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

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.

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 ...

Social Capital, Corruption and Economic Growth:Eastern and Western Europe

OpenAIRE

Svendsen, Gert Tinggaard

2003-01-01

We hypothesize, that power centralisation in a political system leads to more corruption due to the monopoly power status of bureaucrats. Corruption again would then lead to a lower level of social capital, here measured as trust, and slow down economic growth even further. Indeed, when comparing the tables and weighted averages for corruption and trust, highly corrupt countries such as those in Eastern Europe, also tend have the lowest level of trust. In general, low levels of trust (measure...

The impact of population ageing on the social security expenditure and economic growth in Japan.

Science.gov (United States)

Maruo, N

1987-05-01

The author considers the impact of demographic aging in Japan on the social security system and on economic growth. It is argued that "First of all, as the cost of social security (including social services) increases remarkably at the earlier stage of ageing, the disposable (after tax) income and private consumption of the present labour force generation tend to increase at a lower growth rate than that of the GNP....Secondly if pension systems are based on terminal funding schemes, the ageing of the population increases savings (net increase of the amount of the pension funds) at the earlier stage of the ageing of the population. Thirdly, there is a time lag between the increase of social security benefits and the decrease in the personal savings ratio. The high ratio of savings and the shortage of aggregate demand as well as the high pressure for export in...recent Japan can partly be attributed to the above factors." Possible future economic scenarios as demographic ageing in Japan proceeds are described, and policies to avert anticipated problems are outlined. (SUMMARY IN JPN) excerpt

Social and Economic Determinants of the Level of Support for Environmental Protection and Economic Growth in a Rural Population.

Science.gov (United States)

Murdock, Steve H.; Schriner, Eldon C.

Based on a secondary analysis of data from a statewide survey of North Dakota residents conducted during the spring of 1976, this study examined the differences in levels of support for environmental protection and economic growth via respondent characteristics, respondent characteristics within residence types, and occupational and social class…

Economic growth and marine biodiversity: influence of human social structure on decline of marine trophic levels.

Science.gov (United States)

Clausen, Rebecca; York, Richard

2008-04-01

We assessed the effects of economic growth, urbanization, and human population size on marine biodiversity. We used the mean trophic level (MTL) of marine catch as an indicator of marine biodiversity and conducted cross-national time-series analyses (1960-2003) of 102 nations to investigate human social influences on fish catch and trends in MTL. We constructed path models to examine direct and indirect effects relating to marine catch and MTL. Nations' MTLs declined with increased economic growth, increased urbanization, and increased population size, in part because of associated increased catch. These findings contradict the environmental Kuznets curve hypothesis, which claims that economic modernization will reduce human impact on the environment. To make informed decisions on issues of marine resource management, policy makers, nonprofit entities, and professional societies must recognize the need to include social analyses in overall conservation-research strategies. The challenge is to utilize the socioeconomic and ecological research in the service of a comprehensive marine-conservation movement.

Social and economic factors of the natural risk growth: estimation of the Russian regions

Science.gov (United States)

Petrova, E.

2003-04-01

Òhe vulnerability of the population and economy territorial complexes (PETC) to the influence of unfavorable and dangerous natural processes and events is determined not only by the physical parameters of natural hazards in the given region, but also by economic and social peculiarities of the PETC by itself. It depends on economy type, on PETC’s age, structure and dimensions as well as on degree of its participation in the territorial division of labor. PETC would be more vulnerable to the natural hazards impact if its population density, concentration of the industrial capacities (especially of the objects that additionally create the potential danger of the man-caused catastrophes such as nuclear-power stations, chemical enterprises, oil refineries and so on), concentration of transport and other means of communication, the technological complexity, the originality of the objects included in it as well as the originality of PETC by itself would be higher. The PETC with the unfavorable socio-political and ecological situation and underdeveloped management structures are more vulnerable. The estimation of regions by PETC vulnerability degree to the natural hazards were marked out on a base of data about the actual distribution of the natural hazards in Russia and analysis of the economic indices of the Russian Federation subjects. Among the economic indexes the per capita production of Gross Regional Product (GRP), population density, road density, the degree of appraisal depreciation of the fixed assets, the land cultivation degree of the territory, forest share and so on were taken into account. As the analysis showed, the economic and social factors of the natural risk growth are active in the majority of the regions of the Russian Federation. Such a situation demands the increased attention of state and local authorities to this problem for lowering the economic and social constituents of the growth of natural hazards.

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...

Online social activity reflects economic status

Science.gov (United States)

Liu, Jin-Hu; Wang, Jun; Shao, Junming; Zhou, Tao

2016-09-01

To characterize economic development and diagnose the economic health condition, several popular indices such as gross domestic product (GDP), industrial structure and income growth are widely applied. However, computing these indices based on traditional economic census is usually costly and resources consuming, and more importantly, following a long time delay. In this paper, we analyzed nearly 200 million users' activities for four consecutive years in the largest social network (Sina Microblog) in China, aiming at exploring latent relationships between the online social activities and local economic status. Results indicate that online social activity has a strong correlation with local economic development and industrial structure, and more interestingly, allows revealing the macro-economic structure instantaneously with nearly no cost. Beyond, this work also provides a new venue to identify risky signal in local economic structure.

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.

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

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

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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

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...

Towards a solidarity economy zakat Decrease poverty vs economic growth

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Mébarek BOUBLAL

2015-02-01

Full Text Available Historically, inequalities in the distribution of goods between men existed. Different economic policies have been developed in order to solve not only the problem of inequality, but also that of unemployment. The statistics speak for themselves; despite efforts provided, no solution has been able to solve this twofold problem. Indeed, we must understand that today's economy is primarily responsible for capital growth; support social policy is the responsibility of the welfare state. Policies such as the single tax , or flat tax and the social economy, or non profit sector, have emerged but not able to reconcile the dilemma posed by the management of the social side with economic growth and to help grow the capital. Consideration of zakat as a social economic system, or zakat solidarity economy, provides an opening to a third way. This pathway is ale to support the reduction of inequalities in redistribution and unemployment, without jeopardizing economic growth.

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.

ECONOMIC GROWTH - AN ILLUSION? STUDY CASE:ROMANIA

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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.

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 ...

Vocational Education and Training--An Engine for Economic Growth and a Vehicle for Social Inclusion?

Science.gov (United States)

Nilsson, Anders

2010-01-01

Vocational education and training (VET) has in recent years enjoyed a revival for two major reasons. Firstly, it is regarded as a suitable means of promoting economic growth. Secondly, it is seen as a potentially powerful tool for fostering social inclusion. In this review, these assumed effects are critically examined on the basis of the vastly…

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

Effects of Credit on Economic Growth, Unemployment and Poverty

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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

The Economic Causes and Consequences of Social Instability in China

OpenAIRE

John Knight

2012-01-01

Social instability is a concept that economists rarely analyse, and yet it can lurk behind much economic policy-making. China’s leadership has often publicly expressed its concerns to avoid ‘social instability’. It is viewed as a threat both to the political order and to the continued rapid growth of the economy. This threat to growth in turn endangers the maintenance of social stability. This paper examines the likely economic determinants of social instability, using both surveys and ...

SOCIALISM FROM THE VIEWPOINT OF ECONOMICS

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Klistorin V. I.

2015-09-01

Full Text Available The purpose of the present article is to discuss the role the socialist ideas played in the development of economic thoughts. The paper considers a brief history of socialist thought, fundamental ideas of the scientists and publicists who made the greatest contribution to development of socialist concepts; common principles at a huge variety of such concepts; and criticism of socialist ideas made by representatives of alternative schools. A special focus of the paper is the discussion held in the period between the world wars on whether socialism could take place. In the critics’ opinion, socialization of the economy resulted in corrupted economic information which made economic calculations impossible in socialism and abolition of private ownership - in both eliminated freedom of choice and lower economic growth. In response, economists-socialists insisted on positive impacts through lower transactional costs and they proposed different types of market socialism. The author also makes an attempt to formulate what the socialist theories contributed to modern economics from the viewpoint of its research subject and definitions.

THE WELFARE AND THE ECONOMIC GROWTH: TWO FACES OF THE SAME COIN

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ALINA LIGIA DUMITRESCU

2015-12-01

Full Text Available The research starts with review of the evolution of the concept of welfare. The model of economic growth and social welfare of the European Union continuously adapts to social and economic changes of contemporary European society. As a result of the financial and economic crisis and its impact on the EU’s economy, including economic contraction and rising unemployment, European Commission has launched the Strategy “Europe 2020”. The study will focus on the analysis of the strategy “Europe 2020” as a tool for economic growth and welfare.

THE IMPACT OF FISCAL POLICY ON ECONOMIC GROWTH IN THE COUNTRIES OF EASTERN EUROPE

OpenAIRE

BOLDEANU Florin Teodor; TACHE Ileana; ION Mădălin-Sebastian

2015-01-01

This paper deals with the effects of fiscal policy on economic growth in 10 countries of Eastern Europe. For this analysis we to use two regression models. The results of the first model provide information on the factors that influence economic growth. Thus, direct taxes, indirect taxes, total income taxes, social contributions and the economic crisis had an effect on economic growth. Of these variables, total taxable income had a positive effect and indirect taxes and social contributions h...

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.

Competitiveness and Economic Growth in Romanian Regions

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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.

ESTIMATING FINANCIAL SUPPORT OF REGIONAL PROGRAMS OF SOCIAL ECONOMIC DEVELOPMENT

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Iryna Kokhan

2016-03-01

Full Text Available The given article presents the analysis of the experience of the financial support of the regional programs of social economic development and the areas of usage of internal and external resources of the area. Dynamic and balanced development of regions is one of the most important issues for further establishment of marketing relations and social transformations in Ukraine. The Aim lies in the evaluation of financial support of the approved regional programs and launching the amount of their financing. The assessment of social economic situation in Ivano-Frankivsk region in terms of nationwide tendencies allows asserting that economic growth depends on the amounts and sources provided by the state. To determine close connection between  the amount of financing  for the programs  and  gross domestic product, the coefficient of correlation was calculated according to Pierson. It was proved that the amount of financing regional programs of social economic development influences the growth rate of gross domestic product. During research period the activation of regional authority institutions is being surveyed regarding the adoption and financing target regional programs. It was determined that the dynamic activity of the regional community and its territorial units on realization in terms of defined strategic priorities for programs of social economic development will facilitate disproportion reduction and differences in the development of territory units in the region, as well as positively influences the growth of gross domestic product providing steady increase of social welfare. Keywords: social economic regional development, ecology programs, social programs, gross regional domestic product, Pierson’s correlation coefficient. JEL: R 58

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...

How Does Social Trust Affect Economic Growth?

DEFF Research Database (Denmark)

Bjørnskov, Christian

This paper connects two strands of the literature on social trust by estimating the effects of trust on growth through a set of potential transmission mechanisms directly. It does so by modelling the process using a three-stage least squares estimator on a sample of countries for which a full data...... set is available. The results indicate that trust affects schooling and the rule of law directly. These variables in turn affect the investment rate (schooling) and provide a direct effect (rule of law) on the growth rate. The paper closes with a short discussion of the relevance of the findings....

Social and environmental determinants of child health in Mongolia across years of rapid economic growth: 2000-2010.

Science.gov (United States)

Joshi, Nehal; Bolorhon, Bolormaa; Narula, Indermohan; Zhu, Shihua; Manaseki-Hollan, Semira

2017-10-30

To understand the effect of economic growth on health, we investigated the trend in socio-economic and regional determinants of child health in Mongolia. This Central Asian country had the fastest economic growth amongst low and middle-income countries (LMICs) from 2000 to 2010 and a healthcare system in transition. Data was from Mongolian multiple indicator cluster surveys (MICS) in 2000, 2005 and 2010. Child nutrition/growth was measured by height-for-age z-score (HAZ), weight-for-age z-score (WAZ), prevalence of stunted (HAZ economic and environmental health determinants on each outcome in each year; 2000, 2005 and 2010. T-tests were used to measure significant change in HAZ and WAZ over the decade. Overall, from 2000 to 2010, there was a significant improvement (p economic factors increased on both stunting and weight. In 2000, region was a significant determinant: children living in three provinces were significantly more likely to be stunted and less likely to be immunised than Ulaanbaatar, but this was not significant by 2010. By 2010, none of the factors were significant determinants of immunisation in children. In 2000, economic status had no effect on stunting (OR = 0.91; 95%CI:0.49,1.66), however by 2010, children in the poorest economic quintile were 4 times more likely to be stunted than the richest (OR = 0.24; 95% CI:0.13,0.45; p Economic growth in Mongolia from 2000 to 2010 resulted in an increase in the effect of social determinants of child health; whilst focused policy improved access to immunisation. Children with less educated mothers and lower household incomes should be targeted in interventions to reduce health inequity.

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...

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)

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.

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.

The "local economy" effect of social transfers : an empirical assessment of the impactof th Bolsa Familia program on local productive structure and economic growth

OpenAIRE

Rougier, E.; Combarnous, F.; Fauré, Yves-André

2018-01-01

Social transfers impact local economic growth through local demand multiplier and local productive structures. Using original data on productive structures, growth determinants and Bolsa Familia conditional transfers (BFP) for the 184 municipalities of the Brazilian state of Ceará during 2003–10, we show that the positive impact of the transfers on local growth is in fact conditional on the direction of local economic structure transformation. Indeed, transfers did spur light manufactur...

Big Social Network Data and Sustainable Economic Development

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Umit Can

2017-11-01

Full Text Available New information technologies have led to the rapid and effective growth of social networks. The amount of data produced by social networks has increased the value of the big data concept, which is one of the popular current phenomena. The immediate or unpredictable effects of a wide array of economic activities on large masses and the reactions to them can be measured by using social media platforms and big data methods. Thus, it would be extremely beneficial to analyze the harmful environmental and social impacts that are caused by unsustainable business applications. As social networks and big data are popular realms currently, their efficient use would be an important factor in sustainable economic development. Accurate analysis of people’s consumption habits and economic tendencies would provide significant advantages to companies. Moreover, unknown consumption factors that affect the economic preferences of individuals can be discovered and economic efficiency can be increased. This study shows that the numerous solution opportunities that are provided by social networks and big data have become significant tools in dynamic policy creation by companies and states, in solving problems related to women’s rights, the environment, and health.

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...

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,...

Explaining slow economic growth and poor social development indicators: The case of Morocco

NARCIS (Netherlands)

S.I. Bergh (Sylvia)

2005-01-01

textabstractDrawing on elements of a political economy framework, this paper addresses two inter-related questions with regard to economic growth and public expenditure patterns in Morocco. The main factors that help explain Morocco’s relatively slow economic growth for the last few decades have to

Does social diversity impede sound economic management? An empirical analysis, 1980-2012.

Science.gov (United States)

de Soysa, Indra; Vadlamannati, Krishna Chaitanya

2017-02-01

Several celebrated scholars argue that diverse preferences and coordination failure due to ethnic and cultural diversity hamper the social cohesion necessary for good economic management, leading to development failure. Using several measures of diversity, we find that higher levels of ethno-linguistic and cultural fractionalization are conditioned positively on higher economic growth by an index of economic freedom, which is often heralded as a good measure of sound economic management. High diversity in turn is associated with higher levels of economic freedom. We do not find any evidence to suggest that high diversity hampers change towards greater economic freedom and institutions supporting liberal policies. The effect of diversity, moreover, is conditioned positively by higher democracy. Our results raise serious doubt about the centrality of social diversity for explaining economic failure, nor is there evidence to suggest that autocratic measures are required under conditions of social diversity to implement growth-promoting policies. This is good news because history and culture seem to matter less than rational agency for ensuring sound economic management. Copyright © 2016 Elsevier Inc. All rights reserved.

THE ROLE OF MORTGAGE CREDIT IN ENSURING ECONOMIC GROWTH

Directory of Open Access Journals (Sweden)

Z. L. Garipova

2014-04-01

Full Text Available The decision of the important social task - ensuring the availability of housing for the mass of the population of the country, on the one hand, allowed to launch investment, savings, financial and credit mechanisms for ensuring economic growth of the Russian economy on the other. Despite the high degree of sophistication in the scientific literature of the organization of mortgage lending system, a study of its impact on economic growth factors in the scientific literature clearly insufficient. The original article was the theory of economic growth, which allowed on the basis of research of interaction of demand for residential property, it deals with the housing mortgage credit to justify a conclusion about its importance not only for solution of social tasks, availability of housing, but also a significant impact on the demand and supply on the residential property market. Based on the analysis of statistical data for the period from 2006 to 2012, and their correlation analysis carried out research of factors of development of housing markets and mortgage lending, namely incomes, housing prices, interest rates on loans, «channel lending conditions, the terms of banking mortgage.Purchase on Elibrary.ru > Buy now

The Social Effects of the Economic Transformation in India (An Attempt at Measurement and Evaluation

Directory of Open Access Journals (Sweden)

Bywalec Grzegorz

2017-03-01

Full Text Available One of significant and, at the same time, challenging research problems in Economics is measuring the social effect of economic growth (development. Economic growth should never be treated a goal per se. It is rational provided that it brings effects such as, generally speaking, an improvement in the standard of living. However, this is not always the case. Social sciences, including Economics, have not developed any uniform methods of measuring and evaluating such effects yet.

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...

The “Dynamic South,” Economic Development and Inclusive Growth ...

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

25 sept. 2013 ... The impact of the 2008 economic crisis on labour markets and the role of social protection in these four emerging economies are among the subjects tackled in The "Dynamic South," Economic Development and Inclusive Growth: The Challenges Ahead. Edited by Alexandre de Freitas Barbosa and Maria ...

Solar energy's economic and social benefits

International Nuclear Information System (INIS)

Scheer, H.

1995-01-01

There are numerous indications that solar energy is far more than a mere stopgap measure to escape from the present environmental crisis. These include the natural as well as the developed, and still developing, technological potential of solar energy; the vast opportunities offered by abandoning destructive energy sources; and, not least, the new industrial perspectives arising from the conversion of our energy system. In addition to the environmental benefits, solar energy will bring about major economic and social gains. The creation of a solar energy system offers an unexpected and unique chance to release industrial society from the harmful consequences of the Industrial Revolution and to make available its positive accomplishments - particularly the social, democratic and cultural opportunities made possible by freeing mankind from slave labour - to all of mankind. Destruction of the environment is the greatest danger for industrialized societies pursuing economic growth, but it is not the only one. The Western high culture of welfare states is evidently a thing of the past. Created by the pressure of social movements that emerged in the Industrial Revolution, they stabilized capitalism by making it more responsive to the social needs in its strongholds. But both old and new contradictions, as well as the growth of welfare costs, lead to the conclusion that the future of the industrial system is increasingly seen only in terms of jettisoning its social obligations. Political democracy will then once more be in danger. Modern history is unable to provide an example of a stable democracy based on permanent mass misery

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.

Corporate Social Responsibility and Environmentally Sound Technology in Endogenous Firm Growth

Directory of Open Access Journals (Sweden)

Angela C. Chao

2017-02-01

Full Text Available We have entered the “New Normal” economy, with more emphasis on economic growth driven by innovation than resource. This paper investigates the impacts of firms considering corporate social responsibility and environmentally sound technology by building a three-stage Cournot competition model with asymmetric cost. The sustainable development of economic and endogenous firm growth achieves the win–win result in the theoretical model. Using data from 31 firms in China, this paper empirically researches on the relationships among corporate social responsibility, environmentally sound technology and firm endogenous growth. The results show that: (1 Marginal cost decreased with the increase of innovation, as well as getting government research and development subsidy, which has a positive effect on firm growth. (2 Consumers respond positively to corporate social responsibility initiative, the reputation of the firm can be improved. At the same time, environmentally sound technology objectively reduces the marginal cost of competitors because of the technology spillover. (3 Profit of a firm undertaking corporate social responsibility partly decreases, which has a negative effect on firm growth. The contradiction between corporate social responsibility and profit of firm could be adjusted, such as socially responsible investment fund hosed by institutional investors.

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.

Social murder: the long-term effects of conservative economic policy.

Science.gov (United States)

Chernomas, Robert; Hudson, Ian

2009-01-01

In this article, the authors take inspiration from Engels's 1845 account of the social murder committed by British capitalists to assess the contemporary impact of conservative economic policy, which they define as policies designed to maximize the accumulation of profit while socializing the associated risks and costs. Conservative economists argue that if their policy prescription is followed, it will produce broad-based economic benefits including more rapid growth, higher incomes, less illness, and, even, more democracy. The authors contrast the myth of conservative economic policy with the reality. What conservative economic policy has actually accomplished is a redistribution of wealth and power away from the vast majority of the population to firms and their owners. The effects of these policies on citizens and workers have been socially determined economic instability, unemployment, poverty, inequality, dangerous products, and infectious and chronic disease.

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.)

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.

U.S. Government Supports Low Emission Economic Growth (Fact Sheet)

Energy Technology Data Exchange (ETDEWEB)

Watson, A.; Sandor, D.; Butheau, M.

2013-11-01

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.

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....

Finance, growth and social fairness : Evidence for Latin America and Bolivia

NARCIS (Netherlands)

Sucre Reyes, M.A.

2014-01-01

This PhD thesis explores the role of finance in promoting economic growth and social fairness. Our case studies concentrate on Latin America and the Caribbean, and on Bolivia, a developing region and a country for which the relationship between finance, growth, and social fairness turns out to be

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...

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

SUSTAINABILITY OF ECONOMIC GROWTH AND INEQUALITY IN INCOMES DISTRIBUTION

Directory of Open Access Journals (Sweden)

Bogdan Ion Boldea

2012-07-01

Full Text Available The problem of inequality in incomes distribution is a present one, much discussed. Economic growth is considered an essential force to reduce the level of poverty by increasing the labor demand and finally the wages within the economy. But the extent to which poverty is reduced as a result of economic growth depends mostly on the initial inequalities in income and on how the distribution of income changes with economic growth. A lot of researches are focused on studying the evolution of inequality in incomes distribution and others have attempted to explore the relationship between income inequality and economic growth. There are also studies which try to identify the main factors which have impact on inequality in incomes distribution. The objective of this study is to put in discussion another possible factor that affects the variability on inequality of incomes distribution – economic growth variability. As background research, until now, we did not find any studies which are investigating this possible relation between inequality of incomes distribution and economic growth variability. To provide some empirical evidences for a positive impact of social output volatility on inequality of incomes’ distribution we are involving a small sample of 27 developing countries for an observation time span between 1995 and 2006. The values of the Gini coefficient reported in World Income Inequality Database are used as dependent variable. As a first step in testing our research hypothesis, we are involving a static panel data model with pooled ordinary least squares (OLS, fixed effects (FE and random effects (RE estimators. The F statistics tests the null hypothesis of same specific effects for all countries. If we accept the null hypothesis, we could use the OLS estimator. The Hausman test can decide which model is better: random effects (RE versus fixed effects (FE. The FE model was selected because it avoids the inconsistency due to

A cost-benefit analysis for the economic growth in China

International Nuclear Information System (INIS)

Wen, Zongguo; Chen, Jining

2008-01-01

Currently, traditional development issues such as income inequality, depletion of natural resources, environmental pollution as well as retardation of infrastructure have occurred in China. In the future, more pressures would be imposed on China by the continuous fast development of industrialization, and with transfer of the world manufacture center to China. Sustainable development, including its economic, environmental and social elements, is a key goal of decision-makers. This paper develops a methodology on cost benefit analysis of economic growth at macroscopic level to identify issues of China's sustainability. In order to address some important issues on how to make policies to improve the quality of economic growth, the CBA framework developed in this study analyses economic-ecological-social interaction, building three accounts that reflect three dimensions of sustainable development that includes 26 sub-models in all, and finally is integrated into an index as Net Progress Proceeds (NPP). The estimation methods of these submodels, such as cost of environmental pollution, depletion of natural resources and defensive expenditures are described in detail. Based on the framework and methods, this paper examines the costs and benefits of economic growth in three aspects of economy, ecology and society. The results illustrate that NPR of China's economic growth had been negative for a long time and has just became positive since year 2000 but was quite low. Even the best was only 1.6% in 2002 (the worst was - 24.2% in 1982). Based on the comparison between three accounts, we can draw a conclusion that ecological cost is the dominant factor that affects China's NPR. The empirical results show that if no other innovative measures or policies are taken in the future the costs of growth would outweigh its benefits, resulting in un-sustainability. Basically, the long-term economic growth would be unsustainable due to increasing environmental damage and depletion of

A cost-benefit analysis for the economic growth in China

Energy Technology Data Exchange (ETDEWEB)

Wen, Zongguo; Chen, Jining [Department of Environmental Science and Engineering, Tsinghua University, Beijing 100084 (China)

2008-04-01

Currently, traditional development issues such as income inequality, depletion of natural resources, environmental pollution as well as retardation of infrastructure have occurred in China. In the future, more pressures would be imposed on China by the continuous fast development of industrialization, and with transfer of the world manufacture center to China. Sustainable development, including its economic, environmental and social elements, is a key goal of decision-makers. This paper develops a methodology on cost benefit analysis of economic growth at macroscopic level to identify issues of China's sustainability. In order to address some important issues on how to make policies to improve the quality of economic growth, the CBA framework developed in this study analyses economic-ecological-social interaction, building three accounts that reflect three dimensions of sustainable development that includes 26 sub-models in all, and finally is integrated into an index as Net Progress Proceeds (NPP). The estimation methods of these submodels, such as cost of environmental pollution, depletion of natural resources and defensive expenditures are described in detail. Based on the framework and methods, this paper examines the costs and benefits of economic growth in three aspects of economy, ecology and society. The results illustrate that NPR of China's economic growth had been negative for a long time and has just became positive since year 2000 but was quite low. Even the best was only 1.6% in 2002 (the worst was - 24.2% in 1982). Based on the comparison between three accounts, we can draw a conclusion that ecological cost is the dominant factor that affects China's NPR. The empirical results show that if no other innovative measures or policies are taken in the future the costs of growth would outweigh its benefits, resulting in un-sustainability. Basically, the long-term economic growth would be unsustainable due to increasing environmental damage

European Funds – Instrument for Economic Stability/Growth

Directory of Open Access Journals (Sweden)

Anca Simina POPESCU

2014-11-01

Full Text Available The enlargement of European Union has finally brought a growth of public resources designed for regional policy, but also visible disparities between the member states. The objective of a stronger social and economic cohesion, of reduction of differences of social and economic development between the member states and EU regions, as well as the promotion of sustainable development of EU are reached through structural funds, the European financing being designed to serve as lever regarding public investments in associated countries. This work analyses the elements which assure economic stability in Romania, in the last year of programming period 2007-2013, following the crisis which disturbed global economy. The emphasis is laid on non-refundable EU funds allotted for Romania, which were analyzed both from the point of view of approved projects (but whose implementation did not start yet and regarding the contracted projects under way.

Cointegration and Causality between Public Expenditure and Economic Growth: Case of Kyrgyzstan

Directory of Open Access Journals (Sweden)

Raziye ABDIYEVA

2017-01-01

Full Text Available According to Wagner’s law there is unidirectional relationship from economic growth to public expenditure. Wagner’s states that increase of national income leads to faster growth of public expenditure. In other words, out of economic and social development in the country, people will demand more public goods and it will increase public expenditure at a faster rate than national income. This study is analyzing the long term and causality relationship between public expenditure and economic growth in Kyrgyzstan and tests the validity of Wagner's law in Kyrgyz economy by using an ARDL and Error Correction models over the period 1995 to 2014. Empirical results showed that there is an unidirectional causality relationship between economic growth and public expenditure in long term. Empirical evidence is support the validity of Wagner’s law in Kyrgyz economy.

Social and Economic Analysis Branch: integrating policy, social, economic, and natural science

Science.gov (United States)

Schuster, Rudy; Walters, Katie D.

2015-01-01

The Fort Collins Science Center's Social and Economic Analysis Branch provides unique capabilities in the U.S. Geological Survey by leading projects that integrate social, behavioral, economic, and natural science in the context of human–natural resource interactions. Our research provides scientific understanding and support for the management and conservation of our natural resources in support of multiple agency missions. We focus on meeting the scientific needs of the Department of the Interior natural resource management bureaus in addition to fostering partnerships with other Federal and State managers to protect, restore, and enhance our environment. The Social and Economic Analysis Branch has an interdisciplinary group of scientists whose primary functions are to conduct both theoretical and applied social science research, provide technical assistance, and offer training to support the development of skills in natural resource management activities. Management and research issues associated with human-resource interactions typically occur in a unique context and require knowledge of both natural and social sciences, along with the skill to integrate multiple science disciplines. In response to these challenging contexts, Social and Economic Analysis Branch researchers apply a wide variety of social science concepts and methods which complement our rangeland/agricultural, wildlife, ecology, and biology capabilities. The goal of the Social and Economic Analysis Branch's research is to enhance natural-resource management, agency functions, policies, and decisionmaking.

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.

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....

Korea: Balancing Economic Growth and Social Protection for Older Adults

Science.gov (United States)

Yoon, Hyun-Sook

2013-01-01

Population aging in Korea is projected to be the most rapid among Organisation for Economic Co-operation and Development (OECD) countries between 2000 and 2050. However, social spending in Korea remains low, reflecting Korea's relatively young population, limited health and long-term care insurance coverage, and immaturity of its pension system.…

Growth and Economic Opportunities for Women | Page 3 | IDRC ...

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

Growth and Economic Opportunities for Women. Language English. a woman in her shop, Ghana. Photo credit: World Bank. Read more about Building the evidence to grow female entrepreneurship. Language English. Read more about Together We Can: Assessing the Impact of Women's Action Groups on Social Change ...

Technical change and economic policy: science and technology in the new economic and social context

Energy Technology Data Exchange (ETDEWEB)

1980-01-01

Links between scientific research, technological development, and economic growth by the Organization for Economic Co-operation and Development are analyzed. The analysis is broken into four parts: (1) The New Economic and Social Context; (2) Trends in R and D and Innovation; (3) Technological Change and the Economy; and (4) Conclusions and Recommendations. The long-term structural nature of many of the problems facing western Europe are emphasized, and the limitations of short-term-demand management strategies in solving them.

The role of intangible assets in the regional economic growth

Directory of Open Access Journals (Sweden)

Jordi Suriñach

2011-01-01

Full Text Available This paper is the summary of the IAREG (Intangible Assets and RegionalEconomic Growth European project, which analyzed the role of intangibleassets (IA on regional economic growth. We focused on some of the most relevantintangible assets, for which statistical information is available and where the consortiumhad more expertise. Consequently, in this paper we put special attentionin four big factors: knowledge capital, human capital, social capital and entrepreneurshipcapital. Additional to the main characteristics of each of these IA (relatedwith their measurement and their effects on regional economic growth, we alsoanalyzed the ensemble effects of these IA over the location of firms. For each asset,we describe its main characteristics, the indicators for its measuring and its limitations,as well as the main results associated to its impact on regional growth. Wemust outline that in order to improve the analysis of the effects of the IA in regionaleconomic growth it is necessary to develop more and better databases. We presentsome thoughts in this respect, based on our research experience. Finally, we givesome policy implications and recommendations.

Economic Growth, Institutional Development and Personal Freedom: The Educational Needs of China.

Science.gov (United States)

Clarke, Thomas

1999-01-01

To sustain growth requires changes in the Chinese economy and society. The Asian financial crisis shows that independent institutions and individual freedoms are necessary to stimulate entrepreneurship and innovation. Conservative social values often promoted by the education and training system could hinder economic growth. (SK)

Solar energy`s economic and social benefits

Energy Technology Data Exchange (ETDEWEB)

Scheer, H. [Bundeshaus, Bonn (Germany)

1995-08-01

There are numerous indications that solar energy is far more than a mere stopgap measure to escape from the present environmental crisis. These include the natural as well as the developed, and still developing, technological potential of solar energy; the vast opportunities offered by abandoning destructive energy sources; and, not least, the new industrial perspectives arising from the conversion of our energy system. In addition to the environmental benefits, solar energy will bring about major economic and social gains. The creation of a solar energy system offers an unexpected and unique chance to release industrial society from the harmful consequences of the Industrial Revolution and to make available its positive accomplishments - particularly the social, democratic and cultural opportunities made possible by freeing mankind from slave labour - to all of mankind. Destruction of the environment is the greatest danger for industrialized societies pursuing economic growth, but it is not the only one. The Western high culture of welfare states is evidently a thing of the past. Created by the pressure of social movements that emerged in the Industrial Revolution, they stabilized capitalism by making it more responsive to the social needs in its strongholds. But both old and new contradictions, as well as the growth of welfare costs, lead to the conclusion that the future of the industrial system is increasingly seen only in terms of jettisoning its social obligations. Political democracy will then once more be in danger. Modern history is unable to provide an example of a stable democracy based on permanent mass misery

Challenges of rapid economic growth in China: Reconciling sustainable energy use, environmental stewardship and social development

International Nuclear Information System (INIS)

Li Yong; Oberheitmann, Andreas

2009-01-01

China aims at quadrupling per-capita GDP by 2020 compared to the year 2000. Without any energy and environmental policy measures, this tremendous economic growth would be associated with a quadrupling of primary energy consumption up to 6.3 billion tons of standard coal equivalents (sce) and energy-related CO 2 -emissions of 13.9 billion tons Against this background, this paper is to set China's need to implement its sustainable development strategy into the quantitative context of the countries economic development and subsequent economic growth-related environmental problems. China is urgently searching for a way to ease the negative implications of economic growth and has committed itself to achieve a level of 3.0 billion ton sce primary energy consumption in 2020. As a consequence, the macro-economic energy intensity has to be reduced by 53% by 2020. A reduction of 53% by 2020 would lead to an energy intensity level 30% points below the year-2000 level of developed countries. As for natural resources, the expected economic growth will lead to an increase of crude oil net-imports up to 455 million ton sce in 2020 and 650 million ton sce in 2030. As for regional income distribution, economic growth helped to decrease existing inequities

Too much of a good thing? Economic growth and human rights, 1960 to 2010.

Science.gov (United States)

Cole, Wade M

2017-09-01

Despite widespread belief in the benefits of economic growth, some scholars emphasize the potentially negative consequences of growth-and especially rapid growth-for social and political outcomes. Using data for 149 countries between 1960 and 2010, I analyze the effect of economic growth on fundamental human rights conditions. Dynamic random-effects and two-way fixed-effects estimators, both with and without instrumental variables, yield several conclusions. First, economic growth is causally prior to rights conditions. Second, economic growth has a modest positive effect on human rights, albeit with diminishing returns at high growth rates. Third, low-income countries account for much of this relationship: growth improves rights conditions for most low-income countries, but extremely rapid growth is inimical. Growth has little effect among middle-income countries, while for high-income countries the relationship is positive but not robust. I bring these findings to bear on long-standing debates between proponents and critics of modernization theory. Copyright © 2017 Elsevier Inc. All rights reserved.

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.

Economic growth, inequality, and the economic position of the poor in 1985-1995: an international perspective.

Science.gov (United States)

Kangas, Olli

2002-01-01

The "trickle-down" theory argues that wider income differences are good for economic growth, that growth is good for the poor, and therefore that widening income disparities benefit the poor. The theory thus fulfills Rawlsian principles of justice. The purpose of this article is to present a preliminary evaluation of the correctness of this theory. Income data for 21 countries were obtained from the Luxembourg Income Study, for the period 1985-95. The results of the analysis show no clear connections between inequality and economic prosperity. The wider the inequality, the worse is the absolute income of the poor. In this respect the theory is falsified. However, the trickle-down theory is partly correct in arguing for the beneficial effects of economic growth for the poor: the absolute income level of the poor is dependent on what is happening in the national economy, while the incidence and depth of poverty in advanced countries are not so much associated with economic factors as a result of national social policy programs.

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.

Economic and Social Models in Europe and the Importance of Reform

Directory of Open Access Journals (Sweden)

Martin Heipertz

2008-09-01

Full Text Available This paper contributes to the ongoing debate on European economic and social models. It provides a comparative assessment of fiscal and regulatory policies in 17 industrialised countries (the EU15, US and Japan and presents the records of these countries in attaining key economic and social objectives. Social and economic systems that feature efficient public sectors and flexible market structures tend to experience reasonably sustainable public finances, high economic growth, education standards and employment, and well-functioning markets. Anglo-Saxon countries broadly fit this mould, albeit, seemingly, at some cost of income equality. A more pronounced emphasis on welfare state policies and the corresponding relatively high levels of public spending bring benefit to income distribution in the Nordic countries while the resulting inefficiencies in their economies are counterbalanced by flexibility in labour and particularly product markets. Also, a number of reform-minded European countries have improved their fiscal and regulatory policies while significantly enhancing the functioning of markets, fiscal sustainability and economic performance. This was generally attained without jeopardising social objectives. On the other hand, those continental and Mediterranean countries that maintain market inefficiencies and at the same time sustain expensive and inefficient welfare states generally suffer from low growth and employment and less well-functioning markets and face serious risks to their economies’ fiscal sustainability. The findings of this note support calls for the comprehensive reform of fiscal policies, as well as of product and labour markets.

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...

The State Financial Policy as Instrument of Economic Growth

Directory of Open Access Journals (Sweden)

Mostitskaya Natalya А.

2017-12-01

Full Text Available The article is aimed at disclosing the essence and defining the role of the State financial policy as instrument of economic growth in the conditions of economic transformation. The main functions of the country’s financial policy were analyzed. The necessity of formation of institutional and methodological bases of the State financial mechanism with the purpose of strengthening of efficiency of structural changes of economy and social sphere has been substantiated. Directions of formation and implementation of the State financial policy on maintenance of socio-economic development of the country have been proposed.

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...

Does economic growth erode social capital and subjective well-being? Old question, new method

OpenAIRE

Mikucka, Malgorzata; Sarracino, Francesco; 3rd International Annual Conference of the LCSR: “Cultural and Economic changes under cross-national perspective”

2013-01-01

The work of Easterlin questioned the relationship between economic growth and life satisfaction. Subsequent research on “Easterlin paradox” provided conflicting evidence, which suggests that the paradox holds in some conditions but not in others. However, these conditions were only rarely investigated by the literature, in part because the debate has been limited by use of country-level aggregated data. Our paper fills this gap by investigating the relationship between economic growth and lif...

Economic inequality and economic crisis: a challenge for social workers.

Science.gov (United States)

Goldberg, Gertrude Schaffner

2012-07-01

To social workers, extreme economic inequality is primarily a violation of social justice, but this article shows how growing economic inequality since the mid-1970s was not only unjust, but also dysfunctional to the U.S. economy and linked to the recent economic crisis with its devastating effects, particularly on the social work clientele. The article identifies interrelated changes in ideology, the market economy, and government policies since the mid-1970s; contrasts the political economy of this period with the preceding post-World War II decades when the trend was toward a "shared prosperity"; and shows how increased economic inequality and political consequences that undermined democracy itself contributed to the economic meltdown. The analysis has implications for the direction of social reform and for broadening the constituency of social movements in pursuit of the social work mission of social justice. How social workers can contribute to such movements and to a reduction of economic and political inequality is explored.

SOCIAL INEQUALITY IN CHINA AS A RESULT OF THE RAPID ECONOMIC GROWTH

Directory of Open Access Journals (Sweden)

Вероника Игоревна Шехурдина

2013-12-01

Full Text Available Since the period of openness in China, laid the foundation for more than 30 years ago, he has made remarkable progress in increasing incomes and reducing absolute poverty. However, they are caused by rising inequality. It should be noted that the rise in inequality was seen almost everywhere in the world over the past two decades. Growing dissatisfaction with the quality of economic growth is often seen in favor of certain groups more than the general population. This is clearly reflected in the growth of inequality between different groups - the rich are getting richer faster than the poor. The economic literature attributes this mainly to globalization, technological change, skills-based, and reduce the "power" of the workers. Growth model, which accompanies the last three decades to China, included a trade-off between high growth (and subsequent reduction of absolute poverty and worsening inequality. The government of China has recognized this problem and taken active steps to reduce the gap incomes and standards of living in the city and rural areas, which have already brought the first results.DOI: http://dx.doi.org/10.12731/2218-7405-2013-10-16

A framework to investigate the economic growth impact of sea level rise

International Nuclear Information System (INIS)

Hallegatte, Stéphane

2012-01-01

This article reviews the channels through which sea level rise can affect economic growth, namely the loss of land, the loss of infrastructure and physical capital, the loss of social capital, the additional cost from extreme events and coastal floods, and the increased expenditure for coastal protection. It discusses how existing studies on the direct impact of sea level rise could be used to investigate the resulting consequences on economic growth, emphasizes research needs on this question, and discusses consequences on migration. (letter)

Resource Limitations, the Demand for Education and Economic Growth--A Macroeconomic View.

Science.gov (United States)

Stam, Jerome M.

To develop a theoretical framework for explaining the observed change in demand for human skill and knowledge that occurs with economic growth, a macroeconomic analysis was made of economic variables which are influenced by political, social, and cultural factors. In the three-dimensional framework, total output (Y) of all final goods and services…

Income Inequality Explains Why Economic Growth Does Not Always Translate to an Increase in Happiness.

Science.gov (United States)

Oishi, Shigehiro; Kesebir, Selin

2015-10-01

One of the most puzzling social science findings in the past half century is the Easterlin paradox: Economic growth within a country does not always translate into an increase in happiness. We provide evidence that this paradox can be partly explained by income inequality. In two different data sets covering 34 countries, economic growth was not associated with increases in happiness when it was accompanied by growing income inequality. Earlier instances of the Easterlin paradox (i.e., economic growth not being associated with increasing happiness) can thus be explained by the frequent concurrence of economic growth and growing income inequality. These findings suggest that a more even distribution of growth in national wealth may be a precondition for raising nationwide happiness. © The Author(s) 2015.

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

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)....

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.

Reforms in the Slovakia 2005. Evaluation of economical and social measures (The HESO Project)

International Nuclear Information System (INIS)

Zachar, D.

2006-07-01

The Slovak Republic faces the task to secure conditions for a long-term economic growth. A crucial precondition for an efficient implementation of economic and social measures is the knowledge of the status quo and of the impacts on the economy and the society as a whole, to be expected from the relevant measures and it is important to focus on short-term as well as on long-term goals. For a successful implementation of many economic and social measures citizens' acceptance is needed. Therefore, the non-governmental, non-profit organisation Institute for Economic and Social Reforms INEKO aims to make the public more familiar with the nature of economic and social processes in the country and abroad, and to eliminate, through economic research and educational activities, hindrances to a long-term positive development of the Slovak economy and society. (authors)

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

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...

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.

Social surplus approach and heterodox economics

OpenAIRE

Lee, Frederic; Jo, Tae-Hee

2010-01-01

Given the emphasis on social provisioning in heterodox economics, two of its central theoretical organizing principles are the concepts of the total social product and the social surplus. This appears to link heterodox economics to the social surplus approach associated with the classical economists and currently with Sraffian economists. However, heterodox economics connects agency with the social surplus and the social product, which the Sraffians reject as they take the level and composit...

[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)

Performance Agent Groups in the Promotion of Smart Economic Growth

Directory of Open Access Journals (Sweden)

Krūzmētra Maiga

2017-12-01

Full Text Available Any country is interested in economic growth regardless of its development level in any period; yet an increasingly important role in defining growth is played by the term ‘smart growth’. The EU development strategy until 2020 defines smart growth as a strategic objective. Smart growth does not take place automatically. It is affected both by the condition of the economic, social and natural environments and by subjective factors - the competence of performance agents. The present research distinguished three groups of rural space and regional performance agents: national institutions, local governments and communities of residents of the territories examined by the research. The research summarised the opinions of experts (Latvia n=171; Lithuania n=163 from the south-eastern part of Latvia and the north-eastern part of Lithuania with the purpose of assessing the contribution of the performance agent groups to the promotion of smart economic growth. The research aimed to identify the positive indications of the contribution made by each performance agent group as well as the largest problems affecting the promotion of smart economic growth in each country. Despite the fact that the sample groups were not representative (did not reflect the views of the entire population, the obtained survey data and the results of this analysis provided insight into the performance agents’ action ratings from the bottom-up position and allowed comparing the situations in Latvia and Lithuania. The research has become an urgent task in project No. 5.2.3 “Rural and Regional Development Processes and Opportunities in Latvia in the Context of Knowledge Economy” in National Research Programme 5.2. "Economic Transformation, Smart Growth, Governance and Legal Framework for the State and Society for Sustainable Development - a New Approach to the Creation of a Sustainable Learning Community: EKOSOC-LV”.

The Impact of Taxation on Economic Growth: Case Study of OECD Countries

Directory of Open Access Journals (Sweden)

Macek Rudolf

2015-01-01

Full Text Available The aim of this paper is to evaluate the impact of individual types of taxes on the economic growth by utilizing regression analysis on the OECD countries for the period of 2000–2011. The impact of taxation is integrated into growth models by its impact on the individual growth variables, which are capital accumulation and investment, human capital and technology. The analysis in this paper is based on extended neoclassical growth model of Mankiw, Romer and Weil (1992, and for the verification of relation between taxation and economic growth the panel regression method is used. The taxation rate itself is not approximated only by traditional tax quota, which is characteristic by many insufficiencies, but also by the alternative World Tax Index which combines hard and soft data. It is evident from the results of both analyses that corporate taxation followed by personal income taxes and social security contribution are the most harmful for economic growth. Concurrently, in case of the value added tax approximated by tax quota, the negative impact on economic growth was not confirmed, from which it can be concluded that tax quota, in this case as the indicator of taxation, fails. When utilizing World Tax Index, a negative relation between these two variables was confirmed, however, it was the least quantifiable. The impact of property taxes was statistically insignificant. Based on the analysis results it is evident that in effort to stimulate economic growth in OECD countries, economic-politic authorities should lower the corporate taxation and personal income taxes, and the loss of income tax revenues should be compensated by the growth of indirect tax revenues.

Economic efficiency versus social equality? The U.S. liberal model versus the European social model.

Science.gov (United States)

Navarro, Vicente; Schmitt, John

2005-01-01

This article begins by challenging the widely held view in neoliberal discourse that there is a necessary trade-off between higher efficiency and lower reduction of inequalities: the article empirically shows that the liberal, U.S. model has been less efficient economically (slower economic growth, higher unemployment) than the social model in existence in the European Union and in the majority of its member states. Based on the data presented, the authors criticize the adoption of features of the liberal model (such as deregulation of their labor markets, reduction of public social expenditures) by some European governments. The second section analyzes the causes for the slowdown of economic growth and the increase of unemployment in the European Union--that is, the application of monetarist and neoliberal policies in the institutional frame of the European Union, including the Stability Pact, the objectives and modus operandi of the European Central Bank, and the very limited resources available to the European Commission for stimulating and distributive functions. The third section details the reasons for these developments, including (besides historical considerations) the enormous influence of financial capital in the E.U. institutions and the very limited democracy. Proposals for change are included.

Catch up growth and social capability in developing countries: A conceptual and measurement proposal

Directory of Open Access Journals (Sweden)

Martin Andersson

2017-12-01

Full Text Available While the income per capita in the developing world since the turn of the Millennium has grown faster than that of the developed world, the question whether there is an ongoing process of catching up between countries remains. The notion of income convergence has provided many insights into the sources for long-run growth but has largely neglected the role of social capabilities in economic development. By social capabilities we mean the qualification of the ‘theory of convergence’ which asserts that productivity growth rates  between countries tend to vary inversely with regard to productivity levels. The social capabilities approach holds that a country’s potential for rapid growth is strong when “it is technologically backward but socially advanced” (see Abramovitz, 1986:388. This means that the potential to catch up under globalization is strongest for countries in which social capabilities are developed to allow successful use of technologies and where institutional arrangements are conducive to economic progress. Yet there is no clear agreement in the literature on the main components of social capabilities or how to measure them. Our framework argues that the role of capabilities in catching up needs to understand them in terms of structural transformation, economic and social inclusion, state´s autonomy and accountability. Without progress in these dimensions within-country inequality may increase and might in turn lead to stagnating growth and slim prospects for global income convergence.

Course of change in economic and social environment associated with energy. Population, life, industry

Energy Technology Data Exchange (ETDEWEB)

Yoshimatsu, Michio

1988-03-01

As regards long-term forecast of economic and social environment in Japan, STANDARD economic and social vision based on the course of economical growth was adopted in the report of LONG-TERM VISION OF ENERGY INDUSTRY. The average annual economic growth rate is expected to be still a little higher than the average of that of the developed countries, being supported by the industiral activities by industries engaged in frontier science, manufacturing industries engaged in electrical processing and assembling, etc. In the primary and secondary industries, the number of employees may drop down to about one third. Tokyo may become the center of finance and information surpassing New York and London. The people may enjoy a rich, confortable and cultural life. Problems may arise from enhancement of individualism, increase in advanced aged population, acturization of regional differentials, etc. (3 figs, 3 tabs)

Do social grants contribute to the jobless population growth in the former South African homelands?

CSIR Research Space (South Africa)

Geyer, H

2018-05-01

Full Text Available migration. A possible reason could be the high level of dependency on social grants in the former homelands. The article analyses population growth rates, economic growth rates and the ratio of social grant recipients within former homeland settlements...

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 ...

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 ...

Economic Inequality and Economic Crisis: A Challenge for Social Workers

Science.gov (United States)

Goldberg, Gertrude Schaffner

2012-01-01

To social workers, extreme economic inequality is primarily a violation of social justice, but this article shows how growing economic inequality since the mid-1970s was not only unjust, but also dysfunctional to the U.S. economy and linked to the recent economic crisis with its devastating effects, particularly on the social work clientele. The…

REGIONAL ECONOMIC GROWTH THROUGH TOURISM. THE CASE OF REGION WEST

Directory of Open Access Journals (Sweden)

Dragoi Ionut

2010-12-01

Full Text Available The regional development should aim to correlate and integrate tourism among the other integrative parts of the regional and local development, taking into account the fact that a region’s prosperity as effect of tourism development may be shown clearly in several stages: on the spot (as a result of direct consumption of the tourist product, on short term (through continuous absorption of the work-force and encouraging the welcoming commerce and in the long run (concentrating capital for investment in the general infrastructure and the one of tourism, in structures of reception for tourism and in the development of urban services. The analysis of intra-regional disparities as part of the economic growth at the level of Region West starts off with the idea that each component county has a different landscape, which favored or inhibited their economic growth; in the same time, each component county has its own specific, which can be promoted through tourism, inducing in time a regional income, and respectively, a social-economic and cultural growth of less developed areas.

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)

How do economic growth and social capital shape subjective well-being? Old question, new method

OpenAIRE

Mikucka, Malgorzata; Sarracino, Francesco; The 4th LCSR International Workshop “Social and Cultural Changes in Cross-National Perspective: Values and Modernization”

2014-01-01

The work of Easterlin questioned the relationship between economic growth and life satisfaction. Subsequent research on “Easterlin paradox” provided conflicting evidence, which suggests that the paradox holds in some conditions but not in others. However, these conditions were only rarely investigated by the literature, in part because the debate has been limited by use of country-level aggregated data. Our paper fills this gap by investigating the relationship between economic growth and lif...

Economic and social survey of Asia and the Pacific, 1982

Energy Technology Data Exchange (ETDEWEB)

1983-01-01

A general economic slowdown in the Asia-Pacific countries since 1981 has slowed development and increased unemployment and fiscal deficits. In preparation for the United Nations review of international development strategy, Part one of this volume examines economic, energy, and social developments under the current recession. Part two examines the role of fiscal policies as they relate to growth, employment, equity, stability, and development planning. 235 references, 23 figures, 64 tables. (DCK)

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...

On the Question of Studying the Role of Social Capital under the Conditions of the Socio-Economic Crisis

Directory of Open Access Journals (Sweden)

Dmitrii Vladimirovich Afanas’ev

2015-09-01

Full Text Available The concept of social capital has gained considerable popularity in the social sciences, as well as in practical politics on a national and international scale. Its heuristic potential is confirmed by numerous studies demonstrating the positive impact of the level and types of social capital on a wide range of economic, social and political phenomena, and especially the use of the concept of social capital to study economic growth and development issues. However, there is no universally accepted definition of social capital, and there is no unanimous opinion concerning the ways of measuring it. The paper contains a review of the current status of the theoretical field of the concept; it shows that researchers from different countries are interested in the impact of social capital on economic growth and development at the regional level. Specific comparative studies in different countries and regions strongly support the presence of a correlation that proves social capital is one of the powerful driving forces of development. However, since the majority of studies on the effects of social capital on economic development are concentrated in the developed countries of Western Europe and the USA, it is important to evaluate the potential of this approach in the countries of post-Communist development that have different experience, in particular, in Russia. In this regard, the article points out that there is a clear lack of such studies with regard to Russia’s regions, where there are only occasional fragmentary attempts to study social capital. The aim of the paper is to substantiate on the theoretical basis and to indicate the prerequisites for empirical studies on the effects of social capital of regions on their economic growth and development, especially under the conditions of the general economic and structural crisis

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...

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.

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 ...

As Bad as it Gets: How Climate Damage Functions Affect Growth and the Social Cost of Carbon

OpenAIRE

Bretschger, Lukas; Pattakou, Aimilia

2017-01-01

The paper analyzes the effects of varying climate impacts on the social cost of carbon and economic growth. We use polynomial damage functions in a model of an endogenously growing two-sector economy. The framework includes nonrenewable natural resources which cause greenhouse gas emissions; pollution stock harms capital and reduces economic growth. We find a big effect of the selected damage function on the social cost of carbon and a significant impact on the growth rate. In our calibration...

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.

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.

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…

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.

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.

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.

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

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...

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.

Does health promote economic growth? Portuguese case study: from dictatorship to full democracy.

Science.gov (United States)

Morgado, Sónia Maria Aniceto

2014-07-01

This paper revisits the debate on health and economic growth (Deaton in J Econ Lit 51:113-158, 2003) focusing on the Portuguese case by testing the relationship between growth and health. We test Portuguese insights, using time series data from 1960 to 2005, taking into account different variables (life expectancy, labour, capital, infant mortality) and considering the years that included major events on the political scene, such as the dictatorship and a closed economy (1960-1974), a revolution (1974) and full democracy and an open economy (1975-2005), factors that influence major economic, cultural, social and politic indicators. Therefore the analysis is carried out adopting Lucas' (J Monet Econ 22(1):3-42, 1988) endogenous growth model that considers human capital as one factor of production, it adopts a VAR (vector autoregressive) model to test the causality between growth and health. Estimates based on the VAR seem to confirm that economic growth influences the health process, but health does not promote growth, during the period under study.

Economic and social development, energy and environment in Latin America and the West Indies - an ovierview

International Nuclear Information System (INIS)

Suding, P.H.

1995-01-01

After giving a short overview of the economic and social development of Latin America since 1980 the present article deals with the various problems relating to the energy supply of that region, namely economic growth, diversification, inefficiency, and environmental effects. If discusses the relationships that exist in Latin America between energy, environment, and the social situation and endeavours to outline possible approaches towards a socially and environmentally sustainable development. (UA) [de

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)

CRESCIMENTO ECONÔMICO E SUSTENTABILIDADE / Economic Growth and Sustainability

Directory of Open Access Journals (Sweden)

Gilberto Montibeller-Filho

2007-06-01

Full Text Available The subject “economic growth and sustainability” refers to the relationship between economicgrowth and its positive impact on the wellbeing of the population and on the environment. It is,therefore, about economic, as well as social and environmental, sustainability, i.e. the root ofthe sustainable development paradigm. A historical review is needed for understanding theroots of the emergence of this new socio-political and scientific paradigm. It starts from themoment when the economy was mainly viewed as an evil against the environment, to the pointwhen the new sustainable development, or eco-development, is developed. Then the paperpresents the present, and most important, ways that several public and private actions attemptto develop their economic activities guided by this paradigm, emphasising the Brazilian context.

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

Emergence and Diffusion of Institutions and their Effect on Economic Growth

NARCIS (Netherlands)

Bruns, K.

2017-01-01

The question ‘Why are some so rich and others so poor?’ has always concerned social scientists. Among economists, consensus has been reached that the focus should be on the fundamental causes, not the proximate factors that cause differences in economic growth. This thesis sheds light on some of the

The impact of electricity supply on economic growth in Sri Lanka

International Nuclear Information System (INIS)

Morimoto, R.; Hope, C.

2006-01-01

World net electricity consumption is expected to double over the next two decades. With increasing demand, electricity shortages will be prevalent, particularly in developing countries. An adequate and regular power supply would support economic growth in developing countries. Previous studies have demonstrated a strong correlation between electricity use and economic development. Studies have shown that there is a bi-directional causal relationship between gross domestic product and electricity consumption in Taiwan for the period 1954 to 1997. In order to examine the impact of electricity supply on economic growth in Sri Lanka, this paper presented the results of a study that applied Yang's model, using a simple regression analysis. The paper presented the methodology and estimation results. The study incorporated a cost benefit analysis model which assessed the economic, social and environmental impacts of dam projects in Sri Lanka. It was concluded that the application of Yang's regression analysis is one possible approach to estimate a better range for the expected increase in economic output parameter. 14 refs., 1 tab., 3 figs

Does FDI influence economic growth in Albania?

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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.

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 ...

Economic Growth and Budget Constraints: EU Countries Panel Data Analysis

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Zimčík Petr

2016-06-01

Full Text Available The aim of this paper is to identify the impacts of different taxes and expenditures on economic growth. The research is focused on 20 selected European Union Member States. These countries are equally divided into four groups based on their average tax burden as presented in the World Tax Index. A comparison of fiscal attributes among these groups is important for the analysis. Annual government finance data from the years 1995 to 2012 are used for an empirical study. The indicators observed are real GDP change, the composition and volume of total government expenditures, tax quotas of individual taxes and total budget balance. These indicators are used within an endogenous growth model together with capital stock and an approximation of human capital. A panel regression with fixed effects is used as an analytic tool. The main results are that an increase in social contributions, property, production and personal income tax quotas has an adverse effect on economic growth.

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

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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.

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.

Sustainable Economic Growth: a Perspective for Macedonia

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Sevil Rexhepi

2013-09-01

Full Text Available Retrospective analysis shows that since 1990’s, ex-socialist economies were in transition. This process was multidimensional and had deep roots. In most transition economies, output (GDP is determined by the availability of labour, capital and their productivity (TFP. Hence, these indicators are not generating the business cycles, which is typical for market economies in the long-term. At this point, it is vital to understand the reasons of low-level of capital accumulation in transition economies in order to find opportunities to make better use of physical, human and social capital. Furthermore, it is observed that in these economies, institutions needed to be re-established or the rules of the game needed to be changed to regulate incentive structures that will lead to growth. The main objective of this research is to identify the peculiarity of economic growth in Macedonia and to examine if achieving smart growth in long-term is possible; which is supported by fundamental notions of sustainable development.

Poverty, economic growth, deprivation, and water: the cases of Cambodia and Vietnam.

Science.gov (United States)

Varis, Olli

2008-05-01

Poverty reduction decorates all development agendas, but the complexity of the poverty issue is too often hidden behind simplistic indicators and development goals. Here, a closer look is taken at the concepts of "deprivation" and "vulnerability" as outcomes of poverty. Deprivation leads typically to social exclusion and marginalization; such groups are particularly weak in getting themselves out of poverty by "self-help," and economic growth does not trickle down to these people. When looking at the connections between poverty reduction and economic growth, special emphasis should be put on the differences between modern and more traditional sectors: development of the modern sector should not marginalize and exclude those dependent on more traditional livelihoods. Two case studies--The Tonle Sap area, Cambodia, and the Mekong Delta, Vietnam--reveal that investment in education, empowerment of small-scale entrepreneurship and other means of microeconomic environment, along with good governance, infrastructure, and income distribution can ensure that economic growth includes the poorer echelons of society.

Temperature impacts on economic growth warrant stringent mitigation policy

Science.gov (United States)

Moore, Frances C.; Diaz, Delavane B.

2015-02-01

Integrated assessment models compare the costs of greenhouse gas mitigation with damages from climate change to evaluate the social welfare implications of climate policy proposals and inform optimal emissions reduction trajectories. However, these models have been criticized for lacking a strong empirical basis for their damage functions, which do little to alter assumptions of sustained gross domestic product (GDP) growth, even under extreme temperature scenarios. We implement empirical estimates of temperature effects on GDP growth rates in the DICE model through two pathways, total factor productivity growth and capital depreciation. This damage specification, even under optimistic adaptation assumptions, substantially slows GDP growth in poor regions but has more modest effects in rich countries. Optimal climate policy in this model stabilizes global temperature change below 2 °C by eliminating emissions in the near future and implies a social cost of carbon several times larger than previous estimates. A sensitivity analysis shows that the magnitude of climate change impacts on economic growth, the rate of adaptation, and the dynamic interaction between damages and GDP are three critical uncertainties requiring further research. In particular, optimal mitigation rates are much lower if countries become less sensitive to climate change impacts as they develop, making this a major source of uncertainty and an important subject for future research.

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

Social Security Reform and Population Ageing in a Two-Sector Growth Model

NARCIS (Netherlands)

van Groezen, B.J.A.M.; Meijdam, A.C.; Verbon, H.A.A.

2002-01-01

This paper analyses the effects of reducing unfunded social security and population ageing on economic growth and welfare, both for a small open economy and for a closed economy.The economy consists of a service sector and a commodity sector.Productivity growth only occurs in the latter sector and

Modelling the interaction between flooding events and economic growth

Science.gov (United States)

Grames, Johanna; Grass, Dieter; Prskawetz, Alexia; Blöschl, Günther

2015-04-01

Socio-hydrology describes the interaction between the socio-economy, water and population dynamics. Recent models analyze the interplay of community risk-coping culture, flooding damage and economic growth (Di Baldassarre, 2013, Viglione, 2014). These models descriptively explain the feedbacks between socio-economic development and natural disasters like floods. Contrary to these descriptive models, our approach develops an optimization model, where the intertemporal decision of an economic agent interacts with the hydrological system. This is the first economic growth model describing the interaction between the consumption and investment decisions of an economic agent and the occurrence of flooding events: Investments in defense capital can avoid floods even when the water level is high, but on the other hand such investment competes with investment in productive capital and hence may reduce the level of consumption. When floods occur, the flood damage therefore depends on the existing defense capital. The aim is to find an optimal tradeoff between investments in productive versus defense capital such as to optimize the stream of consumption in the long-term. We assume a non-autonomous exogenous periodic rainfall function (Yevjevich et.al. 1990, Zakaria 2001) which implies that the long-term equilibrium will be periodic . With our model we aim to derive mechanisms that allow consumption smoothing in the long term, and at the same time allow for optimal investment in flood defense to maximize economic output. We choose an aggregate welfare function that depends on the consumption level of the society as the objective function. I.e. we assume a social planer with perfect foresight that maximizes the aggregate welfare function. Within our model framework we can also study whether the path and level of defense capital (that protects people from floods) is related to the time preference rate of the social planner. Our model also allows to investigate how the frequency

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

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.

On climate change and economic growth

International Nuclear Information System (INIS)

Fankhauser, Samuel; Tol, Richard S.J.

2005-01-01

The economic impact of climate change is usually measured as the extent to which the climate of a given period affects social welfare in that period. This static approach ignores the dynamic effects through which climate change may affect economic growth and hence future welfare. In this paper we take a closer look at these dynamic effects, in particular saving and capital accumulation. With a constant savings rate, a lower output due to climate change will lead to a proportionate reduction in investment which in turn will depress future production (capital accumulation effect) and, in almost all cases, future consumption per capita. If the savings rate is endogenous, forward looking agents would change their savings behavior to accommodate the impact of future climate change. This suppresses growth prospects in absolute and per capita terms (savings effect). In an endogenous growth context, these two effects may be exacerbated through changes in labour productivity and the rate of technical progress. Simulations using a simple climate-economy model suggest that the capital accumulation effect is important, especially if technological change is endogenous, and may be larger than the direct impact of climate change. The savings effect is less pronounced. The dynamic effects are more important, relative to the direct effects, if climate change impacts are moderate overall. This suggests that they are more of a concern in developed countries, which are believed to be less vulnerable to climate change. The magnitude of dynamic effects is not sensitive to the choice of discount rate

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...

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

Social security reform and population ageing in a two-sector growth model

NARCIS (Netherlands)

Groezen, Bas van; Meijdam, L.; Verbon, H.

2002-01-01

This paper analyses the e¤ects of reducing unfunded social security and population ageing on economic growth and welfare, both for a small open economy and for a closed economy. The economy consists of a service sector and a commodity sector. Productivity growth only occurs in the latter sector

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

Economic consequences of population size, structure and growth.

Science.gov (United States)

Lee, R

1983-01-01

There seems to be 4 major approaches to conceptualizing and modeling demographic influences on economic and social welfare. These approaches are combined in various ways to construct richer and more comprehensive models. The basic approaches are: demographic influences on household or family behavior; population growth and reproducible capital; population size and fixed factors; and population and advantages of scale. These 4 models emphasize the supply side effects of population. A few of the ways in which these theories have been combined are sketched. Neoclassical growth models often have been combined with age distributed populations of individuals (or households), assumed to pursue optimal life cycle consumption and saving. In some well known development models, neoclassical growth models for the modern sector are linked by labor markets and migration to fixed factor (land) models of the traditional (agricultural) sector. A whole series of macro simulation models for developed and developing countries was based on single sector neoclassical growth models with age distributed populations. Yet, typically the household level foundations of assumed age distribution effects were not worked out. Simon's (1977) simulation models are in a class by themselves, for they are the only models that attempt to incorporate all the kinds of effects discussed. The economic demography of the individual and family cycle, as it is affected by regimes of fertility, mortality, and nuptiality, taken as given, are considered. The examination touches on many of the purported consequences of aggregate population growth and age composition, since so many of these are based implicitly or explicitly on assertions about micro level behavior. Demographic influences on saving and consumption, on general labor supply and female labor supply, and on problems of youth and old age dependency frequently fall in this category. Finally, attention is focused specifically on macro economic issues in

THE CONNECTION BETWEEN ECONOMIC GROWTH AND STOCK MARKETS

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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.

QUALITY OF NATIONAL ECONOMIC GROWTH: FACTORS AND DETERMINANTS

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Nikolaj I. Komkov

2015-01-01

Full Text Available The subject / topic: TThe theme of this article is very relevant in the light of changes in the global geo-economic structure and changing the role and place ofRussiain world economic and geopolitical relations. The article deals with the basic aspects of national economic growth, which slowed down in the last three years. The main reason for slowing national economic growth is associated with the depletion of the reserves of the traditional export-oriented development of the Russian economy, as well as problems with sluggish innovative transformation. In this paper, based on a systematic analysis of economic processes and the interpretation of analytical data, addresses the general theoretical and methodological aspects of the quality of economic development, as well as practical guidelines and recommendations related to sustainable national socio-economic development in the context of external constraints.The purpose / objectives: The aim of the article is to analyze the theoretical and methodological aspects of the quality of economic development of the Russian economy, which happened in the face of economic sanctions. Objectives of the article: justify practical directions and recommendations related to sustainable national socio-economic development in the context of external constraints, determine the prospects for the economy of theRussian Federationin the conditions of the introduction of sectoral sanctions by Western countries. Methodology:Methodological basis of this article are the comparative and economic-statistical methods of analysis.The Results: The study revealed that the harsh environment (sanctions, depreciation of the ruble, and others. Require surgical intervention and adjustments not only the current socio-economic plans, but also to take urgent measures to ensure the development prospects. The most important decision is the degree of support advanced scientific and technical programs and the creation of new domestic

SUSTAINABLE ECONOMIC GROWTH THROUGH EXTERNAL TRADE

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Valentina Vasile

2016-12-01

Full Text Available A country’s economic growth is directly influenced by the external trade activity, which is considered by the majority of economists as one of the main engines of a country. How international trade can contributes to a sustainable development of a country depends broadly on the economic policies as well as on global and regional strategies to support the actions for this objective. The high level political meeting of United Nations Organization’s Member States in September 2015 has as aim the adoption of 2030 Agenda for Sustainable Development, which includes global economic, social and environmental goals. Any strategy or global policy influences, of course, in a direct way the international trade activities, by how these measures affect or determine relations between states to achieve the sustainable development objectives. Being involved in all sectors of economic and social life to achieve these noble goals, foreign trade is of course on the list of key areas as well as on the list of the domains being influenced by the global strategy adopted in the framework of the largest summit of its kind in the history of the United Nations. The aim of this paper is to provide an overview of external trade activity of Romania, taking into account the characteristics of companies involved in exports and imports of goods in Romania as well as to identify the key areas to be further developed for a sustainable development of national economy based on export activity. Romania's sustainable development can be achieved in the medium and long term by complementary and converging actions such as increased expenditure on research and development field, attracting as a priority the Greenfield investments, increasing productivity of national capital (human, natural, technological or ensure the efficiency at microeconomic and macroeconomic level. Increasing the share of products and activities using a small amount of energy and material resources but which

Economic and Social Potential of Family-supporting Services, Limits and Challenges

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Peter Thijs

2014-01-01

Full Text Available Due to the increase of the economic pressure on households, it is increasingly more difficult to balance family life and economic activity. Reasons for this evolution can be the increased labour market participation of women, the ageing of the population to name a few. Within the EU, different systems to offer assistance in creating a balanced social and economically active life have been established in numerous countries. However, the aims, results and general scope of these national policies differ.The main focus of this paper will be the Belgian situation, i.e. the voucher system (services cheques. Starting with a general view of the reasons of existence of family-support services, followed by the different support services policies offered in various European countries, the Belgian situation will be discussed.The voucher system in Belgium has encountered an explosive boom which brings unexpected results and side effects. These affect the country’s social economical system. The paper discusses the evolution of the system. What are the reasons for the unexpected success? What are the economic and social consequences for a modern active welfare state, can growth be limitless? The paper will attempt to provide answers on these questions raised.

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.

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.

EVIDENCE ON EMPLOYMENT RATE AND ECONOMIC GROWTH

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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?

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...

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.

Social memory, social stress, and economic behaviors

OpenAIRE

Taiki Takahashi

2005-01-01

Social memory plays a pivotal role in social behaviors, from mating behaviors to cooperative behaviors based on reciprocal altruism. More specifically, social/person recognition memory is supposed, by behavioral-economic and game-theoretic analysis, to be required for tit- for-tat like cooperative behaviors to evolve under the N-person iterated prisoner fs dilemma game condition. Meanwhile, humans are known to show a social stress response during face-to-face social interactions, which might ...

Mixed, private, and public educational financing regimes: economic growth and income inequality effects

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Trabelsi Salwa

2017-01-01

Full Text Available The issue of mixed educational financing is rarely evoked in the literature, although the financial contribution of parents in the public educational system can be significant. This paper presents a comparative analysis of the mixed system and public and private ‘extreme’ systems in terms of economic growth and social disparity. For developing countries and for heterogeneous individuals, the mixed system is widely preferred. For homogeneous agents the public and private systems cannot lead to better economic performance than the mixed system. The public system always reduces social inequality, in contrast to the mixed and private systems, which generate the same level of inequality.

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.

Social and Economic Impact of Rural Women’s Participation in Agricultural Projects: A Case Study of Kigumo Sub-County, Kenya

OpenAIRE

Juliet Wambui Wainaina; Florence Ondieki-Mwaura

2014-01-01

Enhancing women's participation in development is essential not only for achieving social justice but also for reducing poverty. Worldwide experience shows that supporting a stronger role for women contributes to economic growth, improves child survival and overall family health, and it reduces fertility, thus helping to slow population growth rates. In short, investing in women is central to sustainable development. This study sought to find out the social and economic impacts brought about ...

Economic growth and carbon emission control

Science.gov (United States)

Zhang, Zhenyu

The question about whether environmental improvement is compatible with continued economic growth remains unclear and requires further study in a specific context. This study intends to provide insight on the potential for carbon emissions control in the absence of international agreement, and connect the empirical analysis with theoretical framework. The Chinese electricity generation sector is used as a case study to demonstrate the problem. Both social planner and private problems are examined to derive the conditions that define the optimal level of production and pollution. The private problem will be demonstrated under the emission regulation using an emission tax, an input tax and an abatement subsidy respectively. The social optimal emission flow is imposed into the private problem. To provide tractable analytical results, a Cobb-Douglas type production function is used to describe the joint production process of the desired output and undesired output (i.e., electricity and emissions). A modified Hamiltonian approach is employed to solve the system and the steady state solutions are examined for policy implications. The theoretical analysis suggests that the ratio of emissions to desired output (refer to 'emission factor'), is a function of productive capital and other parameters. The finding of non-constant emission factor shows that reducing emissions without further cutting back the production of desired outputs is feasible under some circumstances. Rather than an ad hoc specification, the optimal conditions derived from our theoretical framework are used to examine the relationship between desired output and emission level. Data comes from the China Statistical Yearbook and China Electric Power Yearbook and provincial information of electricity generation for the year of 1993-2003 are used to estimate the Cobb-Douglas type joint production by the full information maximum likelihood (FIML) method. The empirical analysis shed light on the optimal

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

Economic Constitution, social democracy, innovation and economic culture of Basque Cooperativism

Directory of Open Access Journals (Sweden)

Santiago Larrazabal Basañez

2009-12-01

Full Text Available In the study of Constitutional Law, the author calls for more attention to be paid to the part in which almost all Constitutions set down economic models, the guiding principles of social and economic policy and economic and social rights. He makes this suggestion with a view to going beyond a formal democracy and moving towards a material democracy. For this purpose, he focuses on the values and economic culture of the cooperative movement and advocates inspiration in these values to innovate and search for a fairer economic and social model which will enable us to overcome the present crisis. Lastly, he poses some issues related to innovation in the specific contextof Basque cooperativism.Received: 06.07.2009Accepted: 08.07.2009

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 ...

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.

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,...

Regional Economic Growth; Socio-Economic Disparities among Counties

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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.

Fiscal Policy and Economic Growth in Nigeria

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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.

Institutions, Technological Change and Economic Growth

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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.

ANALYSIS OF FACTORS WHICH AFFECTING THE ECONOMIC GROWTH

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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

Honesty, trust and economic growth - A cross-cultural comparison of western industrialized countries

NARCIS (Netherlands)

Fetchenhauer, D; van der Vegt, G

This article investigates cross-country differences in economic growth rates from a psychological perspective. Based on social capital theory it is argued that 1) financial honesty and trust are positively correlated with each other when they are aggregated on a country level and that 2) a high

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.

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.

Do we understand the linkages between economic growth, poverty targets and poverty reduction?

DEFF Research Database (Denmark)

Casse, Thorkil; Jensen, Stig Eduard Breitenstein

2009-01-01

This article contributes to the debate on poverty trends in Africa, looking at the argument for a correspondence between economic growth and poverty reduction. It questions whether a link between economic growth and poverty reduction can be established. We first look at the general picture...... appears more obvious, social and political unrest in 2009 casts doubt on the reliability of the data. Indeed, it is probable that an increase in poverty contributed to the crisis in Madagascar. Furthermore, there a signs that in both countries poverty strategies are increasingly giving way to Poverty...... Reduction Growth Facility programmes, closely related to former structural adjustment loans. We conclude, first, that analysing poverty strategies through Poverty Reduction Strategy Papers does not help in resolving the uncertainty, since these strategies assume a priori the existence of a link between...

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 ...

Distribution of Financial Resources Within the Budget System of the Russian Federation and Regions’ Economic Growth

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Artyom Gennadyevich Isaev

2016-12-01

Full Text Available This article examines the impact of central government transfers and other sources of regional budget revenues (income tax and property tax on per capita GRP growth in Russian regions. Analysis is based on official data of 78 regions for the period 2005-2014. The results indicate that transfers, while intending to be an instrument of regional incomes equalization, are negatively associated with economic growth of Russian regions, which contrasts with other estimates of federal transfers’ impact on regional economic growth in Russia. This phenomenon can be explained by high rate of social expenditures in regional governments’ spending. At the same time there is positive relationship between regional budget’s investment and economic growth that indicates significant role of public goods for regional economic development. This study can be considered as confirmation of those conclusions concerning impact of fiscal decentralization on economic growth of Russian regions which claim that current system of intergovernmental relations on sub-national level cannot embody the benefits of fiscal federalism as a principle of effective regional development. Significant factors of regional per capita GRP growth are own sources of region’s budget revenues which reflect costs of doing business. So the rise in property taxes retards economic growth in a region. For the regional authorities it makes sense to operate more flexibly with this tool, especially in periods of economic recession when inflow of corporate income tax to budget tends to decrease

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 ...

NIGERIA’S ECONOMIC GROWTH THROUGH TOURISM PROMOTION/SUSTAINABILITY

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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.

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.)

Memory, forgetting, and economic crisis: drug use and social fragmentation in an Argentine shantytown.

Science.gov (United States)

Epele, Maria E

2010-03-01

Closely linked to the increase in psychotropic pill consumption, forgetting and remembering emerged from devastated social scenarios as a new local idiom among poor youth in the late 1990s and the new millennium. Drawing on ethnographic fieldwork carried out during the years of the deepest economic crisis in Argentina (2001-03), I argue that psychotropic pill consumption is associated with not only deteriorating economic conditions but also changes in the quality and price of cocaine, and in the scarcity and subsequent change of status of medications during the economic breakdown. Taking into account developments in the field of memory studies, I examine the relationship among political economy, social memory work, and changing drug-use practices. Regarding memory as a social practice, I argue that the growth of psychotropic pill consumption in the late 1990s can be understood through the interplay of Paul Ricoeur's notions regarding different kinds and levels of forgetting. By analyzing changing survival strategies, social network dismantlement, changing mortality patterns, and abusive police repression, I discuss how social fragmentation engendered by structural reforms has modified social memory work.

Does the Budget Expenditure Composition Matter for Long-Run Economic Growth in a Resource Rich Country? Evidence from Azerbaijan

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Khatai Aliyev

2016-06-01

Full Text Available This study investigates the role of budget expenditure composition over Azerbaijan’s non-oil economic growth in the long-run by classifying public spending as capital, social and other expenditures. Authors’ employ ARDLBT approach to co-integration for the period of 2000Q1-2014Q4 to estimate long-run contribution of each spending category before-and-after the oil boom while controlling for oilrelated factors. Empirical results endorse the validity of long-run association among variables. Results concluded insignificant negative impact of capital expenditures, and significant negative impact of other expenditures. However, social spending has statistically and economically strong positive impact over the non-oil output growth. Therefore, research findings confirm that public expenditure composition significantly matters for long-run non-oil economic growth, and social expenditures have the greater positive impact in a resource-rich economy, Azerbaijan. Research results are highly useful for the government officials to consider while planning the expenditures in order to minimize negative response of non-oil sector to the fiscal contraction.

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.

Trade Liberalisation and Economic Growth in Macedonia

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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.

Economic planning and social justice in developing countries

Energy Technology Data Exchange (ETDEWEB)

Mehmet, O

1978-01-01

This book argues that development in LDCs (Less Developed Countries) cannot proceed in a sequential path - with income growth first and distribution after. Instead, egalitarian development, based on a combination of efficiency and equity criteria in the planning process, would emphasize employment creation, human resources, and rural and agricultural development, rather than urban-based industrial growth relying on imported capital-intensive technology. This, complemented with reforms in the political system, would be more in accord with the social needs and realities of LDCs. In particular, decentralized economic planning, responsive to the needs of rural communities, would offer an effective nonviolent revolutionary alternative. It is argued that egalitarian development is not only dependent on domestic reforms in LDCs, but also on a restructuring of international trade, aid and monetary systems for a more-equitable global distribution of income and wealth between nations. The book is divided into three parts: (1) devoted to a critical review of postwar growth and planning strategies; (2) based upon five case studies of Malaysia, Liberia, Pakistan, Brazil and Uganda, examines the influence of elites on economic planning and policy; and (3) offers elements of an egalitarian development planning. The book concludes with a brief summary on egalitarian planning as a non-violent revolution.

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...

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.

The innovative strategy of social and economic development of mining region

Directory of Open Access Journals (Sweden)

Bereznev Sergey

2017-01-01

Full Text Available Depressed state of Russian economy in recent years, the unstable functioning of most regional social and economic systems in the conditions of increased uncertainty of the global economy makes strategizing of the development based on a new model of economic growth a highly important issue. It assumes the tasks of modernization and restructuring of the economy, as well as improving the quality of management. It is known that the solution of these conceptual target problems was suggested by the concept 2020, but the global crisis of 2007-2009 and other geopolitical factors in the post-crisis period pushed their implementation back. The results of 2016 show an adaptation of Russian economy to the difficult internal and external challenges. In this article, the authors analyze the strategizing process by the example of the “Strategy of social and economic development of the Kemerovo Region up to 2025”, as well as analysis comparatively the strategies for the development of the national economy, the Siberian Federal District and the region. Based on the study results the authors formulated and substantiated conclusions and recommendations to improve strategizing process and the effectiveness of strategic management of the development of social and economic systems.

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.

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....

Social Capital, Tourism and Socio-Economic Transformation of Rural Society: Evidence from Nepal

OpenAIRE

Shakya, Martina

2014-01-01

Tourism has a wide range of impacts on the economy, the natural environment and the people living in a destination. In the context of poor, rural societies, many scholars have emphasized the positive impacts of tourism on local economic growth. Concern has been voiced, however, about the social and cultural impacts of tourism due to observed changes in local norms, values and behaviour. This paper proposes the concept of social capital to analyze the social and cultural effects of tourism in ...

Health and economic growth among the states of Brazil from 1991 to 2000

Directory of Open Access Journals (Sweden)

Kenya Noronha

2010-12-01

Full Text Available Health status can affect economic growth through at least three mechanisms: 1 directly, through the relationship between health status and individual earnings, 2 indirectly, through the effect of health on levels of education, and 3 through physical capital investments. Poor health status causes considerable losses in individual income by decreasing labor productivity, numbers of hours worked, and participation in the labor force. These losses can affect a population's level of wealth and contribute to decreased social well-being. The main goal of this study is to assess the relationship between health and economic growth among the Brazilian states between 1991 and 2000. In order to take into account the different epidemiological and morbidity profiles observed among the states, several health measures were selected such as infant mortality rate, hospital mortality rate in the public healthcare system due to perinatal complications, and proportion of deaths from selected causes (vascular diseases, diabetes, cancer, AIDS and other communicable diseases, homicides and ill-defined causes. Our main findings show that in Brazil health correlates positively with economic growth. We also found that decreases in infant mortality rates are closely associated with higher rates of economic growth. We found a significant negative relationship for health indicators that are related to poverty, less access to health care services and deaths from avoidable causes, such as communicable diseases and hospital mortality rates due to perinatal complications. In contrast, we found a positive and significant correlation between the proportion of deaths from diabetes and cancer, on the one hand, and economic growth, on the other.

SOCIAL-ECONOMICAL AND AGRO-ECOLOGICAL ISSUES OF RURAL POVERTY

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ANDRIY POPOVYCH

2017-11-01

Full Text Available The article presents the results of the study on the causes and consequences of rural poverty in connection with the main influencing factors. The paper suggests a conceptual framework for the investigation of complex relationship among economic growth, environmental degradation, climate change and rural poverty. The study highlights theoretical and empirical approaches to examination of potential relations among the well-being of rural population, the social-economic development of the agrarian sector of the economy and the state of ecology of countryside. The author introduces the practical instruments of filling the gap in current knowledge on links among economy, ecosystems, climate, and poverty, which provides implications for policy application and further research.

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.

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.

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.

The Bidirectional Causality between Country-Level Governance, Economic Growth and Sustainable Development: A Cross-Country Data Analysis

Directory of Open Access Journals (Sweden)

Cristina Boţa-Avram

2018-02-01

Full Text Available In the context of contemporary society, characterized by the information users’ growing and differentiated needs, the way country-level governance and social responsibility contribute to the ensuring of sustainable economic development is a concern for all the actors of the economic sphere. The aim of this paper is to test the causal linkages between the quality of country-level governance, economic growth and a well-known indicator of economic sustainable development, for a large panel of world-wide countries for a period of 10 years (2006–2015. While there are some prior studies that have argued the bidirectional causality between good public governance and economic development, this study intends to provide a new focus on the relationship between country-level governance and economic growth, on one hand, and between country-level governance and adjusted net savings, as a selected indicator of economic sustainable development, on the other hand. Four hypotheses on the causal relationship between good governance, economic growth and sustainable development were tested by using Granger non-causality tests. Our findings resulting from Granger non-causality tests provide reasonable evidence of Granger causality from country-level governance to economic growth, but from economic growth to country-level governance, the causality is not confirmed. In what regards the relationship between country-level governance and adjusted net savings, the bidirectional Granger causality is not confirmed. The main implication of our study is that improving economic growth and sustainable development is a very challenging issue, and the impact of macro-level factors such as country-level governance should not be neglected.

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.

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.

Social Planning and Economic Coercion

OpenAIRE

Hintermann, Beat; Rutherford, Thomas F.

2014-01-01

We develop a theory of social planning with a concern for economic coercion, which we define as the difference between consumers’ actual utility, and the "counterfactual" utility they expect to obtain if they were able to set policy themselves. Reasons to limit economic coercion include protecting minorities, preventing disenfranchised groups from engaging in socially costly behavior, or political economy considerations. As long as consumers are fully rational, limiting coercion is equivale...

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.

The Elgar companion to social economics : Second edition

NARCIS (Netherlands)

Davis, John B.; Dolfsma, Wilfred

2015-01-01

Social economics is a dynamic and growing field that emphasizes the key roles social values play in the economy and economic life. This second edition of the Elgar Companion to Social Economics revises all chapters from the first edition, and adds important new chapters to reflect the expansion and

36 CFR 219.19 - Ecological, social, and economic sustainability.

Science.gov (United States)

2010-07-01

... economic sustainability. 219.19 Section 219.19 Parks, Forests, and Public Property FOREST SERVICE..., Social, and Economic Sustainability § 219.19 Ecological, social, and economic sustainability. Sustainability, composed of interdependent ecological, social, and economic elements, embodies the Multiple-Use...

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.

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...

Ethics and Economics, Family & Firm Social philosophy and practical perspectives

OpenAIRE

Rosalia Azzaro Pulvirenti

2013-01-01

“Corporate Family Responsibility” means that Households and Stakeholders can help each other, supported by institutions, to increase their growth. Our aim is to explain the main result of it: a higher level of social benefits can be effective for achieving economic goals. The first part of the paper illustrates the status of the art and some theories on business ethics; the final part some practical perspectives about it in Italy.

About Problems of Decision Making in Social and Economic Systems

OpenAIRE

Voloshyn, Oleksiy

2006-01-01

The reasons of a restricted applicability of the models of decision making in social and economic systems. 3 basic principles of growth of their adequacy are proposed: "localization" of solutions, direct account of influencing of the individual on process of decision making ("subjectivity of objectivity") and reduction of influencing of the individual psychosomatic characteristics of the subject (" objectivity of subjectivity ") are offered. The principles are illustrated on mathe...

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...

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...

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)...

Social and economic impacts of climate.

Science.gov (United States)

Carleton, Tamma A; Hsiang, Solomon M

2016-09-09

For centuries, thinkers have considered whether and how climatic conditions-such as temperature, rainfall, and violent storms-influence the nature of societies and the performance of economies. A multidisciplinary renaissance of quantitative empirical research is illuminating important linkages in the coupled climate-human system. We highlight key methodological innovations and results describing effects of climate on health, economics, conflict, migration, and demographics. Because of persistent "adaptation gaps," current climate conditions continue to play a substantial role in shaping modern society, and future climate changes will likely have additional impact. For example, we compute that temperature depresses current U.S. maize yields by ~48%, warming since 1980 elevated conflict risk in Africa by ~11%, and future warming may slow global economic growth rates by ~0.28 percentage points per year. In general, we estimate that the economic and social burden of current climates tends to be comparable in magnitude to the additional projected impact caused by future anthropogenic climate changes. Overall, findings from this literature point to climate as an important influence on the historical evolution of the global economy, they should inform how we respond to modern climatic conditions, and they can guide how we predict the consequences of future climate changes. Copyright © 2016, American Association for the Advancement of Science.

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.

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

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....

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.

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

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.

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.

ENTREPRENEURSHIP AND ECONOMIC GROWTH: RE ACTUALIZATION OF THE ROLE OF ENTREPRENEURSHIP IN GLOBAL ECONOMY

OpenAIRE

Kružić, Dejan

2007-01-01

Abstract The paper investigates the process of re actualization of the role of entrepreneurship in global economy. Under the influence of global economy changes, the position of the entrepreneurship has been drastically altered –the entrepreneurship is increasingly seen as a generator of the economic growth. The exhaustion of most of the types of the economic and social protection, which were ensured in the economies of prosperity countries, indicates the fact that the era of looking for n...

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

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.

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.

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....

Trends and Perspectives of Social and Economic Development of the Perm region

Directory of Open Access Journals (Sweden)

Taliya Kh. Usmanova

2017-01-01

Full Text Available Purpose: the main purpose of the article is study the current prerequisites and trends of the economic development of the Perm Region to formulate proposals and recommendations within the framework of the program for the long-term development of regional social and economic systems. The main hypothesis of the article is that the social and economic development of the Perm Region requires the creation of innovative ways to develop promising areas of business based on relevant trends and assumptions.Methods: the methodology of solving the tasks is based on the use of the method of dialectical research, methods of economic analysis, forecasting, situational and system analysis, expert assessments and analysis of empirical data.Results: the results of the work are to study the economic processes in the region, including indicators and indicators of the region's social and economic development, and further develop recommendations and proposals for the development of priority areas in project management and selection of optimal project planning models to ensure sustainable development of the region and its competitiveness.Conclusions and Relevance: priority goals for solving the current economic problems of the Perm Region are to increase the income of the population and increase the revenue of the regional budget. To increase the pace and ensure the stability of economic growth, increase the real income of citizens, achieve technological leadership, a consistent solution to a number of specific tasks is necessary. It is important that the implementation of economic policy should be based on building partnerships between public authorities and entrepreneurship, aimed at increasing the efficiency of companies and the development of the economy of the region.

Debates of the Vista 2010 Colloquium 'The right price of energy, from economic competitiveness to social justice'

International Nuclear Information System (INIS)

Cailletaud, Marie-Claire; Doutreligne, Patrick; Ducre, Henri; Lederer, Pierre; Abadie, Pierre-Marie; Bergougnoux, Jean; Geoffron, Patrice; Heuze, Gregoire; Lorenzi, Jean-Herve

2012-12-01

The interveners discuss the issue of the right price of energy, right price being understood as an issue of social justice as well as an issue of economic optimality and of industrial and investment growth. They notably outline and comment the necessity of a stronger European coherence, the importance of the economic, environmental and job issues, the necessity of social cohesion (accessibility to energy for all at an affordable price), and of the emergence of a low carbon economy

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.

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.

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.

An Empirical Study on Rural Economic Growth in Hubei Province Based on New C-D Production Function

Institute of Scientific and Technical Information of China (English)

Yi; WEN; Minghong; CAO

2016-01-01

Human capital is becoming a major driving force of promoting economic growth and social development. Hubei Province as a large agricultural province is significantly affected by the human capital. The paper selects the correlation data about rural economic growth in Hubei Province as samples to analyze the contribution of physical capital and human capital to rural economic growth by the new C-D function and SPSS22. 0. The results show that the effect of the elasticity of human capital is greater than that of physical capital in rural economic development; the high quality rural human capital storage and the average years of schooling of rural labor force will increase the net income of rural household. Therefore,we should not only increase input of physical capital but also increase the input of human capital to raise the level of human capital in rural areas and promote sustainable development of rural economy.

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.

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.

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.

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.

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...

DECREASING SCHOOL DROPOUT RATE AS A FACTOR OF ECONOMIC GROWTH AND SOCIAL EMPOWERMENT. THEORETICAL INSIGHTS

Directory of Open Access Journals (Sweden)

Alina Badulescu

2016-07-01

Full Text Available Economic development and social empowerment in Romania are unconcievable in the absence of a modern education system, which needs both economic and financial investments and social, political, cultural measures to increase the inclusion of young people in school system. In this particular context, given that Romania faces a high degree rate of school dropout, and moreover there are few chances that Romania reach its goals, we try in this paper to look inside the real situation. Indeed, school dropout present serious negative consequences both on individual level and for the whole society. Recognising this fact, next step is to investigate and reveal the determining factors for this situation, and we are particularly interested in the economic and systemic factors. Consequently, we present in this paper first a brief literature review on the fenomenon of school dropping out, including reviewing main studies related to factors, effects, causes etc. In the second part, starting from several statistical data provided by INS, EUROSTAT and UNICEF studies, we propose some theoretical models and policy reccomendations in order to decrease the school dropout rate and especially the early school dropout rate.

TRENDS IN TAX DEVELOPMENT - EFFICIENCY AND ECONOMIC GROWTH

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Tanya Todorova

2017-12-01

Full Text Available The discussion on the role of the state and the amount of public revenue to maintain a balance between economic stability and social justice lasts for decades. The need for active state participation in the economy and the use of public revenue as a fiscal instrument is tangible. Delayed economic growth rates on global, regional and national level are a challenge to budget stability. In this article, the object of research is taxation, the subject - the trends and challenges to its effectiveness. The aim is to clarify whether there is a clear strategy on the marginal and implicit tax rate on the income of the population by comparing Bulgaria and other newly admitted countries in the EU (Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Slovakia, Slovenia and Romania. The main task is to justify the need to build a long-term strategy to increase the efficiency of labor taxation in order to achieve optimal distribution and redistribution of income.

Social Capital and Economic Development: A Neighborhood Perspective

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Matthew J. Hanka

2017-12-01

Full Text Available Sean Safford’s 2009 book Why the Garden Club Couldn’t Save Youngstown introduces a revolutionary idea that much of a community’s economic resilience is tied to the social capital that exists within it. Recent research suggests that social capital not only benefits those who develop it, but it can serve as a source of economic development in the communities in which it arises. Past quantitative research on the economic benefit of social capital has only examined the city or higher levels of aggregation. This study measures social capital in three diverse socioeconomic neighborhoods to better understand how social capital can serve as a tool for economic development. An ordered probit regression model was developed to examine how individual and neighborhood levels of social capital benefit households within these communities. Moreover, this study addresses how differences in social capital across neighborhoods are explained by both individual and neighborhood characteristics.

Macroeconomic Determinants of Economic Growth: A Review of International Literature

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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.

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...

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.

Inferring personal economic status from social network location

Science.gov (United States)

Luo, Shaojun; Morone, Flaviano; Sarraute, Carlos; Travizano, Matías; Makse, Hernán A.

2017-05-01

It is commonly believed that patterns of social ties affect individuals' economic status. Here we translate this concept into an operational definition at the network level, which allows us to infer the economic well-being of individuals through a measure of their location and influence in the social network. We analyse two large-scale sources: telecommunications and financial data of a whole country's population. Our results show that an individual's location, measured as the optimal collective influence to the structural integrity of the social network, is highly correlated with personal economic status. The observed social network patterns of influence mimic the patterns of economic inequality. For pragmatic use and validation, we carry out a marketing campaign that shows a threefold increase in response rate by targeting individuals identified by our social network metrics as compared to random targeting. Our strategy can also be useful in maximizing the effects of large-scale economic stimulus policies.

Business regulation and economic growth in the Western Balkan countries

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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.

The Impact of Regional Disparities on Economic Growth

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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

Changes in taxation and their impact on economic growth in the European Union

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Irena Szarowská

2011-01-01

Full Text Available The aim of the paper is to analyze changes in taxation and their impact on economic growth in the European Union. The analysis is performed on adjusted annual panel data of 24 European Union countries in a period 1995–2008. Panel regression with fixed effects is used as a basic method of research. The panel regression is based on analysis the effect of total tax quota changes on GDP growth in model 1, of changes in its components (social contribution, direct and indirect tax quotas in model 2 and of personal and corporate income tax quota changes in model 3. Results of empirical tests verify statistically significant negative effect of tax burden on GDP growth. Total tax quota increased by 1% decreases the GDP growth rate by 0.29% in the same year. Estimations confirm a statistically significant negative effect of direct taxes on GDP growth as well. A cut in the direct tax quota by 1% raises the GDP growth rate by 0.43%. The model also presents a high negative impact of an increase in the corporate income tax quota on GDP growth (a value of the regression coefficient is minus 1.28%. The effect of social contribution quota on GDP growth is not statistically significant in any estimation.

Poverty and Economic Growth in Swaziland: An Empirical Investigation

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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.

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

A preliminary social and economic assessment of the Basalt Waste Isolation Project

International Nuclear Information System (INIS)

Cluett, C.; Bolton, P.; York, K.; Wood, M.; Radford, L.

1981-07-01

This report provides a preliminary assessment of the social and economic impacts that could be caused by the construction and operation of a nuclear waste repository on the Hanford Site near Richland, Washington. This assessment involved assembling a comprehensive data base for the local Tri-Cities impact area and the surrounding region, establishing a network of local and regional contacts, making preliminary judgments about potential social impacts caused by the proposed repository, and recommending further research. This report concludes that growth effects under the anticipated work force scenario are expected to be relatively minor. With a strong public involvement program on the part of the project developers, including an ongoing dialogue with local and regional planners, potential socio-economic impacts can be anticipated and managed effectively. Specific recommendations are made for filling gaps in the available data, exploring key issues in more detail, and improving the analysis of social impacts. The report was prepared by the Battelle-Human Affairs Research Center in 1980 and 1981

Local Decentralisation and Economic Growth in Nigeria

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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.

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...

Financial Intermediaries and Economic Growth: The Nigerian Evidence

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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.

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...

GENDER FACTORS OF SOCIAL AND ECONOMIC DEVELOPMENT OF A COUNTRY

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N. Kochkina

2016-06-01

Full Text Available The article discusses the impact of gender asymmetry on the socio-economic development of the country. Authors detected factors that determine with high level of the probability social development of the society. Econometric relationship between the level of GDP per capita in comparative prices and the socio-cultural and gender factors are developed and estimated. The analysis showed that the level of individualism, indulgence, economic participation, and political empowerment of women in the society have direct linear correlation with GDP per capita. Power distance has opposite inverse correlation with the level of GDP. Application of regression analysis gave the possibility to divide all countries into 9 clusters with similar features. Two-dimensional matrix included GDP per capita and coefficient of implementation of a country gender and sociocultural potential. The recommendations for stimulating economic growth by smoothing gender gaps are proposed.

Exploring economic structure and drivers of economic growth in Botswana

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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.

Mechanisms Fostering Social Entrepreneurship as Potential Instruments for Economic Development: The Eastern Partnership Perspective

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Plotnieks Dāvis

2014-10-01

Full Text Available With its plan to assign 600 million euros through the European Neighbourhood Instrument for Eastern Partnership countries, the European Union intended to increase the efficiency of institutions, attenuate social problems, and create an environment that fosters economic growth and human well-being in Armenia, Azerbaijan, Belarus, Georgia, Moldova, and Ukraine. A few scholars have criticized the amount of funding and planned initiatives of the European Neighbourhood Instrument as insufficient and suggested that in order to foster cooperation and support reforms in its Eastern Partnership countries, more action should be taken. In times when European Commission budget is under constraints of consolidation and increase of aid for supporting European Neighbourhood countries is hardly possible, alternative solutions for tempering social problems need to be assessed. Various scientists, philanthropists and entrepreneurs see social entrepreneurship as a tool for solving social problems in a sustainable way where business thinking is being combined with non-profit philosophy. Contrary to government support and intervention for solving social problems, social entrepreneurship is already being used as tool that initially addresses joint needs--solve social problems and create revenue that provides much needed income for sustainable business initiatives. This paper analyzes the concept of social entrepreneurship, examples where social entrepreneurship is solving social problems, and mechanisms that can foster these phenomena. The aim of this paper is to examine different mechanisms of how governments can foster the creation and development of social entrepreneurship. Unique survey data derived from a project examining social entrepreneurship in Europe is used. It is concluded that by adopting mechanisms proven in various developed countries, the Eastern Partnership countries can stimulate social entrepreneurship, thus attenuating social problems and

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.

EUROPEAN SOCIAL MODEL.COMPETITIVE ADVANTAGE OR ECONOMIC HANDICAP

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Iovitu Mariana

2010-07-01

Full Text Available “Corporative social responsibility” (CSR represents equally a very actual debate, but also an appraisal criteria of the dynamic of eco-social integration quality process at European level. Especially that the protection need is demanded by the current economic crisis. This concept is meant to combine the position, attitude and behaviour of the trade-unions with the interests of employer’s organisations in search of possible influential mechanisms of the competitive advantage at European level. Due to the current economic crisis, the implications on the labour force market are causing an explainable anxiety. The attention of the decision takers is oriented towards joining the objectives “social well being with economic well being” in view of an expected economic come back. This approach proves a significant change at the level of economic and social policies within the European Union.

INTERCONNECTIONS BETWEEN THE ECONOMIC STRUCTURE OF LOCAL SPENDING AND ECONOMIC GROWTH IN ROMANIA

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Bilan Irina

2015-07-01

Full Text Available The issue of the effects of government interventions, explicitly of the taxes and expenditures of local public authorities, has generated substantial debate over time, and still gives rise to numerous controversies in theory and practice. Following the Keynesian path of reasoning, it is, at least theoretically, admitted that it is possible to influence the socio-economic activities and support for economic growth by means of government spending, but different other factors act towards enhancing or, on the contrary, impeding the achievement of the desired effects. From this point of view, the delimitation of competences and public expenditure responsibilities between different levels of government raises the issue of some possible different effects of the central and local governments’ interventions. As the macroeconomic stabilization function is usually associated with central governments, and the contribution of local governments often is of lesser importance, less attention is paid to the effectiveness of local administrative actions. In such a context, the paper aims to empirically evaluate the effects of the economic structure of local public expenditures on the local (territorial economic growth in Romania, over the period 2007 to 2012. The analysis has been conducted at the level of the 42 Romanian counties and on annual data collected from both international and national sources (World Bank, INSSE, The Romanian Ministry of Regional Development and Public Administration.The general method of estimation is the fixed effects estimation technique for panel data models. Our empirical approach is of absolute novelty, especially for Romania, where previous empirical studies have been focusing on the assessment of the overall effects of general government spending. The main findings of our study are that local public expenditures have a negative impact on territorial economic growth, confirmed both for overall expenditures and for various

BANKING SECTOR DEVELOPMENT AND ECONOMIC GROWTH INPALESTINE; 1995-2014

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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.

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.

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.

ENVIRONMENTAL ASPECTS OF "GREEN ECONOMY" RUSSIA'S ECONOMIC GROWTH

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R. N. Botavina

2016-01-01

Full Text Available The article tells the story of the emergence of "green" economy, as opposed to the traditional "brown" ekonomike, given its concept shown shortcomings of the existing definitions of "green" economy, conclusions about the real possibilities of the transition to the growth of "green" economy. The relevance of this work lies in the fact that the changing paradigm of understanding the basis and essence of sustainable development of the national socio-economic systems necessitates the integration of economic and environmental solutions, this integration is seen as part of the concept of "green economy".The approach of this article is based on an interdisciplinary concept of quality management in relation to the specifics of functioning and development of the domestic socio-economic systems.The purpose / goal. The purpose of this article, and its main task is to systematize the areas of environmentally oriented development of economic entities, as well as the determination of the list of key provisions of environmental policy, which will provide further socio-economic development of Russia in line with the green economy. As a result, Russia as one of the great powers of the world will find a stable geopolitical situation.Methodology. The methodological basis of this article are comparative, economic and statistical analysis methods.Results. This article suggests some solutions to be included in the national environmental policy as a major incentive for the further transition to a green economy.Conclusions: The material contained in this article show the special role of the concept of "green economy" in the social and economic processes in the development of Russia's geo-economic stability. The above article aspects of the further development of the green economy in Russia can complement scientific and practical base solutions that provide active creation, implementation and use of green technologies to provide environmentally responsible sustainable

PLATFORM ECONOMIC GROWTH QUALITY OF LIFE QUALITY OF THE POPULATION (ON THE EXAMPLE OF REGIONS OF THE CENTRAL CHERNOZEM REGION

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S. A. Volkovа

2015-01-01

Full Text Available Summary. In the real research economic prerequisites of ensuring growth of quality of life of the population of the Central Chernozem region are considered. In our opinion, economic base determines the potential of development of the concrete territorial subject of the Russian Federation and ensuring growth of quality of life. It is established that economic prerequisites are characterized by complexity and versatility of influence. Treat priority indicators of economic development of the region: VRP per capita, structure of economy, investment activity and economic efficiency. The majority of the presented economic indicators had positive dynamics in the studied region, but, at the same time it is established that the steadiest trend of economic development is characteristic for the Belgorod and Lipetsk areas. A difficult situation with economic ensuring growth of quality of life of the population in the Oryol and Tambov areas. Low level of the majority of indicators of economic efficiency of development in these regions is considered the disturbing fact: the labor productivity index, a share of high-tech and knowledge-intensive industries of economy, number of high-performance workplaces decreases. The carried-out analysis allowed to reveal not only a number of problems in areas of the Central Chernozem region, but also to define possibilities of ensuring growth of economic indicators for ensuring improvement of quality of life of the population. Treat their number: the available consumer potential of areas, high level of expenses of budgets of subjects of TsChR on welfare actions, in particular, actively grow expenses of regional budgets on realization of social policy. Also it should be noted growth of investments into fixed capital. In the region it is important to develop for improvement of an economic situation at the level of regional administration actions and the social programs aimed at ensuring quality of life of the population of TsChR.

THE IMPACT OF PUBLIC DEBT ON ECONOMIC GROWTH WITHIN EU

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Meral (IBRAIM KAGITCI

2014-06-01

Full Text Available The main idea of this paper consists in offering a general view regarding a comparative analysis between different EU countries on public debt and economic growth. In the meantime, this is the evidence that the annual shift of the public dues ratio and the budget deficit to GDP ratio are seen in a bad way and linearly associated with per-capita GDP increase. The conduits term through government`s obligation (level or change is expected to have a big impact over the economical increased rate as: i secret saving; ii social investments; iii all the productivity factors; iv unlimited long-term nominal and real interest rate. From a political point of view, the results will bring basically arguments for dues reduction to support long-term increase prospect.

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...

SOCIAL CAPITAL AS THE BASIS FOR THE FORMATION OF SOCIO-ECONOMIC SECURITY IN RURAL AREAS

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Andrii Sukhostavets

2017-09-01

, material and technical base, natural conditions, etc. A market-oriented regional economy does not always ensure the growth of the well-being of all segments of the population in conditions of social and economic stability. Inevitably generated unemployment, social problems and other consequences of the competition can cause social fallout. Social threats are closely related to each other, while one generates another, forming a vicious circle. But at the same time, the socio-economic security of the society should be considered as the primary one. On the basis of the foregoing, we believe that the social capital of rural areas provides the basic social norms of citizens, which results in the provision of rights to communicate, found organizations, unions, cooperatives; and its high level leads directly to the increase in the socio-economic security of rural areas. Directions of our further research will be focused on the development of proposals concerning state support for activities related to the formation of social capital.

Corporate sustainability: environmental, social, economic and corporate performance

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Alena Kocmanová

2011-01-01

Full Text Available The article deals with corporate sustainability and environmental and social issues of the integration of corporate performance measurement that may lead to sustainable economic success. Sustainability is a strategy of the process of sustainable development. Sustainability of businesses and sustainable performance can be defined as an integration of environmental, social and economic performance. First and foremost, businesses will want to know what indicators can be used to measure environmental, social and economic performance. What is the mutual relationship between environmental, social and economic performance? How can firms arrive at a comprehensive assessment of their performance in relation to sustainability? The aim of this paper is to analyze corporate environmental, social and economic performance and to analyze their mutual relationships. The final part of the article is an assessment of the contemporary situation and draft Key Performance Indicators (KPI for assessment of corporate sustainability that will be the subject of further research in a selected NACE-CZ sector and in accordance with Corporate Sustainability Reporting. KPI provide businesses with a means of measuring progress toward achieving objectives.

Stock Market and Sustainable Economic Growth in Nigeria

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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.

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

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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.

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

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

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 ...

Green economic growth premise for sustainable development

Directory of Open Access Journals (Sweden)

Carmen Lenuţa TRICĂ

2013-01-01

Full Text Available Accelerating the global issues such as natural resource depletion, damage to the natural environment, economic and financial crises and consumption growth led to the shift of the development paradigm from consumption to sustainable development and recognition of the new path, namely green economy.At the European level a number of international organizations discussed issues of transition to green economy (EC, UNEP, OECD. In 2008, UNEP launched “Green Economy Initiative to Get the Global Markets Back to Work”, aiming to mobilize and re-focuse the global economy towards.This is the twin challenge of moving towards a green economy: radically reducing the footprint of developed countries, while simultaneously raising levels of social and material well being in developing countries.Without public intervention, the related market failures (i.e. market prices that do not fully reflect the environmental degradation generated by economic activity may delay or even prevent the development of environmentally-friendly technologies.Furthermore, in sectors such as electricity, network effects arising from existing infrastructures create additional barriers to the adoption of alternative sources of power, further hampering incentives to invest in new technologies.Given that the transition to a green economy requires increasing of investment in economic sectors that contribute to enhancing of natural capital and reduce environmental risks, we intend to analyze the main measures taken by Romania to ensure transition to green economy.

The Institutional System of Economic Agents’ Social Responsibility

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Frolova Elena, A.

2015-12-01

Full Text Available In this paper it was made an attempt to analyse the main characteristics of the institutional system of economic agents social responsibility. The institutional system can be described as a complex of norms, rules, regulations and enforcement mechanisms in the context of interactions and communications of economic agents. The institutional nature of social responsibility allow to solve social dilemmas through the internalization of social responsibility norms and creating social value orientations, which are determine the prosocial behaviour of economic agents. The institutional system of social responsibility was described from the methodological institutionalism point of view. Analysing this phenomenon we are required to develop research on the objects of this system (norms, regulations, behaviour, on the subjects of this system (persons, business, government and on the institutional mechanisms (internalization of social responsibility norms, promoting prosocial behaviour, adaptation and transformation of the social responsibility norms aimed to ensure the understanding of origin and significance of social responsibility for modern society.

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

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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.

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

Economic Analysis of Social Common Capital

Science.gov (United States)

Uzawa, Hirofumi

2005-06-01

Social common capital provides members of society with those services and institutional arrangements that are crucial in maintaining human and cultural life. The term æsocial common capital' is comprised of three categories: natural capital, social infrastructure, and institutional capital. Natural capital consists of all natural environment and natural resources including the earth's atmosphere. Social infrastructure consists of roads, bridges, public transportation systems, electricity, and other public utilities. Institutional capital includes hospitals, educational institutions, judicial and police systems, public administrative services, financial and monetary institutions, and cultural capital. This book attempts to modify and extend the theoretical premises of orthodox economic theory to make them broad enough to analyze the economic implications of social common capital. It further aims to find the institutional arrangements and policy measures that will bring about the optimal state of affairs.

Transport Infrastructure and Economic Growth: Spatial Effects

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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

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...

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".

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.)

ECONOMIC AND SOCIAL IMPORTANCE OF TOURISM

OpenAIRE

Ștefan-Dragoș CÎRSTEA; Andreea CÎRSTEA

2015-01-01

Tourism is a sector with a significant share in the economies of many countries. There are nations whose GDP consists of 40% of the total contribution of tourism to this indicator. One such segment requires permanent research of its economic, social and sustainability dimensions and their importance. This study outlines an overview of the main aspects related to economic and social importance of tourism and how tourism relates to the concept of sustainable development. The total contribution ...

Creativity as an integral element of social capital and its role for economic performance

OpenAIRE

Westlund , Hans; Andersson, Martin; Karlsson, Charlie

2013-01-01

In this paper, we focus on the connections between creativity, social capital and economic performance and growth. Our working hypothesis is that both creativity and social capital influences the economy, both each per se, but also through their influence on each other. We regard creativity as one of the sources of entrepreneurship and innovation (although creativity also can have ‘bad’ consequences if bad actors such as criminals perform it). Depending on the types of networks and the norms ...

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.

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

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,...

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.

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,...

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.

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

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.

Energy, Economic Growth and Environmental Sustainability: Five Propositions

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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.

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 ...

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 ...

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....

SOCIAL BALANCE - SUMMARY DOCUMENT AND REPORTING ECONOMIC AND FINANCIAL

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NĂSTASIE MIHAELA – ANDREEA

2014-08-01

Full Text Available General research area of this article is the annual social reports that have as main objective the good information of users of both the internal and external users of accounting information reported. In economic, financial reports along with reports of social attract itself an end, equally profitable and moral, individual and social welfare bringing. Social Balance is an instrument of human resource management information, retrospective summary that aims to satisfy the social information of employees and highlight the social resources of the economic entity and use, in order to know the case where the entity is economic profit or loss realized.

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…

ANALYSIS OF RESOURCE AND NON-RESOURCE FACTORS’ INFLUENCE ON ECONOMIC GROWTH OF TOMSK REGION USING COGNITIVE APPROACH

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Belan A. K.

2015-03-01

Full Text Available This article introduces the key problems of social-economic development of Tomsk region and factors that influence economic growth in highly resource-dependent region. Authors prove the advisability of using cognitive approach for investigation and forecasting of social-economic system development in conditions of uncertainty. Also results of simulation are given medium-term forecast. They are interpreted by means of fuzzy cognitive map. Obtained results, on the one hand, confirm the theoretical considerations about the need of convergence between various factors in the regional development strategy. On the other hand, it’s revealed the need to build a normative model, showing what the regional economy should be. This will allow to conceive more clearly the direction of movement from the modern position to desired one and to determine required contours of the economic policy.

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

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.

Micronutrient deficiencies and gender: social and economic costs.

Science.gov (United States)

Darnton-Hill, Ian; Webb, Patrick; Harvey, Philip W J; Hunt, Joseph M; Dalmiya, Nita; Chopra, Mickey; Ball, Madeleine J; Bloem, Martin W; de Benoist, Bruno

2005-05-01

Vitamin and mineral deficiencies adversely affect a third of the world's people. Consequently, a series of global goals and a serious amount of donor and national resources have been directed at such micronutrient deficiencies. Drawing on the extensive experience of the authors in a variety of institutional settings, the article used a computer search of the published scientific literature of the topic, supplemented by reports and published and unpublished work from the various agencies. In examining the effect of sex on the economic and social costs of micronutrient deficiencies, the paper found that: (1) micronutrient deficiencies affect global health outcomes; (2) micronutrient deficiencies incur substantial economic costs; (3) health and nutrition outcomes are affected by sex; (4) micronutrient deficiencies are affected by sex, but this is often culturally specific; and finally, (5) the social and economic costs of micronutrient deficiencies, with particular reference to women and female adolescents and children, are likely to be considerable but are not well quantified. Given the potential impact on reducing infant and child mortality, reducing maternal mortality, and enhancing neuro-intellectual development and growth, the right of women and children to adequate food and nutrition should more explicitly reflect their special requirements in terms of micronutrients. The positive impact of alleviating micronutrient malnutrition on physical activity, education and productivity, and hence on national economies suggests that there is also an urgent need for increased effort to demonstrate the cost of these deficiencies, as well as the benefits of addressing them, especially compared with other health and nutrition interventions.

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.

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.

China's Economic Conditions

National Research Council Canada - National Science Library

Morrison, Wayne M

2008-01-01

.... The Chinese government has indicated that it intends, over time, to create a "harmonious society" that would promote more balanced economic growth and address a number of economic and social issues...

Judicial Enforcement of Economic, Social and Cultural Right

Directory of Open Access Journals (Sweden)

Aulona Haxhiraj

2013-07-01

In every society there is violation which implies its citizen not get proper social right, economical right and cultural right. Proper implementation and adoption of judicial enforcement can reduce this violation rate and established social peace. Step mentioned in the above might not perfect but it might be small starting and ensure social, culture & economical right for the people living in the society.

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

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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

Economic growth and military expenditure linkages: a panel data analysis

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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.

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.

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

Biogas technology in Cienfuegos: energy, environmental, economic and social impacts

International Nuclear Information System (INIS)

Costa Pérez, Inocente; Gutiérrez Benítez, Omar; Martínez Bermúdez, Guillermo; Padrón Padrón, Wilfredo; Águila Cabrera, Cira

2015-01-01

Promote the use of biogas is endorsed in the Guidelines 131 and 247 of the Economic and Social Policy of the Party and the Revolution element. The aim was to promote the construction and good practices in the use, operation and maintenance of biogas digesters in the province of Cienfuegos. The study of the design features of each type of digester, according to criteria of constructability, amount of manure, energy demand and geometry was performed. Un-practical theory for the design and construction of various types of biogas digesters compendium was prepared. Calculations for the conceptual and basic design fixed dome biogas digesters Circular Square and engineering were performed. The detailed engineering projects of different capacities biodigesters were developed. The results showed a progression of exponential growth in the number biodigesters for the past 4 years. This growth was accompanied by strong job training, technical advice and disclosure. Energy, environmental, economic and social impacts of the use of biogas in Cienfuegos were significant. At year end 2013, 80 biogas digesters in operation produced 429.1 m3 / day of biogas, which allowed replacing 78.3 t / year of fossil fuel equivalent disburse stop 43563.55 USD / year, stop pouring 3488.8 t / year of residual polluting the environment and stop emitting into the atmosphere 46.5 t / year of methane, equivalent to 1069.5 of carbon dioxide (CO 2 ) equivalent dioxide. (full text)

Tax Revenue and Economic Growth: A Study of Nigeria and Ghana

Directory of Open Access Journals (Sweden)

Francis Chinedu Egbunike

2018-03-01

Full Text Available Tax revenue is frequently considered as an alternative form of sustainable financing within a stable and predictable fiscal environment to promote growth and enable governments to finance their social and infrastructural needs. The objective of the study is to examine the effect of tax revenue on economic growth of Nigeria and Ghana. The study used multiple regressions as tools of analysis. The study finds a positive impact of tax revenue on the gross domestic product of Nigeria and Ghana confirming prior studies. The study recommended among others that adequate measure to ensure that revenue generated from the tax is effectively utilized to develop and grow the economy.DOI: 10.15408/sjie.v7i2.7341

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.

ECONOMIC AND SOCIAL IMPORTANCE OF TOURISM

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Ștefan-Dragoș CÎRSTEA

2015-11-01

Full Text Available Tourism is a sector with a significant share in the economies of many countries. There are nations whose GDP consists of 40% of the total contribution of tourism to this indicator. One such segment requires permanent research of its economic, social and sustainability dimensions and their importance. This study outlines an overview of the main aspects related to economic and social importance of tourism and how tourism relates to the concept of sustainable development. The total contribution and the direct contribution of tourism to GDP are elements studied within this research. It is also studied the direct contribution of tourism to employment, and the main positive and negative effects of tourism on social life.

Social interactions for economic value? A marketing perspective

NARCIS (Netherlands)

Vock, M.

2011-01-01

This dissertation explores emerging social interactions in relation to economic value, more specifically how social interactions at the organizational and individual levels may affect individual consumers and companies economically as well. To help shed light on this broad theme, it focuses on two

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.

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.

Assessment of the impact of the social reproduction process on economic development of the region (case study of the Sverdlovsk Oblast

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Denis Aleksandrovich Tatarkin

2014-09-01

Full Text Available When a human person is perceived not only as a key factor in social development, but also as its objective, there appears the understanding that the qualitative shifts in the reproductive process, most valuable for the society, occurs not in the material sphere, but in the sphere associated with the development of a person and satisfaction of his/her needs. This fundamental postulate helps to prioritize the goals of economic development. Economic growth without social reproduction defeats the purpose of economic development, as economic growth, which does not enhance the level and quality of life, contradicts its primary purpose. Financing of social reproduction of the population is not forced diversion of financial resources from the production process, but social investment that improves the quality of life and attracts skilled workforce to the region. The rise in salary of the economically active population has a positive effect on the formation of a profitable part of the budget, which is a prerequisite for its economic and social development on a more innovative base. It is of fundamental importance to identify the optimal ratio of financial resources allocated to social and production spheres. Social development in the Russian Federation is partly caused by the inability to assess financial implications of the increasing social sector. This occurs, in particular, due to the difficulty to measure socio-economic efficiency of investments. The impact on all sectors of production and social spheres is taken into account. The social sphere is embedded in the economic system of the country. Its development, like the development of any other manufacturing industry, directly affects the economy of the country and its regions. The methodology of the system of national accounts (SNA provides an opportunity for a comprehensive assessment of the impact of social budget expenditures on the regional economy. On the basis of SNA tools the financial

Economic principles motivating social attention in humans.

Science.gov (United States)

Hayden, Benjamin Y; Parikh, Purak C; Deaner, Robert O; Platt, Michael L

2007-07-22

We know little about the processes by which we evaluate the opportunity to look at another person. We propose that behavioural economics provides a powerful approach to understanding this basic aspect of social attention. We hypothesized that the decision process culminating in attention to another person follows the same economic principles that govern choices about rewards such as food, drinks and money. Specifically, such rewards are discounted as a function of time, are tradable for other rewards, and reinforce work. Behavioural and neurobiological evidence suggests that looking at other people can also be described as rewarding, but to what extent these economic principles apply to social orienting remains unknown. Here, we show that the opportunity to view pictures of the opposite sex is discounted by delay to viewing, substitutes for money and reinforces work. The reward value of photos of the opposite sex varied with physical attractiveness and was greater in men, suggesting differential utility of acquiring visual information about the opposite sex in men and women. Together, these results demonstrate that choosing whom to look at follows a general set of economic principles, implicating shared neural mechanisms in both social and non-social decision making.

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.

DETERMINATION OF SOCIAL ECONOMIC AND ENVIRONMENTAL SUCCESS OF PRODUCTS:

Directory of Open Access Journals (Sweden)

ESEN GÜRBÜZ

2013-06-01

Full Text Available An Empirical Investigation on the Turkish Food Industry Altough there are studies which evaulate and explain the importance of environmental, social and economic success of a product, it is important to evaluate the considerable success of these three variables together. This paper aims to evaluate economic, social and environmental success of a product all together (but not seperatly by conducting a research.  In this paper for some sample firms operating in the Turkish Food Industry, the variables, which effect the products’ economic, social and enviromental successes, are defined theoretically and the research results are explained investigating if there is a relationship between enviromental, social, economic success criteria and firm size, export, import use of intermediary.

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.

Social learning research in ecological economics

NARCIS (Netherlands)

Siebenhüner, Bernd; Rodela, Romina; Ecker, Franz

2016-01-01

Social learning studies emerged as part of the ecological economics research agenda rather recently. Questions of how human societies and organisations learn and transition on the basis of environmental knowledge relate to the core ideas of ecological economics with its pluralistic understanding

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...

SOCIAL LIMITS OF THE ROMANIAN ECONOMICAL GROWTH

Directory of Open Access Journals (Sweden)

Florea Adrian

2009-05-01

Full Text Available The phenomena and processes from the economical life have evolved with intensity and different results, determining the necessity of knowing the way in which the national economy evolves, as well as its dynamic approach. The existence and the dynamics of

Economic costs of social phobia: a population-based study.

NARCIS (Netherlands)

Acarturk, C.; Smit, H.F.E.; de Graaf, R.; van Straten, A.; ten Have, M.; Cuijpers, P.

2009-01-01

Background: Information about the economic costs of social phobia is scant. In this study, we examine the economic costs of social phobia and subthreshold social phobia. Methods: Data were derived from the Netherlands Mental Health Survey and Incidence Study (NEMESIS) which is a population-based

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.

Evaluation of Unacademic Behaviour and its Implications on Economic and Social Development

Directory of Open Access Journals (Sweden)

Tudorel ANDREI

2010-09-01

Full Text Available The estimation of corruption and its effects on the social and economic development of a country is a difficult task. A series of studies have estimated the effects of corruption on the economic development of a sector of activity. This article presents the results obtained at the level of a sample with regard to a series of aspects related to the measurement of corruption and the identification of its causes and of the role played by certain institutions in the growth or reduction of corruption. The statistical information was obtained by means of a statistical questionnaire intended for public administration employees. The data were processed in SPSS.

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...

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 ...

Strategy of Developing Tomini Bay for Economic Growth of Coastal Community in Central Sulawesi

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Muzakir Muzakir

2016-06-01

Full Text Available This research aims to analyze the potential and the strategy of developing Tomini Bay to improve the economic growth of the coastal community in Central Sulawesi. The research is located in four regencies in Central Sulawesi. The method uses the descriptive analysis using SWOT analysis. The research result shows that the potential of fisheries resources in Poso Regency, Parigi Moutong Regency, Tojo Una-Una Regency, and Banggai Regency can support the development of Tomini Bay region based on fisheries in order to accelerate the economic growth of coastal communities in Central Sulawesi. The potential fishery resources that can support the development of Tomini Bay area are the potential of fisheries, marine and coastal infrastructure, social economy and geographic conditions in four regencies. The strategies are building the marketing network for fishery products both the catching and cultivation, improving the fishery human resouce capacity, controlling the fishery product quality, and increasing the social awareness to maintain the ecosystem sustainability. To optimize the utilization of Tomini Bay, it is suggested to improve the involvement of the regional government, the central government, and also the private sector and the whole community.

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

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

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

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

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.

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...

Cultural Challenges of Social-Economic Innovation

DEFF Research Database (Denmark)

Bajde, Domen; Ottlewski, Lydia

2016-01-01

Purpose We introduce the concept of social-economic innovation (SEI) and point to cultural challenges involved in instituting SEI. In the second part of the paper, we delve into the alternative exchange system of “Housing for help” (HFH) to explore the challenging negotiation of roles and relations...... of the cultural processes and challenges involved in instituting unconventional social-economic systems. The paucity of existent research and the preliminary nature of our study call for further investigation. Practical implications The study informs individual and institutional efforts to negotiate...

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.

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...

What are the economic and social effects from the electric power beneficiary price of the largest consumers

International Nuclear Information System (INIS)

Bogov, Dimitar

2003-01-01

In the last few years the two largest consumers of electricity 'Feni' and 'Jugohrom', were sold to the foreign strategic investor. The key issue in the negotiations with the investor was the price of electricity for these companies. The final outcome is known, they got beneficiary price. Now two questions emerge: (1) what is the exact size of the under pricing? (2) what are the economic and social effects of their activity and whether the social gain for the country is higher than the loss for the country from the under pricing of electricity. The paper is trying to give an answer on the second question. Therewith, the analyze is focused on two issues: (1) how much is the contribution of these two companies on production, export and economic growth of the Republic of Macedonia; (2) what is their impact on the living standard and social costs. Macedonian industry has very unfavorable structure with only a few export products. Restructuring of industry and widening of the array of products is a slow process. Until new products and new industries are developed, the only generator of larger export and higher economic growth is the increase of the export of existing products. 'Feni industry' and 'Silmak' are some of rare Macedonian companies that have foreign strategic investor who provide stable and unlimited market (having in mind that Macedonian production is relatively small compared to the world demand for nickel and ferro silicium). Thus, the growth of export of metals produced by 'Feni industry' and 'Silmak' could be the principal generators of the growth of Macedonian economy in the period of restructuring of the industry and development of new competitive products. (Original)

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.

SOCIAL PROGRESS AND ECONOMIC PROJECTS FOR DISADVANTAGED GROUPS IN ROMANIA

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Aurelian Virgil BALUTA

2016-12-01

Full Text Available The paper aims to analyse the social progress, social politics, social law and successful projects applicable to the some disadvantaged groups: Roma people and woman. Inclusion of Roma people is analysed from economic point of view. The economic problems of equality by gender is presented in terms of labour rate and other relevant ratio. For Roma people the focus of analyse is also on labour involvement. The chapters of the communication are: introduction, literature review ( state of art in the field of social progress, theoretical background, tools for social progress in EU, economic inclusion of Roma population, economic equality by gender, conclusions.

CURRENT ACCOUNT DEFICIT AND ECONOMIC GROWTH IN ARMENIA

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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.

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.

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 ...

Trust, Social Capital and Economic Development

NARCIS (Netherlands)

Francois, P.; Zabojnik, J.

2003-01-01

Many argue that elements of a society s norms, culture or social capital are central to understanding its development.However, these notions have been difficult to capture in economic models.Here we argue that trustworthiness is the economically relevant component of a society s culture and hence

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

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.

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.

Economic Socialization, Saving and Assets in European Young Adults

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Webley, Paul; Nyhus, Ellen K.

2013-01-01

We analyze the role economic socialization plays in the economic behavior and asset accumulation of young adults by parents using data from European young adults and teenagers. We study the role of four distinct strands of economic socialization (providing pocket money, jobs at home, work for others, and parental encouragement) using a Dutch…

136 Tax Revenue, Stock Market and Economic Growth of Pakistan

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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.

Social and economic ideologies differentially predict prejudice across the political spectrum, but social issues are most divisive.

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Crawford, Jarret T; Brandt, Mark J; Inbar, Yoel; Chambers, John R; Motyl, Matt

2017-03-01

Liberals and conservatives both express prejudice toward ideologically dissimilar others (Brandt et al., 2014). Previous work on ideological prejudice did not take advantage of evidence showing that ideology is multidimensional, with social and economic ideologies representing related but separable belief systems. In 5 studies (total N = 4912), we test 3 competing hypotheses of a multidimensional account of ideological prejudice. The dimension-specific symmetry hypothesis predicts that social and economic ideologies differentially predict prejudice against targets who are perceived to vary on the social and economic political dimensions, respectively. The social primacy hypothesis predicts that such ideological worldview conflict is experienced more strongly along the social than economic dimension. The social-specific asymmetry hypothesis predicts that social conservatives will be more prejudiced than social liberals, with no specific hypotheses for the economic dimension. Using multiple target groups, multiple prejudice measures (e.g., global evaluations, behavior), and multiple social and economic ideology measures (self-placement, issue positions), we found relatively consistent support for the dimension-specific symmetry and social primacy hypotheses, and no support for the social-specific asymmetry hypothesis. These results suggest that worldview conflict and negative intergroup attitudes and behaviors are dimension-specific, but that the social dimension appears to inspire more political conflict than the economic dimension. (PsycINFO Database Record (c) 2017 APA, all rights reserved).

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

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Saida Daly