WorldWideScience

Sample records for hunger economic growth

  1. 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.

  2. 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

  3. Economic Growth, Economic Freedom, and Governance

    OpenAIRE

    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...

  4. Economic Growth, Capitalism and Unknown Economic Paradoxes

    Directory of Open Access Journals (Sweden)

    Andzela Mialik

    2012-10-01

    Full Text Available The paper deals with failures of capitalism or free market and presents the results of economic analysis by applying a logistic capital growth model. The application of a logistic growth model for analysis of economic bubbles reveals the fundamental causes of bubble formation—economic paradoxes related with phenomena of saturated markets: the paradox of growing returnability and the paradoxes of debt and leverage trap. These paradoxes occur exclusively in the saturated markets and cause the majority of economic problems of recent days including overproduction, economic bubbles and cyclic economic development. Unfortunately, these paradoxes have not been taken into account when dealing with the current failures of capitalism. The aim of the paper is to apply logistic capital growth models for the analysis of economic paradoxes having direct impact on the capitalism failures such as economic bubbles, economic crisis and unstable economic growth. The analysis of economic paradoxes and their implication son failures of capitalism provided in the paper presents the new approach in developing policies aimed at increasing economic growth stability and overcoming failures of capitalism.

  5. 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 Entrep

  6. Military Famine, Human Rights, and Child Hunger: A Cross-National Analysis, 1990-2000

    Science.gov (United States)

    Jenkins, J. Craig; Scanlan, Stephen J.; Peterson, Lindsey

    2007-01-01

    Discussions of world hunger have focused on economic growth and international food aid, assuming that food supply is the critical issue. The authors show that food access rooted in social stratification and military power is the central problem. Synthesizing the entitlement and military famine approaches to hunger, the authors examine the effects…

  7. 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

  8. 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 investmen

  9. Economic Growth Models Transition

    Directory of Open Access Journals (Sweden)

    Coralia Angelescu

    2006-03-01

    Full Text Available The transitional recession in countries of Eastern Europe has been much longer than expected. The legacy and recent policy mistakes have both contributed to the slow progress. As structural reforms and gradual institution building have taken hold, the post-socialist economics have started to recover, with some leading countries building momentum toward faster growth. There is a possibility that in wider context of globalization several of these emerging market economies will be able to catch up with the more advanced industrial economies in a matter of one or two generations. Over the past few years, most candidate countries have made progress in the transition to a competitive market economy, macroeconomic stabilization and structural reform. However their income levels have remained far below those in the Member States. Measured by per capita income in purchasing power standards, there has been a very limited amount of catching up over the past fourteen years. Prior, the distinctions between Solow-Swan model and endogenous growth model. The interdependence between transition and integration are stated in this study. Finally, some measures of macroeconomic policy for sustainable growth are proposed in correlation with real macroeconomic situation of the Romanian economy. Our study would be considered the real convergence for the Romanian economy and the recommendations for the adequate policies to achieve a fast real convergence and sustainable growth.

  10. Economic Growth Models Transition

    Directory of Open Access Journals (Sweden)

    Coralia Angelescu

    2006-01-01

    Full Text Available The transitional recession in countries of Eastern Europe has been much longer than expected. The legacy and recent policy mistakes have both contributed to the slow progress. As structural reforms and gradual institution building have taken hold, the post-socialist economics have started to recover, with some leading countries building momentum toward faster growth. There is a possibility that in wider context of globalization several of these emerging market economies will be able to catch up with the more advanced industrial economies in a matter of one or two generations. Over the past few years, most candidate countries have made progress in the transition to a competitive market economy, macroeconomic stabilization and structural reform. However their income levels have remained far below those in the Member States. Measured by per capita income in purchasing power standards, there has been a very limited amount of catching up over the past fourteen years. Prior, the distinctions between Solow-Swan model and endogenous growth model. The interdependence between transition and integration are stated in this study. Finally, some measures of macroeconomic policy for sustainable growth are proposed in correlation with real macroeconomic situation of the Romanian economy. Our study would be considered the real convergence for the Romanian economy and the recommendations for the adequate policies to achieve a fast real convergence and sustainable growth.

  11. Population growth and economic growth: any connection?

    Science.gov (United States)

    Kasun, J R

    1982-12-01

    The author examines the current evidence concerning the relationship between population growth and economic growth, with particular reference to the justification for U.S. assistance to programs designed to slow rates of population growth in developing countries. It is concluded that "the results of economic theory and research do not support the oft-repeated claims that population growth inhibits economic growth." The author suggests that the reason for continued U.S. support for population programs is the effectiveness of a population lobby that has a vested interest in the continuation of such assistance.

  12. Budget Policy and Economic Growth

    OpenAIRE

    Georgy Idrisov; Sergey Sinelnikov-Murylev

    2013-01-01

    This article examines the relationship between government budgetary policy and the pursuit of accelerated economic growth. The authors review the academic debate over long-term economic growth and associated short-term fluctuations and conclude that Russian budgetary intended to smooth fluctuations in economic activity are of limited effect and that there are no opportunities for increasing public expenditure in the medium and long-term. For these reasons, the structure of expenditures must b...

  13. 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...

  14. Reconceptualizing the Association between Food Insufficiency and Body Weight: Distinguishing Hunger from Economic Hardship.

    Science.gov (United States)

    Ross, Catherine E; Hill, Terrence D

    2013-01-01

    What is the association between food insufficiency and body weight? Although common sense would suggest a negative association, research often finds the opposite. We contrast commodity theories of material privation with stress theories, proposing that the seemingly counterintuitive association results from the confounding influence of economic hardship. Because it is a chronic stressor, economic hardship may contribute to overweight. Data from the WCF project of 2,402 disadvantaged women in Chicago, Boston, and San Antonio show that people who experience economic hardship weigh more; and that the true negative association between body weight and food insufficiency-especially going hungry because one cannot afford food-is revealed only after adjustment for economic hardship.

  15. Hunger and Malnutrition

    Science.gov (United States)

    ... TV, Video Games, and the Internet Hunger and Malnutrition KidsHealth > For Parents > Hunger and Malnutrition Print A ... to meet their needs. What Are Hunger and Malnutrition? Everyone feels hungry at times. Hunger is the ...

  16. Blue Growth and Economics

    Directory of Open Access Journals (Sweden)

    Phoebe eKoundouri

    2015-11-01

    Full Text Available Oceans and seas represent over 70% of the earth's surface. Furthermore, living aquatic resources can provide a significant contribution to food, energy and bio-based products. However, marine ecosystems are subject to increasing pressures and competing usages, resulting from resources over-exploitation and pollution. In order to produce efficient marine management plans, it is essential to consider the total economic value provided by the marine ecosystems. In this review, we are focusing on the Marine Framework Strategy Directive and the European Marine Spatial Planning that are established for the protection and efficient use of the marine area. We present the ecosystem services approach with regards to the marine ecosystem and propose economic methods that capture the marine ecosystem’s total economic value in relation to the opportunity cost of marine space. Values should be used to guide policy makers following the European directives and initiatives.

  17. Institutions, Entrepreneurship, and Economic Growth

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul; Bjørnskov, Christian

    2016-01-01

    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...... 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....

  18. Agglomeration, Inequality and Economic Growth

    OpenAIRE

    David Castells; Vicente Royuela

    2014-01-01

    The impact of income inequality on economic growth is dependent on several factors, including the time horizon considered, the initial level of income and its initial distribution. Yet, as growth and inequality are also uneven across space, it is also pertinent to consider the effects of the geographical agglomeration of economic activity. Moreover, it would also seem pertinent to consider not just the levels of inequality and agglomeration, but also the changes they undergo (i.e., their with...

  19. Structural Differences in Economic Growth

    NARCIS (Netherlands)

    N. Basturk (Nalan); R. Paap (Richard); D.J.C. van Dijk (Dick)

    2008-01-01

    textabstractThis paper addresses heterogeneity in determinants of economic growth in a data-driven way. Instead of defining groups of countries with different growth characteristics a priori, based on, for example, geographical location, we use a finite mixture panel model and endogenous clustering

  20. Quality, Export and Economic Growth

    DEFF Research Database (Denmark)

    Madsen, Erik Strøjer; Pedersen, Kurt

    1998-01-01

    Growth rates in Far Eastern economies have, until recently, been one of the most debated international features. At the same time, quality focus has spread from the same region, notably Japan. It seems only natural to include the concept of quality in an attempt to understand economic growth in a...

  1. The water-energy-food-climate-economics nexus: solving hunger and resource scarcity

    Science.gov (United States)

    Lall, U.

    2011-12-01

    A nexus refers to the core or to interconnectivity across issues. Addressing the boundary interactions of traditional sectors in an interconnected world as human activities change the physical boundaries of land and climate is an emerging academic and governance discourse. Through contrasting examples from the US and India, I shed light on the descriptive aspects of these connections and feedbacks that define potential impacts or traps for societies, and ponder whether a massive conceptual or numerical Earth System Model can help inform outcomes, or whether there are dominant links at particular scales (physical, social, economic or biological) that characterize the emergent dynamics and define critical equilibrium or transient solutions in certain places. However, the real question is what next given the definition of the nexus? Here, I argue that given the current valuation and management structure of different resource sectors and the associated information flows and sensitivities, the interlinked energy-climate issues can emerge as useful drivers of improved productivity in water-food systems, thus promoting resource and environmental sustainability while promoting economic development. Thus, levers can be found that help steer the course of these complex interacting systems towards desirable sectoral outcomes.

  2. Political Instability and Economic Growth

    OpenAIRE

    Swagel, Phillip; Roubini, Nouriel; Ozler, Sule; Alesina, Alberto

    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...

  3. 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 example, the influence of prevailing ethical norms on the aggregate elasticity of substitution and, therefore, total factor productivity and growth....

  4. 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)....

  5. 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......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 example, the influence of prevailing ethical norms on the aggregate elasticity of substitution and, therefore, total factor productivity and growth....

  6. On Technology, Uncertainty and Economic Growth

    NARCIS (Netherlands)

    K.G. Berden (Koen)

    2006-01-01

    textabstractIt is one of the most popular and debated topics in economic science: economic growth. Where do high or low growth rates come from and how do the mechanisms that underlie economic growth work? Who gains and who loses? Uncertainty has a negative impact on economic growth,

  7. On Technology, Uncertainty and Economic Growth

    NARCIS (Netherlands)

    K.G. Berden (Koen)

    2006-01-01

    textabstractIt is one of the most popular and debated topics in economic science: economic growth. Where do high or low growth rates come from and how do the mechanisms that underlie economic growth work? Who gains and who loses? Uncertainty has a negative impact on economic growth, directly

  8. 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 regiona

  9. Financial Liberalization and Economic Growth

    NARCIS (Netherlands)

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

    2013-01-01

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

  10. Economic Gurus on Future Growth

    Institute of Scientific and Technical Information of China (English)

    HU YUE

    2010-01-01

    @@ The GDP grew 8.7 percent year on year in 2009,beating the government-set target of 8 percent.Though overshadowed by the turbo-charged growth rate the country enjoyed in previous years,the turnaround was swift enough to make China the first major economic power to tide over the downturn.

  11. 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

  12. 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

  13. 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 investigate

  14. "The Mathematics of Economic Growth"

    OpenAIRE

    Nancy J. Wulwick

    1990-01-01

    Traditionally, economists have considered that mathematics acts as a universal language that lends clarity to theoretical statements. This paper proposes that mathematics does not function as a mere language. Rather, the advocacy of particular theoretical views and the choice of mathematical formalisms go hand-in-hand. The paper explores this issue by investigating the role of mathematics in developments of the theory of economic growth.

  15. Corruption, Inequality and Economic Growth

    OpenAIRE

    Ambar, Rabnawaz

    2015-01-01

    Corruption is worst curse of social system, which ruins all values of community and derails badly. It causes inequality in the whole chain, due to which some parties get too much profit, while other becomes miserable, leading to several street crimes as well as moral devaluations. Due to corruption and inequality, the economic growth is poorly affected, leading to imbalance in the society, causing lack of demand in the market, opportunities of labor and misbehavior of customers. Public can no...

  16. Islamic Banking And Economic Growth: A Review

    National Research Council Canada - National Science Library

    Ahmed El-Galfy; Khiyar Abdalla Khiyar

    2012-01-01

    .... However, few studies have examined the impact of Islamic banking on economic growth. To fill this gap in literature, this paper investigates the potential effects of Islamic banking on economic growth...

  17. "Demand Constraints and Economic Growth"

    OpenAIRE

    Marc-Andre Pigeon; L. Randall Wray

    1999-01-01

    In recent years, the U.S. has seemed to achieve the best of all possible worlds: robust economic growth, very low unemployment, and low inflation. Many would attribute this performance to fewer supply side constraints, as the U.S. has moved away from stifling regulations and other impediments to trade. Indeed, our lower unemployment rates—especially when compared with the very high unemployment rates suffered in European countries—would appear to be due to freer labor markets and to a less ge...

  18. 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

  19. [Economic growth and health inequities].

    Science.gov (United States)

    Tapia Granados, José A

    2013-01-01

    This essay reviews the relation between health inequities and economic growth. The general meaning of these and ancillary concepts (economic development, health inequalities) is briefly reviewed. Some studies illustrating different hypotheses on the long-run historical evolution of health inequalities are presented, and three case studies -the United States in 1920-1940 and in recent years, Finland during the expansion of the 1980s and the recession of the 1990s- are reviewed to demonstrate the evolution of health inequalities during the periods of expansion and recession in markets economies that conform to the so-called business cycle. Health inequities between ethnic groups and social classes are often found in modern societies, and some of these disparities seem to be widening. Periods of economic expansion do not seem favorable for the lessening of health inequalities. Contrarily, and counter-intuitively, evidence rather suggests that it is during periods of recession that gaps in health between privileged and disadvantaged groups tend to narrow.

  20. Political Stability and Economic Growth in Asia

    Directory of Open Access Journals (Sweden)

    Muhammad Muhammad

    2008-01-01

    Full Text Available This study investigates the effects of various factors of political instability on economic growth in selected ten Asian economies during 1990-2005. Our empirical findings show a close relationship between political stability and economic growth. We have analyzed the data by using ordinary least squire econometrics methods, which conclude that 32.35 scores increasing of index of political stability leads to one percent increase in economic growth. From these finding based on Asia experiences, we can conjecture that political stability plays a dominant role in determination of economic growth and sources of capital accumulation. This study uses the average proportion methods and Tinbergen diagrams to show the relative importance of political stability than economic freedom to accumulate capital, measured by four sources of capital accumulation which are proximate causes for economic growth. The results also clearly show that the role of political stability in accelerating economic growth is more vital than economic freedom.

  1. Entrepreneurship and Economic Growth: An Obvious Conjunction?

    OpenAIRE

    Dejardin, Marcus

    2001-01-01

    This paper consists of an introductory survey of two fundamental questions regarding the link between entrepreneurship and economic growth. The first one deals with the endogenous relationship between entrepreneurship and growth. In particular, we suggest that, while more entrepreneurship could mean more economic growth, economic growth in turn could affect the individual arbitrage between different professional occupations (including entrepreneurship) and expected payoffs. The second questio...

  2. Value Concept and Economic Growth Model

    Directory of Open Access Journals (Sweden)

    Truong Hong Trinh

    2014-12-01

    Full Text Available This paper approaches the value added method for Gross Domestic Product (GDP measurement that explains the interrelationship between the expenditure approach and the income approach. The economic growth model is also proposed with three key elements of capital accumulation, technological innovation, and institutional reform. Although capital accumulation and technological innovation are two integrated elements in driving economic growth, institutional reforms play a key role in creating incentives that effect the transitional and steady state growth rate in the real world economy. The paper provides a theoretical insight on economic growth to understand incentives and driving forces in economic growth model.

  3. The population factor in economic growth theory

    NARCIS (Netherlands)

    Meilink, H.A.

    1974-01-01

    Reviews briefly the role of population growth in economic growth theory and makes a few critical remarks on the applied methodology and the underlying assumptions. Emphasis is laid on the possible relationships between population and economic growth in the developing countries, but also Malthus' the

  4. REFERENCE MODELS OF ENDOGENOUS ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    GEAMĂNU MARINELA

    2012-05-01

    Full Text Available 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.

  5. Confronting world hunger.

    Science.gov (United States)

    Huddleston, B

    1983-01-01

    In 1980, per capita food supplies were less than adequate in 53 developing countries. More than half of these were the predominantly rural, low income countries of South Asia, China, and Sub-Saharan Africa. Finding the proper balance between satisfying immediate human needs and building political and economic systems in which individuals can in the future acquire the means to satisfy their own requirements is the central issue facing those in the fight against world hunger. At the international level, developed countries have responded to world hunger by raising the minimum level of food aid provided when supplies are scarce and by creating a financing facility for cereal imports. The food and agriculture sector is receiving a highe priority than before in the allocation of international development assistance, and more attention is being given to the effects of both general food subsidies and targeted nutrition programs on future agricultural output. At the national level, over 40 developing countries have requested assistance from the World Food Council for the preparation of food sector strategies. Although such measures are important, they do not directly address local problems and individual needs. For example, dietary intake tends to be lower in urban than in rural households in Latin America at the same level of income. These urban groups require health and nutrition interventions that simultaneously address their immediate need for food, clean water, and health care and their more longterm need for employment. Longterm economic development that provides adequate income to all segments of the population is the best means to combat hunger, and income security also reduces incentives for large family size. The contribution of the international community should remain the transfer of resources and the provision of technical assistance. At the individual level, the need for targeted food distribution programs continues. Greater benefit can be obtained from

  6. 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.

  7. Geoinformation perspectives on innovation and economic growth

    CSIR Research Space (South Africa)

    Cooper, Antony K

    2009-03-01

    Full Text Available ). This paper also considers the issues of intellectual property rights, standards and digital curation for innovation and economic growth. Key words Geoinformation, Innovation, Economic growth, Spatial data infrastructure, Address, Location-based service..., User generated content, Intellectual property right, Standard, Digital curation. 2 1. Introduction 1.1 Background This paper aims to provide some geographical information (geoinformation) perspectives on innovation and economic growth...

  8. Education and Economic Growth in Uzbekistan

    Directory of Open Access Journals (Sweden)

    Akram Ochilov

    2012-11-01

    Full Text Available Education is admitted to be one of the fundamental determinants of social and economic progress of any nation. In particular, the quantity and quality of education may have significant effect on economic growth. The research attempted to determine the existence of correlation between quantity/quality of education and the economic growth in Uzbekistan. Regression estimation with GDP growth as dependent variable and school enrollment rates as well as pupils-to-teacher ratio as independent variables revealed weak relationship between education and economic growth in Uzbekistan

  9. 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.

  10. The main determinants affecting economic growth

    Directory of Open Access Journals (Sweden)

    Florin Teodor BOLDEANU

    2015-12-01

    Full Text Available Growth theories highlight the evolution and trends in economic thought that shaped the way economic growth is perceived. From the early works of Adam Smith and Malthus to the present day researchers have tried to find the most important determinates that influence growth by formulating new and improved theories and models. In this article we try to offer our point of view in the evolution of the main factors that have an impact on economic growth. There is still not a consensus on the key determinants of growth and an all-encompassing model that includes all the influences has not yet been elaborated.

  11. Possible role for growth hormone in suppressing acylated ghrelin and hunger ratings during and after intermittent exercise of different intensities in obese individuals.

    Science.gov (United States)

    Gholipour, Majid; Kordi, Mohamad Reza; Taghikhani, Mohamad; Ravasi, Ali Asghar; Gaeini, Abas Ali; Tabrizi, Arezoo

    2014-01-01

    Body weight is influenced by both food intake and energy expenditure. Acylated ghrelin enhances appetite, and its circulating level is suppressed by growth hormone. Data on the acylated ghrelin responses to exercise of different intensities in obese individuals are currently not available. This study examined the effects of an intermittent exercise protocol on acylated ghrelin levels and hunger ratings in obese people. Nine inactive male ran on the treadmill at 0900 with progressive intensities of 50, 60, 70, and 80% of VO2max for 10, 10, 5, and 2 min respectively. Blood samples were collected before the exercise at 0845 (-15 min as the resting values), after each workload (10, 23, 31, and 36 min during exercise), and at 30, 60, and 120 min thereafter. The control trial was conducted under identical conditions with the exception of exercise. Compared to the baseline, both acylated ghrelin levels and hunger ratings were suppressed at 70% of VO2max during exercise (17.74 vs. 9.80 pmol/L and 4.84 vs. 2.96 unit respectively) and remained significantly lower than the control trial 2 h after the cessation of exercise (13.95 vs. 20.32 pmol/L and 3.33 vs. 6.04 unit, respectively). Growth Hormone increased during the exercise period and peaked at 80% of VO2max. These findings indicate that acylated ghrelin concentrations and hunger ratings are suppressed during exercise and two hours thereafter in obese individuals, and it is possible that Growth Hormone caused the suppression of acylated ghrelin.

  12. Possible role for growth hormone in suppressing acylated ghrelin and hunger ratings during and after intermittent exercise of different intensities in obese individuals.

    Directory of Open Access Journals (Sweden)

    Majid Gholipour

    2014-01-01

    Full Text Available Body weight is influenced by both food intake and energy expenditure. Acylated ghrelin enhances appetite, and its circulating level is suppressed by growth hormone. Data on the acylated ghrelin responses to exercise of different intensities in obese individuals are currently not available. This study examined the effects of an intermittent exercise protocol on acylated ghrelin levels and hunger ratings in obese people. Nine inactive male ran on the treadmill at 0900 with progressive intensities of 50, 60, 70, and 80% of VO2max for 10, 10, 5, and 2 min respectively. Blood samples were collected before the exercise at 0845 (-15 min as the resting values, after each workload (10, 23, 31, and 36 min during exercise, and at 30, 60, and 120 min thereafter. The control trial was conducted under identical conditions with the exception of exercise. Compared to the baseline, both acylated ghrelin levels and hunger ratings were suppressed at 70% of VO2max during exercise (17.74 vs. 9.80 pmol/L and 4.84 vs. 2.96 unit respectively and remained significantly lower than the control trial 2 h after the cessation of exercise (13.95 vs. 20.32 pmol/L and 3.33 vs. 6.04 unit, respectively. Growth Hormone increased during the exercise period and peaked at 80% of VO2max. These findings indicate that acylated ghrelin concentrations and hunger ratings are suppressed during exercise and two hours thereafter in obese individuals, and it is possible that Growth Hormone caused the suppression of acylated ghrelin.

  13. Hunger, escaping excess.

    Science.gov (United States)

    Gardner, G; Halweil, B

    2000-01-01

    According to the WHO, in spite of decades of global food surpluses, half of humanity, in both rich and poor nations, is still malnourished. Malnutrition has become a significant impediment to development in rich and poor countries, alike. At the individual level, both hunger and poor eating habits reduce a person's physical fitness, increase susceptibility to illness, and shorten lifespan. In addition, children deprived of adequate nutrients during development can suffer from permanently reduced mental capacity. At the national level, poor eating hampers educational performance, curtails economic productivity, increases the burden on health care, and reduces well-being. Confronting this epidemic of poor eating will have widespread benefits, but the myths and misconceptions permeating humanity¿s understanding of malnutrition should be addressed first. It is noted that the major cause of hunger is poverty, not scarcity of food; it is the lack of access to the goods and services essential for a healthy life. On the other hand, for those who have access to plenty of food, dietary intake includes meat, dairy products, and highly processed items loaded with fat and sugar. This leads to the problem of obesity, a condition that increases susceptibility to disease and disability, reduces worker productivity, and shortens lifespan. In view of this, efforts to improve nutrition should focus on poverty eradication, health education, agricultural change, and policy change towards promotion of good nutrition.

  14. Remittances, Economic Freedom, and Economic Growth in North African Countries

    Directory of Open Access Journals (Sweden)

    Nahed Zghidi

    2015-12-01

    Full Text Available This contribution investigates the causal interactions between foreign direct investment (FDI, economic freedom and economic growth in a panel of 4 countries of North Africa (Tunisia, Morocco, Algeria and Egypt from 1980 to 2012. Using System Generalized Method of Moment (GMM panel data analysis, we find strong evidence of a positive link between remittances and economic growth. We also find evidence that economic freedom appear to be working as a complement to remittances and, moreover, that the effect of remittances is more pronounced in the presence of the economic freedom variable. Thus, to the extent that remittances have become a major source of external development finance, policies promoting greater freedom of economic activities gain significantly from the presence of remittances.

  15. 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.

  16. Traffic fatalities and economic growth.

    Science.gov (United States)

    Kopits, Elizabeth; Cropper, Maureen

    2005-01-01

    This paper examines the relationship between traffic fatality risk and per capita income and uses it to forecast traffic fatalities by geographic region. Equations for the road death rate (fatalities/population) and its components--the rate of motorization (vehicles/population) and fatalities per vehicle (F/V)--are estimated using panel data from 1963 to 1999 for 88 countries. The natural logarithm of F/P, V/P, and F/V are expressed as spline (piecewise linear) functions of the logarithm of real per capita GDP (measured in 1985 international prices). Region-specific time trends during the period 1963-1999 are modeled in linear and log-linear form. These models are used to project traffic fatalities and the stock of motor vehicles to 2020. The per capita income at which traffic fatality risk (fatalities/population) begins to decline is 8600 US dollars (1985 international dollars) when separate time trends are used for each geographic region. This turning point is driven by the rate of decline in fatalities/vehicles as income rises since vehicles/population, while increasing with income at a decreasing rate, never declines with economic growth. Projections of future traffic fatalities suggest that the global road death toll will grow by approximately 66% over the next twenty years. This number, however, reflects divergent rates of change in different parts of the world: a decline in fatalities in high-income countries of approximately 28% versus an increase in fatalities of almost 92% in China and 147% in India. The road death rate is projected to rise to approximately 2 per 10,000 persons in developing countries by 2020, while it will fall to less than 1 per 10,000 in high-income countries.

  17. Determinants of economic growth in Nigeria

    OpenAIRE

    2014-01-01

    This paper investigates the role of Frazer Economic Freedom Index on FDI-growth relationship over the period spanning 1980 through 2010 using annual time series data. A Multivariate Regression approach was employed to estimate augmented growth models. Quite intriguingly, the impact of disaggregated economic freedom over aggregated composite index was found profoundly revealing. Emanated results show that the same set of variables like labour, life expectancy, degree of openness and economic f...

  18. Understanding the Drivers of Economic Growth: Grounding Endogenous Economic Growth Models in Resource-Advantage Theory

    Directory of Open Access Journals (Sweden)

    Shelby D. Hunt

    2012-12-01

    Full Text Available Foss (2012 provides an informed and informative comment on my article “Trust, Personal Moral Codes, and the Resource-Advantage Theory of Competition: Explaining Productivity, Economic Growth, and Wealth Creation” (Hunt, 2012. In general, his comment is highly supportive of both the theory and the arguments developed in my article. He does, however, raise certain issues that need to be addressed. These issues relate to the concept of total factor productivity, the role of institutions in promoting economic growth, and the importance of understanding how transaction costs impact entrepreneurship and economic growth. This reply focuses on his discussion of growth economics and endogenous economic growth models.

  19. BETWEEN ECONOMIC GROWTH AND SUSTAINABLE DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    TROANCA DUMITRU

    2013-02-01

    Full Text Available Economic growth and Sustainable development concepts have emerged at different moments in history.However, at this time, they are related to each other more than ever, because at one point, one of them evolutiondetermined the other’s birth, preventing humanity to destroy itself.This paper intends to present some conceptual delimitation, evolution of the concept of economic growth, butalso several theories and models of economic growth that was the subject of specialists’ researches. Like any economicphenomenon, growth brings some benefits and some costs. When these costs threaten the future of humanity, somesolutions need to be found, no matter how hard ware them to implement, to remove unwanted effects.In this light, the paper deals with the concept of sustainable development, with this emergence and evolution, butespecially with the link between sustainable development and economic growth.

  20. WHY ECONOMIC GROWTH IS NEVER SUSTAINABLE

    Directory of Open Access Journals (Sweden)

    Ivars Brīvers

    2011-04-01

    Full Text Available The first decade of the XXI century clearly shows that the notion of the people concerning the values and goals in economy should be revised. As a result of global crisis economic theory may experience essential changes, as it was during the Great Depression in the XX century. The aim of the paper is to show the necessity of reconsidering the goals in economy. The hypothesis is that growth economy has become non-sustainable and it should be substituted by an economy of a different design – steady-state economy. The paper contains a review and analysis of various ideas about the problem, focusing mainly on the interpretation of the notion of sustainable development and the costs and benefits of economic growth; the way, how we measure things in economy and about the widespread illusions about the possibility of perpetual economic growth. The conclusion is that any growth, including economic growth is never sustainable.

  1. Economics of southern growth. [7 papers

    Energy Technology Data Exchange (ETDEWEB)

    Liner, E.B.; Lynch, L.K. (eds.)

    1977-01-01

    The book presents both the documentation of Southern economic growth and an examination of the major economic problems. Chapter 1, by Lawrence K. Lynch and E. Evan Brunson, documents Southern growth from 1970 to 1975, compares that growth to growth in the nation, and evaluates the comparative impact of the 1974 to 1975 recession. Chapter 2, by William H. Miernyk, analyzes the structure of the Southern economy in terms of the Clark-Fisher hypothesis. The economic structure of the South has become similar to the nation's; the relative importance of agricultural and energy production in the South will tend to maintain the South's growth advantage. Chapter 3, by Charles F. Haywood, explores the capital needs of the South, and finds that demands for capital will accelerate. Significant inflows of capital from other regions, other nations, and strengthened local sources of capital will be needed. Chapter 4, by Madelyn Lockhart, compares the income distributions and labor markets of the South and the nation, but argues that measures of economic well-being do not properly reflect all factors. Chapter 5, by Russell L. Howard, examines the limitations on area and regional growth imposed by energy prices and availability; he points out that Southern industries are energy-intensive. Chapter 6, by Mancur Olson, proposes a view on why the South is outgrowing the North: that the development of organized interest groups that obtain political and economic power tends to slow the rate of economic growth. Chapter 7, by C. L. Jusenius and L. C. Ledebur, presents comparative data on economic growth and status for the Southern and the Northern tiers of states. Although economic growth in the South has been more rapid in recent years, the economic status of the South still lags the North.

  2. Globalization and Economic Growth: Evidence from Pakistan

    Directory of Open Access Journals (Sweden)

    Zaheer Khan Kakar

    2011-06-01

    Full Text Available The process of globalization has positives as well as negative impacts on any society,which differ from country to country. The negative effects can be countered by adopting the policiesthat contribute in economic development. This study attempts to review the nature of relationshipbetween economic growth and globalization in Pakistan for the period 1980-2009 by employing thetime series data. Co-integration and error correction technique are use to determine the long run effectof globalization on economic growth. The results indicate that globalization can be a useful tool foreconomic growth for a developing country like Pakistan.

  3. EVIDENCE ON EMPLOYMENT RATE AND ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Cornelia VĂCEANU

    2014-11-01

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

  4. Overcoming the contradiction between promoting economic growth and transforming the economic growth pattern

    Institute of Scientific and Technical Information of China (English)

    张其仔; 郭朝先; 白玫

    2009-01-01

    Promoting economic growth has become the first and foremost objective of macro-control since China experienced a drastic economic downturn in the fourth quarter of 2008. Now China is at a special stage of transition characterized by the transformation of the economic growth mode. While promoting economic growth, the government must effectively coordinate the relationship between economic growth and the transformation of growth mode. This is not a task that can be done easily. To promote economic growth, the central government has selected a number of industries and formulated an industrial revitalization plan for each of these them. Revitalizing these industries helps promote economic growth at the present stage but propelling these industries alone still cannot fully meet the requirements for transforming the economic growth pattern. To coordinate the relationship between promoting economic growth and transforming the economic growth pattern, it is currently imperative to adjust China’s industrial upgrading strategy and to pay attention to intra-industrial upgrading, particularly process upgrading.

  5. Economic Growth in Mozambique? An Assessment

    OpenAIRE

    1999-01-01

    In this paper we try to assess the nature, size and consistency of recent economic growth in Mozambique. We attempt to verify whether and to what extent this growth is unprecedented as has been claimed. We look at the available data to assess whether this growth is even across sectors and GDP components. Finally we try to assess whether by any indication we can say if observed growth is balanced and, if not, to what extent economic policy is actually responsible. We argue that ...

  6. Implications of Fiscal Responsibility on Economic Growth

    National Research Council Canada - National Science Library

    Anca Florentina Gavriluţă (Vatamanu)

    2017-01-01

    ... preserving fiscal discipline. This study tests the implications of fiscal responsibility on economic growth with the scope to analyze and find out the major issue of responsible public finances...

  7. ECONOMIC GROWTH, THE FINANCIAL SYSTEM AND INSTITUTIONS

    Directory of Open Access Journals (Sweden)

    Luccas Assis Attílio

    2016-12-01

    Full Text Available Given the importance of economic growth to improve the standard of living of society, many policies that favor this result are discussed and undertaken, however, given the failure of many nations to increase their products, the topic is relevant and current. The financial system is a part of the economic system that assists output growth, however, given the financial crises in recent decades, it is necessary to understand the relationship financial system and economic growth. However, it is noticed that an important channel connecting these two variables have been far from the debate: the institutions. This article is a survey that explores the connection between economic growth, financial system and institutions.

  8. Mathematical Models of Economic Growth

    NARCIS (Netherlands)

    J. Tinbergen (Jan); H.C. Bos (Henk)

    1962-01-01

    textabstractEconomics Handbook Series, edited by Seymour E. Harris. In Spanish: Modelos Matematicos del Crecimiento Económico, Series ‘Biblioteca de Ciencias Sociales’, Aguilar, Madrid, 1966, XVI + 165 p. In French: Modèles Mathématiques de Croissance Economique. Series ‘Techniques Economiques Moder

  9. Japans and Chinas Economic Growth and Energy Hunger in Comparative and Historical Perspective

    Science.gov (United States)

    2014-06-01

    CONSTRUCTIVISM ....................................................................................18 D. CONCLUSION...interdependence or liberal institutionalism, and constructivism . 2 Power transition theory, as a component of hegemonic realism,1 posits that war is...approach. The theory of constructivism claims that social behaviors (human interactions) affect international relations more than institutions, norms and

  10. Concentration of Resources and Economic Growth

    Directory of Open Access Journals (Sweden)

    David Castells-Quintana

    2015-05-01

    Full Text Available In this letter I summarise the main results and contributions from my Ph.D. thesis on concentration of resources and economic development. The empirical analysis performed in the thesis, and summarised here, focuses on two mayor world trends in modern economic development, namely increasing agglomeration and rising inequalities within countries. In particular, the impact of both trends on long-run economic growth is studied, and results are discussed in light of relevant policy debate.

  11. Amenities and Rural Appalachia Economic Growth

    OpenAIRE

    Deller, Steven C.; Lledo, Victor

    2007-01-01

    Patterns of economic growth in rural Appalachia are examined with a focus on natural and built amenities. While the literature is clear that rural areas endowed with scenic beauty, lakes, forests, and wildlife, among other natural amenities, and coupled with built amenities such as golf courses, are experiencing robust economic growth. It is not clear if these patterns extend to rural Appalachia. In this applied research study we use data for rural U.S. counties. We estimate an augmented Carl...

  12. Essays on financial development and economic growth

    OpenAIRE

    2007-01-01

    This thesis was submitted for the award of Doctor of Philosophy and was awarded by Brunel University London This thesis is based on three empirical essays in financial development and economic growth. The first essay, investigated in the third chapter, the effect of financial development on economic growth in the context of Saudi Arabia, an oil-rich economy. In doing so, the study distinguishes between the effects of financial development on the oil and non-oil sectors of the economy. The ...

  13. Economic Limits to Corporate Growth in America

    Science.gov (United States)

    2006-12-01

    question of how fast the economy can grow. Economists such as Krugman (1997) and Blinder (1997) both predicted inherent limits on U.S. economic growth...Age. Brookings Papers on Economic Activity, 1:2000, 125-235. Krugman , P. (1997). How fast can the U.S. economy grow? Harvard Business Review, (July

  14. Metaphor and Economics: The Case of Growth.

    Science.gov (United States)

    White, Michael

    2003-01-01

    Discuses the use of metaphor in business and economics, both in the subject itself and in language for specific purposes instruction. Investigates how variation in economic aggregates is put across in discourse and concludes that the concept of growth plays a key role in this respect. (Author/VWL)

  15. Islamic Banking and Economic Growth

    Directory of Open Access Journals (Sweden)

    Mosab I. Tabash

    2014-09-01

    Full Text Available This paper explores empirically the relationship between the development of Islamic finance system and economic growth and its direction in Qatar. Using econometric analysis, annually time-series data of economic growth and Islamic banks’ financing from 1990 to 2008 were used. We use Islamic banks’ financing funds given by Islamic banks as a proxy for the development of Islamic finance system and Gross Domestic Product (GDP, and Gross Fixed Capital Formation (GFCF as proxies for real economic growth. For the analysis, the unit root test, cointegration test and Granger causality tests were done. The empirical results generally signify that in the long run, Islamic banks’ financing is positive and significantly correlated with economic growth in Qatar which reinforces the idea that a well-functioning banking system promotes economic growth. Furthermore, the results show that Islamic banks’ financing has contributed to the increase of investment in the long term and in a positive way in Qatar. It is one of the first pioneering studies on Islamic Banking and economic growth in Qatar, and the first to be conducted in Middle East as well, thus it has a significant contribution to the body of knowledge The findings of research will be of interest to western and Islamic finance practitioners, policy makers and academicians, who are interested in Islamic finance industry.

  16. External Debt and Economic Growth in Tunisia

    Directory of Open Access Journals (Sweden)

    Nasfi Fkili Wahiba

    2014-12-01

    Full Text Available The objective of this study is to identify the effect of external debt on economic growth; we used the debt service as percentage of exports and debt indicators in the first and second degree. The econometric estimation showed that the sign of the coefficient of debt is positive and the debt squared is negative, and beyond a certain stock, the impact of debt on growth becomes negative and Tunisia must control its debts as additional increases will have adverse impacts on the economic performance of the country. Therefore, the borrowing should remain a necessity in cases of extreme emergency, not a solution to all economic problems experienced by the country.

  17. Energy Distribution and Economic Growth

    DEFF Research Database (Denmark)

    Dalgaard, Carl-Johan Lars; Strulik, Holger

    2011-01-01

    This research examines the physical constraints on the growth process. In order to run, maintain and build capital energy is required to be distributed to geographically dispersed sites where investments are deemed profitable. We capture this aspect of physical reality by a network theory...... from the Solow growth model. Using data for the 50 US states 1960–2000, we examine the determination of growth in electricity consumption per capita and test the model structurally. The model fits the data well. The exponent in the power law connecting capital and electricity is 2/3....... of electricity distribution. The model leads to a supply relation according to which feasible electricity consumption per capita rises with the size of the economy, as measured by capital per capita. Specifically, the relation is a simple power law with an exponent assigned to capital that is bounded between 1...

  18. Export Specialisation and Local Economic Growth

    NARCIS (Netherlands)

    Naude, Wim; Bosker, Maarten; Matthee, Marianne

    2010-01-01

    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 expo

  19. Conflict Between Economic Growth and Environmental Protection

    Energy Technology Data Exchange (ETDEWEB)

    Czech, Bryan

    2012-01-09

    The conflict between economic growth and environmental protection may not be reconciled via technological progress. The fundamentality of the conflict ultimately boils down to laws of thermodynamics. Physicists and other scholars from the physical sciences are urgently needed for helping the public and policy makers grasp the conflict between growth and environmental protection.

  20. Export Specialisation and Local Economic Growth

    NARCIS (Netherlands)

    Naude, Wim; Bosker, Maarten; Matthee, Marianne

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

  1. Coal consumption and economic growth revisited

    Energy Technology Data Exchange (ETDEWEB)

    Wolde-Rufael, Yemane [135 Carnwath Road, London SW6 3HR (United Kingdom)

    2010-01-15

    This paper revisits the causal relationship between coal consumption and real GDP for six major coal consuming countries for the period 1965-2005 within a vector autoregressive (VAR) framework by including capital and labour as additional variables. Applying a modified version of the Granger causality test due to Toda and Yamamoto [Toda HY, Yamamoto T. Statistical inference in vector autoregressions with possibly integrated process. J Econom 1995;66:225-50], we found a unidirectional causality running from coal consumption to economic growth in India and Japan while the opposite causality running from economic growth to coal consumption was found in China and South Korea. In contrast there was a bi-directional causality running between economic growth and coal consumption in South Africa and the United States. Variance decomposition analysis seems to confirm our Granger causality results. The policy implication is that measures adopted to mitigate the adverse effects of coal consumption may be taken without harming economic growth in China and South Korea. In contrast, for the remaining four countries conservation measures can harm economic growth. (author)

  2. 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.

  3. Competitiveness and Economic Growth in Romanian Regions

    Directory of Open Access Journals (Sweden)

    Simionescu Mihaela

    2016-12-01

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

  4. Growth Regression and Economic Theory

    NARCIS (Netherlands)

    Elbers, Chris; Gunning, Jan Willem

    2002-01-01

    In this note we show that the standard, loglinear growth regression specificationis consistent with one and only one model in the class of stochastic Ramsey models. Thismodel is highly restrictive: it requires a Cobb-Douglas technology and a 100% depreciationrate and it implies that risk does not af

  5. Cultural diversity and economic growth

    DEFF Research Database (Denmark)

    Ager, Philipp; Brückner, Markus

    2013-01-01

    We exploit the large inflow of immigrants to the US during the 1870–1920 period to examine the effects that within-county changes in the cultural composition of the US population had on output growth. We construct measures of fractionalization and polarization to distinguish between the different...

  6. 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.

  7. The Importance of Education in Economic Growth

    Directory of Open Access Journals (Sweden)

    Selami Ahmet Salgür

    2013-12-01

    Full Text Available The main purpose of this paper is to examine the relationship between education and the economic growth of a country. Education is one of the most important factors for the economic and social developments of a society; and it is also the main component of the construction of human capital. It is very difficult for a country to accomplish a successful economic progress if it does not invest sufficiently and judiciously in education. Therefore, investment in education is seen as the vital part of a country’s economic development. It is clear that educational investments are expensive and long-term projects and must be more important than other possible development projects in order to ensure the welfare and prosperity of societies. Unfortunately, this idea falls especially focusing on most under-developed countries. For this reason, the importance of education in a country’s economic development and growth must be stated and asserted overtly and unambiguously.

  8. Population aging and endogenous economic growth.

    Science.gov (United States)

    Prettner, Klaus

    2013-04-01

    We investigate the consequences of population aging for long-run economic growth perspectives. Our framework incorporates endogenous growth models and semi-endogenous growth models as special cases. We show that (1) increases in longevity have a positive impact on per capita output growth, (2) decreases in fertility have a negative impact on per capita output growth, (3) the positive longevity effect dominates the negative fertility effect in case of the endogenous growth framework, and (4) population aging fosters long-run growth in the endogenous growth framework, while its effect depends on the relative change between fertility and mortality in the semi-endogenous growth framework.Electronic supplementary material The online version of this article (doi:10.1007/s00148-012-0441-9) contains supplementary material, which is available to authorized users.

  9. Human Capital, Technology, and Economic Growth

    Directory of Open Access Journals (Sweden)

    Chindo Sulaiman

    2015-11-01

    Full Text Available This article investigated the impact of human capital and technology on economic growth in Nigeria. We employed annual time series data for the period of 35 years (1975-2010 and applied autoregressive distributed lag approach to cointegration to examine the relationship between human capital, technology, and economic growth. Two proxies of human capital (secondary and tertiary school enrollments were used in two separate models. The cointegration result revealed that all the variables in the two separate models were cointegrated. Furthermore, the results of the two estimated models showed that human capital in form in secondary and tertiary school enrollments have had significant positive impact on economic growth. More so, technology also shows significant positive impact on economic growth. In a nutshell, both human capital and technology are important determinants of growth in Nigeria. Therefore, improvement of the educational sector and more funding for research and development (R&D to encourage innovations are needed to facilitate Nigeria’s sustained economic growth.

  10. Trade Liberalisation and Economic Growth in Macedonia

    Directory of Open Access Journals (Sweden)

    Mano-Bakalinov Viktorija

    2016-12-01

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

  11. Equity, Economic Growth and Lifestyle

    DEFF Research Database (Denmark)

    Meyer, Niels I; Nørgaard, Jørgen; Hvelplund, Frede

    2011-01-01

    Consequences of global warming are appearing much faster than assumed just a few years ago and irreversible ”tipping points” are few years ahead [IPCC, James Hansen]. So far, strategies for mitigation of global warming have mostly been focusing on technological solutions e.g. renewable energy...... sources (RES) in the supply sector and energy efficiency in the demand sector. Much less attention has been given to potential changes in life style and to alternative economic and social systems. This chapter will focus on non-technological strategies for mitigation of global warming including...... such questions as national and international equity, “limits to growth”, alternative employment policies, military and security policy and alternatives to traditional GDP as the dominant indicator of welfare and of sound development....

  12. Economic Growth and Landscape Change

    Science.gov (United States)

    Prato, Tony; Fagre, Dan

    2007-01-01

    Prato and Fagre offer the first systematic, multi-disciplinary assessment of the challenges involved in managing the Crown of the Continent Ecosystem (CCE), an area of the Rocky Mountains that includes northwestern Montana, southwestern Alberta, and southeastern British Columbia. The spectacular landscapes, extensive recreational options, and broad employment opportunities of the CCE have made it one of the fastest growing regions in the United States and Canada, and have lead to a shift in its economic base from extractive resource industries to service-oriented recreation and tourism industries. In the process, however, the amenities and attributes that draw people to this “New West” are under threat. Pastoral scenes are disappearing as agricultural lands and other open spaces are converted to residential uses, biodiversity is endangered by the fragmentation of fish and wildlife habitats, and many areas are experiencing a decline in air and water quality.

  13. Population and Economic Growth in Developing Countries

    Directory of Open Access Journals (Sweden)

    Minh Quang Dao

    2012-01-01

    Full Text Available This paper examines the economic effects of the demographic transition in developing countries. Based on data from the World Bank and using a sample of forty-three developing economies, we find that the growth rate of per capita GDP is linearly dependent upon population growth, both the young and old dependency ratios, the mortality rate, and whether or not the rate of population growth is less than 1.2 percent per year. Using interaction variables in light of the severe degree of multicollinearity among explanatory variables, we find that per capita GDP growth linearly depends on population growth, the old dependency ratio, the mortality rate, and the interactions between population growth and both the young and old dependency ratios, between population growth and whether or not the rate of population growth is less than 1.2 percent per year, and the interaction term between the young dependency ratio and whether or not the rate of population growth is less than 1.2 percent per year. Statistical results of such an empirical examination will assist governments in devising policies aimed at influencing the economic effects of the demographic transition. Data for all variables are from the 2010 World Development Indicators. We apply the least-squares estimation technique in a multivariate linear regression. We also test for the nonlinear effect of population growth on economic growth and note that the introduction of interaction terms between population growth and dependency ratios as well as those between whether or not the population growth rate is less than 1.2 percent and population growth and the young dependency ratio yields better statistical results.

  14. Institutions, Technological Change and Economic Growth

    Directory of Open Access Journals (Sweden)

    David Corderí Novoa

    2005-01-01

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

  15. Is really endogenous ghrelin a hunger signal in chickens? Association of GHSR SNPs with increase appetite, growth traits, expression and serum level of GHRL, and GH.

    Science.gov (United States)

    El-Magd, Mohammed Abu; Saleh, Ayman A; Abdel-Hamid, Tamer M; Saleh, Rasha M; Afifi, Mohammed A

    2016-10-01

    Chicken growth hormone secretagogue receptor (GHSR) is a receptor for ghrelin (GHRL), a peptide hormone produced by chicken proventriculus, which stimulates growth hormone (GH) release and food intake. The purpose of this study was to search for single nucleotide polymorphisms (SNPs) in exon 2 of GHSR gene and to analyze their effect on the appetite, growth traits and expression levels of GHSR, GHRL, and GH genes as well as serum levels of GH and GHRL in Mandara chicken. Two adjacent SNPs, A239G and G244A, were detected in exon 2 of GHSR gene. G244A SNP was non-synonymous mutation and led to replacement of lysine amino acid (aa) by arginine aa, while A239G SNP was synonymous mutation. The combined genotypes of A239G and G244A SNPs produced three haplotypes; GG/GG, GG/AG, AG/AG, which associated significantly (P4 to 16w. Chickens with the homozygous GG/GG haplotype showed higher growth performance than other chickens. The two SNPs were also correlated with mRNA levels of GHSR and GH (in pituitary gland), and GHRL (in proventriculus and hypothalamus) as well as with serum level of GH and GHRL. Also, chickens with GG/GG haplotype showed higher mRNA and serum levels. This is the first study to demonstrate that SNPs in GHSR can increase appetite, growth traits, expression and level of GHRL, suggesting a hunger signal role for endogenous GHRL.

  16. Dynamic Ecological Constraints to Economic Growth

    OpenAIRE

    Anke D. Wurzbacher

    2004-01-01

    An important characteristic defining the threat of environmental crises is the uncertainty about their consequences for future welfare. Random processes governing ecosystem dynamics and adaptation to anthropogenic change are the source of prevailing ecological uncertainty and contribute to the problem of how to balance economic development against natural resource conservation. The aim of this study is to describe the implications for steady-state economic growth subject to non-linear dynamic...

  17. INNOVATIVE ASPECTS OF ECONOMIC GROWTH (THE REGION

    Directory of Open Access Journals (Sweden)

    Sergei A. Orekhov

    2014-01-01

    Full Text Available Principles of implementation of innovativetechnologies are positioned as a priorityarea for development in the managementof economic processes in the modernRussian economy. Declares that they are the economic growth of the country. This paper discusses the practice of building existing schemes of organization ofthe economy, which is why the definingelement of this process is the businessclass passengers - is the situation quitedependent and extremely nekomfortnomsituation.

  18. Credit Market Development and Economic Growth

    Directory of Open Access Journals (Sweden)

    Athanasios Vazakidis

    2009-01-01

    Full Text Available Problem statement: This study investigated the relationship between credit market development and economic growth for Italy for the period 1965-2007 using a Vector Error Correction Model (VECM. Questions were raised whether economic growth spurs credit market development taking into account the negative effect of inflation rate on credit market development. The purpose of this study was to investigated the short-run and the long-run relationship between the examined variables applying the Johansen cointegration analysis. Approach: For this purpose unit root tests were carried out according to Dickey-Fuller (1979. Johansen cointegration analysis was applied to examine whether the variables are cointegrated of the same order taking into account the maximum eigenvalues and trace statistics tests. Finally, a vector error correction model was selected to investigate the long-run relationship between economic growth and credit market development. Results: A short-run increase of economic growth per 1% induced an increase of bank lending 0.4% in Italy, while an increase of inflation rate per 1% induced a relative decrease of bank lending per 0.5% in Italy. The estimated coefficient of error correction term was statistically significant and had a negative sign, which confirmed that there was not any a problem in the long-run equilibrium between the examined variables. Conclusion: The results suggested that economic growth has a positive effect on credit market development, while inflation rate had a negative effect. Bank development was determined by the size of bank lending directed to private sector at times of low inflation rates leading to higher economic growth rates.

  19. 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.

  20. Paradox of Our Times: Hunger in a Strong Economy.

    Science.gov (United States)

    Venner, Sandra H.; Sullivan, Ashley F.; Seavey, Dorie

    America today is haunted by the paradox of hunger and food insecurity amidst unprecedented prosperity. Despite a record economic expansion, millions of American households struggle to find sufficient resources to feed family members. Focusing on families with children, this report presents current evidence on hunger and food insecurity, identifies…

  1. Austerity, fiscal volatility, and economic growth

    OpenAIRE

    Curatola, Giuliano; Donadelli, Michael; Gioffré, Alessandro; Grüning, Patrick

    2014-01-01

    This paper contributes to the ongoing debate on the relationship between austerity measures and economic growth. We propose a general equilibrium model where (i) agents have recursive preferences; (ii ) economic growth is endogenously driven by investments in R&D; (iii) the government is committed to a zero-deficit policy and finances public expenditures by means of a combination of labor taxes and R&D taxes. We find that austerity measures that rely on reducing resources available to the R&D...

  2. 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.

  3. 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.

  4. Entrepreneurship, export orientation, and economic growth

    NARCIS (Netherlands)

    S.J.A. Hessels (Jolanda); A.J. van Stel (André)

    2009-01-01

    textabstractIn this paper the relationship between a country’s prevalence of new ventures and its rate of economic growth is investigated, while taking into account new ventures’ export orientation. It is generally acknowledged that new venture creation as well as export activity may both be importa

  5. Economic development and growth in transition countries

    NARCIS (Netherlands)

    Rusinova, D.T.

    2010-01-01

    The countries of Central and Eastern Europe and the former Soviet Union, commonly referred to as "transition countries", have undergone transformations unparalleled in recent economic history. This book concentrates on three aspects of the transition process: the factors driving growth, the effect

  6. How Does Social Trust Affect Economic Growth?

    DEFF Research Database (Denmark)

    Bjørnskov, Christian

    Social capital in the form of generalized trust has been shown to be a determinant of economic growth in a number of studies. Other studies have explored other consequences of trust, such as its effects on governance, corruption, education and investment. This paper connects the two strands...

  7. Human Capital Composition and Economic Growth

    Science.gov (United States)

    Tsai, Chun-Li; Hung, Ming-Cheng; Harriott, Kevin

    2010-01-01

    The objective of this paper is to analyze the effect of various compositions of human capital on economic growth. We construct alternative measures of human capital composition using five fields of study. In each instance, the measure represents the number of graduates in the respective field as a percentage of all graduates. The measures are as…

  8. Human Capital Composition and Economic Growth

    Science.gov (United States)

    Tsai, Chun-Li; Hung, Ming-Cheng; Harriott, Kevin

    2010-01-01

    The objective of this paper is to analyze the effect of various compositions of human capital on economic growth. We construct alternative measures of human capital composition using five fields of study. In each instance, the measure represents the number of graduates in the respective field as a percentage of all graduates. The measures are as…

  9. Economic development and growth in transition countries

    NARCIS (Netherlands)

    Rusinova, D.T.

    2010-01-01

    The countries of Central and Eastern Europe and the former Soviet Union, commonly referred to as "transition countries", have undergone transformations unparalleled in recent economic history. This book concentrates on three aspects of the transition process: the factors driving growth, the effect o

  10. Economic growth, sectoral structure and unemployment

    NARCIS (Netherlands)

    de Groot, H.L.F.

    1998-01-01

    This thesis consists of three parts that deal with the relationship between the relative wealth of nations, economic growth, and the sectoral structure of economies. In the first part, the focus is on the relative stagnancy of Europe versus the USA in terms of productivity levels and unemployment. I

  11. 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.

  12. House Price, House Quality and Economic Growth

    NARCIS (Netherlands)

    De Vries, P.; Boelhouwer, P.J.

    2010-01-01

    The literature on housing markets suggest that periods of economic growth are characterised by a demand for better housing quality and increasing prices. The basic principles of the theory are that the short-run price fluctuations occur due to market imperfection, while over the long term, causality

  13. EDUCATION AS A FACTOR IN ECONOMIC GROWTH.

    Science.gov (United States)

    MACKERTICH, ALEX

    THE VALUE OF AN EDUCATION IN THE ECONOMIC GROWTH OF AN UNDERDEVELOPED COUNTRY (INDIA) WAS INVESTIGATED USING THE CASE STUDY APPROACH. DATA WERE GATHERED AT BOTH THE CENTRAL GOVERNMENT AND VILLAGE LEVELS THROUGH INTERVIEWS WITH INDIAN GOVERNMENT OFFICIALS AND FROM OFFICIAL GOVERNMENT PUBLICATIONS CONCERNING THE NATION'S EDUCATIONAL EFFORTS, AS…

  14. Financial Sector Structure and Economic Growth

    DEFF Research Database (Denmark)

    Rapp, Marc Steffen

    that over time equity financing (bank credit) becomes more (less) important for the corporate sector in developed economies. Third, it reports novel country-level evidence on the link between financial sector structure and economic growth in developed economies. The results suggest that the capital market...... measures of financial sector structure. Thereby, it pays special attention to the Danish financial sector, which is found to be relatively large but skewed towards debt and credit. Moreover, the Danish bond market, while relatively large, seems dominated by banks and corporates seem virtually absent...... – and in particular the stock market – is beneficial for economic growth in these countries. Simultaneously, the analysis suggests that caution is warranted with high levels of private credit volume as they seem to be detrimental to economic development. Fourth, it provides cross-country comparison of various...

  15. Three essays on energy and economic growth

    Science.gov (United States)

    Peach, Nathanael David

    2011-12-01

    This dissertation explores the relationship between energy and economic growth. Chapter Two, Three, and Four examine the interaction of energy-related measures and economic outcomes by applying different methodologies across various spatial dimensions. Chapter Two shows that increases in energy consumption are necessary for increases in state level economic growth to occur. Chapter Three estimates a simultaneous supply and demand energy market at the state level. This system allows for estimates of structural elasticities to be obtained. Findings indicate that energy supply is considerably more elastic than energy demand. Energy demand is found to be determined by responses to short run shocks rather than long run processes. Chapter Four estimates the impact of changes in various elements of governance and institutional quality impact genuine investment within an economy. Increases in democracy are predicted to decrease genuine investment in energy-rich nations. The dissertation concludes with Chapter Five.

  16. Hunger and violence

    OpenAIRE

    Özenoğlu, Aliye; Ünal, Gökçe

    2015-01-01

    Nutrient deficiencies and disturbances in metabolism of neurotransmitters and hormones, induced by nutrient deficiencies, affect the behavior of individuals. In this review, the effect of deficiencies that occur in the body as a result of hunger on the formation of aggression and violent behavior are intended to be explained by biological processes. Articles published between the years 1993-2014 using keywords hunger, lack of nutrients, aggression, violence were scanned on Pubmed database, ho...

  17. Ghrelin: much more than a hunger hormone

    Science.gov (United States)

    Ghrelin is a multifaceted gut hormone that activates its receptor, growth hormone secretagogue receptor (GHS-R). Ghrelin's hallmark functions are its stimulatory effects on growth hormone release, food intake and fat deposition. Ghrelin is famously known as the 'hunger hormone'. However, ample recen...

  18. FDI AND ECONOMIC GROWTH IN CEE COUNTRIES

    Directory of Open Access Journals (Sweden)

    Lenuta CARP (CEKA

    2015-04-01

    Full Text Available The aim of the current paper is to emphasize the correlation between FDI inflows and GDP growth rate in selected countries from Central and Eastern Europe (CEE. The dynamic of FDI inflows and GDP growth rate have been significantly affected by the current economic crisis, which has led to a decrease in foreign capital inflows and a restrained of investment projects. However, macroeconomic imbalances and increased volatilities have determined a strong contraction of GDP growth rates in these economies, except Poland which was the most resilient to worldwide shocks. The results show a unidirectional causality between FDI and GDP growth in all cases, except Hungary. Further analysis will be developed testing the impact of foreign flows volatility on GDP growth.

  19. Does Political Ideology Affect Economic Growth?

    DEFF Research Database (Denmark)

    Bjørnskov, Christian

    2005-01-01

    their political ideology, affect economic performance. The paper presents evidence suggesting that rightwing societies have grown faster in the last decades than other democratic societies. Further analysis suggests that these societies develop better legal systems and less government intervention, which in turn......This paper asks the question whether political ideology affects economic growth. Voters may demand inefficient levels of redistribution and government intervention, and they may care too little for aspects that really matter for the economy. Their norms and perceptions of society might, via...

  20. Economic Development and Population Growth. International Evidence Economic Development and Population Growth. International Evidence

    Directory of Open Access Journals (Sweden)

    Munir Quddus

    1986-03-01

    Full Text Available Economic Development and Population Growth. International Evidence The paper usses Granger causality tests on economic development and population growth for 44 countries to discriminate among several alternative hypotheses. The time series evidence does not provide an unambiguous picture as to the exact nature of the relationship. Therefore, previous attempts to generalize such relationship based on simple cross-section data are strongly suspect.

  1. Economic growth, energy demand and the environment. Empirical insights using time series and decomposition analysis

    Energy Technology Data Exchange (ETDEWEB)

    Boehm, Dirk C.

    2011-07-01

    Industrialization and increasing mobility in developing countries like China and India are resulting in growing energy demand. This hunger for energy is largely satisfied by fossil fuels and thus accompanied by rising emissions. This book aims at empirically giving insights about the relationship between energy consumption, economic growth and CO{sub 2} emissions using recent panel cointegration and decomposition methods. The investigation is carried out for the top energy consumers and CO{sub 2} emitters worldwide with a special emphasis on the European Union and some focus countries for the detailed analysis of the industry and transport sector. The results confirm the need for a more sustainable energy system by implementing measures of energy efficiency and reducing carbon intensity of energy supply by shifting from fossil fuels to renewable energy sources. (orig.)

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

    Institute of Scientific and Technical Information of China (English)

    吴隽; 刘洪久; 栾天行

    2003-01-01

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

  3. [Models of economic theory of population growth].

    Science.gov (United States)

    Von Zameck, W

    1987-01-01

    "The economic theory of population growth applies the opportunity cost approach to the fertility decision. Variations and differentials in fertility are caused by the available resources and relative prices or by the relative production costs of child services. Pure changes in real income raise the demand for children or the total amount spent on children. If relative prices or production costs and real income are affected together the effect on fertility requires separate consideration." (SUMMARY IN ENG)

  4. Economic growth, biodiversity loss and conservation effort.

    Science.gov (United States)

    Dietz, Simon; Adger, W Neil

    2003-05-01

    This paper investigates the relationship between economic growth, biodiversity loss and efforts to conserve biodiversity using a combination of panel and cross section data. If economic growth is a cause of biodiversity loss through habitat transformation and other means, then we would expect an inverse relationship. But if higher levels of income are associated with increasing real demand for biodiversity conservation, then investment to protect remaining diversity should grow and the rate of biodiversity loss should slow with growth. Initially, economic growth and biodiversity loss are examined within the framework of the environmental Kuznets hypothesis. Biodiversity is represented by predicted species richness, generated for tropical terrestrial biodiversity using a species-area relationship. The environmental Kuznets hypothesis is investigated with reference to comparison of fixed and random effects models to allow the relationship to vary for each country. It is concluded that an environmental Kuznets curve between income and rates of loss of habitat and species does not exist in this case. The role of conservation effort in addressing environmental problems is examined through state protection of land and the regulation of trade in endangered species, two important means of biodiversity conservation. This analysis shows that the extent of government environmental policy increases with economic development. We argue that, although the data are problematic, the implications of these models is that conservation effort can only ever result in a partial deceleration of biodiversity decline partly because protected areas serve multiple functions and are not necessarily designated to protect biodiversity. Nevertheless institutional and policy response components of the income biodiversity relationship are important but are not well captured through cross-country regression analysis.

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

    Science.gov (United States)

    Bloom, D E; Sachs, J D

    1998-01-01

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

  6. Relationship of Economic Growth with Tourism Sector

    Directory of Open Access Journals (Sweden)

    Abdul Holik

    2016-06-01

    Full Text Available This research aims to analyze the impact of  foreign tourists towards the economic growth. It was conducted from 1995 until 2012 on five ASEAN member countrie: Indonesia, Malaysia, Thailand, Philippines, and Singapore. It used the quantitative method; it is one-way random effect of panel regression. The data, which is functioned as dependent variables, were taken from WDI (World Development Indicator of the World Bank for the Gross Domestic Product (GDP. Meanwhile, the data of revenue from the foreign tourist visit (Rec, the number of foreign tourist arrival (Arr, and the exchange rate (Xrate are functioned as the independent variables. Based on the research result, there is evidence that international tourism can increase the economic growth in those countries. The three independent variables have a positive and  significant impact to the dependent variables. Based on the findings, the governments of five ASEAN member countries should be able to maintain the sustainability of tourism sector in order to be stronger and to have global market-orientation. In fact, tourism services can support the  economic growth because the potential of those ASEAN countries cannot be taken lightly.

  7. Relationship of Economic Growth with Tourism Sector

    Directory of Open Access Journals (Sweden)

    Abdul Holik

    2016-06-01

    Full Text Available This research aims to analyze the impact of foreign tourists towards the economic growth. It was conducted from 1995 until 2012 on five ASEAN member countrie: Indonesia, Malaysia, Thailand, Philippines, and Singapore. It used the quantitative method; it is one-way random effect of panel regression. The data, which is functioned as dependent variables, were taken from WDI (World Development Indicator of the World Bank for the Gross Domestic Product (GDP. Meanwhile, the data of revenue from the foreign tourist visit (Rec, the number of foreign tourist arrival (Arr, and the exchange rate (Xrate are functioned as the independent variables. Based on the research result, there is evidence that international tourism can increase the economic growth in those countries. The three independent variables have a positive and significant impact to the dependent variables. Based on the findings, the governments of five ASEAN member countries should be able to maintain the sustainability of tourism sector in order to be stronger and to have global market-orientation. In fact, tourism services can support the economic growth because the potential of those ASEAN countries cannot be taken lightly.

  8. Economic Reforms, Corporate Governance and Dividend Policy in Sectoral Economic Growth in Pakistan

    OpenAIRE

    2012-01-01

    The paper attempts to establish a relationship economic reforms, dividend policy and economic growth. Broadly, the study tries to develop a link between economic reforms and economic growth. Further narrowing down, we split economic reforms into monetary, fiscal and governance reforms and find their influence on sectoral growth specifically focusing on corporate governance reforms. In Pakistan, as we have gone through phenomenon economic and structural changes during the last decade so the st...

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

    Directory of Open Access Journals (Sweden)

    Mangasa Augustinus Sipahutar

    2016-06-01

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

  10. 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.

  11. COAL CONSUMPTION AND ECONOMIC GROWTH IN TURKEY

    Directory of Open Access Journals (Sweden)

    Alper Aslan

    2013-01-01

    Full Text Available This aim of this paper is to use asymmetric causality tests to examine the coal consumption and Gross Domestic Product (GDP relationship in Turkey based on data from 1980 to 2006. To investigate this relationship, a multivariate system is employed by including fixed capital formation and labor force variables into the model. The empirical results obtained from asymmetric causality tests show no causality for coal consumption and GDP relationship in Turkey. The results indicate that coal consumption does not affect growth; hence, energy conservation policies may be pursued without adversely affecting growth in Turkey. Thus, neutrality hypothesis is confirmed for Turkey. This means that a decrease in coal consumption does not affect economic growth and vice versa. In this case, policymakers should explore the feasibility of either decreasing the coal consumption or increasing the efficiency of coal consumption.

  12. 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)...

  13. THE INVESTMENTS, ECONOMIC GROWTH FACTORS OR CONSUMPTION OF DEVELOPMENT POTENTIAL?

    Directory of Open Access Journals (Sweden)

    Huru Dragos

    2008-05-01

    Full Text Available In Romania, in the last year the economic growth is a real phenomenon that is not our subject for demonstration or for analyze in this paper. Our concern is related with the way of manifestation for economic growth in the economic system. We study if not the economic growth on the contrary of development for current or further performance (regardless of economic aspect or level of analyze can unstuck in consumption of the availed resources for consolidate potential for development.

  14. Global warming, energy use, and economic growth

    Science.gov (United States)

    Khanna, Neha

    The dissertation comprises four papers that explore the interactions between global warming, energy use, and economic growth. While the papers are separate entities, they share the underlying theme of highlighting national differences in the growth experience and their implications for long-term energy use and climate change. The first paper provides an overview of some key economic issues in the climate change literature. In doing so, the paper critically appraises the 1995 draft report of Working Group III of the Intergovernmental Panel on Climate Change. The focus is the choice of a pure rate of time preference in the economic modeling of climate change, abatement costs differentials between developed and developing countries, and contrasting implications of standard discount rates and value of life estimates for these two country groups. The second paper develops a global model that takes account of the depletion of oil resources in the context of a geo-economic model for climate change. It is found that in the presence of non-decreasing carbon and energy intensities and declining petroleum availability, the carbon emissions trajectory is much higher than that typically projected by other models of this genre. Furthermore, by introducing price and income sensitive demand functions for fossil fuels, the model provides a framework to assess the effectiveness of fuel specific carbon taxes in reducing the COsb2 emissions trajectory. Cross-price substitution effects necessitate unrealistically high tax rates in order to lower the projected emissions trajectory to the optimal level. The economic structure of five integrated assessment models for climate change is reviewed in the third paper, with a special focus on the macroeconomic and damage assessment modules. The final paper undertakes an econometric estimation of the changing shares of capital, labour, energy, and technical change in explaining the growth patterns of 38 countries. Production elasticities vary by

  15. Institutions, Education and Innovation and their Impact on Economic Growth

    OpenAIRE

    Miroljub Shukarov; Kristina Marić

    2016-01-01

    The aim of this article is to provide a closer look of the institutions, their development, education and innovation and their impact on economic growth. The postulates of the neo-classical economic growth theories consider the accumulation of human capital and the technological development as factors that promote economic growth. Thus, investing in education, R&D and innovation is essential for a country’s prospects for economic growth. However, the main idea is to present this topic from in...

  16. Natural Hazards, Poverty Traps versus Economic Growth

    Science.gov (United States)

    Netti, Dr.

    2012-04-01

    Governments, even in developed countries, devote too scarce resources to coping (ex-ante) with natural hazards; as a consequence of this short-sightedness, (ex-post) direct and indirect effects of catastrophic events deeply compromise the economic growth. Protective measures against natural hazards mean complex choices involving the opinions of multidisciplinary groups of experts in the fields of ecology, civic and geotechnical engineering, geology, meteorology, law and economics. Moreover, tools and choices affect different stakeholders: politicians, producers, consumers, taxpayers and voters. Complementarity between informed rationality and democracy need to be recognized and guaranteed as too often the perceptions of the majority of the stakeholders involved about natural hazards are not consistent with any objective information about the catastrophic event. The interaction between strict budget constraints, extremely high degrees of uncertainty, risk-aversion and credit rationing, trade-off between democracy and rationality, are the main causes of potential 'poverty traps'. First of all we believe that the 'reconstruction output' to be included in GDP as an ex-post effect of a natural hazard is a forced investment much more effective in crowding-out other consumption and investment and less effective for growth than investments aiming at increasing, ex-ante, the resiliency of the economy. Keynes' 'Animal Spirits' are embedded in positive expectation for future gains especially if not concentrated in reconstruction procurement sectors but spread across different sectors of the economy. The increased demand for reconstruction goods and services may act in both directions depending on the phase of the business cycles in which the economy is. Risk premiums for risk-averter investors increase in consequence of a natural hazard event; this restrict budget constraints and strengthen credit rationing. A mere replacement effect of the destroyed capital by a more

  17. Food insecurity, hunger, and undernutrition

    Science.gov (United States)

    Food insecurity, hunger, and undernutrition are viewed as a continuum, with food insecurity resulting in hunger and ultimately, if sufficiently severe and/or of sufficient duration, in undernutrition. Food insecurity indicates inadequate access to food for whatever reason, hunger is the immediate ph...

  18. Climate Change, Economic Growth, and Health

    Energy Technology Data Exchange (ETDEWEB)

    Ikefuji, Masako [Institute of Social and Economic Research, Osaka University, Osaka (Japan); Magnus, J.R. [Department of Econometrics and Operations Research, Tilburg University, Tilburg (Netherlands); Sakamoto, Hiroaki [Department of Economics, Kyoto University, Kyoto (Japan)

    2010-08-08

    This paper studies the interplay between climate, health, and the economy in a stylized world with four heterogeneous regions, labeled 'West' (cold and rich), 'China' (cold and poor), 'India' (warm and poor), and 'Africa' (warm and very poor). We introduce health impacts into a simple integrated assessment model where both the local cooling effect of aerosols as well as the global warming effect of CO2 are endogenous, and investigate how those factors affect the equilibrium path. We show how some of the important aspects of the equilibrium, including emission abatement rates, health costs, and economic growth, depend on the economic and geographical characteristics of each region.

  19. Social Capital, Economic Growth and Transition Economies

    DEFF Research Database (Denmark)

    Svendsen, Gert Tinggaard

    1998-01-01

    Summary: What does social capital mean and how can it be built? Social capital is considered as a new production factor which must be added to the conventional concepts of human and physical capital. Social capital is productive because it increases the level of trust in a society and allows more......-trade. Second, state withdrawal should be combined with efforts to increase economic growth and gain popular support for the implementation of reforms. Third, voluntary groups, beneficial to the economy, should not be institutionalized to prevent them from turning into harmful rent-seeking groups....

  20. China Expected to maintain Sustainable Economic Growth

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    @@ China has seen a 10.9 percent growth in its national economy in the first half of the year. However, Chinese top leaders have warned of possible overheating and emphasized better macroeconomic control. For example, Chinese Premier Wen Jiabao, in a recent tour of Northeast China, called for the relevant departments to boost the economy of the northeastern industrial base through sustainable development. He said the reforms of stateowned enterprises should be continued, while inspiring the growth of the private economic sector and cooperation with other regions and neighboring countries. Wen also stressed a system for environment protection and ecological compensation is also required, calling for the establishment of surveillance and warning systems for environment protection in the northeastern Liaoning, Jilin and Heilongjiang provinces, where some of the nation's major oil fields are located.

  1. Development of Technology Transfer Economic Growth Metrics

    Science.gov (United States)

    Mastrangelo, Christina M.

    1998-01-01

    The primary objective of this project is to determine the feasibility of producing technology transfer metrics that answer the question: Do NASA/MSFC technical assistance activities impact economic growth? The data for this project resides in a 7800-record database maintained by Tec-Masters, Incorporated. The technology assistance data results from survey responses from companies and individuals who have interacted with NASA via a Technology Transfer Agreement, or TTA. The goal of this project was to determine if the existing data could provide indications of increased wealth. This work demonstrates that there is evidence that companies that used NASA technology transfer have a higher job growth rate than the rest of the economy. It also shows that the jobs being supported are jobs in higher wage SIC codes, and this indicates improvements in personal wealth. Finally, this work suggests that with correct data, the wealth issue may be addressed.

  2. Endogenous longevity, biological deterioration and economic growth.

    Science.gov (United States)

    Sanso, Marcos; Aísa, Rosa M

    2006-05-01

    The identification of the types of bidirectional interactions that take place between longevity and economic growth in the long-run is carried out by means of the integration of human capital accumulation, innovation in medical technology, a health goods sector, and individual decisions on health and longevity in a dynamic general equilibrium set-up. In this context, in which individual agents decide not only on their "quality" of life but also on its "quantity", the mere process of biological deterioration, that is to say, the continuous loss of health goods effectiveness in maintaining a given level of health as individuals age, provides the reason for an additional, and new, engine of growth.

  3. 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.

  4. Economic growth and greenhouse gas emissions

    Energy Technology Data Exchange (ETDEWEB)

    Ansuategi, Alberto [Environment Department, University of York, York (United Kingdom); Escapa, Marta [Foundations of Economic Analysis Department, University of the Basque Country, Bilbao (Spain)

    2002-01-01

    Recent empirical research has examined the relationship between certain indicators of environmental degradation and income, concluding that in some cases an inverted U-shaped relationship, which has been called an environmental Kuznets curve (EKC), exists between these variables. Unfortunately, this inverted U-shaped relationship does not hold for greenhouse gas emissions. One explanation of the absence of EKC-like behavior in greenhouse gas emissions is that greenhouse gases are special pollutants that create global, not local, disutility. But the international nature of global warming is not the only reason that prevents de-linking greenhouse gas emissions from economic growth. The intergenerational nature of the negative impact of greenhouse gas emissions may have also been an important factor preventing the implementation of greenhouse gas abatement measures in the past. In this paper we explore the effect that the presence of intergenerational spillovers has on the emissions-income relationship. We use a numerically calibrated overlapping generations model of climate-economy interactions. We conclude that: (1) the intertemporal responsibility of the regulatory agency, (2) the institutional capacity to make intergenerational transfers and (3) the presence of intergenerationally lagged impact of emissions constitute important determinants of the relationship between economic growth and greenhouse gas emissions.

  5. Poverty alleviation with economic growth strategy: Prospects and ...

    African Journals Online (AJOL)

    Poverty alleviation with economic growth strategy: Prospects and challenges in ... by making a choice between growth-promoting policies and poverty-focused ... poverty through a broadly-based growth process with an explicit orientation to ...

  6. Sustainable Economic Growth: a Perspective for Macedonia

    Directory of Open Access Journals (Sweden)

    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.

  7. Back to oil: Indonesia economic growth after Asian financial crisis

    OpenAIRE

    Heru Iswahyudi

    2016-01-01

    This paper examines the growth experience of Indonesia in the years before and after the Asian financial crisis. Particular attention is paid to the relationship between economic growth and petroleum sector’s total factor productivity (TFP). It finds the possibility that post-crisis Indonesian economic growth has ‘recoupled’ with petroleum sector’s TFP – fluctuations in petroleum TFP is directly correlated with fluctuations in economic growth. Further, although keeping Indonesia’s petroleum s...

  8. Financial Development and Economic Growth: A Panel Data Approach

    Directory of Open Access Journals (Sweden)

    Nuno Carlos LEITÃO

    2010-10-01

    Full Text Available The relationship between financial development and economic growth has been studied long time in economics (Adam Smith and Schumpeter. Structural reforms and the integration of financial markets have been attracting the interest of the academic community. This manuscript examines the link between financial development and economic growth. The European Union Countries (EU-27, and BRIC (Brazil, Russia, India and China were examined, between 1980 and 2006. Using a static and dynamic panel data approach, the results demonstrate that the financial development contribute to economic growth. Our study also consider productivity and trade, these proxies confirm the positive effect on economic growth.

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

    Science.gov (United States)

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

    2013-01-01

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

  10. 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 h

  11. 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

  12. Empirical analysis between industrial structure and economic growth of china

    Institute of Scientific and Technical Information of China (English)

    姚西龙; 尤津; 郝鹏飞

    2008-01-01

    In recent years,the relationship between the industrial structure and economic growth is more and more concerned by scholars. According to the theory of industrial structure and economic development, this article use regression analysis method that estimates the three major industries’ contribute to Chinese economic growth and use cluster analysis methods, then discuss how to optimize the indus-trial structure.

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

    Science.gov (United States)

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

    2013-01-01

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

  14. 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

  15. Economic growth factors system: theoretical and methodological aspect

    Directory of Open Access Journals (Sweden)

    H.Ya. Hlukha

    2014-03-01

    Full Text Available 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 exogenous and endogenous factors have been analyzed; - reflexive and elastic economic growth factors have been determined; - economic policy was given the role of reflective element within the system to ensure economic growth. The system of factors should be considered within the system that ensures economic growth. It comprises two important elements which enlist the economic growth factors system, economic growth rates system and two reflexive elements – the state economic policy and economic growth models system. While analyzing the economic growth factors, their quality and impact upon the economy should be considered. Economic growth depends on the factors, consideration of which is one of the most important aspects of the economic growth theory. Economic growth reasons are the factors that cause this growth. These are phenomena and processes that can increase the production output, improve efficiency and quality. Factors classification completeness and their diversity do not necessarily mean the dead end of the study. Any classification has the sense only if it fulfills the certain function. If we take into account economic growth modeling, factors diversification and their characteristics classification it implies that models are becoming more complex, the range of their parameters expands, however it does not necessarily lead to more accurate prognosis. All the factors have different impact upon the economic development. Their first type is elastic ones

  16. Trends in mortality decrease and economic growth.

    Science.gov (United States)

    Niu, Geng; Melenberg, Bertrand

    2014-10-01

    The vast literature on extrapolative stochastic mortality models focuses mainly on the extrapolation of past mortality trends and summarizes the trends by one or more latent factors. However, the interpretation of these trends is typically not very clear. On the other hand, explanation methods are trying to link mortality dynamics with observable factors. This serves as an intermediate step between the two methods. We perform a comprehensive analysis on the relationship between the latent trend in mortality dynamics and the trend in economic growth represented by gross domestic product (GDP). Subsequently, the Lee-Carter framework is extended through the introduction of GDP as an additional factor next to the latent factor, which provides a better fit and better interpretable forecasts.

  17. Oil Prices, Exhaustible Resources, and Economic Growth

    Science.gov (United States)

    Hamilton, J. D.

    2012-12-01

    This talk explores details behind the phenomenal increase in global crude oil production over the last century and a half and the implications if that trend should be reversed. I document that a key feature of the growth in production has been exploitation of new geographic areas rather than application of better technology to existing sources, and suggest that the end of that era could come soon. The economic dislocations that historically followed temporary oil supply disruptions are reviewed, and the possible implications of that experience for what the transition era could look like are explored.nnual crude oil production (in thousands of barrels per year) from the states of Pennsylvania and New York combined, 1860-2010. ashed line: actual value for real GDP, 2007-2009. Red line: dynamic conditional forecast as of 2007:Q3 (1- to 5-quarters ahead) based on oil prices using equation (3.8) in Hamilton (2003)

  18. Correlations between Labor Employment and Economic Growth

    Directory of Open Access Journals (Sweden)

    Sfichi Elena Daniela

    2017-01-01

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

  19. Financial Sector Structure and Economic Growth

    DEFF Research Database (Denmark)

    Rapp, Marc Steffen

    Economists consider a well-functioning financial sector to be of first order importance for a modern (capitalist) economy. However, in the aftermath of the financial crisis a debate about the future role of the financial sector emerged and many commentators have called into question whether...... that over time equity financing (bank credit) becomes more (less) important for the corporate sector in developed economies. Third, it reports novel country-level evidence on the link between financial sector structure and economic growth in developed economies. The results suggest that the capital market...... measures of financial sector structure. Thereby, it pays special attention to the Danish financial sector, which is found to be relatively large but skewed towards debt and credit. Moreover, the Danish bond market, while relatively large, seems dominated by banks and corporates seem virtually absent...

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

    Energy Technology Data Exchange (ETDEWEB)

    Yoo, Seung-Hoon [Department of International Area Studies, Hoseo University, 268 Anseo-Dong, Cheonan, Chungnam 330-713 (Korea); Kwak, So-Yoon [Department of Economics, Korea University, Anam-Dong, Sungbuk-Gu, Seoul 136-701 (Korea)

    2010-01-15

    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. (author)

  1. Economic growth rate management by soft computing approach

    Science.gov (United States)

    Maksimović, Goran; Jović, Srđan; Jovanović, Radomir

    2017-01-01

    Economic growth rate management is very important process in order to improve the economic stability of any country. The main goal of the study was to manage the impact of agriculture, manufacturing, industry and services on the economic growth rate prediction. Soft computing methodology was used in order to select the inputs influence on the economic growth rate prediction. It is known that the economic growth may be developed on the basis of combination of different factors. Gross domestic product (GDP) was used as economic growth indicator. It was found services have the highest impact on the GDP growth rate. On the contrary, the manufacturing has the smallest impact on the GDP growth rate.

  2. How will Population Aging Affect Economic Growth?

    Institute of Scientific and Technical Information of China (English)

    蔡昉; 王美艳

    2007-01-01

    Not long ago,the problem of an aging population only emerged in developed countries once per capita GDP had reached a relatively high level.However,in today’s China,although the per capita GDP has remained low,the problem of growing old before becoming rich is looming.As China is not yet prosperous,economic development needs to be persistently upheld;however,will the aging problem cause economic growth to be challenged by labour shortages in the future? From a structural perspective,although continuous rural labour transfer can ease demand for urban labour,the problem now is that rural labourers are not always qualified to take on positions requiring ever-advancing skills,resulting in a skills drought.It could be claimed that this skills drought is due to a lack of education on the part of rural workers,yet university students with a formal education also encounter difficulties when hunting for a job.Does this indicate that the current education structure should be revised? The above questions suggest that China is currently facing a complicated and delicate situation with regard to the interrelated problems of economy,population,employment and education,and will continue to do so for a long period in the future.These problems require the cautious planning of overall and sustainable policies.The two"Domestic Column"articles this issue offer in-depth analyses of these problems and provide valuable policy suggestions.

  3. 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...

  4. [Ghrelin: beyond hunger regulation].

    Science.gov (United States)

    Milke García, Maria del Pilar

    2005-01-01

    Man ingests food to mitigate hunger (mediated by physiological and biochemical signals), satisfy appetite (subjective sensation) and because of psychosocial reasons. Satiation biomarkers (stop feeding) are gastric distention and hormones (CCK, GLP-1) and satiety biomarkers (induce feeding) are food-induced thermogenesis, body temperature, glycaemia and also hormones (insulin, leptin and ghrelin). Oxidative metabolism/body composition, tryptophan/serotonin and proinflammatory cytokines are also implicated on hunger physiology. At the present time, ghrelin is the only known circulating orexigenic with potential on hunger/body weight regulation. It is a neuropeptide (endogenous ligand for the GH secretagogue) recently isolated from the oxyntic mucosa and synthesized mainly in the stomach. Its blood concentration depends on diet, hyperglucemia and adiposity/leptin. It is secreted 1-2 hours preprandially and its concentration decreases drastically during the postprandium. Ghrelin acts on the lateral hypothalamus and theoretically inhibits proinflammatory cytokine secretion and antagonizes leptin. Ghrelin physiologically increases food intake and stimulates adipogenesis, gastrointestinal motility and gastric acid secretion, and has other hormonal and cardiovascular functions. Ghrelin blood concentration is reduced in massive obesity, non-alcoholic steatohepatitis, polycystic ovary syndrome, acromegaly, hypogonadism, ageing, short bowel syndrome and rheumatoid arthritis; and increased in primary or secondary anorexia, starvation, chronic liver disease and celiac disease. Cerebral and peritoneal ghrelin administration (rats) and systemic administration (rats and healthy volunteers, cancer patients or patients on peritoneal dialysis) promotes food consumption and increases adiposity, of utmost importance in the treatment of patients with anorexia.

  5. Economic Reform, Democracy and Growth during Post-Communist Transition

    OpenAIRE

    Fidrmuc, Jan

    2001-01-01

    This Paper explores interactions between growth, economic liberalization and democratization during transition. The results can be summarized as follows: (1) Liberalization has a strong positive effect on growth during transition. This holds also when controlling for possible endogeneity of liberalization in growth. (2) Democracy encourages liberalization - countries which introduced greater democracy subsequently progress further in economic liberalization too. (3) Because of its reinforcing...

  6. Income inequality and economic growth-the Kuznets curve revisited

    Institute of Scientific and Technical Information of China (English)

    YIN Heng; GONG Liutang; ZOU Heng-fu

    2006-01-01

    In a neoclassical growth framework with a typical political-economy mechanism,this paper reexamines the relationship between the income inequality and economic growth by introducing government spending into the production function and the utility function.It demonstrates that Kuznets' famous inverted-U shape relationship between inequality and economic growth will hold-the growth rate will be first increasing with the income inequality before the growth rate decreases with inequality.

  7. Financial development and economic growth. An empirical analysis for Ireland

    Directory of Open Access Journals (Sweden)

    Antonios Adamopoulos

    2010-07-01

    Full Text Available This study investigated the relationship between financial development and economicgrowth for Ireland for the period 1965-2007 using a vector error correction model (VECM.Questions were raised whether financial development causes economic growth or reverselytaking into account the positive effect of industrial production index. Financial marketdevelopment is estimated by the effect of credit market development and stock marketdevelopment on economic growth. The objective of this study was to examine the long-runrelationship between these variables applying the Johansen cointegration analysis takinginto account the maximum eigenvalues and trace statistics tests. Granger causality testsindicated that economic growth causes credit market development, while there is a bilateralcausal relationship between stock market development and economic growth. Therefore, itcan be inferred that economic growth has a positive effect on stock market development andcredit market development taking into account the positive effect of industrial productiongrowth on economic growth for Ireland.

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

    Directory of Open Access Journals (Sweden)

    Chirwa Themba G.

    2016-12-01

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

  9. 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

  10. Structural Change, Globalization and Economic Growth in China and India

    Directory of Open Access Journals (Sweden)

    Vittorio Valli

    2015-12-01

    Full Text Available In their period of rapid economic growth China and India have experienced profound structural transformations. The aim of the paper is to analyze the relation between structural change, the process of globalization and economic growth in the two great Asian countries, using a highly disaggregated dataset for the 1987-2009 period. While China had a longer and more intensive productivity growth than India, the latter had a somewhat more balanced growth. Both countries registered higher within-sectors gains in productivity than between-sectors ones. Our analysis also shows that there exist important feedbacks between structural change, globalization and economic growth over time. When the reallocation of labor is large, it may positively impact on the future rates of economic growth. At the same time, however, it seems that a too rapid economic growth may hinder a smooth reallocation of labor. In both countries, new policies should be designed to favor labor movement across sectors and areas, to reduce the wage-productivity differentials and to integrate the informal sector in formal markets in India, in order to foster structural changes and enhance economic growth. If a too unbalanced economic growth has somewhat limited the extent of structural change, globalization has on the contrary promoted it. High level of export, import and FDI not only has been related to higher rates of economic growth, but also to a deeper reallocation of resources across sectors, modifying the comparative advantage and reorganizing the production.

  11. The dynamic relationship between money supply and economic growth

    Directory of Open Access Journals (Sweden)

    Antoni Antoni

    2015-10-01

    Full Text Available This study analyzes the influence of the financial sector to economic growth in Indonesia. The variables used are the country's financial sectors which are narrow money (M1, broad money (M2 and money the broadest money (M3, with an interest rate as a control variable. Economic growth is represented by Gross Domestic Product and producer price index. The analysis is performed using an Autoregressive Distributed Lag model (ARDL. The stability test is conducted using CUSUM test to see the changes in the structure and the effect of disruption to financial sector development relationship of economic growth. ARDL analysis results indicate that the development of the financial sector has a significant relationship with the country's economic growth. CUSUM analysis results suggest that the relationship of financial sector development-economic growth is stable against changes in economic structure.

  12. When economic growth is less than exponential

    OpenAIRE

    Groth, Christian; Koch, Karl-Josef; Steger, Thomas M.

    2009-01-01

    This paper argues that growth theory needs a more general notion of “regularity” than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set of parameter combinations than in standard growth models. And it avoids the usual oversimplistic dichotomy of either exponential growth or stagnation. Allowing zero population growth in three ...

  13. Immigration and Economic Growth: Do Origin and Destination Matter?

    OpenAIRE

    Kang, Young ho; Kim, Byung Yeon

    2012-01-01

    This paper assesses the heterogeneous effects of immigration on economic growth depending on both the origin and the destination countries. Following the development of a simple growth model augmented by the embodied human capital of immigrants, we estimate the growth equation using both a gravity-style instrument variable approach and the dynamic system-GMM estimator. We find that immigration from developed economies positively affects the economic growth of the host countries. Furthermore, ...

  14. The Potential of Economic Diplomacy for Kosovo’s Economic Growth

    OpenAIRE

    MA. Arben Salihu

    2015-01-01

    Historically, the wise use of country’s economic potential brought conducive political gains. In contemporary times, where the business competition has reached its peak, the creative diplomacy that caters economic concerns, generally called the economic diplomacy is gaining pace. The term of Economic Diplomacy is fairly new, but apparently the research and evaluation of this concept is rapidly increasing, primarily to assess its impact on economic growth. Despite gaining popularity and acknow...

  15. Keys for successful growth strategies for entrepreneurs after economic crisis

    OpenAIRE

    Georgeta Ilie

    2011-01-01

    Entrepreneurs are important drivers of economic and social progress and change. The paper represents a systematic look inside the growth mechanism of early-stage companies from the perspective of eight different growth strategies for new business enterprises, underlining the opportunities and risks, growth accelerators, and growth challenges.

  16. When economic growth is less than exponential

    DEFF Research Database (Denmark)

    Groth, Christian; Koch, Karl-Josef; Steger, Thomas

    2010-01-01

    This paper argues that growth theory needs a more general notion of "regularity" than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set of par......) serves as illustration that a continuum of "regular" growth processes fill the whole range between exponential growth and complete stagnation....

  17. Alliances in "The Hunger Games"

    Science.gov (United States)

    Painter, Judith

    2012-01-01

    This lesson plan is based on "The Hunger Games" by Suzanne Collins. Characters in "The Hunger Games" form alliances both inside and outside the arena. Katniss and Gale form alliances within District 12. Katniss, Peeta, and the other tributes form alliances for a variety of reasons during the Games. An alliance means that "someone's got your back"…

  18. Economic Growth and Development in the Undergraduate Curriculum

    Science.gov (United States)

    Acemoglu, Daron

    2013-01-01

    A central theme of this article is that economics instructors should spend more time teaching about economic growth and development at the undergraduate level because the topic is of interest to students, is less abstract than other macroeconomic topics, and is the focus of exciting research in economics. Facts and data can be presented to…

  19. Economic Growth and Development in the Undergraduate Curriculum

    Science.gov (United States)

    Acemoglu, Daron

    2013-01-01

    A central theme of this article is that economics instructors should spend more time teaching about economic growth and development at the undergraduate level because the topic is of interest to students, is less abstract than other macroeconomic topics, and is the focus of exciting research in economics. Facts and data can be presented to…

  20. Export Orientation among New Ventures and Economic Growth

    NARCIS (Netherlands)

    S.J.A. Hessels (Jolanda); A.J. van Stel (André)

    2007-01-01

    textabstractWhile it is generally acknowledged that entrepreneurship as well as export activity may both be important strategies for achieving national economic growth, it has remained unclear how export activity among new ventures is related to economic growth. This paper investigates whether the p

  1. Funding of pensions and economic growth : are they really related?

    NARCIS (Netherlands)

    Zandberg, Eelco; Spierdijk, Laura

    2013-01-01

    We examine whether changes in the degree of pension funding affect economic growth. Our sample consists of 54 countries, Organization for Economic Co-operation and Development (OECD) as well as non-OECD, during 2001-10. We do not find any effect of changes in the degree of funding on growth in the s

  2. Information and Communication Technology and Economic Growth in India

    NARCIS (Netherlands)

    Erumban, Abdul; Das, Deb Kusum

    2016-01-01

    This paper examines the sources of economic growth in Indian economy since the 1980s, with particular focus on the role of information and communication technology (ICT). The impact of ICT on economic growth is analyzed via two main channels. The direct contribution of ICT investment to aggregate ec

  3. Economic Growth Assumptions in Climate and Energy Policy

    Directory of Open Access Journals (Sweden)

    Nir Y. Krakauer

    2014-03-01

    Full Text Available The assumption that the economic growth seen in recent decades will continue has dominated the discussion of future greenhouse gas emissions and the mitigation of and adaptation to climate change. Given that long-term economic growth is uncertain, the impacts of a wide range of growth trajectories should be considered. In particular, slower economic growth would imply that future generations will be relatively less able to invest in emissions controls or adapt to the detrimental impacts of climate change. Taking into consideration the possibility of economic slowdown therefore heightens the urgency of reducing greenhouse gas emissions now by moving to renewable energy sources, even if this incurs short-term economic cost. I quantify this counterintuitive impact of economic growth assumptions on present-day policy decisions in a simple global economy-climate model (Dynamic Integrated model of Climate and the Economy (DICE. In DICE, slow future growth increases the economically optimal present-day carbon tax rate and the utility of taxing carbon emissions, although the magnitude of the increase is sensitive to model parameters, including the rate of social time preference and the elasticity of the marginal utility of consumption. Future scenario development should specifically include low-growth scenarios, and the possibility of low-growth economic trajectories should be taken into account in climate policy analyses.

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

    Energy Technology Data Exchange (ETDEWEB)

    Wolde-Rufael, Yemane [135 Carnwath Road, London SW6 3HR (United Kingdom); Menyah, Kojo [London Metropolitan Business School, London Metropolitan University, 84 Moorgate, London EC2M 6SQ (United Kingdom)

    2010-05-15

    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. (author)

  5. Economic growth and the volatility of foreign aid

    NARCIS (Netherlands)

    M. Chervin; S. van Wijnbergen

    2010-01-01

    Foreign aid’s effectiveness in promoting economic growth remains mired in controversy.We examine the impact of the volatility of aid on economic growth, controlling for the level of aid. A four-year panel analysis is conducted encompassing 155 countries over the period 1966-2001. We find that once t

  6. The Impact of Education Investment on Sri Lankan Economic Growth

    Science.gov (United States)

    Ganegodage, K. Renuka; Rambaldi, Alicia N.

    2011-01-01

    We evaluate the contribution of investment on education to Sri Lanka's economic growth during the period 1959-2008. Physical capital, economic policy changes and the ethnic war are also evaluated due to their substantial importance. This study uses a framework encompassing both the neoclassical and endogenous growth model. The impact of education…

  7. 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…

  8. 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...

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

    Directory of Open Access Journals (Sweden)

    Victor N. ITUMO

    2017-08-01

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

  10. ANALYSIS OF FACTORS WHICH AFFECTING THE ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Suparna Wijaya

    2017-03-01

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

  11. Keynes on population and economic growth.

    Science.gov (United States)

    Toye, J

    1997-01-01

    This article discusses the evolution of Keynes's thinking on population based on an unpublished paper from 1914, "Is the Problem of Population a Pressing and Important One Now?" The paper is reported to have 39 pages, but in fact there are many missing page numbers. Keynes's "Essays in Biography" (1933) follows the basic structure and much of the verbal detail of the first 16 pages of "Population." Chapter 2 of the "Economic Consequences of the Peace" discusses the key ideas of "Population." The passages in "Population" and Chapter 2 were probably the sources of a fierce controversy in 1923-24 between Keynes and W.H. Beveridge over Keynes' neo-Malthusianism. "Population" was the basis for the three themes that were central to Keynes's writing on population. Keynes's framework shifted from a global perspective in "Population" to a progressively narrower focus in the 1930s on England and Wales. Keynes was stronger in his advocacy of birth control in "Population" compared to later writings. Keynes was concerned about the quality of population but disagreed on the methods of achieving this. Keynes argued that 75% of the world was not subject to Malthusian dynamics, and the other 25% had developed technology to relieve population pressure. "Population" sketches out the rudiments of the welfare implications of the great divide between North and South population growth rates. Keynes assumes that overpopulation in the South will be compensated for by the international market without consideration of income deficits. Keynes argues against pronatalism. The 1933 essay shows Keynes shift away from Malthus as population expert to Malthus as political economist. By 1937, Keynes had recanted and was very aware of the uncertainty of the economy. The author believes that it is unfortunate that this 1913-14 manuscript remains unknown and, if known, misunderstood.

  12. 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.

  13. Is income relevant for health expenditure and economic growth nexus?

    Science.gov (United States)

    Halıcı-Tülüce, Nadide Sevil; Doğan, İbrahim; Dumrul, Cüneyt

    2016-03-01

    This paper examines the relationship between health expenditure and economic growth using panel data consisting low and high-income countries. Using dynamic panel data methodology, we analyze twenty five high-income and nineteen low-income economies for the periods of 1995-2012 and 1997-2009, respectively. We find reciprocal relationship between health expenditure and economic growth in the short run and one-way causality from economic growth to public health expenditure in the long-run. In high-income countries, there is a two-way causality for both private and public health expenditures in the short-run, while in the long-run there is a one-way causality between economic growth and private health expenditures. The crucial finding of this study is that private health expenditures have negative influence on economic growth while public health expenditures have both negative and statistically significant effect.

  14. 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...

  15. Four Centuries of British Economic Growth

    DEFF Research Database (Denmark)

    Madsen, Jakob B.; Ang, James B.; Banerjee, Rajabrata

    2010-01-01

    of two competing second-generation endogenous growth models to account for the British growth experience. The results suggest that innovative activity was an important force in shaping the Industrial Revolution and that the British growth experience is consistent with Schumpeterian growth theory....

  16. When Economic Growth is Less than Exponential

    DEFF Research Database (Denmark)

    Groth, Christian; Koch, Karl-Josef; Steger, Thomas M.

    This paper argues that growth theory needs a more general notion of "regularity" than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set...

  17. When Economic Growth is Less than Exponential

    DEFF Research Database (Denmark)

    Groth, Christian; Koch, Karl-Josef; Steger, Thomas M.

    This paper argues that growth theory needs a more general notion of "regularity" than that of exponential growth. We suggest that paths along which the rate of decline of the growth rate is proportional to the growth rate itself deserve attention. This opens up for considering a richer set...... of parameter combinations than in standard growth models. And it avoids the usual oversimplistic dichotomy of either exponential growth or stagnation. Allowing zero population growth in three different growth models (the Jones R&D-based model, a learning-by-doing model, and an embodied technical change model......) serve as illustrations that a continuum of "regular" growth processes fill the whole range between exponential growth and complete stagnation....

  18. Foreign trade, environmental protection and sustainable economic growth in China

    Institute of Scientific and Technical Information of China (English)

    CHEN Jiyong; LIU Wei; HU Yi

    2006-01-01

    Since the 1990s,China has exhibited growth in both foreign trade and the economy.Promoting environmental protection and sustainable economic growth are main concerns in the academic profession in the country.This paper makes an empirical analysis of trade and environmental pollution,and discusses the inherent relationship between foreign trade,environmental protection and sustainable economic growth.In addition,this paper makes several policy suggestions with a view to adjusting trade structure,enforcing environmental protection and promoting sustainable economic growth in China.

  19. THE DEBATE OF THE MODERN THEORIES OF REGIONAL ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Alejandro Díaz-Bautista

    2014-07-01

    Full Text Available How do we explain the differences in economic growth in different parts of the nation and the world during the last sixty years? The objective of the study is to survey the traditional theories and models of regional economic growth. The growth literature to date has proposed several answers, included in the neoclassical models, exogenous technological progress and recent endogenous models that emphasize capital accumulation through externalities, learning by doing, or in conjunction with human capital. The paper looks at the recent theoretical and empirical debate related to the theory of regional economic growth.

  20. STOCK MARKET DEVELOPMENT AND ECONOMIC GROWTH AN EMPIRICAL ANALYSIS

    Directory of Open Access Journals (Sweden)

    Vazakidis Athanasios

    2012-01-01

    Full Text Available This study investigated the causal relationship between stock market development and economic growth for Greece for the period 1978-2007 using a Vector Error Correction Model (VECM. Questions were raised whether stock market development causes economic growth taking into account the negative effect of interest rate on stock market development. The purpose of this study was to investigate the short-run and the long-run relationship between the examined variables applying the Johansen co-integration analysis. To achieve this objective unit root tests were carried out for all time series data in their levels and their first differences. Johansen co-integration analysis was applied to examine whether the variables are co-integrated of the same order taking into account the maximum eigenvalues and trace statistics tests. Finally, a vector error correction model was selected to investigate the long-run relationship between stock market development and economic growth. A short-run increase of economic growth per 1% induced an increase of stock market index 0.41% in Greece, while an increase of interest rate per 1% induced a relative decrease of stock market index per 1.42% in Greece. The estimated coefficient of error correction term was statistically significant and had a negative sign, which confirmed that there was not any problem in the long-run equilibrium between the examined variables. The results of Granger causality tests indicated that there is a unidirectional causality between stock market development and economic growth with direction from economic growth to stock market development and a unidirectional causal relationship between economic growth and interest rate with direction from economic growth to interest rate. Therefore, it can be inferred that economic growth has a direct positive effect on stock market development while interest rate has a negative effect on stock market development and economic growth respectively.

  1. Hunger, U.S.A.: A Report by the Citizens' Board of Inquiry into Hunger and Malnutrition in the United States.

    Science.gov (United States)

    1968

    The findings of the Citizen's Board of Inquiry are that: (1) hunger and malnutrition affect millions of Americans and are increasing in severity each year; (2) infant deaths, organic brain damage, retarded growth and learning rates, increased vulnerability to disease, withdrawal, apathy, alienation, frustration, and violence result from hunger and…

  2. 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.

  3. 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

  4. Capital Freedom, Financial Development and Provincial Economic Growth in China

    OpenAIRE

    Söderlund, Bengt; Gustavsson Tingvall, Patrik

    2014-01-01

    For more than three decades, China has managed to combine rapid economic growth with a heavily regulated financial sector. The discrepancy between economic and financial development has raised the question of whether China might be an exception to the so-called finance-growth nexus. This study examines the relationship between finance and growth at the provincial level in China using a new set of measures of capital freedom and financial development. The results indicate that capital freedom ...

  5. Human Capital Development and Economic Growth: The Nigeria Experience

    OpenAIRE

    God’stime Osekhebhen Eigbiremolen; Uchechi Shirley Anaduaka

    2014-01-01

    This study employs the augmented Solow human-capital-growth model to investigate the impact of human capital development on national output, a proxy for economic growth, using quarterly time-series data from 1999-2012. Empirical results show that human capita development, in line with theory, exhibits significant positive impact on output level. This implies that human capital development is indispensable in the achievement of sustainable economic growth in Nigeria, as there is an increase in...

  6. Migration and Economic Growth: a 21st Century Perspective

    OpenAIRE

    Cat Moody

    2006-01-01

    While there is extensive literature on the determinants of migration and its microeconomic effects, the New Zealand theoretical or empirical literature specifically examining the effects of migration on economic growth is not as comprehensive. In New Zealand there has been an implicit underlying assumption that immigration is good for economic growth, as evidenced by the attempted use of immigration to resolve particular labour market problems. This paper uses the growth accounting policy fra...

  7. Rebalancing China's Economic Growth:Some Insights from Japan's Experience

    Institute of Scientific and Technical Information of China (English)

    Tomoyuki Fukumoto; Ichiro Muto

    2012-01-01

    One of the greatest challenges China faces is reshaping its heavily investment-driven mode of economic growth.By investigating how the rebalancing of Japan's economic growth mode was realized in the 1970s,we indicate that it is essential in rebalancing to correct the distortions in factor cost (labor cost and capital cost) in a harmonious way.In addition,we refer to Japan's experience to indicate that rebalancing of domestic growth does not necessarily lead to external rebalancing.

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

    DEFF Research Database (Denmark)

    Kuada, John

    2014-01-01

    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 ...... 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...

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

    Directory of Open Access Journals (Sweden)

    Wang Ying

    2017-07-01

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

  10. INSTITUTIONS, EDUCATION AND INNOVATION AND THEIR IMPACT ON ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Miroljub Shukarov

    2016-03-01

    Full Text Available The aim of this article is to provide a closer look of the institutions, their development, education and innovation and their impact on economic growth. The postulates of the neo-classical economic growth theories consider the accumulation of human capital and the technological development as factors that promote economic growth. Thus, investing in education, R&D and innovation is essential for a country’s prospects for economic growth. However, the main idea is to present this topic from institutional point of view. By using literature and statistical analysis, the article investigates whether the degree of institutional development in country’s educational system is sufficient enough to create prospects for economic growth. We compare four different countries: Macedonia and Serbia as non-EU countries and Bulgaria and Slovenia as EU member countries. We perform two analysis – the first one is comparison of selected statistical data, and the second one is comparison of the Human Development Index for the four countries of interest. The research findings indicate to the fact that institutionalized society with higher degree of institutional development in this case in the educational system is more likely to boost the economic growth. The results also indicate to the fact that societies in which the degree of institutional development is higher, as it is in our case in Slovenia and Bulgaria, are more likely to produce well qualified and skilled labour force which will further impact the economic growth.

  11. Exploring the middle ground between environmental protection and economic growth.

    Science.gov (United States)

    Kaplowitz, Michael D; Lupi, Frank; Yeboah, Felix K; Thorp, Laurie G

    2013-05-01

    Public preference concerning the environment and the economy typically has been characterized as either pro-environmental protection or pro-economic development. Researchers and policymakers increasingly suggest that environmental protection and economic growth are not mutually exclusive. However, use of dichotomous-choice policy preference questions persists. This note empirically examines an alternative response format for the typical dichotomous-choice environmental/economic policy preference question and explores respondents' stated policy preferences in light of their support for recycling. We find that most respondents do not view environmental protection and economic development policy goals to be mutually exclusive. Most respondents view economic growth and environmental protection as compatible suggesting a more heterogeneous view of the environment-economic relationship than oft reported. Hence excluding a middle response choice to the standard environment/economic policy preference question may add measurement error, increase item nonresponse, and fail to account for the views of respondents who view these goals as complementary.

  12. The Potential of Economic Diplomacy for Kosovo’s Economic Growth

    Directory of Open Access Journals (Sweden)

    MA. Arben Salihu

    2015-06-01

    Full Text Available Historically, the wise use of country’s economic potential brought conducive political gains. In contemporary times, where the business competition has reached its peak, the creative diplomacy that caters economic concerns, generally called the economic diplomacy is gaining pace. The term of Economic Diplomacy is fairly new, but apparently the research and evaluation of this concept is rapidly increasing, primarily to assess its impact on economic growth. Despite gaining popularity and acknowledgment, many countries are not taking full advantage of economic diplomacy, the Republic of Kosovo is case in point. The aim of this work is to explore the importance of economic diplomacy for Kosovo, a developing country, but with vast potential for growth. The study begins with a brief analysis on Kosovo economic history and the first signs of economic diplomacy. In addition, it discusses the role, importance and the future of economic diplomacy for Kosovo, vis a vis challenges and opportunities. It analysis the level of the use of economic diplomacy in the region, as well as presents data concerning Kosovo trade with world during the period 2004-2014. Finally it offers a number of recommendations for economic development in relations to economic diplomacy and concludes that success of the economic diplomacy largely depends on active, creative and proactive leadership as well as shrewd decison making.

  13. 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.

  14. THE RELATIONSHIP BETWEEN HEALTH AND GROWTH IN EURASIAN ECONOMIC UNION

    Directory of Open Access Journals (Sweden)

    Ayhan Kuloglu

    2016-11-01

    Full Text Available This paper examines the long run and causal relationship between health expenditures and economic growth in the in Eurasian Economic Union over the period 1995-2014. For this examination, panel cointegration and causality methodologies are utilized. Cointegration results which obtained from Pedroni and Kao tests support an evidence of a long run relationship among the variables under investigation. Long run elasticities indicate that health expenditures affect growth positively. Causality results, on the other side, provide a strong support of a bidirectional running between health expenditures and economic growth both in the short and in the long run.

  15. Population growth and economic development revisited with reference to Asia.

    Science.gov (United States)

    Jha, S C; Deolalikar, A B; Pernia, E M

    1993-01-01

    "This article takes another look at the old issue of population growth and economic development in the context of recent developments and with the benefit of the increasing stock of knowledge on the subject. It first presents a demographic perspective; then it analyzes the implications of population growth with respect to such integral aspects of economic development as human capital accumulation, income distribution and poverty, the environment, and sustainable economic growth. The approach in each case is to review the theoretical considerations, survey the empirical evidence, and then draw policy implications. An overall conclusion with implications for policy caps the paper." The geographical focus is on Asia.

  16. MEASURING ECONOMIC GROWTH FROM OUTER SPACE

    Science.gov (United States)

    Henderson, J. Vernon; Storeygard, Adam; Weil, David N.

    2013-01-01

    GDP growth is often measured poorly for countries and rarely measured at all for cities or subnational regions. We propose a readily available proxy: satellite data on lights at night. We develop a statistical framework that uses lights growth to augment existing income growth measures, under the assumption that measurement error in using observed light as an indicator of income is uncorrelated with measurement error in national income accounts. For countries with good national income accounts data, information on growth of lights is of marginal value in estimating the true growth rate of income, while for countries with the worst national income accounts, the optimal estimate of true income growth is a composite with roughly equal weights. Among poor-data countries, our new estimate of average annual growth differs by as much as 3 percentage points from official data. Lights data also allow for measurement of income growth in sub- and supranational regions. As an application, we examine growth in Sub Saharan African regions over the last 17 years. We find that real incomes in non-coastal areas have grown faster by 1/3 of an annual percentage point than coastal areas; non-malarial areas have grown faster than malarial ones by 1/3 to 2/3 annual percent points; and primate city regions have grown no faster than hinterland areas. Such applications point toward a research program in which “empirical growth” need no longer be synonymous with “national income accounts.” PMID:25067841

  17. Resource constraint, sustainable economic growth pattern and transformation of economic system in China

    Institute of Scientific and Technical Information of China (English)

    Wang Yafei; Huang Xiaojun

    2007-01-01

    Over the past 20 years, China has made spectacular achievements in economic growth as well as in the transformation of economic growth pattern. Industrial structure is being updated, and technology is playing a more and more important role in economic development. The energy and resource consumption in many industries and enterprises are reducing. However, we should realize that there are still many problems in changing the economic growth pattern,such as high input, high consumption, high discharge, inharmony, recycling difficulty, and low efficiency, which have greatly impaired and restrict Chinese economic development. Therefore, the fundamental change of the economic growth pattern is inevitable. Based on the analysis on the status quo and the exploit of resources, this paper suggests that the transformation from unsustainable to sustainable growth is the only choice in changing the economic growth pattern. In addition, the transformation should not completely rely on the fundamental effects of market mechanism. We should make full use of the power of governments to speed up the transformation of economic system.

  18. Inflation and Economic Growth in China: An Empirical Analysis

    Institute of Scientific and Technical Information of China (English)

    Jen- Te Hwang; Ming-Jia Wu

    2011-01-01

    Using official provincial data for gross provincial product, consumer price index and other explanatory variables from 1986 to 2006, the present paper investigates the nonlinear effects of inflation on economic growth in China. The main finding of the study is that the inflation threshold effect is highly significant and robust in China. Above the 2.50percent threshold, every 1-percentage point increase in the inflation rate impedes economic growth by O. 61percent; below this threshold, every 1-percentage point increase in the inflation rate stimulates growth by 0.53 percent. This indicates that high inflation harms economic growth, whereas moderate inflation benefits growth. We suggest that China should maintain a moderate inflation rate for long-run growth.

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

    Directory of Open Access Journals (Sweden)

    Adekoya Adenuga Fabian

    2017-03-01

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

  20. Agriculture and economic growth in Ethiopia: growth multipliers from a four-sector simulation model

    OpenAIRE

    1999-01-01

    Agriculture accounts for over half of Ethiopian GDP, yet the case for agriculture as a focus of economic growth strategies must rely on identifying a set of intersectoral linkages through which agricultural growth contributes to the growth of nonagriculture in the Ethiopian economy. This article develops a four-sector numerical simulation model of economic growth in Ethiopia which permits the calculation of macroeconomic growth multipliers resulting from income shocks to agriculture, services...

  1. Population Growth, (Per Capita) Economic Growth, and Poverty Reduction in Uganda: Theory and Evidence

    OpenAIRE

    Stephan Klasen

    2005-01-01

    This paper examines the link between population and per capita economic growth in Uganda. After showing that Uganda has one of the highest population growth rates in the world which, due to the inherent demographic momentum, will persist for some time to come, it then considers the impact of population growth on per capita economic growth. It finds that both theoretical considerations as well as strong empirical evidence suggest that the currently high population growth puts a considerable br...

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

    Directory of Open Access Journals (Sweden)

    Klimis Vogiatzoglou

    2016-11-01

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

  3. Electricity Consumption-Economic Growth Nexus: The Ghanaian Case

    Directory of Open Access Journals (Sweden)

    Philip Kofi Adom

    2011-01-01

    Full Text Available Research into the electricity-economic growth nexus has important implications for energy conservation measures and environmental policy. However, results from the energy-economic growth nexus have been mixed in the literature on Ghana. This posses serious problems for the country’s energy policy. Much research is thus, required to establish the direction of causality between energy and economic growth. Nonetheless, less evidence is available for Ghana. It is against this background that this study seeks to investigate the direction of causality between a type of energy, electricity, and economic growth to add to the existing argument in the literature. The Toda and Yomamoto Granger Causality Test was used to carry out the test of causality between electricity consumption and economic growth from 1971 to 2008. The results obtained herein revealed that there exists a unidirectional causality running from economic growth to electricity consumption. Thus, data on Ghana supports the Growth-led-Energy Hypothesis. The results imply that electricity conservation measures are a viable option for Ghana.

  4. Peak oil, economic growth, and wildlife conservation

    CERN Document Server

    Gates, J Edward; Czech, Brian

    2014-01-01

    The proposed book focuses on one of the most important issues affecting humankind in this century - Peak Oil or the declining availability of abundant, cheap energy-and its effects on our industrialized economy and wildlife conservation. Energy will be one of the defining issues of the 21st Century directly affecting wildlife conservation wherever energy extraction is a primary economic activity and indirectly through deepening economic recessions. Since cheap, abundant energy has been at the core of our industrial society, and has resulted in the technological advancements we enjoy today, the

  5. A New Economic Growth Option for China

    Institute of Scientific and Technical Information of China (English)

    Lusine Ghazaryan

    2005-01-01

    @@ The last decades of the 20th century have rep resented a turning point in the global development process. It is knowledge and/or technology that has changed the world's development course and has become the engine of social, economic and cultural development in every country. The role of knowledge and information in economic activity is now so great that it is inducing quite profound structural and qualitative changes in the operation of the economy and transforming the basis of comparative advantage of the countries.

  6. Relationship Among Reserve Ratio, Government Spending and Economic Growth

    Institute of Scientific and Technical Information of China (English)

    ZHANG Yan; ZHOU Sheng-Wu

    2005-01-01

    The relationship among reserve ration, government spending and economic growth was analyzed. A monetary endogenous growth model is well developed by taking into account the growth-enhancing effects of reserve-augmenting seigniorage. If the government spends all the seigniorage revenue on the provision of a public input which has positive externality on the private sector's production, some results to be utterly different from Bronx's have been obtained: the economy has a unique saddle-balanced growth path, but it has nothing to do with reserve ratio. However, the higher reserve ratio, the faster speed of economic convergence.

  7. Health and Economic Growth in South East, Nigeria

    African Journals Online (AJOL)

    info

    Health can be the source of economic growth, just as wealth can enhance health ..... scheme. In the compulsory health insurance option, everyone has to contribute some money. .... A history of Igbo people, London: The Macmillan Press Ltd.

  8. REMMITTANCES, BANKING SECTOR DEVELOPMENT AND ECONOMIC GROWTH IN FIJI

    Directory of Open Access Journals (Sweden)

    Janesh Sami

    2013-04-01

    Full Text Available This study examines the role of remittances and economic growth in banking sector development in Fiji using annual data from 1980-2010. This study finds evidence of long run relationship between banking sector development, remittances and economic growth using bounds testing procedure developed by Pesaran et al. (2001. In addition, our causality analysis based on vector error correction model (VECM and Toda Yamamoto Granger Non Causality test (1995 suggest that there is causality from economic growth and remittances to banking sector development. The study indicates that remittances inflows may not be only important for economic growth but also for development of banking sector. It is thus, important for policymakers to ensure that remittances flow through formal channels.

  9. 109 Dynamics of Governance, Investment and economic Growth in ...

    African Journals Online (AJOL)

    SIPHAMBE, H.K. (PROF.)

    spanning 1970 – 2006 empirically examines the pattern of domestic .... government expenditure (Cooray, 2009; and Vasquez et al, 2005). Blejer and ..... and growth: Evidence from Malaysia‖, Journal of Development Economics, 84, 215-233.

  10. Framework for Creating a Smart Growth Economic Development Strategy

    Science.gov (United States)

    This step-by-step guide can help small and mid-sized cities, particularly those that have limited population growth, areas of disinvestment, and/or a struggling economy, build a place-based economic development strategy.

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

    Energy Technology Data Exchange (ETDEWEB)

    Apergis, Nicholas [Department of Banking and Financial Management, University of Piraeus, Karaoli and Dimitriou 80, Piraeus, ATTIKI 18534 (Greece); Payne, James E. [Interim Dean and Professor of Economics, College of Arts and Sciences, Illinois State University, Normal, IL 61790-4100 (United States)

    2010-05-15

    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. (author)

  12. Electricity consumption and economic growth, the case of Lebanon

    Energy Technology Data Exchange (ETDEWEB)

    Abosedra, Salah; Dah, Abdallah [Lebanese American University, Beirut Campus, P.O. Box: 13-5053 Chouran, Beirut 1102 2801 (Lebanon); Ghosh, Sajal [Management Development Institute, Gurgaon (India)

    2009-04-15

    In this paper we investigate the causal relationship between electricity consumption and economic growth for Lebanon, using monthly data for Lebanon covering the period January 1995 to December 2005. Empirical results of the study confirm the absence of a long-term equilibrium relationship between electricity consumption and economic growth in Lebanon but the existence of unidirectional causality running from electricity consumption to economic growth when examined in a bivariate vector autoregression framework with change in temperature and relative humidity as exogenous variables. Thus, the policy makers in Lebanon should place priority in early stages of reconstruction on building capacity additions and infrastructure development of the electric power sector of Lebanon, as this would propel the economic growth of the country. (author)

  13. Public and Private Investment and Economic Growth in Namibia ...

    African Journals Online (AJOL)

    to a redefinition of its role in the development process in many countries, under the guiding ...... Private Investment in Latin America, Economic Development and Cultural .... Does public investment enhance productivity growth in Mexico? A.

  14. growth performance, yields and economic benefits of nile tilapia ...

    African Journals Online (AJOL)

    Mgina

    integration in the growth, yields and economic benefits of fish and vegetables. Two 200 m2 ... of their environmental effects (e.g. pollution) and ... enterprises, diversity in produce and their environmental ..... The Freshwater Algae Flora of the.

  15. Double Digit Economic Growth vs. Social Wellbeing in Ethiopia: A ...

    African Journals Online (AJOL)

    evidence of economic growth enhancing social wellbeing in Ethiopia. ..... However, such improvement is not unique to Ethiopia alone as it is observed in the other three ... universe except the information contained in the time series variable.

  16. The balance of payment-constrained economic growth in Ethiopia ...

    African Journals Online (AJOL)

    The balance of payment-constrained economic growth in Ethiopia. ... According to the model, economies only grow at a pace allowed by the constraints ... and technological progress along with the other significant factors such as sound ...

  17. Building Regional Economic Growth and Innovation Capacity

    Science.gov (United States)

    Rafn, H. Jeffrey

    2012-01-01

    Like many states at the turn of the century, Wisconsin was faced with a multibillion-dollar deficit due to a sagging economy brought on by the dotcom bubble burst and the economic impact of the 9/11 terrorist attack on the World Trade Center. As the state legislature grappled with the budget crisis, blame was freely assigned. The state was at…

  18. 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

  19. Financial Market Liberalization and Economic Growth

    NARCIS (Netherlands)

    G.A. Garita (Gus)

    2008-01-01

    textabstractThe literature has shown that it is hard to …find unambiguous evidence that financial openness yields an improvement in economic performance, particularly at the macro level. One of the major problems in empirical work is the bundling of …financial openness with a potential host of other

  20. Building Regional Economic Growth and Innovation Capacity

    Science.gov (United States)

    Rafn, H. Jeffrey

    2012-01-01

    Like many states at the turn of the century, Wisconsin was faced with a multibillion-dollar deficit due to a sagging economy brought on by the dotcom bubble burst and the economic impact of the 9/11 terrorist attack on the World Trade Center. As the state legislature grappled with the budget crisis, blame was freely assigned. The state was at…

  1. Does Political Ideology Affect Economic Growth?

    DEFF Research Database (Denmark)

    Bjørnskov, Christian

    2005-01-01

    their political ideology, affect economic performance. The paper presents evidence suggesting that rightwing societies have grown faster in the last decades than other democratic societies. Further analysis suggests that these societies develop better legal systems and less government intervention, which in turn...

  2. Economic development, growth, institutions and geography

    NARCIS (Netherlands)

    Bhupatiraju, S.; Verspagen, B.

    2013-01-01

    In this paper, we test the Rodrik et al (2004) framework to explain differences in development levels across countries by using a broader set of definitions for institutions, geography and economic variables. We use a multi-faceted database to measure institutions in an attempt to go beyond the sing

  3. Internationalisation and Economic Growth: The Portuguese Case

    Science.gov (United States)

    da Costa, Renato J. Lopes; António, Nélson J. Santos; Miguel, Maria Isabel

    2017-01-01

    Historically, a policy of enforcement in internationalisation processes is still seen by many as an approach to solve certain economic crises. However, Portugal's solution for this problem is part of a greater problem, namely trying to solve a European problem that has recently worsened and is largely uncontrolled. This paper aims to contribute,…

  4. Power Price Cuts to Drive Economic Growth

    Institute of Scientific and Technical Information of China (English)

    Ma Lei

    2002-01-01

    @@ The economy of South China's Guangdong Province should developed more rapidly thanks to recent cuts in electricity prices, Lin Lin, deputy director of Guangdong Price Bureau, predicted in an interview with news media in early June, adding that the reduction in electricity prices would benefit economic development in Guangdong Province.

  5. Teaching Economic Growth Theory with Data

    Science.gov (United States)

    Elmslie, Bruce T.; Tebaldi, Edinaldo

    2010-01-01

    Many instructors in subjects such as economics are frequently concerned with how to teach technical material to undergraduate students with limited mathematical backgrounds. One method that has proven successful for the authors is to connect theoretically sophisticated material with actual data. This enables students to see how the theory relates…

  6. Education and Economic Growth in India

    Science.gov (United States)

    Goel, S. C.

    1974-01-01

    Article focused on the relationship between the levels of educational development at the primary, secondary and tertiary levels, on the one hand, and economic development, as measured by the per capita income at current prices on the other, in India during the period 1950-51 to 1970-71. (Author/RK)

  7. Economic Growth in Croatia: Potential and Constraints

    Directory of Open Access Journals (Sweden)

    Athanasios Vamvakidis

    2008-03-01

    Full Text Available This paper examines the factors and constraints that affect recent and potential growth in Croatia, as well as policies that can influence it. On current productivity trends, it estimates Croatia’s potential growth rate at 4–4½ percent, a result reasonably robust to different methodologies. For growth to be sustained at a significantly higher rate, the business environment needs to be improved through further measures to reduce the administrative burden, legal uncertainties, and corruption. The analysis also emphasizes the importance of attracting more greenfield foreign direct investment, and reforms to reduce the role of the state in the economy through fiscal consolidation and faster privatization.

  8. Economic Growth and Labour Market in Cameroon

    OpenAIRE

    Urbain Thierry YOGO

    2007-01-01

    How do Growth affects labor market’s work? This question is important, because, labor market plays a key role in determining the success of poverty reduction policies. Using the times series data, we have been able to confirm the prediction of theory which present a positive effect of growth on the labor market’s work. However, this effect is not strong, and calls to the reinforcement of growth and the set up of pro investment incentives as well as in the level of good and knowledge productio...

  9. Restrictive Factors for Economic Growth in Developing Countries

    OpenAIRE

    Bucur Ion; Bucur Cristian

    2013-01-01

    Economic growth reflects the ability of an economy to produce more goods, in the structure and quality demanded by consumers. Growth influence decisive the existing living standard in a country. Developing countries are characterized in a greater extent than developed countries by insufficient financial resources designed both to increase the volume of investment resources and their efficient use. Increasing economic resources requires investments and lead to increased production.

  10. Which economic freedoms contribute to growth? A comment

    NARCIS (Netherlands)

    Sturm, J.E.; Leertouwer, E.; de Haan, J.

    2002-01-01

    Most studies on the relationship between economic freedom and growth employ a measure of economic freedom based on an (ad hoc) aggregation of various underlying components. We argue that the alternative aggregation procedure as recently suggested by Heckelman and Stroup (2000) - in which aggregation

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

    Directory of Open Access Journals (Sweden)

    Camelia MORARU

    2013-12-01

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

  12. Growth indices and economic implications of weaned rabbits fed ...

    African Journals Online (AJOL)

    Growth indices and economic implications of weaned rabbits fed Leucaena ... the 13.47g weight gain on rabbits fed the control diet but statistically (P<0.05) lower ... economic efficiency of 0.35 and 194.44%, respectively indicated the optimal ...

  13. When growth is empty: towards an inclusive economics

    NARCIS (Netherlands)

    Pouw, N.R.M.

    2011-01-01

    The pursuit of endless growth and the ensuing global financial crisis have eroded public trust in economic policy. As a result, an increasing number of economists are advocating a more inclusive global economy. The global financial crisis has exposed the weaknesses of the liberalized economic system

  14. State Investment in Universities: Rethinking the Impact on Economic Growth

    Science.gov (United States)

    Schalin, Jay

    2010-01-01

    Does investing taxpayer money in higher education lead to major payoffs in economic growth? State legislators and policy makers say yes. They routinely advocate massive appropriations for university education and research, even in poor economic times, on the grounds that taxpayers will be rewarded many times over. The investment of federal funds…

  15. Economic Growth and Regional Integration in Mexico

    National Research Council Canada - National Science Library

    D Shepherd; R Muñoz Torres; M A Mendoza

    2017-01-01

      In this paper we examine the regional structure of output growth, volatility and prosperity in Mexico, focusing in particular on the degree of integration between both the regions and the individual...

  16. 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.

  17. Dispersion of Human Capital and Economic Growth

    OpenAIRE

    Jungsoo Park

    2004-01-01

    Based on a theoretical consideration of human capital production technology, this study empirically investigates the growth implication of dispersion of population distribution in terms of educational attainment levels. Based on a pooled 5-year interval time-series data set of 94 developed and developing countries for 1960 to 1995, the study finds that dispersion index as well as average index of human capital positively influences productivity growth. Given limited social resources for human...

  18. 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 que......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...

  19. 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.

  20. 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. PMID:23152817

  1. 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.

  2. LOCATION AND ECONOMIC GROWTH:CASE STUDY IN CHINA

    Institute of Scientific and Technical Information of China (English)

    ZHONG Chun-ping

    2004-01-01

    This paper explores how location could affect economic growth and it has always been omitted in economic analysis. Geographic factors can affect economic activities. Three mechanisms of location affecting economic growth have been studied: consumption, production and migration. The initial superior location will take such advantages as lower transport costs and lower price level, so it could have higher consumption utility, higher productivity, and attract more human capital, then lead higher growth. Those regions with the superior location will have higher utility due to more product varities and the comparative lower price, and higher wage due to the production technology, and it would attract more individuals with higher human capital to move to this location. It is a kind of agglomeration, meaning the superior location will hold more advantages and higher growth rate, otherwise those locations with poor geographic factor will be even worse. Based on Chinese provincial economic growth experiences of these years, this paper does some empirical analysis by regressing on some variables including the geographic ones. In this paper, the dummy variables and population density are used to measure the location factor. And we find evidences supporting the view that dominant locations such as coastal areas grow faster, on the contrary,middle and western provinces grow slower. Location does affect economic growth.

  3. Mineral resources and constraints on China’s economic growth

    Institute of Scientific and Technical Information of China (English)

    李钢; 陈志; 崔云

    2009-01-01

    This article conducts an empirical study of how access to mineral resources can constrain China’s economic growth.The authors reckon that due to the relatively low price elasticity of supply and demand in relation to mineral resources over the short run,access to mineral resources places pronounced constraints on economic growth in the short run,but only marginal constraints on economic growth in the long run.This split is the result of alternate resource substitution and technological progress.In this article,the authors have calculated the actual effects of access to mineral resources on China’s economic growth using 2001-2006 mineral resource import and export data.The results of these calculations show that,in the short run,access to mineral resources is increasingly placing constraints on China’s economic growth.The value of these constraints rose from 4.96% of GDP in 2006 to 5.74% of GDP in 2007 (estimated).Contrastingly,in the long run,the constraints that access to mineral resources place on China’s economic growth are quite limited at approximately 0.23% of GDP.

  4. 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.

  5. 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

  6. Empirical Analysis of the Impact of Foreign Exchange Reserves to Economic Growth in Emerging Economics

    OpenAIRE

    2015-01-01

    In this paper we analyzed the effect of the accumulation of foreign exchange reserves to economic growth in emerging countries. In order to empirical estimates of the impact of foreign exchange reserves to economic growth in emerging countries, were collected annual data on real GDP per capita, share of investment in GDP and population from the database of the International Monetary Fund (IMF WEO) in October 2013, while data from the level of foreign exchange reserves statistics collected fro...

  7. 150 Years of Italian CO2 Emissions and Economic Growth

    DEFF Research Database (Denmark)

    Annicchiarico, Barbara; Bennato, Anna Rita; Chini, Emilio Zanetti

    This paper examines the relationship between economic growth and carbon dioxide emissions in Italy considering the developments in a 150-year time span. Using several statistical techniques, we find that GDP growth and carbon dioxide emissions are strongly interrelated, with a dramatic change of ...

  8. How laypeople and experts misperceive the effect of economic growth

    NARCIS (Netherlands)

    Christandl, Fabian; Fetchenhauer, Detlef

    2009-01-01

    A series of four experiments were performed to examine the accuracy of estimations of economic growth by both experts and lay people, the factors that influence the accuracy of their estimations, and which procedures they use to make estimations. The results show that for actual growth rates higher

  9. 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.

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

    Science.gov (United States)

    Bilal, Usama; Cooper, Richard; Abreu, Francis; Nau, Claudia; Franco, Manuel; Glass, Thomas A

    2017-08-01

    In the 20th century, periods of macroeconomic growth have been associated with increases in population mortality. Factors that cause or mitigate this association are not well understood. Evidence suggests that social policy may buffer the deleterious impact of economic growth. We sought to explore associations between changing unemployment (as a proxy for economic change) and trends in mortality over 30 years in the context of varying social protection expenditures. We model change in all-cause mortality in 21 OECD (Organization for Economic Cooperation and Development) countries from 1980 to 2010. Data from the Comparative Welfare States Data Set and the WHO Mortality Database were used. A decrease in the unemployment rate was used as a proxy for economic growth and age-adjusted mortality rates as the outcome. Social protection expenditure was measured as percentage of gross domestic product expended. A 1% decrease in unemployment (i.e. the proxy for economic growth) was associated with a 0.24% increase in the overall mortality rate (95% confidence interval: 0.07;0.42) in countries with no changes in social protection. Reductions in social protection expenditure strengthened this association between unemployment and mortality. The magnitude of the association was diminished over time. Our results are consistent with the hypothesis that social protection policies that accompany economic growth can mitigate its potential deleterious effects on health. Further research should identify specific policies that are most effective.

  11. Stock Market and Sustainable Economic Growth in Nigeria

    Directory of Open Access Journals (Sweden)

    Erasmus L Owusu

    2016-11-01

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

  12. Towards a solidarity economy zakat Decrease poverty vs economic growth

    Directory of Open Access Journals (Sweden)

    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.

  13. Self-Serving Dictators and Economic Growth

    NARCIS (Netherlands)

    Haile, D.; Sadrieh, A.; Verbon, H.A.A.

    2003-01-01

    A new line of theoretical and empirical literature emphasizes the pivotal role of fair institutions for growth.We present a model, a laboratory experiment, and a simple cross-country regression supporting this view.We model an economy with an unequal distribution of property rights, in which individ

  14. Economic analysis of crystal growth in space

    Science.gov (United States)

    Ulrich, D. R.; Chung, A. M.; Yan, C. S.; Mccreight, L. R.

    1972-01-01

    Many advanced electronic technologies and devices for the 1980's are based on sophisticated compound single crystals, i.e. ceramic oxides and compound semiconductors. Space processing of these electronic crystals with maximum perfection, purity, and size is suggested. No ecomonic or technical justification was found for the growth of silicon single crystals for solid state electronic devices in space.

  15. South Africa: poised for economic growth

    Energy Technology Data Exchange (ETDEWEB)

    Zuma, J. (African National Congress (South Africa))

    1993-01-01

    South Africa is now emerging from the period of Apartheid. Elections will be held soon, but the economic damage caused by Apartheid has to be rectified. Partly this will be through an industrial strategy, and the minerals industry will play its part. The coal mining industry provides a large proportion of South Africa's exports and 90% of electricity. It is also the basis of a synfuels industry. The coal industry will continue to be an important source of exports, either directly, or as the provider of power to energy intensive industries such as aluminium production.

  16. 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.

  17. Electricity consumption and economic growth nexus in Bangladesh: Revisited evidences

    Energy Technology Data Exchange (ETDEWEB)

    Ahamad, Mazbahul Golam, E-mail: mg.ahamad@gmail.com [Research Division, Centre for Policy Dialogue (CPD), House: 40C, Road: 11, Dhanmondi, Dhaka 1209 (Bangladesh); Islam, A.K.M. Nazrul, E-mail: nazrul2002@yahoo.com [Research Division, Centre for Policy Dialogue (CPD), House: 40C, Road: 11, Dhanmondi, Dhaka 1209 (Bangladesh)

    2011-10-15

    In this paper, an attempt is being made to examine the causal relationship between per capita electricity consumption and per capita GDP of Bangladesh using the vector error correction specified Granger causality test to search their short-run, long-run and joint causal relationships for the period of 1971-2008. Empirical findings reveal that there is a short-run unidirectional causal flow running from per capita electricity consumption to per capita GDP without feedback. The presence of a positive short-run causality explains that an increase in electricity consumption directly affects economic activity in Bangladesh. Likewise, results from joint causality exhibit the same as in short-run. By contrast, long-run results show a bi-directional causality running from electricity consumption to economic growth with feedback. These findings can provide essential policy insights to design immediate and long-term growth prospect for Bangladesh keeping in mind its present planned growth strategy and dismal power and energy sector. - Highlights: > Short-run causality running from electricity consumption to economic growth. > Positive SR causality explains electricity generation directly affects economic growth. > For long run, causality runs from electricity consumption to economic growth with feedback. > Joint causality implies the same as in short-run.

  18. FINANCIAL DETERMINANTS OF SMEs GROWTH IN THE TIME OF ECONOMIC

    Directory of Open Access Journals (Sweden)

    Marina Jeger

    2016-12-01

    Full Text Available The importance of high-growth enterprises in national economies has been widely substantiated by economic research in recent years. There are a small number of papers that investigate determinants of growth in the time of economic downturn. This paper is focused on finding financial ratios that are determinants of growth in small and medium-sized enterprises (SMEs which operate in downturn economies. The assumption of this study is that the time of economic downturn sets new challenges to SMEs and that fact should be reflected in their financial statements as well as in the growth prediction model. Our hypotheses have been tested on the sample of 1492 SMEs from Croatia over the period 2008-2013 in the time of economic downturn. Using logistic regression, a growth prediction model has been developed and tested. Results have shown that in the time of economic downturn, growth potential of SMEs increases with the increase of liquidity, turnover and profitability and with the decrease of leverage.

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

    Directory of Open Access Journals (Sweden)

    Philip Chimobi Omoke

    2012-04-01

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

  20. Do Corruption and Social Trust affect Economic Growth? A Review

    DEFF Research Database (Denmark)

    Serritzlew, Søren; Sønderskov, Kim Mannemar; Svendsen, Gert Tinggaard

    2014-01-01

    Two separate literatures suggest that corruption and social trust, respectively, are related to economic growth, although the strengths of the relationships, and the direction of causality, are still debated. In this paper, we review these literatures and evaluate the evidence for causal effects...... of corruption and trust on economic growth, and discuss how corruption and trust are interrelated. The reviews show that absence of corruption and high levels of social trust foster economic growth. The literatures also indicate that corruption has a causal effect on social trust, while the opposite effect...... is more uncertain. In the conclusion, we offer the suggestion that fighting corruption may yield a “double dividend”, as reduced corruption is likely to have both direct and indirect effects on growth....

  1. Do Corruption and Social Trust affect Economic Growth? A Review

    DEFF Research Database (Denmark)

    Serritzlew, Søren; Sønderskov, Kim Mannemar; Svendsen, Gert Tinggaard

    2014-01-01

    Two separate literatures suggest that corruption and social trust, respectively, are related to economic growth, although the strengths of the relationships, and the direction of causality, are still debated. In this paper, we review these literatures and evaluate the evidence for causal effects...... of corruption and trust on economic growth, and discuss how corruption and trust are interrelated. The reviews show that absence of corruption and high levels of social trust foster economic growth. The literatures also indicate that corruption has a causal effect on social trust, while the opposite effect...... is more uncertain. In the conclusion, we offer the suggestion that fighting corruption may yield a “double dividend”, as reduced corruption is likely to have both direct and indirect effects on growth....

  2. Back to oil: Indonesia economic growth after Asian financial crisis

    Directory of Open Access Journals (Sweden)

    Heru Iswahyudi

    2016-04-01

    Full Text Available This paper examines the growth experience of Indonesia in the years before and after the Asian financial crisis. Particular attention is paid to the relationship between economic growth and petroleum sector’s total factor productivity (TFP. It finds the possibility that post-crisis Indonesian economic growth has ‘recoupled’ with petroleum sector’s TFP – fluctuations in petroleum TFP is directly correlated with fluctuations in economic growth. Further, although keeping Indonesia’s petroleum sector open to fair competition should be the prime policy, the fact regarding resource nationalism might need to be taken into account in designing the policy to develop the productivity of Indonesia’s petroleum sector.

  3. CURRENT ACCOUNT DEFICIT AND ECONOMIC GROWTH IN ARMENIA

    Directory of Open Access Journals (Sweden)

    Arus Tunian

    2015-07-01

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

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

    Directory of Open Access Journals (Sweden)

    Steven Sorrell

    2010-06-01

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

  5. The Analysis of Economic Growth Cycle in Henan Province

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    According to the data of practical GDP time sequences from 1978 to 2009 provided by Henan Statistical Yearbook of every year,Hodrick-Prescott filter model is established,and it is disintegrated into tendency component(potential yield)and fluctuation component(yield gap).The critical division loci of filter model are 4 wave crest years(1980,1988,1996 and 2007),and 3 trough years(1984,1992 and 2002).Thus since the opening up and reform,the economic growth fluctuation of Henan can be divided into 3 complete cycles and 2 incomplete cycles.Based on the economic situation and background within and without province,we preliminarily conclude the stage-characteristics of all growth cycles and the probable reasons of fluctuation.On the whole,the economic growth cycle of Henan takes on astringency to some extent,and sustainability and stability are reinforced,showing the characteristics of growth-type cycle increasingly.

  6. THE MACROECONOMIC DRIVERS OF ECONOMIC GROWTH IN MALAWI

    Directory of Open Access Journals (Sweden)

    Themba G. Chirwa

    2015-06-01

    Full Text Available This paper examines the main macroeconomic drivers of economic growth in Malawi. The drivers are identified by examining the various development plans and reforms that Malawi implemented during the period 1970-2011. The examination concludes that the main macroeconomic drivers of economic growth in Malawi during this period were the accumulation of physical capital, human capital development, international trade, inflation and the real exchange rate. The examination also shows that country-specific development policies and institutions are important in identifying and influencing the macroeconomic factors of growth. Although Malawi has been able to identify the factors that would contribute to sustainable economic growth in its development policies, these factors were influenced by a number of structural challenges, such as low investment rates, inadequate investment in human capital, balance-of-payment problems, macroeconomic instability, and frequent policy reversals in the implementation of macroeconomic reforms.

  7. Linking Ethics and Economic Growth: a Comment on Hunt

    Directory of Open Access Journals (Sweden)

    Nicolai J. Foss

    2012-08-01

    Full Text Available 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 example, the influence of prevailing ethical norms on the aggregate elasticity of substitution and, therefore, total factor productivity and growth.

  8. Does Hunger Contribute to Socioeconomic Gradients in Behavior?

    Science.gov (United States)

    Nettle, Daniel

    2017-01-01

    Recent research has uncovered many examples of socioeconomic gradients in behavior and psychological states. As yet there is no theoretical consensus on the nature of the causal processes that produce these gradients. Here, I present the hunger hypothesis, namely the claim that part of the reason that people of lower socioeconomic position behave and feel as they do is that they are relatively often hungry. The hunger hypothesis applies in particular to impulsivity-hyperactivity, irritability-aggression, anxiety, and persistent narcotic use, all of which have been found to show socioeconomic gradients. I review multiple lines of evidence showing that hunger produces strong increases in these outcomes. I also review the literatures on food insufficiency and food insecurity to show that, within affluent societies, the poor experience a substantial burden of hunger, despite obtaining sufficient or excess calories on average. This leads to the distinctive prediction that hunger is an important mediator of the relationships between socioeconomic variables and the behavioral/psychological outcomes. This approach has a number of far-reaching implications, not least that some behavioral and psychological differences between social groups, though persistent under current economic arrangements, are potentially highly reversible with changes to the distribution of financial resources and food. PMID:28344567

  9. Human Capital, Fertility, and Economic Growth

    OpenAIRE

    Gary S. Becker; Murphy, Kevin M.; Robert F. Tamura

    1990-01-01

    Our model of growth departs from both the Malthusian and neoclassical approaches by including investments in human capital. We assume, crucially, that rates of return on human capital investments rise, rather than, decline, as the stock of human capital increases, until the stock becomes large. This arises because the education sector uses human capital note intensively than either the capital producing sector of the goods producing sector. This produces multiple steady scares: an undeveloped...

  10. The effect of population growth in China in the course of economic growth.

    Science.gov (United States)

    Zhang, S

    1993-01-01

    The interaction of population and economic growth in China was analyzed between 1953 and 1989. The principle index for population-economic growth was differential per capita income, or income exceeding the basic minimum standard of living. Population growth occurred when per capita income was higher than the standard up to a threshold level, after which population declined. Rapid population growth decreased differential per capital income. Differential per capita income was considered the better measure of the interaction between economic conditions and population growth. Time-series differential per capita income measures were provided annually. Differential income per capita was accounted for by differential per capita investment, marginal productiveness of differential per capital investment, and labor force input on differential per capita income. Measures accounted for a constant tariff and labor productivity. The results showed the depletion effect on national income from increased population growth. Prior to 1978, the economic depletion in China was due to the impact of the marginal population and, after 1978, the depletion was due to increased consumption. Income increased from 2.53 yuan in 1953 to 8.64 in 1989; the average annual growth of the per capita consumption level increased from 2.1% between 1966 and 1973 to 8.7% by 1989. The depletion intensity of population growth on differential per capita income varied with population growth rates; it tended to fall over time, but differential per capita income would not be reduced to zero or a "low level income trough." The blockage of economic growth from population growth was evidenced in 13 specific years. The average coefficient between 1953 and 1989 was 0.58, which indicated that the blockage effect from population growth was less than the impetus effect of economic growth, but still high enough to offset rapid economic growth. Graphing the interaction between differential income growth and population

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

    Directory of Open Access Journals (Sweden)

    Marinko Škare

    2016-08-01

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

  12. 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.

  13. INNOVATION: A STRATEGIC OPTION FOR FUTURE ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Popa Ion

    2014-07-01

    Full Text Available The purpose of the current article is that of highlighting the importance and actuality of innovation in spurring economic growth. This empirical study analyses the concept of innovation and suggests it as a viable strategic option for increasing productivity and performance and for fostering a sustainable economic growth, especially in the current context, in which even the more developed countries took a big hit from the global economic crisis (manifested through an array of negative effects, the most noticeable one being the contraction of the gross domestic product through negative growth rates of the GDP. The results show that any worldwide economy could strongly benefit from boosting economic growth through innovation, and that this subject needs to be treated, not only as a solid solution for overcoming the effects of the economic crisis, but also as a prevention instrument, to make sure that the recession never reaches the degree it has in the past. The global economic crisis, which officially started in 2008, according to many specialists, was mainly caused by the crisis which started in the United States of America, which created a domino effect worldwide. The effects of this crisis created the greatest recession since the Second World War, causing: credit freezes, job loss, bankruptcy, low liquidities, increased unemployment, political and social strains and many other issues in the society. In this situation, in order to “re-launch” the national economies of the affected countries, the best solution is to foster economic growth through innovation, regardless of the type of innovation (managerial/technological/radical/incremental. The central point is to use innovation as a tool/instrument that will hopefully prevent another global economic crisis. That being said, companies, economies and societies need to transform into more knowledge-based ones, thus fostering innovation and providing new ways/methods of acting in a

  14. Knitting Industry: Economic Growth and Trade Fair

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    Generally speaking, everything has its own plan or target for the whole year. Half year gone, we need to review what was done in the past, and reshape what is to be structured in the second half. According to the statistics, economy in knitting industry shows the growth tendency in production, investment and export in the first half year. In order to reach a better level for the second half year, driving consumption through business initiatives and trade platforms is an indispensable step. China International Knitting Trade Fair in August Shanghai will be seen as the best knitting business platform to drive the industry to grow in the desired direction.

  15. Energy consumption, pollutant emissions and economic growth in South Africa

    Energy Technology Data Exchange (ETDEWEB)

    Menyah, Kojo [London Metropolitan Business School, London Metropolitan University (United Kingdom); Wolde-Rufael, Yemane [Independent Researcher (United Kingdom)

    2010-11-15

    This paper examines the long-run and the causal relationship between economic growth, pollutant emissions and energy consumption for South Africa for the period 1965-2006 in a multivariate framework which includes labour and capital as additional variables. Using the bound test approach to cointegration, we found a short-run as well as a long-run relationship among the variables with a positive and a statistically significant relationship between pollutant emissions and economic growth. Further, applying a modified version of the Granger causality test we also found a unidirectional causality running from pollutant emissions to economic growth; from energy consumption to economic growth and from energy consumption to CO{sub 2} emissions all without a feedback. The econometric evidence suggests that South Africa has to sacrifice economic growth or reduce its energy consumption per unit of output or both in order to reduce pollutant emissions. In the long-run however, it is possible to meet the energy needs of the country and at the same time reduce CO{sub 2} emissions by developing energy alternatives to coal, the main source of CO{sub 2} emissions. However, the econometric results upon which the policy suggestions are made should be interpreted with care, as they may not be sufficiently robust enough to categorically warrant the choice of an unpalatable policy option by South Africa. (author)

  16. 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.

  17. China and India: Openness, Trade and Effects on Economic Growth

    Directory of Open Access Journals (Sweden)

    Marelli, Enrico

    2011-06-01

    Full Text Available The purpose of this paper is to analyse the economic growth of China and India in terms of their integration in the global economy. We begin with a discussion of some stylized facts concerning their recent economic growth, the most significant institutional reforms, with particular reference to trade relations, and their impact on their economic development. We then propose a descriptive analysis of economic growth, opening up of the economies and trade specialisation, by comparing the features and trends of the two countries (by considering trade and foreign direct investment data. We have also estimated some econometric relations between economic growth and trade/openness, with the addition of control variables (such as the gross fixed capital formation. We initially used a panel data model for the two countries, to be estimated with fixed effects; to test for reverse causality, we re-estimated the fixed effects model by 2SLS (with the inclusion of specific instrumental variables. The effect on economic growth (in terms of GDP per capita of our variables of interest - Openness and FDI - remains positive and statistically significant in all specifications, which confirms our findings even if we treat these variables as endogenous variables. The results prove the positive growth effects, for the two countries, of opening up and integrating in the world economy. Note that the robust growth of these two "giants" has contained the initial impact of the recent global crisis and is now sustaining the recovery of the entire world economy. Other policy relevant implications are discussed in the concluding section.

  18. Convergence and economic growth in Mexico

    Directory of Open Access Journals (Sweden)

    Alejandro Bautista-Díaz

    2000-01-01

    Full Text Available Recientemente, se ha puesto mucha atención en lo escrito sobre crecimiento económico, el fenómeno de convergencia condicional o la tendencia de las economías regionales con niveles bajos de ingreso a un crecimiento rápido, como condicional en su tasa de acumulación de factores. El estudio utiliza teorías neoclásicas de crecimiento estandarizadas, para obtener la aproximación empírica de la hipótesis de convergencia sobre el capital humano entre los 31 estados y el Distrito Federal en México, utilizando índices de educación. El estudio encuentra que la tasa anual de convergencia de capital humano per cápita en México oscila del 3.55 al 4.58 por ciento. También estima la convergencia de ingreso per cápita condicional en variables de capital humano.

  19. 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.

  20. Competition Policy as a Driver of Economic Growth

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    Rozanova Nadezhda, M.

    2016-03-01

    Full Text Available The paper suggests a concept that in a contemporary economy competition policy becomes a key determinant of economic growth. Different approaches to the study of economic grow are analyzed. A profound and complete review of the relevant literature is made concerning the key problems analysed, including previously elaborated theories and empirical works. This review is done in the context of both academic subjects and various research schools. There made the conclusion that traditional factors of growth in a complex and turbulent post-industrial economy cannot explain many modern phenomena. The typical assumption of free and perfect competition does not work anymore. It is competition policy that could have significant impact on the growth nowadays. The paper contains the results of the original econometric studies aimed at showing the influence of competition and competition policy indicators on GDP growth rate. The results demonstrate statistically significant effects: more competition due to effective competition policy leads to higher growth rates. The recommendations with regard to the Russian competition policy authorities are provided. Actual and urgent problem of economic research based on the investigation of new drivers of economic growth for the Russian economy, usage of contemporary analytical and econometric methods and practical recommendations, these are the main strengths of this paper.

  1. A study on organizational entrepreneurship on economic growth

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    Afsaneh Derakhshandeh

    2013-01-01

    Full Text Available Today, the positive impact of entrepreneurship in the economy has been globally accepted. Entrepreneurs could provide efficient techniques to face with upcoming economic challenges. In this paper, we first investigate the effect of entrepreneurship on growth of economy over the period 2005- 2011. Then we study the impact of four factors including Gross domestic product per worker, Growth in capital per worker, New firm creation and Technological innovation intensity on economic growth. The proposed model of this paper uses ordinary least square technique to investigate the relationship between four independent variables and economic growth. The results show that gross domestic product per worker is the only variable, which is statistically meaningful when the level of significance is five percent and the impact of other three variables including growth in capital per worker, new firm creation and technological innovation intensity are not statistically meaningful. In other word, as we see a 1% increase in gross domestic product per worker we could expect 8.712% increase in economic growth.

  2. Stokes integral of economic growth. Calculus and the Solow model

    Science.gov (United States)

    Mimkes, Jürgen

    2010-04-01

    Economic growth depends on capital and labor and two-dimensional calculus has been applied to economic theory. This leads to Riemann and Stokes integrals and to the first and second laws of production and growth. The mathematical structure is the same as in thermodynamics, economic properties may be related to physical terms: capital to energy, production to physical work, GDP per capita to temperature, production function to entropy. This is called econophysics. Production, trade and banking may be compared to motors, heat pumps or refrigerators. The Carnot process of the first law creates two levels in each system: cold and hot in physics; buyer and seller, investor and saver, rich and poor in economics. The efficiency rises with the income difference of rich and poor. The results of econophysics are compared to neoclassical theory.

  3. Disaggregated productivity growth and technological progress in the interpretation of Spanish economic growth, 1958-1975

    OpenAIRE

    Sanchís Llopis, M. Teresa

    2005-01-01

    Spanish economic records in terms of GDP growth and convergence to European levels in the sixties, provide an excellent opportunity to look at a central question underlying in the interpretation of any process of economic growth. The relevance of industrial specific technological progress is confronted to a general and multifaceted productivity change coming from a variety of sectors and causes. This paper exploits sectoral growth accounting methodology in two different ways in order to answe...

  4. FDI and Economic Growth in Central and Eastern Europe

    Directory of Open Access Journals (Sweden)

    Gheorghe H. Popescu

    2014-11-01

    Full Text Available This paper discusses the major trends in scholarship about the role of FDI and exports on economic growth, the effect of tax policies on FDI, the formation of the economic catch up of the Central and Eastern Europe (CEE region and the determinants of FDI inflows in CEE nations. I am specifically interested in how previous research investigated the influence of FDI on host country economic growth, the inward FDI stock as a percentage of GDP, the features and restrictions of fiscal schemes in CEE economies and the institutional soundness displayed in policies towards FDI. The analysis presented in this paper contributes to research on FDI as a mechanism in the transition to the market, the dissimilarities in the FDI-assisted development methods among the CEE nations, the impact of FDI inflows for productivity convergence in CEE and the current slowing of growth in emerging Europe.

  5. Stock Market Development and Economic Growth. Some Evidence for Argentina

    OpenAIRE

    Luis Lanteri

    2013-01-01

    This paper examines the relationship between stock market development and economic growth in case of Argentina's economy. I apply Granger causality and exogeneity tests based on VEC (vector error correction) models with monthly data covering the period 1993:1-2010:8. The results show that the major stock indices of Buenos Aires Stock Exchange Market (MERVAL25 and BURCAP) Granger cause to the estimator of economic activity (EMAE). In turn, both indices could be considered exogenous variables (...

  6. Financial Liberalization and Economic Growth in Nigeria: An Empirical Evidence

    OpenAIRE

    Anthony Orji; Jonathan E. Ogbuabor; Onyinye I. Anthony-Orji

    2015-01-01

    The liberalization thesis has generated a lot of debate in theoretical and empirical literature. In this paper we construct an index of financial liberalization from 1981 to 2012 to investigate its impact on economic growth in Nigeria using the McKinnon–Shaw framework. The ordinary least squares methodology and cointegration analysis are adopted in the study. The result reveals that financial liberalization (FINDEX) and private investment (PINV) have significant positive impact on economic gr...

  7. Determinants of Economic Growth: Empirical Evidence from Russian Regions

    Directory of Open Access Journals (Sweden)

    Svetlana Ledyaeva

    2008-06-01

    Full Text Available A modification of Barro and Sala-i-Martin empirical framework of growth model is specified to examine determinants of per capita growth in 74 Russian regions during period of 1996-2005. We utilize both panel and cross-sectional data. Results imply that in general regional growth in 1996-2005 is explained by the initial level of region's economic development, the 1998 financial crisis, domestic investments, and exports. Growth convergence between poor and rich regions in Russia was not found for the period studied.

  8. The Dynamic Effects of Entrepreneurship on Regional Economic Growth

    DEFF Research Database (Denmark)

    Matejovsky, Lukas; Mohapatra, Sandeep; Steiner, Bodo

    2014-01-01

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

  9. The Relationship between Credit Market Development and Economic Growth

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    Antonios Adamopoulos

    2010-01-01

    Full Text Available Problem statement: This study investigated the relationship between credit market development and economic growth for Spain for the period 1976-2007 using a Vector Error Correction Model (VECM. Questions were raised whether economic growth spurs credit market development taking into account the negative effect of inflation rate and investments on credit market development. This study aimed to investigate the short-run and the long-run relationship between bank lending, gross domestic product and inflation rate applying the Johansen cointegration analysis. Approach: To achieve this objective classical and panel unit root tests were carried out for all time series data in their levels and their first differences. Johansen cointegration analysis was applied to examine whether the variables are cointegrated of the same order taking into account the maximum eigenvalues and trace statistics tests. Finally, a vector error correction model was selected to investigate the long-run relationship between economic growth and credit market development. Results: A short-run increase of economic growth per 1% induced an increase of bank lending 0.08%, while an increase of inflation rate per 1% induced a relative decrease of bank lending per 0.56% and also an increase of investments rate per 1% induced an increase of bank credits per 0.18% in Spain. The estimated coefficient of error correction term was statistically significant and had a negative sign, which confirmed that there was not any a problem in the long-run equilibrium between the examined variables. Conclusion: The empirical results indicated that economic growth and investment have a positive effect on credit market development, while inflation rate has a negative effect. Bank development was determined by the size of bank lending directed to private sector at times of low inflation rates leading to higher economic growth rates.

  10. Economic Growth of a Rapidly Developing Economy: Theoretical Formulation

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    Oleg Sergeyevich Sukharev

    2016-06-01

    Full Text Available The subject matter of the article is the description of economic growth. Modern economy is characterized by a high rate of changes. These changes are the limiting parameters of modern development, which requires a modification of the basic models of growth, the substantiation of the expediency and necessity of a rapid development strategy. In a simple mathematical form, the statement of the problem of economic growth in the “green economy” is examined, in which the costs of environmental measures are not considered a priori as hampering economic development (as it is common for a number of modern neoclassical and neo-Keynesian growth models. The methodological basis of the article are the econometric approach and modelling method. The article has a theoretical character. The main hypothesis supposes that the rapid development strategy cannot make an adequate development strategy under certain conditions, but may be acceptable in other its specific conditions. In this sense, the important growth conditions are the availability of resources, the effectiveness of institutions and the current economic structure, the technological effectiveness of economy, as well as the conditions of technological development (“green economy” and the path of such development. In the article, on the theoretical level of analysis, the substantiation of the adequacy of the rapid development strategy for an economic system is given, whose goal is to achieve the standard of living of the countryleader. Based on the assumptions introduced, the period for which the rapid development strategy might be implemented and the economic lag of the country might be reduced from the country-leader is determined. The conditions that ensure the impact of innovations on the rate of economic development are summarized. The introduced range of dependencies and relations can be useful for the elaboration of the theory of innovation development and for the formation of a new

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

    Directory of Open Access Journals (Sweden)

    Siniša Bosanac

    2016-12-01

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

  12. TYPOLOGY AND STRUCTURE OF ECONOMIC GROWTH

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    Gheorghe ZAMAN,

    2005-06-01

    Full Text Available The paper proposes and applies a region classification method, within Romania’s economiccomplex, depending on the level and dynamics of regional output indicators (for instance, GDP –industrial production, labour productivity, etc. per capita as compared to the average size onnational economy for a given period of time. There are four types of regions, that is: developedregions in progress; developed regions in decline; underdeveloped regions in progress;underdeveloped regions.The typological categories of development regions in Romania are determined for the period1994–2001 by making use of the GDP per capita level and dynamics at the regions’ level against theaverage on national economy.Based on the indices method we computed the contribution of qualitative factors (labourproductivity and quantitative ones (employed population to the regional per capita GDP and theregional labour productivity, determining the annual average growth required by a underdevelopedregion for leap-frogging in a given time-horizon, the gap separating it from the average level of theanalysed indicator at national level.

  13. The Analysis of International Migration towards Economic Growth

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    Ferdous Alam

    2011-01-01

    Full Text Available Problem statement: This study discusses the analysis of international migration towards economic growth in Bangladesh. International migration refers to the cross-border movement of people from a mother country to a location outside that mother country, with the purpose of taking up higher income employment, better living conditions, higher education get access to civic amenities and conducting a daily existence there for an extended period of time. The exports of labor, human capital, play a major role to minimize the poverty level in Bangladesh. In the last four decades, Bangladesh exports the huge number of labors abroad for economic growth through remittances. Remittances affect poverty eradication most directly by increasing the income of households which have a family member working abroad. Because income from remittances is usually larger than that which could have been earned by migrants they stayed at home. Approach: The aim of this study is to highlight the policy implications for the maximization of international migration and the analysis of economic growth in Bangladesh. The data for analysis is perceived from the secondary sources. The significant manipulations for acquired data are migration of employment and remittances for economic growth in Bangladesh. Results: Migration contributed for the development of macro and micro level in Bangladesh. Conclusion: There would be potential benefits to world's poor if more international attention were focused on integrating migration policy to within the larger global dialogue economic development and poverty reduction. Strong institutions and good policies will enhance the benefits of human capital migration for Bangladesh.

  14. How Strategic Entrepreneurship and the Institutional Context Drive Economic Growth

    DEFF Research Database (Denmark)

    Bjørnskov, Christian; Foss, Nicolai Juul

    2013-01-01

    combinations in the pursuit of profits under uncertainty. Institutions that support economic freedom allow such experimentation to take place at low transaction costs, positively influencing total factor productivity. We test these ideas on a unique panel data set derived from Compendia, World Bank data......The economics of growth has shown that countries grow by better allocating whatever resources are at their disposal and by introducing productivity-enhancing innovations. Strategic entrepreneurship plays a key role in this process by searching for, combining, trying out, etc., new resource......, and the Fraser Institute's economic freedom data. Copyright © 2013 Strategic Management Society....

  15. The Inflation and Economic Growth: Evidence from Romania

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    Mircea Asandului

    2015-06-01

    Full Text Available The main purpose of this study is to establish the existence (or not of a relationship between inflation and economic growth in Romania, the study lasting from 1970 to 2013. The methodology used in this study is the one specific to time series: structural break test using Zivot- Andrews test, the stationarity test using Augmented Dickey-Fuller (ADF, and then Granger causality testing. Test results showed that for the analyzed period, there was a cointegrating relationship between inflation and economic growth for Romania. Finally, to establish the econometric model of the two variables, it has been developed an ARDL model with two different periods of lag.

  16. Bayesian analysis of the dynamic structure in China's economic growth

    Science.gov (United States)

    Kyo, Koki; Noda, Hideo

    2008-11-01

    To analyze the dynamic structure in China's economic growth during the period 1952-1998, we introduce a model of the aggregate production function for the Chinese economy that considers total factor productivity (TFP) and output elasticities as time-varying parameters. Specifically, this paper is concerned with the relationship between the rate of economic growth in China and the trend in TFP. Here, we consider the time-varying parameters as random variables and introduce smoothness priors to construct a set of Bayesian linear models for parameter estimation. The results of the estimation are in agreement with the movements in China's social economy, thus illustrating the validity of the proposed methods.

  17. Financial Intermediaries and Economic Growth: The Nigerian Evidence

    Directory of Open Access Journals (Sweden)

    Oba Efayena

    2014-06-01

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

  18. Personal Concepts on "Hunger in Africa"

    Science.gov (United States)

    Obermaier, Gabriele; Schrufer, Gabriele

    2009-01-01

    When discussing the topic "Hunger in Africa" with students, incorrect and biased ideas on the causes for hunger are revealed. In order to change the students' personal concepts it is necessary to become acquainted with their mental models. Therefore, a survey of Geography students' different personal theories concerning "Hunger in Africa" was…

  19. Regressional modeling and forecasting of economic growth for arkhangelsk region

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    Robert Mikhailovich Nizhegorodtsev

    2012-12-01

    Full Text Available The regression models of GRP, considering the impact of three main factors: investment in fixed assets, wages amount, and, importantly, the innovation factor –the expenditures for research and development, are constructed in this paper on the empirical data for Arkhangelsk region. That approach permits to evaluate explicitly the contribution of innovation to economic growth. Regression analysis is the main research instrument, all calculations areperformedin the Microsoft Excel. There were made meaningful conclusions regarding the potential of the region's GRP growth by various factors, including impacts of positive and negative time lags. Adequate and relevant models are the base for estimation and forecasting values of the dependent variable (GRP and evaluating their confidence intervals. The invented method of research can be used in factor assessment and prediction of regional economic growth, including growth by expectations.

  20. Effects of Chinese Economic Stimulus Package on Economic Growth in the Post-Crisis China

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    Shenglv Zhou

    2011-01-01

    Full Text Available This paper aims to simulate the contribution of investment expansion policy after financial crisis as well as describe the possible economic perspectives in the post-crisis period by using scenario simulation method based on Chinese dynamic economic CGE (computable general equilibrium model. Energy consumption and CO2 emission are also considered in order to access the possible negative effects owing to investment enlargement. The results show that expanding investment response to financial crisis increases economic growth rate by 6.74% from 2.36% in 2009. It can relieve the fluctuation in economy and bring the economic growth close to baseline level in the near post-crisis period. However, higher energy consumption intensity and CO2 emission intensity compared to baseline owing to the increasing investment make energy saving and CO2 mitigation more difficult.

  1. SMALL ENTERPRISES: KEY SOURCE OF EMPLOYMENT AND ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Tihomir Spremo

    2015-12-01

    Full Text Available Small enterprises, within the market economy, are initiators of economic development and an important part of every national economy. Due to the nature of private property, entrepreneurial spirit, flexibility and adaptability, as well as their potential to react to the challenges and turbulences in the environment, small businesses give a special contribution to economic growth and higher employment. Entrepreneurship and small business represent a significant and fundamental source for creation of new jobs and expansion of new business practices by providing a significant contribution to economic growth. This applies both to small businesses in the Republic of Srpska and the ones that are located anywhere in the world. The role of small enterprises is especially important in transition countries. During the global economic crisis, small businesses have, both in developed economies, and in the Republic of Srpska and BiH as a whole, proved to be resilient, although this period was characterized by a very poor business environment. The importance of entrepreneurship and small firms in developing national economies are often the subject of professional and empirical discussion. However, recent developments have further confirmed the views that small businesses, in dealing with all the negativities of poor business environment in times of crisis, more quickly adapt to changes compared to larger enterprises and companies. This quality of small enterprises gives enough reason to pay special attention to the theoretical and practical aspects of this phenomenon, in order to make appropriate business decisions and implementation of development policy as a more efficient model for faster economic development of the national economy. The subject of this paper is to define the importance of small businesses in the economic growth of developed and developing countries. Through researching analyses, this paper examines the role and importance of small

  2. Economic Growth is not at Odds with Environmental Efforts

    Institute of Scientific and Technical Information of China (English)

    齐建国

    2008-01-01

    This paper gives an analysis on the reasons for China’s rapid economic growth, highlighting its momentum and challenges. It includes the study and forecast on the growth rate during the "11th Five-year Plan" period and the achievability of energy conservation and greenhouse gas emission reduction targets, putting forward four policy recommendations in response to the new developments in the economy since 2006.

  3. Endogenous economic growth, EROI, and transition towards renewable energy

    OpenAIRE

    Victor Court; Pierre-André Jouvet; Frédéric Lantz

    2015-01-01

    Due to their initial lack of emphasis on energy and natural resources, exogenous and endogenous growth models have suffered the same critic regarding the limits to economic growth imposed by finite Earth resources. Thus, various optimal control models that incorporate energy or natural resources have been developed during the last decades. However, in all these models the importance of the Energy Return On Energy Investment (EROI) has never been raised. The EROI is the ratio of the quantity o...

  4. Stochastic Optimal Economic Growth Model with Natural Resources

    Institute of Scientific and Technical Information of China (English)

    ZHOU Shaobo; HU Shigeng; WANG Maofa

    2006-01-01

    The paper examines an economic growth problem how social planners reasonably open up and retain natural resources. The objective is to maximize the total expected discounted utility of comsumption. Social planners ' optimal decision and optimal expected rates at the steady state are derived. At last, how productivity and productivity shock affect on the expected growth rate, consumption-resources ratio and the fraction of exploited resources, are analyzed.

  5. Demographic Dynamics and the Empirics of Economic Growth

    OpenAIRE

    Michael Sarel

    1995-01-01

    This paper examines the effects of demographic dynamics on the measured rates of economic growth. First, it develops a model of production with labor productivity that varies with age. Second, it uses macroeconomic and demographic data to estimate the relative productivity of different age groups. Third, it constructs a panel database of effective labor supply in order to reflect the changing age-structure of the population. Fourth, it decomposes the historical measured growth rates into effe...

  6. STABILITY ANALYSIS OF TWO-SECTORS STOCHASTIC ECONOMIC GROWTH MODEL

    Institute of Scientific and Technical Information of China (English)

    Shaobo ZHOU; Shigeng HU

    2007-01-01

    In the paper, we investigate the stability of a two-sector economic growth model under stochastic case. A two-dimensional stochastic differential system is deduced by Ito's formula, by using Lyapunov function methods, whether the growth rates of physical capital and human capital are exponentially stable or unstable depends on the values for parameters. Finally, we also illustrate the results with two examples.

  7. QUALITY OF NATIONAL ECONOMIC GROWTH: FACTORS AND DETERMINANTS

    Directory of Open Access Journals (Sweden)

    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

  8. Solow meets Leontief. Economic growth and energy consumption

    Energy Technology Data Exchange (ETDEWEB)

    Arbex, Marcelo; Perobelli, Fernando S. [Department of Economics, University of Windsor, Windsor, ON (Canada)

    2010-01-15

    This paper proposes a methodology that integrates a growth model with an input-output model to analyze the impacts of economic growth on the consumption of energy. The integration between the models is carried out by calibrating the growth module, which incorporates energetic inputs (renewable and nonrenewable) in the production function, and implementing shocks by the supply side (capital, labor, renewable and nonrenewable energy) in the input-output model. This allows us to verify the pattern of energy consumption for each sector in the input-output matrix. We apply this methodology to study the energy consumption of eleven economic sectors in Brazil, using data from the Brazilian National Accounts and Input-Output Matrix (IBGE) and the National Energy Report (BEN). We conduct experiments involving changes in technological progress growth rate, extraction and regeneration rates of both renewable and nonrenewable resources and population growth to analyze the impact of changes in the parameters of the model on the sectoral output growth rate and, consequently, on the consumption of energy in each economic sector. (author)

  9. 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

  10. The Study on Factors of Health Economics and Economic Growth in Iran

    Directory of Open Access Journals (Sweden)

    Naghmeh Ghorashi

    2013-10-01

    Full Text Available Introduction: Economic development and public welfare are some of macroeconomic goals for any country. Health economy is one of the parameters as criterion for action in evaluation of this important subject. The present study has been intended to investigate into the relationship among factors of health economy including total health expenditures (some percent of Gross Domestic Product GDP, life expectancy, Infant mortality rate, and Population age 65 and above as a percentage of the total population on Iranian economic growth minus petroleum. Materials and Methods: In order to estimate this ratio, the needed study has been carried out by the aid of a econometric model based on Aggregated Growth Theories and according to indices of healthcare economy within time interval 1996:1-2010:4 and by means of Dynamic Ordinary Least Squares (DOLS. Conclusion: The results of the estimations suggest that among four factors of in the field of health economy in this survey, two factors, i.e total health expenditures (as some percent of GDP and Population age 65 and above as a percentage of the total population have been positively and significantly affected on Iranian economic growth during career of study. Although, other known variables in economic growth models such as financial development and foreign commercial parameters like exportations and importations have also affected on Iranian economic growth minus petroleum positively and significantly in accordance with the existing expectations and theories. Results: Thus, it seems that the authorities and policy- makers in the field of healthcare of this country may prepare the ground for boosting economic growth of this country through increasing healthcare and medical costs by orientation of development and deepening the healthcare infrastructures and system in the future.

  11. World Economic Growth and Oil: a Producers' Perspective

    Science.gov (United States)

    Shihab-Eldin, Adnan

    2014-07-01

    This paper examines the following assertions: * A high share of oil price in GDP limits economic growth, * Oil Price shocks trigger recession, * These effects will be escalated by peaked oil supply and rising developing world demand and together with increasing contributions to climate change will result in a global emergency. The role of energy in societal development and economic growth, from primitive man through the industrial revolution and the oil age to the present and the evolution of energy intensity are described. The principle role of oil as a transport fuel and the possibilities of alternatives are examined. It is concluded that oil dependence will continue for the foreseeable future. The history of the industry, market behavior and its economic effects are presented to establish precedent and the assertions are then examined. It is shown that rising oil prices are an unavoidable consequence of economic growth, that they have stimulated efficient minimum functional use and made more difficult conventional and unconventional sources economic. It is then argued that potentially these additional resources eliminate the possibility of supply shortage and that diversification of supply lessens the possibility of shock, together rendering a global emergency less likely than could have been previously envisaged.

  12. 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.

  13. Hunger, Eating, and Ill Health.

    Science.gov (United States)

    Pinel, John P. J.; Assanand, Sunaina; Lehman, Darrin R.

    2000-01-01

    Because of the unpredictability of food in nature, humans have evolved to eat to their physiological limits when food is plentiful. Discrepancies between the environment in which the hunger and eating system evolved and the food-replete environments in which many people live have led to the current problem of overconsumption. This evolutionary…

  14. Bioethics in the Hunger Games

    Science.gov (United States)

    Cook, Kristin; Keller, Donna; Myers, Alyce

    2014-01-01

    In this guided inquiry, students investigate advantages and disadvantages of genetic engineering by integrating popular fiction into their study of bioethics. What are the effects of artificially created hybrid creatures on characters in "The Hunger Games" and in our society? What are the effects on and basic rights of the organisms…

  15. Neurophysiology of Hunger and Satiety

    Science.gov (United States)

    Smith, Pauline M.; Ferguson, Alastair V.

    2008-01-01

    Hunger is defined as a strong desire or need for food while satiety is the condition of being full or gratified. The maintenance of energy homeostasis requires a balance between energy intake and energy expenditure. The regulation of food intake is a complex behavior. It requires discrete nuclei within the central nervous system (CNS) to detect…

  16. STIMULATION OF ECONOMIC GROWTH IN ROMANIA BETWEEN REALITY AND DESIDERATE

    Directory of Open Access Journals (Sweden)

    DOBROTĂ GABRIELA

    2013-12-01

    Full Text Available Fragility of economical environment subject to a dynamic process of globalization in recent decades has been demonstrated abundantly, year 2007 representing an important point in terms of triggering the accentuated macroeconomic imbalances. The propagation of the financial crisis in the economic environment is clearly reflected by the contraction of the global economy after a long period of growth, the emphasizing of budget deficits, reducing wages, increase of unemployment. Romania was significantly affected by the global economic crisis, amid a long line of inadequate policies. The orientation excessive economic development through consumption and the unfavorable ratio between income and productivity are issues that have contributed significantly to the decline of the Romanian economy. Inadequate measures taken have worsened the effects of crisis: reducing foreign investment, increasing of trade deficit, reduction of living standards, decreasing the number of SMEs, worsening the institutional weaknesses etc. In this paper, are addressed aspects which highlights the effects of economic policy measures promoted in Romania after the transition to market economy, on stages, specifying measures necessary to ensure the functionality of coordination mechanisms, in order to register determinant impulses of economic growth.

  17. Regional technical innovation suitability and economic growth in China

    NARCIS (Netherlands)

    Zhou, Qing; Zhu, Dan; Ren, Liqin

    2012-01-01

    This paper aims to use quantitative method to analyse the suitability of regional technical innovation and further compare its influence to regional economic growth in China. Based on literature review, the authors develop an evaluation index system containing four aspects (namely, innovators, innov

  18. Financial liberalization and economic growth : A meta-analysis

    NARCIS (Netherlands)

    Bumann, Silke; Hermes, Niels; Lensink, Robert

    2013-01-01

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

  19. CNPC Works to Secure Energy for Economic Growth

    Institute of Scientific and Technical Information of China (English)

    1997-01-01

    @@ China is drilling deeper and wider at home and abroad for additional oil reserves to ensure energy for expected economic growth and social development. Petroleum-related national corporation are increasing efforts to secure more oil while the central government is focusing on future energy supplies and strategies.

  20. Do 'green' taxes work? Decoupling environmental pressures and economic growth

    DEFF Research Database (Denmark)

    Andersen, Mikael Skou

    2005-01-01

    This essay intends to shed light on whether environmental taxation can help to decouple environmental pressures from economic growth, a policy outcome widely desired and particularly pressing in the context of climate change where radical measures are needed to curb CO2 build up....

  1. Barriers to economic growth in Malawi: reflections on smallholders

    NARCIS (Netherlands)

    Kambewa, E.; Nagoli, J.

    2010-01-01

    The contribution of smallholders to the economic growth in developing countries and Malawi in particular may be a well know fact. Malawi's economy is agro-based where the agriculture sector contributes 42% of national GDP. Despite the smallholder agriculture's contribution to the economy (30% of

  2. Regional technical innovation suitability and economic growth in China

    NARCIS (Netherlands)

    Zhou, Qing; Zhu, Dan; Brouwers-Ren, Liqin

    2012-01-01

    This paper aims to use quantitative method to analyse the suitability of regional technical innovation and further compare its influence to regional economic growth in China. Based on literature review, the authors develop an evaluation index system containing four aspects (namely, innovators,

  3. New evidence on the relationship between democracy and economic growth

    NARCIS (Netherlands)

    de Haan, J.; Siermann, C.L.J.

    It is often maintained that democracy is a luxury which comes at a price in terms of subsequent slower increases in national living standards. However, various recent cross-section studies on economic growth have found evidence that lack of civil and political liberties is negatively correlated with

  4. Decentralization and Economic Growth per capita in Europe

    NARCIS (Netherlands)

    Crucq, Pieter; Hemminga, Hendrik-Jan

    2007-01-01

    In this paper the relationship between decentralization and economic growth is investigated. The focus is on decentralization from the national government to the highest substate level in a country, which we define as regional decentralization. Section 2 discusses the different dimensions of decentr

  5. A Note on Entrepreneurship, Small Business and Economic Growth

    NARCIS (Netherlands)

    A.R. Thurik (Roy); A.R.M. Wennekers (Sander)

    2001-01-01

    textabstractThe aim of the present short paper is to show that since the 1970s the world has changed considerably, and that this change has had consequences for the current policy debate on the determinants of economic growth. Our paper deals with some aspects of the recent scientific literature on

  6. Financial Development and Economic Growth Nexus: The Moroccan Case

    Directory of Open Access Journals (Sweden)

    Mohamed Abouch

    2014-08-01

    Full Text Available The issues of the existence and the direction of causality between inance and growth are not yet settled. Even if theoretical and historical evidences suggest an important contribution of inance to foster economic growth, empirical studies provide conlicting results depending upon  analytical  approaches,  econometric  techniques,  and  used  data  sets.  The  empirical exploration of the links between the development of the Moroccan inancial sector (MFS and the economic performance of the country shed some light on the proile of this relationship. It appears that even if the indicators measuring the degree of development of the MFS have steadily evolved, they are not systematically and signiicantly linked with economic growth. This situation may be explained by the characteristics of the MFS and the existence of other factors, not related to this sector, that hinder economic growth. ";} // -->activate javascript

  7. Barriers to economic growth in Malawi: reflections on smallholders

    NARCIS (Netherlands)

    Kambewa, E.; Nagoli, J.

    2010-01-01

    The contribution of smallholders to the economic growth in developing countries and Malawi in particular may be a well know fact. Malawi's economy is agro-based where the agriculture sector contributes 42% of national GDP. Despite the smallholder agriculture's contribution to the economy (30% of GDP

  8. Inequality, Credit Market Imperfection, Segmentation and Economic Growth

    NARCIS (Netherlands)

    Zhu, D.

    2001-01-01

    This paper investigates how initial inequality can causally affect economic growth when moral hazard problems exist in credit markets.Two regimes of the credit markets aiming at overcoming the moral hazard problems are analyzed.The formal one such as bank relies on intermediary between borrowers and

  9. Child Labour, Education, Participation and Economic Growth in Sub ...

    African Journals Online (AJOL)

    Research Review of the Institute of African Studies. Journal Home · ABOUT · Advanced Search · Current Issue · Archives · Journal Home > Vol 24, No 1 (2008) > ... economic growth that increases family incomes and children\\'s educational ...

  10. Foreign direct investment, financial development and economic growth

    NARCIS (Netherlands)

    Hermes, Niels; Lensink, Robert

    2000-01-01

    FDI may help to raise economic growth in recipient countries. Yet, the contribution FDI can make may strongly depend on the circumstances in the recipient countries. This paper argues that the development of the financial system of the recipient country is an important precondition for FDI to have a

  11. Foreign direct investment, financial development and economic growth

    NARCIS (Netherlands)

    Hermes, C.L.M.; Lensink, B.W.

    2003-01-01

    This article argues that the development of the financial system of the recipient country is an important precondition for FDI to have a positive impact on economic growth. A more developed financial system positively contributes to the process of technological diffusion associated with FDI. The

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

    Science.gov (United States)

    Sabates, Ricardo

    2010-01-01

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

  13. The Importance of Renewable Energy in Economic Growth:

    Directory of Open Access Journals (Sweden)

    Manel Kamoun Zribi

    2016-03-01

    Full Text Available The purpose of this paper is to estimate the impact of renewable energy consumption from combustible renewable and waste sources on economic growth in emerging countries. We analyze the stylized facts of renewable energy and emerging countries related to four regions (Africa, Europe, Latin America, and Asia. We use recent data in the cob-Douglas function and applying a non-stationary panel model for 15 emerging countries covering the period (1990-2011. The Granger causality test showed that there is no causal relationship between renewable energy consumption of combustible renewable and waste sources and economic growth that confirm the neutrality hypothesis. The results supported a positive and significant effect of renewable energy consumption of this source on economic growth in emerging countries. The absence of a causal relationship can be explained by the inefficient use of combustible renewable and waste in the majority of those emerging countries. The consumption of low variability renewable energy such as renewable and waste stimulates economic growth in emerging countries.

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

    Energy Technology Data Exchange (ETDEWEB)

    Erdal, Guelistan; Esenguen, Kemal [Department of Agricultural Economics, Faculty of Agriculture, Gaziosmanpasa University, 60240 Tokat (Turkey); Erdal, Hilmi [Department of Technical Programs, Tokat Vocational School, Gaziosmanpasa University, 60240 Tokat (Turkey)

    2008-10-15

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

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

    African Journals Online (AJOL)

    impact of tourism on economic growth in the SADC region is the major ..... Unemployment is one of the social ills of most, if not all SADC counties, and any potential ..... by government on T&T services directly linked to visitors, such as cultural (eg museums) .... local production through backward and forward linkages. Rather ...

  16. 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.

  17. Energy efficiency and economic growth of China: 1953-2006

    Institute of Scientific and Technical Information of China (English)

    Zhang Jian

    2009-01-01

    Energy plays an important role in the economic life.With the rapid development of economy,the constrain of energy on the sustainable development of economy is becoming more and more obvious.This paper just studies the factors influencing energy effciency of China and the relationship between energy efficiency and China's eco,nomic growth.By using time series multivariable linear regression methods with China's relevant data from 1953to 2006,this paper constructs the regression model to analyze the factors that would impact energy efficiency.After that,a regression model of China's real output to capital,labor and energy efficiency is conducted to estimate the marginal contribution of every factor to the real output to prove the.fundamental influence of energy efficiency to the economic growth.In the end,some policies and recommendations are also put forward in order to improve the energu efficiency of China.

  18. Priorities Outlined for Maintaining China’s Sustainable Economic Growth

    Institute of Scientific and Technical Information of China (English)

    张国有

    2007-01-01

    The next 15 years will continue to witness the rapid economic rise of China,with an emphasis on both quality and speed.In the first half of the 21st century,rural areas remain to be the"strategic citadel"of expanding domestic demand and economic growth.In the face of energy and resource challenges,China plans to lay the groundwork of a resource-efficient society in 30 years.Other priorities include:building a favourable environment for international exchange,persisting in the path of"bringing-in,going global"and advancing international competition and cooperation based on mutual benefit and win-win situations.Moreover,to pursue independent innovation,develop private-run businesses,and engage the initiative of both local government and enterprises to enhance China’s economic vibrancy and sustainable growth.

  19. ECONOMIC GROWTH, TRADE AND ENVIRONMENTAL ISSUES: TESTING ENVIRONMENTAL KUZNETS CURVE

    Directory of Open Access Journals (Sweden)

    Dedi Budiman Hakim

    2013-04-01

    Full Text Available ASEAN experiences a dynamic economic growth due to its liberalised markets. However concerns arise related to environmental issues resulting from the economic activities. It reflects tradeoffs between economic growth driven by trade and foreign direct investment (FDI, and environment. To investigate such a relation the Environmental Kuznets Curve was applied by regressing amount of carbon emission with gross domestic product (GDP, quadratic GDP, trade openness and FDI. The result reveals that amount of carbon emission is linearly and positively correlated with GDP per capita. It is predicted that as ASEAN economies grow, carbon emission increases. Trade openness is also found to contribute to carbon emission. Keywords: Kuznets curve, carbon emission, gross domestic product, trade, foreign direct investment JEL classification number: F15, F18

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

    DEFF Research Database (Denmark)

    Møller, Stig V.; Rangvid, Jesper

    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....

  1. Are high real interest rates bad for world economic growth?

    OpenAIRE

    1991-01-01

    There is a conventional perception that high real interest rates are bad for economic growth. However, the authors show that close examination of the experience over the last 40 years undermines the existence of such a relationship. For much of the 1950-79 period, expost real interest rates were less than the growth rate of income in the major economies, whereas the 1980s were a period of rapid growth in the world economy that coincided withunprecedentedly high real interest rates. The author...

  2. THE SUCCESS OF EMERGING CAPITAL MARKETS IN DETERMINING ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Ion POHOAŢĂ

    2014-06-01

    Full Text Available Capital markets are regarded as “the barometer” of economic activity at the national level, but among emerging markets, the position of this segment in the economy is far from ideal. The answers that we try to offer are concerning the contribution of capital markets to the economic welfare of nations in transition from Central and Eastern Europe, using Granger causality tests. Our findings highlight that in this geographical area, the relation between capital markets and economic growth is a bidirectional one. However, although both the establishment of stock exchanges and their liberalization represented governments’ strategy of economic development, their objective was not fully achieved. Institutional transformations are required in order to attract foreign investors.

  3. Energy consumption and economic growth revisited in African countries

    Energy Technology Data Exchange (ETDEWEB)

    Eggoh, Jude C., E-mail: comlanvi-jude.eggoh@univ-orleans.fr [Laboratoire d' Economie d' Orleans (LEO), Universite d' Orleans, Rue de Blois, BP: 6739, 45067 Orleans Cedex 2 (France); Bangake, Chrysost [Laboratoire d' Economie d' Orleans (LEO), Universite d' Orleans, Rue de Blois, BP: 6739, 45067 Orleans Cedex 2 (France); Universite d' Artois and Laboratoire EQUIPPE, Lille 1, FSES, 59655 Villeneuve d' Ascq Cedex (France); Rault, Christophe [Laboratoire d' Economie d' Orleans (LEO), Universite d' Orleans, Rue de Blois, BP: 6739, 45067 Orleans Cedex 2 (France); Toulouse Business School (France)

    2011-11-15

    The aim of this paper is to provide new empirical evidence on the relationship between energy consumption and economic growth for 21 African countries over the period from 1970 to 2006, using recently developed panel cointegration and causality tests. The countries are divided into two groups: net energy importers and net energy exporters. It is found that there exists a long-run equilibrium relationship between energy consumption, real GDP, prices, labor and capital for each group of countries as well as for the whole set of countries. This result is robust to possible cross-country dependence and still holds when allowing for multiple endogenous structural breaks, which can differ among countries. Furthermore, we find that decreasing energy consumption decreases growth and vice versa, and that increasing energy consumption increases growth, and vice versa, and that this applies for both energy exporters and importers. Finally, there is a marked difference in the cointegration relationship when country groups are considered. - Highlights: > We assess the energy consumption and economic growth nexus in 21 African countries. > There exists a long-run relationship between energy consumption and economic growth. > This result is robust to cross-country dependence and for structural breaks. > Our findings finally support the feedback hypothesis of bidirectional causality.

  4. THE BRDE AND ECONOMIC GROWTH OF PARANÁ: EMPIRICAL EVIDENCE

    Directory of Open Access Journals (Sweden)

    Augusta Pelinski Raiher

    2014-05-01

    Full Text Available This paper analyzes the importance of credit provided by Bank of Regional Development of Southern (BRDE in Paraná State, Brazil. to induce growth economic Paraná's regional from three angles: growth of the Gross Domestic Product (GDP , the impact on the expansion of foreign markets via exports and its impact on generation employment in different economic activities. The space of the analysis were the microregions of Paraná State and the period of analysis was the first decade of this century (2003 and 2009. The results demonstrated that is extremely relevant the participation of BRDE's resources in generating employment and income in the Paraná State, that is, in the induction of growth regional.

  5. Economic Growth and Budget Constraints: EU Countries Panel Data Analysis

    Directory of Open Access Journals (Sweden)

    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.

  6. Driving Economic Growth: Higher Education--A Core Strategic Asset to the UK. Higher Education in Focus: Driving Economic Growth

    Science.gov (United States)

    Universities UK, 2011

    2011-01-01

    This publication highlights the critical role UK universities will continue to play in reviving and sustaining economic growth across the country. Using a range of visual data and statistics, it highlights that the UK's future success depends on developing innovation and the knowledge economy in what is an increasingly competitive global…

  7. Driving Economic Growth: Higher Education--A Core Strategic Asset to the UK. Higher Education in Focus: Driving Economic Growth

    Science.gov (United States)

    Universities UK, 2011

    2011-01-01

    This publication highlights the critical role UK universities will continue to play in reviving and sustaining economic growth across the country. Using a range of visual data and statistics, it highlights that the UK's future success depends on developing innovation and the knowledge economy in what is an increasingly competitive global…

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

    Directory of Open Access Journals (Sweden)

    Olimpia Neagu

    2017-04-01

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

  9. 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

  10. THE INFLUENCE OF GLOBALIZATION ON ECONOMIC GROWTH IN ROMANIA

    Directory of Open Access Journals (Sweden)

    PAUL BOGDAN ZAMFIR

    2015-12-01

    Full Text Available In this paper we propose to emphasize the structural changes involved by globalization process who generate a semnificative influence on the economic growth in Romania. Thus, on this background it is important to point out that even though the phenomenon of globalization represents manny opportunities for Romanian economic growth, nevertheles, our country must regard at the same time all the systemic risks that are involved in this process. From this perspective, an important role has the activity of romanian small and medium sized enterprises that through its specific creates jobs and contributes substantially to growth in Romania. In terms of risks, for our country is necessary to develop effective mechanisms of self-defense against involved economic dangers. Also, should not be ignored that the quality of European Union member offers for Romania a strong base and in the same time the chance to benefit from the positive effects of the single market and the opportunities offered by the global market. In this framework, Romanian economy is not exempted from stiff competition in the field of trade in goods and services from countries like China or India who succeed through competition, to "break down trade barriers" of economic blocs. More than that, Romanian high tech industry can take advantage for themselves from the positive effects of globalization process by penetrating on third country markets.

  11. Electricity consumption and economic growth: A cross-country analysis

    Energy Technology Data Exchange (ETDEWEB)

    Yoo, Seung-Hoon, E-mail: shyoo@hoseo.ed [Department of International Area Studies, Hoseo University, 268 Anseo-Dong, Cheonan, Chungnam 330-713 (Korea, Republic of); Lee, Joo-Suk, E-mail: leejoosuk@hoseo.ed [Department of International Area Studies, Hoseo University, 268 Anseo-Dong, Cheonan, Chungnam 330-713 (Korea, Republic of)

    2010-01-15

    Electricity has been the foundation of economic growth, and constitutes one of the vital infra-structural inputs in socio-economic development. The world faces a surge in demand for electricity that is driven by such powerful forces as population growth, extensive urbanization, industrialization, and the rise in the standard of living. This paper attempts to ascertain whether there is a systematic relationship between electricity consumption and economic growth. To this end, we use a large set of data that spans 88 countries during the period, 1975-2004. A statistically significant inverted-U-shaped relationship between per-capita consumption of electricity and per-capita income is detected. Nevertheless, by using a purchasing power parity that is much higher than the per-capita income of all the countries in the world, the level of per-capita income is estimated at the peak point of per-capita electricity consumption to be $61,379 in 2000 constant international dollars. Moreover, we segment the sample into Organization for Economic Cooperation and Development (OECD) countries and non-OECD countries, and separately analyze the developed and developing countries. The separate estimation shows that even though the peak income is higher than the average per-capita income, a statistically significant inverted-U-shaped relationship is found in OECD and developed countries but not in non-OECD and developing countries.

  12. Electricity consumption and economic growth. A cross-country analysis

    Energy Technology Data Exchange (ETDEWEB)

    Yoo, Seung-Hoon; Lee, Joo-Suk [Department of International Area Studies, Hoseo University, 268 Anseo-Dong, Cheonan, Chungnam 330-713 (Korea)

    2010-01-15

    Electricity has been the foundation of economic growth, and constitutes one of the vital infra-structural inputs in socio-economic development. The world faces a surge in demand for electricity that is driven by such powerful forces as population growth, extensive urbanization, industrialization, and the rise in the standard of living. This paper attempts to ascertain whether there is a systematic relationship between electricity consumption and economic growth. To this end, we use a large set of data that spans 88 countries during the period, 1975-2004. A statistically significant inverted-U-shaped relationship between per-capita consumption of electricity and per-capita income is detected. Nevertheless, by using a purchasing power parity that is much higher than the per-capita income of all the countries in the world, the level of per-capita income is estimated at the peak point of per-capita electricity consumption to be $61,379 in 2000 constant international dollars. Moreover, we segment the sample into Organization for Economic Cooperation and Development (OECD) countries and non-OECD countries, and separately analyze the developed and developing countries. The separate estimation shows that even though the peak income is higher than the average per-capita income, a statistically significant inverted-U-shaped relationship is found in OECD and developed countries but not in non-OECD and developing countries. (author)

  13. Economic Growth And Carbon Emission: A Dynamic Panel Data Analysis

    Directory of Open Access Journals (Sweden)

    Ibrahim BAKIRTAS

    2014-10-01

    Full Text Available The relationship between carbon dioxide emission (CO2 and economic growth is one of the crucial topics in environmental economics. This study is aimed to investigatethat problem. In this study, depending on the theory of Environmental Kuznets Curves (EKC, the impact of income in carbon dioxide emission has measured for 34 OECD and5 BRICS countries with using Dynamic Panel Data Analysis. In this regard OECD countries are classified by income groups due to the average per capita income rate ofOECD to solve the homogeneity problem among OECD countries. On the other hand EKC hypothesis analysed by short and long run income elasticity which will be using foran evident that a country reduces CO2 emissions with the income increase in this study. According to the findings of the study, % 36 of the country sample coherent with theEKC hypothesis. The main encouragement for testing this relationship between economic growth and CO2 emission is leading politicians to reconsider the environmental impactswhich are arising from income increase when they are taking a decision to maximizes the economic growth.Keywords: EKC; OECD; Dynamic Panel Data

  14. Modelling the interaction between flooding events and economic growth

    Science.gov (United States)

    Grames, J.; Prskawetz, A.; Grass, D.; Blöschl, G.

    2015-06-01

    Socio-hydrology describes the interaction between the socio-economy and water. Recent models analyze the interplay of community risk-coping culture, flooding damage and economic growth (Di Baldassarre et al., 2013; Viglione et al., 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. In order to build this first economic growth model describing the interaction between the consumption and investment decisions of an economic agent and the occurrence of flooding events, we transform an existing descriptive stochastic model into an optimal deterministic model. The intermediate step is to formulate and simulate a descriptive deterministic model. We develop a periodic water function to approximate the former discrete stochastic time series of rainfall events. Due to the non-autonomous exogenous periodic rainfall function the long-term path of consumption and investment will be periodic.

  15. Economic growth and its determinants in countries in transitio

    Directory of Open Access Journals (Sweden)

    Kestrim Avdimetaj

    2015-11-01

    Full Text Available Main purpose of this scientific research is to analyze the countries in transition; in particular, through this research we will explain the economic growth and its determinants in the countries in transition. Referring to the fact that many ex-communist countries were faced with a transition from a socialist economic system into the economic system of free market, and this phase of transformation is also known as transition, we will analyze this phase in details. The materials contained in this research are based on data taken directly from Financial Institutions, European Central Bank, as well as many other relevant prestigious institutions of countries in transition. The first section of this research begins with the introduction, presenting broadly the economic growth in countries in transition and the manner of their transformation, as well as the identification of hypothesis contained in this research. The second section contains the review of the literature, where we have cited parts from many authors who conducted studies in this broadly and productive field. In the third section are explained the mathematical formulas, that specify the econometric model, as well as the method of assessment, i.e. multiple regression analysis. Then, through the calculations of STATA, we will substitute the values of variables obtained in formula and test them through the selected model. In the last section we will interpret the outcomes derived from calculations in the program, supporting or dismissing hypothesis presented in this scientific research. This scientific research is limited, because many other important variables impacting the economic growth, such as instruments of monetary and fiscal policy, economic freedom, etc., have not been incorporated.

  16. Tuberculosis remains a challenge despite economic growth in Panama.

    Science.gov (United States)

    Tarajia, M; Goodridge, A

    2014-03-01

    Tuberculosis (TB) is a disease associated with inequality, and wise investment of economic resources is considered critical to its control. Panama has recently secured its status as an upper-middle-income country with robust economic growth. However, the prioritisation of resources for TB control remains a major challenge. In this article, we highlight areas that urgently require action to effectively reduce TB burden to minimal levels. Our conclusions suggest the need for fund allocation and a multidisciplinary approach to ensure prompt laboratory diagnosis, treatment assurance and workforce reinforcement, complemented by applied and operational research, development and innovation.

  17. Achieving inclusive economic growth and development in Nigeria through MSMEs

    Directory of Open Access Journals (Sweden)

    Ezekiel Oseni

    2015-08-01

    Full Text Available The Nigerian economy has witnessed consistent average annual growth rate of 7.4% in the last few years, however, the impact of the growth on the citizenry remains insignificant while poverty, youth restlessness, kidnapping for ransoms, terrorism and other vices are on the rise. The objective of the study was to examine why the impact of the economic growth over the years has remained insignificant and what interventions are required to change the tide. The study discovered that the oil sector which is not labour intensive accounts for over eighty (80 percent of Government revenue and a major contributor to the nation GDP. The study also discovered that the poverty level and unemployment rate among the populace require urgent and drastic measures. The impactful measures will require creation of enabling environment, provision of relevant infrastructure and adequate funding programmes that can be easily accessed. The financial system like in any other economy is essential to attaining inclusive economic growth in Nigeria and it should be more supportive to the economy by abolishing existing lending conditions that make it impractically impossible for many MSMEs which are the engine of economic development to access funds.

  18. Elder insecurities: poverty, hunger, and malnutrition.

    Science.gov (United States)

    Wellman, N S; Weddle, D O; Kranz, S; Brain, C T

    1997-10-01

    Between 8% and 16% (2.5 to 4.9 million) of the elder population have experienced food insecurity within a 6-month period. Federal programs to combat food insecurity reach only one-third of needy elders. While hunger and poverty are linked directly to malnutrition, the multifaceted nature of elderly malnutrition cuts across all economic, racial, and ethnic groups. Malnourished patients experience 2 to 20 times more complications, have up to 100% longer hospital stays, and compile hospital costs $2,000 to $10,000 higher per stay. Dietitians can advocate routine nutrition screening to target elders at highest risk and lobby for expansion of appropriate nutrition services in home, community, and institutional settings.

  19. DOES FOREIGN DIRECT INVESTMENT IMPROVE ECONOMIC GROWTH IN CEMAC COUNTRIES?

    Directory of Open Access Journals (Sweden)

    EMMANUEL BRUNO  ONGO NKOA

    2013-09-01

    Full Text Available The aim of this research work is to assess the influence of FDI on economic growth in the CEMAC region. The ratio of FDIs in the actual GDP of countries of the CEMAC region has recorded a steady annual increase for the past three decades. Moreover, the high variability of FDI, given the various crises and fluctuations in the prices of raw materials invites us to reflect and question the impact of FDI on growth by studying the case of CEMAC countries. The theoretical analysis is based on the neoclassical growth theory and its extensions. After the selection of a model crafted from Imoudu (2012 and Boreinsztein et al. (1998. The results show that FDI have a positive impact on the growth of the sub-region and these are conveyed by human capital.

  20. Financial Development,Human Capital and Economic Growth

    Institute of Scientific and Technical Information of China (English)

    Guihong; WAN

    2014-01-01

    Financial development and human capital are the important driving forces of economic and social development in Shandong Province,and the level of them as well as the degree of coordination between the two not only affects the transformation of economic development pattern in Shandong Province,but also affects the implementation of leapfrog development strategy in Shandong Province. Through the study,it is found that there is a long-term stable dynamic equilibrium relationship among economic growth,human capital and financial development;the degree of coordination between financial development and human capital in Shandong Province is constantly improved,evolving from imbalance to balance. Obviously,the coordination between financial development and urbanization construction in Shandong Province continues to improve.

  1. Why Have Economic Reforms in Mexico Not Generated Growth?

    OpenAIRE

    Timothy J. Kehoe; Kim J. Ruhl

    2010-01-01

    Following its opening to trade and foreign investment in the mid-1980s, Mexico’s economic growth has been modest at best, particularly in comparison with that of China. Comparing these countries and reviewing the literature, we conclude that the relation between openness and growth is not a simple one. Using standard trade theory, we find that Mexico has gained from trade, and by some measures, more so than China. We sketch out a theory in which developing countries can grow faster than the U...

  2. Energy consumption and economic growth. A causality analysis for Greece

    Energy Technology Data Exchange (ETDEWEB)

    Tsani, Stela Z. [The University of Reading, Department of Economics, Henley Business School, PO Box 218, Reading, RG6 6AA (United Kingdom)

    2010-05-15

    This paper investigates the causal relationship between aggregated and disaggregated levels of energy consumption and economic growth for Greece for the period 1960-2006 through the application of a later development in the methodology of time series proposed by Toda and Yamamoto (1995). At aggregated levels of energy consumption empirical findings suggest the presence of a uni-directional causal relationship running from total energy consumption to real GDP. At disaggregated levels empirical evidence suggests that there is a bi-directional causal relationship between industrial and residential energy consumption to real GDP but this is not the case for the transport energy consumption with causal relationship being identified in neither direction. The importance of these findings lies on their policy implications and their adoption on structural policies affecting energy consumption in Greece suggesting that in order to address energy import dependence and environmental concerns without hindering economic growth emphasis should be put on the demand side and energy efficiency improvements. (author)

  3. Energy consumption and economic growth: A causality analysis for Greece

    Energy Technology Data Exchange (ETDEWEB)

    Tsani, Stela Z., E-mail: s.cani@reading.ac.u [University of Reading, Department of Economics, Henley Business School, PO Box 218, Reading, RG6 6AA (United Kingdom)

    2010-05-15

    This paper investigates the causal relationship between aggregated and disaggregated levels of energy consumption and economic growth for Greece for the period 1960-2006 through the application of a later development in the methodology of time series proposed by Toda and Yamamoto (1995). At aggregated levels of energy consumption empirical findings suggest the presence of a uni-directional causal relationship running from total energy consumption to real GDP. At disaggregated levels empirical evidence suggests that there is a bi-directional causal relationship between industrial and residential energy consumption to real GDP but this is not the case for the transport energy consumption with causal relationship being identified in neither direction. The importance of these findings lies on their policy implications and their adoption on structural policies affecting energy consumption in Greece suggesting that in order to address energy import dependence and environmental concerns without hindering economic growth emphasis should be put on the demand side and energy efficiency improvements.

  4. High speed diesel consumption and economic growth in India

    Energy Technology Data Exchange (ETDEWEB)

    Ghosh, Sajal [Management Development Institute (MDI), Gurgaon 122001 (India)

    2010-04-15

    This study probes the long-term equilibrium relationship among High Speed Diesel (HSD) consumption, real GDP and price of HSD in India using autoregressive distributed lag (ARDL) bounds testing approach of cointegration for the time span 1972-1973 to 2005-2006. Empirical results reveal that the series are cointegrated and long term income elasticity for HSD demand in India is 1.27 while that for short-run is 0.46. Both long-run and short-run price elasticities are found to be statistically insignificant. The study also establishes a short-run bi-directional causality between economic growth and HSD consumption and the existence of a long-run unidirectional causality running from economic growth to HSD consumption. Finally, a set of policy prescriptions have been suggested to reduce the consumption of HSD, which should have no adverse impact on economy in the long-run. (author)

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

    Energy Technology Data Exchange (ETDEWEB)

    Stern, D.I. (Boston Univ., MA (United States). Center for Energy and Environmental Studies)

    1993-04-01

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

  6. FDI, Economic Growth, Energy Consumption & Environmental Nexus in Bangladesh

    Directory of Open Access Journals (Sweden)

    Sandip SARKER

    2016-04-01

    Full Text Available This paper attempts to investigate the relationship among economic growth, energy consumption, CO2 emission, FDI and natural gas usage in Bangladesh through co-integration and Vector Error Correction model (VECM over the period 1978 to 2010. Using ADP unit root tests it is found that all the four variables are integrated in first difference. The Johansen co-integration tests indicate that there is existence of long-run relationship among the variables. The VECM long run causality model indicates that there is a long run causality running from energy consumption and natural gas usage by industrial sector to GDP as well as from CO2 emission to FDI. Likewise in the short run a causal relationships have also been found among the variables. Moreover our model is found be error free based on several statistical test. Our results provide important policy suggestions regarding our foreign direct investment, environmental issues and economic growth nexus in Bangladesh.

  7. [Economic growth and changes in the structure of the population].

    Science.gov (United States)

    Conroy, M E

    1980-01-01

    A reevaluation of classic works by Simon Kuznets and Wassily Leontief suggests that their conclusions concerning the interrelationships between economic growth and population structure correspond to relatively highly specialized characteristics of present forms of capitalist development or underdevelopment and not necessarily to capitalist development within a new international economic order or to socialist development. Kuznets' work seems to offer conclusive proof of the negative effects of rapid population growth on economic development for 3 reasons: 1) requirements for capital are greater, 2) total production and per capita consumption are greatly reduced with high dependency ratios, and 3) rapid growth in consumption is more difficult when the population is growing more rapidly. However, at least 4 problems are noted when Kuznets' ideas are applied to the 3rd world. Kuznets assumes that growth of physical capital is the only source of growth, so that only increased investment can increase returns. Secondly, assuming the same ratio of capital/output for all cases assumes that no substitution of labor for capital is possible. Third, the assumption that participation rates remain the same regardless of dependency ratios may be incorrect. And finally, the difference in per capita consumption that Kuznets attributes to differences in rates of population growth represents a tiny proportion of the total gap in the standard of living of rich countries with slow population growth and poor countries with rapid growth. Kuznets' argument has considerable validity in Third World countries which relay on traditional patterns of capitalist accumulation, but the problems represent the effects of rapid population growth only under the current modes of capitalist expansion. The negative effect of high fertility on savings has probably been greatly exaggerated, and the problems of providing educational facilities and health care for ever larger numbers of persons have been

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

    Directory of Open Access Journals (Sweden)

    OANA SIMONA HUDEA (CARAMAN

    2012-05-01

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

  9. Decentralization and Economic Growth per capita in Europe

    OpenAIRE

    Crucq, Pieter; Hemminga, Hendrik-Jan

    2007-01-01

    In this paper the relationship between decentralization and economic growth is investigated. The focus is on decentralization from the national government to the highest substate level in a country, which we define as regional decentralization. Section 2 discusses the different dimensions of decentralization. Political decentralization refers to the degree to which central governments allow non-central government entities to implement certain political functions. Fiscal decentralization in a ...

  10. The Analysis of International Migration towards Economic Growth

    OpenAIRE

    Ferdous Alam; Chamhuri Siwar; Basri Talib; Rabiul Islam

    2011-01-01

    Problem statement: This study discusses the analysis of international migration towards economic growth in Bangladesh. International migration refers to the cross-border movement of people from a mother country to a location outside that mother country, with the purpose of taking up higher income employment, better living conditions, higher education get access to civic amenities and conducting a daily existence there for an extended period of time. The exports of labor, human capital, play a...

  11. Analyzing the Impact of Globalization on Economic Growth

    OpenAIRE

    Farid Ullah; Abdur Rauf; Nasir Rasool

    2014-01-01

    Globalization is a buzz word that catches significant importance as a reform agenda post 1980. The current study is an attempt to analyze the impact of globalization on economic growth of Pakistan. The sample period for this study ranges from 1980-2009. For empirical analysis of the study, Autoregressive Distributive Lag model is employed while for data analysis Augmented Dicky Fuller test is applied. It is found that all the variables are stationary at first difference. The empirical finding...

  12. Network effects in a human capital based economic growth model

    Science.gov (United States)

    Vaz Martins, Teresa; Araújo, Tanya; Augusta Santos, Maria; St Aubyn, Miguel

    2009-06-01

    We revisit a recently introduced agent model [ACS, 11, 99 (2008)], where economic growth is a consequence of education (human capital formation) and innovation, and investigate the influence of the agents’ social network, both on an agent’s decision to pursue education and on the output of new ideas. Regular and random networks are considered. The results are compared with the predictions of a mean field (representative agent) model.

  13. The Entropy Law and the impossibility of perpetual economic growth

    OpenAIRE

    Henrique N. S\\'a Earp; Ademar R. Romeiro

    2013-01-01

    Every production-recycling iteration accumulates an inevitable proportion of its matter-energy in the environment, lest the production process itself would be a system in perpetual motion, violating the second law of Thermodynamics. Such high-entropy matter depletes finite stocks of ecosystem services provided by the ecosphere, hence are incompatible with the long-term growth in the material scale of the economic process. Moreover, the complex natural systems governing such stocks respond to ...

  14. Economic Growth and Remittances Inflow: Empirical Evidence from Kyrgyz Republic

    Directory of Open Access Journals (Sweden)

    Nurlan ATABAEV

    2014-11-01

    Full Text Available This article examines the effects of remittances inflow on economic growth in Kyrgyz Republic. We analyzed relationships between the remittances inflow, real GDP, CPI, exchange rate, import and international reserves by using the vector autoregression approach (VAR and monthly data for 2005-2012. As a result it has been found that remittances inflow positively effects on output and import which lasts only for two months and negatively on exchange rate of foreign currency (dollar.

  15. Foreign Remittances and Economic Growth in Pakistan: An empirical investigation

    OpenAIRE

    2013-01-01

    This paper investigates the impact of foreign remittances on economic growth of Pakistan. We use secondary time series data for the period of 1978 to 2011. The multiple regression analysis is used to identify the relationship among the variables. GDP is taken as dependent variable while foreign remittances, FDI, inflation and exchange rate as independent variables. Augmented Dickey Fuller (ADF) test is used to check the stationary of variables and all variables found stationary at...

  16. Testing Transmission Mechanisms on Economic Growth in Malaysia

    OpenAIRE

    Wai Ching Poon

    2010-01-01

    This paper examines various transmission mechanism channels on economic growth in Malaysia over the quarterly period 1980:1-2004:4 using bounds testing approach. The bounds test reveals evidence of cointegration between the real GDP and the real exchange rate and share prices that address the exchange rate and asset price channels as the key transmission mechanisms in the conduct of the monetary policy stance. Nevertheless, the saving interest rate and credit channels are of insignificant.

  17. 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.

  18. 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

  19. Petroleum Profit Tax and Economic Growth: Cointegration Evidence from Nigeria

    Directory of Open Access Journals (Sweden)

    G.N. Ogbonna

    2012-06-01

    Full Text Available This study investigates the impact of petroleum profit tax on the economic growth of Nigeria. To achieve the objective of this paper, relevant secondary data were collected from the Central Bank of Nigeria (CBN and the Federal Inland Revenue Service (FIRS from 1970 to 2010. The secondary data collected from the relevant government agencies in Nigeria were analysed with relevant econometric tests of Breusch-Godfrey Serial Correlation LM, White Heteroskedasticity, Ramsey RESET, Jarque Bera, Johansen Co-integration and Granger Causality. The results show that there exists a long run equilibrium relationship between economic growth and petroleum profit tax. It was also found that petroleum profit tax does granger cause gross domestic product of Nigeria. On the basis of the empirical analysis, the paper concludes that petroleum profit tax is one of the most important direct taxes in Nigeria that affects the economic growth of the country and therefore should be properly managed to reduce the level of evasion by petroleum exploration companies in Nigeria. The paper recommends among others that companies involved in petroleum operations should be properly supervised by the relevant tax authority (FIRS to reduce the level of tax evasion; government should show more accountability in the management of tax revenue and finally, the level of corruption in Nigeria and that of government officials should be drastically reduced to win the confidence of tax payers for voluntary tax compliance.

  20. Measuring economic growth in OPEC countries : A panel data approach

    Directory of Open Access Journals (Sweden)

    Johnson Taiwo Olajide

    2015-04-01

    Full Text Available Most of the developing and under-developed countries have been facing a lot of challenges on the issue of economic growth, despite the fact that they are endowed with both natural and human resources. This study examines the determinants of real per Capita GDP growth in Organization of the Petroleum Exporting Countries (OPEC using a panel of twelve countries for the period of 1986 and 2010.The pooled Ordinary Least Squares (OLS, Fixed Effect (FE and Random Effect (RE models were employed to assess the relationship between CGDP and other economic variables used. The result showed that price level of consumptions (pc and investment share (ci are the important factors of CGDP that contribute to the economic growth of OPEC countries. The result also established that exchange rate (Xrat, price of GDP (p, purchasing power parity (ppp and ci have a positive influence on CGDP. The test statistic revealed that Random Effects Model (REM estimator is more efficient than OLS and that there is no significance difference between Fixed Effects Model (FEM and REM estimators.

  1. Redefining Economic Policy and Institutional Reform – Support for Economic Growth

    Directory of Open Access Journals (Sweden)

    Coralia ANGELESCU

    2010-12-01

    Full Text Available The paper addresses the effects of economic crisis fromthe perspective of theoretical developments and how they were reflectedin the economy, both nationally and among the actors of the internationalsystem. Basic economic paradigms such as the role of price as amechanism regulating the operation of free markets and the ability todetermine prices to reflect economic developments have been tested invarious markets. In the context of limited resources available, due toeconomic contraction it is necessary to redefine accepted socialbalances.The example analyzed in the paper is that of social policies. Intimes of economic expansion, modification of such arrangements, even ifsuboptimal, proves to be difficult because it involves implicit costs, lessvisible. Economic crisis brings out such costs. Changing these socialarrangements requires first the solution and coherent regulatorymechanisms and implementation. They depend on the quality ofinstitutions and social coordination system as a whole. If thesemechanisms are complex national, at supranational level we can addadditional layers of decision, which explains the difficulty of coordination. The degree of consistency in decision-making mechanismsand their quality determine the cost of adapting to new conditionsimposed by the balance.Coordination mechanisms, either national or supranationalcontext, are relevant for redefining of a new balance to streamlineexisting policies (eg social that reflects the crisis and the creation of newarrangements to accommodate new engines economic growth.

  2. China’s Economic Growth 1978-2025: What We Know Today about China’s Economic Growth Tomorrow

    OpenAIRE

    Carsten A. Holz

    2005-01-01

    Views of the future China vary widely. While some believe that the collapse of China is inevitable, others see the emergence of a new superpower that increasingly poses a threat to the U.S. This paper examines the economic growth prospects of China over the next two decades. Extrapolating past real GDP growth rates into the future, the size of the Chinese economy surpasses that of the U.S. in purchasing power terms between 2012 and 2015; by 2025, China is likely to be the world's largest econ...

  3. Evidence on Economic Growth and Financial Development in Montenegro

    Directory of Open Access Journals (Sweden)

    Milena Lipovina-Bozovic

    2016-12-01

    Full Text Available Macroeconomic development must be supported by a stable and efficient financial system. There are many different measures of financial development that are suggested when the relationship between growth and financial system is analyzed. In this paper we will identify the most important indicators of the financial development in Montenegro. Due to the fact that in the last decade Montenegrin financial market has been developing, we want to see if that fact had an influence on the economic growth, as well as if there is significant positive relationship between the growth and financial development. The intention of this article is to use principal components in order to examine correlation among indicators and find means or main components. This technique has the advantage of giving more general measures of financial development rather than individual variables for bank or stock market development. It could be concluded that it is difficult to identify the specific components of the financial system most associated with the economic growth.

  4. Impact of Qualitative Components on Economic Growth of Nations

    Directory of Open Access Journals (Sweden)

    Romuald I. Zalewski

    2011-06-01

    Full Text Available According to theory, innovative activity gives a chance to increase a competitiveness and economic growth of nation. The purpose of this paper is validation of that assumption using the latest data available for EU countries. Data set of indicators include: global innovation index, (GII, European Summary Innovative Index (SII, Ranking of Competitiveness of Nations (in a form of summary as well as subsidiary data and set of macro economy data (GDP, labor productivity, export, export of high-tech, R&D expenditure as [as % of GDP] etc as measures of economic growth. Various regression models: liner, curvilinear, planar or spatial with one or two dependent variables will be calculated and explained. In addition the appropriate 2 D and 3 D-graphs will be used and presented to strengthen verbal arguments and explanation. The main result of this paper is relationship between innovative activity, competitive ability and growth measured as GDP per capita. Such relationship is shown as fairy good linear span of countries. Only two of them: Luxemburg and Norway due to higher than average growth value are outliers. The valuable outcome of this paper is classification of nation into groups: highly innovative- highly competitive, highly competitive-non innovative, highly innovative- non competitive and non innovative – non competitive. The last group of nations fall into trap of low competitiveness.

  5. Scenarios for the risk of hunger in the twenty-first century using Shared Socioeconomic Pathways

    Science.gov (United States)

    Hasegawa, Tomoko; Fujimori, Shinichiro; Takahashi, Kiyoshi; Masui, Toshihiko

    2015-01-01

    Shared socioeconomic pathways (SSPs) are being developed internationally for cross-sectoral assessments of climate change impacts, adaptation, and mitigation. These are five scenarios that include both qualitative and quantitative information for mitigation and adaptation challenges to climate change. In this study, we quantified scenarios for the risk of hunger in the 21st century using SSPs, and clarified elements that influence future hunger risk. There were two primary findings: (1) risk of hunger in the 21st-century greatly differed among five SSPs; and (2) population growth, improvement in the equality of food distribution within a country, and increases in food consumption mainly driven by income growth greatly influenced future hunger risk and were important elements in its long-term assessment.

  6. Modelling the interaction between flooding events and economic growth

    Science.gov (United States)

    Grames, Johanna; Fürnkranz-Prskawetz, Alexia; Grass, Dieter; Viglione, Alberto; Blöschl, Günter

    2016-04-01

    Recently socio-hydrology models have been proposed to analyze the interplay of community risk-coping culture, flooding damage and economic growth. These models descriptively explain the feedbacks between socio-economic development and natural disasters such as floods. Complementary to these descriptive models, we develop a dynamic optimization model, where the inter-temporal decision of an economic agent interacts with the hydrological system. This interdisciplinary approach matches with the goals of Panta Rhei i.e. to understand feedbacks between hydrology and society. It enables new perspectives but also shows limitations of each discipline. Young scientists need mentors from various scientific backgrounds to learn their different research approaches and how to best combine them such that interdisciplinary scientific work is also accepted by different science communities. In our socio-hydrology model we apply a macro-economic decision framework to a long-term flood-scenario. We assume a standard macro-economic growth model where agents derive utility from consumption and output depends on physical capital that can be accumulated through investment. To this framework we add the occurrence of flooding events which will destroy part of the capital. We identify two specific periodic long term solutions and denote them rich and poor economies. Whereas rich economies can afford to invest in flood defense and therefore avoid flood damage and develop high living standards, poor economies prefer consumption instead of investing in flood defense capital and end up facing flood damages every time the water level rises. Nevertheless, they manage to sustain at least a low level of physical capital. We identify optimal investment strategies and compare simulations with more frequent and more intense high water level events.

  7. Energy consumption and economic growth revisited in African countries

    Energy Technology Data Exchange (ETDEWEB)

    Eggoh, Jude C.; Bangake, Chrysost; Rault, Christophe [Orleans Univ. (France). LEO

    2011-09-15

    The aim of this paper is to provide new empirical evidence on the relationship between energy consumption and economic growth for 21 African countries over the period from 1970 to 2006, using recently developed panel cointegration and causality tests. The countries are divided into two groups: net energy importers and net energy exporters. It is found that there exists a long-run equilibrium relationship between energy consumption, real GDP, prices, labor and capital for each group of countries as well as for the whole set of countries. This result is robust to possible cross-country dependence and still holds when allowing for multiple endogenous structural breaks, which can differ among countries. Furthermore, we find that decreasing energy consumption decreases growth and vice versa, and that increasing energy consumption increases growth, and vice versa, and that this applies for both energy exporters and importers. Finally, there is a marked difference in the cointegration relationship when country groups are considered. (orig.)

  8. Does Misaligned Currency Affect Economic Growth? – Evidence from Croatia

    Directory of Open Access Journals (Sweden)

    Tonći Svilokos

    2014-12-01

    Full Text Available The main objective of this paper is to measure the currency misalignment of the Croatian kuna and to reveal whether it affects economic growth for the period 2001 (Q1 to 2013 (Q3. The estimate relies on recent cointegration techniques, VAR models and Granger causality tests. The findings show that there are two misalignment sub-periods for the Croatian kuna: undervaluation in the period from 2000Q1 to 2007Q4 and overvaluation in the period from 2008Q1 to 2013Q3. The evidence reveals that for the whole sample period, the Granger causality goes from misalignments (MISA to GDP growth under the 10 percent significance level. However, for the two sub-periods no evidence of Granger causality from MISA to GDP growth or vice versa is found. The research also reveals that the currency misalignments in the observed period are relatively small.

  9. The Impact of Services on Economic Complexity: Service Sophistication as Route for Economic Growth

    Science.gov (United States)

    Utkovski, Zoran; Kocarev, Ljupco

    2016-01-01

    Economic complexity reflects the amount of knowledge that is embedded in the productive structure of an economy. By combining tools from network science and econometrics, a robust and stable relationship between a country’s productive structure and its economic growth has been established. Here we report that not only goods but also services are important for predicting the rate at which countries will grow. By adopting a terminology which classifies manufactured goods and delivered services as products, we investigate the influence of services on the country’s productive structure. In particular, we provide evidence that complexity indices for services are in general higher than those for goods, which is reflected in a general tendency to rank countries with developed service sector higher than countries with economy centred on manufacturing of goods. By focusing on country dynamics based on experimental data, we investigate the impact of services on the economic complexity of countries measured in the product space (consisting of both goods and services). Importantly, we show that diversification of service exports and its sophistication can provide an additional route for economic growth in both developing and developed countries. PMID:27560133

  10. The Impact of Services on Economic Complexity: Service Sophistication as Route for Economic Growth.

    Science.gov (United States)

    Stojkoski, Viktor; Utkovski, Zoran; Kocarev, Ljupco

    2016-01-01

    Economic complexity reflects the amount of knowledge that is embedded in the productive structure of an economy. By combining tools from network science and econometrics, a robust and stable relationship between a country's productive structure and its economic growth has been established. Here we report that not only goods but also services are important for predicting the rate at which countries will grow. By adopting a terminology which classifies manufactured goods and delivered services as products, we investigate the influence of services on the country's productive structure. In particular, we provide evidence that complexity indices for services are in general higher than those for goods, which is reflected in a general tendency to rank countries with developed service sector higher than countries with economy centred on manufacturing of goods. By focusing on country dynamics based on experimental data, we investigate the impact of services on the economic complexity of countries measured in the product space (consisting of both goods and services). Importantly, we show that diversification of service exports and its sophistication can provide an additional route for economic growth in both developing and developed countries.

  11. The MDG on poverty and hunger : how reliable are the hunger estimates?

    NARCIS (Netherlands)

    Klaver, M.; Nubé, M.; Rutten, M.M.E.M.; Leliveld, A.H.M.; Foeken, D.W.J.

    2008-01-01

    Two hunger-related indicators are used for tracking progress towards the first Millennium Development Goal (MDG), the eradication of extreme poverty and hunger, with one of the targets being to halve the proportion of people suffering from hunger by 2015 as compared to 1990. The prevalence of people

  12. The MDG on poverty and hunger : how reliable are the hunger estimates?

    NARCIS (Netherlands)

    Klaver, M.; Nubé, M.; Rutten, M.M.E.M.; Leliveld, A.H.M.; Foeken, D.W.J.

    2008-01-01

    Two hunger-related indicators are used for tracking progress towards the first Millennium Development Goal (MDG), the eradication of extreme poverty and hunger, with one of the targets being to halve the proportion of people suffering from hunger by 2015 as compared to 1990. The prevalence of people

  13. Institutions, regulatory role and economic growth of national economies

    Directory of Open Access Journals (Sweden)

    Mladen Vedriš

    2008-12-01

    Full Text Available In the present time, characterized by the rapid disturbances in all time more connected global economy, territorially as well as structurally, the role of the state’s influence and responsibility with the adequate institutional addresses and procedures, defined in larger context, becomes the essential point not only of the further growth but also of the existing relations viability. It is simply because the encirclement does not function on the principle of status quo situation any more. Therefore, the role and significance of institutions, adequate regulatory role of these addresses, in the context of demand of permanent and stable economic growth, are of particular interest in the creation of this model. This analysis gains in importance studying the realized accelerated economic growth of states from some parts of the world, notably in the period after WW II. This question turned out to be exceptionally essential during the analysis of national strategies of accelerated economic growth (catch up strategy. On the other side of analysis are the transition period and the processes realized on the territory of the East and Central European states up to 1990 that were under the strong influence of the USSR. The attempts and mistakes in the quest for adequate balance of the market role were initially indoctrinated and led by the predominant conviction that the principles of Washington consensus will lead up to accelerated and efficient change of the entire structure of national economies and new frames for future behaviour. The problems that appeared very soon led to the establishment of significantly more balanced first the understanding and then to establishing significantly, more appropriate concept of balance and complementarity of market development with the permanently present role and responsibility of the state in this process and on this road.

  14. Empirical Analysis on the Determinants of Economic Growth in Shaanxi Province, China

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    Status of economic development in Shaanxi Province is analyzed, showing that Shaanxi Province has achieved the fast and stable economic growth; and total GDP and fixed assets investment have shown a sustainable growth. According to the time series statistics of Shaanxi Province in the years 1978-2008, Cobb-Douglas Function is used to carry out the empirical analysis on the contribution of fixed assets investment and labor input to economic growth of Shaanxi Province, China. Result shows that capital and labor input are the major driving forces for the economic growth of Shaanxi Province. In other words, economic growth mode of Shaanxi Province is still extensive. Economic growth of Shaanxi Province is increasingly dependent on capital investment and technological progress. Contribution rates of capital and labor to economic growth are 66.9% and 33.1%, respectively. Therefore, investment is a source of economic growth in Shaanxi Province through the reform and opening up in the last three decades.

  15. Population Growth, Human Capital Expenditures and Economic Growth: A Macroeconometric Analysis

    OpenAIRE

    Aniceto C. Orbeta Jr

    1992-01-01

    The paper presents an econometrically estimated model where economic and demographic variables are determined simultaneously. It is used to quantify the importance of human capital expenditures in socioeconomic and demographic development as well as analyze the effects of rapid population growth on human capital expenditures. The simulation results indicate that human capital expenditures are important determinants of economic development, have appreciable negative effects on both fertility a...

  16. Economics.

    Science.gov (United States)

    Palley, Paul D; Parcero, Miriam E

    2016-10-01

    A review of literature in the calendar year 2015 dedicated to environmental policies and sustainable development, and economic policies. This review is divided into these sections: sustainable development, irrigation, ecosystems and water management, climate change and disaster risk management, economic growth, water supply policies, water consumption, water price regulation, and water price valuation.

  17. The implications of China's economic growth for the oil sector

    Directory of Open Access Journals (Sweden)

    VASILE POPA

    2014-10-01

    Full Text Available China, the most populated state on the planet, has experienced a spectacular economic growth after 1978, with a mean annual growth rate of G DP of about 10%. Thus, China has become the second largest world economic power. Econ omic development has entailed significant social-economic changes, increasing lif e expectancy and urbanization degree. At the same time, the power demand (oil included has grown considerably and not before long, China has become the largest energy consumer and the seco nd oil consumer in the world. But, being unable to ensure its increasing demands from intern al sources, starting with 1993, China has become a net importer of oil. A good indicator for oil consumption increase is the big number of vehicles that drive along the China’s roads. As the driving force of the economy, the meeting of energy demands is one of the main priorities of eve ry state, but the access to resources may become increasingly difficult if they start to dwin dle, while the technological progress lags behind.

  18. Economic growth and energy regulation in the environmental Kuznets curve.

    Science.gov (United States)

    Lorente, Daniel Balsalobre; Álvarez-Herranz, Agustín

    2016-08-01

    This study establishes the existence of a pattern of behavior, between economic growth and environmental degradation, consistent with the environmental Kuznets curve (EKC) hypothesis for 17 Organization for Economic Cooperation and Development (OECD) countries between 1990 and 2012. Based on this EKC pattern, it shows that energy regulation measures help reduce per capita greenhouse gas (GHG) emissions. To validate this hypothesis, we also add the explanatory variables: renewable energy promotion, energy innovation processes, and the suppression effect of income level on the contribution of renewable energy sources to total energy consumption. It aims to be a tool for decision-making regarding energy policy. This paper provides a two-stage econometric analysis of instrumental variables with the aim of correcting the existence of endogeneity in the variable GDP per capita, verifying that the instrumental variables used in this research are appropriate for our aim. To this end, it first makes a methodological contribution before incorporating additional variables associated with environmental air pollution into the EKC hypothesis and showing how they positively affect the explanation of the correction in the GHG emission levels. This study concludes that air pollution will not disappear on its own as economic growth increases. Therefore, it is necessary to promote energy regulation measures to reduce environmental pollution.

  19. How is China economic growth financed? a look towards SMES

    Directory of Open Access Journals (Sweden)

    Manuel José Aragón Sandoval

    2014-06-01

    Full Text Available The following paper aims to explain the different factors that contribute to the financing the economic activity of small and medium enterprises (SMES in China. The reason for analyzing these types of companies revolves around the fact that they have benefitted its nation´s economy growth. First, an analysis was done in the formal sector, where certain deficiencies were identified specifically in the legal and financial systems and how these deficits hold back the access needed for SMES to join conventional mechanisms of finances. Afterwards, a study of the existence of a financial system, which is parallel to the formal system, emerged, only to realize that this parallel system helped these companies to grow. This is known as an informal economy based on connections and reputation, which acts as a substitute for the traditional formal way. Due to the success of this economy, despite the deficiencie within the legal system of the country, it is important to contemplate and understand the elements which allow this to be sustainable through time. Lastly, various questions arise concerning the future of China as a global economic power. So it was proven that this informal economy is the main reason for their economic growth, but the question to be asked is, until when can this country relay on informality for its success?

  20. 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.

  1. The sustainability and transition of economic growth in China: from a perspective of factor structure

    Institute of Scientific and Technical Information of China (English)

    Wang Yafei; Wu Xiaohang

    2008-01-01

    After more than 20 years' high speed growth, the sustainable growth of Chinese economy faces serious lim-itation of resources and factors now and in the future. In order to maintain the economic growth, China has to trans, form the way of economic growth. Based on the analysis on the related theories of economic growth and the structur-al transformation in factors of production, this paper proposes that the transformation of the economic growth way has to impel the optimization and the promotion of the utilization structure of factors of production. Finally, based on the analysis of the necessity to change the pattern of economic growth, this paper proposes the strategic measures to promote the continuous economic growth and the transformation of patterns of economic growth.

  2. The Role of Human Capital and Population Growth in R&D-Based Models of Economic Growth

    OpenAIRE

    Holger Strulik

    2001-01-01

    Human capital accumulation is introduced in a growth model with R\\&D-driven expansion in variety and quality of intermediate goods andknowledge spillovers from both research activities. Economic growth is no longer uniquely tied to population growth as previous growth models without scale effects suggest. The model predicts that economic growth depends positively on the rate of human capital accumulation and positively or negatively on population growth and is therefore supported by empirical...

  3. INVESTMENT FUNDS’ PERFORMANCE AND ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Apolzan Carmen Maria

    2012-07-01

    Full Text Available In this paper we examine the performance of investment funds during the period 2006-2010, intending to comprise the portfolio performance’s dynamics before, during and after the present economic and financial crises climax. We categorize investment funds according to their investment strategy and geographical focus and distinguish a number of 11 classes. In order to analyze their returns’ dynamics, we create a fund performance index for each category using principal components method. The instability created in financial system in 2007 had a direct impact on institutional investors’ portfolios regardless of investment strategy, effects that have rapidly propagated on real economy. Analyzing index’s dynamics correlated with economic growth we conclude that financial and economic environment react in the same direction, but with a certain time delay, to instability factors. We also underline the major impact of boom and bust evolution of financial markets on real economy, cause of the current economic and financial crises.

  4. ENTREPRENEURSHIP SUPPORT OF ECONOMIC GROWTH IN CHINA (I

    Directory of Open Access Journals (Sweden)

    Severian Vladut IACOB

    2015-02-01

    Full Text Available Economic growth over the past three decades in China has captured the interest of the whole world. Many nations, governments, business and science look admiringly to "Chinese miracle". The performance of this country is the more remarkable as it includes, besides the effort to go beyond a developing country and the transition from a communist economy to the market economy. "Chinese development model", whereof spoken more and  more in this period is unclear due to some nuances not really classical approach to development paradigm, which focuses on promoting democracy, human rights privatization, liberalization and the fight against corruption. Through the new model, some authors, starting from high authority of the state over property and finances, assigns to it a key role in economic growth. From their point of view, the strong boom of the private sector in China is the result of the opening provided by the state and not as a prerequisite for development. This perception is unpopular but other authors who argue that "the Chinese success had as basic ingredients exactly private entrepreneurship, private property, financial and even political reforms, though not always apparent at first glance." This study made ​​a brief foray into Chinese entrepreneurship development, opening new possibilities of deepening towards understanding how it managed to contribute to the development and growth of the country.

  5. Long-Run Implications of Public Debt on Economic Growth

    Directory of Open Access Journals (Sweden)

    Ion Lucian Catrina

    2011-04-01

    Full Text Available Many European countries faced with large fiscal deficits have adopted great plans ofausterity to limit their public debt. In Romania, despite many measures to reduce public sector wagesand some social allowances, in the 2009 and 2010 has been recorded only a small contraction ofgovernmental expenditure but a fast growing public debt. However, the main effects of the austeritymeasures have materialized in a significant reduction in domestic demand and an important reductionof gross domestic product. Also, despite a substantial reduction of supply, the unemployment rate hasnot exceeded 8% in Romania. This paper aims to analyze how much the policies restricting budgetdeficit and public debt in Romania delayed the resumption of economic growth. Even the euroadoption perspective impose a stricter management of Romanian budgetary policies and othernominal convergence criteria, the hard core of economic policies must be the reinventing a new pathto sustainable growth. It is necessary to conclude a new financing agreement with IMF for the nexttwo years? We also intend to test the tolerance degree of the Romanian economy to public debtexpansion (according to Reinhart&Rogoff model, 2010 as reflected in the growth rate of real grossdomestic product.

  6. THE INFLUENCE OF THE ECONOMIC GROWTH ON THE BIRTH RATE

    Directory of Open Access Journals (Sweden)

    SAVU MIHAELA

    2013-02-01

    Full Text Available The changes occurred over time in the population have effects on the economy, especially the reductions in thebirth rate which may lead to disturbances in the population structure. The relationship between the economic growthand the birth rate in Romania is analysed over an 11-year period, in order to see its intensity. The presentation of theevolution of the gross domestic product and of the birth rate is completed by the calculation of the Spearmancoefficient for determining the intensity of the relationship between the two indicators. The decrease of the birth rate isdetermined, to a modest extent, by the economic growth, with a wide range of factors that influence it. In this situation,the establishment and implementation of a birth rate recovery strategy is highly necessary to reduce the imbalancecreated in the population structure.

  7. SPORTS INDUSTRY – A POTENTIAL NEW SOURCE OF ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Marian STAN, PhD Student, Free International University of Moldova

    2016-08-01

    Full Text Available The aim of the paper is to study the impact of sports industry on the economic growth of a country, with a further perspective for the Republic of Moldova. The novelty consists in the necessity of a wider research of the activities of sports organizations and their impact on the economic activities within a country, as there are existing worldwide examples that could serve as a strong argument in this case. The results were achieved using the following methods: statistical, analytical, comparison, etc. Understanding that modernization of the sport industry is necessary for any country, including the Republic of Moldova could result in the determination of the linkage between sports and further development of the country.

  8. Achieving Economic Growth in the EU Through Lobbyism

    DEFF Research Database (Denmark)

    Svendsen, Gert Tinggaard; Brandt, Urs Steiner

    2009-01-01

    At Lisbon in 2000, the European Union (EU) set itself a new strategic goal, namely to become the world's leading economy and to enhance social cohesion across the union, all within a decade. It is argued in this article that one fundamental barrier to the fulfilment of this dream is the fact that...... bureaucrats. Such constitutional change and decentralisation of power would increase the costs of lobbyism in particular and thereby reduce distortions of policy outcomes, clearing the road for free-trade policies and economic growth in the new millennium....... that power is centralised in the Commission rather than the Parliament. The basic idea upon which our theoretical model is predicated is that a political system that centralises power lowers the cost of rent-seeking and therefore leads to a more economically harmful redistribution, as reflected in the annual...

  9. THE IMPACT OF PUBLIC DEBT ON ECONOMIC GROWTH WITHIN EU

    Directory of Open Access Journals (Sweden)

    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.

  10. Fertility, Human Capital, and Economic Growth over the Demographic Transition.

    Science.gov (United States)

    Lee, Ronald; Mason, Andrew

    2010-05-01

    Do low fertility and population aging lead to economic decline if couples have fewer children, but invest more in each child? By addressing this question, this article extends previous work in which the authors show that population aging leads to an increased demand for wealth that can, under some conditions, lead to increased capital per worker and higher per capita consumption. This article is based on an overlapping generations (OLG) model which highlights the quantity-quality tradeoff and the links between human capital investment and economic growth. It incorporates new national level estimates of human capital investment produced by the National Transfer Accounts project. Simulation analysis is employed to show that, even in the absence of the capital dilution effect, low fertility leads to higher per capita consumption through human capital accumulation, given plausible model parameters.

  11. The Public Finance Stance and the Economic Growth: the Case of European Union

    OpenAIRE

    2007-01-01

    This paper is studying the impact of public budget deficit on the economic growth. We have tested the connection between budget deficit and economic growth, using econometrical analysis (the Pool Data Model). Within this framework, we have quantified the intensity of connections between public budget deficit and economic growth in the case of European Union 25.

  12. Study on Economic growth, Urbanization and Sustainable Utilization of Cultivated Land in China

    Institute of Scientific and Technical Information of China (English)

    Wu Qun; Guo Guancheng; Fan Li

    2004-01-01

    By means of the dynamic regression model, this paper analyzes the relationships among economic growth, urbanization and changes of cultivated land in China, finds that the ratio of cultivated land occupied by economic growth is decreasing with social and economic growth. And,based on that, some policy suggestions on how to promote the sustainable use of cultivated land in China are put forward.

  13. Hunger among Inuit children in Canada

    Directory of Open Access Journals (Sweden)

    Leanne C. Findlay

    2013-04-01

    Full Text Available Background and objectives. Inuit populations may be at increased risk for experiencing poor nutrition or hunger due to limited access and availability to food. The prevalence and correlates of parental perceptions of hunger among a nationally representative sample of Inuit children in Canada have not yet been reported. Design. Data are from the 2006 Aboriginal Children's Survey (ACS. Sociodemographic information, dietary behaviours and hunger status were parent-reported via a household interview for Inuit children aged 2–5 years (n=1,234. Prevalence of hunger was calculated among Inuit children by sociodemographic factors and by dietary behaviours. In addition, a multivariate logistic regression model was conducted to determine factors associated with parental perception of ever experiencing hunger. Results. The prevalence of Inuit children in Canada aged 2–5 years ever experiencing hunger was 24.4%. Children who were reported to have experienced hunger consumed milk and milk products (p<0.001; fish, eggs and meat (p<0.05; fruits (p<0.001; and vegetables (p<0.001 significantly less often than never-hungry children. Fast food and processed foods, soft drinks and juice, and salty snacks, sweets and desserts were consumed as often as never-hungry children (all p>0.05. The majority (81% of Inuit parents/guardians of ever-hungry children sought help from family or friends. Factors associated with an increased likelihood of experiencing hunger include sociodemographic characteristics (such as income and household size, living in an Inuit region and living in a community with cultural activities. Conclusion. About 1 in 4 Inuit children were reported by their parents to have experienced hunger, and hunger was associated with region, sociodemographic and community factors. Future research could further examine the impact of ever experiencing hunger on the health status of Inuit children and their families in Canada.

  14. THE ROLE OF MONETARY POLICY IN STIMULATING ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Егор Николаевич Поляков

    2013-06-01

    Full Text Available The paper reviews the conduct of monetary policy in Russia throughout last 10 years. The core method of analysis is ADL modeling. The author explains money supply influence on key macroeconomic variables: investment, consumption, import, inflation, REER. Specifically our results show to what extent GDP growth is determined by money supply growth throughout last 10 years. The author explains efficiency fall of Central Bank expansionary actions throughout last 5 years. The author suggests the set of decisions geared towards increasing the monetary policy efficiency. Ruble devaluation is a key of them.In particular, now the Central Bank of Russia and the Government of the following may be recommended:- gradual devaluation of the ruble by operations in the currency market you with the sterilization of excess money supply;- reduction in the rate of growth of tariffs for electricity, gas, of rail transport to the level of inflation;- reduction in the rate of growth of budget expenditures to the level of inflation.According to the author, these measures will allow monetary policy to revive Russia as an effective tool to stimulate economic growth.DOI: http://dx.doi.org/10.12731/2218-7405-2013-5-9

  15. THE ROLE OF MONETARY POLICY IN STIMULATING ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Polyakov Egor Nikolaevich

    2013-05-01

    Full Text Available The paper reviews the conduct of monetary policy in Russia throughout last 10 years. The core method of analysis is ADL modeling. The author explains money supply influence on key macroeconomic variables: investment, consumption, import, inflation, REER. Specifically our results show to what extent GDP growth is determined by money supply growth throughout last 10 years. The author explains efficiency fall of Central Bank expansionary actions throughout last 5 years. The author suggests the set of decisions geared towards increasing the monetary policy efficiency. Ruble devaluation is a key of them. In particular, now the Central Bank of Russia and the Government of the following may be recommended: - gradual devaluation of the ruble by operations in the currency market you with the sterilization of excess money supply; - reduction in the rate of growth of tariffs for electricity, gas, of rail transport to the level of inflation; - reduction in the rate of growth of budget expenditures to the level of inflation. According to the author, these measures will allow monetary policy to revive Russia as an effective tool to stimulate economic growth.

  16. 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.

  17. 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

  18. Financial Market’s Contribution to Economic Growth in Romania

    Directory of Open Access Journals (Sweden)

    Ioana Andrada MOLDOVAN (GAVRIL

    2015-09-01

    Full Text Available Modern economies are characterized, among other things, by developed financial sectors. This reality has stimulated scientific research on identifying correlations between the level of financial market development and economic growth, especially for emerging countries. Romania is an interesting case to question the correlation between financial markets and economic growth, as it recently acquired the status of a functioning market economy and joined the complex of high economic development given by the EU. Using VECM modelling, as well as Wald and Granger causality tests, this paper analyses the nature and direction of causal relationships between the real economy and the financial sector in Romania, both on the short and long run. This paper is based on the Anglo-Saxon approach of the financial market, according to which it includes money market and capital market, and our econometric analysis takes into account both monetary and capital market components, in identifying correlations with the real economy. The results show that on the long run, between real GDP and credit to the private sector there is a one-way relationship, namely real GDP influences credit, but not vice versa. Also, on the long run, there is no correlation between market capitalization and real GDP. However, on the short run, there is a unidirectional causality from credit to real GDP, and also from real GDP to market capitalization. The results of the econometric analysis show that, in Romania, the financing function is met almost entirely by the banking system, while the capital market is small and does not fulfil yet the function of financing the real economy. Despite these empirical evidences, the author considers that the development of capital market is a sine qua non condition for modernizing the Romanian economy, by increasing funding potential and enhancing competition in the financial market. The author claims the need for government support and recommends economic

  19. Entrepreneurship: a Source of Economic Growth in EU

    Directory of Open Access Journals (Sweden)

    George Strambeanu

    2011-05-01

    Full Text Available As the global recession evolved, The European Union faced new difficulties mainly in the form of financial problems and access to capital, but an important negative effect of this crisis is the fact that hundred of thousands of jobs were lost and hundred of thousands of businesses bankrupt. So in this research we tried to show how boosting entrepreneurship can bring The EU into an economic growth premise, by creating new jobs and new business. Also we stated some key measures that can be adopted by EU authorities in order to develop and support entrepreneurship.

  20. The Relationship between Electricity Consumption and Economic Growth in China

    Science.gov (United States)

    Shengfeng, Xiao; sheng, Xu ming; tianxing, Zhu; xuelli, Zhang

    This paper examine the short and long terms causal relationship between electricity consumption and real GDP in China through vector error correction model, which can avoid the false causal relationship. The results of the VECM reveal the co-integration relationship between real GDP and electricity consumption and the presence of unidirectional causality from electricity consumption to economic growth in the short-run and long-run, which is subsequently verified in two different sub-phases. And then we come up with some suggestions that China should modulate the supply structure of electric power and pick up speed to adjust industry structures.

  1. A mean-field game economic growth model

    KAUST Repository

    Gomes, Diogo A.

    2016-08-05

    Here, we examine a mean-field game (MFG) that models the economic growth of a population of non-cooperative, rational agents. In this MFG, agents are described by two state variables - the capital and consumer goods they own. Each agent seeks to maximize his/her utility by taking into account statistical data about the whole population. The individual actions drive the evolution of the players, and a market-clearing condition determines the relative price of capital and consumer goods. We study the existence and uniqueness of optimal strategies of the agents and develop numerical methods to compute these strategies and the equilibrium price.

  2. Economic Growth in India: Does Foreign Direct Investment Inflow Matter?

    OpenAIRE

    Dukhabandhu Sahoo; Maathai K. Mathiyazhagan

    2002-01-01

    This paper examines the role of Foreign Direct Investment (FDI) in promoting economic growth via export promotion by using quarterly data relating to the period 1991-I to 2000-IV. The study uses the Johansen co-Integration test, and the results demonstrate that there is a long-run relationship between Gross Domestic Product (GDP), FDI, and Export (EX) and Industrial Production (IIP), FDI, and EX. However, the elasticity coefficients between FDI and GDP and FDI and IIP turned out to be negativ...

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

    Directory of Open Access Journals (Sweden)

    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

  4. Special Economic Zones as Growth and Anti-growth Poles as Exemplified by Polish Regions

    Directory of Open Access Journals (Sweden)

    Hanna Godlewska-Majkowska

    2016-12-01

    Full Text Available Objective: The objective of this paper is to present the effects of special economic zones (SEZ on the polarisation of public economic space in Polish regions. Research Design & Methods: The paper looks at both positive and negative effects of economic zones on the polarization of economic space in Polish regions. In an empirical analysis of internal and external effects of SEZs growth centres are identified. Centre of the polarised region, as a source of development incentives, characterised with a higher growth dynamics in comparison to the other part of the region is identified as a growth pole; while the centre of a polarised region being a source of crisis factors higher than in the region is identified as an anti-growth pole. Findings: In the result of conducted studies 8 growth poles, 19 centres of unstable economic situation have been identified, anti-growth poles has not been identified. Factors that result in the polarisation as well as its positive and negative characteristics were identified. Implications & Recommendations: The new model, which captures growing changes and can activate an appropriate action aimed at avoiding crisis can be used as a potential early warning system by the authorities of territorial units. Contribution & Value Added: The originality of this work lies in proposing a new methodological approach to identify poles and anti-poles. This approach can be applied for various tiers of taxonomic division for regions in various countries and forms of public aid.

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

    Science.gov (United States)

    Kümmel, Reiner; Lindenberger, Dietmar

    2014-12-01

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

  6. Position of the American Dietetic Association: Addressing world hunger, malnutrition, and food insecurity.

    Science.gov (United States)

    Struble, Marie Boyle; Aomari, Laurie Lindsay

    2003-08-01

    It is the position of the American Dietetic Association (ADA) that access to adequate amounts of safe, nutritious, and culturally appropriate food at all times is a fundamental human right. Hunger continues to be a worldwide problem of staggering proportions. The Association supports programs and encourages practices that combat hunger and malnutrition, produce food security, promote self-sufficiency, and are environmentally and economically sustainable. The Association is aware that hunger exists in a world of plenty and that poverty, gender inequity, ethnocentrism, racism, and the lack of political will are key constraints to solving the problems of global hunger and malnutrition. Recognizing that simplistic approaches are inadequate, the ADA identifies sustainable development as the long-term strategy to ending world hunger and achieving food security. Sustainable development requires political, economic, and social changes that include empowering the disenfranchised, widening access to assets and other resources, narrowing the gap between rich and poor, and adjusting consumption patterns so as to foster good stewardship of nature. Additionally, because the health status of future generations is related to the well-being of their mothers, achieving food security will also require increased access for women to education, adequate health care and sanitation, and economic opportunities. This position paper reviews the complex issues of global food insecurity and discusses long-term solutions for achieving world food security. Achieving the end of world hunger has been and is now within our grasp. There is sufficient food to feed everyone, and solutions can be realized now that will benefit all of humanity. As noted in the paper, most people who examine the costs of ending versus not ending world hunger are bewildered by the question of why humanity did not solve the problem a long time ago. The Association supports programs and encourages practices that combat

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

    Science.gov (United States)

    Banguero, H

    1983-05-01

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

  8. From scientific progress to economic growth the economics and the economy of science

    CERN Document Server

    Witte, Frank

    2017-01-01

    he past few centuries have seen an enormous increase in living standards in many parts of the world and these economies have become more complex than ever before. At the same time, progress in science and technology has reached unprecedented heights, taking us far beyond the wildest dreams of a few generations ago. Questions as to how science, technology and the economy interact are pertinent and important ones, whose partial answers require a view "from across the fence" between disciplines. This book provides an introduction to the vast and varied field of the economics of science. It is a unique blend of an economic perspective on the way science works, what makes scientists tick, and a study of the impact of scientific and technological progress on economies and their growth. Whether it is about the speculative market of ideas or science and technology as engines of the economy, there is something here for economists, engineers and scientists alike.

  9. The importance of electrical energy for economic growth in Barbados

    Energy Technology Data Exchange (ETDEWEB)

    Lorde, Troy; Francis, Brian [Department of Economics, University of the West Indies, Cave Hill Campus (Barbados); Waithe, Kimberly [Research and Planning Unit, Ministry of Economic Affairs, Warrens, St. Michael (Barbados)

    2010-11-15

    Using a neo-classical aggregate production model where capital, labour, technology, and energy are treated as separate inputs, this paper tests for the existence and direction of causality between output growth and electrical energy use in Barbados, analysed as a whole and in sectors respectively. Results indicate the presence of a long-run relationship between growth and electricity consumption; specifically we find that the non-residential sector is a key driver of growth. In addition, the evidence reveals a bidirectional causal relationship between electrical energy consumption and real GDP in the long run, but only a unidirectional causal relationship from energy to output in the short run. Forecasts indicate increasing consumption of electrical energy, particularly by the residential sector. We suggest that plans by the Government to liberalise the sector should encourage efficiency and innovation in production and distribution which should result in lower prices, as independent suppliers compete to maintain their market shares. Changes in the regulatory environment will also be necessary if such plans materialise. Policymakers will need to pay greater attention to the expected increase in the rate of consumption by the residential sector, as this will help to reduce the imports of oil and depletion of scarce foreign exchange resources by a sector that does not spur economic growth. An increase in energy capacity should be encouraged as contingency planning in the event of a technical or political disruption to fuel imports will be critical, notwithstanding the drive to use more renewable sources of energy. (author)

  10. REFERENCES OF THE NEW THEORY OF TRADE AND ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Spiridon Pralea

    2012-12-01

    Full Text Available This paper shows that the dynamization of the traditional theory of international trade through the study of growth effects on the foreign trade in the framework of neoclassical analysis, alongsidethe approach with the Keynesian toolkit of the role of foreign trade as a factor of growth, have constituted the main aspects of the new theory of trade and economic growth. The “new theory” basically represents a set of theories and models of the type “growth-led export” or “export-led growth”, which explain the complex role of foreign trade in the dynamic of development, the new segments of international trade, and also provides base for trade strategies for development. Their typology includes: “import-substitutionstrategy”, “export-promotion strategy”, and more recently “outward oriented strategy”. In the context of regionalization and globalization of competition the author believes most appropriate the states’ option for a “outward - oriented competitive development strategy”.

  11. External Debt and Economic Growth: Evidence from Nigeria

    Directory of Open Access Journals (Sweden)

    Lawal Isola Adedoyin

    2016-12-01

    Full Text Available The study examined the impact of external debt on economic growth in Nigeria for the period 1981-2014 based on annual data sourced from the Central Bank of Nigeria (CBN Statistical Bulletin (various issues and abstract of National Bureau of Statistics (NBS. The researcher examined the existence of Co-integration among the underlying variables using Auto-regressive Distributed Lag (ARDL model after conducting preliminary statistical test to ascertain the normality of the variables as well as stationary of the data set using descriptive and unit root tests. The result of the ARDL test shows that a significant relationship exists between external debt and economic growth both at the long and short run. The study also examined the causality among the variables using Granger causality test and observed that no causality exist among the variables. The study therefore recommends that government should ensure that loans obtained are used to finance profitable projects that would generate reasonable amount of revenue to service the debts and also adequate record of debt payment obligations should be kept and debt should not be allowed to exceed a maximum limit in order to prevent debt overhang.

  12. Natural resources as a factor of economic growth in Kosovo

    Directory of Open Access Journals (Sweden)

    Haki Shatri

    2015-11-01

    Full Text Available In the history of the economic growth, there are numerous examples of countries that have developed based on their available natural resources. Especially, these assets have been the propulsion of the development in the initial period. But we also find some cases where countries with limited natural resources have experienced dynamic economic development. Kosovo is the last federal unit dismembered from former Yugoslavia after a decade under Milosevic’s Serbian regime and a two years’ war. International intervention and the inclusion of the country under an international protectorate created the conditions for the development of devastated economy by war and the robbery to be recovered together with the creation of institutional and economic infrastructure (Lidhja e Ekonomistëve të Kosovës, 1996. Under these conditions, everything had to start from scratch. The only development factor that Kosovo possessed was the human factor - age structure and the abundant natural resources, especially in key sectors such as the energy and in mining and minerals, agriculture and tourism. Thus it is sustainable the conclusion that “The rapid and sustainable economic and social development of Kosovo depends substantially from the implementation of the appropriate policies and suitable economic reforms that enable more rational use of its natural and human resources”. The list of the available resources of Kosovo is long. Kosovo possesses significant amount of all mineral raw materials in both quality and quantity terms. Among the most important raw materials have been ranked the power-lignite mining that is stretched into three basins and it is estimated to be around 9 billion exploitable tons (Kelmendi, 2012. Kosovo also owns mineral resources which are found in the Trepca’s Metals basin. The geological researches show favorable conditions of exploitation and high quality of the ore. Mainly one can found the lead, zinc, silver and other

  13. Racial Segregation, Economic Growth, and Resilience to Natural Disasters

    Science.gov (United States)

    Fernandez, S.; Li, H.; Ganguly, A.

    2008-05-01

    Resilience to natural disasters is often defined as the ability of a community to recover from disaster disruption. Thus, resilience depends on various socioeconomic factors which influence the short- and long-term impacts of natural disasters as well as the resources that a community can bring to bear on the recovery process. One objective of this research is to tease out the determinants of resilience from a variety of possible indicators and data sources. A second objective is to test hypotheses which in turn are based on prior reports in the literature: Racial segregation has a negative impact, while economic growth has a positive impact, on resilience. We choose the Biloxi-Gulfport-Pascagoula, MS Metropolitan Area, and New Orleans Metropolitan Area, for our case studies. The study areas included nine counties and parishes that are located in the Hurricane Katrina impact area. The nine counties and parishes were Hancock County, Harrison County, and Jackson County in Mississippi, and Jefferson Parish, Orleans Parish, Plaquemines Parish, St. Bernard Parish, St. Charles Parish, and St. Tammany Parish in Louisiana. The three counties make up the Biloxi-Gulfport-Pascagoula, MS Metropolitan Area, and the six parishes are components of New Orleans Metropolitan Area. The determinants of resilience for this study were based on two considerations. First, we followed the political, military or security, economic, social, informational and infrastructural (PMESII) framework, which succinctly describes the resources available to a community. Second, we were pragmatically constrained by data availability. Five variables were selected as plausible determinants of resilience: (i) return of the original population, (ii) employment recovery, (iii) tax collected, (iv) building permit restoration, and (v) school re-opening information. The five variables were found to be highly correlated. We created three resilience indices, one by simple addition, another by addition of the

  14. Economic growth and intangible capitals: Europe versus Asia

    Directory of Open Access Journals (Sweden)

    Navarro José-Luis Alfaro

    2014-01-01

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

  15. Tourism and Economic Growth in Latin American Countries: A Panel Data Approach

    OpenAIRE

    Eugenio-Martín, Juan Luis; Morales, Noelia Martín; Scarpa, Riccardo

    2004-01-01

    We consider the relationship between tourism and economic growth for Latin American countries since 1985 until 1998. The analysis proposed is based on a panel data approach and the Arellano-Bond estimator for dynamic panels. We obtain estimates of the relationship between economic growth and growth in tourists per capita conditional on main macroeconomic variables. We show that the tourism sector is adequate for the economic growth of medium or low-income countries, though not necessarily for...

  16. IN TURKEY ECONOMICS CAUSALITY RELATIONSHIP AMONG ECONOMIC GROWTH, EXPORT AND EXIMBANK LOANS: 2002- 2015

    Directory of Open Access Journals (Sweden)

    Serpil ERGÜN BÜLBÜL

    2016-08-01

    Full Text Available In this study, the causality relationship among economic growth, exports and Eximbank loans was examined by using the data that Turkey’s post-transition program to strong economy in the period (2002:Q1-2015:Q3. In the context of causality process, firstly, stationarity is investigated by using Augmented Dickey-Fuller (ADF unit root test, long-term relationship is investigated by using Johansen co-integration test and then causality relationship is examined by using Granger test and impulse response analysis is carried out.According to the results of causality analysis, a bidirectional causality between exports and economic growth and a unilateral causality from exports to Eximbank loans have been obversed. In the results of cointegration analysis, a long-term relationship between exports and Eximbank loans could not be detected. Also it was analyzed by impulse-response analysis with the help of graphs how each variables reacts to different shock in 8 quarters.

  17. Economic growth and urbanization: a study of Japan.

    Science.gov (United States)

    Shishido, H

    1982-10-01

    In Japan economic growth and urbanization have occured within a dualistic framework in which modern (imported) and traditional (indigenous) elements coexist, and their interaction has essentially determined the pattern of industrialization. Japan's economic growth has influenced and been influenced by the shifts of population from primary to nonprimary activities and from traditional nonprimary to modern nonprimary activities. By simulating with a computable general equilibrium model calibrated with 1960 data, insight into this process is provided. This kind of model analyzes urbanization and industrialization by examining the mobility of factors of production as a response to various rates of return. The mobility described is primarily intersectoral but a certain share of the laborers who shift from primary to nonprimary is assumed to stay within the rural areas. The size of this share is a function of agricultural and various nonagricultural wage rates. The model used is described and the results of various dynamic sensitivity analyses are reported. The model is a 6-sector computable general equilibrium model, similar to the model by Karlstrom. Only the distinctly different specifications are described here. These include: sector divisions and use of vintage capital in some sectors; macro closure; wage determination; investment determination; migration determination; and import determination. 4 lessons can be learned from the set of experiments presented here. The inclusion of spatial aspects of population movements into the model offers insight into the different sectoral developments, but for macroeconomic effects a careful inclusion of spatially differentiated social capital becomes important. Expanded investment in either nonagricultural or agricultural sectors increases migration with the latter lagging behind the former. The share of laborers remaining in rural areas who have left agricultural employment goes up monotonically in the urban modern sector

  18. Economic Effect of China’s Rural Financial Market Growth during 1952-2013

    Institute of Scientific and Technical Information of China (English)

    Xi HE; Siyuan LONG

    2016-01-01

    Through study,it is found that since 1952,there has been a long-run equilibrium relationship between China’s rural financial market growth and rural economic growth,the government-led rural financial market growth has effectively supported rural economic growth,and increasing the farmers’ financing ratio has always helped to boost long-term growth of the rural economy.However,dominated by market mechanism from 1978,there is only one-way support relationship:rural economic growth brings about quantitative growth of rural financial market.

  19. Rethinking of Economic Growth and Life Satisfaction in Post-WWII Japan--A Fresh Approach

    Science.gov (United States)

    Kusago, Takayoshi

    2007-01-01

    Gross Domestic Product (GDP) has been utilized by academics and policy makers to indicate the economic well-being of the people. However, economic growth measures cannot capture fully the overall well-being of the people. This paper has tested quality of economic growth in Japan after World War II as to whether it has brought about positive…

  20. Terms of trade and Italian economic growth: accounting for miracles

    Directory of Open Access Journals (Sweden)

    E. GRILLI

    2013-12-01

    Full Text Available The work argues that post-war political and economic conditions led to the rejection of the pre-war policy of autarchy in favour of an open economy. This decision had implications not only for external trade and payments, but more importantly for the very structure of the Italian industrial sector. The authors show how the performance of this emerging industrial structure was conditioned by the performance of the prices of imported raw material, and subsequently semi-manufactured industrial inputs and the prices at which the final products could be sold in export markets. This so-called industrial terms of trade is combined with the previously existing explanations of post-war growth period that does not have to rely on “miracles” as explanation.

  1. PUBLIC TRANSPORTATION INVESTMENTS AND ECONOMIC GROWTH IN TURKEY

    Directory of Open Access Journals (Sweden)

    Merter Mert

    2017-06-01

    Full Text Available This study calculates the public transportation capital stock for Turkey for the 1980-2003 period. Then those series are used to estimate the effect of public transportation investments on gross domestic product. A similar attempt is made to formulate public capital stock series for various transportation subsystems and I use them to estimate the effect of subsystem investments on the value-added (so, economic growth of the transportation sector. Estimations indicate a positive relationship between public transportation investments and gross domestic product. At the subsystem levels, it is estimated that railway, highway, maritime, airline and pipeline investments have various effects on the value-added of the transportation sector.

  2. Wealth and well-being, economic growth, and integral development.

    Science.gov (United States)

    Bunge, Mario

    2012-01-01

    This essay tackles a bimillenary problem in psychology, ethics, economics, and political philosophy: that of the relations between wealth and well-being. What are they, and should we live for pleasure, or rather seek to live a full and useful life? This is the ancient dilemma between hedonism, the cult of pleasure, and eudemonism, the search for a good life. Economists, almost without exception, have opted for hedonism, but they have not found out what percentage of the goods that ordinary people want are not merchandises. This gap is currently being filled by psychologists, sociologists, socioeconomists, and other workers in the new "science of happiness". Their main finding, that happiness is not for sale, might surprise the orthodox economists. On the social level, the former problem, concerning individuals, gets translated into the question of national development: what kind of development should we seek, and for whom? In particular, should economic growth be prioritized, or should we promote the simultaneous development of all sectors of society, including the political and cultural? In either case, should development benefit the chosen few or everybody? And should it enhance the well-being of the individual and make that of her offspring possible? This problem, of course, lies at the intersection of three sciences--psychology, economics, and political science--and two chapters of philosophy--ethics and political philosophy. Consequently, anyone daring to propose original solutions to the problem in question will risk being criticized by experts distributed among these five fields, who are not used to talking to one another.

  3. Intellectual property: A strong determinant of economic growth

    Directory of Open Access Journals (Sweden)

    Munmun Rai

    2009-01-01

    Full Text Available The returns from almost all human endeavors can ultimately be translated into monetary gains. The past few years have seen increased attention paid to the strengthening of intellectual property rights due to globalization. The development of Intellectual property rights (IPR over the years has invariably brought an upsurge in the outlook of nations toward the aspect of societal and cultural growth, this being said with the preliminary assumption that economic growth has been the most affected realm and that it requires a separate spectrum of analysis. The artifacts between the IP regime and the national economy can be easily interpreted by the fact that India′s independence had itself brought an era where the enactment of the national IP laws were considered to stand on the touchstone of the market economy. The aim of the present article is to investigate the impact of a strong IP regime on the economic development of a nation and also a light is raised into Indian economy, and the creation of an efficient innovative system is discussed. A strong relation of the IPR with the pharma and biotech sectors has been discussed. Undoubtedly, the Intellectual property (IP systems must be developed so as to bring in socioeconomic well-being. The fact that a strong IPR actually provokes IPR infringements in many developing nations also seems to be an issue that needs to be analyzed while understanding the need of the former. The trade-off between unfair competition laws and IP also assumes importance of high magnitude and hence needs to be particularly emphasized. With the growing recognition of IPR, the importance of worldwide forums on IPR has been realized. Companies, universities, and industries want to protect their IPR internationally. In order to reach this goal, countries have signed numerous agreements and treaties.

  4. Achieving Economic Growth in the EU Through Lobbyism

    Directory of Open Access Journals (Sweden)

    Gert Tinggaard Svendsen

    2009-11-01

    Full Text Available At Lisbon in 2000, the European Union (EU set itself a new strategic goal, namely to become the world’s leading economy and to enhance social cohesion across the union, all within a decade. It is argued in this article that one fundamental barrier to the fulfilment of this dream is the fact that power is centralised in the Commission rather than the Parliament. The basic idea upon which our theoretical model is predicated is that a political system that centralises power lowers the cost of rent-seeking and therefore leads to a more economically harmful redistribution, as reflected in the annual EU budget. Here, the two main redistribution policies, (1 Common Agricultural Policy (CAP and (2 the Structural Funds, consume more than four fifths of the total annual EU budget. Thus, if the EU is to achieve its strategic goal, a strong cure is needed to reduce redistribution and encourage more free trade. The simple cure for this ‘EU disease’ would be to strengthen the decision-making power of the Parliament at the expense of the Commission. In this way, power would be spread out between the democratically elected members of the Parliament rather than being concentrated with a few bureaucrats. Such constitutional change and decentralisation of power would increase the costs of lobbyism in particular and thereby reduce distortions of policy outcomes, clearing the road for free-trade policies and economic growth in the new millennium.

  5. 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.

  6. Intellectual property-A strong determinant of Economic Growth

    Directory of Open Access Journals (Sweden)

    Love k Singh

    2009-12-01

    Full Text Available

    The returns from almost all human endeavors can ultimately be translated into monetary gains. The past few years
    have seen increased attention to the strengthening of intellectual property rights due to globalization. The development
    of Intellectual property rights (IPR over the years has invariably brought an upsurge in the outlook of
    nations towards the aspect of societal and cultural growth, this being said with the preliminary assumption that
    economic growth has been the most affected realm and that it requires a separate spectrum of analysis. The artifacts
    between the IP regime and the national economy can be easily interpreted by the fact that India’s independence
    had itself brought an era where the enactment of the national IP laws were considered to stand on the touchstone
    of the market economy. The aim of the present paper is to investigate the impact of strong IP regime in the
    economic development of a nation and also a light is raised into Indian economy and creation for an efficient
    innovating system is discussed. A strong relation of IPR wity pharma sector and biotech sector has been discussed.
    Undoubtedly, IP systems must be developed so as to bring in socio-economic well-being. The fact that
    strong IPR actually provoke IPR infringements in many developing nations also seems to be an issue which needs
    to be analyzed while understanding the need of the former. The trade-off between unfair competition laws and IP
    also assumes importance of high magnitude and hence needs to be particularly emphasized. With the growing
    recognition of IPR, the importance of world wide forums on IPR is realized. Companies, universities, and industries
    want to protect their IPR internationally. In order to reach this goal, countries have signed numerous agreements
    and treaties.

  7. POSTPONING RETIREMENT AND ECONOMIC GROWTH%延迟退休和经济增长

    Institute of Scientific and Technical Information of China (English)

    商胜武; 蹇明; 刘春晖; 杜娟

    2003-01-01

    This paper investigates the effects of postponing retirement on economic growth in an aging society by using the infinite overlapping generations model constructed by Blanchard (1985) in a simple endogenous growth framework. It shows that postponing retirement may decelerate economic growth.

  8. Global economic growth and expected returns around the world: The end-of-the-year effect

    DEFF Research Database (Denmark)

    Møller, Stig Vinther; Rangvid, Jesper

    2017-01-01

    Global economic growth at the end of the year strongly predicts returns from a wide spectrum of international assets, such as global, regional, and individual-country stocks, FX, and commodities. Global economic growth at other times of the year does not predict international returns. Low growth...

  9. U. S. energy and economic growth, 1975--2010

    Energy Technology Data Exchange (ETDEWEB)

    Allen, E.L.; Cooper, C.L.; Edmonds, F.C.; Edmonds, J.A.; Reister, D.B.; Weinberg, A.M.; Whittle, C.E.; Zelby, L.W.

    1976-09-01

    This study projects economic growth (GNP) and energy demand for the U.S. to the year 2010. The main finding is that both GNP and total energy demand are likely to grow significantly more slowly than has been assumed in most analyses of energy policy. Projections of energy, GNP, and electricity (total and per capita) are summarized, with electricity demand expected to grow more rapidly than total energy demand. Two scenarios designated ''high'' and ''low'' were developed in this study. However, even the ''high'' scenario, 126 quads (q; 1 q equals 10/sup 15/ Btu) in 2000, is much lower than most previous estimates. It is felt that this raises serious questions about fundamental energy and energy R and D policies which, generally, have been based on perceptions of more lavish energy futures. Although the aggregate demands and GNP are projected to increase rather modestly, the energy demands per capita and GNP per capita increase at rates comparable to or even higher than historic rates. The authors believe that the projections developed in this study represent a logical culmination of many trends toward lower growth. These trends have not yet been factored into the older energy projections upon which so much energy policy is based. 136 references.

  10. Import Substitution as a Factor of Regional Economic Growth

    Directory of Open Access Journals (Sweden)

    Sukhanova Irina Fedorovna

    2014-11-01

    Full Text Available The current state of import substitution in Russia is considered. The authors’ definition is given to the concept of import substitution. The features of short-term and longterm strategies of import substitution are opened. The authors prove the need of diversification of the directions of foreign economic activity by reorientation of the foreign trade communications of Russia to the markets of the countries of CIS, the customs union and CES as well as the countries of the Asia Pacific region. The reasons of growth of import deliveries of foodstuff are opened. The comparative analysis of food consumption level in Russia is conducted. The food coefficients dependence on the most important food are calculated. The comparative analysis of productive indicators of domestic agricultural production with similar indicators of the foreign states is made. The strategies of import substitution for domestic agriculture taking into account its specifics and production potential, is offered. The assessment of potential of import substitution of Saratov region is presented. The priority actions on ensuring food security and growth of economy of the region are offered.

  11. U. S. Energy and Economic Growth, 1975--2010

    Science.gov (United States)

    Allen, E. L.; Cooper, C. L.; Edmonds, F. C.; Edmonds, J. A.; Reister, D. B.; Weinberg, A. M.; Whittle, C. E.; Zelby, L. W.

    1976-09-01

    This study projects economic growth (GNP) and energy demand for the U.S. to the year 2010. The main finding is that both GNP and total energy demand are likely to grow significantly more slowly than has been assumed in most analyses of energy policy. Projections of energy, GNP, and electricity (total and per capita) are summarized, with electricity demand expected to grow more rapidly than total energy demand. Two scenarios designated ''high'' and ''low'' were developed in this study. However, even the ''high'' scenario, 126 quads (q; 1 q equals 10/sup 15/ Btu) in 2000, is much lower than most previous estimates. It is felt that this raises serious questions about fundamental energy and energy R and D policies which, generally, have been based on perceptions of more lavish energy futures. Although the aggregate demands and GNP are projected to increase rather modestly, the energy demands per capita and GNP per capita increase at rates comparable to or even higher than historic rates. The authors believe that the projections developed in this study represent a logical culmination of many trends toward lower growth. These trends have not yet been factored into the older energy projections upon which so much energy policy is based.

  12. Small and Medium Enterprises and Economic Growth in Nigeria

    Directory of Open Access Journals (Sweden)

    Taiwo Adewale Muritala

    2012-06-01

    Full Text Available This paper seeks to investigate Small and Medium Enterprises as a veritable tool in Economic Growth and Development. A survey method was used to gather data from 200 SME/Entrepreneurial officers and Managers from five selected local government in Nigeria namely; Ijebu North, Yewa South, Sagamu, Odeda and Ogun Waterside Local government. Data was collected with a structured questionnaire and analyzed with several descriptive statistics to identify the perception of the roles of SMEs in Nigeria. The results of the study therefore reveals that the most common constraints hindering small and medium scale business growth in Nigeria are lack of financial support, poor management, corruption, lack of training and experience, poor infrastructure, insufficient profits, and low demand for product and services. Hence, it therefore recommends that Government should as matter of urgency assist prospective entrepreneurs to have access to finance and necessary information relating to business opportunities, modern technology, raw materials, market, plant and machinery which would enable them to reduce their operating cost and be more efficient to meet the market competitions.

  13. The obsolescence of export structure: an obstacle to economic growth

    Directory of Open Access Journals (Sweden)

    Petrović Predrag

    2006-01-01

    Full Text Available Although the decrease in foreign trade imbalance is almost the only positive macroeconomic shift in 2005, it seems that this problem is losing importance for no reason. Other burning economic problems (inflation, first of all have pushed aside this problem that was a real burning issue. Of course that there has to be understanding for such treatment by the creators of economic policy considering the fact that the inflation in this year will surpass the originally planned inflation almost twofold, and that the International Monetary Fund is firm in insisting on additional rendering both fiscal and monetary policy more severe in order to restrain the growing price instability. Bearers of economic policy have already fulfilled a large part of the given requirements. Nevertheless, the foreign trade imbalance is still fairly high. This thesis is supported by the fact that Serbia is a country in transition with almost the lowest degree of import coverage by export. Despite the marked rise in goods export that has been realized in this part of the year, it is difficult to say which part of the growth has been caused by the privatization processes and restructuring, and which part accounts for a more realistic statistical expression that is a consequence of value added tax (VAT endorsement. Also, there are certain vague issues concerning the import itself. The economists agree that VAT endorsement led to overflowing the import from 2005 to 2004 especially in the last quarter of 2004. Additionally, it seems that there is a wide consensus that VAT endorsement implied the decrease in the phenomenon which was supposed mostly by the creators of economic policy, to have played an important role, and it is about the "inflated" import invoices. Elimination or at least reduction in this phenomenon resulted in more realistic expression of goods import value. It is almost clear that a part of this year’s decrease in foreign trade imbalance has been due to

  14. Innovative Entrepreneurship: a Source of Economic Growth in the Region

    Directory of Open Access Journals (Sweden)

    Elena Leonidovna Andreeva

    2016-09-01

    Full Text Available This article presents the findings of the study on the role of innovative entrepreneurship in the regional economy. The analysis is based on the methodology developed by Hermann Simon, a German scientist who has coined the term ”hidden champions” describing the phenomenon of little-known successful companies that act as innovative growth engines in the German economy. Today, the economies in different countries are developing amid the ”new normal,” in which no expected recovery followed the global crisis of 2008. This makes it necessary to rethink the role of entrepreneurship during a prolonged recession. The authors proposed and tested the hypothesis that, in this environment, the economic growth in the country and the region is increasingly determined not so much by large businesses, but by many small innovative companies. To identify Russian ”hidden champions,” we studied more than 1247 companies listed in the Innovation and Investment Market, a specialized section of the Moscow Exchange, and included in the specialized Register of Business Entities that use nanotechnology. We identified specifically Russian features of innovative entrepreneurship related to national cultural and historical characteristics and the current policy of import substitution. The authors proposed their own method for assessing the innovative entrepreneurship as a source of economic growth in the Russian regions that defines five groups of innovative entrepreneurs (global market leader, one of the global market leaders, Russian market leader, one of the Russian market leaders, not the leader in the Russian market and compares them with large companies in terms of turnover and profit dynamics. Based on such criteria as ”number of ”hidden champions” and ”number of large enterprises per 100 thousand organizations,” we built a model for the ratio of ”hidden champions” to major companies in the Russian regions that identifies, for each criterion

  15. The relation between economic growth and foreign direct investment during the economic crisis in the European Union

    Directory of Open Access Journals (Sweden)

    Mihaela Simionescu

    2016-06-01

    Full Text Available The goal of this research is to investigate the relationship between economic growth and foreign direct investment inflows in the European Union (EU-28 in the period of the recent economic crisis. Panel data approach and Bayesian techniques are employed to solve the problem of a short set of data (2008–2014. The panel data approaches (panel vector-autoregressive model and Bayesian random effect models identified a reciprocal and positive relationship between FDI and economic growth in EU-28 starting with 2008. The individual approach based on Bayesian linear regressions identified this tendency as being specific for most of the EU-28 countries. However, there are some countries for which higher FDI did not generate economic growth and some countries where higher GDP did not attract more FDI and FDI did not bring economic growth. According to cluster analysis, the disparities among countries regarding the FDI distribution according to GDP growth and GDP rate distribution according to FDI diminished in 2014 compared to 2008. The basic conclusion is that on overall in the European Union there was a reciprocal relationship between economic growth and FDI since the beginning of the crisis with a tendency of reducing disparities between countries in attracting FDI.

  16. Institution, Financial Sector, and Economic Growth: Use The Institutions As An Instrument Variable

    Directory of Open Access Journals (Sweden)

    Albertus Girik Allo

    2016-06-01

    Full Text Available Institution has been investigated having indirect role on economic growth. This paper aims to evaluate whether the quality of institution matters for economic growth. By applying institution as instrumental variable at Foreign Direct Investment (FDI, quality of institution significantly influence economic growth. This study applies two set of data period, namely 1985-2013 and 2000-2013, available online in the World Bank (WB. The first data set, 1985-2013 is used to estimate the role of financial sector on economic growth, focuses on 67 countries. The second data set, 2000-2013 determine the role of institution on financial sector and economic growth by applying 2SLS estimation method. We define institutional variables as set of indicators: Control of Corruption, Political Stability and Absence of Violence, and Voice and Accountability provide declining impact of FDI to economic growth.

  17. Energy return on investment, peak oil, and the end of economic growth.

    Science.gov (United States)

    Murphy, David J; Hall, Charles A S

    2011-02-01

    Economic growth over the past 40 years has used increasing quantities of fossil energy, and most importantly oil. Yet, our ability to increase the global supply of conventional crude oil much beyond current levels is doubtful, which may pose a problem for continued economic growth. Our research indicates that, due to the depletion of conventional, and hence cheap, crude oil supplies (i.e., peak oil), increasing the supply of oil in the future would require exploiting lower quality resources (i.e., expensive), and thus could occur only at high prices. This situation creates a system of feedbacks that can be aptly described as an economic growth paradox: increasing the oil supply to support economic growth will require high oil prices that will undermine that economic growth. From this we conclude that the economic growth of the past 40 years is unlikely to continue in the long term unless there is some remarkable change in how we manage our economy.

  18. Adoption of multivariate copulae in prognostication of economic growth by means of interest rate

    Science.gov (United States)

    Saputra, Dewi Tanasia; Indratno, Sapto Wahyu, Dr.

    2015-12-01

    Inflation, at a healthy rate, is a sign of growing economy. Nonetheless, when inflation rate grows uncontrollably, it will negatively influence economic growth. Many tackle this problem by increasing interest rate to help protecting the value of money which is detained by inflation. There are few, however, who study the effects of interest rate in economic growth. The main purposes of this paper are to find how the change of interest rate affects economic growth and to use the relationship in prognostication of economic growth. By using expenditure model, a linear relationship between economic growth and interest rate is developed. The result is then used for prediction by normal copula and Vine Archimedean copula. It is shown that increasing interest rate to tackle inflation is a poor solution. Whereas implementation of copula in predicting economic growth yields an accurate result, with not more than 0.5% difference.

  19. New Mexico Campaigns Against Hunger and Malnutrition

    Science.gov (United States)

    Lubin, Shami

    1972-01-01

    Describes the nutritional needs of individuals in New Mexico, and the efforts of the Nutrition Improvement Program (NIP) of the University of New Mexico School of Medicine at Albuquerque to remove hunger and malnutrition. (DM)

  20. A Response Analysis of Economic Growth to Environmental Risk: A Case Study of Qingdao

    Science.gov (United States)

    Qin, Yunpeng; Ji, Jianyue; Yu, Xiaoli

    The economic growth is one kind of risk sources for environmental pollution. Taking Qingdao as sample, using principal component analysis, Granger causality test and impulse response function, this paper aims to find the relationship between economic growth and environmental pollution. The result shows that the economic growth is Granger cause of environmental risk which are influenced by time lags. The influence is progressive, gradual, and long-standing.

  1. THE LINK BETWEEN GLOBALISATION, ECONOMIC GROWTH AND EDUCATION: AN ANALYSIS IN THE CASE OF ROMANIA

    Directory of Open Access Journals (Sweden)

    Stela Dima

    2014-12-01

    Full Text Available The paper tries to offer empirical evidence on the link between economic growth, globalisation phenomenon and education level of population in the Romanian economy. Using time series for 1990-2011 in a regression model, we found a positive validated correlation between globalisation and economic growth, globalisation and education and, economic growth and education. For globalisation measurement the KOF index of globalisation was used.

  2. Unemployment and Economic Growth of Developing Asian Countries: A Panel Data Analysis

    Directory of Open Access Journals (Sweden)

    Muhammad Imran

    2015-09-01

    Full Text Available This study presents the new regression estimates of the relationship between unemployment and economic growth for 12 selected Asian countries over the period 1982-2011. Fixed effect and Pooled OLS techniques are used to analyze the panel data for measuring individual country effects, group effects and time effects while exploring the relationship between Unemployment rate and the Economic Growth. The results showed that higher unemployment rate has significant negative impact on GDP per capita growth (a proxy for economic growth. The results also investigated that economic growth seems to be significantly affected by traditional determinants such as Inflation (consumer price index, Population growth, Gross Capital Formation, Trade openness etc. Based on our results the author has concluded that reduction in unemployment rate would be a better option for more and sustained economic growth and also improving the welfare of the people.

  3. The Nexus between Higher Education and Economic Growth: An Empirical Investigation for Pakistan

    Directory of Open Access Journals (Sweden)

    Amatul R. Chaudhary

    2009-06-01

    Full Text Available The study investigates the role of higher education in economic growth for Pakistan between 1972 and 2005 using the application of Johansen Cointegration and Toda & Yamamoto (1995 Causality approach in Vector Autoregressive (VAR framework. It examines whether higher education affect long run economic growth in Pakistan. The empirical analysis reveals that there is a long run relationship between economic growth and higher education, which suggests that these variables are necessary for each other. The empirical results of causality test indicate that there exists a unidirectional causality running from economic growth to higher education and no other direction of causality found between these variables.

  4. Relationship between Economic Freedom and Pro-poor Growth: Evidence from Pakistan (1995-2010

    Directory of Open Access Journals (Sweden)

    Khalid ZAMAN

    2011-07-01

    Full Text Available The relationship between economic freedom and pro-poor growth is examined in Pakistan from 1995-2010. The concept of pro-poor growth is derived from the literature of Kakwani and Pernia (2000 and Kakwani and Son (2003. The domino effect shows that there is a strong link between economic freedom indicators and pro-poor growth. Econometric analysis proves a strong relationship between economic freedom, poverty reduction and income inequality. Results reveal that larger the business freedom and / or trade freedom, greater the economic growth. This will ultimately reduce poverty in the country.

  5. The effects of foreign direct investment on economic growth: evidence for Togo

    Directory of Open Access Journals (Sweden)

    Maman Tachiwou ABOUDOU

    2010-12-01

    Full Text Available The objective of this paper is to examine the effect of foreign direct investment (FDI on economic growth. I use data running over 33 years from 1975 to 2008. Generally, the results, obtained by using the ordinary least squares (OLS methods show foreign direct investment (FDI, Trade volume, and Human capital to have a positive impact on economic growth. There is some evidence that inflation and Government consumption to found to have a negative impact on economic growth. The empirical analysis shows that FDI alone plays an ambiguous role in contributing to economic growth.

  6. Toward Sustainable Economic Growth: A Spatial Panel Data Analysis of Regional Income Convergence in US BEA Economic Areas

    Directory of Open Access Journals (Sweden)

    Up Lim

    2015-07-01

    Full Text Available A question fundamental to sustainable economic growth is whether a poor region tends to grow faster than a rich one, such that the poor region catches up with the rich region in terms of the level of per capita income. In this article, we apply the spatial panel data approach to the analysis of regional income convergence across 177 economic areas in the contiguous US states over the period from 1969 to 2009. Using data on per capita incomes in the functionally defined economic areas, we find that the absolute value of the estimated coefficient of the initial per capita income decreases in the spatial and time-period fixed effects spatial lag model and increases in the spatial and time-period fixed effects spatial error model. This result implies that the growth rate in a specific economic area will be not only directly affected by an exogenous shock introduced into that economic area but also be impacted more by both the indirect effects of the first-order neighboring economic areas and the induced effects of the higher-order neighboring economic areas. This gives helpful hints on the issue of spatial interaction and regional policy coordination to start a virtuous circle of sustainable economic growth.

  7. Computer Assisted Comprehension of Distant Worlds: Understanding Hunger Dynamics in Africa.

    Science.gov (United States)

    Moseley, William G.

    2001-01-01

    Describes a computer program called RiskMap. Explains that after completing an assignment on rural economics and hunger dynamics in Africa, students showed an increased level of understanding and felt that using RiskMap was helpful in learning the material. Includes references. (DAJ)

  8. The contribution of cultivated land occupation by construction to China's economic growth

    Institute of Scientific and Technical Information of China (English)

    YANG Ke; CHEN Baiming; DU Hongliang; TANG Xiumei

    2011-01-01

    The paper applies Cobb-Douglas Production Function and Solow-Swan Model to constructing the calculation model of the contribution rate of cultivated land occupation by construction (CLOC) to China's economic growth,and analyzes the contribution change of CLOC to China's economic growth qualitatively and quantitatively.The main conclusions are as follows:1) From 1989 to 2007,the contribution rates of capital,labor,and CLOC to China's economic growth were 45.76%,8.47%,and 6.19% respectively.2) From the period 1989-1996 to the period 1997-2007 the contribution rate of CLOC to China's economic growth increased from 5.40% to 5.87%.The degree of contribution was enhanced significantly.3) The contribution of CLOC to China's economic growth had a spatial distribution characteristic that the contribution rate of eastern coastal regions was the highest,that of central regions came second,and that of western regions the lowest.The paper indicates that in order to enhance the contribution of CLOC to China's economic growth,some relevant economic and administrative measures might be taken,and land might be used intensively and economically to increase land economic density.The cost of promoting gross domestic product (GDP) growth might be reduced as much as possible to achieve higher GDP growth and lower land resource consumption.

  9. CO{sub 2} emissions, energy consumption and economic growth in China: A panel data analysis

    Energy Technology Data Exchange (ETDEWEB)

    Wang, S.S.; Zhou, D.Q. [College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing 210016 (China); Research Centre for Soft Energy Science, Nanjing University of Aeronautics and Astronautics, Nanjing 210016 (China); Zhou, P., E-mail: cemzp@nuaa.edu.cn [College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing 210016 (China); Research Centre for Soft Energy Science, Nanjing University of Aeronautics and Astronautics, Nanjing 210016 (China); Wang, Q.W. [Research Centre for Soft Energy Science, Nanjing University of Aeronautics and Astronautics, Nanjing 210016 (China); School of Business, Soochow University, 50 Donghuan Road, Suzhou 215021 (China)

    2011-09-15

    This paper examines the causal relationships between carbon dioxide emissions, energy consumption and real economic output using panel cointegration and panel vector error correction modeling techniques based on the panel data for 28 provinces in China over the period 1995-2007. Our empirical results show that CO{sub 2} emissions, energy consumption and economic growth have appeared to be cointegrated. Moreover, there exists bidirectional causality between CO{sub 2} emissions and energy consumption, and also between energy consumption and economic growth. It has also been found that energy consumption and economic growth are the long-run causes for CO{sub 2} emissions and CO{sub 2} emissions and economic growth are the long-run causes for energy consumption. The results indicate that China's CO{sub 2} emissions will not decrease in a long period of time and reducing CO{sub 2} emissions may handicap China's economic growth to some degree. Some policy implications of the empirical results have finally been proposed. - Highlights: > We conduct a panel data analysis of the energy-CO{sub 2}-economy nexus in China. > CO{sub 2} emissions, energy use and economic growth appear to be cointegrated. > There exists bidirectional causality between energy consumption and economic growth. > Energy consumption and economic growth are the long-run causes for CO{sub 2} emissions.

  10. ENVIRONMENTAL ACCOUNTING: BALANCING ECONOMIC GROWTH AND ENVIRONMENTAL QUALITY

    Science.gov (United States)

    Modern industrial economies depend on the environment to support economic production and a high standard of living. Economic production, in turn, impacts the productivity of ecosystems through waste production and resource use or diversion. Human activities control many energy an...

  11. Government Expenditure, Efficiency and Economic Growth: A Panel ...

    African Journals Online (AJOL)

    Fiscal policy makers in Sub Saharan African low income region should consider the ... Department of Economics, Faculty of Business and Finance, UTAR, Malaysia. .... resources bring on new economic resources and trim down crowding-out ...

  12. Nexus between population and economic growth in india: a co-integration analysis

    Directory of Open Access Journals (Sweden)

    Komol Singha

    2013-01-01

    Full Text Available The study of population and economic growth has been the subject of intense debates between the two schools of thought. One relates to pessimistic opinion that population has a negative impact on economic growth while the other is convinced that the effect is positive. Recently, third group argues that the rise in population is neutral on economic growth. However, till date, the issue remains inconclusive. To analyse causality, using 51 years time series data of GDP and population growth, a Granger Causality Test was done and found that population growth causes neither GDP nor vice versa in India.

  13. Economic Growth Factor in Nigeria: The Role of Global Trade

    Directory of Open Access Journals (Sweden)

    Samuel Gowon Edoumiekumo

    2013-05-01

    Full Text Available The paper examines the contributions of international trade (proxied with export and import values to economic growth in Nigeria measured by real gross domestic product (RGDP. We used time series data obtained from CBN for a period of 27 years. Augmented Dickey-Fuller (ADF test was used for the unit root test and the variables were stationary at levels I(0. Johansen’s co-integration test was also conducted to establish short and long run relationships between the two variables. The result shows two co-integrating equations which establish the existence of long run relationship among the variables. Ordinary Least Square statistical technique was used to assess the degree of influence the variables have on each other. The results show that positive relationship exists between the variables, RGDP, export and import. The export parameter is insignificant at 5 percent. The overall model is significant at 5 percent. Finally, we used Granger causality test to study the causality between the variables and realized a uni-directional relationship. Real GDP Granger cause export and import Granger cause RGDP and export. Nigeria needs to increase or diversify her export goods to enjoy more of the benefits of international trade. Normal 0 false false false EN-US X-NONE AR-SA

  14. Reform,Interaction of Policies,and Economic Growth:Evidence from China's Provincial Panel Data

    Institute of Scientific and Technical Information of China (English)

    CHEN Zhao; LU Ming; YAN Ji

    2006-01-01

    Based on provincial panel data,we tested the effects of openness,denationalization,fiscal reform,and their interactions on Chinese regional economic growth.We found the following:(1) Openness,especially the growth of foreign-direct-investment/gross-domesticproduct ratio,has been important in enhancing China's growth since the mid-1980s,while this effect is not so significant in western China.(2) Fiscal reform is another significant factor for economic growth.If local governments deregulate,higher growth will be obtained.In particular,reducing extrabudget expenditure helps push economic growth,especially in western China.(3) The interaction of economic policies,such as openness,denationalization,and fiscal reform,also plays an essential role in local economic growth.Both for the whole nation and for the eastern area,denationalization does not affect growth independently but expands the effects of deregulation.(4) After controlling economic policies and their interactions,conditional convergence exists.(5) With other factors controlled,eastern China achieved higher growth,while the middle and western areas did not differ significantly in growth.(6) Western China,where policy variables have lower explanatory power for growth,has a growth pattern different from those of the eastern and middle areas.

  15. Rethinking the Concept of Long-Run Economic Growth

    DEFF Research Database (Denmark)

    Groth, Christian; Koch, Karl-Josef; Steger, Thomas Michael

    This paper argues that growth theory needs a more general "regularity" concept than that of exponential growth. This offers the possibility of considering a richer set of parameter combinations than in standard growth models. Allowing zero population growth in the Jones (1995) model serves as our...... illustration of the usefulness of a general concept of "regular growth"...

  16. Rethinking the Concept of Long-Run Economic Growth

    OpenAIRE

    Groth, Christian; Koch, Karl-Josef; Steger, Thomas M.

    2006-01-01

    This paper argues that growth theory needs a more general “regularity” concept than that of exponential growth. This offers the possibility of considering a richer set of parameter combinations than in standard growth models. Allowing zero population growth in the Jones (1995) model serves as our illustration of the usefulness of a general concept of “regular growth”.

  17. THE MIGRATING NATURE OF FOREIGN DIRECT INVESTMENTS AND THEIR IMPACT ON ECONOMIC GROWTH

    Directory of Open Access Journals (Sweden)

    Boghean Carmen

    2015-07-01

    Full Text Available The global economic crisis of 2008-2009 has reignited the debate concerning the pertinence of financial integration, both in industrially advanced and emergent economies as well. Thus, the crisis provides a new chance to revise the analysis comparing the international capital flows and economic growth. The foreign direct investments of the past few years have become increasingly important for the global economic activity, and the professional literature has developed a numerous number of hypotheses concerning the relationship between FDI and economic growth. The idea that the increased FDI inflows result in stronger economic growth is currently very topical in several debates. Some of the previously conducted research argue that FDIs can have both positive and negative effects on the GDP. The careful analysis of the effects that FDIs may have on economic growth in various economic sectors of the recipient country has resulted in various findings. FDIs can have negative effects on the economic growth prospects of the recipient countries when they lead to substantial reversed flows in the form of revenues from dividends or when multinationals obtain substantial privileges or other advantages in the recipient country. There are numerous research papers in professional literature that approach the relationship between foreign direct investments and economic growth. The research in the field has intensified in the past decade, due to the increasingly important weight of FDI in the total capital flows. The present research will analyse the relation between economic growth and the amount of international capital flows in order to identify to what extend foreign direct investments help increase the level of economic growth. The analysis we are suggesting encompasses the group of developed countries, developing countries, as well as those countries identified as transitioning during 1970-2013. The main objective of the present research is to identify and

  18. Is Tourism Development a Sustainable Economic Growth Strategy in the Long Run? Evidence from GCC Countries

    Directory of Open Access Journals (Sweden)

    Abdulkarim K. Alhowaish

    2016-06-01

    Full Text Available The main objective of this study is to investigate the causal relationship between tourism development and economic growth in Gulf Cooperation Council (GCC countries in a multivariate model, using panel data for the period 1995–2012. The study adopts a panel Granger causality analysis approach to assess the contribution of tourism to economic growth in GCC countries as a whole, and in each individual country. In the case of GCC countries as a whole, the results show a one-way Granger causality, from economic growth to tourism growth. Furthermore, Kuwait, Saudi Arabia, Qatar, and the United Arab Emirates follow the path of economy-driven tourism growth, as hypothesized. The reverse hypothesis (i.e., tourism-led growth hypothesis holds true for Bahrain, while there is no causal relationship between tourism and economic growth in the case of Oman.

  19. [Josué de Castro and The Geography of Hunger in Brazil].

    Science.gov (United States)

    Vasconcelos, Francisco de Assis Guedes de

    2008-11-01

    The aim of this article is to reinterpret the classic work Geografia da Fome [The Geography of Hunger], first published in 1946. The article provides a summary of the five food area maps and the main nutritional deficiencies in Brazil, based on Josué de Castro's original conception. Currently, the nutritional epidemiological profile identified by Josué de Castro, characterized by nutritional deficiencies (malnutrition, vitamin deficiencies, endemic goiter, iron deficiency anemia, etc.), overlap with chronic non-communicable diseases (obesity, diabetes, dyslipidemias, etc.). However, the complex and paradoxical issue of hunger is a persistently recurrent theme in Brazil. Given a series of current dilemmas, including the planet's ecological sustainability and the need to guarantee the human right to adequate, healthy nutrition, it is urgent to reawaken the struggle led by Josué de Castro for the adoption of a sustainable economic development model and a society free of poverty and hunger.

  20. The role of human capital formation in the transition to modern economic growth, 1300-1900

    NARCIS (Netherlands)

    de Pleijt, A.M.

    2016-01-01

    Economic models of the Industrial Revolution increasingly emphasize the key role of human capital in promoting economic growth, and empirical studies have shown that education is a strong predictor of per capita GDP. Contrary to the theory, however, economic historians have described the role of