stock market development variables used. With 99 percent ...

  15. The Dynamic Effects of Entrepreneurship on Regional Economic Growth

    DEFF Research Database (Denmark)

    Matejovsky, Lukas; Mohapatra, Sandeep; Steiner, Bodo

    2014-01-01

    This study explores the temporal pattern of income disparity for Canadian provinces in two estimation steps. First, an econometric growth regression model is applied to identify the impact of entrepreneurship on regional economic growth. The estimation results suggest that entrepreneurship......, measured in terms of the selfemployment rate, plays a pivotal role in determining regional development in Canada. Second, a dynamic vector autoregression (VAR) model is employed to predict the long-run regional growth effects that result from policy shocks affecting entrepreneurship. Compared to other...... growth drivers, entrepreneurship is found to have more pronounced and long-term stimulative effects on regional development for the period of 1987 to 2007...

  16. SECTORAL SHARES AND ECONOMIC GROWTH

    DEFF Research Database (Denmark)

    Ahmad, Nisar; Naveed, Amjad; Naz, Amber

    2013-01-01

    believe that structural change is an unimportant side effect of the economic development. On the contrary, economists associated with the World Bank and some others posit that growth is brought about by the changes in sectoral composition. The objective of this study is to empirically test...... the relationship between sectoral shares and economic growth by using the panel data for 20 developed countries. The results of the granger causality suggest that both services and agriculture sectors do granger cause economic growth, whereas industrial sector does not granger cause growth. Reverse causality does...... not hold for any of the three sectors. The results of Barro and Non-Barro regressions along with the set of control variables have suggested that services sector is negatively affecting growth, whereas both industrial and agriculture shares are positively affect economic growth....

  17. Causality relationship between the price of oil and economic growth in Japan

    International Nuclear Information System (INIS)

    Hanabusa, Kunihiro

    2009-01-01

    This paper investigates the relationship between the price of oil and economic growth in Japan during the period from 2000 to 2008 using an exponential generalized autoregressive conditional heteroskedasticity (EGARCH) model. We employ a residual cross-correlation function (CCF) approach developed by [Cheung, Y.W., Ng, N.K., 1996. A causality-in-variance test and its application to financial market prices. Journal of Econometrics 72, 33-48]. The empirical results reveal that the economic growth rate Granger-causes the change of oil price in mean and variance and the change of oil price Granger-causes the economic growth rate in mean and variance. Previous studies have analyzed the response of economic activity to oil price shocks. However, we analyze the causality relations for both means and variances, and identify the direction of information flow and the timing of causation. (author)

  18. Natural resources endowment and economic growth: The West African Experience

    Directory of Open Access Journals (Sweden)

    Mohamed Jalloh

    2013-06-01

    Full Text Available This study aims at investigating the nexus between natural resource endowment and economic growth using a sample of West African countries. The study adopted a Barrow-type growth model to analyse the impact of natural resource wealth on economic growth. A dynamic panel estimation technique was employed using relevant data from West African Countries. The results from the panel regressions indicate that natural resource endowments have very minimal impact in terms of promoting economic growth in West Africa, more so in resource rich countries. In terms of relative effects, the results indicate that a 10% increase in natural resource export reduces growth in income per capita by approximately 0.4%. Part of the factors explaining this finding amongst others; include high corruption in the public sector as well as the frequency of civil conflicts in resource rich economies of West Africa. For the natural resources of the region to fully benefit its citizens, these countries require , urgently, to improve management of natural resource export revenues and to apply effective policy measures to eradicate/ mitigate incidences of rampant corruption in the public sector.

  19. Sociological explanations of economic growth.

    Science.gov (United States)

    Marsh, R M

    1988-01-01

    Even if questions of how resources are distributed within and between societies are the main concern, it is necessary to continue to grapple with the issue of the causes of economic growth since economic growth and level of development continue to be among the most important causes of inequality, poverty, unemployment, and the quality of life. This paper's dependent variable is the economic growth rate of 55 less developed countries (LDCs) over 2 time periods. 1970-78 and 1965-84. The causal model consists of control variables--level of development and domestic investment in 1965--and a variety of independent variables drawn from major sociological theories of economic growth published during the last 3 decades. Multiple regression analysis shows that, net of the effects of the 2 control variables, the variables which have the strongest effect on economic growth are: 1) direct foreign investment, which has a negative effect, 2) the proportion of the population in military service, and 3) the primary school enrollment ratio, both of which have positive effects on economic growth. On the other hand, variables drawn from some theories receive no empirical support. The mass media of communications, ethnolinguistic heterogeneity, democracy and human rights, income inequality, and state-centric theory's key variable, state strength, all fail to show any significant impact on economic growth rates when the control variables and the significant independent variables are held constant. The theoretical implications of these findings are discussed.

  20. Employment and Growth | Page 36 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    As an engine of economic growth, private enterprise plays an important role in combatting ... In helping developing countries pursue private sector development ... India's rapid economic growth has reduced extreme poverty in the country.

  1. THE IMPACT OF ECONOMIC INFRASTRUCTURE ON LONG TERM ECONOMIC GROWTH IN BOTSWANA

    Directory of Open Access Journals (Sweden)

    Strike Mbulawa

    2017-02-01

    Full Text Available The growth rate for the Botswana economy has slowed down in recent years. This has been explained by weak global demand in minerals, subdued commodity prices and persistent electricity supply problems. The government is making efforts to diversify the economy to tap from other sources of growth. The government has come with two initiatives to boast growth: increasing expenditure on roads and improved generation of electricity. Literature has failed to agree on the causal linkage between growth and infrastructure development.  Previous studies employed different measures of infrastructure development and models resulting in conflicting findings. As a point of departure this study uses a log linear model and different measures of growth and infrastructure to examine the link between the two variables in the context of Botswana. Using vector error correction model and Ordinary Least Squares the study finds that long term economic growth is explained by both measures of infrastructure (electricity distribution and maintenance of roads. The impact of the former was more pronounced than the impact of the later. Evidence supports the infrastructure led growth hypothesis.

  2. Employment and employment conditions in the current economic crisis in Croatia

    Directory of Open Access Journals (Sweden)

    Goran Vukšić

    2014-06-01

    Full Text Available The goal of this research is to analyze developments in employment and employment characteristics during the current crisis in Croatia. The main findings can be summarized as follows: (1 The primary (aggregate mode of adjustment to the crisis was a decline in employment. There are, however, considerable differences in adjustment patterns across economic activities. (2 During the crisis, jobs were lost in the, more dynamic, private sector, while the number of jobs in the public sector (entities in state ownership slightly increased. (3 Economic activities with comparatively larger shares of women in employment have experienced fewer employment cuts and the aggregate employment share of women rose during the crisis, especially in activities with a larger share of public sector workers.(4 There has been a declining share of younger workers during the crisis, justifying policy actions to facilitate their employment. (5 Employees with comparatively lower educational attainment face severe challenges in the labor market, which is a longer term trend, not specific to the crisis period. There are indications that this group of employees enjoys a higher level of protection in the public sector. (6 Analysis also shows a rising significance of more flexible forms of employment: increasing shares of fixed term employees (during the last two observed years, and of part time workers. (7 Working hours do not exhibit any strong trends specific to the crisis, except for the diminishing number of overtime hours per worker.

  3. Quality, Export and Economic Growth

    DEFF Research Database (Denmark)

    Madsen, Erik Strøjer; Pedersen, Kurt

    1998-01-01

    in an international context. The paper, therefore, addresses the complicated interactions between economic growth, export performance and quality. The contribution of the paper, compared to other growth accounting research, is the inclusion of quality data, quality being a significant mirror of technological...... development. The countries covered by the research represent a wide variation in terms of economic development, from poor LDC's to the most developed industrial nations. The empirical results reveal a probable strong relationship between quality/price and export growth as well as economic growth. This new...

  4. An analysis of tourism contribution to economic growth in SADC ...

    African Journals Online (AJOL)

    The study how the tourism sector can be an engine of economic growth in SADC member countries. The paper found the contribution of tourism to GDP, employment, export receipts and investment is significant. Although this sector's contribution to the economy varies among SADC countries, the the study found that ...

  5. Electricity regulation and economic growth

    OpenAIRE

    Costa, M. Teresa (Maria Teresa), 1951-; Garcia-Quevedo, Jose; Trujillo-Baute, Elisa

    2018-01-01

    The main objective of this paper is to analyse the effect of electricity regulation on economic growth. Although the relationship between electricity consumption and economic growth has been extensively analysed in the empirical literature, this framework has not been used to estimate the effect of electricity regulation on economic growth. Understanding this effect is essential for the assessment of regulatory policy. Specifically, we assess the effects of two major areas of regulation, rene...

  6. The relationship between foreign direct investment and economic growth in South Africa: Vector error correction analysis

    Directory of Open Access Journals (Sweden)

    Tshepo S. Masipa

    2018-05-01

    Full Text Available Orientation: From the Growth, Employment and Redistribution (GEAR strategy of 1996 to the currently implemented National Development Plan (NDP, the need to attract more foreign investors and promote exports in pursuit of economic growth and job creation has been emphasised. Research purpose: It is within this context that the purpose of this article was to determine the nexus between foreign direct investment (FDI inflows and economic growth from 1980 to 2014. Research design, approach and method: The vector error correction model is employed to determine and estimate the long-run relationship between the variables in the model. Main findings: From the findings, it was found that economic growth shares a positive relationship with both FDIs and the real effective exchange rate, while sharing a negative long-run relationship with government expenditure. Practical and managerial implications: The article contributes towards the on going debates on the impact of FDIs on economic growth and job creation in the recipient countries. Accordingly, its findings reinforce the importance of attracting FDIs in South Africa and to what extent they affect economic growth and employment. Contribution or value-add: From a policy perspective, the attraction of foreign investors must target sources that can create jobs and boost the South African economy. It is vital for the government to strengthen its machinery to fight corruption to create an environment conducive for foreign investors. Hence, this article suggests that South Africa’s capacity to grow and create jobs also depends on the country’s performance to enhance gross domestic product growth and attract more FDIs. The attraction of FDIs should, however, not be seen as an end in itself but also as a means of supporting other initiatives such as eradicating poverty and inequalities in South Africa.

  7. The Effect of External Debt on Economic Growth in Sub-Saharan Africa

    Directory of Open Access Journals (Sweden)

    Bernardin Senadza

    2018-01-01

    Full Text Available Purpose: This paper examines the effect of external debt on economic growth in Sub-Saharan Africa (SSA in view of an upsurge in the level of external debt in many countries on the continent. Design/methodology/approach: The paper uses annual data for 39 SSA countries from 1990 to 2013 and employs the System Generalised Methods of Moments (GMM estimation technique. Findings: The paper finds that external debt negatively affects economic growth in SSA. Categorization of countries based on per capita income however does not affect the external debt-growth nexus, neither does there exist a non-linear relationship between external debt and economic growth. Research limitations/implications: The finding of a negative relationship between external debt and growth does not necessarily imply that SSA countries should cut back on foreign borrowing in other to boost growth. Rather, given the huge savings gaps in some of the countries, what governments in SSA must do is to ensure that the foreign loans are invested in projects that would eventually generate enough returns to amortize the debt. Originality/value: Not only does the present paper extend to more recent data but we also apply one of the frontier econometric techniques - the system GMM approach - to unravel the external debt-economic growth dynamics in SSA.

  8. Educational Expansion, Economic Growth and Antisocial Behaviour: Evidence from England

    Science.gov (United States)

    Sabates, Ricardo

    2010-01-01

    This paper investigates the impact of the increase in post-compulsory schooling and economic growth on conviction rates for antisocial behaviour in England. I hypothesise that both educational and employment opportunities should lead to greater reductions in antisocial behaviour when they are combined than when they exist in isolation. I test this…

  9. Energy use, emissions, economic growth and trade: A Granger non-causality evidence for Malaysia

    OpenAIRE

    Ismail, Mohd Adib; Mawar, Murni Yunus

    2012-01-01

    This paper investigates the relationship among energy, emissions and economic growth in Malaysia with the presence of trade activities. We employ Johansen’s (1995) approach to investigate the relationship. Using annual data from 1971 to 2007, the empirical results shows that there are long-run causalities among energy, emission and economic growth, and among energy, emissions, export and capital, while the short-run Granger non-causality test shows that there are unidirectional causalities ru...

  10. Health care prices, the federal budget, and economic growth.

    Science.gov (United States)

    Monaco, R M; Phelps, J H

    1995-01-01

    Rising health care spending, led by rising prices, has had an enormous impact on the economy, especially on the federal budget. Our work shows that if rapid growth in health care prices continues, under current institutional arrangements, real economic growth and employment will be lower during the next two decades than if health price inflation were somehow reduced. How big the losses are and which sectors bear the brunt of the costs vary depending on how society chooses to fund the federal budget deficit that stems from the rising cost of federal health care programs.

  11. Impact of insurance sector activity on economic growth – A meta-analysis

    Directory of Open Access Journals (Sweden)

    Zuzana Richterková

    2013-01-01

    Full Text Available The aim of this study is to compute the overall effect size concerning the impact of insurance sector activity on economic growth. The connection of insurance activity and economic growth has been a widely investigated topic due to numerous papers and research attempts performed so far. The results, however, often differ among individual studies. Therefore a comprehensive analysis of the significance of causality from insurance activity, measured by insurance premium, to business cycle fluctuation, is well-required. Using 10 published and unpublished studies, we conduct a meta-analysis of the literature on the impact of insurance activity on economic growth. Insurance premium is taken as the measure of insurance activity. The combined significance test of individual t-statistics is employed. The calculation of the effect size allows understand the true effect relying on synthesis of so far published research with significantly higher amount of observations and better precision. Our results confirm positive effect of insurance activity on economic growth and are particularly important for policy makers who set the policy towards subjects in the insurance market.

  12. ECONOMIC GROWTH AND EQUALITY IN REDUCING POVERTY

    Directory of Open Access Journals (Sweden)

    Zaenal Muttaqin

    2016-02-01

    Full Text Available In some developing countries, the instrument to alleviate the poverty is by using the economic growth. So, the increasing in investment, infrastructure development, and macroeconomics stability always be priority from developing countries. In this article explain that economic growth is not the important factor to alleviate the poverty, because equality sometimes is more important rather than the economic growth. In this context, its measure by inequality growth trade off index (IGTI. This method is to measure the influence of economic growth to reducing the inequality, with this method every country can measure which one is better to reducing the poverty whether the economic growth or equality. With this method, Laos in 2000 show that economic growth is more important than equality, but in the same year in Thailand show that equality is more important than economic growth.DOI: 10.15408/sjie.v1i1.2592

  13. Impact of employment instability on socio-economic position of employees

    Directory of Open Access Journals (Sweden)

    Vyacheslav Nikolaevich Bobkov

    2013-12-01

    Full Text Available The subject of the article is the relationships in labor utilization. The article analyzes the impact of employment instability on the socio-economic situation of employees in Russia. Questions revealing the concept content of employment instability, its real forms and socio-economic consequences for employees are considered. Methods of statistical and sociological data analysis are applied. Indicators to measure the scope and level of employment instability of employees are calculated. The dynamics in the time of the size of employment instability in Russia are analyzed. The obtained results can be applied within national economic and social policy. The findings indicate that employment instability is high, and it threatens socio-economic position of the great number of employees in Russia. It is argued that, in these conditions, the most appropriate in the fight against the spread of employment instability are the set of government initiatives, proactive position of the Russian society and the expansion of societal forms of control over the government.

  14. City Population Growth and Economic Growth

    DEFF Research Database (Denmark)

    Freire-Gibb, L. Carlos

    2008-01-01

    This article looks at the relationship between city population growth (intimately related to population proximity), and economic development. The hypothesis is that wherever dynamic and inclusive networks exist, there are more opportunities for economic development in this place. When these types...... of networks choose a tool (project, policy) to implement in the city, success will be more likely. Furthermore, virtuous circles will arise. The author gives an overview of two historical cases in urban growth, in Europe (1200-1800) and the U.S.A. (1800 to today)....

  15. Financial Development, Environmental Quality and Economic Growth

    Directory of Open Access Journals (Sweden)

    Shushu Li

    2015-07-01

    Full Text Available In this study, the relationships between financial development, environmental quality and economic growth are studied based on data from 102 countries over the period 1980–2010 using the generalized method of moments (GMM estimation. The econometric results show the following three basic conclusions: First, both financial development and environmental quality have a significant impact on economic growth and should be included in the production function of the economic growth model as important variables. Second, there is a significant and robust “inverted U-shaped” relationship between financial development and economic growth; with the improvement of the level of financial development, economic growth would first increase and then decrease, which is consistent with the results of previous studies. Third, there is also a significant and robust “inverted U-shaped” relationship between economic growth and carbon emissions, indicating that there exists a “critical point” at which achieving economic growth comes at the expense of environmental quality, and after passing the critical point, the deterioration of environmental quality will lead to a significant slowdown in economic growth. In addition, the econometric analysis in this paper also shows that there was a mutually promoting and strengthening relationship between financial development and environmental quality. Specifically, the degree of financial development can further strengthen the promoting effect of environmental quality on economic growth; meanwhile, an improvement in environmental quality can also strengthen the promoting effect of financial development on economic growth. Financial development and environmental quality could influence economic growth through strengthening the marginal product effects of capital and labor, which further indicates the that both financial and environmental factors play an important role in modern economic development.

  16. Natural gas consumption and economic growth: Are we ready to natural gas price liberalization in Iran?

    International Nuclear Information System (INIS)

    Heidari, Hassan; Katircioglu, Salih Turan; Saeidpour, Lesyan

    2013-01-01

    This paper examines the relationship between natural gas consumption and economic growth in Iran within a multivariate production model. We also investigate the effects of natural gas price on its consumption and economic growth using a demand side model. The paper employs bounds test approach to level relationship over the period of 1972–007. We find evidence of bidirectional positive relationship between natural gas consumption and economic growth in short-run and long-run, based on the production model. The findings also suggest that real GDP growth and natural gas have positive and negative impacts on gross fixed capital formation, respectively. Employment, however, was found to have negative but insignificant impact on gross fixed capital formation. Moreover, the estimation results of demand side model suggest that natural gas price has negative and significant impact on natural gas consumption only in the long-run, though there is insignificant impact on economic growth. These results imply that the Iranian government's decision for natural gas price liberalization has the adverse effects on economic growth and policy makers should be cautious in doing this policy. - Highlights: • Iran has been considered as a major natural gas producer in the world. • This paper examines the relationship between gas consumption and growth in Iran. • Positive impact of gas consumption on growth has been obtained. • The paper finds that gas consumption and income reinforce each other in Iran. • Natural gas price has also negative and significant impact on natural gas consumption in Iran

  17. Entrepreneurial Diversity and Economic Growth

    NARCIS (Netherlands)

    I. Verheul (Ingrid); A.J. van Stel (André)

    2007-01-01

    textabstractMost studies investigating the relationship between entrepreneurship and economic growth treat entrepreneurs as a homogeneous group. This study investigates the impact of entrepreneurial diversity on national economic growth. Using data for 36 countries participating in the Global

  18. Dynamic inter-relationship between trade, economic growth and tourism in Malaysia

    OpenAIRE

    Sarmidi, Tamat; Salleh, Norlida H

    2010-01-01

    This study aims to test a hypothesis that postulate a positive inter-relationship between international flows of tourist, trade and economic growth. Although tourism is one of the major components in the trade of services, and it has been certified by large number of literatures on the strong correlation between tourism industry and economic development, yet not much is known on the dynamic inter-relationship between these three variables. Closing-up this gaping hole, this study employs the c...

  19. Employment and the Reduction of the Work Week: A Comparison of Seven European Macro-economic Models.

    Science.gov (United States)

    van Ginneken, Wouter

    1984-01-01

    Analyzes the impact of a reduced work week on employment, productivity, wages, investment, economic growth, inflation, and government deficits. Concludes that reducing working hours would have greater effect if accompanied by wage reductions and limitation of overtime, but would not affect underlying causes of unemployment. (SK)

  20. Economic growth, energy consumption and CO2 emissions in OECD (Organization for Economic Co-operation and Development)'s transport sector: A fully modified bi-directional relationship approach

    International Nuclear Information System (INIS)

    Saboori, Behnaz; Sapri, Maimunah; Baba, Maizan bin

    2014-01-01

    This paper explores the bi-directional long-run relationship between energy consumption in the road transport sector with CO 2 emissions and economic growth in OECD countries. Using time series data from 1960 to 2008 and employing the Fully Modified Ordinary Least Squares cointegration approach, the paper shows positive significant long-run bi-directional relationship between CO 2 emissions and economic growth, road sector energy consumption and economic growth and CO 2 emissions and road sector energy consumption in all the OECD countries. To examine the response of each of the variables to shocks in the value of other variables, the generalized impulse response approach is employed. The response of CO 2 emissions to economic growth is initially positive in most cases but it is relatively shorter when compared to its initial response to the road transport sector energy consumption. Moreover, in most cases, the response of carbon emissions to the road transport sector energy consumption lasts longer than its response to economic growth. This implies that most of the CO 2 emissions from transport come from energy consumption, thus long-run policies related to the efficient use of energy and shifting to biofuel, renewable and nuclear energy can bring major benefits in mitigating GHG (Greenhouse Gas) emissions. - Highlights: • The relationship between GDP, energy and CO 2 in OECD's transport is investigated. • The Fully Modified Ordinary Least Squares cointegration approach was employed. • There is positive long-run bi-directional relationship between the variables. • The response of CO 2 to GDP is shorter than its response to the energy consumption

  1. The relationship between CO2 emission, energy consumption and economic growth in Malaysia: a three-way linkage approach.

    Science.gov (United States)

    Sulaiman, Chindo; Abdul-Rahim, A S

    2017-11-01

    This study examines the three-way linkage relationships between CO 2 emission, energy consumption and economic growth in Malaysia, covering the 1975-2015 period. An autoregressive distributed lag approach was employed to achieve the objective of the study and gauged by dynamic ordinary least squares. Additionally, vector error correction model, variance decompositions and impulse response functions were employed to further examine the relationship between the interest variables. The findings show that economic growth is neither influenced by energy consumption nor by CO 2 emission. Energy consumption is revealed to be an increasing function of CO 2 emission. Whereas, CO 2 emission positively and significantly depends on energy consumption and economic growth. This implies that CO 2 emission increases with an increase in both energy consumption and economic growth. Conclusively, the main drivers of CO 2 emission in Malaysia are proven to be energy consumption and economic growth. Therefore, renewable energy sources ought to be considered by policy makers to curb emission from the current non-renewable sources. Wind and biomass can be explored as they are viable sources. Energy efficiency and savings should equally be emphasised and encouraged by policy makers. Lastly, growth-related policies that target emission reduction are also recommended.

  2. Corporate Stability and Economic Growth

    OpenAIRE

    He, Kathy S.; Morck, Randall; Yeung, Bernard

    2003-01-01

    Greater instability in a country's list of top corporations is associated with faster economic growth. This faster growth is primarily due to faster growth in total factor productivity in industrialized countries, and faster capital accumulation in developing countries. These findings are consistent with the view that economic growth is more closely tied to the rise of new large firms than to the prosperity of established large firms. Although a stable list of leading corporations is highly c...

  3. [Doctoral thesis: Demographic growth and economic and social development in Mali].

    Science.gov (United States)

    Dabo, K

    1999-12-01

    A doctoral thesis is described analyzing the relationships between demographic growth and economic and social development in Mali. The hypothesis is stated that demographic growth impedes economic development and any improvement in populations¿ standards of living. The hypothesis was verified using data for the period from 1960 to the present. Over that period, Mali conducted two general population censuses in 1976 and 1987, as well as several demographic research studies. The thesis is comprised of 4 parts, of which the first generally describes Mali. The second part analyzes the relationship between population growth and economic and social development in Mali. Study results are presented, followed by an analysis of the effects of economic and social development upon population growth in Mali through factors such as urbanization, education level, literacy, income, employment, occupation, gross domestic or gross national product by inhabitant, infant mortality rate, life expectancy at birth, contraceptive practice, fertility opinions and desires, women¿s status, and migration in Mali. Analysis indicates that Mali has not completely begun its demographic transition, but that traditional pronatalist behaviors are changing. Population policies and programs are explored in the third part of the thesis, followed by the fourth part which focuses upon methodological questions.

  4. The impact of Monetary Policy on the economic growth of Nigeria ...

    African Journals Online (AJOL)

    Studies show that CBN Monetary Policy measures are effective in regulating both the monetary and real sector aggregates such as employment, prices, level of output and the rate of economic growth. Empirical findings from this study indicate that average price and labour force have significant influence on Gross Domestic ...

  5. How robust is the relationship between economic freedom and economic growth?

    NARCIS (Netherlands)

    Sturm, JE; De Haan, J

    Using various indicators for economic freedom, it is shown that increases in economic freedom are robustly related to economic growth. This conclusion holds even if the impact of outlying observations is taken into account. The level of economic freedom is not related to growth.

  6. Financial Development, Economic Growth and Energy Consumption Nexus in Cote d’Ivoire

    Directory of Open Access Journals (Sweden)

    Diby Kassi

    2017-10-01

    Full Text Available This paper examines the relationship between financial development, economic growth and energy consumption in Cote d’Ivoire over the period 1971-2011. To do so, the study first built a synthetic indicator of financial development through the principal component analysis technique (PCA and used four energy sources such as electric power consumption, electricity production from renewable sources, electricity production from oil sources and electricity production from hydroelectric sources. Then, employing the autoregressive distributed lag (ARDL bounds testing approach to cointegration, we find that there is a long run relationship between financial development, economic growth and energy consumption sources. Furthermore, the results of the vector error correction models (VECM reveal unidirectional causality running from financial development to energy consumption sources, bidirectional causality between economic growth and energy consumption and unidirectional causality from financial development to economic growth in the long run. The mixed results are due to the use of different proxies for energy consumption. Accordingly, this paper recommends that policy makers should solicit the support of financial sector in order to solve energy problems and further the diversification of the energy consumption sources since financial development has a positive effect on energy consumption in long run. Moreover, government should develop public-private partnership (PPP to stimulate economic growth, improve the access to energy and maintain a sustainable development in Cote d’Ivoire.

  7. Trivariate causality between economic growth, urbanisation and electricity consumption in Angola: Cointegration and causality analysis

    International Nuclear Information System (INIS)

    Solarin, Sakiru Adebola; Shahbaz, Muhammad

    2013-01-01

    This paper investigates the causal relationship between economic growth, urbanisation and electricity consumption in the case of Angola, while utilizing the data over the period of 1971–2009. We have applied Lee and Strazicich (2003. The Review of Economics and Statistics 63, 1082–1089; 2004. Working Paper. Department of Economics, Appalachian State University) unit root tests to examine the stationarity properties of the series. Using the Gregory–Hansen structural break cointegration procedure as a complement, we employ the ARDL bounds test to investigate long run relationships. The VECM Granger causality test is subsequently used to examine the direction of causality between economic growth, urbanisation, and electricity consumption. Our results indicate the existence of long run relationships. We further observe evidence in favour of bidirectional causality between electricity consumption and economic growth. The feedback hypothesis is also found between urbanisation and economic growth. Urbanisation and electricity consumption Granger cause each other. We conclude that Angola is energy-dependent country. Consequently, the relevant authorities should boost electricity production as one of the means of achieving sustainable economic development in the long run. - Highlights: • We consider the link between electricity consumption and economic growth in Angola. • Urbanisation is added to turn the research into a trivariate investigation. • Various time series procedures are used. • Results show that increasing electricity will improve economic growth in Angola. • Results show urbanisations reduced economic growth during civil war

  8. [Economic growth with zero population growth and with declining population].

    Science.gov (United States)

    Kurz, R

    1982-05-01

    The effects of both zero population growth and a declining population on economic growth are considered. Although the neoclassical theory of economic growth leads to optimistic results in such cases, the author suggests that this theory cannot be used as a basis for political action. The need for further research into the economic effects of a stationary or declining population is stressed. (summary in ENG)

  9. Technical Education and Economic Growth

    Indian Academy of Sciences (India)

    First page Back Continue Last page Graphics. Technical Education and Economic Growth. Technical Education and Economic Growth. Review of the Present Status. Expanding no.s and impairment of quality; Faculty shortage; Grim situation at Masters and PhD levels; Regional imbalance; Absence of International flavour ...

  10. Employment and Economic Insecurity: A Commonsian Perspective

    Directory of Open Access Journals (Sweden)

    Sylvie Morel

    2010-01-01

    Full Text Available The principal concern of this paper is with the need of a theoretical shift in economics for analyzing and devising efficient and innovative policy reforms to combat employment insecurity. Mainstream economics is unable to provide appropriate theorizing about economic phenomena, including economic insecurity. Thus, we must turn to economic theories which radically question the dominant paradigm in economics. John Rogers Commons's institutionalist theory accomplishes that. First, the author of this paper outlines the distinctive character of this theory by presenting some of its crucial methodological differences with neoclassical economics. Second, she explains how economic insecurity is conceptualized as an "instituted" process with this theory of institution. A better mastery of this specific school of thought in economics appears to escape the problems met by mainstream economics by proposing a real theoretical alternative for the development of a truly evolutionary, trans-disciplinary and ethical economic theory.

  11. Employment and Economic Insecurity: A Commonsian Perspective

    Directory of Open Access Journals (Sweden)

    Sylvie Morel

    2009-12-01

    Full Text Available The principal concern of this paper is with the need of a theoretical shift in economics for analyzing and devising efficient and innovative policy reforms to combat employment insecurity. Mainstream economics is unable to provide appropriate theorizing about economic phenomena, including economic insecurity. Thus, we must turn to economic theories which radically question the dominant paradigm in economics. John Rogers Commons's institutionalist theory accomplishes that. First, the author of this paper outlines the distinctive character of this theory by presenting some of its crucial methodological differences with neoclassical economics. Second, she explains how economic insecurity is conceptualized as an "instituted" process with this theory of institution. A better mastery of this specific school of thought in economics appears to escape the problems met by mainstream economics by proposing a real theoretical alternative for the development of a truly evolutionary, trans-disciplinary and ethical economic theory.

  12. Armenia's Economic Growth Sustainability

    OpenAIRE

    Hayakawa, Tatsuji

    2015-01-01

    Armenia enjoyed 15 years of uninterrupted high economic growth prior to the global financial crisis in 2009. Investment, particularly in the mining and metallurgy sectors, played a key role as a driver of economic growth. Remittances,mostly from Russia, had an effect in sustaining consumption and boosting construction. Armenia has shown some weaknesses in the external sector, due to demands for natural gas, mineral products, machinery, and equipment. Armenia's exports and FDI suffer from the ...

  13. Innovation, resources and economic growth

    International Nuclear Information System (INIS)

    Curzio, A.Q.; Fortis, M.; Zoboli, R.

    1994-01-01

    The book is concerned with the following items: 1. Technological Creativity and Institutions, 2. Innovation at Work in an Historical-Economic Perspective: Energy and Industrial Materials, 3. Scientific Revolutions and Strategies of Economic Supremacy: Advanced Materials and Biotechnologies, 4. Economic Growth and Agro-Food Policies in Key Problem Regions: Former USSR and LDCs, 5. Economic Growth and Natural Resources at Risk: Climate Change, Forests and Water and in Conclusion: Innovation and Resources in a Global Policy Perspective. Only one chapter have regard to energy problems: Energie efficient technologies: past and future perspectives. (UA)

  14. ECONOMIC GROWTH – COSTS AND DEVELOPMENT DISCREPANCES

    OpenAIRE

    Ion Bucur

    2007-01-01

    The economic growth shows an ascending tendency of the economic evolution over a long period of time, having favorable social and economic effects. Each economic growth factor acts simultaneous trough three dimensions.

  15. The foreign capital flows and economic growth in Sub-Saharan Africa : the role of financial markets and institutional quality

    OpenAIRE

    Ifo, Duba Jarso

    2017-01-01

    There are competing theories when comes to the effect of foreign capital inflows on the recipient country’s economic growth. The foreign capital inflows to the sub-saharan region has shown significant growth over last two decades which coincided with the relative economic progress in the region. This study investigated the impact of foreign capital flows on Economic growth of Sub- Saharan African countries. System Generalized Methodwas employed on 33 cross country panel in the period 19...

  16. Human Development and Economic Growth

    OpenAIRE

    Ranis, Gustav

    2004-01-01

    Recent literature has contrasted Human Development, described as the ultimate goal of the development process, with economic growth, described as an imperfect proxy for more general welfare, or as a means toward enhanced human development. This debate has broadened the definitions and goals of development but still needs to define the important interrelations between human development (HD) and economic growth (EG). To the extent that greater freedom and capabilities improve economic performan...

  17. Environmental Disaster and Economic Change: Do tropical cyclones have permanent effects on economic growth and structure?

    Science.gov (United States)

    Jina, A.; von der Goltz, J.; Hsiang, S. M.

    2011-12-01

    Natural disasters have important, often devastating, effects upon economic growth and well-being. Due to this, disasters have become an active area of recent research and policy attention. However, much of this research has been narrowly focused, relying on anecdotal evidence and aggregated data to support conclusions about disaster impacts in the short-term. Employing a new global data set of tropical cyclone exposure from 1960 to 2008, we investigate in greater detail whether permanent changes in economic performance and structure can result from these extreme events in some cases. Our macro-economic analyses use the World Development Indicator dataset and have shown promising results: there are dramatic long-term economic transformations associated with tropical cyclones across a number of countries and industries. This effect is most clearly seen in Small Island Developing States (SIDS) and some countries in Latin America, where negative changes in long-term growth trends are observed in the years following a large tropical cyclone. In many economies with a high exposure to tropical cyclone damage, there are noticeable structural changes within the economy. The impacts of disasters might be expressed through various economic and social channels, through direct loss of lives and infrastructure damage; for instance, the destruction of infrastructure such as ports may damage export opportunities where replacement capital is not readily available. These structural changes may have far-reaching implications for economic growth and welfare. Larger nations subjected to the impacts of tropical cyclones are thought to be able to relocate economically important activities that are damaged by cyclones, and so long-term trend changes are not observed, even for events that cause a large immediate decrease in national productivity. By investigating in a more rigorous fashion the hypothesis that the environment triggers these permanent economic changes, our work has

  18. Reconciling Post-Recession Strategies for Economic Growth with Higher Education's Current Fiscal Challenges: Part 1, New Realities

    Science.gov (United States)

    Observatory on Borderless Higher Education, 2010

    2010-01-01

    This week, the Organisation for Economic Cooperation and Development (OECD) is publishing the findings of new research undertaken to explore the relationship between educational spending and economic growth. The report, "The High Cost of Low Educational Performance--The Long-Run Economic Impact of Improving PISA Outcomes", employs recent…

  19. Predicting economic growth with stock networks

    Science.gov (United States)

    Heiberger, Raphael H.

    2018-01-01

    Networks derived from stock prices are often used to model developments on financial markets and are tightly intertwined with crises. Yet, the influence of changing market topologies on the broader economy (i.e. GDP) is unclear. In this paper, we propose a Bayesian approach that utilizes individual-level network measures of companies as lagged probabilistic features to predict national economic growth. We use a comprehensive data set consisting of Standard and Poor's 500 corporations from January 1988 until October 2016. The final model forecasts correctly all major recession and prosperity phases of the U.S. economy up to one year ahead. By employing different network measures on the level of corporations, we can also identify which companies' stocks possess a key role in a changing economic environment and may be used as indication of critical (and prosperous) developments. More generally, the proposed approach allows to predict probabilities for different overall states of social entities by using local network positions and could be applied on various phenomena.

  20. Linear and Nonlinear Causality between Energy Consumption and Economic Growth: The Case of Mexico 1965–2014

    Directory of Open Access Journals (Sweden)

    Mario Gómez

    2018-03-01

    Full Text Available This paper analyzes the causal link between aggregated and disaggregated levels of energy consumption and economic growth in Mexico between 1965 and 2014, with the presence of structural breaks stemming from the series. To that end, unit root with structural breaks, cointegration, and linear and nonlinear causality tests are employed. The results show that there is a long-run relationship between production, capital, labor, and energy, and linear causal links from total and disaggregated energy consumption to economic growth. A nonlinear causality also exists from energy consumption, the transport sector, capital, and labor to output. These results support the growth hypothesis, which maintains that energy is an important input factor for economic activity and that energy conservation policies impact the economic growth in Mexico.

  1. Agglomeration Economies, Economic Growth and the New Economic Geography in Mexico

    OpenAIRE

    Alejandro Diaz-Bautista

    2005-01-01

    The present study of regional economic growth in Mexico is based on the new economic geography, where distance plays an important role in explaining urban regional economic growth. The results show that distance to the northern border of Mexico and labor migration between states of Mexico, after the passage of NAFTA are important factors that explain the regional state growth and agglomerations in Mexico between 1994 and 2000. The results also indicate that job growth and FDI are not signific...

  2. Factor-structure of economic growth in E-commerce

    Institute of Scientific and Technical Information of China (English)

    吴隽; 刘洪久; 栾天行

    2003-01-01

    In order to analyze the factors having effect on economic growth of E-commerce, the economic growthprocess of E-commerce is divided into three stages; growth stage, stabilization stage and re-growth stage. Thesethree different stages are analysed using several economic growth theories, a set of factor-structure is proposedfor each stage of the economic growth process of E-commerce.

  3. Effect of economic growth and environmental quality on tourism in Southeast Asian Countries

    Science.gov (United States)

    Firmansyah

    2017-02-01

    The tourism is an important sector in generating income for a country, nevertheless, tourism is sensitive toward the changes in economy, as well as changes in environmental quality. By employing econometric models of error correction on annual data, this study examines the influence of environmental quality, domestic and global economic growth on foreign tourist arrivals in selected Southeast Asian countries, namely Indonesia, Malaysia, Thailand, Philippines, and Singapore. The findings of this study showed that all of countries long run model were proved statistically, indicated that world economic growth as well as environmental quality affect foreign tourism arrivals.

  4. Health sector employment growth calls for improvements in labor productivity.

    Science.gov (United States)

    Hofmarcher, Maria M; Festl, Eva; Bishop-Tarver, Leslie

    2016-08-01

    While rising costs of healthcare have put increased fiscal pressure on public finance, job growth in the health sector has had a stabilizing force on overall employment levels - not least in times of economic crises. In 2014 EU-15 countries employed 21 million people in the health and social care sector. Between 2000 and 2014 the share of employed persons in this sector rose from 9.5% to 12.5% of the total labor force in EU-15 countries. Over time labor input growth has shifted towards residential care activities and social work while labor in human health activities including hospitals and ambulatory care still comprises the major share. About half of the human health labor force works in hospital. Variation of health and social care employment is large even in countries with generally comparable institutional structures. While standard measures of productivity in health and social care are not yet comparable across countries, we argue that labor productivity of a growing health work force needs more attention. The long-term stability of the health system will require care delivery models that better utilize a growing health work force in concert with smart investments in digital infrastructure to support this transition. In light of this, more research is needed to explain variations in health and social care labor endowments, to identify effective policy measures of labor productivity enhancement including enhanced efforts to develop comparable productivity indicators in these areas. Copyright © 2016 Elsevier Ireland Ltd. All rights reserved.

  5. Relationship Between Education Expenditure And Economic Growth ...

    African Journals Online (AJOL)

    The empirical part of the result shows that there is unidirectional relationship between education and economic growth with causality running from education expenditure to economic growth. The result therefore suggests that policy makers should boost expenditure on education as it will further improve economic growth in ...

  6. CORRELATION BETWEEN ECONOMIC GROWTH AND UNEMPLOYMENT

    Directory of Open Access Journals (Sweden)

    Savu Mihaela

    2013-06-01

    Full Text Available The mankind progress is built on economic growth.Yet, the high rates of economic growth must be properly used and correlated with other macroeconomic indicators in order to get the aimed effects.At the Romanian economic level, there is an inverse ratio connection between the gross domestic product and the unemployed number, a connection of low intensity.The correlation of these two indicators was established using parametric and nonparametric methods of analyzing the statistic connection using the informatic soft. Setting the recession function allows us to calculate the unemployed number depending on the forecasting of the economic growth in Romania.

  7. REMITTANCES AND ECONOMIC GROWTH IN TURKEY

    Directory of Open Access Journals (Sweden)

    Huseyin KARAMELIKLI

    2015-07-01

    Full Text Available Savings are one of the important determinants beyond the theories of economic growth. Therefore remittances and foreign direct investment inflows have importance for the countries having insufficient savings. This study examines the relationship between economic growth, remittances, foreign direct investment inflows and gross domestic savings in Turkey during the period 1974-2013 by using Autoregressive Distributed Lag approach. We found that remittances, foreign direct investment and gross domestic savings had positive impact on economic growth.

  8. Rethinking Economics and Education: Exponential Growth and Post-Growth Strategies

    Science.gov (United States)

    Irwin, Ruth

    2017-01-01

    Education is increasingly vocational and structured to serve the ongoing exponential increase in economic growth. Climate change is an outcome of these same economic values and praxes. Attempts to shift these values and our approach to technology are continually absorbed and overcome by the pressing motif of economic growth. In this article, Ruth…

  9. Structural modelling of economic growth: Technological changes

    Directory of Open Access Journals (Sweden)

    Sukharev Oleg

    2016-01-01

    Full Text Available Neoclassical and Keynesian theories of economic growth assume the use of Cobb-Douglas modified functions and other aggregate econometric approaches to growth dynamics modelling. In that case explanations of economic growth are based on the logic of the used mathematical ratios often including the ideas about aggregated values change and factors change a priori. The idea of assessment of factor productivity is the fundamental one among modern theories of economic growth. Nevertheless, structural parameters of economic system, institutions and technological changes are practically not considered within known approaches, though the latter is reflected in the changing parameters of production function. At the same time, on the one hand, the ratio of structural elements determines the future value of the total productivity of the factors and, on the other hand, strongly influences the rate of economic growth and its mode of innovative dynamics. To put structural parameters of economic system into growth models with the possibility of assessment of such modes under conditions of interaction of new and old combinations is an essential step in the development of the theory of economic growth/development. It allows forming stimulation policy of economic growth proceeding from the structural ratios and relations recognized for this economic system. It is most convenient in such models to use logistic functions demonstrating the resource change for old and new combination within the economic system. The result of economy development depends on starting conditions, and on institutional parameters of velocity change of resource borrowing in favour of a new combination and creation of its own resource. Model registration of the resource is carried out through the idea of investments into new and old combinations.

  10. Implications Of Foreign Direct Investment, Financial Development And Real Exchange Rate For Economic Growth In Cameroon

    Directory of Open Access Journals (Sweden)

    Victalice Ngimanang Achamoh

    2016-05-01

    Full Text Available This paper assesses the effects of foreign direct investment (FDI, financial development and real exchange rate (RER on economic growth in Cameroon using Cameroon’s annual time series data spanning the period 1977 - 2010. To address these objectives, residual based Engle-Granger test, the OLS based Autoregressive Distributive Lag (ARDL bound testing and maximum likelihood based Johansen cointegration techniques are employed. Results of Unit roots tests show that all the series possessed unit roots at level or first difference form. The ARDL model and VECM results reveal that the RER has a significant negative effect on economic growth, while FDI and Financial Development relate positively to economic growth. These findings have implications for stimulating economic growth by increasing efficiency of the financial sector in allocating credit to the private sector and preventing real exchange rate appreciation in the shortrun.

  11. Is Urban Economic Growth Inclusive in India?

    OpenAIRE

    Tripathi, Sabyasachi

    2013-01-01

    This paper measures the overall inclusive growth of a city by considering changing trends in the key economic variables based on ‘Borda ranking’ and establishes a relationship between city economic growth and overall city inclusive growth. By using data of 52 large cities in India, this paper finds that higher urban economic growth is associated with an increase in urban inequality, a reduction in urban poverty, and a lower level of overall inclusive growth of a city.

  12. Corruption and economic growth with non constant labor force growth

    Science.gov (United States)

    Brianzoni, Serena; Campisi, Giovanni; Russo, Alberto

    2018-05-01

    Based on Brianzoni et al. [1] in the present work we propose an economic model regarding the relationship between corruption in public procurement and economic growth. We extend the benchmark model by introducing endogenous labor force growth, described by the logistic equation. The results of previous studies, as Del Monte and Papagni [2] and Mauro [3], show that countries are stuck in one of the two equilibria (high corruption and low economic growth or low corruption and high economic growth). Brianzoni et al. [1] prove the existence of a further steady state characterized by intermediate levels of capital per capita and corruption. Our aim is to investigate the effects of the endogenous growth around such equilibrium. Moreover, due to the high number of parameters of the model, specific attention is given to the numerical simulations which highlight new policy measures that can be adopted by the government to fight corruption.

  13. Coal consumption and economic growth in Taiwan

    International Nuclear Information System (INIS)

    Yang, H.Y.

    2000-01-01

    The purpose of this paper is to examine the causality issue between coal consumption and economic growth for Taiwan. The co-integration and Granger's causality test are applied to investigate the relationship between the two economic series. Results of the co-integration and Granger's causality test based on 1954--1997 Taiwan data show a unidirectional causality from economic growth to coal consumption with no feedback effects. Their major finding supports the neutrality hypothesis of coal consumption with respect to economic growth. Further, the finding has practical policy implications for decision makers in the area of macroeconomic planning, as coal conservation is a feasible policy with no damaging repercussions on economic growth

  14. GROWTH ECONOMICS AND DEVELOPMENT ECONOMICS: WHAT SHOULD DEVELOPMENT ECONOMISTS LEARN (IF ANYTHING) FROM THE NEW GROWTH THEORY?

    OpenAIRE

    Ruttan, Vernon W.

    1998-01-01

    Since their emergence as a distinct fields of inquiry in the early post World War II period there has been an uneasy relationship between growth economics and development economics. The emergence of a richer new growth economics' has opened up the possibilities of a more fruitful dialogue between the two subdisciplines. In spite of recent advances, particularly with respect to the human capital, and understanding of differences in growth rates and income levels across countries remains elusiv...

  15. REFERENCE MODELS OF ENDOGENOUS ECONOMIC GROWTH

    OpenAIRE

    GEAMĂNU MARINELA

    2012-01-01

    The new endogenous growth theories are a very important research area for shaping the most effective policies and long term sustainable development strategies. Endogenous growth theory has emerged as a reaction to the imperfections of neoclassical theory, by the fact that the economic growth is the endogenous product of an economical system.

  16. Foreign acquisition, plant survival, and employment growth

    DEFF Research Database (Denmark)

    Bandick, Roger; Görg, Holger

    2010-01-01

    This paper analyzes the effect of foreign acquisition on survival and employment growth of targets using data on Swedish manufacturing plants.We separate targeted plants into those within Swedish MNEs, Swedish exporting non-MNEs, and purely domestic firms. The results, controlling for possible...... acquisitions. We find robust positive employment growth effects only for exporters and only if the takeover is vertical....

  17. The economic growth of oil countries

    International Nuclear Information System (INIS)

    Arbod, G.

    2007-02-01

    The literature tries to apprehend the weakness of the economic growth of oil culminates by the assumption of ousted growth factors. In the Dutch Disease models the non-oil exporting sector would be ousted whereas in the analyses in terms of economic policies it would be the efficient economic policies. We consider the phenomenon through the growth theories, the oil income being regarded as an additional exogenous income for the economy. In this manner the growth dynamic of oil countries, even the most unfavourable, can be modelled without utilizing any concept of economic inefficiency. The last part of our work is devoted to the Saudi economy. After having developed a macro-econometric model, and using scenarios of oil prices, we lead a forecasted analysis of this economy. (author)

  18. A Comparative Analysis of the Impact of Agricultural Exports on Economic Growth of ECOWAS Countries

    Directory of Open Access Journals (Sweden)

    Richardson Kojo Edeme

    2016-10-01

    Full Text Available Towards the acceleration of the attainment of sustainable growth, most countries have focused on agricultural exports as a means of driving their economy. Developing countries of Africa are highly dependent on the agricultural sector and agricultural exports are a major determinant of economic growth of these countries. However, the impact of agricultural exports on economic growth of ECOWAS countries remains unclear. This study therefore evaluates the impact of agricultural exports on the economic growth of fifteen ECOWAS countries using panel data for the period 1980–2013. Variables employed are labour force participation rate, capital stock, agricultural exports, non-agricultural exports, inflation and economic growth. The results of the fixed-effect model show that agricultural exports have not impacted significantly on the economic growth of ECOWAS countries such as Côte d’Ivoire and Nigeria with respect to the Republic of Benin, which is the selected baseline. The study also analysed the country combined effect of the agricultural exports and found that it was significant but the rate of impact was weak. The study recommends, among others, that even though agricultural exports had a significant impact on economic growth, there is still a need for ECOWAS governments to improve their agricultural sector as its significance is more noticeable in some countries such as Côte d’Ivoire and Nigeria.

  19. Business ethics and economic growth: An empirical analysis for Turkish economy

    Directory of Open Access Journals (Sweden)

    Ekrem Erdem

    2015-12-01

    Full Text Available Purpose – The roots of the science of modern economics are originated from the ideas of Adam Smith who is not a pure economist but a moralist-philosopher. Basic concepts in the Wealth of Nations which is perceived as the hand book of economics depend on the arguments that Adam Smith suggests in his Theory of Moral Sentiments. In this theory, business ethics as a part of the Law of Sympathy appears as one of the factors that provide the invisible hand to operate properly. In light of this property, it is possible to assume business ethics as one of the components of the market mechanism. In this context, this study aims to analyse the link between business ethics and economic growth in the Turkish economy. Design/methodology/approach – The study employs bounced cheques and protested bonds for representing the degradation of business ethics and tries to show how this degradation affects economic growth in the Turkish economy for the period 1988-2013. Findings – Either illustrative or empirical results show that business ethics is an important determinant of economic growth in the Turkish economy and damaging it negatively effects the growth rate of the economy. Research limitations/implications – One of the most restrictive things conducting the present empirical analysis is the lack of various and longer data sets. Using different indicators in terms of business ethics with longer time span will definitely increase the reliability of the study. However, in the current form, results imply a policy that is capable of limiting the failures of business ethics may boost the Turkish economy up. Originality/value – The results tend to support the close link between business ethics and economic growth.

  20. Effects of Credit on Economic Growth, Unemployment and Poverty

    Directory of Open Access Journals (Sweden)

    Mangasa Augustinus Sipahutar

    2016-06-01

                  Effect of credit on economic growth, unemployment and poverty provides evidence from Indonesia on the role of banks credit for promoting economic growth and reducing both unemployment and poverty.  To document the link between banks credit and economic growth, we estimate a VAR model and variance decompositions of annual GDP per capita growth rates to examine what proxy measures of banks credit are most important in accounting for economic growth over time and how much they contribute to explaining economic growth.  We also estimate an ECM to document the relationship between banks credit to both unemployment and poverty.  This paper revealed bi-direction causality between banks credit and economic growth.  Banks credit promotes economic growth and economic growth affects credit depth and financial development.  Furthermore, banks credit is a growth accelerating factor on Indonesian economic growth.  Banks credit is an endogenous growth and a good predictor on Indonesian economy. Our estimation model explained that credit allocated by banks increases business escalation to the real sectors then promotes economic growth, decreases unemployment rate through increasing in labor demanded, increases income and then decrease poverty.  This overall transmission mechanism just occurred through presence of banks credit by increasing money supply to the real sectors, promotes growth and social welfare.   Keywords :  banks credit, economic growth, growth accelerating factor, poverty, unemployment   JEL Classification : E51, E52, E58

  1. THE CORRELATION BETWEEN RESEARCH AND DEVELOPMENT AND THE ECONOMIC GROWTH IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Dragomir Laurentiu

    2008-05-01

    Full Text Available The increasing productivity of production factors, due to progresses in science and technology is today the engine of economic growth. The economic theory managed to endogenize the technical progress, first as a result of the unintended activities of firms, then as the result of profit driven behaviour of economic agents. In globalization the stock of knowledge becomes available also to developing countries and the production technologies and their employment are more democratic regarding the availability. For the developing countries it still remains the problem of financial resources and availability. Developing new technologies has a prohibitive costs, at least until the moment in which large scale production allows for the reduction of costs. Long term economic growth will depend on the creation of global technology stock, including the leverage effect of sustained RxD. In this paper we will approach the progress of Romania in the area of knowledge base economy, especially regarding the policies in the RxD sector.

  2. Industrial policy, production efficiency improvement and the Chinese county economic growth

    Directory of Open Access Journals (Sweden)

    Wang Zhenhua

    2016-12-01

    Full Text Available This study aims at analyzing the difference in the level of economic development between China’s counties from the two perspectives of industrial policy and production efficiency. Based on panel data of 1830 Chinese counties, this study employs the new classical economic growth theory framework to analyze the counties’ economic growth by the perpetual inventory method, Malmquist index, among others. The results show that the economy of the counties exhibits δ convergence since 2004, and the absolute differences in the different counties are expanding. Industrial policy ensures the additional deepening of the level of capital in the county. Additionally, a substantial difference was observed between the agricultural sector and the non-agricultural sector, whereby the total factor productivity and the technical efficiency are on the rise, resulting in the phenomenon of dual paths of technological progress. In summary, the capital deepening difference between the sectors, production efficiency, and dual paths of technological progress owing to the counties’ industrial policy are the basic reasons for the regional differences in the level of economic development in China.

  3. Does FDI influence economic growth in Albania?

    Directory of Open Access Journals (Sweden)

    Aurel Koroci

    2018-03-01

    Full Text Available Foreign direct investment (FDI has been viewed as a power affecting economic growth (EG directly and indirectly during the past few decades. Foreign direct investment (FDI in developing countries brings economic development and enhances the international competitiveness of domestic enterprises. It is argued in the existing literature that foreign direct investment (FDI influences economic growth through technology diffusion, human capital formation, etc. FDI accounts for the largest and most important proportion of foreign capital in Albania, which undoubtedly plays an important role in the Albania’s economic development growth. However, as the country’s FDI increases, and in this paper I want to make an empirical research how the FDI has influenced the economic growth of the country. The findings revealed that there is a strong positive relationship between the FDI inflows and the GDP for the studied period which covers 1995 to 2012, thus a positive effect on the economic growth.

  4. Employment and Growth | Page 75 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    ... book exposes the miserable financial conditions endured by India's separated and ... IDRC's Supporting Inclusive Growth (SIG) program supports the ... Increasingly, the concept of "inclusive growth," where the benefits of economic growth are ... of globalization, in general, and trade liberalization, in particular, on poverty.

  5. Additional employer and employee obligations of the contract of employment

    OpenAIRE

    Jankauskaitė, Vaida

    2009-01-01

    Economic growth since 2001 till 2008 start leaded to higher incomes for both employers and employees, many new jobs were created. The unemployment rate in Lithuania was particularly low, moreover, according to official statistics, nearly half a million people emigrated from Lithuania. Labor market challenges and economic patterns determined the principles of the labor law and the content of the norms, public social and political conditions. Employers, through businesses, noticed that it has b...

  6. The impacts of gaming expansion on economic growth: a theoretical reconsideration.

    Science.gov (United States)

    Li, Guoqiang; Gu, Xinhua; Siu, Ricardo Chi Sen

    2010-06-01

    This paper employs a general equilibrium framework to analyze the effects on economic growth of global expansions in casino gaming, which exports gambling services largely to non-residents. Both domestic and foreign investments in the gaming sector bring in not only substantial revenues but also positive spillover effects on related sectors and even on the entire local economy. However, an over-expansion of commercial gambling may lead to deterioration in the terms of trade with an adverse impact on real income. If this situation persists, it would not be impossible for immiserizing growth to occur. As a highly profitable sector, casino gaming may enable its operators to diversify out of this risk if they invest retained profits in non-gaming sectors to cash in on the spillover effects it has created. The gaming-dominant economy can then be directed on a more balanced and sustainable growth path, and will become less susceptible to business cycles. Indeed, economic experiences in the world's major casino resorts are consistent basically with this argument for diversification. We believe that after the current global crisis fades away, economic growth and resulting surges in global demand for gambling services can provide further opportunities for the expansion of existing casino resorts and the development of new gaming markets.

  7. Economic openness and economic growth: A cointegration analysis for ASEAN-5 countries

    Directory of Open Access Journals (Sweden)

    Klimis Vogiatzoglou

    2016-11-01

    Full Text Available The paper considers three channels of economic openness, namely FDI, imports, and exports, and examines their short-run and long-run effects on the economic growth in the five founding member countries of the Association of Southeast Asian Nations (ASEAN over the period from 1980 to 2014. Besides the impact on the economic growth, the authors analyze all possible causal interrelationships to discern patterns and directions of causality among FDI, imports, exports, and GDP. The quantitative analysis, which is based on the vector error correction co-integration framework, is conducted separately for each country in order to assess their individual experiences and allow for a comparative view. Although the precise details differ across countries, the findings indicate that there is a long-run equilibrium relationship between economic openness and GDP in all ASEAN-5 economies. FDI, imports and exports have a significantly positive short-run and long-run impact on the economic growth. Our results also show that export-led growth is the most important economic growth factor in most countries, followed by FDI-led growth. Another crucial finding is the bi-directional causality between exports and FDI across the ASEAN-5 countries. This indicates the presence of direct and indirect effects on GDP and a self-reinforcing process of causality between those two variables, which strengthens their impact on the economic growth.

  8. Renewable energy consumption and economic growth: Evidence from a panel of OECD countries

    International Nuclear Information System (INIS)

    Apergis, Nicholas; Payne, James E.

    2010-01-01

    This study examines the relationship between renewable energy consumption and economic growth for a panel of twenty OECD countries over the period 1985-2005 within a multivariate framework. Given the relatively short span of the time series data, a panel cointegration and error correction model is employed to infer the causal relationship. The heterogeneous panel cointegration test reveals a long-run equilibrium relationship between real GDP, renewable energy consumption, real gross fixed capital formation, and the labor force with the respective coefficients positive and statistically significant. The Granger-causality results indicate bidirectional causality between renewable energy consumption and economic growth in both the short- and long-run.

  9. How energy conversion drives economic growth far from the equilibrium of neoclassical economics

    International Nuclear Information System (INIS)

    Kümmel, Reiner; Lindenberger, Dietmar

    2014-01-01

    Energy conversion in the machines and information processors of the capital stock drives the growth of modern economies. This is exemplified for Germany, Japan, and the USA during the second half of the 20th century: econometric analyses reveal that the output elasticity, i.e. the economic weight, of energy is much larger than energy's share in total factor cost, while for labor just the opposite is true. This is at variance with mainstream economic theory according to which an economy should operate in the neoclassical equilibrium, where output elasticities equal factor cost shares. The standard derivation of the neoclassical equilibrium from the maximization of profit or of time-integrated utility disregards technological constraints. We show that the inclusion of these constraints in our nonlinear-optimization calculus results in equilibrium conditions, where generalized shadow prices destroy the equality of output elasticities and cost shares. Consequently, at the prices of capital, labor, and energy we have known so far, industrial economies have evolved far from the neoclassical equilibrium. This is illustrated by the example of the German industrial sector evolving on the mountain of factor costs before and during the first and the second oil price explosion. It indicates the influence of the ‘virtually binding’ technological constraints on entrepreneurial decisions, and the existence of ‘soft constraints’ as well. Implications for employment and future economic growth are discussed. (paper)

  10. How energy conversion drives economic growth far from the equilibrium of neoclassical economics

    Science.gov (United States)

    Kümmel, Reiner; Lindenberger, Dietmar

    2014-12-01

    Energy conversion in the machines and information processors of the capital stock drives the growth of modern economies. This is exemplified for Germany, Japan, and the USA during the second half of the 20th century: econometric analyses reveal that the output elasticity, i.e. the economic weight, of energy is much larger than energy's share in total factor cost, while for labor just the opposite is true. This is at variance with mainstream economic theory according to which an economy should operate in the neoclassical equilibrium, where output elasticities equal factor cost shares. The standard derivation of the neoclassical equilibrium from the maximization of profit or of time-integrated utility disregards technological constraints. We show that the inclusion of these constraints in our nonlinear-optimization calculus results in equilibrium conditions, where generalized shadow prices destroy the equality of output elasticities and cost shares. Consequently, at the prices of capital, labor, and energy we have known so far, industrial economies have evolved far from the neoclassical equilibrium. This is illustrated by the example of the German industrial sector evolving on the mountain of factor costs before and during the first and the second oil price explosion. It indicates the influence of the ‘virtually binding’ technological constraints on entrepreneurial decisions, and the existence of ‘soft constraints’ as well. Implications for employment and future economic growth are discussed.

  11. ECONOMETRIC EVALUATION OF THE RELATIONSHIP ECONOMIC GROWTH AND UNEMPLOYMENT IN EU & TURKEY

    Directory of Open Access Journals (Sweden)

    Erygit Pinar

    2014-07-01

    Full Text Available Unemployment, in Turkey as well as in the whole, world poses huge economic problems. When considering Turkey's economy with a continued growth but a sustainable growth trend that cannot be provided and cannot be avoided in unemployment. The concepts of unemployment and economic growth in the macro and micro level are the subject of many studies. Economists look for solutions to these problems that are faced by each country; unemployment, unemployment causes, economic growths are all concepts that are discussed. Turkey's population growth rate is high, investment and capital accumulation at the desired level cannot be performed, the quality of labor as a lack of economic and political instability, informal employment, the existence of inter-regional disparities, the lack of sufficient support in agriculture contribute to the many reasons such as unemployment, the foundation raised as an issue is caused to the end. One of the biggest problems faced by Turkey's economy has long been the problems of unemployment. Many policies have been identified and implemented to combat unemployment have been studied. High rates of growth to reduce unemployment are among the most important of these policies. The relationship between unemployment and growth for the first time was examined by Arthur M. Okun (1962. The main objective of this study with the participation of Croatia in 2013 with 28 member countries of the European Union and in Turkey for the period 2001-2011 is to examine and test the relationship between economic growth and unemployment is variable. Analysis Breitung (2000, ADF Fisher and Levin, Lin and Chu (2002 panel unit root tests, Westerlund (2007 panel cointegration tests are used. Breitung (2000, ADF Fisher and Levin, Lin and Chu (2002 tests taken by the series of first differences were stagnant. In addition, error correction model established between unemployment and economic growth Hausman tests were performed, and long-term parameters have

  12. Global Prospects for Full Employment

    Directory of Open Access Journals (Sweden)

    Ivo Šlaus

    2011-04-01

    Full Text Available The recent international financial crisis highlights the crucial role of employment in human welfare and social stability. Access to remunerative employment opportunities is essential for economic security in a market-based economic system. As the rise of democracy compelled nations to extend the voting right to all citizens, employment must be recognized as a fundamental human right. In total defiance of conventional wisdom, since 1950 job growth has outpaced the explosive growth of population, the rapid adoption of labor-saving technologies, the manifold expansion of world trade, and the dramatic shift from manual labor to white collar work. In an increasingly globalized labor market, current nation-centric theories and models of employment need to be replaced with a human-centered global perspective complemented by new indicators that recognize the central and essential contribution of employment to human economic welfare. Employment and economy are subsets of society and their growth is driven by the more fundamental process of social development. A vast array of unmet social needs combined with an enormous reservoir of underutilized social resources – technological, scientific, educational, organizational, cultural and psychological – can be harnessed to dramatically expand employment opportunities and achieve full employment on a global basis. This paper examines the theoretical basis, policy issues and strategies required to eradicate unemployment nationally and globally.

  13. Nonlinear Co-Integration Between Unemployment and Economic Growth in South Africa

    Directory of Open Access Journals (Sweden)

    Andrew Phiri

    2014-12-01

    Full Text Available In this paper, a momentum threshold autoregressive (MTAR model is used to evaluate nonlinear equilibrium reversion between unemployment and economic growth for South African data between the periods 2000–2013. To attain this objective we estimate the first-difference and the gap model variations of Okun’s specification. For the latter model variation, we employ three de-trending methods to obtain the relevant ‘gap’ data; namely, the Hodrick-Prescott (HP filter, the Baxter-King (BK filter and the Butterworth (BW digital filter. A common finding from our empirical analysis is that Okun’s law holds concretely for South African data regardless of the model specification or the de-trending technique that is used. Moreover, our analysis proves that unemployment Granger causes economic growth in the long-run, a result which may account for the jobless-growth phenomenon experienced by South Africa over the last decade or so.

  14. On the relationship between economic freedom and economic growth

    NARCIS (Netherlands)

    Haan, Jakob de; Sturm, Jan-Egbert

    1999-01-01

    Often it is maintained that economic freedom may further high levels of economic growth. This paper compares various indicators for economic freedom. It is concluded that although these measures differ somewhat in their coverage, they show similar rankings for the countries covered. Some elements in

  15. ECONOMIC GROWTH - AN ILLUSION? STUDY CASE:ROMANIA

    Directory of Open Access Journals (Sweden)

    Camelia MORARU

    2013-12-01

    Full Text Available Literature has devoted considerable attention to economic growth because it creates the premises for achieving major goals such as route out of poverty of underdeveloped countries or contribute to raising the standard of living in developed countries. Economic growth has become an “order of the day” term, propagated by various "players" of economic and social life, in this way gaining various interpretations and meanings. This paper presents the results of the measures adopatate in order to recover Romanian economic situation. The austerity measures adopted until recently not allowed, however, to create a favorable environment for growth, taking into consideration that it is almost impossible for an economy to grow when conditions are limiting. Fiscal policies have focused on reducing the budget deficit, which led on slaughtering economic growth. Given the uncertain economic context, FDI was hardly drew into our country, their value last year has been insignificant. We can even say that the previous ended year was one economically, because our country did not recognize the road to the economic recovery.

  16. Energy and economic growth in the USA: a multivariate approach

    International Nuclear Information System (INIS)

    Stern, D.I.

    1993-01-01

    This paper examines the casual relationship between Gross Domestic Product and energy use for the period 1947-90 in the United States of America. The relationship between energy use and economic growth has been examined by both biophysical and neoclassical economists. In particular, several studies have tested for the presence of a causal relationships (in the Granger sense) between energy use and economic growth. However, these tests do not allow a direct test of the relative explanatory powers of the neoclassical and biophysical models. A multivariate adaptation of the test-vector autoregression (VAR) does allow such a test. A VAR of GDP, energy use, capital stock and employment is estimated and Granger tests for causal relationships between the variables are carried out. Although there is no evidence that gross energy use Granger causes GDP, a measure of final energy use adjusted for changing fuel composition does Granger cause GDP. (author)

  17. The role of energy in economic growth.

    Science.gov (United States)

    Stern, David I

    2011-02-01

    This paper reviews the mainstream, resource economics, and ecological economics models of growth. A possible synthesis of energy-based and mainstream models is presented. This shows that when energy is scarce it imposes a strong constraint on the growth of the economy; however, when energy is abundant, its effect on economic growth is much reduced. The industrial revolution released the constraints on economic growth by the development of new methods of using coal and the discovery of new fossil fuel resources. Time-series analysis shows that energy and GDP cointegrate, and energy use Granger causes GDP when capital and other production inputs are included in the vector autoregression model. However, various mechanisms can weaken the links between energy and growth. Energy used per unit of economic output has declined in developed and some developing countries, owing to both technological change and a shift from poorer quality fuels, such as coal, to the use of higher quality fuels, especially electricity. Substitution of other inputs for energy and sectoral shifts in economic activity play smaller roles. © 2011 New York Academy of Sciences.

  18. Retail payments and economic growth

    OpenAIRE

    Hasan, Iftekhar; De Renzis, Tania; Schmiedel , Heiko

    2012-01-01

    This paper examines the fundamental relationship between retail payments and overall economic growth. Using data from across 27 European markets over the period 1995–2009, the results confirm that migration to efficient electronic retail payments stimulates overall economic growth, consumption and trade. Among different payment instruments, this relationship is strongest for card payments, followed by credit transfers and direct debits. Cheque payments are found to have a relatively low macro...

  19. Political regime change, economic liberalization and growth accelerations

    NARCIS (Netherlands)

    Jong-A-Pin, Richard; De Haan, Jakob

    We examine whether the type of political regime, regime changes, and economic liberalization are related to economic growth accelerations. Our results show that growth accelerations are preceded by economic liberalizations. We also find that growth accelerations are less likely to happen the longer

  20. The contribution of public capital towards economic growth: A KwaZulu-Natal case study

    Directory of Open Access Journals (Sweden)

    Clive E. Coetzee

    2017-04-01

    Aim: The way provincial or regional growth depends on infrastructure is investigated in this article and it is applied to data from KwaZulu-Natal province, as an illustration. Setting: This study investigates the extent to which infrastructure in KwaZulu-Natal province in South Africa leads towards economic growth of the province. Methods: From a theoretical framework, this article develops an endogenous growth model, which investigates the association between provincial public capital stock expenditure and economic growth. Data series for public capital formation are first developed to apply in this study and others to follow. Econometric techniques are then employed, using quarterly data between 2001 and 2015, to assess the set hypothesis that growth in expenditure on public capital leads to national economic growth. Results: The empirical results support the argument of a positive relationship between provincial capital stock and economic growth in the long-term. The findings also suggests that the long-term causality or effect fades over time, albeit slowly. Conclusion: The nature and statistical significance of the long-term equilibrium relationship seems to be ambiguous at best. Some evidence of an equilibrium relationship in the short-term was, however, also observed. In conclusion, there also seems to be some causality between provincial capital stock and provincial gross domestic product in the short-run.

  1. Oil price shocks, stock market, economic activity and employment in Greece

    International Nuclear Information System (INIS)

    Papapetrou, E.

    2001-01-01

    Using a multivariate vector-autoregression (VAR) approach, this paper attempts to shed light into the dynamic relationship among oil prices, real stock prices, interest rates, real economic activity and employment for Greece. The empirical evidence suggests that oil price changes affect real economic activity and employment. Oil prices are important in explaining stock price movements. Stock returns do not lead to changes in real activity and employment

  2. Economic growth and intangible capitals: Europe versus Asia

    Directory of Open Access Journals (Sweden)

    Navarro José-Luis Alfaro

    2014-01-01

    Full Text Available At present, the international growth model includes important restrictions about the consideration of GDP as a unique tool for measurement. In this sense, taking into consideration the wealth of a country, we must add intangibles such as human development, country image, employment conditions, environmental, innovation, public sector efficiency, and synergies to the variable production, which is defined as national intellectual capital. In this paper, we use a mathematical model of intellectual capital to determine, in monetary terms, the intangible elements that have a greater impact on long-term economic development in European and Asian countries. We have the main limitation of available information and we provide objective results using statistical method. By identifying these components, countries will be able to redirect their policies toward achieving sustainable long-term growth. The results show that the long-term growth of both continents are strongly dependent on the skills of their human resources, but register differences in structural factors such as trade, innovation, or environment.

  3. Government Investment, Growth and Employment in South Africa ...

    African Journals Online (AJOL)

    This paper focuses on the impact of government investment on growth and employment in South Africa. As a prelude to the analysis, the paper refers to theory and practical evidence which indicates the way investment can influence growth and employment. Also, a review of investment patterns in South Africa in the past ...

  4. Renewable energy consumption and economic growth in Argentina. A multivariate co-integration analysis

    OpenAIRE

    Khobai, Hlalefang

    2018-01-01

    This paper applied the ARDL bounds test approach and the VECM test technique to examine the long run relationship and direction of causality between renewable energy consumption and economic growth in Argentina. Quarterly time series data was employed in this study covering a period between 1990 and 2014. Trade openness, capital and employment were included in the study to form a multivariate framework. The results established that there is a long run relationship between the variables. The V...

  5. The Employment Impact of Poland’s Special Economic Zones Policy

    DEFF Research Database (Denmark)

    Jensen, Camilla

    2018-01-01

    >gminas (communes) more likely to be negatively affected by the economic transition. A significant and positive effect of the policy on employment is documented, but with some negative spillovers at the policy level as zones start to spread rapidly. Accounting for covariates, timing, policy spillovers and reducing......In 1994, Poland launched a special economic zones experiment to maintain employment structures outside the major cities. Using difference-in-difference estimations, this paper evaluates whether the policy has been successful in its primary objective, which is to sustain employment in

  6. Economic Recovery: Sustaining U.S. Economic Growth in a Post-Crisis Economy

    Science.gov (United States)

    2010-07-22

    Mankiw , Principles of Economics (Ft. Worth, Dryden Press, 1998), p556, and Robert J. Barro, “Are Government Bonds Net Wealth?” Journal of Political...CRS Report for Congress Prepared for Members and Committees of Congress Economic Recovery: Sustaining U.S. Economic Growth in a Post...2. REPORT TYPE 3. DATES COVERED 00-00-2010 to 00-00-2010 4. TITLE AND SUBTITLE Economic Recovery: Sustaining U.S. Economic Growth in a Post

  7. Economic Growth as a Factor of Political Stability

    Directory of Open Access Journals (Sweden)

    Анна Олеговна Ярославцева

    2015-12-01

    Full Text Available The article analyzes actual problems of the impact of economic growth on the political stability of different state. The author shows that despite the undoubted correlation of the level of economic development and political stability, economic growth by itself is not a panacea for destabilization risks because of the effects of inflated expectations and transformations of social consciousness. The author argues that the impact of economic growth on political stability is largely ambivalent. On the basis of “Tocqueville's law” and the range of theories of “relative deprivation”, the author makes a conclusion about the principal limitations of predictive and interpretive capabilities of economic indicators (primarily economic growth for the analysis of political stability.

  8. Employment Composition: A Study of Australian Employment Growth, 2002–2006

    OpenAIRE

    Jeremy Lawson; Crystal Ossolinski

    2010-01-01

    This paper uses data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey to examine whether there was a change in employment rates for people with ‘low employment’ characteristics between 2002 and 2006, which was a period of strong employment growth. In particular, it estimates the relationships between employment and personal and household characteristics using a binomial logit model, with a comparison of the coefficients in 2002 and 2006 providing tentative evidence o...

  9. [The decline in population growth, income distribution, and economic recession].

    Science.gov (United States)

    Banguero, H

    1983-05-01

    This work uses Keynesian principles and an analysis of the Colombian population in the 1970s to argue that the Colombian policy of slowing population growth, which was adopted with the aim of improving the general welfare of the population, has had shortterm negative effects on effective demand and thus on the level of employment and welfare. These negative effects were caused by the inflexibility of income distribution, which prevented expansion of the internal market, complicated by the stagnant condition of the external sector and the budget deficit. The results of the Colombian case study demonstrate how the deceleration of population growth beginning in the 1960s had a significant impact on the levels of consumption and savings and on the patterns of consumption, leading to low levels of investment and little dynamism. Although the current Colombian economic recession is aggravated by contextual factors such as the world economic recession, the high cost of capital, the industrial recession, and declining food production among others, at the core of the crisis are longer term structural determinants such as the decline in the rate of population growth and the highly unequal distribution of income and wealth, which have contributed to a shrinking of the internal market for some types of goods. Given the unlikelihood of renewed rapid population growth, the Keynesian model suggests that the only alternative for increasing aggregate demand is state intervention through public spending and investment and reorientation of the financial system to achieve a dynamic redistribution of income. Based on these findings and on proposals of other analysts, a stragegy for revitalization is proposed which would imply a gradual income redistribution to allow increased consumption of mass produced goods by the low income groups. Direct consumption subsidies would be avoided because of their inflationary and import-expanding tendencies; rather, incentives and support would be

  10. THE CONNECTION BETWEEN ECONOMIC GROWTH AND STOCK MARKETS

    Directory of Open Access Journals (Sweden)

    Andreea Maria PECE

    2015-04-01

    Full Text Available This paper examines the connection between economic growth and stock market performance in the case of an emerging economy, namely Romania, by using quarterly financial data, during the period 2000-2013. This topic is widely studied in the financial literature and seeks to provide an answer for the following questions: does economic growth influences the capital market, does capital market influences economic growth, or there is no connection between these variables. I have analyzed the long term relationship between economic growth and stock market for Romania, by applying Johansen cointegration test, Granger causality and Gregory Hansen cointegration test, which allows the presence of the structural breaks in the time series. The empirical results obtained highlighted that portfolio investments have a positive impact on economic growth and the GDP growth engages in turn, a long term positive capital markets return. The main conclusion of this study is that in the case of Romanian economy, is a bi-directional link between the economic growth and the capital market performance.

  11. Road infrastructure, spatial spillover and county economic growth

    Science.gov (United States)

    Hu, Zhenhua; Luo, Shuang

    2017-09-01

    This paper analyzes the spatial spillover effect of road infrastructure on the economic growth of poverty-stricken counties, based on the spatial Durbin model, by using the panel data of 37 poor counties in Hunan province from 2006 to 2015. The results showed that there is a significant spatial dependence of economic growth in Poor Counties. Road infrastructure has a positive impact on economic growth, and the results will be overestimated without considering spatial factors. Considering the spatial factors, the road infrastructure will promote the economic growth of the surrounding areas through the spillover effect, but the spillover effect is restricted by the distance factor. Capital investment is the biggest factor of economic growth in poor counties, followed by urbanization, labor force and regional openness.

  12. What Drives Economic Growth in Some CEE Countries?

    Directory of Open Access Journals (Sweden)

    Simionescu Mihaela

    2018-03-01

    Full Text Available Considering the potential factors that might generate economic growth, a target for any economy, this paper identified some determinants of economic growth in the countries from Central and Eastern Europe (CEE countries that are member states of the European Union. The foreign direct investment was the most important determinant of economic growth in most of the countries (Bulgaria, Slovenia, Estonia, Hungary, Romania, Poland, Latvia, Lithuania in the period 2003-2016, according to Bayesian bridge regressions. The indicators related to the level and the quality of labour resources proved to be insignificant in explaining the economic growth in these countries. Moreover, in Croatia, Estonia, Latvia, Lithuania, and Poland, the government expenditure on education had a negative effect on economic growth.

  13. Employment and Growth | Page 37 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Based on a survey of more than 400 women, this book exposes the ... Increasingly, the concept of "inclusive growth," where the benefits of economic growth are enjoyed ... of Global Health and Population, Harvard School of Public Health, USA.

  14. Pathways to Economic Security: Gender and Nonstandard Employment in Contemporary Japan

    Science.gov (United States)

    Gottfried, Heidi

    2008-01-01

    Compiling data from several government surveys, this article identifies key social indicators of economic security associated with nonstandard employment in Japan. Empirical trends of nonstandard employment are contextualized in the development of Japanese coordinated capitalism from the economic boom during the 1960s through the recession of the…

  15. Accounting for household heterogeneity in general equilibrium economic growth models

    International Nuclear Information System (INIS)

    Melnikov, N.B.; O'Neill, B.C.; Dalton, M.G.

    2012-01-01

    We describe and evaluate a new method of aggregating heterogeneous households that allows for the representation of changing demographic composition in a multi-sector economic growth model. The method is based on a utility and labor supply calibration that takes into account time variations in demographic characteristics of the population. We test the method using the Population-Environment-Technology (PET) model by comparing energy and emissions projections employing the aggregate representation of households to projections representing different household types explicitly. Results show that the difference between the two approaches in terms of total demand for energy and consumption goods is negligible for a wide range of model parameters. Our approach allows the effects of population aging, urbanization, and other forms of compositional change on energy demand and CO 2 emissions to be estimated and compared in a computationally manageable manner using a representative household under assumptions and functional forms that are standard in economic growth models.

  16. Employment and Growth | Page 36 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Emploi et croissance. Language English. Read more about Promoting Entrepreneurship Research in Southeast Asia: Applying the Global Entrepreneurship Monitor. Language English. Read more about Greening Small and Medium Enterprises: Its Impact on Competitiveness and Employment.

  17. Economic growth factors system: theoretical and methodological aspect

    OpenAIRE

    H.Ya. Hlukha

    2014-01-01

    The aim of the article. The main objective of the article is to create theoretical grounds to build the system of economic growth factors, to modernize their classification, to define exogenous and endogenous factors, to analyze them within the state economic policy structure. The results of the analysis. The article focuses on economic growth factors theoretical studies: - economic growth factors classification characteristics have been highlighted; - various approaches to determine...

  18. What are the "ingredients" for economic growth?

    OpenAIRE

    Wolla, Scott A.

    2013-01-01

    Is there a recipe for economic growth? Perhaps some Miracle-Gro for the economy? If only it were that easy. While the exact recipe is a mystery, economists have identified some of the key ingredients. This month’s newsletter discusses the role that economic institutions play in fostering long-term economic growth.

  19. Economic Growth, Electricity Consumption, Labor Force and Capital Input: A More Comprehensive Analysis on North China Using Panel Data

    Directory of Open Access Journals (Sweden)

    Huiru Zhao

    2016-10-01

    Full Text Available Over the past three decades, China’s economy has witnessed remarkable growth, with an average annual growth rate over 9%. However, China also faces great challenges to balance this spectacular economic growth and continuously increasing energy use like many other economies in the world. With the aim of designing effective energy and environmental policies, policymakers are required to master the relationship between energy consumption and economic growth. Therefore, in the case of North China, a multivariate model employing panel data analysis method based on the Cobb-Douglas production function which introduces electricity consumption as a main factor was established in this paper. The equilibrium relationship and causal relationship between real GDP, electricity consumption, total investment in fixed assets, and the employment were explored using data during the period of 1995–2014 for six provinces in North China, including Beijing City, Tianjin City, Hebei Province, Shanxi Province, Shandong Province and Inner Mongolia. The results of panel co-integration tests clearly state that all variables are co-integrated in the long term. Finally, Granger causality tests were used to examine the causal relationship between economic growth, electricity consumption, labor force and capital. From the Granger causality test results, we can draw the conclusions that: (1 There exist bi-directional causal relationships between electricity consumption and real GDP in six provinces except Hebei; and (2 there is a bi-directional relationship between capital input and economic growth and between labor force input and economic growth except Beijing and Hebei. Therefore, the ways to solve the contradiction of economic growth and energy consumption in North China are to reduce fossil energy consumption, develop renewable and sustainable energy sources, improve energy efficiency, and increase the proportion of the third industry, especially the sectors which

  20. Health, "illth," and economic growth: medicine, environment, and economics at the crossroads.

    Science.gov (United States)

    Egger, Garry

    2009-07-01

    Economic growth has been the single biggest contributor to population health since the Industrial Revolution. The growth paradigm, by definition, is dynamic, implying similar diminishing returns on investment at both the macro- and the micro-economic levels. Changes in patterns of health in developing countries, from predominantly microbial-related infectious diseases to lifestyle-related chronic diseases (e.g., obesity, type 2 diabetes) beyond a point of economic growth described as the epidemiologic transition, suggest the start of certain declining benefits from further investment in the growth model. These changes are reflected in slowing improvements in some health indices (e.g., mortality, infant mortality) and deterioration in others (e.g., disability-associated life years, obesity, chronic diseases). Adverse environmental consequences, such as climate change from economic development, are also related to disease outcomes through the development of inflammatory processes due to an immune reaction to new environmental and lifestyle-related inducers. Both increases in chronic disease and climate change can be seen as growth problems with a similar economic cause and potential economic and public health-rather than personal health-solutions. Some common approaches for dealing with both are discussed, with a plea for greater involvement by health scientists in the economic and environmental debates in order to deal effectively with issues like obesity and chronic disease.

  1. Energy efficiency, sustainability and economic growth

    International Nuclear Information System (INIS)

    Ayres, Robert U.; Turton, Hal; Casten, Tom

    2007-01-01

    This paper explores two linked theses related to the role energy in economic development, and potential sources of increased energy efficiency for continued growth with reduced greenhouse gas (GHG) emissions. The first thesis is that, while reduced GHG emissions are essential for long-term global sustainability, the usual policy recommendation of increasing energy costs by introducing a carbon tax may be relatively ineffective under current market structures and have an unnecessarily adverse impact on economic growth. Our second thesis is that there exists a practical near-term strategy for reducing GHG emissions while simultaneously encouraging continued technology-driven economic growth. Moreover, this strategy does not require radical new technologies, but rather improved regulation or-more precisely-better deregulation of the electric power sector. In respect to the first of our two theses, this paper addresses a deficiency in neoclassical economic growth theory, in which growth is assumed to be automatic, inevitable and cost-free. We challenge both the assumption that growth will continue in the future at essentially the same rate ('the trend') as it has in the past, and the corollary that our children's children will inevitably be richer and better able to afford the cost of repairing the environmental damages caused by current generations [Simon et al., The state of humanity. Cambridge MA: Blackwell Publishers Ltd.; 1995

  2. Revisiting the causal nexus between savings and economic growth in India: An empirical analysis

    Directory of Open Access Journals (Sweden)

    Suresh Kumar Patra

    2017-09-01

    Full Text Available This paper attempts to analyze the long run association between savings and growth; and investigates the causality issue in Indian context for the period 1950–51 to 2011–12. Firstly, the study identifies the structural break in the year 1980 by employing Bi-Perron test with unknown time. Further, it examines the association and the direction of causality between savings and real economic activity. The empirical evidence of the study suggests that savings boost the real activity both in the pre and post break period in the long run, while economic growth causes saving in the short run in the pre break period. Thus, the present study brings evidence in favour of the neoclassical exogenous and the post-neoclassical endogenous growth models and suggest that both the incentive-based measures and the productivity-based measures would be useful to generate higher savings and reinforce the acceleration of income and growth. JEL classification: E21, O4, C22, Keywords: Savings, Economic growth, Structural break, Palavras-chave: Poupança, Ggrowth econômico, Ruptura estrutural

  3. Employment Growth and International Trade

    DEFF Research Database (Denmark)

    Ibsen, Rikke; Warzynski, Frederic; Westergård-Nielsen, Niels Chr.

    In this paper, we use a detailed dataset containing information about all international trade transactions of the population of Danish ?rms over more than a decade to analyze the relationship between export and import decisions and employment growth. We further distinguish between imports of ?nal...

  4. Employment and Growth | Page 28 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Development Implications of Liberalization of Trade in Services. Language English. Read more about Micro Level Perspectives on Growth (Tanzania). Language English. Read more about Southern African Development Research Network. Language English.

  5. Education and Economic Growth in Nigeria: A Granger Causality ...

    African Journals Online (AJOL)

    FIRST LADY

    expenditures on education, primary school enrolment and economic growth. The tests revealed ..... force possessed a positive and significant impact on economic growth through factor ..... Export and Economic Growth in Namibia: A Granger ...

  6. Regional Economic Growth; Socio-Economic Disparities among Counties

    Directory of Open Access Journals (Sweden)

    Salih Özgür SARICA

    2014-12-01

    Full Text Available State level economy has always been relying on its major metropolitan area’s economic success. So, such metropolitan agglomerations have been considered the only agents that can foster the state’s economic standing as if other economic places do (or may not have significant contribution to the regional economy. In contrast, as some major cities enhance their economic well-being and agglomerate in specialized sector, the rest of the region lose their economic grounds or stay constant by widening the economic gap among cities. Therefore, an institutional approach can help to establish new regional arrangements to substitute all economic places to coordinate each other and succeed the economic growth as part of state government by reducing the disparities. In this sense, this study builds upon the inquiry that seeks the impacts of some economic disparities among economic places (counties on the performances of state level regional economy.

  7. Fiscal Policy and Economic Growth in Nigeria

    Directory of Open Access Journals (Sweden)

    Sylvia Uchenna Agu

    2015-11-01

    Full Text Available This article aims at determining the impact of various components of fiscal policy on the Nigerian economy. We simply used descriptive statistics to show contribution of government fiscal policy to economic growth, and to ascertain and explain growth rates, and an ordinary least square (OLS in a multiple form to ascertain the relationship between economic growth and government expenditure components after ensuring data stationarity. Findings revealed that total government expenditures have tended to increase with government revenue, with expenditures peaking faster than revenue. Investment expenditures were much lower than recurrent expenditures evidencing the poor growth in the country’s economy. Hence, there is some evidence of positive correlation between government expenditure on economic services and economic growth. Therefore, in public spending, it is important to note that the effectiveness of the private sector depends on the stability and predictability of the public incentive framework, which promotes or crowds out private investment.

  8. Institutions, Technological Change and Economic Growth

    Directory of Open Access Journals (Sweden)

    David Corderí Novoa

    2005-01-01

    Full Text Available Theories of economic growth try to explain variations in per capita income across countries by differences in capital accumulation and productivity. However, many scholars consider that integrating institutions into economic theory and economic history is an essential step in improving explanations of why some societies are richer than others. This paper develops the empirical and theoretical case that differences in institutions are the fundamental cause of differences in technological change (productivity, hence in economic growth. First, I give a definition of institutions and how they influence economic performance, from a New Institutional Economics point of view. Then, I introduce the theoretical framework based on the economics of ideas and endogenous growth models. Finally, I argue that R&D expenditures -a proxy for technological change- will vary across countries depending on some measures of institutional quality. In the end, this paper finds that stronger institutions (measured by an aggregate of institutional quality encourage greater R&D expenditures. At a disaggregate level, the rule of law is positively correlated and the regulatory burden is negatively correlated with R&D expenditures. Human capital level (measured by the tertiary and primary school enrolment rates has also a significant positive impact in R&D expenditures.

  9. ANALYSIS OF FACTORS WHICH AFFECTING THE ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Suparna Wijaya

    2017-03-01

    Full Text Available High economic growth and sustainable process are main conditions for sustainability of economic country development. They are also become measures of the success of the country's economy. Factors which tested in this study are economic and non-economic factors which impacting economic development. This study has a goal to explain the factors that influence on macroeconomic Indonesia. It used linear regression modeling approach. The analysis result showed that Tax Amnesty, Exchange Rate, Inflation, and interest rate, they jointly can bring effect which amounted to 77.6% on economic growth whereas the remaining 22.4% is the influenced by other variables which not observed in this study. Keywords: tax amnesty, exchange rates, inflation, SBI and economic growth

  10. Environmental support, energy security and economic growth in Japan

    International Nuclear Information System (INIS)

    Gasparatos, Alexandros; Gadda, Tatiana

    2009-01-01

    This study investigates the resource consumption of Japanese society since 1979 and its subsequent effects on the economic output of the nation and the environment. In order to quantify resource appropriation and trends in production and consumption, the concept of emergy synthesis is employed. Our results show a significant increase in the total amount of emergy consumed by 66.9% between 1979 and 2003 which comes hand in hand with an increase in the level of environmental stress by 93.7% (quantified as the environmental loading ratio). On the other hand the emergy required to produce 1 USD of economic output has been gradually decreasing which denotes an increase in the efficiency of the conversion of natural capital into economic output. What is most interesting though is the growing dependence of the Japanese economy on imported emergy, increasingly from developing nations, that severely affects the potential for unhindered economic growth. This can prove to be a big barrier that could affect the resource security of the Japanese economy and render it susceptible to risks associated with access to natural resources which in turn can jeopardise its long-term economic sustainability.

  11. Employment and Growth | Page 42 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Emploi et croissance. Language English. Read more about Growing Informal Cities: Mobile Entrepreneurs and Inclusive Growth in South Africa, Mozambique, and Zimbabwe. Language English. Read more about Scaling Up Financial Inclusion for Vulnerable Women and Youth: Proyecto Capital.

  12. Employment and Growth | Page 49 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Emploi et croissance. Language English. Read more about Development Implications of Liberalization of Trade in Services. Language English. Read more about Micro Level Perspectives on Growth (Tanzania). Language English. Read more about Southern African Development Research ...

  13. Economic Growth and the Environment. An empirical analysis

    Energy Technology Data Exchange (ETDEWEB)

    De Bruyn, S.M.

    1999-12-21

    A number of economists have claimed that economic growth benefits environmental quality as it raises political support and financial means for environmental policy measures. Since the early 1990s this view has increasingly been supported by empirical evidence that has challenged the traditional belief held by environmentalists that economic growth degrades the environment. This study investigates the relationship between economic growth and environmental quality and elaborates the question whether economic growth can be combined with a reduced demand for natural resources. Various hypotheses on this relationship are described and empirically tested for a number of indicators of environmental pressure. The outcome of the tests advocates the use of alternative models for estimation that alter conclusions about the relationship between economic growth and the environment and give insight into the driving forces of emission reduction in developed economies. refs.

  14. Urban population and economic growth: South Asia perspective

    Directory of Open Access Journals (Sweden)

    Sandip Sarker

    2016-07-01

    Full Text Available Previously economic growth was generally discussed in terms of foreign direct investment (FDI, educational growth, savings, investments, inflation as well as trade openness of a nation. Very recently it has been identified that population is one of the major determinants of economic growth of a nation. In the recent years, the study of urbanization has gained a matter of concern in developing countries as it has been recognized as part of a larger process of economic development which is affecting developing countries. South Asian countries are one of the emerging economics and growing at a faster rate over the past few years. At the same time, population of South Asia is growing at a significant rate. Therefore the study has attempted to identify the causal relationship between urban population and economic growth in South Asia using a panel data analysis. The study makes use of the Augmented Dickey-Fuller (ADF and Phillips-Perron (PP, Pesaran as well as Fisher methods for panel unit root test. The panel Pedroni cointegration test suggests that there is long run relationship between the variables. The further panel Vector Error Correction Model (VECM suggests that there is long run causality running from urban population growth to economic growth in South Asia. The study concludes that the growth of urban population can have significant impact on economic growth in South Asia in the long run.

  15. Taxes and the economy: A survey of the impact of taxes on growth, employment, investment, consumption and the environment

    NARCIS (Netherlands)

    Vermeend, W.; van der Ploeg, R.; Timmer, J.W.

    2008-01-01

    This book discusses the impact of taxation on economic growth, employment, investment, consumption and the environment. The public finance literature commonly distinguishes between three major functions of taxation: the traditional function of raising revenue to finance government expenditure; the

  16. Human Capital Investment and Economic Growth in Nigeria ...

    African Journals Online (AJOL)

    Human Capital Investment and Economic Growth in Nigeria. ... relationship between investment in education, health and economic growth in Nigeria, ... in order to accelerate growth and liberate Nigerians from the vicious cycle of poverty, the ...

  17. Foreign acquisition, plant survival, and employment growth

    DEFF Research Database (Denmark)

    Bandick, Roger; Görg, Holger

    This paper analyses the effect of foreign acquisition on survival probability and employment growth of target plant using data on Swedish manufacturing plants during the period 1993-2002.  An improvement over previous studies is that we take into account firm level heterogeneity by separating...... the lifetime of the acquired plants only if the plant was an exporter.  The effect differs depending on whether the acquisition is horizontal or vertical.  We also find robust positive employment growth effects only for exporters, and only if the takeover is vertical, not horizontal....

  18. Economic growth and poverty alleviation in Africa - linking hard and soft economics

    DEFF Research Database (Denmark)

    Kuada, John

    2014-01-01

    soft and hard economics, arguing that economic growth must be converted into social change that benefits poor for it to be described as development-oriented. It provides a direction for future research into issues of economic growth and poverty alleviation in Sub-Sahara Africa......This paper provides a quick glance at the dominant issues that have characterized the development economics debate during the past five decades. It is based on a review of a selection of literature that highlights the dominant perspectives in development economics. It draws a distinction between...

  19. Exports, capital formation and economic growth in South Africa ...

    African Journals Online (AJOL)

    In South Africa the export sector is frequently accorded a special role in encouraging faster economic growth. Nonetheless, a question that remains unresolved is whether higher export growth indeed leads to higher economic growth and what particular role exports may play within the overall economic growth process of the ...

  20. NIGERIA’S ECONOMIC GROWTH THROUGH TOURISM PROMOTION/SUSTAINABILITY

    Directory of Open Access Journals (Sweden)

    Victor N. ITUMO

    2017-08-01

    Full Text Available Nigeria is currently facing economic growth and development challenge. The economic challenge is occasioned by mono-cultural economic reliance on the single resource of crude oil export revenue as well as other internal and international effects that affect her economic drive for heightened growth and development. The Nigerian government had over the years searched for ways of diversifying its economy for greater growth and development especially given the various challenges in the economy, mainly the steep reduction in crude oil revenue arising from volatility of global oil price. This paper therefore uses the research methodology of case study to do a holistic assessment of the possibility of Nigeria diversifying into her tourism potentials for economic growth and development. This would be done equally by drawing relevant comparative analysis of other countries bringing economic benefits in Africa and across the globe.

  1. Electrification, economic growth and uranium power

    International Nuclear Information System (INIS)

    Starr, C.

    1982-01-01

    It is argued that the expanded use of nuclear power is essential to provide a substantial portion of the electricity necessary for world economic growth. However, obstacles to this growth arise not from the technology but rather from the inadequacies of our industrial, political, and economic institutions needed to manage this new energy system effectively, nationally and internationally. (U.K.)

  2. Employment and Growth | Page 27 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Globalization, Adjustment and the Challenge of Inclusive Growth (Indonesia, Philippines and Viet Nam). Language English. Read more about Microfinance and reducing poverty in Central Africa. Language English. Read more about Asia-Pacific Research and ...

  3. Foreign direct investment and economic growth: A theoretical framework

    Directory of Open Access Journals (Sweden)

    Edmore Mahembe

    2014-05-01

    Full Text Available The relationship between FDI and economic growth has attracted considerable attention over the years. Despite the important role played by FDI in economic growth, a number of policy-makers have not fully understood the theoretical linkage between FDI and economic growth. The aim of this paper, therefore, is to review the theoretical literature on the relationship between FDI and economic growth in a stylized fashion. The theoretical literature reviewed in this study show that FDI is a key contributor to the economic growth of the host country. FDI affects economic growth through two broad channels: (i FDI can encourage the adoption of new technologies in the production process through technological spillovers; and (ii FDI may stimulate knowledge transfers, both in terms of labour training and skill acquisition, and also by introducing alternative management practices and better organisational arrangements.

  4. Dynamic linkages between road transport energy consumption, economic growth, and environmental quality: evidence from Pakistan.

    Science.gov (United States)

    Danish; Baloch, Muhammad Awais

    2018-03-01

    The focus of the present research work is to investigate the dynamic relationship between economic growth, road transport energy consumption, and environmental quality. To this end, we rely on time series data for the period 1971 to 2014 in the context of Pakistan. To use sulfur dioxide (SO 2 ) emission from transport sector as a new proxy for measuring environmental quality, the present work employs time series technique ARDL which allows energy consumption from the transport sector, urbanization, and road infrastructure to be knotted by symmetric relationships with SO 2 emissions and economic growth. From the statistical results, we confirm that road infrastructure boosts economic growth. Simultaneously, road infrastructure and urbanization hampers environmental quality and causes to accelerate emission of SO 2 in the atmosphere. Furthermore, economic growth has a diminishing negative impact on total SO 2 emission. Moreover, we did not find any proof of the expected role of transport energy consumption in SO 2 emission. The acquired results directed that care should be taken in the expansion of road infrastructure and green city policies and planning are required in the country.

  5. Trade Liberalisation and Economic Growth in Macedonia

    Directory of Open Access Journals (Sweden)

    Mano-Bakalinov Viktorija

    2016-12-01

    Full Text Available The objective of this paper is to explore the effects of trade on Macedonian economic growth. The autoregressive distributed lag (ARDL model is applied on yearly data over the period of 1993-2014. Empirical investigation reveals that an increase of population and openness demonstrate a positive and significant effect on Macedonian economic growth. Given other diverging findings, this suggests that the relationship between trade reforms and growth through the productivity function may vary across transition economies. Nevertheless, the findings of this paper indicate that policies focusing on market liberalisation and opening the economy to trade have a positive effect on Macedonian economic growth, both in the short run and the long run.

  6. The contribution of foreign direct investment to clean energy use, carbon emissions and economic growth

    International Nuclear Information System (INIS)

    Lee, Jung Wan

    2013-01-01

    The paper investigates the contributions of foreign direct investment (FDI) net inflows to clean energy use, carbon emissions, and economic growth. The paper employs cointegration tests to examine a long-run equilibrium relationship among the variables and fixed effects models to examine the magnitude of FDI contributions to the other variables. The paper analyzes panel data of 19 nations of the G20 from 1971 to 2009. The test results indicate that FDI has played an important role in economic growth for the G20 whereas it limits its impact on an increase in CO 2 emissions in the economies. The research finds no compelling evidence of FDI link with clean energy use. Given the results, the paper discusses FDI's potential role in achieving green growth goals. - Highlights: ► FDI inflows strongly lead to economic growth in the G20. ► FDI inflows lead to an increase in energy use in the G20. ► FDI inflows are in no relation to CO 2 emissions in the G20. ► FDI inflows are in no relation to clean energy use in the G20. ► Economic growth is in negative relation to CO 2 emissions in the G20

  7. Effects of Credit on Economic Growth, Unemployment and Poverty

    OpenAIRE

    Sipahutar, Mangasa Augustinus

    2016-01-01

    Abstract               Effect of credit on economic growth, unemployment and poverty provides evidence from Indonesia on the role of banks credit for promoting economic growth and reducing both unemployment and poverty.  To document the link between banks credit and economic growth, we estimate a VAR model and variance decompositions of annual GDP per capita growth rates to examine what proxy measures of banks credit are most important in accounting for economic growth over time and ho...

  8. Employment and Growth | Page 23 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Multi-donor Research Platform on Social Protection, Financial Inclusion and ICTs. Language English. Read more about Impact of Foreign Direct Investment Flows on Poverty in Ghana. Language English. Read more about Labour Markets for Inclusive Growth ...

  9. TOURIST ARRIVALS AND ECONOMIC GROWTH IN SARAWAK

    OpenAIRE

    Lau, Evan; Oh, Swee-Ling; Hu, Sing-Sing

    2008-01-01

    This study empirically investigates the comovements and the causality relationship between tourist arrivals and economic growth in Sarawak during the period of 1972 to 2004. The empirical evidence clearly shows that the long run causality running from tourist arrivals to economic growth in the estimation period. As one of the income generator for Sarawak, the findings are consistent with economic theory and proffer important policy conclusions.

  10. The Key to Promoting Economic Growth

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    The low contribution of consumption to economic growth has become a source of anxiety for Chinese economic officials. With a sharp decline in exports as a result of the international financial crisis, the Chinese Government hopes that consumption will become a new engine of economic growth. The aim of promoting domestic demand is very clear in the 4-trillion-yuan ($586-billion) economic stimulus package the government approved last fall. How should we assess the present situation of consumption in China and its future course? At the Global Think Tank Summit held in Beijing on July 4, Ma Jiantang, Commissioner of the National Bureau of Statistics, Wang Guangqian, President of the Central University of Finance and Economics, and Yuan Yue, Chairman of the Board of Horizon Research Consultancy Group, shared their opinions.

  11. Problems of social and economic growth in the Kyrgyz Republic

    Directory of Open Access Journals (Sweden)

    Guseva Valentina Ivanovna

    2016-04-01

    Full Text Available In the article author explores the indirect influence of non-economic factors on the growth dynamics of the volume of GDP, including shows the effect of social problems on economic growth. It is proved that the existence of social problems have a negative impact on the pace of the economic dynamics of the country, due to the mutual dependence of key economic and non-economic factors of growth. On the one hand, the level of income of the population affects the purchasing power, which leads to the increase of the acceleration in economic growth. On the other hand, high levels of poverty and a deepening income inequality dictate political and social instability in society, which negatively affects the dynamics of economic growth. It was revealed that the feature of economic growth in the transitional economy is the negative impact of inflation and unemployment rates of economic dynamics, despite the fact that in most Western models, they are not considered as limiting growth factors.

  12. The impact and determinants of the energy paradigm on economic growth in European Union.

    Science.gov (United States)

    Andrei, Jean Vasile; Mieila, Mihai; Panait, Mirela

    2017-01-01

    Contemporary economies are strongly reliant on energy and analyzing the determining factors that trigger the changes in energy paradigm and their impact upon economic growth is a topical research subject. Our contention is that energy paradigm plays a major role in achieving the sustainable development of contemporary economies. In order to prove this the panel data methodology of research was employed, namely four panel unit root tests (LLC, IPS, F-ADF and F-PP) aiming to reveal the connections and relevance among 17 variables denoting energy influence on economic development. Moreover, it was introduced a specific indicator to express energy consumption per capita. Our findings extend the classical approach of the changes in energy paradigm and their impact upon economic growth and offer a comprehensive analysis which surpasses the practices and policy decisions in the field.

  13. Fiscal Transparency, Elections and Public Employment

    DEFF Research Database (Denmark)

    Aaskoven, Lasse

    2016-01-01

    There is considerable variation in levels and changes in public employment within and between developed democracies. This article highlights the importance of fiscal transparency in determining changes in public employment. It argues that economic growth increases public employment under low fiscal...

  14. Fourth-quarter Economic Growth and Time-varying Expected Returns

    DEFF Research Database (Denmark)

    Møller, Stig V.; Rangvid, Jesper

    not predict returns. Fourth-quarter economic growth rates contain considerably more information about expected returns than standard variables used in the literature, are robust to the choice of macro variable, and work in-sample, out-of-sample, and in subsamples. To help explain these results, we show...... that economic growth and growth in consumer confidence are correlated during the fourth quarter, but not during the other quarters: When economic growth is low during the fourth quarter, confidence in the economy is also low such that investors require higher future returns. We discuss rational and behavioral...... reasons why fourth-quarter economic growth, growth in consumer confidence, and expected returns are related....

  15. Inter-Regional Spillovers and Urban-Rural Disparity in U.S. Employment Growth

    OpenAIRE

    Hisamitsu Saito; Munisamy Gopinath; JunJie Wu

    2011-01-01

    A wide urban-rural disparity is observed in employment growth in the United States. For example, employment growth averaged 2.1 percent in urban counties during 1998-2007, compared with just 1 percent in rural counties. In this study, we examine the sources of U.S. employment growth using the county-level industry data. From an analytical labor-market model, we derive equilibrium employment growth as a function of growth in neighborhood characteristics and initial conditions such as accumulat...

  16. AFRICAN JOURNAL OF ECONOMIC REVIEW

    African Journals Online (AJOL)

    Dr Kazungu

    aside labour and capital have been identified as the determinants of growth. ... employment and productivity, development in human capabilities and social safety ... Employment. Poverty. Reduction. Inequality. Reduction. Economic. Growth.

  17. DETERMINANTS OF ECONOMIC GROWTH

    OpenAIRE

    Bartosz Totleben

    2013-01-01

    The article is examines the impact of macroeconomic indicators, in particular: human capital, government spending, innovation, political and social stability, on economic growth. In total 12 different indicators describing the economical, political and social conditions are taken into account. The study considers 102 countries between years 1960 and 2012 and two methods of estimation are performed: generalized method of moments (GMM) and fixed effects (FE). The results show the positive impac...

  18. Information and communication technology use and economic growth.

    Science.gov (United States)

    Farhadi, Maryam; Ismail, Rahmah; Fooladi, Masood

    2012-01-01

    In recent years, progress in information and communication technology (ICT) has caused many structural changes such as reorganizing of economics, globalization, and trade extension, which leads to capital flows and enhancing information availability. Moreover, ICT plays a significant role in development of each economic sector, especially during liberalization process. Growth economists predict that economic growth is driven by investments in ICT. However, empirical studies on this issue have produced mixed results, regarding to different research methodology and geographical configuration of the study. This paper examines the impact of Information and Communication Technology (ICT) use on economic growth using the Generalized Method of Moments (GMM) estimator within the framework of a dynamic panel data approach and applies it to 159 countries over the period 2000 to 2009. The results indicate that there is a positive relationship between growth rate of real GDP per capita and ICT use index (as measured by the number of internet users, fixed broadband internet subscribers and the number of mobile subscription per 100 inhabitants). We also find that the effect of ICT use on economic growth is higher in high income group rather than other groups. This implies that if these countries seek to enhance their economic growth, they need to implement specific policies that facilitate ICT use.

  19. Income taxes, public fiscal policy and economic growth

    Directory of Open Access Journals (Sweden)

    Tomasz Wołowiec

    2014-12-01

    Full Text Available The main goal of this article is to find the relationship between public fiscal policy and economic growth. The article consist of a few parts. The first is an introduction, which creates the background for the analysis in the following sections. It shows the main point of view on public fiscal policy especially in the case of personal income tax and creates a framework for the analysis of the relationship between taxation and economic growth. The second part focuses on the relations between central government decisions on taxation and its influence on savings, investments and economic growth. In this part we will find selected analyses of the impact of taxes on economic growth based on the examples of OECD countries. Finally, the last part of the work is a study on fiscal level and tax system structures and economic growth. In this part the authors checks two points of view on taxation. The first is that a low level tax burden is conducive to economic growth, and the second emphasizes negative consequences of decreasing budget tax revenues. The article shows both theoretical and empirical points of view on taxation and influence of government taxation decisions on the economy.

  20. Information and communication technology use and economic growth.

    Directory of Open Access Journals (Sweden)

    Maryam Farhadi

    Full Text Available In recent years, progress in information and communication technology (ICT has caused many structural changes such as reorganizing of economics, globalization, and trade extension, which leads to capital flows and enhancing information availability. Moreover, ICT plays a significant role in development of each economic sector, especially during liberalization process. Growth economists predict that economic growth is driven by investments in ICT. However, empirical studies on this issue have produced mixed results, regarding to different research methodology and geographical configuration of the study. This paper examines the impact of Information and Communication Technology (ICT use on economic growth using the Generalized Method of Moments (GMM estimator within the framework of a dynamic panel data approach and applies it to 159 countries over the period 2000 to 2009. The results indicate that there is a positive relationship between growth rate of real GDP per capita and ICT use index (as measured by the number of internet users, fixed broadband internet subscribers and the number of mobile subscription per 100 inhabitants. We also find that the effect of ICT use on economic growth is higher in high income group rather than other groups. This implies that if these countries seek to enhance their economic growth, they need to implement specific policies that facilitate ICT use.

  1. Gender Factors and Inclusive Economic Growth: The Silent Revolution

    Directory of Open Access Journals (Sweden)

    Laura Cabeza-García

    2018-01-01

    Full Text Available The gender factors that trigger economic growth in both high- and low-income countries were investigated in this study. To address these gender factors, four characteristic dimensions of gender inclusion were considered: education, access to the labor market, fertility, and democracy. The relationship between economic growth and gender factors was analyzed in a sample of 127 countries. Value and robustness were added to the results using dynamic models applied to panel data while accounting for endogeneity. We conclude that high fertility in women has negative effects on economic growth. However, when women have greater access to secondary education and the labor market in conditions of equality, the effects are positive. Similarly, the access of women to active political participation has significant effects on economic growth. Overall, this study helps identify which gender factors may promote inclusive economic growth, which is economic growth achieved when both men and women are incorporated in equal conditions.

  2. Employment Policies for a Green Economy at the European Union Level

    Directory of Open Access Journals (Sweden)

    Diana Mihaela Pociovălișteanu

    2015-07-01

    Full Text Available Sustainable economic development requires ensuring economic growth and development in terms of environmental protection by providing a bridge between sustainable economic growth, improvement in human health, social justice, employment and environmental protection. Our paper aims to study the situation of green jobs at the European Union level and the relationship between environment and employment, by analysing the link between employment and environmental policies. It highlights the main trends recorded at the European Union level in the field of employment policy to promote green jobs for sustainable economic development. Although there is little effect from environmental policies on employment, the effects are positive, which shows that the relationship between environmental and employment policy should be continued and improved by measures taken at both the macro- and microeconomic levels.

  3. Parameters of Economic Growth in Kosovo

    Directory of Open Access Journals (Sweden)

    Shkumbin Misini

    2016-01-01

    Full Text Available This paper analysis the macroeconomic components that influenced macroeconomic growth in a country, more concretely, the focus will be on the measurement of components that affected economic growth under nominal GDP, in Kosovo. We intend to found out which component of nominal GDP has the biggest and the lowest influence on economic growth. Thus, in order to measure it, GDP components must be analysed: consumption measurement, investments measurement, government expenditures measurement and export measurement. These parameters will be measured by analysing their importance in relation to one another, and the major influence on the growth of nominal GDP. The paper includes a graphic analysis of nominal GDP in relation to consumption, investments, governmental expenses and export.

  4. Employment and Growth | Page 12 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Labour, Growth, Equity, and Structural Reforms in Post-Secession Sudan. Language English. Read more about Accroissement de l'autonomisation économique des femmes par l'amélioration des politiques en Amérique latine. Language French. Read more ...

  5. THE IMPACT OF LOGISTICS INDUSTRY ON ECONOMIC GROWTH: AN APPLICATION IN OECD COUNTRIES

    Directory of Open Access Journals (Sweden)

    Sevgi Sezer

    2017-02-01

    Full Text Available The most significant elements that enable us to understand economic growth and development levels of nations are economic indicators of the country of interest. As much as these indicators have positive and high values, they affect the economic, social, psychological and cultural texture of the nation positively. These effects increase the culture, living and welfare levels of the individuals in the society. Logistics is one of the tools that play an important role in the change and improvement of economic indicators. Logistics industry provides significant macro contributions to national economy by creating employment, and creating national income and foreign investment influx. On the micro scale, logistics industry is a key industry in increasing the competitive power of corporations. Furthermore, the logistics industry has an important mission in revitalizing and improvement of the competitiveness of other industries. Today, all industries are dependent on logistics sector. The present study aimed to investigate how the logistics variables of transportation and communication affected economic growth in 34 OECD countries. The effect of both transportation industry variables and communication industry variables that form the logistics industry on the increase in per capita income in OECD countries was identified.

  6. Public Debt, Corruption and Sustainable Economic Growth

    Directory of Open Access Journals (Sweden)

    Eunji Kim

    2017-03-01

    Full Text Available There are many studies that look into the relationship between public debt and economic growth. It is hard to find, however, research addressing the role of corruption between these two variables. Noticing this vacancy in current literature, we strive to investigate the effect of corruption on the relationship between public debt and economic growth. For this purpose, the pooled ordinary least squares (OLS, fixed effects models and the dynamic panel generalized method of moments (GMM models (Arellano-Bond, 1991 are estimated with data of 77 countries from 1990 to 2014. The empirical results show that the interaction term between public debt and corruption is statistically significant. This confirms the hypothesis that the effect of public debt on economic growth is a function of corruption. The sign of the marginal effect is negative in corrupt countries, but public debt enhances economic growth within countries that are not corrupt, i.e., highly transparent.

  7. Employment Challenges in Kenya | Omolo | African Journal of ...

    African Journals Online (AJOL)

    Kenya's employment challenge is manifested in terms of a 12.7 per cent open unemployment rate, 21 per cent underemployment and a working poor estimated at 46 per cent of the employed. ... To reverse the trend in slow employment growth, Kenya must focus on ensuring high and sustained economic growth. In addition ...

  8. Accessibility, location, and employment center growth.

    Science.gov (United States)

    2015-03-01

    The purpose of this research is to examine the relationship between accessibility and the : growth of employment centers in order to improve our understanding of how transportation : investments influence the spatial organization of metropolitan area...

  9. Financial Development Following Economic Growth: The Chinese Case

    Directory of Open Access Journals (Sweden)

    Chan il Park

    2003-06-01

    Full Text Available The purpose of this paper is to investigate the relationship between financial development and economic growth based on Chinese experiences during the period of 1979~2000. This study places more emphasis on the causality running from economic growth to financThe purpose of this paper is to investigate the relationship between financial development and economic growth based on Chinese experiences during the period of 1979~2000. This study places more emphasis on the causality running from economic growth to financial development contrary to the mainstream view, which asserts that the well-functioning financial systems exert a large positive impact on economic growth via two channels- capital accumulation and technological innovations. The reverse causality is postulated by considering two factors in developments of the country's financial system. Firstly, this paper argues that the rapid accumulation of financial assets and the remarkable expansion of the financial system during the examined period are due primarily to income rises and changes in industrial structures rather than inefficient financial reforms. Secondly, it is recognized in this study that various financial reform measures undertaken by the state since 1994 are emerged endogenously in response to Chinese financial disorders and macroeconomic imbalances built up during the 1979~93 period. This line of thinking is not following the mainstream view in which financial reforms are regarded as policy variables (or exogenous variables in promoting economic growth. These two factors imply that the causality may run from economic growth to financial development at least in China.

  10. Sociopolitical Instability and Economic Growth Empirical Evidence from Sri Lanka

    OpenAIRE

    Changsheng Xu; Santhirasegaram Selvarathinam; Wen X. Li

    2007-01-01

    Sociopolitical instability severely affects economic growth in short and long run. This study analyzes that sociopolitical instability measured by proxy measure; annual growth rate of tourist arrivals in Sri Lanka during 1960-2005 adversely affects economic growth. Our empirical findings based on ordinary lease square econometric estimation, show that sociopolitical instability negatively and significantly affect economic growth. Reduction of economic growth rate (-0.032) due to the sociopoli...

  11. The South African tax mix and economic growth

    OpenAIRE

    AH de Wet; NJ Schoeman; SF Koch

    2014-01-01

    The research reported in this paper suggests that government fiscal policy can influence economic growth through alterations in the tax mix and the overall size of government spending.   The authors estimate the impact on economic growth of changes in fiscal policy via government expenditure, direct taxation and indirect taxation.  The results show that economic growth is negatively affected by increases in the size of government, as reflected in its expenditures and direct tax revenues, alth...

  12. FINANCIAL INTERMEDIATION, ENTREPRENEURSHIP AND ECONOMIC GROWTH

    OpenAIRE

    Wenli Cheng

    2007-01-01

    This paper presents a simple general equilibrium model of financial intermediation, entrepreneurship and economic growth. In this model, the role of financial intermediation is to pool savings and to lend the pooled funds to an entrepreneur, who in turn invests the funds in a new production technology. The adoption of the new production technology improves individual real income. Thus financial intermediation promotes economic growth through affecting individuals’ saving behaviour and enabl...

  13. Economic Growth and Sustainable Housing: An Uneasy Relationship

    DEFF Research Database (Denmark)

    Buch-Hansen, Hubert

    2017-01-01

    Book review of: "Economic Growth and Sustainable Housing: An Uneasy Relationship" by Jin Xue (Routledge, 2014)......Book review of: "Economic Growth and Sustainable Housing: An Uneasy Relationship" by Jin Xue (Routledge, 2014)...

  14. Nuclear energy consumption and economic growth in nine developed countries

    International Nuclear Information System (INIS)

    Wolde-Rufael, Yemane; Menyah, Kojo

    2010-01-01

    This article attempts to test the causal relationship between nuclear energy consumption and real GDP for nine developed countries for the period 1971-2005 by including capital and labour as additional variables. Using a modified version of the Granger causality test developed by Toda and Yamamoto (1995), we found a unidirectional causality running from nuclear energy consumption to economic growth in Japan, Netherlands and Switzerland; the opposite uni-directional causality running from economic growth to nuclear energy consumption in Canada and Sweden; and a bi-directional causality running between economic growth and nuclear energy consumption in France, Spain, the United Kingdom and the United States. In Spain, the United Kingdom and the USA, increases in nuclear energy consumption caused increases in economic growth implying that conservation measures taken that reduce nuclear energy consumption may negatively affect economic growth. In France, Japan, Netherlands and Switzerland increases in nuclear energy consumption caused decreases in economic growth, suggesting that energy conservation measure taken that reduce nuclear energy consumption may help to mitigate the adverse effects of nuclear energy consumption on economic growth. In Canada and Sweden energy conservation measures affecting nuclear energy consumption may not harm economic growth.

  15. Further evidence on the relationship between economic freedom and economic growth

    NARCIS (Netherlands)

    De Haan, J; Siermann, CLJ

    Often it is maintained that economic freedom may further high levels of economic growth. Using various measures of economic freedom constructed by Scully and Slottje, the robustness of this relationship is examined. Both direct and indirect effects of lack of liberties are analysed. Our main

  16. MULTIREGION: a simulation-forecasting model of BEA economic area population and employment. [Bureau of Economic Analysis

    Energy Technology Data Exchange (ETDEWEB)

    Olsen, R.J.; Westley, G.W.; Herzog, H.W. Jr.; Kerley, C.R.; Bjornstad, D.J.; Vogt, D.P.; Bray, L.G.; Grady, S.T.; Nakosteen, R.A.

    1977-10-01

    This report documents the development of MULTIREGION, a computer model of regional and interregional socio-economic development. The MULTIREGION model interprets the economy of each BEA economic area as a labor market, measures all activity in terms of people as members of the population (labor supply) or as employees (labor demand), and simultaneously simulates or forecasts the demands and supplies of labor in all BEA economic areas at five-year intervals. In general the outputs of MULTIREGION are intended to resemble those of the Water Resource Council's OBERS projections and to be put to similar planning and analysis purposes. This report has been written at two levels to serve the needs of multiple audiences. The body of the report serves as a fairly nontechnical overview of the entire MULTIREGION project; a series of technical appendixes provide detailed descriptions of the background empirical studies of births, deaths, migration, labor force participation, natural resource employment, manufacturing employment location, and local service employment used to construct the model.

  17. Employment without Growth

    DEFF Research Database (Denmark)

    Nørgaard, Jørgen

    work over more income and consumption. Lower work input to production can take many differnet forms, such as job sharing, lowering production efficiency, reduction in labor force, etc. In this light it seems ridiculous to argue for certain economic development course on the ground that it will create...... more work. There are no indication that growth at Western economies increases satisfaction or happiness. A new look at the full economy divides it into professional economy and amateur economy, and it is suggested that a reversal of the trend hitherto to draw still more of the whole economy...... into the professional sphere, GDP, could contribute at the same time to a better satisfaction and a more sustainable development....

  18. Linking Ethics and Economic Growth

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul

    2012-01-01

    Hunt (2012) builds on his work concerning ethics and resource-advantage theory to link personal ethical standards, societal norms, and economic growth but offers few details concerning the precise mechanisms that link ethics and growth. This comment suggests a number of such mechanisms – for exam...... – for example, the influence of prevailing ethical norms on the aggregate elasticity of substitution and, therefore, total factor productivity and growth....

  19. Money Supply, Interest Rate, and Economic Growth in Cameroon: A ...

    African Journals Online (AJOL)

    Money Supply, Interest Rate, and Economic Growth in Cameroon: A Time Series ... the impacts of money and interest rate on economic growth and development. ... Money Supply, Interest Rates, Economic growth, Co-integration and Inflation.

  20. Economic growth in a politically fragmented world

    Czech Academy of Sciences Publication Activity Database

    Jeong, Byeongju

    2014-01-01

    Roč. 42, č. 2 (2014), s. 402-416 ISSN 0147-5967 Institutional support: RVO:67985998 Keywords : economic integration * economic growth * intergenerational bargain Subject RIV: AH - Economics Impact factor: 1.170, year: 2014

  1. Institutions, Entrepreneurship, and Economic Growth

    DEFF Research Database (Denmark)

    Bjørnskov, Christian; Foss, Nicolai Juul

    2016-01-01

    sample limitations, omitted variable biases, causality issues, and response heterogeneity. We argue that theories in management research, such as the resource-based view, transaction cost economics, and strategic entrepreneurship theory, can fill some of the conceptual and theoretical gaps.......We review the literature that links institutions, entrepreneurship, and economic growth outcomes, focusing in particular on empirical research. Most of the literature has an economics orientation, but we also review relevant literature from other social sciences, including management research...

  2. Models of the Economic Growth and their Relevance

    Directory of Open Access Journals (Sweden)

    Nicolae MOROIANU

    2012-06-01

    Full Text Available Until few years ago, the economic growth was something perfect normal, part of an era marked by the transformation speed. Normality itself has been transformed and we currently are influenced by other rules, unknown yet, which should answer the question: “How do we return to the economic growth?” The economic growth and the models aiming to solve this problem concern the economic history even since its beginnings. In this paper we would like to find out what is the relevance that the well-known macroeconomic models still have and which might be their applicability level in a framework created by a black swan event type.

  3. Value function in economic growth model

    Science.gov (United States)

    Bagno, Alexander; Tarasyev, Alexandr A.; Tarasyev, Alexander M.

    2017-11-01

    Properties of the value function are examined in an infinite horizon optimal control problem with an unlimited integrand index appearing in the quality functional with a discount factor. Optimal control problems of such type describe solutions in models of economic growth. Necessary and sufficient conditions are derived to ensure that the value function satisfies the infinitesimal stability properties. It is proved that value function coincides with the minimax solution of the Hamilton-Jacobi equation. Description of the growth asymptotic behavior for the value function is provided for the logarithmic, power and exponential quality functionals and an example is given to illustrate construction of the value function in economic growth models.

  4. Economic growth in a politically fragmented world

    Czech Academy of Sciences Publication Activity Database

    Jeong, Byeongju

    2014-01-01

    Roč. 42, č. 2 (2014), s. 402-416 ISSN 0147-5967 Institutional support: PRVOUK-P23 Keywords : economic integration * economic growth * intergenerational bargain Subject RIV: AH - Economics Impact factor: 1.170, year: 2014

  5. Financial development and economic growth nexus in Russia

    Directory of Open Access Journals (Sweden)

    Shigeki Ono

    2017-09-01

    Full Text Available This paper examines the finance-growth nexus in Russia with the vector autoregression model, taking oil prices and foreign exchange rates into account. The analyzed period is from 1999 through 2008 (Subperiod 1 and from 2009 through 2014 (Subperiod 2. The results for Subperiod 1 suggest that there is causality from economic growth to money supply and bank lending, which implies demand-following responses. The results for Subperiod 2 show that economic growth Granger causes bank lending while there is no causality from money supply to economic growth, which could be related to the dramatic decrease in the amount of intervention in foreign exchange markets.

  6. Directed Technical Change and Economic Growth Effects of Environmental Policy

    DEFF Research Database (Denmark)

    Kruse-Andersen, Peter Kjær

    2016-01-01

    A Schumpeterian growth model is developed to investigate how environmental policy affects economic growth when environmental policy also affects the direction of technical change. In contrast to previous models, production and pollution abatement technologies are embodied in separate intermediate...... unambiguously directs research efforts toward pollution abatement technologies and away from production technologies. This directed technical change reduces economic growth and pollution emission growth. Simulation results indicate that even large environmental policy reforms have small economic growth effects....... However, these economic growth effects have relatively large welfare effects which suggest that static models and exogenous growth models leave out an important welfare effect of environmental policy....

  7. Greasing or sanding the wheels? Effect of corruption on economic growth in sub- Saharan Africa

    OpenAIRE

    Ibrahim, Muazu; Kumi, Emmanuel; Yeboah, Thomas

    2015-01-01

    Corruption is a pervasive challenge confronting the world more especially countries in sub-Saharan Africa. This paper investigates the effect of corruption on economic growth in the subregion using data spanning 1998 to 2011. By employing the pooled estimated generalized least squares (EGLS) and two stage least squares (2SLS), we find that corruption is inimical toeconomic growth through its indirect effect on gross fixed capital formation and labour force. The results are not only robust to ...

  8. The contribution of international trade to economic growth through human capital accumulation: Evidence from nine Asian countries

    Directory of Open Access Journals (Sweden)

    Mirajul Haq

    2014-12-01

    Full Text Available This study is an attempt to test the hypothesis “international trade contributes to economic growth through its effects on human capital accumulation.” To assess the hypothesis empirically, we employed the extended Neo-Classical growth model that reflects some features of the endogenous growth models. We thus ended up with a model in which the change in human capital is sensitive to change in trade policies. Unlike conventional approaches, the model serves to assess and determine the impact of international trade on the accumulation of human capital. The empirical analysis estimates dynamic panel growth equations by using a data-set of nine Asian countries, over the period 1972–2012. The overall evidence substantiates the fact that in countries under consideration, international trade enhances the accumulation of human capital and contributes to economic growth positively through human capital accumulation.

  9. EFFECTS OF THE ECONOMIC FREEDOMS ON THE ECONOMIC GROWTH: EVIDENCE FROM THE EU AND COMCEC COUNTRIES (1996-2015

    Directory of Open Access Journals (Sweden)

    HALİL İBRAHİM AYDIN

    2017-06-01

    Full Text Available In this research, the effects of the economic freedoms on the economic growth for EU and COMCEC countries at different development/income level are econometrically analyzed via panel data analysis for the period of 1996- 2014 by being considered the improvement of economic growth theories for the key determinants of economic growth. From this aspect, it is aimed at this research that to evaluate the effects of the economic freedoms on the long termed economic growth performances and income level differences of EU and COMCEC countries which have different statuses in terms of economic freedoms and income level indicators. It is determined at the end of the study that the economic freedoms have a positive and statistically significant effect on the economic growth of EU countries in investigation period, on the other hand, these freedoms have not any effect on the economic growth of COMCEC countries. Moreover, the existence of a one-way causality relation operates from economic freedoms to the economic growth in EU countries is specified while there is any causality link found between these freedoms and the economic growth for the countries in COMCEC group. All these results indicate that also the economic freedoms besides the physical human capital accumulation, in other words, whether the EU and COMCEC countries have a market economy adopts outward-oriented liberal fiscal policies plays a major role in differentiating the income levels or the economic growth performances.

  10. Role of vaccination in economic growth.

    Science.gov (United States)

    Quilici, Sibilia; Smith, Richard; Signorelli, Carlo

    2015-01-01

    The health of a population is important from a public health and economic perspective as healthy individuals contribute to economic growth. Vaccination has the potential to contribute substantially to improving population health and thereby economic growth. Childhood vaccination programmes in Europe can offer protection against 15 important infectious diseases, thus preventing child fatalities and any serious temporary and permanent sequelae that can occur. Healthy children are more able to participate in education, thus preparing them to become healthy and productive adults. Vaccination programmes can also prevent infectious diseases in adolescents, thus allowing them to continue their development towards a healthy adulthood. Protecting adults against infectious diseases ensures that they can fully contribute to productivity and economic development by avoiding sick leave and lower productivity. Vaccination in older adults will contribute to the promotion of healthy ageing, enabling them to assist their familiy with, for instance, childcare, and also help them avoid functional decline and the related impacts on health and welfare expenditure. Effective vaccination programmes for all ages in Europe will thus contribute to the European Union's 2020 health and economic strategies. Indeed, beyond their impact on healthcare resources and productivity, reductions in mortality and morbidity also contribute to increased consumption and gross domestic product. Therefore, assessment of the value of vaccines and vaccination needs to consider not just the direct impact on health and healthcare but also the wider impact on economic growth, which requires a macroeconomic analysis of vaccination programmes.

  11. Electricity consumption and economic growth in seven South American countries

    International Nuclear Information System (INIS)

    Yoo, Seung-Hoon; Kwak, So-Yoon

    2010-01-01

    This paper attempts to investigate the causal relationship between electricity consumption and economic growth among seven South American countries, namely Argentina, Brazil, Chile, Columbia, Ecuador, Peru, and Venezuela using widely accepted time-series techniques for the period 1975-2006. The results indicate that the causal nexus between electricity consumption and economic growth varies across countries. There is a unidirectional, short-run causality from electricity consumption to real GDP for Argentina, Brazil, Chile, Columbia, and Ecuador. This means that an increase in electricity consumption directly affects economic growth in those countries. In Venezuela, there is a bidirectional causality between electricity consumption and economic growth. This implies that an increase in electricity consumption directly affects economic growth and that economic growth also stimulates further electricity consumption in that country. However, no causal relationships exist in Peru. The documented evidence from seven South American countries can provide useful information for each government with regard to energy and growth policy.

  12. Competitiveness and Economic Growth in Romanian Regions

    Directory of Open Access Journals (Sweden)

    Simionescu Mihaela

    2016-12-01

    Full Text Available Considering the fact that Romanian economy competitiveness is not based on innovation and investment in human capital, this study makes an empirical evaluation of the impact of occupation and unemployment in Romanian counties on the economic growth. The approach based on panel vector-autoregressive (panel VAR models indicated a negative impact of occupation and activity rate in 42 Romanian counties on the economic growth during 2006-2014. On the other hand, the real economic growth was achieved at high unemployment rates. These results are contrary to previous studies in literature and are due to a structural economic crisis and to lack of labour productivity and investment in human capital. Further policy measures should focus on structural unemployment decrease, more skilled labour force according to labour market needs, lifelong learning, higher performance and quality of education system, promotion of social inclusion, poverty control.

  13. The South African tax mix and economic growth

    Directory of Open Access Journals (Sweden)

    AH de Wet

    2014-10-01

    Full Text Available The research reported in this paper suggests that government fiscal policy can influence economic growth through alterations in the tax mix and the overall size of government spending.   The authors estimate the impact on economic growth of changes in fiscal policy via government expenditure, direct taxation and indirect taxation.  The results show that economic growth is negatively affected by increases in the size of government, as reflected in its expenditures and direct tax revenues, although significant indirect tax effects are not found.

  14. Financial Management and Economic Growth: The European Countries Experience

    Directory of Open Access Journals (Sweden)

    Nuno Carlos LEITÃO

    2012-12-01

    Full Text Available The purpose of this research is to investigate the impact of financial development on economic growth applied to European Countries. The initial GDP per capita is negatively correlated with growth of real GDP per capita. Our study shows that there is convergence within European Countries for the period 1990-2009. This paper confirms relevant theoretical hypothesis as international trade and saving encourage the economic growth. The inflation has a negative impact on economic growth as previous studies.

  15. The Relationship Among Poverty, Economic Growth, and Inequality Revisited

    OpenAIRE

    Lonnie K. Stevans; David N. Sessions

    2008-01-01

    It has been shown in prior research that increased economic growth reduces poverty. Authors have also found that the effect of growth in Gross Domestic Product (GDP) on poverty growth has either diminished or remained unchanged over time, and economic expansion in the 1980s in the United States had no affect on poverty. Using a formal error-correction model, we find that increases in economic growth are significantly related to reductions in the poverty rate for all families. Specifically, GD...

  16. Stock market development and economic growth of Brazil, Russia, India, China and South African (BRICS Nations: An empirical research

    Directory of Open Access Journals (Sweden)

    Sunday Ogbeide

    2018-04-01

    Full Text Available BRICS connotes five main emerging national economies: Brazil, Russia, India, China and South Africa are particularly distinguished as nations experiencing expanded market opportunities and countries discovered to be at stages of newly advanced economic development. This paper assesses the stock market development and economic growth in these BRICS nations. In doing this, quarterly time series data from 1994 to 2014 was sourced from World Bank Indicators. The Panel Generalized method based on the fixed effect estimation was employed to determine how stock market development affects the economic growth of BRICS. Diagnostic tests were conducted to ascertain the robustness and stability of the regression results after carrying out the unit root calculations. The findings reveal that stock market development exerts significant impact on the economic growth. The study further reveals that there was a positive correlation between stock market development indicators and BRICS’s economic growth. It is therefore proposed that the weaknesses of each of the BRICS member countries should be taken as policy focus and strategies necessary to strengthen them should be swiftly applied by their respective governments.

  17. Employment status and mental health care use in times of economic contraction: a repeated cross-sectional study in Europe, using a three-level model.

    Science.gov (United States)

    Buffel, Veerle; van de Straat, Vera; Bracke, Piet

    2015-03-11

    Framed within the recent economic crisis, in this study we investigate the medical mental health care use of the unemployed compared with that of the employed in Europe, and whether the relationship between employment status and mental health care use varies across macro-economic conditions. We examine whether the macro-economic context and changes therein are related to mental health care use, via their impact on mental health, or more directly, irrespective of mental health. We use data from three waves of the Eurobarometer (2002, 2005/2006, and 2010), which has a repeated cross-sectional and cross-national design. Linear and logistic multilevel regression analyses are performed with mental health, contacting a general practitioner, and contacting a psychiatrist for mental health problems as dependent variables. The multilevel design has three levels (the individual, the period-country, and the country), which allows us to estimate both longitudinal and cross-sectional macro-effects. The macro-economic context and changes therein are assessed using national unemployment rates and growth rates in Gross Domestic Product (GDP). The mean unemployment rate is negatively related to mental health, although for women, this effect only applies to the employed. Among women, no relationship is found between changes in the macro-economic context and mental health. The unemployment rate, and changes in both the unemployment rate and the real GDP growth rate, are associated with men's care use, regardless of their mental health, whereas this does not hold for women. In countries with an increase in the unemployment rate, both unemployed and employed men tend to medicalize their problems more by contacting a general practitioner, irrespective of their mental health, while the likelihood of contacting a psychiatrist is lower among employed men. Our findings stress the importance of taking the macro-economic context and changes therein into account when studying the mental health

  18. Macroeconomic Determinants of Economic Growth: A Review of International Literature

    Directory of Open Access Journals (Sweden)

    Chirwa Themba G.

    2016-12-01

    Full Text Available The paper conducts a qualitative narrative appraisal of the existing empirical literature on the key macroeconomic determinants of economic growth in developing and developed countries. Much as other empirical studies have investigated the determinants of economic growth using various econometric methods, the majority of these studies have not distinguished what drives or hinders economic growth in developing or developed countries. The study finds that the determinants of economic growth are different when this distinction is used. It reveals that in developing countries the key macroeconomic determinants of economic growth include foreign aid, foreign direct investment, fiscal policy, investment, trade, human capital development, demographics, monetary policy, natural resources, reforms and geographic, regional, political and financial factors. In developed countries, the study reveals that the key macroeconomic determinants that are associated with economic growth include physical capital, fiscal policy, human capital, trade, demographics, monetary policy and financial and technological factors.

  19. Putting youth employment at the heart of growth | IDRC ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    2015-03-12

    Mar 12, 2015 ... Economic growth in the developing world has failed to generate enough ... IDRC supports innovative research on economic opportunities for ... Influencing policy through impact evaluation in Latin America and the Caribbean.

  20. Political Instability and Economic Growth

    OpenAIRE

    Alberto Alesina; Sule Ozler; Nouriel Roubini; Phillip Swagel

    1992-01-01

    This paper investigates the relationship between political instability and per capita GDP growth in a sample of 113 countries for the period 1950-1982. We define ?political instability? as the propensity of a government collapse, and we estimate a model in which political instability and economic growth are jointly determined. The main result of this paper is that in countries and time periods with a high propensity of government collapse, growth is significantly lower than otherwise. This ef...

  1. Economic Growth, Climate Change, and Obesity.

    Science.gov (United States)

    Minos, Dimitrios; Butzlaff, Iris; Demmler, Kathrin Maria; Rischke, Ramona

    2016-12-01

    Human and planetary health as well as economic growth are firmly interlinked and subject to complex interaction effects. In this paper, we provide an overview of interlinkages between economic growth, climate change, and obesity focusing on recent advances in the literature. In addition to empirical findings, we discuss different theoretical frameworks used to conceptualize these complex links and highlight policy options and challenges. We conclude that policies addressing both climate change and obesity simultaneously are particularly promising and often suitable for ensuring sustainable development.

  2. Business regulation and economic growth in the Western Balkan countries

    Directory of Open Access Journals (Sweden)

    Engjell PERE

    2013-06-01

    Full Text Available Actually economic policies in many countries aimed to stimulate their economic growth, particularly after negative impact of the global economic crisis. In this regards, fiscal regulation are an important aspect of those policies, that can promote or obstacle the economic growth in general. In this point of view this paper aims to analyze the system of administration rules in different Western Balkans Countries, (which includes Albania, Bosnia & Herzegovina, Croatia, Kosovo, Macedonia (FYROM, Montenegro and Serbia. Moreover, a special attention is given investigation of the regulation and administrative facilitation aspects of doing business in the above-mentioned countries, whether this system stimulates, or not, the development of private business and economic growth.The paper is divided into three main sections. The first part provides a retrospective of economic growth in the Western Balkan countries and the dependence of this growth on global economic development. The second part proceeds with the investigations of the impact of administrative regulation on economic growth. The third part, based on an econometric model, will analyze the correlation between economic growth and elaborated indicators which present the level of business administrative regulation system. Furthermore, this last section discusses the results and concludes. In this analysis, the paper is based substantially on the data base of "Doing Business 2013" (World Bank.

  3. The Impact of Regional Disparities on Economic Growth

    Directory of Open Access Journals (Sweden)

    Henryk Gurgul

    2011-01-01

    Full Text Available The authors investigated how economic growth affects the disparity in the distribution of regional income in Poland and vice versa. The research was based on annual data covering the period 2000-2009. In general, the research was divided into two main parts. First, the authors examined the evolution of the level of spatial inequalities in income in Poland over the last decade using the concepts of sigma and beta convergence. Next the nature of causal dependences was investigated between this inequality and economic growth. It was found that Polish regions did not converge with respect to the distribution of income as total GDP grew. The second part of the research provided evidence to claim that this inequality caused growth. Moreover, the evidence was also found that growth affected regional inequality. Finally, the authors noticed that the effects of both these factors were positive. The results suggest that as a consequence of rapid economic growth, some regions in Poland seized new opportunities, while less developed regions were unable to keep up with the challenging requirements of a decade of fast economic growth. (original abstract

  4. Poverty and Economic Growth in Swaziland: An Empirical Investigation

    Directory of Open Access Journals (Sweden)

    Angelique G. Nindi

    2015-03-01

    Full Text Available This paper examines the causal relationship between poverty reduction and economic growth in Swaziland during the period 1980–2011. Unlike some of the previous studies, the current study uses the newly developed ARDL-bounds testing approach to co-integration, and the ECM-based Granger causality method to examine this linkage. The study also incorporates financial development as a third variable affecting both poverty reduction and economic growth – thereby leading to a trivariate model. The results of this study show that economic growth does not Granger cause poverty reduction in Swaziland – either in the short run or in the long run. Instead, the study finds a causal flow from poverty reduction to economic growth in the short run. These findings, however, are not surprising, given the high level of income inequality in Swaziland. Studies have shown that when the level of income inequality is too high, economic growth alone may not necessarily lead to poverty reduction.

  5. Shocks in economic growth=shocking effects for food security?

    NARCIS (Netherlands)

    Kavallari, A.; Fellmann, T.; Hubertus Gay, H.

    2014-01-01

    The recent economic and financial turmoil raises the question on how global economic growth affects agricultural commodity markets and, hence, food security. To address this question, this paper assesses the potential impacts of faster economic growth in developed and emerging economies on the one

  6. Local Decentralisation and Economic Growth in Nigeria

    Directory of Open Access Journals (Sweden)

    Hammed Adetola Adefeso

    2014-06-01

    Full Text Available The current global drive towards devolution of financial resources and responsibilities has been increasingly justified on the basis that greater transfers of these financial resources and responsibilities to sub-central governments are theoretically expected to deliver greater economic efficiency in the provision of public goods and services and hence greater economic growth. There is a mixed result on these theoretical expectations across earlier empirical literatures. Using the instrumental variables (IV technique of analysis with the recent data from Nigeria for the period 1970-2013, this study found no robust significant effect of the decentralisation of spending or revenue on growth of real GDP per capital in Nigeria. The implication of this to the policy makers is that when it comes to the determinants of improved economic activities, decentralisation either fiscal expenditure or revenue side would not be instrumental to economic growth possibly because of existence of endemic corruption among politicians in Nigeria.

  7. Crisis in the habitat of the economic growth monster

    DEFF Research Database (Denmark)

    Urhammer, Emil

    2014-01-01

    This article is inspired by empirical philosophy and provides an analysis of economic growth as a monster that circulates within collectives. Using this approach, I illustrate how economic growth has participated in shaping institutions and language, thus having necessitated its own circulation...... to such an extent that it has become the most prioritised economic policy objective, whereas urgent issues regarding living conditions on Earth are either ignored or treated as secondary priorities. Further, I argue that noble attempts to contest economic growth contribute to the circulation of the monster...

  8. How crude oil consumption impacts on economic growth of Sub-Saharan Africa?

    International Nuclear Information System (INIS)

    Bashiri Behmiri, Niaz; Pires Manso, José R.

    2013-01-01

    This study investigates the causality relationship between crude oil consumption and economic growth in twenty three Sub-Saharan African countries. We applied a multivariate panel Granger causality framework during 1985–2011 and we included crude oil price as the control variable of the model. The results indicate that in the short-run, there is a bi-directional causality relationship between crude oil consumption and economic growth in oil importing region and there is a uni-directional causality relationship from crude oil consumption to GDP in oil exporting region. However, in the long-run there is a bi-directional causality relationship between them in both regions. Therefore, reducing crude oil consumption without employing appropriate policies adversely impacts on economic growth of Sub-Saharan Africa. Hence, in order to reduce crude oil dependency of the region policymakers should pay more attention to the issue of energy efficiency programs. - Highlights: ► We examined Granger causality among oil consumption and GDP in Sub-Saharan Africa. ► Crude oil price is the control variable of the model. ► There is short run bi-directional causality among oil and GDP (oil importing). ► There is short run uni-directional causality from oil to GDP (oil exporting). ► There is a long run bi-directional causality among oil and GDP in both regions

  9. The impact of CO2 emissions on economic growth: evidence from selected higher CO2 emissions economies.

    Science.gov (United States)

    Azam, Muhammad; Khan, Abdul Qayyum; Bin Abdullah, Hussin; Qureshi, Muhammad Ejaz

    2016-04-01

    The main purpose of this work is to analyze the impact of environmental degradation proxied by CO2 emissions per capita along with some other explanatory variables namely energy use, trade, and human capital on economic growth in selected higher CO2 emissions economies namely China, the USA, India, and Japan. For empirical analysis, annual data over the period spanning between 1971 and 2013 are used. After using relevant and suitable tests for checking data properties, the panel fully modified ordinary least squares (FMOLS) method is employed as an analytical technique for parameter estimation. The panel group FMOLS results reveal that almost all variables are statistically significant, whereby test rejects the null hypotheses of non cointegration, demonstrating that all variables play an important role in affecting the economic growth role across countries. Where two regressors namely CO2 emissions and energy use show significantly negative impacts on economic growth, for trade and human capital, they tend to show the significantly positive impact on economic growth. However, for the individual analysis across countries, the panel estimate suggests that CO2 emissions have a significant positive relationship with economic growth for China, Japan, and the USA, while it is found significantly negative in case of India. The empirical findings of the study suggest that appropriate and prudent policies are required in order to control pollution emerging from areas other than liquefied fuel consumption. The ultimate impact of shrinking pollution will help in supporting sustainable economic growth and maturation as well as largely improve society welfare.

  10. FISCAL POLICY'S INFLUENCE ON ECONOMIC GROWTH IN THE EUROPEAN UNION

    OpenAIRE

    MIHAIU Diana Marieta; OPREANA Alin

    2012-01-01

    In this paper we study the impact of the fiscal policy on the economic growth for European Union, for the period 2000-2009. This subject represents a very debated problem in the economic literature. Our findings shows that, from the analysis of correlation between economic growth rate and total rate of taxation, there is generally an inverse relationship, meaning that an increase in the tax rate adversely affects economic growth. Continuing the analysis of the correlation between economic gro...

  11. Review of capital investment in economic growth cycle

    Science.gov (United States)

    Shaffie, Siti Salihah; Jaaman, Saiful Hafizah; Mohamad, Daud

    2016-11-01

    The study of linkages of macroeconomics factors is prominent in order to understand how the economic cycle affects one another. These factors include interest rate, growth rate, saving and capital investment which are mutually correlated to stabilize the GDP. Part of this study, it will look upon the impact of investment which emphasize the efficiency of capital investment to the economic growth. Capital investment is one investment appraisal that gives impact to the economic growth. It is a long term investment and involve with large amount of capital to incorporate the development of private and public capital investment.

  12. BANKING SECTOR DEVELOPMENT AND ECONOMIC GROWTH INPALESTINE; 1995-2014

    Directory of Open Access Journals (Sweden)

    Gaber H. Abugamea

    2016-07-01

    Full Text Available This study uses both OLS regression estimation and Granger Causality test toinvestigate the relationship between the banking sector development andeconomic growth in Palestine over the period 1995-2014.OLS results show asignificant impact of banking size with a negative sign, insignificant impact ofcredit lending with a marginal one for lag credit andinsignificant impact ofefficiency on economic growth, respectively.Granger Causality testresultsshowone way causality runningfrom banking size to(GDPeconomic growthandfrom banking efficiency to(GDP per capitaeconomic growth one. Overall resultsreveals a weak nexus between banking sector development and economic growth.In specific, it recommends more improving in banking lending policy to beeffective in promoting economic growth.

  13. Energy consumption and economic growth relationship: Evidence from panel data for low and middle income countries

    International Nuclear Information System (INIS)

    Ozturk, Ilhan; Aslan, Alper; Kalyoncu, Huseyin

    2010-01-01

    This paper uses the panel data of energy consumption (EC) and economic growth (GDP) for 51 countries from 1971 to 2005. These countries are divided into three groups: low income group, lower middle income group and upper middle income group countries. Firstly, a relationship between energy consumption and economic growth is investigated by employing panel cointegration method. Secondly, panel causality test is applied to investigate the way of causality between the energy consumption and economic growth. Finally, we test whether there is a strong or weak relationship between these variables by using method. The empirical results of this study are as follows: i) Energy consumption and GDP are cointegrated for all three income group countries. ii) The panel causality test results reveal that there is long-run Granger causality running from GDP to EC for low income countries and there is bidirectional causality between EC and GDP for middle income countries. iii) The estimated cointegration factor, β, is not close to 1. In other words, no strong relation is found between energy consumption and economic growth for all income groups considered in this study. The findings of this study have important policy implications and it shows that this issue still deserves further attention in future research.

  14. Does Economic Growth Reduce Childhood Undernutrition in Ethiopia?

    Science.gov (United States)

    Biadgilign, Sibhatu; Shumetie, Arega; Yesigat, Habtamu

    2016-01-01

    Policy discussions and debates in the last couple of decades emphasized efficiency of development policies for translating economic growth to development. One of the key aspects in this regard in the developing world is achieving improved nutrition through economic development. Nonetheless, there is a dearth of literature that empirically verifies the association between economic growth and reduction of childhood undernutrition in low- and middle-income countries. Thus, the aim of the study is to assess the interplay between economic growth and reduction of childhood undernutrition in Ethiopia. The study used pooled data of three rounds (2000, 2005 and 2010) from the Demographic and Health Surveys (DHS) of Ethiopia. A multilevel mixed logistic regression model with robust standard errors was utilized in order to account for the hierarchical nature of the data. The dependent variables were stunting, underweight, and wasting in children in the household. The main independent variable was real per capita income (PCI) that was adjusted for purchasing power parity. This information was obtained from World Bank. A total of 32,610 children were included in the pooled analysis. Overall, 11,296 (46.7%) [46.0%-47.3%], 8,197(33.8%) [33.2%-34.4%] and 3,175(13.1%) [12.7%-13.5%] were stunted, underweight, and wasted, respectively. We found a strong correlation between prevalence of early childhood undernutrition outcomes and real per capita income (PCI). The proportions of stunting (r = -0.1207, peconomic growth substantially reduced stunting [β = -0.0016, SE = 0.00013, pEconomic growth reduces child undernutrition in Ethiopia. This verifies the fact that the economic growth of the country accompanied with socio-economic development and improvement of the livelihood of the poor. Direct nutrition specific and nutrition sensitive interventions could also be recommended in order to have an impact on the massive reduction of childhood undernutrition in the country.

  15. Research award: Employment and Growth | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    2017-09-06

    Sep 6, 2017 ... The program's flagship is the Growth and Economic Opportunities for ... and explain how this opportunity will advance their career goals. ... Strong research, analysis, and writing skills for different audiences (academic, policy, ...

  16. Marginal socio-economic effects of an employer's efforts to improve the work environment.

    Science.gov (United States)

    Rezagholi, Mahmoud

    2018-01-01

    Workplace health promotion (WHP) strongly requires the employer's efforts to improve the psychosocial, ergonomic, and physical environments of the workplace. There are many studies discussing the socio-economic advantage of WHP intervention programmes and thus the internal and external factors motivating employers to implement and integrate such programmes. However, the socio-economic impacts of the employer's multifactorial efforts to improve the work environment need to be adequately assessed. Data were collected from Swedish company Sandvik Materials Technology (SMT) through a work environment survey in April 2014. Different regression equations were analysed to assess marginal effects of the employer's efforts on overall labour effectiveness (OLE), informal work impairments (IWI), lost working hours (LWH), and labour productivity loss (LPL) in terms of money. The employer's multifactorial efforts resulted in increasing OLE, decreasing IWI and illness-related LWH, and cost savings in terms of decreasing LPL. Environmental factors at the workplace are the important determinant factor for OLE, and the latter is where socio-economic impacts of the employer's efforts primarily manifest.

  17. An Accounting Method for Economic Growth

    OpenAIRE

    Hongchun Zhao

    2012-01-01

    As Chari et al. (2007) indicate, many growth theories explaining frictions in real economies are equivalent to a competitive economy, with some exogenous taxes. Using this idea, I developed an accounting method for identifying fundamental causes of economic growth. A two-sector neoclassical growth model with taxes is used as a prototype economy, and its equilibrium conditions define wedges. These wedges endogenously determine the long run growth rate, which is exogenous and not correlated wit...

  18. HOW TO SUSTAIN ECONOMIC PERFORMANCE? ECONOMIC GROWTH AND ITS IMPACT FACTORS

    Directory of Open Access Journals (Sweden)

    OANA SIMONA HUDEA (CARAMAN

    2012-05-01

    Full Text Available This paper intends to render several important factors of impact on economic growth and to describe the particular types of relationships of the latter with each one of its influencing elements. In order to correctly determine such issue, we have resorted to three carefully selected models that have been estimated and compared so as to identify the most adequate and representative regression. For this purpose we have performed an analysis based on cross-section annual data for 105 countries spread all over the world. After having tested and rejected certain exogenous variables initially considered, such as imports or exports, we have finally retained the external debt and foreign direct investments as explanatory items of the dependent variable. The results revealed that both of them positively affect the gross domestic product of the analysed countries, this one being inelastic in relation to the exogenous variables considered. Even if the relationship between the economic growth and the external debt of a country is usually negative, as the money exit out of the country due to the debt service causes non-achieved potential investments, yet, there is an inflexion point up to which the external debt has a positive influence on economic growth by the increase of the investments funds acquired as result of the external credit contracting, this being the case reflected by our study. As for the relationship existing between foreign direct investments and GDP, the economic theory confirms that FDI and economic growth are directly correlated, the former contributing to technical progress, production increase and, finally, to the improvement of the living standard.

  19. Outward foreign direct investments and home country's economic growth

    Science.gov (United States)

    Ciesielska, Dorota; Kołtuniak, Marcin

    2017-09-01

    The study examines the time stability of the causality direction and cross-correlations between the home country's economic growth and pace of growth of its outward foreign direct investment (OFDI) stocks within the complex system of the Polish national economy. The research has been performed in order to verify, using both the time and frequency domains time series analyses, if economic agents' long term decisions on outward foreign direct investments, leading to cross-border value chains and production fragmentation processes, are of adaptive or predictive character. Consequently, the aim was to check if the home country's economic growth leads the internationalization processes of domestic enterprises, which stays in line with Dunning's Investment Development Path (IDP) paradigm, or if these complex processes, thanks to entrepreneurs' ability to formulate relevant rational expectations, precede the home country's economic growth, which would be supported with the introduction of the policy on reinforcing the internationalization processes of domestic enterprises. The presence of the unidirectional economic growth-led internationalization, consistent with the IDP concept's base assumptions, has been ascertained by the results of the short term Granger causality tests. Nevertheless, the results of the wavelet analyses, supported with the results of the econometric block exogeneity long term causality Wald tests, have revealed that in the long term the OFDI stocks' growth permanently precedes the home country's economic growth, which stays in the unequivocal contrast with the IDP paradigm's premises, as well as with the indicated above short term Granger causality tests' outcomes and indicates that economic agents' choices are not strictly of adaptive but also of predictive character, which influences the current state of knowledge on economic complex systems' characteristics. Such a result is of a great importance in the light of the existence of the significant

  20. Export Specialisation and Local Economic Growth

    NARCIS (Netherlands)

    Naude, Wim; Bosker, Maarten; Matthee, Marianne

    This paper aims to provide empirical evidence on whether export specialization or diversification is better for local economic growth. Using export data from 354 magisterial districts of South Africa for 1996 and 2001 we estimate spatial growth regressions that include measures of the degree of

  1. An Analysis of Regional Employment Growth, 1973-85.

    Science.gov (United States)

    Rones, Philip L.

    1986-01-01

    This article describes some of the changes in regional employment over the past decade or so, with particular emphasis on the industrial components of those changes; then it examines some of the reasons for dramatically uneven regional employment growth, focusing on such aspects as population and business migration, regional income inequality, and…

  2. Reduced Deforestation and Economic Growth

    OpenAIRE

    Patrick Doupe

    2014-01-01

    The clearing of forests for agricultural land and other marketable purposes is a well-trodden path of economic development. With these private benefits from deforestation come external costs: emissions from deforestation currently account for 12 per cent of global carbon emissions. A widespread intervention in reducing emissions from deforestation will affect the paths of agricultural expansion and economic growth of lower income nations. To investigate these processes, this paper presents a ...

  3. Global Integration, Non-Oil Export and Economic Growth in Nigeria

    Directory of Open Access Journals (Sweden)

    Ozoemena Stanley Nwodo

    2017-03-01

    Full Text Available This study focuses on global integration, non-oil export and economic growth in Nigeria. The direct and interaction effect of the both openness variables and non-oil export on economic growth in Nigeria is investigated using quarterly data from 1986-2014. For analysis, it uses one measures of financial openness: de facto (total capital flow variables following Aizenman and Noy (2009.and a measure of trade openness adopted by Okoh (2004. The study applies the Autoregressive Distributed Lag Model (ARDL. The results show positive impact of non-oil export on economic growth in Nigeria both in the short run and in the long run, negative effect of trade and financial openness on economic growth however, the result recorded a negative effect of the interaction of trade openness and non-oil export on economic growth and a positive effect of the interaction of financial openness and non-oil export on economic growth. Thus, the study recommends among others that government should get the fundamentals right in the economy first that will boost non-oil sector before opening the economy for trade.

  4. Internship – tool for improving the employability of Economic Science graduates

    Directory of Open Access Journals (Sweden)

    Silvia SUMEDREA

    2016-07-01

    Full Text Available Romania's economy has undergone major changes as a result of various technological, economic and social factors, so that the labor market has undergone major changes too, which puts more acute the problem of youth employability. The article presents the results of a project to develop human resources financed by European Union funds aimed at improving the way students realize internship, the ultimate goal of implementation of the project being to accustom students with employers' demands and rigors of a job to thus contribute to increasing the employability of future graduates of economic studies. Internship results are presented by taking into account the students’ opinions and some suggestions are made in order to improve this activity in the future.

  5. Environmental degradation, economic growth and energy consumption: Evidence of the environmental Kuznets curve in Malaysia

    International Nuclear Information System (INIS)

    Saboori, Behnaz; Sulaiman, Jamalludin

    2013-01-01

    This paper tests for the short and long-run relationship between economic growth, carbon dioxide (CO 2 ) emissions and energy consumption, using the Environmental Kuznets Curve (EKC) by employing both the aggregated and disaggregated energy consumption data in Malaysia for the period 1980–2009. The Autoregressive Distributed Lag (ARDL) methodology and Johansen–Juselius maximum likelihood approach were used to test the cointegration relationship; and the Granger causality test, based on the vector error correction model (VECM), to test for causality. The study does not support an inverted U-shaped relationship (EKC) when aggregated energy consumption data was used. When data was disaggregated based on different energy sources such as oil, coal, gas and electricity, the study does show evidences of the EKC hypothesis. The long-run Granger causality test shows that there is bi-directional causality between economic growth and CO 2 emissions, with coal, gas, electricity and oil consumption. This suggests that decreasing energy consumption such as coal, gas, electricity and oil appears to be an effective way to control CO 2 emissions but simultaneously will hinder economic growth. Thus suitable policies related to the efficient consumption of energy resources and consumption of renewable sources are required. - Highlights: • We investigated the EKC hypothesis by using Malaysian energy aggregated and disaggregated data. • It was found that the EKC is not supported, using the aggregated data (energy consumption). • However using disaggregated energy data (oil, coal and electricity) there is evidence of EKC. • Causality shows no causal relationship between economic growth and energy consumption in the short-run. • Economic growth Granger causes energy consumption and energy consumption causes CO 2 emissions in long-run

  6. India Labour and Employment Report 2014: Workers in the era of ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    2016-06-07

    Jun 7, 2016 ... India's rapid economic growth has reduced extreme poverty among ... India Labour and Employment Report 2014: Workers in the era of globalization ... The impact of demographic change on economic growth in Kenya and ...

  7. Transport Infrastructure and Economic Growth: Spatial Effects

    Directory of Open Access Journals (Sweden)

    Artyom Gennadyevich Isaev

    2015-09-01

    Full Text Available The author specifies an empirical framework of neoclassical growth model in order to examine impact of transport infrastructure on economic growth in Russian regions during period of 2000-2013. Two different effects of infrastructure are considered. First, infrastructure is viewed as part of region’s own production function. Second, infrastructure generates spillover effect on adjacent regions’ economic performance which can be negative or positive. Results imply that road infrastructure has a positive influence on regional growth, but sign of railroad infrastructure coefficient depends on whether or not congestion effect is considered. Negative spillover effect is shown to exist in the case of road infrastructure. This apparently means that rapid road infrastructure development in some regions moves mobile factors of production away from adjacent regions retarding their economic development. The spillover effect of railroad infrastructure is significant and negative again only if congestion effect is considered. The results of estimation for the Far East and Baikal Regions separately demonstrate no significant effect of both types of infrastructure for economic performance and negative spillover effect of road infrastructure

  8. The Paradoxical Relationship between Renewable Energy and Economic Growth: A Cross-National Panel Study, 1990-2013

    Directory of Open Access Journals (Sweden)

    Ryan P Thombs

    2017-08-01

    Full Text Available This cross-national study employs a time-series cross-sectional Prais-Winsten regression model with panel-corrected standard errors to examine the relationship between renewable energy consumption and economic growth, and its impact on total carbon dioxide emissions and carbon dioxide emissions per unit of GDP. Findings indicate that renewable energy consumption has its largest negative effect on total carbon emissions and carbon emissions per unit of GDP in low-income countries. Contrary to conventional wisdom, renewable energy has little influence on total carbon dioxide emissions or carbon dioxide emissions per unit of GDP at high levels of GDP per capita. The findings of this study indicate the presence of a “renewable energy paradox,” where economic growth becomes increasingly coupled with carbon emissions at high levels of renewable energy, and the negative effect of economic growth on carbon emissions per unit of GDP lessens as renewable energy increases. These findings suggest that public policy should be directed at deploying renewable energy in developing countries, while focusing on non-or-de-growth strategies accompanied with renewable energy in developed nations.

  9. Nation Building as a Determinent of Economic Growth

    Science.gov (United States)

    2010-05-18

    Consortium for Political and Social Reserch (2007). Mankiw , N. Gregory, David Romer, and David N. Weil. “A Contribution to the Empirics of Economic Growth...Determinent of Economic Growth 5b. GRANT NUMBER 5c. PROGRAM ELEMENT NUMBER 6 . AUTHOR(S) 5d. PROJECT NUMBER Creasey. Ellyn Ann 5e. TASK NUMBER 51...J ss istance and econom ic aid impact the development process. The primary resu lts suggest a 1% increase in spending on nation building result s

  10. HEALTH, EDUCATION AND ECONOMIC GROWTH IN MALAYSIA

    OpenAIRE

    Rahmah Ismaila and Doris Padmini Selvaratnamb

    1999-01-01

    Human capital is vital for the development of a country. Investment in human capital ranges from basic needs expenditure to education and health provision. Economic growth is often used to measure the progress and development of a country. Today other indicators are used to emphasize physical quality of life, for example, education, health and basic needs provision. Using a simultaneous equation model, this paper estimates the relationship between economic growth and human capital variables i...

  11. Economic growth of the United States: perspective and prospective. [Monograph

    Energy Technology Data Exchange (ETDEWEB)

    Fabricant, S

    1979-01-01

    A post-World War II analysis of the potential for US economic expansion projects a continuation of the basic social and economic expectations and international relations and of the upward trend of labor input, labor productivity, and national output. How economic growth of the future will differ as a result of global changes in population and resources is examined in the context of other national objectives. The rapid increase in labor productivity during the postwar period was taken in the form of income rather than leisure. This led to a growth of goods and real per capita income as well as higher standards of living, education, and economic stability. The implications for future growth indicate the need to slow the growth of the national product in line with the rate of population growth. The improved welfare of the people should be the overall goal of which economic growth is one component. 23 tables. (DCK)

  12. Electrification, economic growth and uranium power

    International Nuclear Information System (INIS)

    Starr, C.

    1983-01-01

    The worldwide growth of uranium power plant capacity is obviously dependent on both the growth of electrification and the competitive status of uranium power. In this paper the thesis is developed that expanded use of uranium power is essential to provide a substantial portion of the electricity necessary for world economic growth. Further, the case is made that the obstacles to this expansion arise not from the technology, but rather from the inadequacies of our industrial, political, and economic institutions to manage this new energy system effectively, nationally and internationally. Data are presented on the relation between electricity consumption and GNP; percentage of primary energy used for electricity; energy price ratio; relative generation costs of U, coal and oil-fired power plants; generating costs and capacity factors of conventional and uranium power plants. (U.K.)

  13. Employment and Growth | Page 34 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Most young people in the region work in low-income and low-productivity jobs, and ... To address this gap, IDRC supports training, networking, and publication to ... ​Asia's rapid economic growth has ignited concerns over labour rights and ...

  14. Causal relations between knowledge-intensive business services and regional employment growth

    NARCIS (Netherlands)

    Brenner, T.; Capasso, M.; Duschl, M.; Frenken, K.; Treibich, T.G.

    2015-01-01

    This paper studies the causal relations between regional employment growth in Knowledge-Intensive Business Services (KIBS) and overall regional employment growth using German labour-market data for the period 1999-2012. Adopting a recently developed technique, we are able to estimate a structural

  15. Association between economic growth and injury mortality among seniors in Colombia.

    Science.gov (United States)

    Trujillo, Antonio J; Hyder, Adnan A; Ruiz, Fernando

    2010-12-01

    Injuries among seniors are recognised as an important public health problem not only in developed countries but also in middle-income countries. There is ample epidemiological literature that relates economic growth to the reduction of infectious and childhood diseases. Less evidence exists to document if economic growth alone is enough to reverse the increasing trends of injury mortality and morbidity among seniors in a middle-income country. To investigate the association between economic growth and injury deaths among older people in Colombia. Using data from Colombia, 1979-2006 (n=28), time-series models were used to ascertain if the variation over time in injury mortality among seniors is related to short-term oscillations in economic performance. Four empirical specifications usually used in the analysis of such data were implemented. Models were run by type of injury and gender. A negative but moderate effect of economic growth was found on injury deaths among older people. The reported elasticity was between -0.98 and -1.26. Men benefit from economic growth more than women. Economic growth seems to reduce traffic injuries, suicides and homicides. A positive association was also found between falls and growth in gross domestic product. The results indicate a non-homogeneous association between economic growth and injury deaths among seniors in Colombia. This association is usually stronger in a negative direction among children and younger adults. Although more research is needed to understand the causal relationship between economic growth and injury, the association found may suggest that economic growth may not be sufficient to reverse injury deaths among older people; therefore, additional health policies need to be in place to reduce mortality due to preventable injuries in seniors.

  16. RELATIONSHIPS BETWEEN EMPLOYMENT AND GROWTH FROM INDUSTRIAL PERSPECTIVE BY CONSIDERING EMPLOYMENT INCENTIVES: THE CASE OF TURKEY

    Directory of Open Access Journals (Sweden)

    Emre Aksoy

    2013-01-01

    Full Text Available By using quarterly data this study applied Toda-Yamamoto (1995 method for the period 1988-2010 to uncover the relationship between growth and employment in aggregate and industrial respects and also to investigate the impacts of investment and employment incentives on employment for Turkish Economy. The findings showed that the relationship between growth and employment varied with the industries. The study covers ten industries and there were causalities detected for four out of ten industries, either one or two ways. For the rest six industries covered in the study, there was no causal relationship obtained. The incentives impacts on employment, similarly, vary with industries. The law numbered as 5084 had positive and statistically significant influences on social service, manufacturing, and transportation and communication industries while the law numbered as 5763 extracted positive and significant influences on energy production and distribution, and financial intermediation industries.

  17. Re-investigating the electricity consumption and economic growth nexus in Portugal

    International Nuclear Information System (INIS)

    Tang, Chor Foon; Shahbaz, Muhammad; Arouri, Mohamed

    2013-01-01

    In the previous decades, a number of studies have been conducted to analyse the causal relationship between electricity consumption and economic growth in the Portuguese economy. However, the evidence remains controversial because the previous studies do not provide clear causality evidence. This might be attributed to the omitted variables bias because most previous studies only focus on the relationship between electricity consumption and economic growth in a bi-variate model. This paper attempts to re-investigate the relationship between electricity consumption and economic growth in Portugal using a multivariate model. Based on the bounds testing approach to cointegration and the Granger causality test within the vector error-correction model (VECM), our empirical results confirm the presence of cointegration among the variables. Moreover, there is evidence of bi-directional causality between electricity consumption and economic growth in the short- and long-run. This suggests that energy is an important source of economic growth in Portugal. Therefore, energy conservation policies should not be implemented because it would deteriorate the process of economic growth and development of the Portuguese economy. - Highlights: • Electricity consumption and economic growth series in Portugal are cointegrated. • There is evidence of feedback effects between the two variables. • Energy is an important source of economic growth in Portugal

  18. Determinants of economic growth in BRIC countries

    OpenAIRE

    Rajjev K. Goel

    2011-01-01

    We study economic growth in four emerging economies - Brazil, Russia, India, and China (BRIC). Questions addressed are: (a) How do medium term growth determinants differ from short term determinants? (b) What are differences between growth effects of aggregate versus disaggregated exports? And (c) Does lower institutional quality hinder growth? Results show that while BRIC nations have higher growth, there are significant within-group differences. China and Russia mostly showed higher growth,...

  19. Does inequality in health impede economic growth?

    Science.gov (United States)

    Grimm, Michael

    2011-01-01

    This paper investigates the effects of inequality in health on economic growth in low and middle income countries. The empirical part of the paper uses an original cross-national panel data set covering 62 low and middle income countries over the period 1985 to 2007. I find a substantial and relatively robust negative effect of health inequality on income levels and income growth controlling for life expectancy, country and time fixed-effects and a large number of other effects that have been shown to matter for growth. The effect also holds if health inequality is instrumented to circumvent a potential problem of reverse causality. Hence, reducing inequality in the access to health care and to health-related information can make a substantial contribution to economic growth.

  20. Exchange-rate regimes and economic growth: An empirical evaluation

    OpenAIRE

    Simón Sosvilla-Rivero; María del Carmen Ramos-Herrera

    2014-01-01

    Based on a dataset of 123 economies, this paper empirically investigates the relation between exchange-rate regimes and economic growth. We find that growth performance is best under intermediate exchange rate regimes, while the smallest growth rates are associated with flexible exchange rates. Nevertheless, this conclusion is tempered when we analyze the countries by income level: even though countries that adopt intermediate exchange-rate regimes are characterized by higher economic growth,...

  1. ICTs, Economic Growth and Poverty | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    ICTs, Economic Growth and Poverty ... new information and communication technologies (ICTs) as a lever for economic and social development. ... Socially equitable climate action is essential to strengthen the resilience of all people, without ...

  2. An Attempt to Assess the Quantitative Impact of Institutions on Economic Growth and Economic Development

    Directory of Open Access Journals (Sweden)

    Próchniak Mariusz

    2014-10-01

    Full Text Available This study aims at assessing to what extent institutional environment is responsible for worldwide differences in economic growth and economic development. To answer this question, we use an innovative approach based on a new concept of the institutions-augmented Solow model which is then estimated empirically using regression equations. The analysis covers 180 countries during the 1993-2012 period. The empirical analysis confirms a large positive impact of the quality of institutional environment on the level of economic development. The positive link has been evidenced for all five institutional indicators: two indices of economic freedom (Heritage Foundation and Fraser Institute, the governance indicator (World Bank, the democracy index (Freedom House, and the EBRD transition indicator for post-socialist countries. Differences in physical capital, human capital, and institutional environment explain about 70-75% of the worldwide differences in economic development. The institutions-augmented Solow model, however, performs slightly poorer in explaining differences in the rates of economic growth: only one institutional variable (index of economic freedom has a statistically significant impact on economic growth. In terms of originality, this paper extends the theoretical analysis of the Solow model by including institutions, on the one hand, and shows a comprehensive empirical analysis of the impact of various institutional indicators on both the level of development and the pace of economic growth, on the other. The results bring important policy implications.

  3. Financial development, uncertainty and economic growth

    NARCIS (Netherlands)

    Lensink, B.W.

    By performing a cross-country growth regression for the 1970-1998 period this paper finds evidence for the fact that the impact of policy uncertainty on economic growth depends on the development of the financial sector. It appears that a higher level of financial development partly mitigates the

  4. Economic growth - environmental protection - quality of life

    International Nuclear Information System (INIS)

    Kumm, J.

    1975-01-01

    This is an investigation into the assumption that uncontrolled economic growth puts a burden on the natural environment and lowers the quality of life. This analysis of the natural, technical, economic, and social environment answers the following questions: 1) which development will production and consumption take up to the year 2000; 2) extent of environmental burden to be expected as a result thereof; 3) influence of needs and valid standard of values thus prevailing; 4) administrative measures for environmental policies; 5) influence of environmental policies on the quality of life; 6) possibility of economic growth while the natural environment is sufficiently protected at the same time. The man-environment model presented elucidates the interrelations between economic development and the natural and social environment; it checks the effectiveness of alternate environmental protection measures. (HP) [de

  5. AFRICAN JOURNAL OF ECONOMIC REVIEW

    African Journals Online (AJOL)

    Dr Kazungu

    Keywords: Economic Growth, Fiscal Policy, Cointegration, Causality, Wagner' Law, ... methods and materials used to test for existence of long-run and short run ... force of economic growth as the Keynesian economists has postulated. ... money creation would not affect either employment or the price level (Ju-Huang, 2006).

  6. THE CAUSALITY RELATION BETWEEN FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH: AN ANALYSIS FOR EMERGING ECONOMIES

    Directory of Open Access Journals (Sweden)

    Şeref BOZOKLU

    2013-12-01

    Full Text Available This study examines the relationship between financial development and economicgrowth employing panel Granger causality test developed by Dumitrescu ve Hurlin (2012for Brazil, Chile, China, Egypt, Hungry, India, Indonesia, Malaysia, Mexico, Peru,Philippines, South Korea, Thailand and Turkey. We used yearly data over the period 1988-2011. Domestic credits to Gross Domestic Product (GDP ratio and real GDP per capitaare used as indicators for financial development and economic growth respectively. Theempirical results strongly indicate that financial development Granger-causes economicgrowth and that these countries can accelerate their growth rates by improving theirfinancial systems. 

  7. Analyzing of economic growth based on electricity consumption from different sources

    Science.gov (United States)

    Maksimović, Goran; Milosavljević, Valentina; Ćirković, Bratislav; Milošević, Božidar; Jović, Srđan; Alizamir, Meysam

    2017-10-01

    Economic growth could be influenced by different factors. In this study was analyzed the economic growth based on the electricity consumption form different sources. As economic growth indicator gross domestic product (GDP) was used. ANFIS (adaptive neuro fuzzy inference system) methodology was applied to determine the most important factors from the given set for the GDP growth prediction. Six inputs were used: electricity production from coal, hydroelectric, natural gas, nuclear, oil and renewable sources. Results shown that the electricity consumption from renewable sources has the highest impact on the economic or GDP growth prediction.

  8. Energy, Economic Growth and Environmental Sustainability: Five Propositions

    Directory of Open Access Journals (Sweden)

    Steven Sorrell

    2010-06-01

    Full Text Available This paper advances five linked and controversial propositions that have both deep historical roots and urgent contemporary relevance. These are: (a the rebound effects from energy efficiency improvements are significant and limit the potential for decoupling energy consumption from economic growth; (b the contribution of energy to productivity improvements and economic growth has been greatly underestimated; (c the pursuit of improved efficiency needs to be complemented by an ethic of sufficiency; (d sustainability is incompatible with continued economic growth in rich countries; and (e a zero-growth economy is incompatible with a fractional reserve banking system. These propositions run counter to conventional wisdom and each highlights either a "blind spot" or "taboo subject" that deserves closer scrutiny. While accepting one proposition reinforces the case for accepting the next, the former is neither necessary nor sufficient for the latter.

  9. Dynamic analysis of savings and economic growth in Nigeria ...

    African Journals Online (AJOL)

    Dynamic analysis of savings and economic growth in Nigeria. ... a trivariate dynamic Granger causality model with savings, economic growth and foreign ... It is recommended that in the short run, policies in Nigeria should be geared towards ...

  10. Public Debt and Economic Growth in Malaysia

    OpenAIRE

    Siew-Peng Lee; Yan-Ling Ng

    2015-01-01

    Public debt in the Malaysia increased because of fiscal expansions. This study examines whether public debt contributed to the economic growth in Malaysia over the period 1991 to 2013. It also examines whether other indicators of debt burden, such as budget deficit, budget expenditure, and external debt service and government consumption, have an impact on economic growth. The results of this study are consistent with the existing literature that found a negative association between diet and ...

  11. The effect of female labour force in economic growth and sustainability in transition economies - case study for SEE countries

    Directory of Open Access Journals (Sweden)

    Majlinda Mazalliu

    2015-07-01

    Full Text Available In this research paper, the main theoretical arguments for discussions are as following: female labour force participation in transition countries, female employment in economic sectors and their main barriers, and the contributions of female labour force in economic growth. In methodology, the secondary data are used, and they are calculated through STATA program. The main analysis include: descriptive statistic, regression analysis and correlation matrix. Based on empirical results, the regression analysis has found that economic growth and government effectiveness has a negative impact on female labour force. Financial market development, enterprises reforms, and innovation have a positive impact on female labour force in SEE (South Eastern European countries. In T-statistic analysis all independent variables have shown a negative significance (T <2 on female labour force. In correlation, economic growth and financial development market have negative correlation on female labour force, but other variables have shown positive correlation. SEE countries should develop the female labour force in their economies, so their role may be crucial toward different economic problems and challenges in the modern economy.

  12. A critical realist perspective on decoupling negative environmental impacts from housing sector growth and economic growth

    DEFF Research Database (Denmark)

    Xue, Jin

    2012-01-01

    The question that motivates this article has been a matter of dispute: Is it possible to combine perpetual economic growth and longterm environmental sustainability based on the premise that economic growth can be fully decoupled from negative environmental impacts? The article addresses...... this question from the position of critical realism. An empirical study focusing on the housing sector is conducted, indicating that housing stock growth and economic growth have been, at best, weakly decoupled from environmental impacts. In the long run, it seems implausible that the degree of decoupling can...... be increased at a rate sufficient to compensate for continual growth in the volume of housing stock. A further elaboration of the topic at an ontological level leads to the conclusion that continual economic growth and long-term environmental sustainability can hardly be combined....

  13. Using Wmatrix to Explore Discourse of Economic Growth

    Science.gov (United States)

    Hu, Chunyu

    2015-01-01

    Growth is a concept of particular interest for economic discourse. This paper sets out to explore a small corpus of economic growth, which consists of articles from "The Economist". The corpus software used in this study is a web-based tool Wmatrix, an automatic tagging software able to assign semantic field (domain) tags, and to permit…

  14. The economic growth enigma: Capital, labour and useful energy?

    International Nuclear Information System (INIS)

    Ayres, Robert; Voudouris, Vlasios

    2014-01-01

    We show that the application of flexible semi-parametric statistical techniques enables significant improvements in model fitting of macroeconomic models. As applied to the explanation of the past economic growth (since 1900) in US, UK and Japan, the new results demonstrate quite conclusively the non-linear relationships between capital, labour and useful energy with economic growth. They also indicate that output elasticities of capital, labour and useful energy are extremely variable over time. We suggest that these results confirm the economic intuition that growth since the industrial revolution has been driven largely by declining energy costs due to the discovery and exploitation of relatively inexpensive fossil fuel resources. Implications for the 21st century, which are also discussed briefly by exploring the implications of an ACEGES-based scenario of oil production, are as follows: (a) the provision of adequate and affordable quantities of useful energy as a pre-condition for economic growth and (b) the design of energy systems as ‘technology incubators’ for a prosperous 21st century. - Highlights: • Economic growth needs three factors of production. • We propose a semi-parametric generalised production function. • Exploitation of inexpensive fossil fuel resources has profound policy implications

  15. Export and Economic Growth in the West Balkan Countries

    Directory of Open Access Journals (Sweden)

    Florentina Xhelili Krasniqi

    2017-09-01

    Full Text Available The aim of this paper is to explore the effects of exports and other variables (foreign direct investment, remittances, capital formation, and labour force on economic growth in West Balkan countries (Albania, Kosovo, Macedonia, Montenegro, Bosnia and Herzegovina and Serbia. This study utilizes a strongly balanced panel data over the 2005-2015 period for Western Balkan countries using the ordinary least squares method (OLS, ie Pooled regression model to evaluate the parameters. The relationship between export and economic growth has turned to be statistically significant and positively related for the countries under the study. Results also indicate the statistically significant positive relationship between economic growth and other variables included in the model such is remittances, capital formation, and labor. The relationship between economic growth and foreign direct investment has turned out to be statistically insignificant and negatively related.

  16. Employment as a Journey or a Destination? Interpreting Graduates' and Employers' Perceptions--A Malaysia Case Study

    Science.gov (United States)

    Cheong, Kee-Cheok; Hill, Christopher; Leong, Yin-Ching; Zhang, Chen

    2018-01-01

    As human capital came to the fore in the discourse on economic growth, so too has the concepts of employment prospects and employability attributes as students transit to the labor market. This paper examines three issues in this transition in the context of Malaysia. These are, first, how important is employment prospects a consideration when…

  17. Renewable Resources, Capital Accumulation, and Economic Growth

    Directory of Open Access Journals (Sweden)

    Wei-Bin Zhang

    2011-01-01

    Full Text Available This paper proposes a dynamic economic model with physical capital and renewable resources. Different from most of the neoclassical growth models with renewable resources which are based on microeconomic foundation and neglect physical capital accumulation, this study proposes a growth model with dynamics of renewable resources and physical capital accumulation. The model is a synthesis of the neoclassical growth theory and the traditional dynamic models of renewable resources with an alternative approach to household behavior. The model describes a dynamic interdependence among physical accumulation, resource change, and division of labor under perfect competition. Because of its refined economic structure, our study enables some interactions among economic variables which are not found in the existing literature on economic growth with renewable resources. We simulate the model to demonstrate the existence of equilibrium points and motion of the dynamic system. Our comparative dynamic analysis shows, for instance, that a rise in the propensity to consume the renewable resource increases the interest rate and reduces the national and production sector’s capital stocks, wage rate and level of the consumption good. Moreover, it initially reduces and then increases the capital stocks of the resource sector and the consumption and price of the renewable resource. The stock of the renewable resource is initially increased and then reduced. Finally, labor is redistributed from the production to the resource sector.

  18. Management of business economic growth as function of resource rents

    Science.gov (United States)

    Prljić, Stefan; Nikitović, Zorana; Stojanović, Aleksandra Golubović; Cogoljević, Dušan; Pešić, Gordana; Alizamir, Meysam

    2018-02-01

    Economic profit could be influenced by economic rents. However natural resource rents provided different impact on the economic growth or economic profit. The main focus of the study was to evaluate the economic growth as function of natural resource rents. For such a purpose machine learning approach, artificial neural network, was used. The used natural resource rents were coal rents, forest rents, mineral rents, natural gas rents and oil rents. Based on the results it is concluded that the machine learning approach could be used as the tool for the economic growth evaluation as function of natural resource rents. Moreover the more advanced approaches should be incorporated to improve more the forecasting accuracy.

  19. Employment and Growth | Page 9 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Tax Policy and Enterprise Development in South Asia. Language English. Read more about Global Administrative Law: Improving Inter-institutional Connections in Global and National Regulatory Governance. Language English. Read more about African ...

  20. Human Capital and Economic Growth - How Strong is the Nexus?

    Directory of Open Access Journals (Sweden)

    Marinko Škare

    2016-08-01

    Full Text Available The link between human capital and economic growth still remains unexplained because of the measurement issues connected to the human capital stock. This study investigates the link between human capital stock and economic growth using inclusive wealth index and ratio of engaged to actively disengaged employees as proxy for human capital stock. Data from the global workplace and inclusive wealth reports are used in order to provide an international comparison of the link between human capital and inclusive wealth. Cross country comparison show human capital largerly contribute to the inclusive wealth formation. Formal education is important but also motivating working environment is needed to achieve sustainable economic growth. The finding further indicates that standard human capital growth model should be revised taking into the account variables addressing sustainable growth (not just growth and environmental variables (work conditions affecting human capital stock. Countries encouraging investments in the development of individuals both through formal education and inspiring work environments achieve higher sustainable economic growth

  1. Economic growth and military expenditure linkages: a panel data analysis

    Directory of Open Access Journals (Sweden)

    Ahmed Shahid

    2015-12-01

    Full Text Available This paper has made an attempt to examine relationship between military expenditure and economic growth using 56 country panel data spanning over 1995—2011. Panel fixed effect model has been estimated for all 56 countries and sub-groups classified on the basis of World Bank income criteria. The results of this study indicate a positive effect of military expenditure on economic growth but this positive effect is negligible compared to the alternative uses of scare resources on non-military expenditure. Thus, the effect of military expenditure on economic growth is very low compared to the effect of expenditure on capital formation, hence military expenditure as a sub-optimal means of increasing economic growth compared to alternative uses of government spending on formation of fixed capital. This study raises an important argument of huge opportunity cost of military expenditure. The present study concludes that the boosting of economic growth through higher military expenditure is neither effective nor efficient way of achieving higher growth in the economy.

  2. R.M. Solow Adjusted Model of Economic Growth

    Directory of Open Access Journals (Sweden)

    Ion Gh. Rosca

    2007-05-01

    Full Text Available Besides the models of M. Keynes, R.F. Harrod, E. Domar, D. Romer, Ramsey-Cass-Koopmans etc., the R.M. Solow model is part of the category which characterizes the economic growth. The paper proposes the study of the R.M. Solow adjusted model of economic growth, while the adjustment consisting in the model adaptation to the Romanian economic characteristics. The article is the first one from a three paper series dedicated to the macroeconomic modelling theme, using the R.M. Solow model, such as: “Measurement of the economic growth and extensions of the R.M. Solow adjusted model” and “Evolution scenarios at the Romanian economy level using the R.M. Solow adjusted model”. The analysis part of the model is based on the study of the equilibrium to the continuous case with some interpretations of the discreet one, by using the state diagram. The optimization problem at the economic level is also used; it is built up of a specified number of representative consumers and firms in order to reveal the interaction between these elements.

  3. Essays on industrial structure and economic growth

    International Nuclear Information System (INIS)

    Nordaas, Hildegunn Kyvik

    1997-01-01

    The book is a thesis submitted for the degree of dr. polit. at the University of Bergen. It has chapters on economic development and industrial structure, trade and growth with static and dynamic economies of scale, terms of trade and economic growth in a world of constrained capital mobility, how liberalization of trade in services may conserve natural reserves, some reasons why capital does not flow from rich to poor counties and finally on South African manufacturing industries - catching up or falling behind

  4. The role of government spending on economic growth in a developing country

    Directory of Open Access Journals (Sweden)

    M.F. Oladele

    2017-05-01

    Full Text Available The issue of whether government expenditure helps or hinders economic growth is still debatable. This study examines the contribution of government spending towards economic growth in South Africa using annual data from 1980 – 2014. The cointegration approach and Vector Error Correction Model were used to analyse the data. The cointegration test results indicate that there is long run relationship between government expenditure and economic growth in South Africa. The VECM outcome indicates a positive and significant link between economic growth and expenditure on the long run. There is a positive and significant relationship between exchange rate and economic growth and a significant and negative relationship between economic growth and private consumption. Based on these findings, the correlation between government expenditure and economic growth showed that there is positive relationship on the long run in South Africa, while there is a negative and significant relationship between government spending and economic growth on the short run. More spending should therefore be directed towards important sectors such as infrastructural development and industrial development in order to accelerate economic growth. There is also a need for fiscal policy to be used as an instrument to regulate the amount of money in the economy.

  5. Employment and Growth | Page 14 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Read more about Pathways for shared prosperity: Understanding the links between women's economic empowerment and growth (GrOW). Language English ... Read more about Incidences des programmes d'acquisition de compétences sur les possibilités économiques des femmes au Pakistan. Language French.

  6. Do economic globalization and industry growth destabilize careers? An analysis of career complexity and career patterns over time

    NARCIS (Netherlands)

    Biemann, T.; Fasang, A.E.; Grunow, D.

    2011-01-01

    We analyze the impact of economic globalization and industry growth on the complexity of early work careers in Germany. We conceptualize complexity as the absolute number of employer changes, the regularity in the order of job changes, and the variability of the durations spent in different

  7. Growth Versus Government Management Improvement During Economic Downturn

    Science.gov (United States)

    Podobnik, Boris; Baaquie, Belal E.; Bishop, Steven; Njavro, Djuro; Li, Baowen

    2013-04-01

    In estimating how economic growth depends on various inputs, economists commonly use long periods of data encompassing both main extremes to fluctuations in the economy: recession and expansion. Here we focus on recession years because during expansion even countries with bad economic policies may experience large growth. Specifically, we study how growth depends on the proportion of public-sector workforce, p and competitiveness, quantified by the Global Competitiveness Index, GCI. For the 2008-2011 economic downturn and for 57 countries, we find that the growth rate of GDP per capita, g, decreases with p, and increases with ΔGCI. Further, more competitive countries attract more foreign direct investments per capita, I, than less competitive countries, where I ~ GCIα. We propose a production function, divided into the private and public sectors, where GDP depends on market capitalization, the public (private)-sector workforce, and competitiveness level, used to quantify the public sector efficiency.

  8. South Asian Labour and Employment Report: Promoting Inclusive ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    South Asian workers, especially women and lower caste workers, face ... Asian Employment Report will present policy options to promote growth and employment. ... IHD will work with the South Asian offices of the United Nations Economic ...

  9. An Empirical Analysis of the Determinants of Economic Growth in the Western Balkans

    Directory of Open Access Journals (Sweden)

    Fetai Besnik Taip

    2017-06-01

    Full Text Available The objective of this paper is to assess the main determinants and the policies that affect economic growth in the Western Balkan over the period 1994 to 2015. It employs techniques such as pooled OLS, fixed and random effects model, and Hausman-Taylor model with instrumental variables (IV. The study shows evidence of conditional convergence, indicating the need for an upward move in the steady state level. The results show that foreign direct investments, gross savings and domestic credit to the private sector have a positive effect on per capita growth. On the other hand, initial level of per capita growth, corruption, unemployment, and general government final consumption, have a negative relationship with per capita growth. The study also shows a puzzling result, that schooling is not a significant factor for growth in Western Balkans. The study also highlights the relevance of attracting more foreign direct investments and reduction in corruption.

  10. Modeling urban growth by the use of a multiobjective optimization approach: environmental and economic issues for the Yangtze watershed, China.

    Science.gov (United States)

    Zhang, Wenting; Wang, Haijun; Han, Fengxiang; Gao, Juan; Nguyen, Thuminh; Chen, Yarong; Huang, Bo; Zhan, F Benjamin; Zhou, Lequn; Hong, Song

    2014-11-01

    Urban growth is an unavoidable process caused by economic development and population growth. Traditional urban growth models represent the future urban growth pattern by repeating the historical urban growth regulations, which can lead to a lot of environmental problems. The Yangtze watershed is the largest and the most prosperous economic area in China, and it has been suffering from rapid urban growth from the 1970s. With the built-up area increasing from 23,238 to 31,054 km(2) during the period from 1980 to 2005, the watershed has suffered from serious nonpoint source (NPS) pollution problems, which have been mainly caused by the rapid urban growth. To protect the environment and at the same time maintain the economic development, a multiobjective optimization (MOP) is proposed to tradeoff the multiple objectives during the urban growth process of the Yangtze watershed. In particular, the four objectives of minimization of NPS pollution, maximization of GDP value, minimization of the spatial incompatibility between the land uses, and minimization of the cost of land-use change are considered by the MOP approach. Conventionally, a genetic algorithm (GA) is employed to search the Pareto solution set. In our MOP approach, a two-dimensional GA, rather than the traditional one-dimensional GA, is employed to assist with the search for the spatial optimization solution, where the land-use cells in the two-dimensional space act as genes in the GA. Furthermore, to confirm the superiority of the MOP approach over the traditional prediction approaches, a widely used urban growth prediction model, cellular automata (CA), is also carried out to allow a comparison with the Pareto solution of MOP. The results indicate that the MOP approach can make a tradeoff between the multiple objectives and can achieve an optimal urban growth pattern for Yangtze watershed, while the CA prediction model just represents the historical urban growth pattern as the future growth pattern

  11. ECONOMIC GROWTH AND TAXATION IN CENTRAL AND EASTERN EUROPE

    Directory of Open Access Journals (Sweden)

    Cristina BOROVINA (COJOCARU

    2016-05-01

    Full Text Available In the context of the economic crisis that started in the United States in 2007, economic growth has become of great importance for the countries affected by the crisis further to their confrontation with lower growth rates of GDP per capita. At national level, governments are searching for that mix of optimal economic policies that would revive economies on the upward and also sustainable trend. One of the key policies in this regard, especially for the countries in Central and Eastern Europe which intend to adopt the euro currency, is the tax policy. Its main instruments are taxes. In this paper, we pay special attention to these instruments and to the connection that they have with the economic growth. This paper is divided into three parts. The first part presents a few ideas related to the importance of taxes at national level, the second part is an analysis in terms of taxation of the Central and Eastern Europe countries, while the third part consists of a panel-type assessment of the relation between economic growth and taxation level.

  12. Employment and Growth | Page 37 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Emploi et croissance. Language English. Read more about Can Small and Medium Enterprises Participate in Greener Production? Language English. Read more about Toward Establishing an Arab Youth Policy Research Initiative. Language English. Read more about Courts, Networks, and ...

  13. Employment and Growth | Page 45 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Emploi et croissance. Language English. Read more about Poverty Reduction through Private Sector Development : Policy Research on Micro, Small and Medium Enterprises. Language English. Read more about Child Support, Poverty and Gender Equality in the Caribbean - Phase II. Language ...

  14. Electricity Consumption, Carbon Emissions and Economic Growth in Nigeria

    Directory of Open Access Journals (Sweden)

    Godwin Effiong Akpan

    2012-01-01

    Full Text Available This paper applies a Multivariate Vector Error Correction (VECM framework to examine the long run and causal relationship between electricity consumption, carbon emissions and economic growth in Nigeria. Using annual time series data for 1970 to 2008, findings show that in the long run, economic growth is associated with increase carbon emissions, while an increase in electricity consumption leads to an increase in carbon emissions. These imply that Nigeria’s growth process is pollution intensive, while the negative relationship between electricity consumption (or positive relationship between electricity consumption and emissions in Nigeria is a clear indication that electricity consumption in the country has intensified carbon emissions. No support was obtained for the hypothesized environmental Kuznets curve (EKC. Granger-causality results confirm a unidirectional causality running from economic growth to carbon emissions, indicating that carbon emissions reduction policies could be pursued without reducing economic growth in Nigeria. No causality was found between electricity and growth, in either way, which further lends credence to the crisis in the Nigerian electricity sector. Overall, the paper submits that efficient planning and increased investment in electricity infrastructure development may be the crucial missing variable in the obtained neutrality hypothesis between electricity and growth.

  15. Traffic fatalities and economic growth

    Science.gov (United States)

    2003-04-01

    As countries develop death rates usually fall, especially for diseases that affect the young and result in substantial life-years lost. Deaths due to traffic accidents are a notable exception: the growth in motor vehicles that accompanies economic gr...

  16. The Relationship Between Training and Employment Growth in Small and Medium-Sized Enterprises

    OpenAIRE

    Andy Cosh; Alan Hughes; Melvyn Weeks

    2000-01-01

    This paper provides a rigorous analysis of the impact of training upon the employment growth characteristics of small and medium sized firms. Using appropriate statistical techniques to cope with sample selection biases and heterogenerous employment growth patterns it reveals that training is positively related to employment growth, in particular when it is embedded in a wider range of human relations practices.

  17. The Non-Linear Effect of Corporate Taxes on Economic Growth

    Directory of Open Access Journals (Sweden)

    Huňady Ján

    2015-03-01

    Full Text Available The paper deals with the problem of taxation and its potential impact on economic growth and presents some new empirical insights into this topic. The main aim of the paper is to verify an assumed nonlinear impact of corporate tax rates on economic growth. Based on the theory of public finance and taxation, we hypothesize that at relatively low tax rates it is possible that the impact of taxation on economic growth become slightly positive. On the other hand when the tax rates are higher a negative impact of taxation on economic growth could be expected. Despite the fact that the most of the existing studies find a negative linear relationship between these variables, we can also find strong support for a non-linear relationship from several theoretical models as well as some empirical studies. Based on panel data fixed-effects econometric models, we, as well, find empirical evidence for a non-linear relationship between nominal and effective corporate tax rates and economic growth. Our data consists of annual observations for the period 1999 to 2011 for EU Member States. Based on the results, we also estimated the optimal level of the corporate tax rate in terms of maximizing economic growth in the average of the EU countries.

  18. Taxes and Economic Growth in Developing Countries : A Dynamic Panel Approach

    OpenAIRE

    NANTOB, N'Yilimon

    2014-01-01

    This paper looks at the effects of taxes increase on economic growth of 47 developing countries. In developing countries, there is no magic tax strategy to encourage economic growth. Some countries with high tax burdens have high growth rates and some countries with low tax burdens have low growth rates. Despite much theoretical and empirical inquiry as well as political and policy controversy, no simple answer exists concerning the relationship of taxes on economic growth in developing count...

  19. Does globalization contribute to economic growth in developing ...

    African Journals Online (AJOL)

    This paper examines empirically whether or not globalization contributes to economic growth in developing countries, drawing empirical lessons from Nigeria. The globalization – growth link, is anchored on Husain Schematic representation, Solow model, and the new growth (endogenous growth) theory. The paper adopts ...

  20. From entrepreneurship to economic growth: a three stage approach

    NARCIS (Netherlands)

    van Hemert, P.P.

    2008-01-01

    Over time, different economic theories have supported the idea that entrepreneurship and innovation are essential for spurring economic growth. One question, however, remains unanswered, namely, why some regions in different parts of the world manage to enter into a cycle of growth and development

  1. From entrepreneurship to economic growth, a three stage approach

    NARCIS (Netherlands)

    van Hemert, P.P.

    2007-01-01

    Over time, different economic theories have supported the idea that entrepreneurship and innovation are essential for spurring economic growth. One question, however, remains unanswered, namely, why some regions in different parts of the world manage to enter into a cycle of growth and development

  2. Knowledge Spillovers and Economic Growth

    NARCIS (Netherlands)

    A.J. van Stel (André); H.R. Nieuwenhuijsen

    2002-01-01

    textabstractThe importance of knowledge spillovers for achieving innovation and economic growth is widely recognized. It is not straightforward which type of spillovers is most effective: intra-sectoral spillovers or inter-sectoral spillovers. We investigate this controversy using a model of

  3. Intangible capital and economic growth

    NARCIS (Netherlands)

    Chen, Wen

    2016-01-01

    Modern economic growth stems in good part from investments in knowledge-based intangible assets, such as research and development (R&D), organisational know-how, product design, branding and marketing. By capitalising expenditures on these intangibles as business investments, this thesis

  4. Exports and economic growth in Nigeria

    Directory of Open Access Journals (Sweden)

    Goodly Otto

    2016-09-01

    Full Text Available Nigeria is an oil dependent economy, over 90 per cent of its exports receipts in recent years flow from petroleum but this sector is currently affected by local challenges, which include insecurity, oil thefts, sabotage and an unfriendly operational environment. These challenges are generating loses for the major producers and encouraging capital flight but amidst this situation, the economy is said to be having an impressive growth. This paradox informed this research. The study was designed to see the nexus between exports and economic growth in Nigeria. Using data from the Central Bank of Nigeria spanning 1980-2011, the study with the aid of OLS regression analysis found a strong relationship between Exports and economic growth in Nigeria. Nigeria will be better served if it diversifies its export base. It must also create structures that lead to better redistribution of export incomes within the local economy.

  5. Does education engender cultural values that matter for economic growth?

    OpenAIRE

    Prosper F. Bangwayo-Skeete; Afaf H. Rahim; Precious Zikhali

    2009-01-01

    Empirical research has shown that cultural values matter for economic growth and has specifically identified the achievement motivation as an aspect of culture that engenders economic growth. If specific cultural values engender economic growth, how then can societies promote them? This paper attempts to answer this question using the 2005 wave of the World Values Survey data for 43 countries. We test the contention that education significantly impacts the relative importance an individual pl...

  6. Analysis of domestic debt: implication for economic growth in Nigeria

    African Journals Online (AJOL)

    This paper principally analysed the importance of domestic debt on economic growth of Nigeria. The objective of the study is to investigate the relationship between government domestic debt and economic growth and policy that is likely to improve private sector investment and break growth resistance problem.

  7. Human Capital, Population Growth and Economic Development: Beyond Correlations

    OpenAIRE

    Rosenzweig, Mark R.

    1987-01-01

    Empirical evidence on three assertions commonly-made by population policy advocates about the relationships among population growth, human capital formation and economic development is discussed and evaluated in the light of economic-biological models of household behavior and of its relevance to population policy. The three assertions are that (a) population growth and human capital investments jointly reflect and respond to changes in the economic environment, (b) larger families directly i...

  8. Impact of Globalisation On Economic Growth in Romania: An Empirical Analysis of Its Economic, Social and Political Dimensions

    Directory of Open Access Journals (Sweden)

    Olimpia Neagu

    2017-04-01

    Full Text Available The paper analyses the link between globalisation and economic growth in Romania for a time span of 24 years. Data from World Bank were used in an econometrical model in order to highlight the impact of globalisation, expressed by the KOF globalisation index and its components (economic, social and political globalisation indices on economic growth rate. A statistical strong and positive link is found between GDP per capita dynamics and overall globalisation index as well as between GDP growth rate and economic and political globalisation, except the social dimension of globalisation which has a negative impact on economic growth in Romania for the time span 1990-2013.

  9. Employment and Growth | Page 17 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Making the Most of Commodities Program (sub-Saharan Africa). Language English. Read more about International Remittances, Poverty and Inequality : a Case Study of Ghana, Ivory Coast and Nigeria (West Africa). Language English. Read more about ...

  10. Employment and Growth | Page 21 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about Social Protection and Labour Market Outcomes of Youth in South Africa. Language English. Read more about Job Creation in African Agriculture. Language English. Read more about Création d'emplois dans l'agriculture africaine. Language French.

  11. Employment and Growth | Page 48 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Language English. Read more about Formal and Informal Employment Growth in Manufacturing (India and Bangladesh). Language English. Read more about Promoting Trade in Services in the Middle East and North Africa : Pilot Project. Language English. Read more about Transnational Migration of Vietnamese Women ...

  12. Analysis of Fiji’s Export and Its Impact on Economic Growth

    Directory of Open Access Journals (Sweden)

    Shivneil Kumar Raj

    2017-05-01

    Full Text Available Exports are vital for Fiji’s economy as it contributes significantly to its gross domestic product (GDP and economic growth. The export data over the years show very slow growth and is gradually increasing. Fiji’s GDP data show that GDP is gradually increasing. Thus, Fiji’s economic growth is also increasing at a steady rate. This study aims to measure the relationship between exports and economic growth in Fiji. A regression analysis on data collected for Fiji from 2000-2015 shows that there is a strong positive relationship between exports and economic growth. Thus, when exports increase, economic growth also increases. Potential sectors that can be further developed to boost Fiji’s exports are sugar, garment, tourism and agriculture. The government should restrict imports through import quotas, tariffs and embargoes and give subsidies and tax incentives to potential export sectors to boost domestic production and increase exports. The government’s motive is to increase export incentives and promote Fiji made products both locally and overseas. Thus, this leads to an increase in exports, improves the trade balance and economic growth. This research article was undertaken to carry out research to investigate the link between Fiji’s export and economic growth and highlight ways and potential sectors to increase Fiji’s export and reduce imports.

  13. [The evolution of employment in Mexico: 1895-1980].

    Science.gov (United States)

    Rendon, T; Salas, C

    1987-01-01

    Employment figures from the Mexican national census are the basis for this analysis of employment changes in Mexico between 1895-1980. The work identifies longterm trends in the volume and composition of employment and distinguishes 3 main periods in the evolution of employment. The first period, from 1895-1930, marked the end of a stage of development lasting until about 1907 in which sufficient internal stability was achieved to support Mexico's entrance into the world market. Export of agricultural products and metals was the principal focus of economic growth. Construction of roads and railroads was a central element of progress. But economic and social problems manifested in regional disparities, concentration of wealth, conflicts between economic sectors, low pay for agricultural workers, and fierce social and political control characterized the period and culminated in the Mexican Revolution. After the first decade of the 20th century the ability of the economy to absorb new workers began to decline, and the falling of crude activity rates was not reversed until the 1940s. During the 1920s, total employment increased less than 6%, reflecting a net increase of 403,000 male workers and a decrease of 110,000 female workers. The second major period of employment from 1930-1970 saw the change from an economy based on export of primary products to one based on manufacturing for the internal market. There were 2 subperiods, a stage of transition from 1930-50, the economy registered marked fluctuations, but by the 1940s the consolidation of state power and important reforms permitting expansion of the internal market were factors in an accelerated growth of employment relative to the preceding intercensal period. Despite considerable increases in agricultural employment, the relative share of the agricultural sector in total employment was beginning a decline. Employment registered the highest growth rates of the century in the 1940s and exceeded population growth

  14. CURRENT ACCOUNT DEFICIT AND ECONOMIC GROWTH IN ARMENIA

    Directory of Open Access Journals (Sweden)

    Arus Tunian

    2015-07-01

    Full Text Available The article is devoted to the study of the problem of economic growth in Armenia. It is identified the nature of the balance of payments of the country, indicating a net debtor position, which leads to inherent deterioration of the international investment position. A small open economy of Armenia moves to a new phase of development, in the frame of the integration processes within the Customs Union and the Eurasian Economic Union of Russia, Belarus and Kazakhstan. One of the main characteristics of the Armenian economy vulnerability remains a negative balance in foreign trade, which continues to grow, despite the export growth. Economic growth is provided, as before, mostly due to the sale of raw materials - non-ferrous metals and metal ores, both in the primary as well as in the previous preprocessing. Estimating the econometric VAR models revealed that the negative current account impacts on GDP growth negatively.

  15. The causal relationship between energy consumption and economic growth in Lebanon

    International Nuclear Information System (INIS)

    Dagher, Leila; Yacoubian, Talar

    2012-01-01

    This paper investigates the dynamic causal relationship between energy consumption and economic growth in Lebanon over the period 1980–2009. Within a bivariate framework, imposed on us due to data limitations, and in an effort to increase the robustness of our results, we employ a variety of causality tests, namely, Hsiao, Toda-Yamamoto, and vector error correction based Granger causality tests. We find strong evidence of a bidirectional relationship both in the short-run and in the long-run, indicating that energy is a limiting factor to economic growth in Lebanon. From a policy perspective, the confirmation of the feedback hypothesis warns against the use of policy instruments geared towards restricting energy consumption, as these may lead to adverse effects on economic growth. Consequently, there is a pressing need to revise the current national energy policy that calls for a 5% energy conservation target. Also, to shield the country from external supply shocks, given its substantial dependence on energy imports, policymakers should emphasize the development of domestic energy resources. Further, the most pertinent implication is that relaxing the present electric capacity shortages should be made a national priority, in view of its potential positive effect on the economy. - Highlights: ► We investigate the energy-GDP nexus for Lebanon. ► Evidence of a bidirectional relationship both in the short- and the long-run is found. ► Reducing outages by expanding electric capacity should thus be prioritized. ► The energy plan calling for a 5% reduction in energy consumption needs to be revised. ► Development of domestic energy sources will help in mitigating energy supply shocks.

  16. Employment and Growth | Page 32 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Can social protection through cash transfers help Ghana address the widening gap ... Its national surveys and findings help governments understand what ... The impact of demographic change on economic growth in Kenya and South Africa is the ... shocks and can invest in health, education, or even their own businesses.

  17. Investment in Education and Economic Growth in Nigeria: 1981-2012

    African Journals Online (AJOL)

    This study examines the impact of government investments in education on economic growth in Nigeria over the period 1981-2012. Economic growth proxy by growth rate of GDP is the dependent variable while government capital expenditure on social services, recurrent expenditure on education, primary school total pupil ...

  18. A panel study of nuclear energy consumption and economic growth

    International Nuclear Information System (INIS)

    Apergis, Nicholas; Payne, James E.

    2010-01-01

    This study examines the relationship between nuclear energy consumption and economic growth for sixteen countries within a multivariate panel framework over the period 1980-2005. Pedroni's (1999, 2004) heterogeneous panel cointegration test reveals there is a long-run equilibrium relationship between real GDP, nuclear energy consumption, real gross fixed capital formation, and the labor force with the respective coefficients positive and statistically significant. The results of the panel vector error correction model finds bidirectional causality between nuclear energy consumption and economic growth in the short-run while unidirectional causality from nuclear energy consumption to economic growth in the long-run. Thus, the results provide support for the feedback hypothesis associated with the relationship between nuclear energy consumption and economic growth.

  19. EMPLOYMENT GROWTH AND THE ALLOCATION OF NEW JOBS: EVIDENCE FROM THE SOUTH

    OpenAIRE

    Renkow, Mitch

    2003-01-01

    A county-level labor market model is estimated for the thirteen Southern states. The model accounts for inter-county commuting, migration, and within-county adjustments to labor demand shocks. Econometric results indicate that most employment growth (60-70%) during the 1990s was accommodated by changes in commuting flows. The results also suggest that labor force growth - and, by extension, population growth and associated fiscal impacts - in rural counties is sensitive to employment growth i...

  20. Energy consumption and economic growth nexus for 17 highly developed OECD countries: Further evidence based on bootstrap-corrected causality tests

    International Nuclear Information System (INIS)

    Yildirim, Ertugrul; Aslan, Alper

    2012-01-01

    Unlike previous energy consumption-economic growth studies, this study examines the relationship among energy consumption, economic growth, employment and gross fixed capital formation for 17 highly developed OECD countries by employing both the Toda–Yamamoto procedure which based on asymptotic critical values and the bootstrap-corrected causality test, since non-normality of the error term harms the validity of the Toda–Yamamoto procedure. This study finds that there is very small bias due to the assumption of normality. Furthermore using different information criterions, importance of lag length is tested. Findings indicate that selection of lag length is important for Denmark, Ireland, Norway and Spain. It is concluded that while there exists uni-directional causality running from energy consumption to real GDP for Japan, bi-directional causality is found for Italy, New Zealand, Norway and Spain. On the other hand, uni-directional causality from GDP to energy is found for Australia, Canada and Ireland whereas no causal nexus is found for all of other nine countries. Our analyses covering the sample periods imply that Japan, Italy, New Zealand, Norway and Spain should not follow energy conservation policy at the aggregated level, since the reduction of energy damages the economic growth. - Highlights: ► This study examines energy consumption, economic growth linkage for 17 developed OECD countries. ► Lag length selection is important for Denmark, Ireland, Norway and Spain. ► There exists uni-directional causality running from energy consumption to real GDP for Japan. ► Bi-directional causality is found for Italy, New Zealand, Norway and Spain.

  1. Economic Growth and Government Spending Nexus: Empirical ...

    African Journals Online (AJOL)

    The results highlight the need for policy makers to shift public outlays towards investment in physical infrastructure which will stimulate growth and consequently improve fiscal sustainability as opposed to recurrent expenditure. Keywords: Economic Growth, Fiscal Policy, Cointegration, Causality, Wagner' Law ...

  2. Does Economic Growth Reduce Childhood Undernutrition in Ethiopia?

    Directory of Open Access Journals (Sweden)

    Sibhatu Biadgilign

    Full Text Available Policy discussions and debates in the last couple of decades emphasized efficiency of development policies for translating economic growth to development. One of the key aspects in this regard in the developing world is achieving improved nutrition through economic development. Nonetheless, there is a dearth of literature that empirically verifies the association between economic growth and reduction of childhood undernutrition in low- and middle-income countries. Thus, the aim of the study is to assess the interplay between economic growth and reduction of childhood undernutrition in Ethiopia.The study used pooled data of three rounds (2000, 2005 and 2010 from the Demographic and Health Surveys (DHS of Ethiopia. A multilevel mixed logistic regression model with robust standard errors was utilized in order to account for the hierarchical nature of the data. The dependent variables were stunting, underweight, and wasting in children in the household. The main independent variable was real per capita income (PCI that was adjusted for purchasing power parity. This information was obtained from World Bank.A total of 32,610 children were included in the pooled analysis. Overall, 11,296 (46.7% [46.0%-47.3%], 8,197(33.8% [33.2%-34.4%] and 3,175(13.1% [12.7%-13.5%] were stunted, underweight, and wasted, respectively. We found a strong correlation between prevalence of early childhood undernutrition outcomes and real per capita income (PCI. The proportions of stunting (r = -0.1207, p<0.0001, wasting (r = -0.0338, p<0.0001 and underweight (r = -0.1035, p<0.0001 from the total children in the household were negatively correlated with the PCI. In the final model adjustment with all the covariates, economic growth substantially reduced stunting [β = -0.0016, SE = 0.00013, p<0.0001], underweight [β = -0.0014, SE = 0.0002, p<0.0001] and wasting [β = -0.0008, SE = 0.0002, p<0.0001] in Ethiopia over a decade.Economic growth reduces child undernutrition in

  3. Nuclear energy-economic growth nexus in OECD countries. A panel data analysis

    International Nuclear Information System (INIS)

    Ozcan, Burcu; Ari, Ayse

    2016-01-01

    The relationship between nuclear energy consumption and economic growth in 13 OECD countries from 1980 to 2012 is analyzed. The panel causality results supported the feedback hypothesis in both the short-run and long-run. There is a positive relationship between nuclear energy consumption and economic growth. As such, nuclear energy consumption and economic growth complement and reinforce each other. Nuclear energy conservation policies may negatively affect economic growth rates.

  4. Nuclear energy-economic growth nexus in OECD countries. A panel data analysis

    Energy Technology Data Exchange (ETDEWEB)

    Ozcan, Burcu [Firat Univ., Elazig (Turkey). Dept. of Economics; Ari, Ayse [Nigde Univ. (Turkey). Dept. of Economics

    2016-01-15

    The relationship between nuclear energy consumption and economic growth in 13 OECD countries from 1980 to 2012 is analyzed. The panel causality results supported the feedback hypothesis in both the short-run and long-run. There is a positive relationship between nuclear energy consumption and economic growth. As such, nuclear energy consumption and economic growth complement and reinforce each other. Nuclear energy conservation policies may negatively affect economic growth rates.

  5. 136 Tax Revenue, Stock Market and Economic Growth of Pakistan

    Directory of Open Access Journals (Sweden)

    Muhammad Irfan Javaid Attari

    2014-10-01

    Full Text Available The purpose of this paper is to examine the effects of capital market and fiscal policy influences in determining the nexus of economic growth in Pakistan from July 2003 to July 2012. The authors utilize ADF unit root test, Johansen Cointegration test, VECM test, Granger causality test and variance decomposition analysis to test the relationship among tax revenue, stock market and economic growth in Pakistan. Granger causality analysis is used to answer questions whether “Does tax revenue cause the economic growth?” or “Does tax revenue cause the capital market?”. The results demonstrate that there is a bidirectional casualty between tax revenue and economic growth; and a unidirectional causality from capital market to tax revenue. The estimated result shows that growth of Pakistan economy is strongly contributed from the high collection of direct tax revenue and the development of financial market activity. The findings of this paper have important implications to current and potential investors in Pakistan economy to understand the economic condition of Pakistan and to assist them in making their investment decision.

  6. Handbook for Home Economics Pre-Employment Laboratory Education Teachers.

    Science.gov (United States)

    Texas Tech Univ., Lubbock. Home Economics Instructional Materials Center.

    This handbook for home economics pre-employment laboratory education (PELE) teachers is divided into ten chapters. The first chapter provides detailed descriptions of each PELE program and possible career opportunities related to each program. Chapter 2 expounds upon the importance of the advisory council to the program. The third chapter…

  7. Banks and economic growth in developing countries: What about Islamic banks?

    Directory of Open Access Journals (Sweden)

    Saida Daly

    2016-12-01

    Full Text Available Islamic banks (IBs have a significant role in the growth of gross domestic product of the developing countries. The Islamic participatory schemes integrate the assets of lenders and borrowers. They allow enable IBs to lend on a longer term basis to create projects with higher risk-return profiles and, thus, to support economic growth. Our investigation examines the contribution of Islamic finance in economic growth. Using a panel data-set, we compare between IBs and conventional banks in their adding to economic growth. We studied a sample of 120 banks between 2005 and 2012. By means of three ordinary least-square regressions, our empirical investigation reveals that the development of non-usurious banks supports economic growth. Moreover, the cooperation between the two financing modes improves economic growth. The integration of this new funding never neglected the role of the conventional method of financing. The practice of IBs is also away from their theoretical mode in terms of participation results.

  8. DOES STOCK MARKET DEVELOPMENT PLAY ANY ROLE IN THE EFFECT OF FDI ON ECONOMIC GROWTH IN NIGERIA? AN EMPIRICAL INVESTIGATION

    Directory of Open Access Journals (Sweden)

    Oziengbe Scott Aigheyisi

    2016-09-01

    Full Text Available The objective of the paper is to investigate whether stock market development plays any role in the effect of foreign direct investment (FDI on economic growth in Nigeria. Using annual time series data that span the period from 1981 to 2014, and employing the fully modified ordinary least squares (FMOLS estimation technique, the empirical evidence indicates that FDI, domestic investment and stock market development positively and significantly affect economic growth, but the effect of the interaction between stock market development and FDI on economic growth is negative and significant, indicating that the Nigerian bourse is not yet fully developed to engender positive growth effect of FDI. The study further finds that government consumption expenditure and trade openness adversely affect the growth of the country’s real GDP per capita. Recommendations of the paper include efforts by the government to design and implement programmes and policies aimed at enhancing the attractiveness of the country to foreign and local investors, efforts by capital market regulators to enhance stock market efficiency, reduction of government consumption expenditures and import control.

  9. Financial Liberalization and Economic Growth

    NARCIS (Netherlands)

    Bumann, S.; Hermes, N.; Lensink, B.W.

    2013-01-01

    This study provides a systematic analysis of the empirical literature on the relationship between financial liberalization and economic growth by conducting a meta-analysis, based on 441 t-statistics reported in 60 empirical studies. We focus on explaining the heterogeneity of results in our sample

  10. Promoting Debates on Economic Growth and Poverty Reduction in ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Promoting Debates on Economic Growth and Poverty Reduction in Eastern Africa through Strengthening the Links between Research and the Media. Policy researchers have a key role to play in insuring that economic growth and poverty reduction plans are responsive to the needs and interests of poor people. They can ...

  11. Justifying the Ivory Tower: Higher Education and State Economic Growth

    Science.gov (United States)

    Baldwin, J. Norman; McCracken, William A., III

    2013-01-01

    As the U.S. continues to embrace a comprehensive plan for economic recovery, this article investigates the validity of the claim that investing in higher education will help restore state economic growth and prosperity. It presents the findings from a study that indicates that the most consistent predictors of state economic growth related to…

  12. Institutions and economic growth : summary and synthesis

    NARCIS (Netherlands)

    Szirmai, A.

    2013-01-01

    This paper provides a summary, overview and synthesis of the findings of the second phase of the AFD/Maastricht Graduate School of Governance research project on institutions and economic growth. The point of departure for this research project is that the diversity of longrun patterns of economic

  13. ANALYSIS OF THE ECONOMIC GROWTH TRENDS IN ROMANIA BETWEEN 2010-2012

    Directory of Open Access Journals (Sweden)

    Daniela Mihaela NEAMȚU

    2014-06-01

    Full Text Available The question: "Why some countries are richer than others?" is a crucial problem that many economists have proposed to answer. Firstly, it should be noted the fact that the economic development is a quantitative and qualitative concept with a much broader area than growth. It is good that we have economic growth and stability but it is not enough to have economic development. Why? While economic growth is measured by a small number of indicators, among which the most important is the growth rate of GDP, the economic growth implies a long-term dynamic equilibrium, a sustainable growth trajectory based on optimal use of all available resources, the continued development of innovative potential and human capital and the development of strong institutions in order to support economic growth. This study aims, by keeping the interdependence of the investigated aspects, to analyze and describe the following dimensions: GDP per capita and the average productivity per hour, the most important issues that have led to changes of GDP, where Romania is classified from the growth point of view. The study includes the results of research, statistical series and arguments about the evolution of GDP based on National Institute of Statistics and Economic Studies and the Romanian National Bank over the last three years. Finally, the paper proposes a series of lines of action for further sustainable development of our country and reducing the disparities with the EU average.

  14. Geography, demography, and economic growth in Africa.

    Science.gov (United States)

    Bloom, D E; Sachs, J D

    1998-01-01

    This paper presents the effects of climate, topography, and natural ecology on public health, nutrition, demographics, technological diffusion, international trade and other determinants of economic development in Africa. The goal of this paper is to emphasize the need for intensified research on the issues at the intersection of ecology and human society. Geography was given emphasis because of three reasons: the minimal gain from another recitation of the damage caused by statism, protectionism and corruption to African economic performance; negligence of the role of natural forces in shaping economic performance; and tailoring of policies to geographical realities. The paper also discusses the general problems of tropical development and the focus of Africa's problems in worldwide tropical perspectives; demographic trends in Africa; use of standard cross-country growth equations with demographic and geographic variables, to account for the relative roles of geography; and the future growth strategies and the need for urban-based export growth in manufacturing and services. Lastly, the authors provide a summary of conclusions and discuss the agenda for future research.

  15. Life Insurance Contribution, Insurance Development and Economic Growth in China

    Directory of Open Access Journals (Sweden)

    Wang Ying

    2017-07-01

    Full Text Available Under L-type economy, remodelling the growth power in the medium and long term is essential. The insurance industry during the 13th Five-year Plan period has been given a heavy expectation on promoting economic quality and upgrading economic efficiency, so it will try to accelerate its innovation and development process which serves national needs, market demand and people's requirements. Referring to the previous researches of Solow and Zhang and measuring Capital Stock and Total Factor Productivity independently, the paper analyses the inherent correlation between insurance (including life insurance and non-life insurance and economic growth, reveals the contribution law of the insurance development in economic growth in the short and long term from both economic scale and quality respectively. It also shows enlightenments on policy decision for insurance industry, thus helps economic stability under the downturn periods.

  16. The Political Economy of Recent Economic Growth in India

    OpenAIRE

    Raghbendra Jha

    2004-01-01

    The political economy of India’s economic growth is an issue of abiding interest. Higher and sustained economic growth has, all over the world, been the surest and most time tested means of raising living standards and reducing poverty. Further, given that it is a functioning democracy, economic policy in India can often be dictated by political expediency as political parties indulge in competitive populism in the face of improvements in social indicators such as literacy, infant mortality a...

  17. Law, Economic Growth and Human Development: Evidence from Africa

    OpenAIRE

    Asongu Simplice

    2011-01-01

    This paper cuts adrift the mainstream approach to the legal-origins debate on the law-growth nexus by integrating both overall economic and human components in our understanding of how regulation quality and the rule of law lie at the heart of economic and inequality adjusted human developments. Findings summarily reveal that legal-origin does not explain economic growth and human development beyond the mechanisms of law. Our results support the current consensus that, English common-law coun...

  18. Political institutions as substitute for democracy: a political economy analysis of economic growth

    OpenAIRE

    Pereira, Carlos; Teles, Vladimir Kühl

    2009-01-01

    This manuscript empirically assesses the effects of political institutions on economic growth. It analyzes how political institutions affect economic growth in different stages of democratization and economic development by means of dynamic panel estimation with interaction terms. The new empirical results obtained show that political institutions work as a substitute for democracy promoting economic growth. In other words, political institutions are important for increasing economic growth, ...

  19. Employment and Growth | Page 40 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Since the 1990s, foreign direct investment (FDI) has been on the rise worldwide. By 2008, the world's FDI flows amounted to about $1.7 trillion (although they are expected to go below $1.2 trillion in 2009 during the economic downturn). Read more about Smallish foreign direct investment, sluggish growth: Can MERCOSUR ...

  20. Economic growth and technological change : an evolutionary interpretation

    NARCIS (Netherlands)

    Verspagen, B.

    2000-01-01

    The aim of this paper is to apply insights from evolutionary economic theory to the question of what can explain recent trends in economic growth, with emphasis on the role of technological change. Obviously, a basic question that precedes this question is "what is evolutionary economic theory"? The

  1. Islam and Economic Growth in Malaysia

    National Research Council Canada - National Science Library

    bin

    2003-01-01

    .... This thesis discusses nation building by fusing Islam, pluralism, democracy, and modernity. It argues that Malaysia's religious tolerance and adherence to western development models fostered economic growth since its independence...

  2. The Impact of Employment and Self-Rated Economic Condition on the Subjective Well-Being of Older Korean Immigrants.

    Science.gov (United States)

    Kim, Bum Jung; Lee, Yura; Sangalang, Cindy; Harris, Lesley M

    2015-09-01

    Extensive research has demonstrated a relationship between socioeconomic factors and health among older adults, yet fewer studies have explored this relationship with older immigrants. This study aims to examine the influence of employment and self-rated economic condition on the subjective well-being of older Korean immigrants in the United States. Data were drawn from a cross-sectional study of 205 older Korean immigrants, aged 65 to 90, in Los Angeles County. Hierarchical regression was employed to explore the independent and interactive effects of employment status and self-rated economic condition. The study found that employment and self-rated economic status were positively associated with subjective well-being. Also, the interaction between employment and self-rated economic status was significantly associated with higher levels of subjective well-being, such that the influence of self-rated economic condition was stronger for unemployed older Korean immigrants compared with those who were employed. This population-based study provides empirical evidence that employment and self-rated economic condition are directly associated with subjective well-being for older Korean immigrants. © The Author(s) 2015.

  3. Impact of Currency Devaluation on Economic Growth of Nigeria ...

    African Journals Online (AJOL)

    The primary aim of the study is to estimate the long run relationship between economic growth (RGDP) and currency devaluation. This study investigated the impact of currency devaluation on economic growth of Nigeria. This was achieved through a review of literature and a test of hypothesis. In order to generate the ...

  4. Education and Youth Employment in Less Developed Countries.

    Science.gov (United States)

    Medina, Alberto Hernandez; And Others

    The education/employment situations of young people in Mexico and South Asia are examined as part of a project to broaden perspectives on social, educational, and employment issues in developing nations. In Mexico, economic growth between 1940 and 1970 was considerably greater than achievement of social goals such as full employment and…

  5. Financial deepening and economic growth in nigeria (1981-2012: A managerial economic perspective

    Directory of Open Access Journals (Sweden)

    Anthony Igwe

    2014-12-01

    Full Text Available The objective of this study is to determine the impact of financial deepening on economic growth in Nigeria. The supply leading hypothesis was adopted as the theoretical framework of the study. Data for analysis was for the period 1981-2012 obtained from the Central Bank of Nigeria Statistical Bulletin. The explanatory variables were logged values of broad money supply/GDP and Credit to the private sector/GDP. The times series data were tested for stationarity using the ADF unit root tests of stationarity and were found to be stationary at first difference. The Engle-Granger Cointegration technique and Error correction model were used for the test of long run relationship. Findings reveal that money supply (MS is positive and weakly significant in determining economic growth. However, credit to the private sector was negative and not significant in the short run. The speed of adjustment of the ECM is 25.51%. This implies that if there are short run fluctuations, GDP will converge to its long run equilibrium path at a speed of about 25.51% in each period .The conclusion is that financial deepening does not have the desired impact on economic growth in Nigeria. Hence, there is a need for increase and improvement in access to private credit to enhance economic growth and investment

  6. Economic growth and mortality: do social protection policies matter?

    Science.gov (United States)

    Bilal, Usama; Cooper, Richard; Abreu, Francis; Nau, Claudia; Franco, Manuel; Glass, Thomas A

    2017-08-01

    In the 20th century, periods of macroeconomic growth have been associated with increases in population mortality. Factors that cause or mitigate this association are not well understood. Evidence suggests that social policy may buffer the deleterious impact of economic growth. We sought to explore associations between changing unemployment (as a proxy for economic change) and trends in mortality over 30 years in the context of varying social protection expenditures. We model change in all-cause mortality in 21 OECD (Organization for Economic Cooperation and Development) countries from 1980 to 2010. Data from the Comparative Welfare States Data Set and the WHO Mortality Database were used. A decrease in the unemployment rate was used as a proxy for economic growth and age-adjusted mortality rates as the outcome. Social protection expenditure was measured as percentage of gross domestic product expended. A 1% decrease in unemployment (i.e. the proxy for economic growth) was associated with a 0.24% increase in the overall mortality rate (95% confidence interval: 0.07;0.42) in countries with no changes in social protection. Reductions in social protection expenditure strengthened this association between unemployment and mortality. The magnitude of the association was diminished over time. Our results are consistent with the hypothesis that social protection policies that accompany economic growth can mitigate its potential deleterious effects on health. Further research should identify specific policies that are most effective. © The Author 2017; all rights reserved. Published by Oxford University Press on behalf of the International Epidemiological Association

  7. Determinants of Economic Growth in Malaysia 1970-2010

    OpenAIRE

    Fauzi HUSSIN; Norazrul Mat ROS; Mohd Saifoul Zamzuri NOOR

    2013-01-01

    This paper investigates the determinants of economic growth in Malaysia. Trade openness, foreign direct investment, government development expenditure and gross fixed capital formation are used as indicators of economic growth. The study used time series data for the period 1970 to 2010. The Johansen and Juselius cointegration approach was applied to determine the long-run relationship between the variables. The study found that trade openness and foreign direct investment have significant bu...

  8. Electricity consumption and economic growth nexus in Bangladesh: Revisited evidences

    Energy Technology Data Exchange (ETDEWEB)

    Ahamad, Mazbahul Golam, E-mail: mg.ahamad@gmail.com [Research Division, Centre for Policy Dialogue (CPD), House: 40C, Road: 11, Dhanmondi, Dhaka 1209 (Bangladesh); Islam, A.K.M. Nazrul, E-mail: nazrul2002@yahoo.com [Research Division, Centre for Policy Dialogue (CPD), House: 40C, Road: 11, Dhanmondi, Dhaka 1209 (Bangladesh)

    2011-10-15

    In this paper, an attempt is being made to examine the causal relationship between per capita electricity consumption and per capita GDP of Bangladesh using the vector error correction specified Granger causality test to search their short-run, long-run and joint causal relationships for the period of 1971-2008. Empirical findings reveal that there is a short-run unidirectional causal flow running from per capita electricity consumption to per capita GDP without feedback. The presence of a positive short-run causality explains that an increase in electricity consumption directly affects economic activity in Bangladesh. Likewise, results from joint causality exhibit the same as in short-run. By contrast, long-run results show a bi-directional causality running from electricity consumption to economic growth with feedback. These findings can provide essential policy insights to design immediate and long-term growth prospect for Bangladesh keeping in mind its present planned growth strategy and dismal power and energy sector. - Highlights: > Short-run causality running from electricity consumption to economic growth. > Positive SR causality explains electricity generation directly affects economic growth. > For long run, causality runs from electricity consumption to economic growth with feedback. > Joint causality implies the same as in short-run.

  9. Electricity consumption and economic growth nexus in Bangladesh: Revisited evidences

    International Nuclear Information System (INIS)

    Ahamad, Mazbahul Golam; Islam, A.K.M. Nazrul

    2011-01-01

    In this paper, an attempt is being made to examine the causal relationship between per capita electricity consumption and per capita GDP of Bangladesh using the vector error correction specified Granger causality test to search their short-run, long-run and joint causal relationships for the period of 1971-2008. Empirical findings reveal that there is a short-run unidirectional causal flow running from per capita electricity consumption to per capita GDP without feedback. The presence of a positive short-run causality explains that an increase in electricity consumption directly affects economic activity in Bangladesh. Likewise, results from joint causality exhibit the same as in short-run. By contrast, long-run results show a bi-directional causality running from electricity consumption to economic growth with feedback. These findings can provide essential policy insights to design immediate and long-term growth prospect for Bangladesh keeping in mind its present planned growth strategy and dismal power and energy sector. - Highlights: → Short-run causality running from electricity consumption to economic growth. → Positive SR causality explains electricity generation directly affects economic growth. → For long run, causality runs from electricity consumption to economic growth with feedback. → Joint causality implies the same as in short-run.

  10. China and India: Openness, Trade and Effects on Economic Growth

    Directory of Open Access Journals (Sweden)

    Marelli, Enrico

    2011-06-01

    Full Text Available The purpose of this paper is to analyse the economic growth of China and India in terms of their integration in the global economy. We begin with a discussion of some stylized facts concerning their recent economic growth, the most significant institutional reforms, with particular reference to trade relations, and their impact on their economic development. We then propose a descriptive analysis of economic growth, opening up of the economies and trade specialisation, by comparing the features and trends of the two countries (by considering trade and foreign direct investment data. We have also estimated some econometric relations between economic growth and trade/openness, with the addition of control variables (such as the gross fixed capital formation. We initially used a panel data model for the two countries, to be estimated with fixed effects; to test for reverse causality, we re-estimated the fixed effects model by 2SLS (with the inclusion of specific instrumental variables. The effect on economic growth (in terms of GDP per capita of our variables of interest - Openness and FDI - remains positive and statistically significant in all specifications, which confirms our findings even if we treat these variables as endogenous variables. The results prove the positive growth effects, for the two countries, of opening up and integrating in the world economy. Note that the robust growth of these two "giants" has contained the initial impact of the recent global crisis and is now sustaining the recovery of the entire world economy. Other policy relevant implications are discussed in the concluding section.

  11. Evolving Importance of Securities Market to Ensure Economic Growth: Evidence from Armenia

    Directory of Open Access Journals (Sweden)

    Salnazaryan Ashot

    2017-12-01

    Full Text Available This research aims to reveal the importance of securities market in ensuring economic growth in Armenia. In order to make the research more substantial, we also examined the impact of other financial market segments, such as insurance market and credit market, on the economic growth. To estimate the relationship between financial market segments and economic growth, an empirical research was conducted using correlation and regression techniques. The research reveals that the most significant impact on the economic growth among Armenian financial market segments has the credit market of Armenia. There is no significant relationship between economic growth and insurance, as well as corporate securities market. It is pointed out in the research, that the evolving importance of the role of securities market in the economic growth is not yet demonstrated in Armenia, which, perhaps, results from the absence of interaction between securities market and economy in Armenia.

  12. Back to oil: Indonesia economic growth after Asian financial crisis

    Directory of Open Access Journals (Sweden)

    Heru Iswahyudi

    2016-04-01

    Full Text Available This paper examines the growth experience of Indonesia in the years before and after the Asian financial crisis. Particular attention is paid to the relationship between economic growth and petroleum sector’s total factor productivity (TFP. It finds the possibility that post-crisis Indonesian economic growth has ‘recoupled’ with petroleum sector’s TFP – fluctuations in petroleum TFP is directly correlated with fluctuations in economic growth. Further, although keeping Indonesia’s petroleum sector open to fair competition should be the prime policy, the fact regarding resource nationalism might need to be taken into account in designing the policy to develop the productivity of Indonesia’s petroleum sector.

  13. Employment and Growth | Page 2 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Home · Inclusive Economies. Employment and Growth. Language English. Read more about Évaluation de l'incidence des programmes de transferts en espèces sur l'autonomisation des femmes en Tanzanie. Language French. Read more about Les femmes et la transition au marché du travail en Afrique subsaharienne.

  14. Some Peculiarities of the Economic Growth in ECOWAS Countries

    Directory of Open Access Journals (Sweden)

    Babacar NDIAYE

    2017-12-01

    Full Text Available This article seeks to determine some of the peculiarities of the economic growth in the countries from the Economic Community of West African States (ECOWAS. Thus, the study is based on the country approach and uses econometric regression tests. In fact, in the context of the determination of the real GDP per capita growth rate of the countries in this region during the period 1987-2014, the results obtained show that it is still weak and unstable. Moreover, the weak convergence that has only been observed beginning with 2008 feeds the hope that ECOWAS can truly improve its level of development despite the heterogeneous nature of the countries. In order to overcome these difficulties, improving the socio-economic performance through the growth rate of real GDP per capita represents, among others, a necessity in relation to economic policy decisions.

  15. End-of-the-Year Economic Growth and Time-varying Expected Returns

    DEFF Research Database (Denmark)

    Møller, Stig Vinther; Rangvid, Jesper

    . To explain these results, we show as the second main fi?nding of our paper that economic growth and growth in economic confidence (consumer con?dence and business con?dence) are strongly correlated during the fourth quarter, but not during the other quarters. In summary, we therefore show that when economic......We show that macroeconomic growth at the end of the year (fourth-quarter or December) strongly predicts the returns of the aggregate market, small- and large-cap stocks, portfolios sorted on book-to-market and dividend yields, bond returns, and international stock returns, whereas economic growth...... during the rest of the year does not predict returns. End-of-the-year economic growth rates contain considerably more information about expected returns than standard variables used to predict returns, are robust to the choice of macro variables, and work in-sample, out-of-sample, and in subsamples...

  16. End-of-the-year economic growth and time-varying expected returns

    DEFF Research Database (Denmark)

    Møller, Stig Vinther; Rangvid, Jesper

    . To explain these results, we show as the second main fi…nding of our paper that economic growth and growth in economic confidence (consumer con…dence and business con…dence) are strongly correlated during the fourth quarter, but not during the other quarters. In summary, we therefore show that when economic......We show that macroeconomic growth at the end of the year (fourth-quarter or December) strongly predicts the returns of the aggregate market, small- and large-cap stocks, portfolios sorted on book-to-market and dividend yields, bond returns, and international stock returns, whereas economic growth...... during the rest of the year does not predict returns. End-of-the-year economic growth rates contain considerably more information about expected returns than standard variables used to predict returns, are robust to the choice of macro variables, and work in-sample, out-of-sample, and in subsamples...

  17. Multilevel approaches and the firm-agglomeration ambiguity in economic growth studies

    NARCIS (Netherlands)

    Oort, F.G. van; Burger, M.J.; Knoben, J.; Raspe, O.

    2012-01-01

    Empirical studies in spatial economics have shown that agglomeration economies may be a source of the uneven distribution of economic activities and economic growth across cities and regions. Both localization and urbanization economies are hypothesized to foster agglomeration and growth, but

  18. Budget Deficits Effects on Economic Growth

    Directory of Open Access Journals (Sweden)

    L.C.Risti

    2013-06-01

    Full Text Available The budget deficit can not be analyzed autarchically, as it affects all the macroeconomic processes and, is itself influenced by all other macroeconomic indicators. Most analyses and studies on public finance and budget balance measure the impact that budgetary deficits accumulation has on economy. Therefore, the present paper aims at following and analyzing the mutual impact between budget deficit and another economic macro indicator, namely the economic growth.

  19. Economic Growth of a Rapidly Developing Economy: Theoretical Formulation

    Directory of Open Access Journals (Sweden)

    Oleg Sergeyevich Sukharev

    2016-06-01

    Full Text Available The subject matter of the article is the description of economic growth. Modern economy is characterized by a high rate of changes. These changes are the limiting parameters of modern development, which requires a modification of the basic models of growth, the substantiation of the expediency and necessity of a rapid development strategy. In a simple mathematical form, the statement of the problem of economic growth in the “green economy” is examined, in which the costs of environmental measures are not considered a priori as hampering economic development (as it is common for a number of modern neoclassical and neo-Keynesian growth models. The methodological basis of the article are the econometric approach and modelling method. The article has a theoretical character. The main hypothesis supposes that the rapid development strategy cannot make an adequate development strategy under certain conditions, but may be acceptable in other its specific conditions. In this sense, the important growth conditions are the availability of resources, the effectiveness of institutions and the current economic structure, the technological effectiveness of economy, as well as the conditions of technological development (“green economy” and the path of such development. In the article, on the theoretical level of analysis, the substantiation of the adequacy of the rapid development strategy for an economic system is given, whose goal is to achieve the standard of living of the countryleader. Based on the assumptions introduced, the period for which the rapid development strategy might be implemented and the economic lag of the country might be reduced from the country-leader is determined. The conditions that ensure the impact of innovations on the rate of economic development are summarized. The introduced range of dependencies and relations can be useful for the elaboration of the theory of innovation development and for the formation of a new

  20. U.S. Government Supports Low Emission Economic Growth

    Energy Technology Data Exchange (ETDEWEB)

    2015-11-01

    Countries around the world face the challenge of maintaining long-term sustainable economic growth and development under the threat of climate change. By identifying and pursuing a sustainable development pathway now, they are better positioned to reach their economic growth goals while addressing climate change impacts and lowering greenhouse gas (GHG) emissions. Low emission development strategies - development plans that promote sustainable social and economic development while reducing long-term GHG emissions - provide a pathway to preparing for a global low emission future. Partner country governments are working with the U.S. government through the Enhancing Capacity for Low Emission Development Strategies (EC-LEDS) program to further their national development objectives.

  1. FDI in Tourism Sector and Economic Growth in Sumatra Utara

    Directory of Open Access Journals (Sweden)

    Parhimpunan Simatupang

    2014-09-01

    Full Text Available Globalization and neo liberal policies such as liberalization and privatization have generated a significant growth for FDI and considered an important source for capital and foreign currency, capable of spurring economic growth in developing countries. One sector that received particular attention, due to its significant contributions towards economic development, especially in Indonesia, is tourism. Tourism investments in Indonesia are mainly focused on the development of fully-integrated resort sites that help boost the construction of tourist facilities such as hotels and the development of the surrounding environment through social and cultural aspects. The total contribution of travel and tourism to GDP was IDR736.3 billion or 8.9% of GDP in 2012. Foreign direct tourism investments grew by 210% between 2011 and 2012, or at an annual compound average growth rate of 38% between 2006 and 2012. While the implications are at national level, not much could be gathered on the local perspectives. This paper intends to explore the implication of FDI in tourism sector towards economic growth in one of tourism attraction provinces in Indonesia—Sumatra Utara. Specifically, which economic factors contributed towards FDI inflows and their impacts on economic growth in Sumatra Utara.

  2. Globalization and economic growth: empirical evidence on the role of complementarities.

    Science.gov (United States)

    Samimi, Parisa; Jenatabadi, Hashem Salarzadeh

    2014-01-01

    This study was carried out to investigate the effect of economic globalization on economic growth in OIC countries. Furthermore, the study examined the effect of complementary policies on the growth effect of globalization. It also investigated whether the growth effect of globalization depends on the income level of countries. Utilizing the generalized method of moments (GMM) estimator within the framework of a dynamic panel data approach, we provide evidence which suggests that economic globalization has statistically significant impact on economic growth in OIC countries. The results indicate that this positive effect is increased in the countries with better-educated workers and well-developed financial systems. Our finding shows that the effect of economic globalization also depends on the country's level of income. High and middle-income countries benefit from globalization whereas low-income countries do not gain from it. In fact, the countries should receive the appropriate income level to be benefited from globalization. Economic globalization not only directly promotes growth but also indirectly does so via complementary reforms.

  3. Globalization and economic growth: empirical evidence on the role of complementarities.

    Directory of Open Access Journals (Sweden)

    Parisa Samimi

    Full Text Available This study was carried out to investigate the effect of economic globalization on economic growth in OIC countries. Furthermore, the study examined the effect of complementary policies on the growth effect of globalization. It also investigated whether the growth effect of globalization depends on the income level of countries. Utilizing the generalized method of moments (GMM estimator within the framework of a dynamic panel data approach, we provide evidence which suggests that economic globalization has statistically significant impact on economic growth in OIC countries. The results indicate that this positive effect is increased in the countries with better-educated workers and well-developed financial systems. Our finding shows that the effect of economic globalization also depends on the country's level of income. High and middle-income countries benefit from globalization whereas low-income countries do not gain from it. In fact, the countries should receive the appropriate income level to be benefited from globalization. Economic globalization not only directly promotes growth but also indirectly does so via complementary reforms.

  4. Multilevel approaches and the firm-agglomeration ambiguity in economic growth studies

    NARCIS (Netherlands)

    van Oort, F.G.|info:eu-repo/dai/nl/107712741; Burger, M.J.|info:eu-repo/dai/nl/371741092; Knoben, J.; Raspe, O.

    2012-01-01

    Empirical studies in spatial economics have shown that agglomeration economies may be a source of the uneven distribution of economic activities and economic growth across cities and regions. Both localization and urbanization economies are hypothesized to foster agglomeration and growth, but recent

  5. Analisa Korelasi Inflasi, Economic Growth, Economic Structure, Dan Tax Rate Terhadap Tax Revenue Di Negara-negara ASEAN

    OpenAIRE

    Lim, Richard; Toly, Agus Arianto

    2013-01-01

    Penelitian ini bertujuan untuk mengetahui korelasi dari inflasi, economic growth, economic structure serta tax rate terhadap tax revenue di negara-negara Asean. Penelitian ini adalah penelitian kuantitatif dan penelitian ini menggunakan data sekunder mengenai inflasi, economic growth, economic structure, tax rate, serta tax revenue yang diperoleh melalui website world bank yaitu http://data.worldbank.org. Sampel yang digunakan dalam penelitian ini adalah negara-negara Asean tahun 2002 sampai ...

  6. Energy scarcity and economic growth reconsidered

    International Nuclear Information System (INIS)

    Uri, N.D.

    1995-01-01

    The analysis in this paper is concerned with the effect of energy scarcity on economic growth in the United States. After defining the notion of scarcity and introducing two measures of scarcity, unit costs and relative energy price, changes in the trend in resource scarcity for natural gas, bituminous coal, anthracite coal, and crude oil over the most recent three decades are investigated. Each of the energy resources became significantly more scarce resources during the decade of the 1970s in the Malthusian Stock Scarcity and Malthusian Flow Scarcity sense. Unit costs exhibit a similar change for natural gas and crude oil but not for bituminous coal and anthracite coal. The situation reversed itself during the 1980s. Natural gas, bituminous coal, anthracite coal, and crude oil all became significantly less scarce resources during the decade of the 1980s than they had been during the 1970s. That is, the increase in scarcity as measured by relative energy prices observed during the decade of the 1970s was not reversed completely during the 1980s for natural gas and crude oil. Unit costs for natural gas and crude oil demonstrate analogous patterns and test results. Given that change has taken place, it has implications for future economic growth to the extent resource scarcity and economic growth are interrelated. (author)

  7. The Impact of Social Media on Economic Growth

    OpenAIRE

    Dell'Anno, Roberto; Rayna, Thierry; Solomon, O. Helen

    2015-01-01

    The file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link. This article attempts to investigate the impact of social media (SM) on economic growth. Using information obtained from memberships to social networks, we find that SM has a negative and significant impact on economic growth. This provides evidence in favour of our hypothesis that SM increases the search costs for information and also increase...

  8. Demographics, political power and economic growth.

    Science.gov (United States)

    Holtz-eakin, D

    1993-01-01

    "Growth theory may be used to predict the response of saving, capital formation, and output growth to large demographic shifts. Such large shifts would also be expected to alter the demand for government services and the desired levels of taxation in the population. This paper extends the overlapping-generations model of economic growth to predict the evolution of government tax and spending policy through the course of a major demographic shift. Simulations suggest that this approach may yield valuable insights into the evolution of policy in the United States and other industrialized economies." excerpt

  9. Why is electricity consumption inconsistent with economic growth in China?

    International Nuclear Information System (INIS)

    Lin, Boqiang; Liu, Chang

    2016-01-01

    Studies have indicated that there exists a relatively stable and positive correlation between electricity consumption and economic growth and there should not be a large deviation between them. However, the deviation between electricity consumption and economic growth in China during the Asian Financial Crisis and Global Economic Crisis sparks intense debates. We attempt to explain the deviation from the perspective of inventory investment adjustment in the business cycle using the SVAR model in this paper. The results show that the effects of inventory investment adjustment shock and electricity consumption structure shock on the deviation are positive but tend to be negative for electricity efficiency shock. The results of historical decomposition of these shocks also show that the inventory investment adjustment shock is the main factor that influences the deviation during the Global Economic Crisis. Economic fluctuation in the short term can not change the economic development pattern and the characteristics of electricity demand. Once the economy returns to stable growth, the deviation between electricity consumption and economic growth will shrink and disappear soon. - Highlights: • We analyze the deviation between GDP and electricity consumption in business cycle. • The inventory investment adjustment mainly impacts the deviation in China. • Concentrated electricity consumption of heavy industry magnifies the deviation.

  10. THE TERTIARY CIVILIZATION – CONCEPT OF THE ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Gabriela Liliana CIOBAN

    2014-06-01

    Full Text Available Providing services has become the most important sector of the economy and the main dynamic factor of the economic competition, within the developed countries economies. In such economies, the sector of economies has assimilated the workforce issued in the other sector, when this over plus of labor force represented simultaneously the cause of its expansion. The services have had a double part: they contribute on both the material entertainment of the labor force, as well as on maintaining the reestablishment of people’s health, to their physical and intellectual recovery, to the development of the individual, as regards the cultural and scientific points of view, and implicitly, to the growth of the living standards. For the time being, one can characterize the economies of the developed countries, as well as of many other countries in progress of development, as services oriented economies; the development and diversification of services has been determined by the need of satisfying diversified social needs. In this way, the part of services aims on becoming proportional to their contribution within the process of economic growth. One can definitely say that between services and the economic growth, a double conditioning takes place, meaning: on one hand, the development of services appears as a consequence of the economic growth, and on the other hand, it grows up the economic growth, thus contributing on diversifying the production and on improving the level of training or qualification of the labor force.

  11. Malaysia Economic Monitor, December 2016 : The Quest for Productivity Growth

    OpenAIRE

    World Bank Group

    2016-01-01

    Malaysia’s economic growth has slowed down but remains resilient to external headwinds. The economic growth rate slowed from 5 percent in 2015 to 4.2 percent, year on year, in the first three quarters of 2016. Private consumption growth slowed down due to a softening labor market and households’ ongoing adjustment to a context of fiscal consolidation. Public investment in infrastructure is...

  12. 213 The Role of Stock Market Development on Economic Growth in ...

    African Journals Online (AJOL)

    User

    posited that Douala Stock Exchange does not affect Cameroonian economic growth. Vol. ... liquidity of financial assets, make global and domestic risk diversification possible ... is a link between stock market performance and economic growth in Nigeria, ..... Economic Research (UNU-WIDER): Research Paper No.2006/102.

  13. EMPLOYMENT OF POPULATION AS A BASIC INDEX OF ECONOMIC DEVELOPMENT OF COUNTRY

    Directory of Open Access Journals (Sweden)

    Oleksandra Lysiuk

    2015-11-01

    Full Text Available The actual problem of modern economical theory and practice is a problem of guaranteeing of full employment. The aggravation of this problem during the economic crisis period stimulate the necessity of searching affective mechanism to overcome unemployment and development common form of labor. In the article the level of employment in 2005-2014 years, means of its increasing are investigated using recommendations of MOP, which were created especially for Ukraine. Statistical information from Ukrainian Government Statistical Agency was used some practical recommendations to stable situation of employment in the country were given. Methodology. Using the systematic approach the current state of employment rate in Ukraine was investigated and steps for development of labor market were found. Using the economic and statistical methods, the actual state of employment rate was studied. Information for the last 10 years about employment rate in Ukraine was studied. Information from web-site of Ukrainian Government Statistical Agency was used. Results. The results of the survey showed the rate of employment was rising from 2005 till 2008 years. After that this rate has been reducing till today. The reason of this employment crisis was determined and after that some practical recommendation about rising employment rate and stability situation at Ukrainian labor market were given. We recommend to develop some entrepreneurial activities in Ukraine, to develop self-employment, but there are many problems to start these activities. People, who want to start entrepreneurial activities have many problems with high level of taxes, with high level of payments to other social systems. And they can’t get credit, because of high percentage and short time. Many young people can’t start work without work experience. We recommend to introduce Government programs, where young people can start work with the smaller salary and get experience for developing their

  14. Linkages between Income Inequality, International Remittances and Economic Growth in Pakistan

    OpenAIRE

    Shahbaz, Muhammad; Ur Rehman, Ijaz; Ahmad Mahdzan, Nurul Shahnaz

    2013-01-01

    This paper explores the dynamic linkages between income inequality, international remittances and economic growth using time series data over the period of 1976-2006 in case of Pakistan. The cointegration analysis based on the bounds test confirms the existence of a long-run relationship between income inequality, international remittances and economic growth. Our results reveal that income inequality and international remittances enhance economic growth. The causality analysis based on innov...

  15. SUSTAINABLE ECONOMIC GROWTH AND ECO-EFFICIENCY

    Directory of Open Access Journals (Sweden)

    Mariana\tLUPAN

    2015-06-01

    Full Text Available The current economic and social contexts have brought forth the issues regarding growth and sustainability. The concept of growth has always been linked to an increase in consumption levels, and this inevitably led to pressures on the environment and on the resources that support human activity. Given these circumstances, the question whether we can avoid an environmental disaster while maintaining economic growth, has become more stringent. We chose to approach this aspect by examining the concept of eco-efficiency, a concept that embodies aspects of both economic efficiency and environmental efficiency. Eco-efficiency can be regarded as the effectiveness with which resources are used in order to create products and services that satisfy human needs. Based on this idea, the last decade has produced an increasing number of studies on eco-efficiency and how it can be measured and implemented in the production of goods and services, but also in the field regarding demand patterns. An analysis regarding the aspects of eco-efficiency at the macro level of the Romanian economy is in line with the current environmental concerns, thus I have chosen to cover these questions, as well as the evolution of the locale economy towards a more sustainable development. The outcome of the examined aspects shows that, in spite of an increase in eco-efficiency levels, energy and material consumption and emissions have increased. This raises the question if measuring economic and environmental efficiency by reporting to the GDP value is becoming obsolete and if there is a need to revaluate eco-efficiency indicators in order to measure the transition to a greener and more sustainable development from different points of view.

  16. Economic Growth and Development in the Undergraduate Curriculum

    Science.gov (United States)

    Acemoglu, Daron

    2013-01-01

    A central theme of this article is that economics instructors should spend more time teaching about economic growth and development at the undergraduate level because the topic is of interest to students, is less abstract than other macroeconomic topics, and is the focus of exciting research in economics. Facts and data can be presented to…

  17. An economic growth model based on financial credits distribution to the government economy priority sectors of each regency in Indonesia using hierarchical Bayesian method

    Science.gov (United States)

    Yasmirullah, Septia Devi Prihastuti; Iriawan, Nur; Sipayung, Feronika Rosalinda

    2017-11-01

    The success of regional economic establishment could be measured by economic growth. Since the Act No. 32 of 2004 has been implemented, unbalance economic among the regency in Indonesia is increasing. This condition is contrary different with the government goal to build society welfare through the economic activity development in each region. This research aims to examine economic growth through the distribution of bank credits to each Indonesia's regency. The data analyzed in this research is hierarchically structured data which follow normal distribution in first level. Two modeling approaches are employed in this research, a global-one level Bayesian approach and two-level hierarchical Bayesian approach. The result shows that hierarchical Bayesian has succeeded to demonstrate a better estimation than a global-one level Bayesian. It proves that the different economic growth in each province is significantly influenced by the variations of micro level characteristics in each province. These variations are significantly affected by cities and province characteristics in second level.

  18. Employment and Growth | Page 13 | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Employment and Growth. Language English. Read more about S'attaquer au chômage chez les jeunes en Éthiopie grâce au développement de la micro et de la petite entreprise. Language French. Read more about Sustainable Public Procurement: A Tool for Greening the Economy. Language English. Read more about ...

  19. Interaction between Financial Intermediation Efficiency and Economic Growth

    Directory of Open Access Journals (Sweden)

    Milka Grbic

    2016-12-01

    Full Text Available Financial intermediaries have the key role in making a connection between savings and investments. Given the fact that an efficient transfer of savings into investments is made more difficult by transaction and information costs, financial intermediaries are specialized in minimizing the said costs per unit of invested capital. They are also trained to identify productive and innovative investment endeavors which contribute to the growth of real output. Real output growth is the basis for increasing the financial potential, which creates the basis for the development of financial intermediaries. In connection with that, apart from the analysis of the relevant factors making the process of the mobilization and transfer of savings more difficult, the theoretical models that put an emphasis on the relationship between the efficiency of financial intermediation and economic growth are discussed in the paper. The research results are indicative of the fact that the improvement in financial intermediaries’ business doing enables faster economic growth. Simultaneously, the growth of the economic activity increases the scope of the business operations conducted by financial intermediaries. Thanks to the effects of the economies of scale that contribute to a reduction in transaction and information costs, the efficiency of financial intermediations grows.

  20. Renewable Resources, Capital Accumulation, and Economic Growth

    OpenAIRE

    Wei-Bin Zhang

    2011-01-01

    This paper proposes a dynamic economic model with physical capital and renewable resources. Different from most of the neoclassical growth models with renewable resources which are based on microeconomic foundation and neglect physical capital accumulation, this study proposes a growth model with dynamics of renewable resources and physical capital accumulation. The model is a synthesis of the neoclassical growth theory and the traditional dynamic models of renewable resources with an alterna...

  1. The Relationship between Youth Unemployment and Economic Growth in Central and Eastern European Countries: An Empirical Analysis

    Directory of Open Access Journals (Sweden)

    Leman ERDAL

    2015-06-01

    Full Text Available The study has analyzed the relationship between youth unemployment and economic growth, in the context of Okun law, by using new generation panel data analysis and cointegration tests. In this study, 18 Central and Eastern European country have been selected as subject matter whose youth unemployment rate is above the EU-28 average (25 % for the period 2006-2012. The results show that, if youth unemployment is quite severe; even an exclusive economic growth will not be enough to reduce the youth unemployment rate in the country. It is recommended that the global and country-specific policies which are effective, result-driven on youth (Un employment and labour market issues, should be developed. This study is expected to make a significant contribution to the literature on unemployment and social conflict.

  2. Stages of growth in economic development

    Czech Academy of Sciences Publication Activity Database

    Kejak, Michal

    2003-01-01

    Roč. 27, č. 5 (2003), s. 771-800 ISSN 0165-1889 Institutional research plan: CEZ:AV0Z7085904 Keywords : growth * human capital * development Subject RIV: AH - Economics Impact factor: 0.690, year: 2003

  3. Economic growth, biodiversity loss and conservation effort.

    Science.gov (United States)

    Dietz, Simon; Adger, W Neil

    2003-05-01

    This paper investigates the relationship between economic growth, biodiversity loss and efforts to conserve biodiversity using a combination of panel and cross section data. If economic growth is a cause of biodiversity loss through habitat transformation and other means, then we would expect an inverse relationship. But if higher levels of income are associated with increasing real demand for biodiversity conservation, then investment to protect remaining diversity should grow and the rate of biodiversity loss should slow with growth. Initially, economic growth and biodiversity loss are examined within the framework of the environmental Kuznets hypothesis. Biodiversity is represented by predicted species richness, generated for tropical terrestrial biodiversity using a species-area relationship. The environmental Kuznets hypothesis is investigated with reference to comparison of fixed and random effects models to allow the relationship to vary for each country. It is concluded that an environmental Kuznets curve between income and rates of loss of habitat and species does not exist in this case. The role of conservation effort in addressing environmental problems is examined through state protection of land and the regulation of trade in endangered species, two important means of biodiversity conservation. This analysis shows that the extent of government environmental policy increases with economic development. We argue that, although the data are problematic, the implications of these models is that conservation effort can only ever result in a partial deceleration of biodiversity decline partly because protected areas serve multiple functions and are not necessarily designated to protect biodiversity. Nevertheless institutional and policy response components of the income biodiversity relationship are important but are not well captured through cross-country regression analysis.

  4. Trade Openness and its Effects on Economic Growth in selected Asian Countries

    OpenAIRE

    Ganbold, Delgermaa

    2014-01-01

    This bachelor thesis examines the effect of international trade on economic growth in China, Kazakhstan and Mongolia. The determinants of international trade and their impact on economic development are reviewed in the Theoretical background. Subsequently, the countries' major trading factors and trade strategies which contribute to their economic growth are also analysed in this thesis. The main aim - the quantification of relationship between international trade and economic growth is appli...

  5. Contribution of services to economic growth: Kaldor’s fifth law?

    Directory of Open Access Journals (Sweden)

    Adilson Giovanini

    2017-08-01

    Full Text Available Purpose: This study questions whether there is a Kaldor’s fifth law and tests whether the size of the intermediate services sector contributes to the growth of the industrial sector. Originality/Value: The laws proposed by Kaldor consider that the industrial sector contributes to economic growth and affirm that the growth of this sector depends on the existing demand for industrial products. If this new law is corroborated we have the initial evidences that the growth of the service sector contributes to the growth of the industry. Design/methodological/approach: The existence of this new law is tested through the estimation of panel VAR models for eight developed countries in the period 1980-2009. Findings: The growth of the service sector causes Granger to increase industrial productivity, industrial density and economic complexity. The causality test shows that there is a bidirectional causal relationship between the growth of the service sector and the industrial density and between the growth of the service sector and the Economic Complexity Index.

  6. Political instability and economic growth: an empirical evidence from the Baltic states

    Directory of Open Access Journals (Sweden)

    Ladislava Grochová

    2011-01-01

    Full Text Available For more than last 20 decades, new political economics has been dealing with theories of economic growth (for example influential contributions by Mancur Olson, Dani Rodrik. However, less attention has been paid to their empirical verification. The new political economics growth theory defines some factors that are necessary for economic growth among which political stability. Our aim is to test the theory focused on political stability empirically in order to enrich the studies with recent European results. The paper uses a single-equation model to reject a hypothesis that political stability is a necessary condition for economic growth finding a relationship between economic growth and political instability. A demonstration that political stability is not a crucial factor for economic development in general then represents the main goal of the contribution. There are distinguished two types of political instability – elite and non-elite – in topical literature. While non-elite political instability concerns about violent coups, riots or civil wars, elite political instability is represented with “soft changes” such as government breakdowns, fragile majority or minority governments. A number of government changes is used as a proxy of elite political instability. The disproof of the hypothesis is demonstrated on data from the Baltic states where number of government changes takes place and still fast economic growth could be seen within last two decades. Since it is shown that political instability has almost no impact on economic growth, we consider the hypothesis regarding a necessity of political stability for economic development to be only a specific non-generalizable case.

  7. Relationship of Economic Growth with Tourism Sector

    Directory of Open Access Journals (Sweden)

    Abdul Holik

    2016-06-01

    Full Text Available This research aims to analyze the impact of  foreign tourists towards the economic growth. It was conducted from 1995 until 2012 on five ASEAN member countrie: Indonesia, Malaysia, Thailand, Philippines, and Singapore. It used the quantitative method; it is one-way random effect of panel regression. The data, which is functioned as dependent variables, were taken from WDI (World Development Indicator of the World Bank for the Gross Domestic Product (GDP. Meanwhile, the data of revenue from the foreign tourist visit (Rec, the number of foreign tourist arrival (Arr, and the exchange rate (Xrate are functioned as the independent variables. Based on the research result, there is evidence that international tourism can increase the economic growth in those countries. The three independent variables have a positive and  significant impact to the dependent variables. Based on the findings, the governments of five ASEAN member countries should be able to maintain the sustainability of tourism sector in order to be stronger and to have global market-orientation. In fact, tourism services can support the  economic growth because the potential of those ASEAN countries cannot be taken lightly.

  8. Relationship of Economic Growth with Tourism Sector

    Directory of Open Access Journals (Sweden)

    Abdul Holik

    2016-06-01

    Full Text Available This research aims to analyze the impact of foreign tourists towards the economic growth. It was conducted from 1995 until 2012 on five ASEAN member countrie: Indonesia, Malaysia, Thailand, Philippines, and Singapore. It used the quantitative method; it is one-way random effect of panel regression. The data, which is functioned as dependent variables, were taken from WDI (World Development Indicator of the World Bank for the Gross Domestic Product (GDP. Meanwhile, the data of revenue from the foreign tourist visit (Rec, the number of foreign tourist arrival (Arr, and the exchange rate (Xrate are functioned as the independent variables. Based on the research result, there is evidence that international tourism can increase the economic growth in those countries. The three independent variables have a positive and significant impact to the dependent variables. Based on the findings, the governments of five ASEAN member countries should be able to maintain the sustainability of tourism sector in order to be stronger and to have global market-orientation. In fact, tourism services can support the economic growth because the potential of those ASEAN countries cannot be taken lightly.

  9. Public Expenditures and Economic Growth: Was Wagner Right? Evidence from Turkey

    Directory of Open Access Journals (Sweden)

    Gizem Uzuner

    2017-06-01

    Full Text Available Going by Adolph Wagner’s theory, increased in public expenditure would have a significant influence growth. However, the endogenous growth theories posit that public sector either has direct or indirect impacts on economic growth. It is on this premise, we seek to examine and validate Wagner’s theory on the impact of current, investment and transfer expenditures on economic growth over the periods 1975-2014 for Turkey, using Johansen co-integration test and Granger causality test. Findings confirm Wagner’s law through the existence of a long term relationship between the variables, while public expenditures display a significant positive impact on economic growth.

  10. The Relationship Between Economic Growth and Stock Returns : Evidence From Turkey

    Directory of Open Access Journals (Sweden)

    Mehmet ŞENTÜRK

    2014-12-01

    Full Text Available Financial development is one of the most important determinants of the economic development. Financial developments in Turkey began in the early 1980s and still have continued. During this period, it has survived a severe interaction between financial development and economic growth. In this study, the causality relationship between stock returns and economic growth in Turkey it was analysed over the period 1998Q2-2014Q2. In this context; firstly, Bootstrapped Toda-Yamamoto and Frequency Domain causality tests were applied in order to understand the causality relationship between the two variables. As a result of the Bootstrapped Toda-Yamamoto causality test results, there is no relation of causality between the variables, but according to Frequency Domain causality test stock returns cause the economic growth in short term and economic growth cause stock returns in medium term.

  11. Military spending and economic growth in China: a regime-switching analysis

    OpenAIRE

    Menla Ali, F; Dimitraki, O

    2014-01-01

    This article has been made available through the Brunel Open Access Publishing Fund. This article investigates the impact of military spending changes on economic growth in China over the period 1953 to 2010. Using two-state Markov-switching specifications, the results suggest that the relationship between military spending changes and economic growth is state dependent. Specifically, the results show that military spending changes affect the economic growth negatively during a slower grow...

  12. The causal relationship between electricity consumption and economic growth in the ASEAN countries

    International Nuclear Information System (INIS)

    Yoo, S.-H.

    2006-01-01

    This paper investigates the causal relationship between electricity consumption and economic growth among the Association of South East Asian Nations (ASEAN) 4 members, namely Indonesia, Malaysia, Singapore, and Thailand, using modern time-series techniques for the period 1971-2002. The results indicate that there is a bi-directional causality between electricity consumption and economic growth in Malaysia and Singapore. This means that an increase in electricity consumption directly affects economic growth and that economic growth also stimulates further electricity consumption in the two countries. However, uni-directional causality runs from economic growth to electricity consumption in Indonesia and Thailand without any feedback effect. Thus, electricity conservation policies can be initiated without deteriorating economic side effects in the two countries

  13. Children′s growth pattern and mothers′ education and socio-economic status in Riyadh, Saudi Arabia

    Directory of Open Access Journals (Sweden)

    Suliman Ibrahim Alhaidari

    2016-01-01

    Full Text Available Background: An important indication of a child′s well-being is evidence of having a normal growth pattern. A child′s growth pattern is influenced by multiple factors, genetic and/or environmental. From an environmental point of view, the socio-economic status of the mother plays an important role in a child′s growth during the early stages of childhood. Aim: The aim of this study was to explore the association between mothers′ educational and socio-economic status on their children′s growth in Riyadh. Methods: A cross-sectional study was conducted in eight hospitals in Riyadh. The target population was children aged between 1 month and 7 years and their mothers visiting the vaccination clinics. The mother′s data were collected using a structured interview, and the child′s weight and height were measured and plotted on growth charts. Results: A total of 744 mothers and children were screened (392 males, 352 females. The proportion of children with weight and height under the 25 th percentile was 40% and 29%, respectively. In terms of education, the height of a higher proportion of children (33% was under the 25 th percentile if the mother had a high school education compared with 25% when the mother had a college education (P = 0.02. Private sector-employed mothers had a lower proportion of children (26% with weight below the 25 th percentile compared to mothers who were government-employed or unemployed (both 41%. Mothers living in an apartment had a significantly lower proportion of children (24% with height under the 25 th percentile compared to mothers living in a house (33% (P = 0.04. In addition, mothers living in a rented residence had a significantly lower proportion (40% of children with weight under the 25 th percentile than mothers living in owned ones (42% (P = 0.02. Conclusion: Underweight and short stature among children are associated with less educated and unemployed mothers and with mothers who live in a house. The

  14. RELATIONSHIP BETWEEN ECONOMIC GROWTH AND HUMAN CAPITAL

    Directory of Open Access Journals (Sweden)

    Mihaela Tania SANDU

    2010-02-01

    Full Text Available Recognizing the importance of infl uence exerted by human capital oneconomic growth of a country, to base decisions regarding the need to invest in such type of capital there are conducted studies and used different models for analysis related to a series of macroeconomic and demographic indicators.We present the main indicators and dynamics of human capital, placedin the economic context of Romania, with reference, in bringing out statistics data, to an average period of time (between 1994-2008 characterized at macroeconomic level, both by recession and economic growth periods. There were also highlighted indicators and dynamics, both at national and individual level.

  15. Evaluation of trade influence on economic growth rate by computational intelligence approach

    Science.gov (United States)

    Sokolov-Mladenović, Svetlana; Milovančević, Milos; Mladenović, Igor

    2017-01-01

    In this study was analyzed the influence of trade parameters on the economic growth forecasting accuracy. Computational intelligence method was used for the analyzing since the method can handle highly nonlinear data. It is known that the economic growth could be modeled based on the different trade parameters. In this study five input parameters were considered. These input parameters were: trade in services, exports of goods and services, imports of goods and services, trade and merchandise trade. All these parameters were calculated as added percentages in gross domestic product (GDP). The main goal was to select which parameters are the most impactful on the economic growth percentage. GDP was used as economic growth indicator. Results show that the imports of goods and services has the highest influence on the economic growth forecasting accuracy.

  16. Conflict Between Economic Growth and Environmental Protection

    Energy Technology Data Exchange (ETDEWEB)

    Czech, Bryan

    2012-01-09

    The conflict between economic growth and environmental protection may not be reconciled via technological progress. The fundamentality of the conflict ultimately boils down to laws of thermodynamics. Physicists and other scholars from the physical sciences are urgently needed for helping the public and policy makers grasp the conflict between growth and environmental protection.

  17. Energy consumption and economic growth for selected OECD countries: Further evidence from the Granger causality test in the frequency domain

    International Nuclear Information System (INIS)

    Bozoklu, Seref; Yilanci, Veli

    2013-01-01

    This paper aims to reexamine the causal relationship between energy consumption and economic growth for 20 OECD countries. To that end, we employ a Granger causality test in the frequency domain which allows us to distinguish short (temporary) and long-run (permanent) causality. The empirical results could be summarized as following. First, in terms of causality running from GDP to energy consumption, there is a temporary relationship for Australia, Austria, Canada, Italy, Japan, Mexico, the Netherlands, Portugal, the UK, the USA, and a permanent relationship for Austria, Belgium, Denmark, Germany, Italy, Japan, the Netherlands, Norway, and the USA. Second, in terms of causality running from energy consumption to GDP, there is a temporary relationship for Austria, Denmark, Italy, the Netherlands, Norway and Portugal, and a permanent relationship for Belgium, Finland, Greece, Italy, Japan, and Portugal. The main implication of our finding is that the energy policies should take into consideration not only the causality direction between economic growth and energy consumption but also whether it is temporal or permanent and furthermore authorities must design policy actions accordingly. - Highlights: • This study reexamines the causal relationship between energy consumption and economic growth. • We employ frequency causality analysis to determine temporary and permanent causality. • The results provide evidence of both temporary and permanent causality relationships for countries examined. • Energy policies should consider whether the causality is temporal or permanent

  18. Landscape urbanization and economic growth in China: positive feedbacks and sustainability dilemmas.

    Science.gov (United States)

    Bai, Xuemei; Chen, Jing; Shi, Peijun

    2012-01-03

    Accelerating urbanization has been viewed as an important instrument for economic development and reducing regional income disparity in some developing countries, including China. Recent studies (Bloom et al. 2008) indicate that demographic urbanization level has no causal effect on economic growth. However, due to the varying and changing definition of urban population, the use of demographic indicators as a sole representing indicator for urbanization might be misleading. Here, we re-examine the causal relationship between urbanization and economic growth in Chinese cities and provinces in recent decades, using built-up areas as a landscape urbanization indicator. Our analysis shows that (1) larger cities, both in terms of population size and built-up area, and richer cities tend to gain more income, have larger built-up area expansion, and attract more population, than poorer cities or smaller cities; and (2) that there is a long-term bidirectional causality between urban built-up area expansion and GDP per capita at both city and provincial level, and a short-term bidirectional causality at provincial level, revealing a positive feedback between landscape urbanization and urban and regional economic growth in China. Our results suggest that urbanization, if measured by a landscape indicator, does have causal effect on economic growth in China, both within the city and with spillover effect to the region, and that urban land expansion is not only the consequences of economic growth in cities, but also drivers of such growth. The results also suggest that under its current economic growth model, it might be difficult for China to control urban expansion without sacrificing economic growth, and China's policy to stop the loss of agricultural land, for food security, might be challenged by its policy to promote economic growth through urbanization.

  19. Off-Farm Employment and Economic Crisis: Evidence from Cyprus

    Directory of Open Access Journals (Sweden)

    Elias Giannakis

    2018-03-01

    Full Text Available Off-farm employment is an important strategy for complementing farm household income and maintaining rural livelihoods. A multilevel logistic regression model was applied to investigate the effect of farm-level and regional-level factors on off-farm employment in Cyprus during the recent economic crisis period. The performance of nonfarm sectors positively affects off-farm employment; a one-percent increase in the share of the secondary and tertiary sector employment increases the likelihood of off-farm work by 9.5 times. The importance of location was also identified. Farm households located in rural areas are 70% less likely to engage in off-farm work than households located in urban areas. The positive effect of educational attainment and the negative effect of farm training confirmed the importance of human capital characteristics on off-farm labour participation. Farm structural factors are also significant determinants of off-farm employment. A one-hectare increase in the farm size decreases the odds of off-farm labour participation by 50%. Operators of crop farming holdings are 4.2 times more likely to work off the farm than operators of livestock and mixed-farming holdings. The results reveal the importance of adopting a multilevel and integrated approach for the analysis of off-farm employment.

  20. Political instability and economic growth: an empirical evidence from the Baltic states

    OpenAIRE

    Ladislava Grochová; Luděk Kouba

    2011-01-01

    For more than last 20 decades, new political economics has been dealing with theories of economic growth (for example influential contributions by Mancur Olson, Dani Rodrik). However, less attention has been paid to their empirical verification. The new political economics growth theory defines some factors that are necessary for economic growth among which political stability. Our aim is to test the theory focused on political stability empirically in order to enrich the studies with recent ...

  1. Financial Sector Development, Economic Growth and Poverty Reduction: New Evidence from Nigeria

    Directory of Open Access Journals (Sweden)

    Muhammad Yusuf DANDUME

    2014-12-01

    Full Text Available There is a common view that a well developed financial system will usher economic growth and further reduce the level of poverty. In late years the automaticity of this relationship in poor states such as Nigeria has been an area of considerable argument. This study attempts to examine this presuppose causal relationship between financial sector development, economic growth and poverty reduction in Nigeria. The study uses Autoregressive Distributed Lag model (ARDL and Toda and Yamamoto No causality test, using a time series data covering the period of 1970-2011. The study includes poverty into the ongoing competing finance growth nexus hypothesis, in order to ascertain whether the poor segment of the Nigerian society have access to financial resources and also fully participate in the economic growth process in the country. Empirical results of the study reveal that financial sector development does not cause poverty reduction. This implies, increased in the supply of loan able funds due to financial sector development is not enough to ensure poverty reduction. Certain measures are important. Therefore, the results reveal, that economic growth causes financial sector growth. Implies that economic growth lead and financial sector follow. This implies that for financial sector development, economic growth is necessary, even though not sufficient for poverty reduction.

  2. Do Corruption and Social Trust affect Economic Growth? A Review

    DEFF Research Database (Denmark)

    Serritzlew, Søren; Sønderskov, Kim Mannemar; Svendsen, Gert Tinggaard

    2014-01-01

    Two separate literatures suggest that corruption and social trust, respectively, are related to economic growth, although the strengths of the relationships, and the direction of causality, are still debated. In this paper, we review these literatures and evaluate the evidence for causal effects...... of corruption and trust on economic growth, and discuss how corruption and trust are interrelated. The reviews show that absence of corruption and high levels of social trust foster economic growth. The literatures also indicate that corruption has a causal effect on social trust, while the opposite effect...... is more uncertain. In the conclusion, we offer the suggestion that fighting corruption may yield a “double dividend”, as reduced corruption is likely to have both direct and indirect effects on growth....

  3. Determinants of economic growth: will data tell?

    OpenAIRE

    Ciccone, Antonio; Jarociński, Marek

    2008-01-01

    Many factors inhibiting and facilitating economic growth have been suggested. Will international income data tell which matter when all are treated symmetrically a priori? We find that growth determinants emerging from agnostic Bayesian model averaging and classical model selection procedures are sensitive to income differences across datasets. For example, many of the 1975-1996 growth determinants according to World Bank income data turn out to be irrelevant when using Penn World Table data ...

  4. Three essays on energy and economic growth

    Science.gov (United States)

    Peach, Nathanael David

    2011-12-01

    This dissertation explores the relationship between energy and economic growth. Chapter Two, Three, and Four examine the interaction of energy-related measures and economic outcomes by applying different methodologies across various spatial dimensions. Chapter Two shows that increases in energy consumption are necessary for increases in state level economic growth to occur. Chapter Three estimates a simultaneous supply and demand energy market at the state level. This system allows for estimates of structural elasticities to be obtained. Findings indicate that energy supply is considerably more elastic than energy demand. Energy demand is found to be determined by responses to short run shocks rather than long run processes. Chapter Four estimates the impact of changes in various elements of governance and institutional quality impact genuine investment within an economy. Increases in democracy are predicted to decrease genuine investment in energy-rich nations. The dissertation concludes with Chapter Five.

  5. Energy consumption and economic growth: Evidence from Cameroon

    International Nuclear Information System (INIS)

    Fondja Wandji, Yris D.

    2013-01-01

    The aim of this paper is to study the nature of the relationship between energy consumption and economic growth in Cameroon through a three-step approach: (i) Study the stationarity of the chronic, (ii) test of causality between variables and (iii) estimate the appropriate model. The study concludes in a non-stationarity of the series. Using the data in first difference, the Granger causality test yields a strong evidence for unidirectional causality running from OIL to GDP. Cointegration tests also show that these two series are co-integrated and the Error Correction Model (ECM) reveals that every percentage increase in Oil products consumption increases economic growth by around 1.1%. This result confirms the intuition that an economic policy aimed at improving energy supply will necessarily have a positive impact on economic growth. On the other side, a lack of energy is a major bottleneck for further economic development in Cameroon. - Highlights: • The series of GDP, ELECTRICITY, OIL and BIOFUELS are integrated of order 1. • The Granger causality test yields a unidirectional causality running from OIL to GDP. • No causal link between GDP and ELECTRICITY, and no more between GDP and BIOFUELS. • Cointegration tests also show that only OIL and GDP are co-integrated. • Every percentage increase in OIL increases GDP by around 1.1%

  6. The physical limits to economic growth by R&D funded innovation

    International Nuclear Information System (INIS)

    Beaudreau, Bernard C.; Lightfoot, H. Douglas

    2015-01-01

    For over three decades, worldwide R&D expenditure has risen steadily, reaching $1.3 trillion in 2011. Underlying this unprecedented growth is a deeply-held belief that R&D is a prime mover of economic growth. Ironically, despite three decades of massive R&D expenditure, growth levels have remained substantially lower than that of the immediate post World War II period. This raises important theoretical questions regarding R&D and its impact on growth per se. For example, R&D-growth has been modeled and continues to be modeled as an unbounded set. This has not been inconsequential because it has introduced an upward bias in growth projections as evidenced in the literature. More importantly, are there physically-determined upper limits to R&D-based growth and, if so, what are they? This paper uses the physical sciences to map the physical limits to R&D-based innovation. A consilient model of economic growth is presented and upper bounds for energy efficiency-based growth rates are provided, both for individual energy sectors and globally. We find that with economic growth by innovation limited by physical conditions, increasing the rate of economic growth can only come through increasing the rate of energy consumption. - Highlights: • Worldwide, R&D expenditures have grown steadily yet economic growth remains anemic. • This paper examines the physics of process-based R&D using a consilient model of wealth creation. • Growth is formalized in terms of (i) energy consumption growth and (ii) changes in energy efficiency. • Detailed estimates of changes in energy efficiency are provided for the period 1990–2100. • The results of the paper establish the upper bound of changes in energy efficiency at 0.68 percent per year

  7. Will Carbon Tax Yield Employment Double Dividend for China?

    Directory of Open Access Journals (Sweden)

    Jinghua Zhang

    2013-07-01

    Full Text Available Carbon tax is an important economic means to reduce carbon emission. This paper establishes a Computable General Equilibrium (CGE model to reflect China’s resource environment where economic growth and employment play a role by analyzing impacts of carbon tax on employment. The CGE model measures short and long-term impacts of carbon tax on employment, and examines whether the employment “double dividend” would be possible. The analysis shows that the demand for employment tends to decrease as a whole, but different groups of employees would be affected in various ways. “Double dividend” will be possible if appropriate carbon tax cycle is in place.

  8. Carbon emissions, energy consumption and economic growth: An aggregate and disaggregate analysis of the Indian economy

    International Nuclear Information System (INIS)

    Ahmad, Ashfaq; Zhao, Yuhuan; Shahbaz, Muhammad; Bano, Sadia; Zhang, Zhonghua; Wang, Song; Liu, Ya

    2016-01-01

    This study investigates the long and short run relationships among carbon emissions, energy consumption and economic growth in India at the aggregated and disaggregated levels during 1971–2014. The autoregressive distributed lag model is employed for the cointegration analyses and the vector error correction model is applied to determine the direction of causality between variables. Results show that a long run cointegration relationship exists and that the environmental Kuznets curve is validated at the aggregated and disaggregated levels. Furthermore, energy (total energy, gas, oil, electricity and coal) consumption has a positive relationship with carbon emissions and a feedback effect exists between economic growth and carbon emissions. Thus, energy-efficient technologies should be used in domestic production to mitigate carbon emissions at the aggregated and disaggregated levels. The present study provides policy makers with new directions in drafting comprehensive policies with lasting impacts on the economy, energy consumption and environment towards sustainable development. - Highlights: •Relationships among carbon emissions, energy consumption and economic growth are investigated. •The EKC exists at aggregated and disaggregated levels for India. •All energy resources have positive effects on carbon emissions. •Gas energy consumption is less polluting than other energy sources in India.

  9. Institution, Financial Sector, and Economic Growth: Use The Institutions As An Instrument Variable

    Directory of Open Access Journals (Sweden)

    Albertus Girik Allo

    2016-06-01

    Full Text Available Institution has been investigated having indirect role on economic growth. This paper aims to evaluate whether the quality of institution matters for economic growth. By applying institution as instrumental variable at Foreign Direct Investment (FDI, quality of institution significantly influence economic growth. This study applies two set of data period, namely 1985-2013 and 2000-2013, available online in the World Bank (WB. The first data set, 1985-2013 is used to estimate the role of financial sector on economic growth, focuses on 67 countries. The second data set, 2000-2013 determine the role of institution on financial sector and economic growth by applying 2SLS estimation method. We define institutional variables as set of indicators: Control of Corruption, Political Stability and Absence of Violence, and Voice and Accountability provide declining impact of FDI to economic growth.

  10. Cancer and its impact on work among the self-employed: A need to bridge the knowledge gap.

    Science.gov (United States)

    Sharp, L; Torp, S; Van Hoof, E; de Boer, A G E M

    2017-09-01

    Self-employment-the so-called flexible layer of the economy-has gained importance following the 2007-2008 global economic and financial crisis. In Europe, the self-employed now comprise on average 15% of workers [Eurostat, Labour market and Labour force survey (LFS) statistics, 2016]. Around one-third of self-employed people also provide jobs for others [European Commission, Fact Sheet. 2015 Employment and Social Developments in Europe Review: frequently asked questions, 2016]. Moreover, this group of workers adapts quickly to changing circumstances. In the UK, for instance, recent growth in self-employment is considered to have made an important contribution to labour market recovery [Hatfield, Self-employment in Europe. London, Institute of Public Policy Research, 2015]. Across the European Union self-employment is viewed as a key enabler of sustainable economic growth and, reflecting this, the Europe 2020 strategy encourages member states both to promote self-employment and to remove measures that discourage it [Library of the European Parliament, Self-employment and social security. Effects on innovation and economic growth, 2013]. © 2017 John Wiley & Sons Ltd.

  11. Effects of South Africa’s Economic Growth on Sub-Saharan Africa

    Directory of Open Access Journals (Sweden)

    Kwon Sik Kim

    2007-06-01

    Full Text Available Major countries, such as the United States, Japan, and China have already recognized the potential of Africa’s markets. Korea has also taken notice of Africa's diverse export markets recently. However, Africa is comprised of 53 different countries and, as a result, entry into the region poses a formidable strategic challenge. Korean authorities and export groups have suggested a "3 plus 2 Country Strategy" in order to make inroads into the African region. This paper contributes to discussions of this strategy by comparing the effects of economic growth in South Africa and Nigeria on Sub-Saharan Africa. In addition, because economic power in Africa is concentrated in a small number of countries, whose market characteristics are different from those of integrated unions, the determinants of economic growth in Africa as a whole and unions may be different. This paper investigates whether or not this is, in fact, the case. The empirical results can be summarized as follows: First, the effects of South Africa's economic growth on Sub-Saharan Africa and the SADC (a representative union of South Africa are much larger than the effects of Nigeria's growth on Sub-Saharan Africa and the ECOWAS (a representative union of Nigeria. These empirical results imply that the preferred country to pursue economic cooperation with is South Africa. Second, we confirm that determinants of economic growth are different for Africa and the unions. The main determinant of growth in African countries may be the population ratio, but in the SADC, growth appears to be determined by ratio trade volumes of GDP. Finally, we also find that the ratio investments of GDP have a positive influence on the economic growth of both Africa and SADC.

  12. View Point: Economic growth and child health in Sub Saharan Africa ...

    African Journals Online (AJOL)

    View Point: Economic growth and child health in Sub Saharan Africa. BA O'Hare, N Bar-Zeev, L Chiwaula. Abstract. After independence most African countries witnessed growth in their economies and decreases in child mortality. However both economic growth and the gains in under 5 mortality slowed dramatically in the ...

  13. International Financial Integration and Economic Growth in India: An Empirical Investigation

    Directory of Open Access Journals (Sweden)

    Nayia MAHAJAN

    2015-11-01

    Full Text Available This study endeavors to estimate relationship between international financial integration and economic growth in India during 1981-2011. Apart from direct impact of international financial integration on growth, indirect impact (via financial development has also been studied empirically. Models of co-integration and Vector Error Correction Model (VECM have been applied to examine the relationships. The study observes that international financial integration affects the growth of the economy positively; and change in economic growth due to it through financial development is approximately 8.63 percent. The study also suggests that the structural reforms that took place in India in early nineties did not affect the existing relationship of global financial integration and economic growth significantly.

  14. Youth employment in sub-Saharan Africa: Taking stock of the ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    2016-01-13

    Jan 13, 2016 ... It gives context on the overall economic and employment climate in the region, ... The impact of demographic change on economic growth in Kenya and South ... Familiar faces from abroad: Diaspora tourism in the Caribbean.

  15. An analysis of employment intensity of sectoral output growth in ...

    African Journals Online (AJOL)

    The study explores the employment intensity of sectoral output growth in Botswana with a view to identifying key sectors of the Botswana economy that are employment intensive. To achieve this objective, the study used both simple elasticities and econometric procedures to provide empirical evidence concerning the extent ...

  16. The sustainability and transition of economic growth in China: from a perspective of factor structure

    Institute of Scientific and Technical Information of China (English)

    Wang Yafei; Wu Xiaohang

    2008-01-01

    After more than 20 years' high speed growth, the sustainable growth of Chinese economy faces serious lim-itation of resources and factors now and in the future. In order to maintain the economic growth, China has to trans, form the way of economic growth. Based on the analysis on the related theories of economic growth and the structur-al transformation in factors of production, this paper proposes that the transformation of the economic growth way has to impel the optimization and the promotion of the utilization structure of factors of production. Finally, based on the analysis of the necessity to change the pattern of economic growth, this paper proposes the strategic measures to promote the continuous economic growth and the transformation of patterns of economic growth.

  17. The causal relationship between energy resources and economic growth in Brazil

    International Nuclear Information System (INIS)

    Pao, Hsiao-Tien; Fu, Hsin-Chia

    2013-01-01

    This study investigates the causal relationship between clean and non-clean energy consumption and economic growth in Brazil over the period of 1980–2009. Clean energy consumption at aggregated level of total renewable energy consumption and disaggregated levels of hydroelectric, new renewables, and nuclear energy consumption are tested within a production function framework. A cointegration test reveals a long-term equilibrium relationship between real output, capital, labor, and renewable and non-renewable energy consumption at aggregated level, and a long-term equilibrium relationship between real output, capital, labor, and hydroelectric/new renewables/nuclear and fossil fuel energy consumption at disaggregated level. The capital, labor, and new renewables elasticities of real output are positive and statistically significant, other energy consumption item's elasticities are insignificant. The results from error correction model reveal the interdependencies between new renewables, nuclear, fossil fuel, and total non-renewable energy consumption and economic growth, the unidirectional causality from hydroelectric/total renewable consumption to economic growth, the substitutability between new renewables and fossil fuel consumption, and the substitutability between new renewables and nuclear energy consumption. Additionally, nuclear and new renewables energy consumption responds to bring the system back to equilibrium. Overall, aggregated analysis may obscure the relationship between different types of clean energy consumption and economic growth. - Highlights: • We model three kinds of clean energy and non-clean energy consumption and real GDP. • There is fossil fuel consumption–economic growth bidirectional causality. • There is new renewables consumption–economic growth bidirectional causality. • There is nuclear energy consumption–economic growth bidirectional causality. • Substitutability exists for new renewables–fossil fuel or new

  18. Remittances, financial development and economic growth: Empirical evidence from Lesotho

    Directory of Open Access Journals (Sweden)

    Athenia Bongani Sibindi

    2014-11-01

    Full Text Available Increasingly remittances now constitute a great source of foreign currency inflows for many developing countries. In some instances remittances have outpaced the growth of foreign direct investment (FDI. Amongst others, remittances can be used as a vehicle of savings mobilisation as well as fostering the supply of credit by providing liquidity to the market. In this article we investigate the causal relationship between the remittances, financial development and economic growth in Lesotho for the period 1975 to 2010. We make use of per capita remittances, real per capita broad money supply and real per capita growth domestic product as the proxies for remittances, financial development and economic growth respectively. We then test for cointegration amongst the variables by applying the Johansen procedure and then test for Granger causality based on the vector error correction model (VECM. Our results confirm the existence of at least one cointegrating relationship and also indicate that the direction of causality runs from remittances to the economy without feedback. The results also suggest that financial development Granger causes economic growth without feedback which is consistent with ‘supply-leading’ growth hypothesis. The results also confirm a causal relationship running from financial development to remittances without feedback. The results also lend credence to the “complementarity’ hypothesis in that, remittances complement rather than substitute financial development in bringing about economic growth.

  19. Exhaustible resources and economic growth

    International Nuclear Information System (INIS)

    Campbell, H.F.

    1984-09-01

    This study examines the effect of a booming natural resource sector on regional economic growth, with particular attention to the impact of regional government policy on mineral rent taxation and the allocation of resource revenues. The author's approach is first to document the relevant theory and then apply it to the case of the uranium industry in Saskatchewan

  20. ECONOMIC CRISIS AND ECONOMIC DISPARITIES IN EUROPEAN UNION

    Directory of Open Access Journals (Sweden)

    Rodica CRUDU

    2015-09-01

    Full Text Available The impact of the economic and financial crisis is still being felt. It started as an acute crisis of the banking system, but then quickly affected the real economy, causing a substantial slump in business investment, household demand and output. The current economic crisis has affected almost all European countries but the countries of the European south and the former eastern socialist republics have suffered the most. The objective in this paper is to quantify economic disparities as expressed by several growth indicators, such as GDP per capita, employment/unemployment rates, labour productivity rates and use them to compare the economic performances before and after the crisis. EU took several measures to recover from the economic crisis. Nevertheless, its ability to adjust to widely diverse national and local contexts that have been impacted differently by the effects of the crisis, and to support the different patterns of economic growth that will result from it, is yet to be seen.