Carmen Lenuţa TRICĂ; Marilena PAPUC
Accelerating the global issues such as natural resource depletion, damage to the natural environment, economic and financial crises and consumption growth led to the shift of the development paradigm from consumption to sustainable development and recognition of the new path, namely green economy. At the European level a number of international organizations discussed issues of transition to green economy (EC, UNEP, OECD). In 2008, UNEP launched “Green Economy Initiative to Get the Global Mar...
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)...
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.
Carmen Lenuţa TRICĂ
Full Text Available Accelerating the global issues such as natural resource depletion, damage to the natural environment, economic and financial crises and consumption growth led to the shift of the development paradigm from consumption to sustainable development and recognition of the new path, namely green economy.At the European level a number of international organizations discussed issues of transition to green economy (EC, UNEP, OECD. In 2008, UNEP launched “Green Economy Initiative to Get the Global Markets Back to Work”, aiming to mobilize and re-focuse the global economy towards.This is the twin challenge of moving towards a green economy: radically reducing the footprint of developed countries, while simultaneously raising levels of social and material well being in developing countries.Without public intervention, the related market failures (i.e. market prices that do not fully reflect the environmental degradation generated by economic activity may delay or even prevent the development of environmentally-friendly technologies.Furthermore, in sectors such as electricity, network effects arising from existing infrastructures create additional barriers to the adoption of alternative sources of power, further hampering incentives to invest in new technologies.Given that the transition to a green economy requires increasing of investment in economic sectors that contribute to enhancing of natural capital and reduce environmental risks, we intend to analyze the main measures taken by Romania to ensure transition to green economy.
Full Text Available There are many studies that look into the relationship between public debt and economic growth. It is hard to find, however, research addressing the role of corruption between these two variables. Noticing this vacancy in current literature, we strive to investigate the effect of corruption on the relationship between public debt and economic growth. For this purpose, the pooled ordinary least squares (OLS, fixed effects models and the dynamic panel generalized method of moments (GMM models (Arellano-Bond, 1991 are estimated with data of 77 countries from 1990 to 2014. The empirical results show that the interaction term between public debt and corruption is statistically significant. This confirms the hypothesis that the effect of public debt on economic growth is a function of corruption. The sign of the marginal effect is negative in corrupt countries, but public debt enhances economic growth within countries that are not corrupt, i.e., highly transparent.
Full Text Available Economic growth is one of the most important issues of humanity. Both in national economies and world economy, recession and prosperity periods are regularly succeeding with different amplitudes. But beyond these fluctuations and their effects, the results are important: performance and economic growth. Because of the problematical issue of economic growth, the authors are trying to critically reflect on the economic growth concept and on its implications on the praxis area. Although there is a large literature about economic growth modeling, it is intriguing that there still are some serious obstacles for conceptualization and praxis. Only the simple fact that the economic growth process needs serious thinking on the time dimension is sufficient for understanding the real difficulties of this problematical issue. As for the economic growth praxis, a clear analysis of the interests system within an economy is needed. Without trying to find miraculous solutions for the economic growth issue, the authors suggest a clear and correct analysis of this important subject.
Sedlacko, Michal; Antunes, Paula; Asara, Viviana
to ecosystem services have spurred parts of the academic and policy communities into identification of problems and solutions. Some of the most fundamental debates, led by researchers from various disciplines, centre around economic growth and sustainable consumption. However, there is often a lack...... research questions that link the challenges of sustainable consumption with economic growth debates and critiques. The research questions have been identified through an extensive participatory process involving leading researchers and policy makers responsible for sustainability policies throughout...... the whole EU and cover five areas (food, housing, mobility, information and communication technology, finance). The aim of the research questions is to orient researchers towards important research priorities as well as guide policy makers and public authorities in funding of research and use of sound...
Full Text Available The subject “economic growth and sustainability” refers to the relationship between economicgrowth and its positive impact on the wellbeing of the population and on the environment. It is,therefore, about economic, as well as social and environmental, sustainability, i.e. the root ofthe sustainable development paradigm. A historical review is needed for understanding theroots of the emergence of this new socio-political and scientific paradigm. It starts from themoment when the economy was mainly viewed as an evil against the environment, to the pointwhen the new sustainable development, or eco-development, is developed. Then the paperpresents the present, and most important, ways that several public and private actions attemptto develop their economic activities guided by this paradigm, emphasising the Brazilian context.
Bogdan Ion Boldea
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 â€“ 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 incomesâ€™ 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
Muhammad Danial Ariff Burhanudin
Full Text Available The persistent increase of government debt in Malaysia in the recent years has raised con-cerns as to whether the borrowings have spurred the economy or became a drag on econom-ic growth. The present paper investigates the real effect of government debt on sustainable economic growth in Malaysia using the Autoregressive Distributed Lag approach for the period of 1970-2015. The results show there are positive significant long- and short-run relationships between government debt and sustainable economic growth. There is also a unidirectional causality running from government debt to sustainable economic growth. The findings indicate that Malaysia’s government debt is an important macroeconomic element for sustainability of economic growth in Malaysia. There is no evidence, however, to con-clude that the level of government debt had any adverse impacts on sustainable economic growth.
Victor N. ITUMO
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.
Full Text Available This paper intends to analyse the correlation between the level of economic growth of a country and its rural development. The phrase sustainable development combines the economic growth and the preservation and improvement of environmental and human health, preservation of social justice and assurance of democratic environment in social life. Therefore, the sustainable economic growth provides for the meeting of current consumption requirements without compromising or prejudicing those of the future generations. By adding the requirements regarding environmental protection and preservation of natural resources to economic growth we may speak of a proper sustainable development.
Islam, Sardar M.N.; Clarke, Matthew [Sustainable Economic Growth Program, Centre for Strategic Economic Studies, City Campus, Victoria University, PO Box 14428, Melbourne, Vic. (Australia); Munasinghe, Mohan [Munasinghe Institute for Development (MIND), Colombo (Sri Lanka)
Currently, traditional development issues such as economic stagnation, poverty, hunger, and illness as well as newer challenges like environmental degradation and globalisation demand attention. Sustainable development, including its economic, environmental and social elements, is a key goal of decisionmakers. Optimal economic growth has also been a crucial goal of both development theorists and practitioners. This paper examines the conditions under which optimal growth might be sustainable, by assessing the costs and benefits of growth. Key environmental and social aspects are considered. The Ecol-Opt-Growth-1 model analyses economic-ecological interactions, including resource depletion, pollution, irreversibility, other environmental effects, and uncertainty. It addresses some important issues, including savings, investment, technical progress, substitutability of productive factors, intergenerational efficiency, equity, and policies to make economic growth more sustainable-a basic element of the sustainomics framework. The empirical results support growing concerns that costs of growth may outweigh its benefits, resulting in unsustainability. Basically, in a wide range of circumstances, long term economic growth is unsustainable due to increasing environmental damage. Nevertheless, the model has many options that can be explored by policy makers, to make the development path more sustainable, as advocated by sustainomics. One example suggests that government supported abatement programs are needed to move towards sustainable development, since the model runs without abatement were infeasible. The optimal rate of abatement increases over time. Abatement of pollution is necessary to improve ecosystem viability and increase sustainability. Further research is necessary to seek conditions under which alternative economic growth paths are likely to become sustainable.
Andrés Felipe Galindo Farfán
Full Text Available The evolution of Chinese economic growth correlates with more or less inclusive politic and economic institutions at different points of history. At 13 century, China stood as the most technologically advanced nation in the world, where economic institutions motivates innovation and trade. In 20th century China experienced some industrialization policy by the regime, the Great Leap Forward, while in the last three decades economic growth has been pushed by an abundant workforce, implementation of economic reforms aimed at the market and promotion of domestic consumption. However, China has driven its economic activity into an authoritarian context, political and economic constraints where we could assume that sustainability of Chinese economic model with high growth rates tends to stagnate in the coming years, if political reforms are not carried out.
Alvarez, Mavis Dora
Cuba today is immersed in a very intense process of perfecting its agricultural production structures with the goal of making them more efficient and sustainable in their economic administration and in their social and environmental management. Agricultural cooperatives in Cuba have the responsibility of producing on 73% of the country's farmland. Their contributions are decisive to developing agricultural production and to ensuring more and better food for the population, in addition to redu...
Savchenko Irina Petrovna
Full Text Available In this article we’ll consider the innovative activity of company, distinguish the components preventing the introduction of innovations and investigate the main approaches to the formation of innovative development of organization in terms of economic and technological aspects. Relying on the marked-out features of introduction of technological innovations by the domestic enterprises, the directions of their development and use are proved.
Watson, A.; Butheau, M.; Sandor, D.
Mexico is the second largest economy in Latin America, with rapid growth occurring in the industrial and services sectors. A forward-thinking country on climate change, the nation recognizes that the threat of higher temperatures, changes in precipitation patterns, and more frequent weather-related disasters could pose a substantial risk to its expanding economy.
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.
Huang, Jiali; Ulanowicz, Robert E
The quantification of growth and development is an important issue in economics, because these phenomena are closely related to sustainability. We address growth and development from a network perspective in which economic systems are represented as flow networks and analyzed using ecological network analysis (ENA). The Beijing economic system is used as a case study and 11 input-output (I-O) tables for 1985-2010 are converted into currency networks. ENA is used to calculate system-level indices to quantify the growth and development of Beijing. The contributions of each direct flow toward growth and development in 2010 are calculated and their implications for sustainable development are discussed. The results show that during 1985-2010, growth was the main attribute of the Beijing economic system. Although the system grew exponentially, its development fluctuated within only a small range. The results suggest that system ascendency should be increased in order to favor more sustainable development. Ascendency can be augmented in two ways: (1) strengthen those pathways with positive contributions to increasing ascendency and (2) weaken those with negative effects.
Daniel Ştefan Armeanu
Full Text Available Energy is crucial to economic progress, but the contemporary worldwide population increase that demands greater energy generated from conventional exhaustible resources, an energy price upsurge, and environmental concerns, imperils sustainable economic growth. Nevertheless, switching to renewable energy produced from naturally replenished resources promotes energy security, likewise addressing issues such as global warming and climate change. This paper aims at exploring the influence and causal relation between renewable energy, both overall and by type, and sustainable economic growth of European Union (EU-28 countries for the period of 2003–2014. We notice that the mean share of renewable energy in the gross final energy consumption is 15%, while the mean share of renewable energy in transport fuel consumption is 3%, which are below the thresholds of 20% and 10%, respectively, as set by the EU Directive 2009/28/EC. By estimating panel data fixed-effects regression models, the results provide support for a positive influence of renewable energy overall, as well as by type, namely biomass, hydropower, geothermal energy, wind power, and solar energy on gross domestic product per capita. However, biomass energy shows the highest influence on economic growth among the rest of renewable energy types. In fact, a 1% increase of the primary production of solid biofuels increases GDP per capita by 0.16%. Besides, cointegrating regressions set on panel fully modified and dynamic ordinary least squares regressions confirm the positive influence related to the primary production of renewable energies on economic growth. A 1% increase in primary production of renewable energies increases GDP per capita by 0.05%–0.06%. However, the results of Granger causality based on panel vector error correction model indicate both in short-run and long-run a unidirectional causal relationship running from sustainable economic growth to the primary production of
OANA SIMONA HUDEA (CARAMAN
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.
Full Text Available This article aims to highlight the quality of life that depends on necessary, harmonious and simultaneous satisfying of all human needs, instead of „one at a time”, health and economic insecurity being at the very foundation of it. A society that is focused on quality of life will be a society centered on the individual, their needs and aspirations. It needs to offer alternatives and choices of the individual and not to impose models. Coercion of society over the individual is an objective and necessary phenomenon. Its deepening is not, however, as required. Social environment based on quality of life must be characterized by the maximum possible degree of permissiveness in which the individual is educated in its contribution to social awareness.
Increasing energy efficiency in households, transportation, industries, and services is an important strategy to reduce energy service demand to levels that allow the steep reduction of greenhouse gases, and a full fledged switch of energy systems to a renewable basis. Yet, technological efficiency improvements may generate so-called rebound effects, which may `eat up' parts of the technical savings potential. This article provides a comprehensive review of existing research on these effects, raises critiques, and points out open questions. It introduces micro-economic rebound effect and suggests extending consumer-side analysis to incorporate potential `psychological rebound effects.' It then discusses meso-economic rebound effects, i.e. producer-side and market-level rebounds, which so far have achieved little attention in the literature. Finally, the article critically reviews evidence for macro-economic rebound effects as energy efficiency-induced economic growth impacts. For all three categories, the article summarizes assessments of their potential quantitative scope, while pointing out remaining methodological weaknesses and open questions. As a rough "rule of thumb", in the long term and on gross average, only half the technical savings potential of across-the-board efficiency improvements may actually be achieved in the real world. Policies that aim at cutting energy service demand to sustainable levels are well advised to take due note of detrimental behavioral and economic growth impacts, and should foster policies and measures that can contain them.
Full Text Available The neoclassical growth models argued that the movement to steady states; technology, exogenous rate of savings, population growth and technical progress stimulate higher growth levels (Solow 1956. Contrary to the neoclassical argument, endogenous growth model argues that, in the theory of endogenous growth, government play a significant role in promoting accumulation of knowledge, research and development, public investment, human capital development, law and order can generate growth both in the short and long run. Moreover, they assumed technical progress as endogenous variable for growth (Barro 1995. This study analyze the effects of fiscal deficit on sustainability of economic growth and provided new empirical evidence on the effects of fiscal deficit on saving and sustainability of economic growth based on the assumption of endogenous growth model. We estimated using the reduced form of GMM method for dynamic panels covers 1990-2009 for three emerging countries that includes China, India and South Africa.
Bai, Xuemei; Chen, Jing; Shi, Peijun
Accelerating urbanization has been viewed as an important instrument for economic development and reducing regional income disparity in some developing countries, including China. Recent studies (Bloom et al. 2008) indicate that demographic urbanization level has no causal effect on economic growth. However, due to the varying and changing definition of urban population, the use of demographic indicators as a sole representing indicator for urbanization might be misleading. Here, we re-examine the causal relationship between urbanization and economic growth in Chinese cities and provinces in recent decades, using built-up areas as a landscape urbanization indicator. Our analysis shows that (1) larger cities, both in terms of population size and built-up area, and richer cities tend to gain more income, have larger built-up area expansion, and attract more population, than poorer cities or smaller cities; and (2) that there is a long-term bidirectional causality between urban built-up area expansion and GDP per capita at both city and provincial level, and a short-term bidirectional causality at provincial level, revealing a positive feedback between landscape urbanization and urban and regional economic growth in China. Our results suggest that urbanization, if measured by a landscape indicator, does have causal effect on economic growth in China, both within the city and with spillover effect to the region, and that urban land expansion is not only the consequences of economic growth in cities, but also drivers of such growth. The results also suggest that under its current economic growth model, it might be difficult for China to control urban expansion without sacrificing economic growth, and China's policy to stop the loss of agricultural land, for food security, might be challenged by its policy to promote economic growth through urbanization.
Full Text Available This paper interprets regional economic sustainability in the context of the globalization of late-coming regions. Drawing upon the concept of strategic coupling from economic geography, this paper proposes two types of strategic coupling, captive and proactive coupling, for better understanding regional sustainability and resilience through the experiences of the Pearl River Delta in China. It finds that sub-regional economies under captive coupling become highly dependent on exogenous growth and are vulnerable to external shocks. This trajectory looks less sustainable according to the general understanding, but it interestingly shows better resilience during and after the 2008 global financial crisis. In contrast, the ones under proactive coupling are less volatile, but growing much slower and are less resilient. By reporting these regional economic dynamics, this paper argues that sustainability in late-coming regions cannot be explained by either intra-regional forces or the means of global integration alone. In contrast, it has to be explained by the combination of both; the alleged strategic coupling in which economic growth and learning happens. This paper thus calls for greater attention to strategic coupling, the trade-off of globalization and resilience for understanding regional sustainability, rather than purely focusing on resource utilization and ecological balance.
CRISTINA TEODORA BALACEANU
Full Text Available The educational system will need to direct its actions and programs towards the identification of the current and future values of the labour market, starting from the existing and potential labour resources, anticipating first and foremost the adjusting of the economy to fast-developing fields and domains, put forward by the State via the Fast-developing Field Strategies or even via the Fast-developing National Strategy. It will accordingly generate a binder between the demands of the labour market as a response to the developing necessities of the economy, and the training/specialization of the labour force as offered by the national syllabus. By these means the educational system would create a labour force compatible with the labour market, which is both a premiss for the increasing level of employment and for the sustainable economic growth. Our task is therefore to provide a concept of education related to technological progress, based on the model of Nelson and Phelps, and a suggestion for investments and education policies.
Full Text Available In the current context of economic recovery and rebalancing, the necessity of modelling and estimating the potential output and output gap emerges in order to assess the quality and sustainability of economic growth, the monetary and fiscal policies, as well as the impact of business cycles. Despite the importance of potential GDP and the output gap, there are difficulties in reliably estimating them, as many of the models proposed in the economic literature are calibrated for developed economies and are based on complex macroeconomic relationships and a long history of robust data, while emerging economies exhibit high volatility. The object of this study is to develop a model in order to estimate the potential GDP and output gap and to assess the sustainability of projected growth using a multivariate filter approach. This trend estimation technique is the newest approach proposed by the economic literature and has gained wide acceptance with researchers and practitioners alike, while also being used by the IMF for Romania. The paper will be structured as follows. We first discuss the theoretical background of the model. The second section focuses on an analysis of the Romanian economy for the 1995–2013 time frame, while also providing a forecast for 2014–2017 and an assessment of the sustainability of Romania’s economic growth. The third section sums up the results and concludes.
Elliott, Steven R. [Department of Economics and Center for Sustainable Systems Studies, Miami University, Oxford, OH (United States)
The economic perspective of sustainability focuses on the trade off of current consumption for future consumption. This was the question that faced the economists of the late 19th century such as Malthus who noticed growth in the population outpaced that of food. Yet, Malthusian prediction of famine and disaster did not come to pass due to technological innovation. There was a substitution of created capital (machines) for natural capital (labor and land). Thus, whether created- and natural capital are substitute or complementary goods is key to sustainability. Many economists believe we can maintain current consumption and that technological innovation will take care of the needs of future generations. However other economists believe that created capital and natural capital are complementary goods; as we consume more created capital, we will also have to consume more natural capital. The relationship between natural and created capital has an impact on what policies and incentives we consider for the preservation of opportunities for future generations. If they are substitutes, current efforts need to focus on development of new technologies which will allow us to do more with less. If they are complements we need to consider efforts of preservation and conservation. We understand that we cannot have our cake and eat it too. The debate is whether we emphasize finding a new way to bake more cake, or carefully consume the cake we have.
Lin, Tun; De Guzman, Franklin
Despite the increasing importance of tourism in economic development and the rise of “pro-poor” tourism development strategies, properly designing and implementing tourism projects remain generally a difficult process. There are both theoretical and practical challenges in justifying public sector investments in tourism and properly measuring the projects’ benefits and sustainability. There is a need to come up with an analytical framework that would address these challenges and help evaluate...
Full Text Available “Incentivized Sustainable Mobility” is a conceptual business model which involves four stakeholders: citizens, municipalities, commerce and mobility services. A platform named “ISUMO” (Incentivized Sustainable Mobility provides technological support to this business model, integrating a set of metaservices that unifies the existing ICTs of transportation plus a unique patented QR-based (Quick Response low-cost charging device for electric vehicles. Essentially, the system tracks and registers citizens’ transportation activities (anonymously and voluntarily and evaluates each through a scoring system while their ecological footprint is calculated. Afterwards, citizens are able to exchange their accumulated points for discount QR coupons, to be redeemed in the associated commerce in order to purchase their products or services. The breakthrough of this business model is that it enhances awareness of sustainable mobility practices, increasing their attractiveness as perceived by the stakeholders with diverse benefits; citizens (and indirectly, the municipalities initiate a new consumption pattern of “coupons culture” linked to sustainable mobility, the urban economy is stimulated, and the use of mobility services grows, providing a new business opportunity regarding electric vehicles. It is expected that continuous exploration of the model and implementation will contribute to sustainable social and economic development aiming at CO2 emissions reduction, headline targets of the Europe 2020 strategy.
Fagerberg, J.; Srholec, Martin
Roč. 41, č. 3 (2017), s. 905-926 ISSN 0309-166X Institutional support: Progres-Q24 Keywords : national innovation systems * growth * technology Subject RIV: AH - Economics Impact factor: 1.338, year: 2016
Full Text Available The paper put in antithesis, theoretically, two models of development and evolution of mankind, namely, economic development based on consumption of the exhaustible resources and pollution and on the other hand the development based on the concepts of sustainable development, involving a new mentality on human life and environment. Economic development includes economic growth, quantified in particular through the GDP, aspect that leads to a reduced analysis taking into account a limited number of variables such as household income, employment labour, consumption of goods and services, etc.. Perpetuation of this model has led, over time, to the company's inability to solve the problems facing mankind today and serious discrepancies regarding current levels of human development. This type of model does not take into account variables such as unemployment, poverty, education, health, environmental pollution, population migration, urban overcrowding, social inclusion etc. At the opposite side of this type of development, which proves to be beyond the crowd problems currently facing humanity, is a new alternative model, that of sustainable development, which provides an integrated view of all these variables and hence the chance of the human society to a new level of evolution. The sustainable development model of mankind put, among others, the zero growth issue or even sustained decrease for some countries. This model requires also reducing resource consumption and increase sustainability of assets created. It also offers practical solutions to many current problems of mankind, among which we can mention providing food for a growing world population and producing clean alternative energy.
Derunova Elena Anatol’evna
Full Text Available The article considers the issue of dependence of key macroeconomic indicators on the energy supply price dynamics, especially oil price, relevant to the modern Russian economy. In order to overcome the negative trends related to oil price dynamics, the authors propose to consider the measures on the gradual diversification of the Russian economy as an effective tool of state regulation. To test the hypothesis that diversification contributes to the increase in sustainability of the national economic system, the authors review the simultaneous equations model, the endogenous variables of which include structural values which reflect the structure of national production system. The share of gross value added (hereinafter, GVA generated in the i-th sector in the total GVA and the base GVA index generated in the i-th sector similar to the industry output index sequentially serve as endogenous variables in this study. The test of the hypothesis was carried out in two stages: at the first stage, according to the results of econometric modeling, the indicator of the real effective ruble exchange rate to foreign currencies was chosen as the main exogenous variable; at the second stage, the basic system of equations was evaluated. Econometric calculations have been made for the following types of economic activity (according to the classification of the\tRussian National Classifier of Economic Activities: agriculture, hunting and forestry; mineral extraction; manufacturing; wholesale and retail trade; repairs of motor vehicles, motorcycles, household goods and personal appliances. During the econometric modeling, co-integrated equations for the pairs of indicators under study have been obtained; it has also been concluded that there are significant disparities in the selected economic sectors. The analysis of the obtained data has helped develop a set of measures of state regulation aimed at overcoming the existing disparities
After World War II, health was firmly integrated into the discourse about national development. Transition theories portrayed health improvements as part of an overall development pattern based on economic growth as modeled by the recent history of industrialization in high-income countries. In the 1970s, an increasing awareness of the environmental degradation caused by industrialization challenged the conventional model of development. Gradually, it became clear that health improvements depended on poverty-reduction strategies including industrialization. Industrialization, in turn, risked aggravating environmental degradation with its negative effects on public health. Thus, public health in low-income countries threatened to suffer from lack of economic development as well as from the results of global economic development. Similarly, demands of developing countries risked being trapped between calls for global wealth redistribution, a political impossibility, and calls for unrestricted material development, which, in a world of finite land, water, air, energy, and resources, increasingly looked like a physical impossibility, too. Various international bodies, including the WHO, the Brundtland Commission, and the World Bank, tried to capture the problem and solution strategies in development theories. Broadly conceived, two models have emerged: a "localist model," which analyzes national health data and advocates growth policies with a strong focus on poverty reduction, and a "globalist" model, based on global health data, which calls for growth optimization, rather than maximization. Both models have focused on different types of health burdens and have received support from different institutions. In a nutshell, the health discourse epitomized a larger controversy regarding competing visions of development.
Dubé, Laurette; Jha, Srivardhini; Faber, Aida; Struben, Jeroen; London, Ted; Mohapatra, Archisman; Drager, Nick; Lannon, Chris; Joshi, P K; McDermott, John
This paper introduces convergent innovation (CI) as a form of meta-innovation-an innovation in the way we innovate. CI integrates human and economic development outcomes, through behavioral and ecosystem transformation at scale, for sustainable prosperity and affordable universal health care within a whole-of-society paradigm. To this end, CI combines technological and social innovation (including organizational, social process, financial, and institutional), with a special focus on the most underserved populations. CI takes a modular approach that convenes around roadmaps for real world change-a portfolio of loosely coupled complementary partners from the business community, civil society, and the public sector. Roadmaps serve as collaborative platforms for focused, achievable, and time-bound projects to provide scalable, sustainable, and resilient solutions to complex challenges, with benefits both to participating partners and to society. In this paper, we first briefly review the literature on technological innovation that sets the foundations of CI and motivates its feasibility. We then describe CI, its building blocks, and enabling conditions for deployment and scaling up, illustrating its operational forms through examples of existing CI-sensitive innovation. © 2014 The New York Academy of Sciences.
Jake Johnston; Mark Weisbrot
Venezuela’s current growth is generally described as unsustainable, with various negative scenarios put forth, including spiraling debt, inflation, and balance of payments crises. However, these pessimistic forecasts have been far off the mark for most of the past decade. This paper looks at the available economic data to see if Venezuela’s economic recovery could be sustained, or even accelerated. It finds that Venezuela’s current economic growth is sustainable and could continue at the curr...
Fagerberg, J.; Srholec, Martin
Roč. 41, č. 3 (2017), s. 905-926 ISSN 0309-166X R&D Projects: GA ČR GAP402/10/2310 Institutional support: RVO:67985998 Keywords : national innovation systems * growth * technology Subject RIV: AH - Economics Impact factor: 1.338, year: 2016
Liang, Di; Zhang, Donglan; Huang, Jiayan; Schweitzer, Stuart
China's rapid and sustained economic growth offers an opportunity to ask whether the advantages of growth diffuse throughout an economy, or remain localized in areas where the growth has been the greatest. A critical policy area in China has been the health system, and health inequality has become an issue that has led the government to broaden national health insurance programs. This study investigates whether health system resources and performance have converged over the past 30 years across China's 31 provinces. To examine geographic variation of health system resources and performance at the provincial level, we measure the degree of sigma convergence and beta convergence in indicators of health system resources (structure), health services utilization (process), and outcome. All data are from officially published sources: the China Health Statistics Year Book and the China Statistics Year Book. Sigma convergence is found for resource indicators, whereas it is not observed for either process or outcome indicators, indicating that disparities only narrowed in health system resources. Beta convergence is found in most indicators, except for 2 procedure indicators, reflecting that provinces with poorer resources were catching up. Convergence found in this study probably reflects the mixed outcome of government input, and market forces. Thus, left alone, the equitable distribution of health care resources may not occur naturally during a period of economic growth. Governmental and societal efforts are needed to reduce geographic health variation and promote health equity. © The Author(s) 2016.
Victor, Peter A
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.
Kamp-Roelands, N.; Balkenende, J.P.; Van Ommen, P.
The Dutch Sustainable Growth Coalition (DSGC) has the following objectives: The DSGC aims to pro-actively drive sustainable growth business models along three lines: (1) Shape. DSGC member companies aim to connect economic profitability with environmental and social progress on the basis of integrated sustainable growth business models; (2) Share. DSGC member companies aim for joint advocacy of sustainable growth business models both internationally and nationally; and (3) Stimulate. DSGC member companies aim to stimulate and influence the policy debate on enabling sustainable growth - with a view to finding solutions to the environmental and social challenges we are facing. This is their first report. The vision, actions and mission of DSGC are documented in the Manifesto in Chapter 2 of this publication. Chapter 3 contains an overview of key features of an integrated sustainable growth business model and the roadmap towards such a model. In Chapter 4, project examples of DSGC members are presented, providing insight into the hands-on reality of implementing the good practices. Chapter 5 offers an overview of how the Netherlands provides an enabling environment for sustainable growth business models. Chapter 6 offers the key conclusions.
Verstegen, S.W.; Hanekamp, J.C.
Since the publication of Our Common Future in 1987, scientists have struggled with the concept of sustainability and many definitions are now in existence. However, one can differentiate between a much smaller series of themes. Working from these definitions, we focus on six such themes. We will
Singh, Rajendra; Alapatt, G. F.
According to United Nation, world population may reach 10.1 billion by the year 2100. The fossil fuel based global economy is not sustainable. For sustainable global green energy scenario we must consider free fuel based energy conversion, environmental concerns and conservation of water. Photovoltaics (PV) offers a unique opportunity to solve the 21st century's electricity generation because solar energy is essentially unlimited and PV systems provide electricity without any undesirable impact on the environment. Innovative paths for green energy conversion and storage are proposed in areas of R and D, manufacturing and system integration, energy policy and financing. With existing silicon PV system manufacturing, the implementation of new innovative energy policies and new innovative business model can provide immediately large capacity of electricity generation to developed, emerging and underdeveloped economies.
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.
Stignei Veronica Paºa
In the current conditions of Romania, the public sector needs to rethink its role as economic hub, to contribute together with the private sector to sustainable economic growth, and not least in the resumption of investment process. Administration is one of the most useful human activity, being found in any area and at all levels of government, in the complexity of all social life.
This report reviews the economic impacts of the energy dilemma. Presented are viewpoints that have emerged relating to: (1) the desirability of economic growth; (2) the relationship between economic growth and energy usage; (3) the effects of energy wage in limiting or expanding the opportunities for growth; and (4) whether there is some sense in…
Lund, Henrik; Hvelplund, Frede
of sustainable energy solutions involves the replacement of imported fossil fuels by substantial investments in energy conservation and renewable energy. In such situation, it becomes increasingly essential to develop economic thinking and economic models that can analyse the concrete institutions in which...... the market is embedded. This paper presents such tools and methodologies and applies them to the case of the Danish heating sector. The case shows how investments in decreasing fossil fuels and CO2 emissions can be made in a way in which they have a positive influence on job creation and economic development......This paper presents Concrete Institutional Economics as an economic paradigm to understand how the wish for sustainable energy in times of economic crisis can be used to generate jobs as well as economic growth. In most countries, including European countries, the USA and China, the implementation...
Mladen M. Ivic
Full Text Available Under Economic Growth mean constantly increasing volume of production in a country, or an increase in gross domestic product as the main quantitative indicators of production for a period of one year. Economic development is not only quantitative changes when it comes to the economic position of the country, but also qualitative changes (changing the economic structure, the emergence of new sectors and industries, new jobs, etc... They lead to a better and more complete satisfaction of all human needs. Production per capita is a measure of the ability of a society to achieve their goals of social and economic development, all in order to meet the constantly growing social needs. The increase in output per capita in economic theory is expressed as economic growth, without which no economic development, but does not have any economic growth to be a function of economic development.
N. Ya. Kazhuro
Full Text Available When the global community entered in the XXI century world emerging economy is more clearly considered as post-industrial, where a leading sector of the economy in the GDP production is not agriculture and not even industry but services. The main productive resource in such circumstances is not natural and productive capital but human capital, which is represented by storage of knowledge and skills accumulated by a person in the process of training and previous employment. Value of this capital is directly dependent on the level of education both general and professional. Human intellect becomes a main factor of production and professional. If the level is higher it means that such person can perform more valuable types of work for expand wealth of the country and it is transformed into intellectual capital. Consequently, a special market is formed that is a market of intellectual capital. An offer in this market is represented by labor with a high level of intellectuality and innovativeness and it has, in its turn, high market value. Well-handled components of human capital contribute to scientific-technical and social progress of the society, its sustainable economic development as the main types of final products unlike with previous stages of development are information and knowledge and the main factor of economic growth is productivity of mental labor workers. It is human capital that is one of the main factors ensuring transition to V and VI technological paradigms under current conditions. These paradigms are underlying a solid foundation for formation of new intellectual and information society. New knowledge and information technologies are making a breakthrough not only in the direct production of commodities but in the non-manufacturing sector as well (education, health, trade, finance etc..
Narayana, D L
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
This research used quantitative methods to document 15-year trends in various economic factors, from the very detailed (e.g., cost per ton for aggregate) to the very broad (total ALDOT annual receipts and expenditures), and for categories of receipts...
Barro, Robert J.; Rachel McCleary
Empirical research on the determinants of economic growth has typically neglected the influence of religion. To fill this gap, we use international survey data on religiosity for a broad panel of countries to investigate the effects of church attendance and religious beliefs on economic growth. To isolate the direction of causation from religiosity to economic performance, we use instrumental variables suggested by our analysis of systems in which church attendance and beliefs are the depende...
Lund, Henrik; Hvelplund, Frede
of sustainable energy solutions involves the replacement of imported fossil fuels by substantial investments in energy conservation and renewable energy (RE). In such situation, it becomes increasingly essential to develop economic thinking and economic models that can analyse the concrete institutions in which...... the market is embedded. This paper presents such tools and methodologies and applies them to the case of the Danish heating sector. The case shows how investments in decreasing fossil fuels and CO2 emissions can be made in a way in which they have a positive influence on job creation and economicdevelopment......This paper presents Concrete Institutional Economics as an economic paradigm to understand how the wish for sustainable energy in times of economiccrisis can be used to generate jobs as well as economic growth. In most countries, including European countries, the USA and China, the implementation...
Full Text Available In this research paper, the main theoretical arguments for discussions are as following: female labour force participation in transition countries, female employment in economic sectors and their main barriers, and the contributions of female labour force in economic growth. In methodology, the secondary data are used, and they are calculated through STATA program. The main analysis include: descriptive statistic, regression analysis and correlation matrix. Based on empirical results, the regression analysis has found that economic growth and government effectiveness has a negative impact on female labour force. Financial market development, enterprises reforms, and innovation have a positive impact on female labour force in SEE (South Eastern European countries. In T-statistic analysis all independent variables have shown a negative significance (T <2 on female labour force. In correlation, economic growth and financial development market have negative correlation on female labour force, but other variables have shown positive correlation. SEE countries should develop the female labour force in their economies, so their role may be crucial toward different economic problems and challenges in the modern economy.
The paper concerns the contradictions between sustainability and the present economic growth model. The discussion relates to the work of Jan Otto Andersson.......The paper concerns the contradictions between sustainability and the present economic growth model. The discussion relates to the work of Jan Otto Andersson....
Economic growth is a perennial national goal. Perpetual economic growth and wilderness preservation are mutually exclusive. Wilderness scholarship has not addressed this conflict. The economics profession is unlikely to contribute to resolution, because the neoclassical paradigm holds that there is no limit to economic growth. A corollary of the paradigm is that...
Antoinette van Niekerk
Full Text Available Many countries, particularly those in the developing world, are under increasing pressure to improve their growth rates in order to tackle pressing economic problems at the domestic level. Increasing export volumes can make a positive contribution to a country’s economic growth rate, but it can also endanger the environment. How to reconcile the often conflicting phenomena of increased export activity, stronger economic growth and a lower carbon footprint is the focus of this study. A core outcome of the study was the creation of a single list using a cross-section of international sources, of low-carbon environmental goods, and their ranking according to their inherent ability to reduce greenhouse gas emissions, South Africa’s capacity to produce them, and their economic benefits, as reflected in the export opportunities they present. These export opportunities were revealed through the application of the Decision Support Model (DSM, an export market selection tool that incorporates a systematic filtering and screening system. The results of the analysis should help guide policymakers in their strategic deliberations on which export sectors to incentivise and support with a view to encouraging more ‘green’ growth in South Africa in the years ahead. diffusion of such goods. If the production and export of environmental goods were to increase, it could have a potentially positive effect on economic and environmental objectives, such as raising economic growth rates and lowering greenhouse gas intensity, respectively. For the purpose of this study, an analysis of four existing lists of environmental goods led to the identification of 39 core environmental goods. These 39 goods were ranked according to three criteria: i the potential environmental benefits of each environmental good, using consensus among role players as a proxy; ii South Africa’s capacity to produce each environmental good, using the Revealed Comparative Advantage (RCA
Antoinette van Niekerk
Full Text Available Many countries, particularly those in the developing world, are under increasing pressure to improve their growth rates in order to tackle pressing economic problems at the domestic level. Increasing export volumes can make a positive contribution to a country’s economic growth rate, but it can also endanger the environment. How to reconcile the often conflicting phenomena of increased export activity, stronger economic growth and a lower carbon footprint is the focus of this study.A core outcome of the study was the creation of a single list using a cross-section of international sources, of low-carbon environmental goods, and their ranking according to their inherent ability to reduce greenhouse gas emissions, South Africa’s capacity to produce them, and their economic benefits, as reflected in the export opportunities they present. These export opportunities were revealed through the application of the Decision Support Model (DSM, an export market selection tool that incorporates a systematic filtering and screening system.The results of the analysis should help guide policymakers in their strategic deliberations on which export sectors to incentivise and support with a view to encouraging more ‘green’ growth in South Africa in the years ahead.diffusion of such goods. If the production and export of environmental goods were to increase, it could have a potentially positive effect on economic and environmental objectives, such as raising economic growth rates and lowering greenhouse gas intensity, respectively. For the purpose of this study, an analysis of four existing lists of environmental goods led to the identification of 39 core environmental goods. These 39 goods were ranked according to three criteria: i the potential environmental benefits of each environmental good, using consensus among role players as a proxy; ii South Africa’s capacity to produce each environmental good, using the Revealed Comparative Advantage
Reece, E Albert; Chrencik, Robert A; Miller, Edward D
Alignment is the degree to which component parts of academic health centers (AHCs) work cohesively. Full alignment allows AHCs to act quickly and cohesively toward common goals and to take advantage of opportunities that present themselves, particularly where collaboration is essential. Maryland's two major AHCs-University of Maryland Medicine (UMM) and Johns Hopkins Medicine (JHM)-have experienced periods of significant misalignment during each of their histories. Their most recent periods of misalignment caused significant negative economic and academic impacts. However, the process of realigning their clinical and research missions has not only given them a renewed economic vigor but has also paid significant dividends for the state of Maryland, helping it weather the current recession much better than other regions of the country. The two AHCs' continued economic success during the recession has led Maryland lawmakers to increasingly seek out their expertise in attempts to stimulate economic development. Indeed, UMM, JHM, and other fully aligned AHCs have shown that they can be powerful economic engines and offer a model of job growth and economic development in the 21st century.
The problems of poverty in the United States, and their resolution, are inextricably connected with the nature of the economic growth process and its...economic deprivation, but the adjustments required by growth have left in their wake new pockets of poverty . In the future, one of the key variables...that will determine how rapidly we can eliminate poverty in the United States will be the rate of increase in average incomes. And one of the key
Marius Eremia VLAICU POPA
Full Text Available In the context of what is implemented through dualism "ecosystem-efficient", sustainable development involves the care of the human potential of the present situation and the future of its natural resources, energy, materials and information. As an effect of responsibility for future generations, the efficient use of resources requires, at the same time, the operation of a sustainable economy, by diversification and development of the labour market in order to meet present and future demands of human society. At local and regional level, through the closing of mines and large enterprises, with an effect in restructuring the economic sector and employment, development strategies and rehabilitation of the affected industrial areas as a common principle approach, analyzing the problems, defining the objectives and policies, identifying actions to attack problems and provide for mechanisms that will enable the progress control. In this paper it is presented the concept of sustainable development as imperative for economic growth, diversification and development of the labour market, being dealt the representative criteria and principles of sustainable development strategy of any company. Are defined the components and objectives of a strategy for local and regional development of industrial areas affected by the restructuring.
This paper presents a stylized model of economic growth with bubbles. This model views asset price bubbles as a market-generated device to moderate the effects of frictions in financial markets, improving the allocation of investments and raising the capital stock and welfare. It shows that, contrary to conventional wisdom, bubbles can arise even if all investments in the economy are dynamically efficient.
This thesis consists of four papers: two of them deal with the effects on the forest sector of an increase in the demand for forest fuels, and two of them concern the relation between economic growth and pollution. Paper [I] is a first, preliminary study of the potential effects on the Swedish forest sector of a continuing rise in the use of forest resources as a fuel in energy generation. Sweden has made a commitment that the energy system should be sustainable, i.e., it should be based on r...
Over the past few decades, shift-share (SS) analysis is widely applied to explore the sources of local economic growth; however, it leaves unanswered the inequality question. The purpose of this paper is to exclude these biases caused by inequalities to generate a new identity, which fully shows the concept of externalities and comparative advantage, the nation-industry-region interactions and the structural change of local industry in a timely manner
The results highlight the need for policy makers to shift public outlays towards investment in physical infrastructure which will stimulate growth and consequently improve fiscal sustainability as opposed to recurrent expenditure. Keywords: Economic Growth, Fiscal Policy, Cointegration, Causality, Wagner' Law ...
I. Verheul (Ingrid); A.J. van Stel (André)
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
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
Nordtveit, Bjorn Harald
This article examines Western and Chinese discourses of education, sustainable growth and development. Education is increasingly considered as a means to fuel economic growth, especially since the 1980s, when conservative economic values became predominant in Western development thought. Despite a discourse on sustainability favouring ecologically…
Gotschol, A.; De Giovanni, P.; Esposito Vinzi, V.
This paper investigates whether environmental management is an economically sustainable business. While firms invest in green production and green supply chain activities with the primary purpose of reducing their environmental impact, the reciprocal relationships with economic performance need to
Dan Armeanu; Georgiana Camelia Crețan; Leonard Lache; Mihaela Mitroi
.... Despite the importance of potential GDP and the output gap, there are difficulties in reliably estimating them, as many of the models proposed in the economic literature are calibrated for developed...
Full Text Available The text is about issues concerning the management of driver for manufacturing enterprise economic sustainability and manufacturing enterprise sustainability assessment as the key aspect of the management of enterprise economic sustainability. The given issues become topical as new requirements for the methods of manufacturing enterprise management in the modern conditions of market economy occur. An economic sustainability model that is considered in the article is an integration of enterprise economic growth, economic balance of external and internal environment and economic sustainability. The method of assessment of economic sustainability of a manufacturing enterprise proposed in the study allows to reveal some weaknesses in the enterprise performance, and untapped reserves, which can be further used to improve the economic sustainability and efficiency of the enterprise. The management of manufacturing enterprise economic sustainability is one of the most important factors of business functioning and development in modern market economy. The relevance of this trend is increasing in accordance with the objective requirements of the growing volumes of production and sale, the increasing complexity of economic relations, changing external environment of an enterprise.
Full Text Available In this paper investigates the relationship between foreign direct investment and economic growth. On the one hand the effect of FDI on the economies of the MENA region, and, on the other hand, the impact of the economic growth of these countries on the attractiveness of FDI. Our objective, in this study, is to investigate the interrelationships between economic growth and FDI by using panel data models with simultaneous equations by Generalized Method of Moments (GMM for the period 1998-2011. Our results show that there is bidirectional causality between economic growth and FDI. This implies that economic growth and FDI attractiveness are complementary. These empirical perspectives are particularly attractive to politicians because they help them build sound economic policies to sustain economic development and improve their level of attractiveness. This study aims to contribute to the exiting literature by determining the relationship between FDI and growth by three aspects: Firstly, few scientific papers treat this relationship only in the theoretical framework. Secondly, few scientific papers treat this relationship in the MENA region. Finally, previous studies had found that the nexus FDI-growth is mixed.
Mengal, Philippe; Wubbolts, Marcel; Zika, Eleni; Ruiz, Ana; Brigitta, Dieter; Pieniadz, Agata; Black, Sarah
This article discusses the preparation, structure and objectives of the Bio-based Industries Joint Undertaking (BBI JU). BBI JU is a public-private partnership (PPP) between the European Commission (EC) and the Bio-based Industries Consortium (BIC), the industry-led private not-for-profit organisation representing the private sectors across the bio-based industries. The model of the public-private partnership has been successful as a new approach to supporting research and innovation and de-risking investment in Europe. The BBI JU became a reality in 2014 and represents the largest industrial and economic cooperation endeavour financially ever undertaken in Europe in the area of industrial biotechnologies. It is considered to be one of the most forward-looking initiatives under Horizon 2020 and demonstrates the circular economy in action. The BBI JU will be the catalyst for this strategy to mobilise actors across Europe including large industry, small and medium-sized enterprises (SMEs), all types of research organisations, networks and universities. It will support regions and in doing so, the European Union Member States and associated countries in the implementation of their bioeconomy strategies. Copyright © 2017 Elsevier B.V. All rights reserved.
First page Back Continue Last page Graphics. Technical Education and Economic Growth. Technical Education and Economic Growth. Review of the Present Status. Expanding no.s and impairment of quality; Faculty shortage; Grim situation at Masters and PhD levels; Regional imbalance; Absence of International flavour ...
Ahmad, Nisar; Naveed, Amjad; Naz, Amber
believe that structural change is an unimportant side effect of the economic development. On the contrary, economists associated with the World Bank and some others posit that growth is brought about by the changes in sectoral composition. The objective of this study is to empirically test...... the relationship between sectoral shares and economic growth by using the panel data for 20 developed countries. The results of the granger causality suggest that both services and agriculture sectors do granger cause economic growth, whereas industrial sector does not granger cause growth. Reverse causality does...... not hold for any of the three sectors. The results of Barro and Non-Barro regressions along with the set of control variables have suggested that services sector is negatively affecting growth, whereas both industrial and agriculture shares are positively affect economic growth....
Minos, Dimitrios; Butzlaff, Iris; Demmler, Kathrin Maria; Rischke, Ramona
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.
Freire-Gibb, L. Carlos
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...
Dicoi Daniel -Ioan
Full Text Available The purpose of this research is to bring out the fact that during the periods of economic crisis, the black market finds a warm place to develop and even to diversify the ways of expressing. Based on some data of the National Institute of Statistics and the Organization for Economic Co-operation and Development (OECD1 , I’m trying to prove the fact that during the last two years while the world economic crisis has occurred, the black market has been increasing and there have been new forms of expressing this phenomenon. Although there are some positive ways of this phenomenon, on the whole, the increasing of the black market percent of GDP represents a wound within a healthy economy, which if it cannot be stopped at least to be reduced. This work intends to make radiography of the present economic society, a period of economic crisis, during which the black market has found a warm place to express and extend, in most of the countries, including the developed ones, this phenomenon has reached alarming limits.
Full Text Available Macro-level manmade problems can often be best solved by understanding and manipulating the economics behind it. The world today is facing genuine problems of scarcity of resources and environmental amp ecological issues in view of intergenerational equity. The paper proposes a new approach of identification and classification of i Resources and ii Goods and services in the context of sustainable development. Every economy has ambitious economic growth aspirations which are often found conflicting with the commitments on natural resource conservation and climate change obligations. The proposed methodology is a reconciliation of the aspired economic growth of a region and the conservation of the resources and nature. The paper employs contribution of different types of goods and services in the gross domestic product GDP of a region to analyze sustainability of development. The important parameters that the paper establishes are Sustainability Ratio R Sustainable Growth Rate SG and the Sustainable Development Index SI. These parameters can be used to compare the sustainable development level of different regions. Ensuring natural resource and environmental sustainability will eventually ensure economic sustainability. The paper considers resource depletion concerns as well as the environmental pollutants biological risks carbon footprint warhead proliferation et cetera thereby ensuring all round sustainability from survival to economic end. The sustainability analysis is done for long periods such as 50 years 100 years et cetera. The index shows how sustainable the development of an economy is and how sustainability it is growing. The presently much revered GDP growth numbers are directionless it does not tell the type of growth an economy essentially has. The direction should be sustainability which the paper stresses upon. An illustration of sustainability analysis of India is also done. Such indices can help identifying sustainably developing
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.
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.
As countries develop death rates usually fall, especially for diseases that affect the young and result in substantial life-years lost. Deaths due to traffic accidents are a notable exception: the growth in motor vehicles that accompanies economic gr...
This paper begins with a discussion of the role played by upgrading in the promotion of sustainable growth. Upgrading is discussed in two different contexts, that of industrial clusters and that of global value chains (GVCs). Drawing on global and African experiences, the paper addresses the
Gotschol, Antje; De Giovanni, Pietro; Esposito Vinzi, Vincenzo
This paper investigates whether environmental management is an economically sustainable business. While firms invest in green production and green supply chain activities with the primary purpose of reducing their environmental impact, the reciprocal relationships with economic performance need to be clarified. Would firms and suppliers adjust their environmental strategies if the higher economic value that environmental management generates is reinvested in greening actions? We found out that environmental management positively influences economic performance as second order (long term) target, to be reached conditioned by higher environmental performance; in addition, firms can increase their performance if they reinvest the higher economic value gained through environmental management in green practices: While investing in environmental management programs is a short term strategy, economic rewards can be obtained only with some delays. Consequently, environmental management is an economically sustainable business only for patient firms. In the evaluation of these reciprocal relationships, we discovered that green supply chain initiatives are more effective and more economically sustainable than internal actions. Copyright © 2014 Elsevier Ltd. All rights reserved.
Teles, Vladimir Kühl; Ronaldo A. Arraes
This paper explores the link between an environmental policy and economic growth employing an extension of the Neoclassical Growth Model. We include a state equation to renewable natural resources, and consider natural resources as a component of the aggregate productivity. It is assumed that the change of the environmental regulations induces costs and that economic agents also derive some utility from stock capital accumulation vis-`a-vis environment. Using the Hopf bifurcation theorem, it ...
Bjørnskov, Christian; Foss, Nicolai Juul
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....
Indra de Soysa; Jennifer Bailey; Eric Neumayer
While democracy’s effect on economic growth has come under intense empirical scrutiny, its effect on economic sustainability has been noticeably neglected. We assess the effects of regime type and democratic institutional design on economic, or “weak” sustainability. Sustainability requires that stocks of capital do not depreciate in value over time. The World Bank gauges the rate of net investment in manufactured, human, and natural capital, a unified indicator of weak sustainability (the ge...
This thesis is centered around two empirical questions. The first question deals with the paradox that the ICT revolution does not pay off with higher productivity growth for the ICT- users. The interaction between production and knowledge accumulation and the ¿general- purpose' nature of the ICT
... economic sustainability. 219.19 Section 219.19 Parks, Forests, and Public Property FOREST SERVICE..., Social, and Economic Sustainability § 219.19 Ecological, social, and economic sustainability. Sustainability, composed of interdependent ecological, social, and economic elements, embodies the Multiple-Use...
N. Basturk (Nalan); R. Paap (Richard); D.J.C. van Dijk (Dick)
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
Madsen, Erik Strøjer; Pedersen, Kurt
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...
Phillips, Peter C.B.; Donggyu Sul
Some extensions of neoclassical growth models are discussed that allow for cross section heterogeneity among economies and evolution in rates of technological progress over time. The models offer a spectrum of transitional behavior among economies that includes convergence to a common steady state path as well as various forms of transitional divergence and convergence. Mechanisms for modeling such transitions and measuring them econometrically are developed in the paper. A new regression tes...
This thesis is centered around two empirical questions. The first question deals with the paradox that the ICT revolution does not pay off with higher productivity growth for the ICT- users. The interaction between production and knowledge accumulation and the ¿general- purpose' nature of the ICT revolution is examined to explain the paradoxical finding. The second question ¿ what explains the increase in wage inequality between high-skilled and low-skilled workers over the last two decades ¿...
Foss, Nicolai Juul
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....
Abstract. There is a general argument that, in all countries, the process of economic growth, governance and investment/capital formation is closely intertwined. The importance of the soundness and effectiveness of governance in attaining increased investment and sustained economic growth cannot be overemphasized.
It explains some of the factors that would reduce poverty to the bearest minimum in order to enhance sustainable economic growth. The paper also examine causes of poverty and identifying the effect of poverty on economic growth. African Journal of Cross-Cultural Psychology and Sport Facilitation Vol. 6 2004: 57-62 ...
Sustainability, Smart Growth, and Landscape Architecture is an overview course for landscape architecture students interested in sustainability in landscape architecture and how it might apply to smart growth principles in urban, suburban, and rural areas
Ding, Qi; Wang, Yali; Chen, Xinjun; Chen, Yong
A good understanding of social factors that lead to marine ecological change is important to developing sustainable global fisheries. We used balanced panel models and conducted cross-national time-series analyses (1970-2010) of 122 nations to examine how economic prosperity and population growth affected the sustainability of marine ecosystems. We used catches in economic exclusive zone (EEZ); mean trophic level of fishery landings (MTL); primary production required to sustain catches (expressed as percentage of local primary production [%PPR]); and an index of ecosystem overfishing (i.e., the loss in secondary production index [L index]) as indicators of ecological change in marine ecosystems. The EEZ catch, %PPR, and L index declined gradually after gross domestic product (GDP) per capita reached $15,000, $14,000, and $19,000, respectively, and MTL increased steadily once GDP per capita exceeded $20,000. These relationships suggest that economic growth and biodiversity conservation are compatible goals. However, increasing human populations would degrade marine ecosystems. Specifically, a doubling of human population caused an increase in the %PPR of 17.1% and in the L index of 0.0254 and a decline in the MTL of 0.176. A 1% increase in human population resulted in a 0.744% increase in EEZ catch. These results highlight the importance of considering social and economic factors in developing sustainable fisheries management policy. © 2016 Society for Conservation Biology.
... sustainability. 219.21 Section 219.21 Parks, Forests, and Public Property FOREST SERVICE, DEPARTMENT OF... Economic Sustainability § 219.21 Social and economic sustainability. To contribute to economic and social sustainability, the responsible official involves interested and affected people in planning for National Forest...
Botswana is one of a small group of countries in the contemporary era, virtually the only African country that has sustained rapid economic growth over an extended period. Over the past three decades, Botswana's real per capita income grew by more than 7 percent per annum, which is comparable to rates of growth achieved by countries like Korea and Thailand. Remarkably, this growth, facilit...
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
Carla Vladiane Alves Leite
Full Text Available In recent years the impact of economic development on the natural environment intensified geometric way in a world of problematic context of resource depletion and devastation of the environment to acquire raw material, endangering the ecosystems that sustain all the dynamics of humanity, especially the indigenous peoples that inhabit these places. This reality is not new, having been the subject of discussion since the beginning of the last century. As a result, the complexity and urgency of environmental issues have led the global community to work together to establish a new perspective and new ways for the environmental sustainable development, which could do live in harmony the need to develop economically and socially But with the right to a healthy and environmentally protected life, since it is a fundamental right to human dignity, recognized worldwide. For this, new public policies are being implemented and many of the old are being re- vised. Given the importance of the issue that raises debate, this paper intends to make a study of the doctrinal considerations involved theme in the light of diffuse rights and the protection of traditional peoples. Therefore, it will be observed the evolution of the concept, his balls and doctrinal and legal perspectives front of an international protective legislation Environmental Law and traditional peoples.
Various concerns have been expressed about the ability of the world economy to sustain the ever-expanding world population. This paper aims to provide additional empirical evidence to the ongoing debate about the impact of population growth on economic development with the Philippines as a case study. The findings of this study indicate the existence of a long-run equilibrium relationship between economic performance and population growth in the Philippines. That is, economic development in t...
A.J. van Stel (André); H.R. Nieuwenhuijsen
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
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
Richard H. Mattoon
The future of higher education and its relationship to economic growth were the focus of a one-day conference at the Chicago Fed on November 2, 2005. Cosponsored by the bank, the Committee on Institutional Cooperation, and the Midwestern Higher Education Compact, the event brought together over 100 academic, business, and government leaders.
Devkota, Surendra R.
This dissertation analyzes the sustainability of the economy of Nepal. The main empirical question addressed is whether the Tenth Plan of Nepal (2002--2007) will meet its projected economic output goal and achieve its primary goal of reducing poverty. To this end, economic growth scenarios are examined in terms of availability of energy demand and supply, and income disparity among different households. The structure of the Nepali economy is examined using a Leontief input-output table, a Ghosian supply-side input-output table, and a social accounting matrix for the year 1999. Based on the input-output analysis of energy demand and supply for the 10th Plan, it is unlikely that energy requirements of the projected output will be met, unless some extra sources of energy are developed. Households need to switch their energy use from fuel wood/biomass to other alternatives. In order to meet the target of the Plan vis-a-vis energy demand or supply, a few policy measures are urgently needed, though some of these options require many years to develop. Household income inequality and distribution is examined through the SAM multipliers; namely aggregate, transfer, open-loop, and closed-loop multipliers. The investment-income multiplier scenarios for the 10th Plan indicate that the nominal income of households may increase due to the increased investment, which will not necessarily improve the bottom deciles households, particularly socio-economically deprived households. Economic growth in Nepal during the past fifty years demonstrates that the modernization model is unsuccessful. Economic growth occurred at some centers at the cost of periphery. A huge regional disparity has developed between hills and plains, east and west, city and rural areas. Nepal's persistent poverty indicates a failure of modernization theory. The Tenth Plan would be another continuation of a failed legacy, unless social and natural endowments are considered for sustainability. Nepal could be an
Full Text Available The issue of the relationship between humankind and the environment became scientific and economic concerns of the international community since the first UN Conference on the Human Environment (Stockholm, 1972 and resulted in the work of the World Commission on Environment and Development, established in 1985. Report of the Commission presented in 1987 by GH Brundtland, entitled "Our Common Future" provided the first universally accepted definition of sustainable development as "development that meets the needs of the present generation without compromising the opportunities of future generations to meet their own needs". Brundtland Report, 1987, was reaffirmed by the United Nations Conference on Environment and Development / Earth Summit held in Rio de Janeiro - Brazil, 1992 which established the principles of Agenda 21, which was intended to be a guide implementation of sustainable development for the 21st century, a development that was required to be applied at national, regional and local level.  In the context of developing new eco-economic system adopted a number of international conventions that establish detailed obligations of the States and strict implementation deadlines climate change, biodiversity conservation, protection of forests and wetlands, limiting the use of certain chemicals, access information on the state of the environment and other international legal space outlining the practical application of the principles of sustainable economic development in ecological conditions.
Kefi Mohamed Karim
Full Text Available The objective of this paper is to study the effect of governance and povrety on economic growth of a set of eight developing countries during the period 2000-2009, using a dynamic and static panel data model and a simultaneous equations model. The key findings generated from these three empirical tests stipulate a negative effect of governance on povrety and a positive effect of political instability and corruption on poverty
The consequences of a zero economic growth (ZEG) policy are examined to see what limits to growth, some of which already exist, are desirable and what changes in our institutions are required to impose a no-growth policy. Past periods of zero or negative growth have increased unemployment, raised employability standards, and increased income-distribution inequalities with a subsequent lowering of the living standard. Zero population growth would offset this somewhat by freeing the capital now spent on education and career training and using it to raise per capita living standards if a work-sharing and unemployment-payment system were devised. Undesirable social implications would be felt both if a lack of employment opportunities reduced competition and consumption habits or if it led to intensive competition. Advocates of ZEG propose to restrain only those areas using nonrenewable resources and causing pollution of the environment, while expanding the service areas. The service sector (e.g., transportation and utilities) is also polluting and uses nonrenewable resources, however, pointing up their failure to account for indirect consumption. Many undeveloped countries already have ZEG but would not be content for the U.S. to halt growth opportunities. ZEG would be difficult to enforce and would do nothing to promote pollution control. (DCK)
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.
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.
A.J. van Stel (André)
textabstractThe importance of entrepreneurship for achieving economic growth in contemporary economies is widely recognized, both by policy makers and economists. However, empirical evidence linking entrepreneurship to economic growth is scarce. This book investigates the relation between
... women's economic empowerment, particularly around extractive industries. Research led by the universities of Chicago and Stellenbosch is generating evidence on how women's political participation and representation in Africa influences the connection between economic growth and women's economic empowerment.
WASHINGTON - The U.S. Environmental Protection Agency (EPA) today announced that 22 communities will receive technical assistance to pursue development strategies that support smart growth and sustainability goals and encourage local economic develo
Malik, Muhammad Asad Saleem; Shah, Syed Asim; Zaman, Khalid
This study examined the long-run and causal relationships between international tourism, biodiversity loss, environmental sustainability, and specific growth factors under the premises of sustainable tourism in Austria, by using a consistent time series data from 1975 to 2015. The results reveal that inbound tourism, per capita income, and population density affected the potential habitat area while population density largely affected the food production in a country. Inbound tourism and population density both deteriorate the environmental quality in a form of increasing carbon dioxide (CO2) emissions and fossil fuel energy consumption while per capita income reduces the fossil fuel energy consumption. Food exports increase per capita income, while food imports and population density both decrease economic growth. Inbound tourism and economic growth advance population density while forest area and food exports decrease the population density. The study supports growth-led tourism and growth-led food production in a country.
Full Text Available The sustainable economic growth of companies constitutes a strategic management objective as it is ofgeneral interest. The companies’ accrued net worth and their capacity to generate profit result in increasedcompetitiveness. This paper presents a general model to analyze the companies’ economic growth grounded on theinvested capital profitability that is illustrated in an adequate case study. The described model highlights the majorfactors influencing economic growth at a microeconomic level as well as the direction they act, providing thepossibility to better substantiate decisions that serve this purpose.
This paper argues that indicators of anthropometric shortfall - especially low height and low weight-for-age - are uniquely suited for assessing absolute deprivation in developing countries. Anthropometric indicators are relatively precise, readily available for most countries, reflect the preferences and concerns of many poor people, consistent with reckoning the phenomenon directly in the space of functionings, intuitive, easy to use for advocacy, and consistent over time and across subgroups. Anthropometric indicators can therefore complement (but not replace) standard indicators of income/consumption poverty, especially for comparisons across subgroups, within households, across countries, and in the long run. In addition, the paper analyses spells of change in malnutrition over time, finding that the association between economic growth and chronic child malnutrition is very small (but statistically significant) and much lower than the elasticity of growth on poverty. The policy implication of this finding is that direct interventions aimed at reducing infant malnutrition are required.
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
The question that motivates this article has been a matter of dispute: Is it possible to combine perpetual economic growth and longterm environmental sustainability based on the premise that economic growth can be fully decoupled from negative environmental impacts? The article addresses...... this question from the position of critical realism. An empirical study focusing on the housing sector is conducted, indicating that housing stock growth and economic growth have been, at best, weakly decoupled from environmental impacts. In the long run, it seems implausible that the degree of decoupling can...... be increased at a rate sufficient to compensate for continual growth in the volume of housing stock. A further elaboration of the topic at an ontological level leads to the conclusion that continual economic growth and long-term environmental sustainability can hardly be combined....
Dam, van Y.K.
Aim: To discuss the drivers and impediments sustainability of social systems.
Design / Research methods: Analysis of and reflections on the discussions on campus antifragility during the 4th international conference on efficiency, sustainable business and sustainable economic development,
The purpose of this Country Economic Memorandum (CEM) is to contribute to the ongoing discussion in Guatemala about means of accelerating economic growth to help achieve targets set in the 1996 Peace Accords as a key ingredient in the fight to reduce national poverty rates. Chapter I examines historical and recent developments and uses a benchmarking growth methodology to identify the measures and policies most conducive to increasing long-term economic growth. Those areas that are identified...
Usman A.; Mobolaji H. I; Kilishi A.A; Yaru M. A; Yakubu, T. A
The debate on the use of fiscal policy for economic stabilization and inducement of economic growth is an old one. Key issue in this debate relates to the efficacy of public expenditure on stimulating economic growth. The neo-classical school held on extreme position by refuting the usage of fiscal policy to regulate the economy even in the time of economic crisis. At the other extreme are those who emphasize the efficiency of fiscal policy in stabilizing economic fluctuations and stimulating...
John E. Mitchell; Daniel W. McCallum; Lewis E. Swanson; John Tanaka; Mark Brunson; Aaron Harp; L. Allen Torell; H. Theodore Heintz
Social and economic systems provide a context and rationale for rangeland management. Sustaining rangeland ecosystems requires attention to the social and economic conditions that accompany the functioning of those systems. We present and discuss economic and social indicators for rangeland sustainability that have possible relevance in the United States. A brief...
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
Truong Hong Trinh
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.
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.
Haan, Jakob de; Sturm, Jan-Egbert
Often it is maintained that economic freedom may further high levels of economic growth. This paper compares various indicators for economic freedom. It is concluded that although these measures differ somewhat in their coverage, they show similar rankings for the countries covered. Some elements in
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'
Salih Özgür SARICA
Full Text Available State level economy has always been relying on its major metropolitan area’s economic success. So, such metropolitan agglomerations have been considered the only agents that can foster the state’s economic standing as if other economic places do (or may not have significant contribution to the regional economy. In contrast, as some major cities enhance their economic well-being and agglomerate in specialized sector, the rest of the region lose their economic grounds or stay constant by widening the economic gap among cities. Therefore, an institutional approach can help to establish new regional arrangements to substitute all economic places to coordinate each other and succeed the economic growth as part of state government by reducing the disparities. In this sense, this study builds upon the inquiry that seeks the impacts of some economic disparities among economic places (counties on the performances of state level regional economy.
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.
This paper presents the data sources and methodology used to estimate Green Net National Product (GNNP), an economic metric of sustainability, for Puerto Rico. Using the change in GNNP as a one-sided test of weak sustainability (i.e., positive growth in GNNP is not enough to show...
In this study we reviewed and analyse the effect of external debt service payment practices on sustainable economic growth and development with particular emphasis on Nigeria. To achieve the objective of this research, we use debt payment to Multilateral Financial creditors, Paris club creditors, London club creditors, ...
Full Text Available New information technologies have led to the rapid and effective growth of social networks. The amount of data produced by social networks has increased the value of the big data concept, which is one of the popular current phenomena. The immediate or unpredictable effects of a wide array of economic activities on large masses and the reactions to them can be measured by using social media platforms and big data methods. Thus, it would be extremely beneficial to analyze the harmful environmental and social impacts that are caused by unsustainable business applications. As social networks and big data are popular realms currently, their efficient use would be an important factor in sustainable economic development. Accurate analysis of people’s consumption habits and economic tendencies would provide significant advantages to companies. Moreover, unknown consumption factors that affect the economic preferences of individuals can be discovered and economic efficiency can be increased. This study shows that the numerous solution opportunities that are provided by social networks and big data have become significant tools in dynamic policy creation by companies and states, in solving problems related to women’s rights, the environment, and health.
Colombo, Francesca; García-Goñi, Manuel; Schwierz, Christoph
Patients with multimorbidity are responsible for more than half of all healthcare utilization, challenging the healthcare budgets of all European nations. Although the European Union is showing signs of a fragile economic recovery, achieving sustainable growth will depend on delivering a combination of fiscal responsibility, structural reforms, and improved efficiency. Addressing the challenges of multimorbidity and providing more effective, affordable, and sustainable care, has climbed the political agenda at a global, European, and national level. Current healthcare systems are poorly adapted to cope with the challenges of patients with multimorbidity. Little is known about the epidemiology and natural history of multimorbidity; the evidence base is weak; clinical guidelines are not always relevant to this population; and financing and delivery systems have not evolved to adequately measure and reward quality and performance. Pockets of innovation are, however, beginning to emerge. In Spain, for example, the ongoing economic crisis has forced regional governments to deliver substantial efficiency savings and, with this in mind, integrated care programmes have been introduced across the country for people with chronic disease and multimorbidity. Early results suggest that formalized integrated care for patients with multimorbidity improves their perceptions of care coordination, reduces hospital and emergency admissions and readmissions, and reduces average costs per capita. Such innovations require meaningful investments at a national level – something that is now supported within the framework of the European Union’s Stability and Growth Pact. PMID:29090168
Full Text Available In this study, the relationships between financial development, environmental quality and economic growth are studied based on data from 102 countries over the period 1980–2010 using the generalized method of moments (GMM estimation. The econometric results show the following three basic conclusions: First, both financial development and environmental quality have a significant impact on economic growth and should be included in the production function of the economic growth model as important variables. Second, there is a significant and robust “inverted U-shaped” relationship between financial development and economic growth; with the improvement of the level of financial development, economic growth would first increase and then decrease, which is consistent with the results of previous studies. Third, there is also a significant and robust “inverted U-shaped” relationship between economic growth and carbon emissions, indicating that there exists a “critical point” at which achieving economic growth comes at the expense of environmental quality, and after passing the critical point, the deterioration of environmental quality will lead to a significant slowdown in economic growth. In addition, the econometric analysis in this paper also shows that there was a mutually promoting and strengthening relationship between financial development and environmental quality. Specifically, the degree of financial development can further strengthen the promoting effect of environmental quality on economic growth; meanwhile, an improvement in environmental quality can also strengthen the promoting effect of financial development on economic growth. Financial development and environmental quality could influence economic growth through strengthening the marginal product effects of capital and labor, which further indicates the that both financial and environmental factors play an important role in modern economic development.
Full Text Available In recent two decades, due to contributions of political macroeconomics, the focus of macroeconomics turned away from a narrow perspective based on market and privatisation (market fundamentalism towards a broader perspective based on institutions and values (institutionalism. Within the institutional paradigm, the emphasis nowadays is put on inclusive institutions. The main thesis of one of leading proponents of political macroeconomics, D. Acemoglu, is: “growth is much more likely under inclusive (economic and political institutions than extractive institutions.” Good institutions are characterized by three attributes: 1 they establish and protect property rights; 2 they restrict social elites which strive to expropriate income and property of others members of society; 3 they provide equal chances for employment, social security and civil rights to all individuals. Good institutions contribute to political stability, successful macroeconomic policy, and enhance initiatives. The key role of institutions is to secure stability and continuity. Extractive institutions can negatively affect entrepreneurship and entire economic development in two ways: a by increasing the opportunity cost, resulting in upward movement of the opportunity cost curve; and b by affecting return to entrepreneurship resulting in leftward movement of the return to entrepreneurship curve. Apart from independence and accountability of institutions what is needed is sufficient level of inclusion. Inclusion should encompass three dimensions: personal, financial, and political. The introduction of principles of independence, accountability, and inclusion is essential for emergence and performance of all institutions.
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.
Dreyer, Johannes Kabderian; A. Schmid, Peter
of economic integration in Europe. The aim of this article is to investigate whether the EU and EZ memberships enhance growth of their members. In order to perform our empirical analysis, we apply an augmented Solow growth model using convergence analysis and the panel Generalized Method of Moments (GMM......One of the major economic reasons for the creation of the European Union (EU) and of the Euro-zone (EZ) was an expected bonus of economic growth associated to member states. While several studies exist on the growth bonus of the EU membership, there are none for the EZ, the latest and deepest step......) to estimate its coefficients. We restrict the time frame of our research on the first 14 years of the Euro - from 1999 to 2012. In line with economic intuition we find a positive and neutral impact of EU and EZ memberships on economic growth respectively. These economic results can be considered especially...
Florin Teodor BOLDEANU
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.
Clive E. Coetzee
Full Text Available The economic growth and economic freedom nexus is studied in this article and applied to South Africa in an empirical study. Economic freedom is founded on the free or private market economy, based on competition, where voluntary exchange occurs and a legislative framework ensures the safety of market agents and private property. As part of the literature study, the Index of Economic Freedom, the Economic Freedom of the World Index and the Freedom in the World Index were studied and applied to South Africa. An empirical analysis was conducted, cross-correlation functions were estimated, and Granger causality functions, regression analysis and finally a vector auto-regression model (VAR were constructed and estimated. The research findings from South Africa support the literature, suggesting that there are indeed some indications that greater levels of economic freedom support higher rates of economic growth in a country.
Universities UK, 2011
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…
Nilsson, Asbjørn Lupo; Giersing, Josephine; Magrane, David; Breitenstein, Marcus
This paper is written with the purpose of looking into sustainable development. More specifically, it will look at the relationship between the environmental and economical pillars of sustainability. In order for sustainable development to take place, the economy must be growing while maintaining earth’s natural resources. Factory farming might be strong from an economic point of view, but it does not seem to be environmentally friendly. Therefore we used factory farming as an example of an i...
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.
Full Text Available Country risk, sustainability an economic safety are becoming more important in the contemporary economic world. The aim of this paper is to present the importance of comparison formalisation of country risk, sustainability, and economic safety indices for strategic alignment. The work provides an analysis on the relationship between country risk, sustainability an economic safety in EU countries, based on statistical data. Investigations and calculations of rankings provided by Euromoney Country Risk Index, European Economic Sustainability Index as well as for Economic Security Index were made and the results of EU country ranking based on three criteria were provided. Furthermore, the data for the Baltic States was summarised and the corresponding index of consistency for random judgments was evaluated.
Full Text Available This paper investigates correlation between subsidies to invest in development projects, innovation, financial performance and sustainable growth. The focus of the study is on subsidies for co-financing purchases of new technological equipment aimed at promoting innovation and production of new products. Subsidies are distributed based on the prepared European Union (EU and national programs for the purposes of faster economic growth in accordance with the policies and guidelines of the EU. The paper employs a combination of enterprises’ accounting data, data on subsidies and unique in-depth data obtained through a survey at the enterprise level. The results revealed a positive impact of subsidies on financial indicators, and only limited effect on innovation. While analyzing sustainable growth, we have established that the enterprises that received subsidies had a higher growth of financial indicators.
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 g...
McCleary, Rachel; Barro, Robert
Empirical research on the determinants of economic growth typically neglects the influence of religion. To fill this gap, this study uses international survey data on religiosity for a broad panel of countries to investigate the effects of church attendance and religious beliefs on economic growth. To isolate the direction of causation from religiosity to economic performance, the estimation relies on instrumental variables suggested by an analysis in which church attendance and religious bel...
The impact of population growth on environment and its implication for survival is an important issue. Although considerable attention has been paid to this problem but systematic studies have been inadequate. Rapid population growth and economic development and daily demand for natural resources for domestic and ...
Socialist economic growth in China and Eastern Europe has long been characterized by investment hunger, drives toward expansion, and cyclical fluctuation of investment rates. For decades, relatively high growth rates - often accompanied by a shortage of consumption goods - have typically been achieved at the consumers'expense. Treating social planners as self-interested bureaucrats, the author offers a positive model to help understand the norms of socialist economic growth. This model demons...
Full Text Available Tax evasion means the avoidance of declaring and paying taxes. The purpose of the research is to identify ways and mechanisms of tax evasion through fictitious economic operations and how this kind o tax evasion can influence sustainable development. The principal methods are researching tax evasion cases investigated by the Romanian authorities responsible for combating this phenomenon, court trials on tax evasion and using the bibliographic references in the field. The data used are obtained through open sources of the authorities specialized in combating tax evasion for the cases made public, the media and also from specialised literature. The principal results are that this type of tax evasion is manifested through transactions with “ghost companies”, with offshore companies and transactions between associated enterprises. The main causes of this problem are: high taxation, corruption, inefficient government and tax authorities, no fiscal education and very hard tax legislation. The consequences are that the state budget is affected, the companies that do business legally are affected and also the final consumers, so Romania will not have economic growth and the quality of life will not improve. The main conclusion is that in order to have sustainable development, tax evasion in general and this kind of tax evasion in particular must be eradicated. The measures that have to be taken are to prevent tax evasion and to tighten controls but without violating taxpayers rights and without making abuses
Factors accountable for successful and sustainable home based economic activities were determined. Impacts of home based economic activities were found to be significant in the education of the children, income security and social welfare of families. The study emphasized home economic entrepreneurial education, ...
Martinez-Alier, Joan [Department of Economics and Economic History, Universidad Autonoma de Barcelona (Spain); Pascual, Unai [Department of Land Economy, University of Cambridge (United Kingdom); Vivien, Franck-Dominique [Department of Economics, Universite de Reims Champagne Ardenne (France); Zaccai, Edwin [Institute for Environmental Management and Land Planning, Universite Libre de Bruxelles (Belgium)
'Sustainable de-growth' is both a concept and a social-grassroots (Northern) movement with its origins in the fields of ecological economics, social ecology, economic anthropology and environmental and social activist groups. This paper introduces the concept of sustainable de-growth by mapping some of the main intellectual influences from these fields, with special focus on the Francophone and Anglophone thinking about this emergent notion. We propose hypotheses pertaining to the appeal of sustainable de-growth, and compare it to the messages enclosed within the dominant sustainable development idea. We scrutinize the theses, contradictions, and consequences of sustainable de-growth thinking as it is currently being shaped by a heterogeneous body of literature and as it interacts with an ample and growing corpus of social movements. We also discuss possible future paths for the de-growth movement compared to the apparent weakening of the sustainable development paradigm. (author)
Full Text Available Neoclassical and Keynesian theories of economic growth assume the use of Cobb-Douglas modified functions and other aggregate econometric approaches to growth dynamics modelling. In that case explanations of economic growth are based on the logic of the used mathematical ratios often including the ideas about aggregated values change and factors change a priori. The idea of assessment of factor productivity is the fundamental one among modern theories of economic growth. Nevertheless, structural parameters of economic system, institutions and technological changes are practically not considered within known approaches, though the latter is reflected in the changing parameters of production function. At the same time, on the one hand, the ratio of structural elements determines the future value of the total productivity of the factors and, on the other hand, strongly influences the rate of economic growth and its mode of innovative dynamics. To put structural parameters of economic system into growth models with the possibility of assessment of such modes under conditions of interaction of new and old combinations is an essential step in the development of the theory of economic growth/development. It allows forming stimulation policy of economic growth proceeding from the structural ratios and relations recognized for this economic system. It is most convenient in such models to use logistic functions demonstrating the resource change for old and new combination within the economic system. The result of economy development depends on starting conditions, and on institutional parameters of velocity change of resource borrowing in favour of a new combination and creation of its own resource. Model registration of the resource is carried out through the idea of investments into new and old combinations.
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 â€œre-launchâ€ 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
Full Text Available One of the most important aspects of human development is the ability to have a decent standard of living. The secret of the "economic miracle" of many countries that have high standard of living, in fact, is simple and quite obvious. All these countries are characterized by high and sustained development of national economy, low unemployed population rate, growth of income and consumption. There is no doubt that economic growth leads to an increase in the wealth of the country as a whole, extending its potential in the fight against poverty, unemployment and solving other social problems. That is why a high level of economic growth is one of the main targets of economic policy in many countries around the world. This brief literature review discusses main existing theories and models of economic growth, its endogenous and exogenous aspects. The main purpose of this paper is to determine the current state of development of the economic growth theories and to determine their future directions of development.
This paper begins with a brief analysis of some typical processes which affect in a dramatic way the present and the future resources of world development. Sustainability is one of the key-concepts on which a solution of these negative processes could be based. The abstract idea of sustainability can get a more substantial practical support in connection with the concept of triple bottom line, proposed by J. Elkington. The triple bottom line views the industrial performances of a corporation,...
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?
.... This thesis discusses nation building by fusing Islam, pluralism, democracy, and modernity. It argues that Malaysia's religious tolerance and adherence to western development models fostered economic growth since its independence...
Anca Florentina Gavriluţă (Vatamanu)
... 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...
J. Tinbergen (Jan); H.C. Bos (Henk)
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
Cooper, Antony K
Full Text Available on Development Information, Science and Technology (CODIST-1) Addis Ababa, Ethiopia, 28 April – 1 May 2009 Geoinformation perspectives on innovation and economic growth Antony K Cooper Operating Unit Fellow, CSIR, PO Box 395, Pretoria, 0001, South... and economic growth, for effective policy formulation and for planning, implementing and monitoring development projects. Geoinformation has many applications – those in resource management and urban planning are well known, but the innovative applications...
Otenko Iryna Pavlivna
Full Text Available This article is intended as a contribution to the ongoing analysis of economic sustainability in international business. This study is presented with a view toward further understanding and agreement of the key concepts of sustainability. Approaches to sustainability are considered, important benchmarks and essential characteristics of sustainable development in international business are included. The article demonstrates how the concept of economic sustainability can be applied to the business level. The main ideas of the most widespread concepts on resource management are presented. Incorporation of ESG and financial factors in the concept of sustainable investing is considered. Emissions that are responsible for climate change, namely top emitters, key issues and figures are presented.
Frankhauser, S.; Tol, R.S.J.
The economic impact of climate change is usually measured as the extent to which the climate of a given period affects social welfare in that period. This static approach ignores the dynamic effects through which climate change may affect economic growth and hence future welfare. In this paper we
Using a political-economic approach supplemented with insights from human ecology, this volume analyzes the long-term dynamics of food security and economic growth. The book begins by discussing the nature of preindustrial food crises and the changes that have occurred since the 19th century with
However, the converse relationship – that economic growth promotes gender equality – is less strong. Indeed, some of .... 'Economic empowerment is about making markets work for women (at the policy level) and empowering ...... For instance, studies from Argentina by Cerrutti (2000) and Mexico by Parrada and Zenteno ...
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
Mosab I. Tabash
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.
Sustainable development has become a key part of the global educational discourse. Education for sustainable development (ESD) specifically is pronounced as an imperative for different curricula and regarded as being critical for teacher education. This article is based on research that was conducted on economic and management sciences (EMS)…
Krozer, Yoram; Abraham, Martin
This article is focused on the economics of sustainable technologies from the mainstream and heterodox perspectives. The aim is to present major concepts, methodologies, and debates for public use. The paper is focused on decision making aiming at the development and use of sustainable technologies.
Loureiro da Costa Lira Gargalo, Carina; Carvalho, Ana; Matos, Henrique A.
that truly sustainable design alternatives can befound.This work proposes a framework,called ‘Techno-Economic Sustainability Environmental Impact Diagnosis’ (TESED) that allows users to assess chemical/biochemical processes in a product oriented analysis.TESED is asystematic and generic approach that can...
The study attempts livestock husbandry and sustainability of small farmers in West Gojjam region, Ethiopia where a ... and their engagement in different operations of livestock husbandry for economic sustainability. Systematic random sampling was ..... sell and purchase livestock from the livestock markets and within village ...
Hatai, L.D.; Sen, Chandra
The development of a method for generating Sustainable Livelihood Security Index (SLSI) for agricultural sustainability and evaluating the existing status has been reported. Some measures have been suggested to promote sustainable agriculture of Orissa. This state has been selected since it faces wide inequality, improper management and over-exploitation of natural resources and explosion of population. These have created a threat to ecological balance and economic as well as social status of...
The good news is that many of the solutions to this extraordinary problem are within reach. Many of the solutions to global warming are not only feasible, they are economically and socially beneficial. While some claim that addressing global warming will have a negative impact on the economy, the most recent report by the Intergovernmental Panel on Climate Change ("IPCC") asserts that there is substantial economic potential for the mitigation of greenhouse gas emissions over the coming decade...
Wangel, Arne; Fold, Niels
of trade unions, which lack the strength to substantially improve wages or influence the institutions of the labour market. So a frenzied labour market tries to balance the upgrading of skills and the control of wages. The paper concludes that a focus on sustainable urbanisation will renew the debate......Foreign capital, particularly from the transnational electronics industries, has spurred urban growth in Penang, Malaysia. But the demand for labour-quantitative and qualitative-exceeds its supply from the northern states. Local and national labour policies are decided without the involvement...
Elbers, Chris; Gunning, Jan Willem
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
Liyanagunawardena, Tharindu R.; Lundqvist, Karsten O.; Williams, Shirley A.
Millions of users around the world have registered on Massive Open Online Courses (MOOCs) offered by hundreds of universities (and other organizations) worldwide. Creating and offering these courses costs thousands of pounds. However, at present, revenue generated by MOOCs is not sufficient to offset these costs. The sustainability of MOOCs is a…
Mulder, P.; van den Bergh, J.C.J.M.
Sustainable development has become the dominant concept in the study of interactions between the economy and the biophysical environment, as well as a generally accepted goal of environmental policy. So far, economists have predominantly applied standard or neo-classical theory to environmental
By performing a cross-country growth regression for the 1970-1998 period this paper finds evidence for the fact that the impact of policy uncertainty on economic growth depends on the development of the financial sector. It appears that a higher level of financial development partly mitigates the
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
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.
Since independence, Ghana has adopted different strategies in a quest for a sustainable economic development agenda to better the lives of her citizens. The Nkrumah administration initiated the process through an Import-Substitution Industrialisation-led economic development policy agenda from 1957 to 1966. That was ...
Stern, David I
This paper reviews the mainstream, resource economics, and ecological economics models of growth. A possible synthesis of energy-based and mainstream models is presented. This shows that when energy is scarce it imposes a strong constraint on the growth of the economy; however, when energy is abundant, its effect on economic growth is much reduced. The industrial revolution released the constraints on economic growth by the development of new methods of using coal and the discovery of new fossil fuel resources. Time-series analysis shows that energy and GDP cointegrate, and energy use Granger causes GDP when capital and other production inputs are included in the vector autoregression model. However, various mechanisms can weaken the links between energy and growth. Energy used per unit of economic output has declined in developed and some developing countries, owing to both technological change and a shift from poorer quality fuels, such as coal, to the use of higher quality fuels, especially electricity. Substitution of other inputs for energy and sectoral shifts in economic activity play smaller roles. © 2011 New York Academy of Sciences.
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.
Full Text Available This paper starts from the idea that the key determinants for economic growth can be: smart growth (promoting knowledge, innovation, education and the digital society, sustainable growth (a more competitive production, with a better use of resources and an economic growth that promotes togetherness (higher workforce participation, acquiring skills and the fight against poverty. I have also considered the fact that economic growth cannot be made at random, but has to consider the characteristics, as well as strong and weak points of the counties that are being analyzed. Notes so far are complemented by the analysis of some benchmarks for the economy of the EU countries (GDP, employment rate of labor, employment rate of dropping school, amount of GDP allocated to Research&Development, human poverty index. EU interest in obtaining long-term prosperity lies in analyzing the factors that contribute to this objective. Evaluation of the benchmarks and factors impacting economic growth highlights the purpose of this paper and its importance for the XXI century society. Proposed strategies involve a thorough research on the current situation in Romania and in the EU and in this case I consider that the economies are intrinsically linked and no member state can effectively address global challenges in an isolated action.
Pedersen, Jonna; Lindquist, Carl Rickard
The joint interest in disseminating an entrepreneurial mindset to the students even before graduation has led to cooperation between VIA University College and the Central Denmark Region to support entrepreneurship in the Professional Bachelor’s degree programmes at VIA University College....... This paper addresses the presumptions behind the project. The presumptions in relation to entrepreneurship demonstrate that the effort should target both growth entrepreneurs and SMEs in a wide sense; there is a need for growth entrepreneurs with ambitions to generate breakthrough innovation as well...... as the many others with more modest ambitions about incremental innovation. In relation to education and training this concerns the combination of curricular and non-curricular activities. Entrepreneurship teaching must be realised in close cooperation with the degree programmes and should focus on both...
My intention in this brief essay is to verify whether the results obtained by Barro (1990) and by Alesina and Rodrick (1994) in relation to the influence of public investments on the economy’s rate of growth are also confirmed when a share of public spending is allocated to public consumption in the economy’s utility function. Introducing a positive externality on private consumption into the intertemporal optimization problem seemingly generates less unequivocal results about the role of pub...
Faiz Mokhtar, Mohd; Omar, Badrul; Hisyamudin Muhd Nor, Nik; Fazlinda Mohd Pauzi, Nur; Hassan, Sulaiman; Mohamed, W. A. Wan
Sustainability issues will provide impact on the environment, social and economy. The importance of these three aspects of sustainability must be look at in tandem. Some issues of these three pillars getting more attention by companies since they are more interested to identify issues that may affect performances related to their people or profit. Through CSRs report released by various international companies, this paper identified the value which companies place for social and economic sustainability. Result shows that human right and, occupational and safety have highest concern by companies while Product Utilities is less concern from other social issues. From an economic aspect, sales and net profit are the most influencing factors of sustainability while the raw material cost is shown as of the least concern. Based on the results, companies should consider the issues on social and economic aspects following these priorities.
CHIRCULESCU MARIA FELICIA
Full Text Available This paper aims to highlight the implications of fiscal policy and budgetary measures on the Romanian economy after its inclusion on the coordinates of the market economy. Thus, we analyzed the evolution of macroeconomic indicators in conjunction with fiscal measures adopted. The research shows that the measures adopted in fiscal plan were passed on the economy, the effects of registration are often contrary to those expected. Giving a leading role financial tax system generally increased tax burden, accompanied by a low collection rate, repeated changes in tax laws and poor economic conditions concrete. In this context, the creation, allocation and optimal redistribution of budget resources are useful elements in the sustainable recovery of economic growth. I believe that fiscal policy is a permanent policy contestable numerous debates about the effectiveness of using a tax system for purposes other than financial concern namely monetary resources needed to cover expenditure for social or collective needs. Fiscal integrity in the decision process of traders produce permanent changes in their original condition, a change in behavior due to their concern objectively to find those ways of organizing and selling activities to generate the lowest tax burden. I appreciate that fiscal policy remains a tool of macroeconomic adjustment to national authorities. This means that the responsibility of maintaining budgetary balance and the responsibility of maintaining balance in the real economy will always return to the National Government.
Bruna Araújo Guimarães
Full Text Available The present work is about an analysis of the principle of the sustainable economic development under the optics of the agrarian economic activity, tends in view to growing environmental crisis after the Green Revolution and the emergence of agroindustrial complexes. It is studied the juridical conflict between the sectors, aiming the balance for the full guarantee to the environment, to the economic development and the function of the property foreseen in the Constitution. It is looked for to introduce a study to reach agrarian sustainable development. The methodology used understood the bibliographical revision of the literature related to the theme.
The achievement of economic growth is crucial for countries sustainable development. Recently, Value Added Tax (VAT) becomes a major worldwide tax instrument which enhances economic growth. Being a tax levied on the final consumption of goods and services, VAT is collected at each stage of production and ...
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.
Nørgaard, Jørgen; Xue, Jin
that the rebound effect is both a natural consequence of the growth dedicated society and a driver of further economic growth. Through rebound effects, labour productivity and eco-efficiency technologies in the growth society tend to contradict the goal of achieving environmental sustainability. To address...
Full Text Available Based on China’s inter-provincial panel data from 1999–2009, this paper has tested the impact and extent of marketization, government governance, and legal environment of sustainable economic development by controlling physical capital, human capital and productivity, so as to find the institutional reality for the difference in China’s economic development and another explanation for it. It turns out that marketization, government governance, and legal environment play significant roles in promoting sustainable economic development. Further tests show that the results of Eastern China are consistent with China’s inter-provincial results; while in Western China, the promotion effect of marketization, government governance, and legal environment on sustainable economic development is not significant.
Traditional ideas of science as being separate and separable from ideology and politics have to be reconsidered. Each interpretation of sustainable development is not only scientific but at the same time ideological. For this reason our ideas about good science should also be related to normal imperatives of democracy. Mainstream neoclassical economics is specific in scientific and ideological terms. This paradigm is useful for some purposes and has played a role as a mental map in guiding us towards economic growth and other ideas about progress in society and the economy. Sustainable development, however, represents an ideological turn in our ideas about progress and it is no longer clear that neoclassical theory will be enough. Alternative perspectives in economics are being developed as part of a pluralistic strategy and the monopoly position of neoclassical economists at university departments of economics is thereby challenged. A 'political economic person' is suggested as alternative (complement) to Economic Man assumptions and a 'political economic organization' to be compared with the neoclassical profit maximizing firm. Alternative ways of understanding markets and international trade, efficiency, decision-making, monitoring and assessment are also needed. It is argued that such an alternative mental map is useful for actors who take the challenge of sustainable development seriously.
Prato, Tony; Fagre, Dan
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.
Ager, Philipp; Brückner, Markus
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...... effects of cultural diversity. Our main finding is that increases in cultural fractionalization significantly increased output, while increases in cultural polarization significantly decreased output. We address the issue of identifying the causal effects of cultural diversity by using the supply......-push component of immigrant inflows as an instrumental variable....
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.
This paper reviews the literature and empirical evidence on deindustrialisation, with a focus on premature deindustrialisation. Structural change and industrialisation have long been considered important for developing countries to 'catch up'. However, there has been widespread deindustrialisation
This paper analysed the twin-problems of unemployment and poverty. The methodology adopted in the analyses was a combination of the historical and logico-mathematical research perspectives. The results showed that the technologically advanced nations (TANs) experienced mass unemployment, low productivity, high ...
Sep 2, 2016 ... Since the 1970s, IDRC has provided support to a large body of researchers working in various areas of expertise in the region. Currently, IDRC provides fellowships to students in Cambodia, Laos, and Vietnam to strengthen the future generation of leaders in agriculture. IDRC also fosters collaboration ...
Full Text Available This article presents a methodology for the selection of priorities for science and technology (S&T cooperation among the BRICS countries of Brazil, Russia, India, China and South Africa based on an analysis of international and national strategic documents of BRICS countries and a bibliometric analysis of joint publications by researchers from BRICS countries indexed in the Scopus database. The national S&T priorities for countries are systemized and a comparative assessment of capacities for S&T development in BRICS countries is developed. Indicators of publication activity of all BRICS countries have significantly increased since 2000. Analysis shows that Russia must pay particular attention to the development of cooperation with China, which is already one of the leaders on the global S&T stage. Cooperation with India, Brazil and, in some research areas, with South Africa could also have a positive impact on the performance of research and development in Russia. A list of 14 thematic priorities for S&T cooperation for BRICS countries is presented in the paper based on the analysis of a set of national, bilateral and multilateral strategic and forward-looking documents. Priorities of S&T development create a basis for more efficient and mutually beneficial cooperation between BRICS countries and allows individual scientists to broaden the range of research, use new tools for S&T cooperation and share best practices.
David Corderí Novoa
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.
Cristina BOROVINA (COJOCARU
Full Text Available In the context of the economic crisis that started in the United States in 2007, economic growth has become of great importance for the countries affected by the crisis further to their confrontation with lower growth rates of GDP per capita. At national level, governments are searching for that mix of optimal economic policies that would revive economies on the upward and also sustainable trend. One of the key policies in this regard, especially for the countries in Central and Eastern Europe which intend to adopt the euro currency, is the tax policy. Its main instruments are taxes. In this paper, we pay special attention to these instruments and to the connection that they have with the economic growth. This paper is divided into three parts. The first part presents a few ideas related to the importance of taxes at national level, the second part is an analysis in terms of taxation of the Central and Eastern Europe countries, while the third part consists of a panel-type assessment of the relation between economic growth and taxation level.
Wu, Shanshan; Heberling, Matthew T
This paper presents the data sources and methodology used to estimate Green Net National Product (GNNP), an economic metric of sustainability, for Puerto Rico. Using the change in GNNP as a one-sided test of weak sustainability (i.e., positive growth in GNNP is not enough to show the economy is sustainable), we measure the movement away from sustainability by examining the change in GNNP from 1993 to 2009. In order to calculate GNNP, we require both economic and natural capital data, but limited data for Puerto Rico require a number of simplifying assumptions. Based on the environmental challenges faced by Puerto Rico, we include damages from air emissions and solid waste, the storm protection value of mangroves and the value of extracting crushed stone as components in the depreciation of natural capital. Our estimate of GNNP also includes the value of time, which captures the effects of technological progress. The results show that GNNP had an increasing trend over the 17 years studied with two periods of negative growth (2004-2006 and 2007-2008). Our additional analysis suggests that the negative growth in 2004-2006 was possibly due to a temporary economic downturn. However, the negative growth in 2007-2008 was likely from the decline in the value of time, suggesting the island of Puerto Rico was moving away from sustainability during this time.
Richard B. Howarth
Full Text Available We discuss the recent emergence of ‘deliberative ecological economics’, a field that highlights the potential of deliberation for improving environmental governance. We locate the emergence of this literature in the long concern in ecological economics over the policy implications of limited views of human action and its encounter with deliberative democracy scholarship and the model of communicative rationality as an alternative to utilitarianism. Considering criticisms over methods used and the focus of research in deliberative decision-making, we put forward a research agenda for deliberative ecological economics. Given the promising potential of deliberative processes for improving the effectiveness and legitimacy of environmental decision-making, work in this area could help advance both theory and practice in environmental governance.
Sergei A. Orekhov
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.
L.C.Risti; C. Nicolaescu; D.Tăgăduan
The budget deficit can not be analyzed autarchically, as it affects all the macroeconomic processes and, is itself influenced by all other macroeconomic indicators. Most analyses and studies on public finance and budget balance measure the impact that budgetary deficits accumulation has on economy. Therefore, the present paper aims at following and analyzing the mutual impact between budget deficit and another economic macro indicator, namely the economic growth.
Nikolaj I. Komkov
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
Quilici, Sibilia; Smith, Richard; Signorelli, Carlo
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.
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...... 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...... explain some but not all of the growth difference....
Mata, Teresa M; Mendes, Adélio M; Caetano, Nídia S; Martins, António A
This article evaluates the sustainability and economic potential of microalgae grown in brewery wastewater for biodiesel and biomass production. Three sustainability and two economic indicators were considered in the evaluation within a life cycle perspective. For the production system the most efficient process units were selected. Results show that harvesting and oil separation are the main process bottlenecks. Microalgae with higher lipid content and productivity are desirable for biodiesel production, although comparable to other biofuel's feedstock concerning sustainability. However, improvements are still needed to reach the performance level of fossil diesel. Profitability reaches a limit for larger cultivation areas, being higher when extracted biomass is sold together with microalgae oil, in which case the influence of lipid content and areal productivity is smaller. The values of oil and/or biomass prices calculated to ensure that the process is economically sound are still very high compared with other fuel options, especially biodiesel. Copyright © 2014 Elsevier Ltd. All rights reserved.
Full Text Available This paper analysis the macroeconomic components that influenced macroeconomic growth in a country, more concretely, the focus will be on the measurement of components that affected economic growth under nominal GDP, in Kosovo. We intend to found out which component of nominal GDP has the biggest and the lowest influence on economic growth. Thus, in order to measure it, GDP components must be analysed: consumption measurement, investments measurement, government expenditures measurement and export measurement. These parameters will be measured by analysing their importance in relation to one another, and the major influence on the growth of nominal GDP. The paper includes a graphic analysis of nominal GDP in relation to consumption, investments, governmental expenses and export.
Lazarus Z. Wanjuu
Background: Economic institutions are considered as the fundamental cause of economic growth. Economic institutions affect economic growth through allocation of resources like physical and human capital. Unfortunately, there is dearth of empirical studies showing the impact of economic institutions on growth of the Economic Community of West African States (ECOWAS. Aim: This study investigates the impact of economic institutions on economic growth of the ECOWAS. Setting and method: The study applied cause and effect relationship. The study used econometric research techniques of unit root and co-integration tests to establish the time series properties of the data; the vector error correction and co-integration regression models to estimate the population parameters. The research data comprised data obtained from the United Nations Conference on Trade and Development (UNCTAD, the Transparency International (TI and Heritage Foundation databases. The variables employed were the real gross domestic product (GDP per capita (RGDPPC, corruption perception index (CPI, property rights protection (PROPRGT, private investment per capita (INVESPC, government expenditure per capita (GOEXPPC and trade openness (TRAOPN. Results: The results of the data analysed showed that economic institutions represented by the property rights index engender RGDPPC growth in ECOWAS. The CPI could not stimulate RGDPPC growth in ECOWAS. The results also show that all the other variables stimulated growth except trade openness. Conclusion: The study concludes that good economic institutions, private investments, and government intervention by providing security, economic and social infrastructural facilities are conducive for economic growth in the ECOWAS region. The study recommended that more efforts be made at curbing corruption in the region
Gabriel, José Luis; Garrido, Alberto; Quemada, Miguel
Replacing fallow by cover crops in intensive fertilized systems has been demonstrated as an efficient tool for reducing nitrate leaching. However, despite the evident environmental services provided and the range of agronomic benefits documented in the literature, farmers' adoption of this new technology is still limited because they are either unwilling or unable, although adoption reluctance is frequently rooted in low economic profitability, low water se efficiency or poor knowledge. Economic analyses permit a comparison between the profit that farmers obtain from agricultural products and the cost of adopting specific agricultural techniques. The goal of this study was to evaluate the economic impact of replacing the usual winter fallow with cover crops (barley (Hordeum vulgare L., cv. Vanessa), vetch (Vicia villosa L., cv. Vereda) and rapeseed (Brassica napus L., cv. Licapo)) in irrigated maize systems and variable Mediterranean weather conditions using stochastic Monte-Carlo simulations of key farms' financial performance indicators. The three scenarios studied for each cover crop were: i) just leaving the cover crop residue in the ground, ii) leaving the cover crop residue but reduce following maize fertilization according to the N available from the previous cover crop and iii) selling the cover crop residue for animal feeding. All the scenarios were compared with respect to a typical maize-fallow rotation. With observed data from six different years and in various field trials, looking for different weather conditions, probability distribution functions of maize yield, cover crop biomass production and N fertilizer saving was fitted. Based in statistical sources maize grain price, different forage prices and the cost of fertilizer were fitted to probability distribution functions too. As result, introducing a cover crop involved extra costs with respect to fallow as the initial investment, because new seed, herbicide or extra field operations. Additional
This research project will generate evidence on how women's political participation influences the connection between economic growth and women's economic empowerment. Women, politics, growth Economic growth can have positive effects on women's economic empowerment, but the growth depends on supportive ...
Full Text Available The demographic dynamics analysed in the context of the relationship between economic development and social inclusion presents an image of the sustainable development of a community as well as the manner how the financial resources have been used. With an allocation of 74.3 million euro in the programming period 2007-2013, the Brasov Growth Pole has pursued the contribution to the achievement of sustainable development since 2005 by the participation in the Agenda 21. The implementation of projects with European financing in areas such as transport, social and educational infrastructure or tourism have generated changes/demographic movements, which this paper proposes to present. The evolution of the stable population, its dynamics at the level of each locality that is part of the Brasov growth pole as well as the dynamics of the number of employees or the development of the unemployment rate are presented by the cluster analysis. The effects of the European financing obtained from Regional Operational Programme 2007-2013 are thus reflected in the sustainable development of the Brasov growth pole from the point of view of the dynamics of the population
Wang Ying, Yin Linsen, Pan Wenjie
... (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...
R. N. Botavina
Full Text Available The article tells the story of the emergence of "green" economy, as opposed to the traditional "brown" ekonomike, given its concept shown shortcomings of the existing definitions of "green" economy, conclusions about the real possibilities of the transition to the growth of "green" economy. The relevance of this work lies in the fact that the changing paradigm of understanding the basis and essence of sustainable development of the national socio-economic systems necessitates the integration of economic and environmental solutions, this integration is seen as part of the concept of "green economy".The approach of this article is based on an interdisciplinary concept of quality management in relation to the specifics of functioning and development of the domestic socio-economic systems.The purpose / goal. The purpose of this article, and its main task is to systematize the areas of environmentally oriented development of economic entities, as well as the determination of the list of key provisions of environmental policy, which will provide further socio-economic development of Russia in line with the green economy. As a result, Russia as one of the great powers of the world will find a stable geopolitical situation.Methodology. The methodological basis of this article are comparative, economic and statistical analysis methods.Results. This article suggests some solutions to be included in the national environmental policy as a major incentive for the further transition to a green economy.Conclusions: The material contained in this article show the special role of the concept of "green economy" in the social and economic processes in the development of Russia's geo-economic stability. The above article aspects of the further development of the green economy in Russia can complement scientific and practical base solutions that provide active creation, implementation and use of green technologies to provide environmentally responsible sustainable
Tisdell, Clement A.
Ecological, evolutionary and economic issues involved in introducing genetically modified organisms (GMOs), mainly in agriculture, are discussed. The ecological and evolutionary impacts identified hamper (economic) valuation of GMOs and their biosafety regulation and creates difficulties for planning for sustainable development. Assessment of the desirability of releasing GMOs is difficult because of lack of communal agreement about the risks involved, about how much precaution should be exer...
Markets and competition are the two necessary conditions for economic growth to take place. However, market and competition work only thank to the arbitraging and risk bearing actions of the entrepreneurs. In fact, the entrepreneur serves as the lubricant of economic activity that transforms unexploited profit opportunities into commercializable product and services. Through a detailed analysis of the evidence provided by recent research, this article argues that there cannot be sustained economic growth without entrepreneur ship. (Author) 49 refs.
In the struggle against poverty, Sénégal has adopted strategies such as that of accelerated growth, which integrate new information and communication technologies (ICTs) as a lever for economic and social development. However, most of the efforts touting the role of ICTs in poverty reduction emphasize their ...
Beugelsdijk, S.; van Schaik, A.B.T.M.
We study a cross-section of 54 European regions in the period 1950-1998.The central question is whether social capital, in the form of generalized trust and associational activity, is related to regional differences in economic growth. Based on extensive robustness tests, we present evidence that
The ability to adjust to structural change is vital to economic development, and entries can be active participants in this process. While the importance of factor reallocations for growth is widely discussed, the role of entrepreneurs in managing these reallocations is currently not well
de Groot, H.L.F.
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.
Tsai, Chun-Li; Hung, Ming-Cheng; Harriott, Kevin
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…
economy. Benoit (1973, 1978) argued that with increase in military expenditure, economic growth can be promoted by increasing human capital capabilities of the workforce through provisions of education ... spending is financed by taxation, taxation will not only reduce the amount of resources available to the private sector ...
Bijlsma, M.; van Ewijk, C.; Haaijen, F
Growing pension savings lead to deeper capital markets. This can have a positive effect on economic growth by allowing firms that are more dependent on external financing to grow faster. We study this effect using data on 69 industrial sectors in 34 OECD countries for the period 2001-2010 through a
Growth and Economic Opportunities for Women. Language English. How can we improve women's livelihoods, enabling them to pursue better paid and more productive jobs, accumulate assets, and contribute to ... In Mexico, for example, 80% of the 20 million youth who are unemployed and not in school are women.
Bolino, August C.
The author traces the development of career education in the United States since 1900, to counter earlier studies which included only formal education, in assessing human capital input. The book deals mainly with the contribution of nonformal education to economic growth as related to eight types of schooling: apprenticeships, adult education,…
Full Text Available In this paper, the regional Index of Sustainable Economic Welfare (ISEW is compiled for Flanders for the period 1990–2009. The ISEW is a measure of economic welfare in that it measures the contribution of a country’s or region’s economy to the overall level of well-being of its citizens. It does so by comparing the benefits and the costs of economic activities rather than simply looking at the market value of all final goods and services produced in an economy (Gross Domestic Product-GDP. The ISEW for Flanders shows that the per capita level of sustainable economic welfare in the region decreased between 1990 and 2009. The drop in the ISEW/capita is caused by a deterioration of the net international investment position of Belgium (which is divided over the different regions in the country on a per capita basis and by an increase in the income inequalities in Flanders. To a lesser extent, the increase of the environmental costs (climate change and the use of non-renewable energy resources also contributed to the decrease in the ISEW per capita. In the last four years of the study period, the level of sustainable economic welfare in the Flemish region started to rise again, even in 2008 and 2009 during the economic recession.
M. Ya. Veselovsky
Full Text Available In article the perspective of a sustainable development of the industrial enterprises is investigated, the factors infl uencing stability of development of the enterprises are analyzed, defi nition of different types of economic stability in the period of economic instability is given, internal and external factors of stability of the enterprises are allocated, is underlined that economic stability, first of all, is distinguished from the major factors infl uencing stability of development of the industrial enterprises. At the same time, authors consider factors of the available instability and their infl uence on rates of development of the industrial enterprises. Change of the current situation requires weakening of a number of the factors resulting in economic instability.Purposes. The purpose of article is the analysis of factors of the industrial enterprises infl uencing a sustainable development in the conditions of economic instability and development of the off ers providing on their sustainable development. Article tasks: to investigate and allocate factors, in the conditions of the worsening economic situation which are expedient for considering at a solution of the problem of a sustainable development of the industrial enterprises.Methodology. When carrying out the real research materials of the state statistics were the main sources of basic data. Comparative methods of the analysis are the basis for methodical development.Results. The concept is given and types of economic stability of the industrial enterprises are given. Infl uence of internal and external factors of the enterprises infl uencing stability is shown. Infl uence of an economic situation on a role of these factors is allocated. For achievement of a sustainable development of the industrial enterprises it is off ered to realize measures for weakening of the factors resulting in economic instability.Conclusions / importance. In the conditions of new economic
Borgonovi, Elio; Compagni, Amelia
The sustainability of health care systems, particularly those supporting universal health care, is a matter of current discussion among policymakers and scholars. In this article, we summarize the controversies around the economic sustainability of health care. We attempt to extend the debate by including a more comprehensive conceptualization of sustainability in relation to health care systems and by examining the dimensions of social and political sustainability. In conclusion, we argue that policymakers when taking decisions around universal health care should carefully consider issues of social, political, and economic sustainability, their interaction, and often their inherent trade-offs. Copyright © 2013 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.
Creaco, Salvo; Querini, Giulio
Tourism is now one of the world's largest industries and one of its fastest growing economic sectors. For many countries tourism is seen as a main instrument for regional development, as it stimulates new economic activities. Tourism may have a positive economic impact on the balance of payments, on employment, on gross income and production, but it may also have negative effects, particularly on the environment. Unplanned and uncontrolled tourism growth can result in such a deterioration of ...
R. M. Torielli
Full Text Available Lean manufacturing is often seen as a set of tools that reduce the total cost and improve the quality of manufactured products. The lean management philosophy is one which targets waste reduction in every facet of the manufacturing business; however, only recently have studies linked lean management philosophies with improving environmental sustainability. These studies suggest that lean manufacturing is more than a set of lean tools that can optimize manufacturing efficiencies; it is a process and mindset that needs to be integrated into daily manufacturing systems to achieve sustainability. The foundry industry, as well as manufacturing in general, has significant challenges in the current regulatory and political climate with developing an economically and environmentally sustainable business model. Lean manufacturing has proven itself as a model for both economic sustainability and environmental stewardship. Several recent studies have shown that both lean and green techniques and “zero-waste” policies also lead to reductions in overall cost. While these strategies have been examined for general manufacturing, they have not been investigated in detail for the foundry industry. This paper will review the current literature and describe how lean and green can provide a relevant framework for environmentally and economically sustainable foundries. Examples of lean and green technologies and techniques which can be applied to foundries in a global context will be described.
Palmieri, A; Shah, F; Dinar, A
Accepted practice has been to design and operate reservoirs to fill with sediment, generating benefits from remaining storage over a finite period of time. The consequences of sedimentation and project abandonment are left to the future. This 'future' has already arrived for many existing reservoirs and most others will eventually experience a similar fate, thereby imposing substantial costs on society. Such costs could be avoided if sedimentation was minimized and dams were allowed to live forever. The fact that the world's inventory of suitable reservoir sites is limited provides an additional reason for encouraging the sustainable management of dams. This paper provides a framework for assessing the economic feasibility of sediment management strategies that would allow the life of dams to be prolonged indefinitely. Even if reduced accumulation or removal of sediment is technically possible, its economic viability is likely to depend on physical, hydrological and financial parameters. The model presented incorporates such factors and allows a characterization of conditions under which sustainable management would be desirable. The empirical implementation of the model draws upon the substantial amount of technical information available. We analyze the sustainability of reservoirs, with a focus on the trade-off between such sustainability and the short to medium term benefits which a reservoir is expected to produce. The results show that, for a very wide range of realistic parameter values, sustainable management of reservoirs is economically more desirable than the prevailing practice of forcing a finite reservoir life through excessive sediment accumulation.
Production of sheabutter has the economic potentials in sustaining income generation for rural dwellers. The potentials of shea nuts productivity could only be achieved when technical efficiency of the processing becomes relevant. The study examines the patterns, efficiency and productivity of processing harvested shea ...
This paper studies sustainable management of natural resources for socio economic development in Imo state. This it does with the aim to determine the extent to which the exploration and exploitation of natural resources has affected the ecological and environmental conditions of the area. The research also tends to ...
Green, Tom L.
Purpose: The purpose of this article is to explore sustainability commitments' potential implications for the curriculum of introductory economics courses. Universities have signed the Talloires Declaration, committing themselves to promoting students' environmental literacy and ecological citizenship, thereby creating pressure to integrate…
Full Text Available Sustainability is the most effective concept to improve socio-economic condition, including environment. Constructive socio-economic changes are getting priority in recent years among academia and business sector in Bangladesh. Bangladesh poultry sub-sector has long supply chains having associated with various stakeholders. In this paper, a case poultry farm was taken to examine a production process that links with socio-economic benefits. Design science method under the quantitative paradigm was chosen to develop a model for the case industry. A Simulation model was developed using simul8 software to construct the real poultry operation. The objectives of this paper are to construct a sustainable model for a case poultry industry along with socio-economic issues. Later, simulated model output will examine it through various performance indicators (KPIs to find out the impacts on socio-economic benefits. Numbers of KPIs have been briefly discussed in light of the research problem to illustrate positive effects of sustainable production.
Pre-requisite for all sustainability actions in business is accurate measurement of economic, environmental and social performance. Sustainability indicators, or indicator sets, are then the tools, which simplify the complex sustainability information applicable for management processes, decision-making and communication. Measuring business sustainability is not an easy task, especially while simultaneously considering macro-level sustainability. Indicators should somehow capture the corporat...
Morel, C M; Edwards, S E; Harbarth, S
As the growth of antibiotic resistance has resulted in large part from widespread use of antibiotics, every effort must be made to ensure their sustainable use. This narrative review aims to assess the potential contribution of health economic analyses to sustainable use efforts. The work draws on existing literature and experience with health economic tools. The study examines some of the weaknesses in the health, regulatory, and industry arenas that could contribute to inappropriate or suboptimal prescribing of antibiotics and describes how economic analysis could be used to improve current practice by comparing both costs and health outcomes to maximize societal wellbeing over the longer-term. It finds that economic considerations underpinning current antibiotic prescribing strategies are incomplete and short-termist, with the result that they may foster suboptimal use. It also stresses that perverse incentives that drive antibiotic sales and inappropriate prescribing practices must be dis-entangled for sustainable use policies to gain traction. Finally, payment structures can be used to re-align incentives and promote optimal prescribing and sustainable use more generally. In particular, eliminating or altering reimbursement differentials could help steer clinical practice more deliberately towards the minimization of selection pressure and the resulting levels of antibiotic resistance. This work highlights the need for appropriately designed cost-effectiveness analyses, incentives analysis, and novel remuneration systems to underpin sustainable use policies both within and beyond the health sector. Copyright © 2017 The Authors. Published by Elsevier Ltd.. All rights reserved.
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...... of literature by estimating the effects of trust on growth through a set of potential transmission mechanisms directly. It does so by modelling the process using a three-stage least squares estimator on a sample of countries for which a full data set is available. The results indicate that trust affects...
Anca Florentina Gavriluţă (Vatamanu
Full Text Available Governmental decisions play an important role in the critical periods of the economy and usually in base of the strategy adopted, can make an effective contribution to the budget process while 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. In base of logistic regression results, the study leads to the conclusion that may be wise to re-evaluate plans to cut net government revenue in future budgets and instead take a more strategic approach to nurturing growth in the EU economy.
Full Text Available Research focusing on specific key aspects of economic inequality, as well as economic equality, by analyzing numerous theoretical, methodological and empirical views concerning the mentioned socio-economic phenomena aims to identify the following related and relevant aspects that affect the efficiency of the functioning of a modern economy: a economic inequality that has a stimulating effect on the creative, productive and innovative use of all production factors positively affects the functioning of the economy and is socially justifiable; b high level of economic inequality which shows a tendency to further increase has a negative effect on the economic system indicators, as well as the stability of the society and the political environment, therefore resulting in weaker economic performance and lower economic growth rate; c economic equality (certainly, not egalitarianism by contributing to greater social and political stability, which in turn reflects positively on the economic stability and efficiency, is the basis for greater success of the modern economy and dynamic economic growth rates. The main result of this study is assessing the basic factors of high and rising economic inequality and its implications for the functioning of modern economies, and accordingly, pointing to the need to implement economic policies that would lower economic inequality and mitigate its adverse consequences for the economy and the society.
In South Africa the export sector is frequently accorded a special role in encouraging faster economic growth. Nonetheless, a question that remains unresolved is whether higher export growth indeed leads to higher economic growth and what particular role exports may play within the overall economic growth process of the ...
The focus of the work is to highlight the present environmental and social impacts of extensive mining on the health of the common people of Odisha. The mining activities have created havoc impact to the environment and social life of the state. Odisha has huge deposits of ores and minerals of chromite, nickel, bauxite, iron, coal, copper, manganese, graphite, vanadium etc. The mining activities have encouraged rapid urbanization and at the same time have altered the topography of these areas and extensively degraded the forest land. For long term sustainable development of the society, it is necessary to take a balanced and integrated approach towards environmental protection and economic advancement. Industries should aim at achieving their goals, through a system of permits based on best available techniques, which gives emphasis on integrated prevention and control of consumption of energy and water as well as pollution of water, air and soil. The rapid industrial growth has brought promising opportunities for economic development and poverty reduction in Odisha but at the same time has caused extensive environmental degradation. The best management practices to deal with environmental and social impacts on mineral-intensive growth are suggested in this work. In addition to lean technology, economic implications of the introduction of environmental technologies for mining activities are also discussed.
Donati, Michele; Menozzi, Davide; Zighetti, Camilla; Rosi, Alice; Zinetti, Anna; Scazzina, Francesca
Foods consumed and dietary patterns are strong determinants of health status. Diet and nutrition have a key role in health promotion and maintenance during the entire lifetime, but what we choose to eat and drink greatly affects the environmental impact on ecosystems as well as monetary resources. Some studies suggest that a healthy diet with a low environmental impact is not necessarily more expensive. This paper aims to identify a healthy, greener and cheaper diet based on current consumption patterns. Dietary information was collected from 104 young adults in the last year of high school in Parma (Italy). Diet was monitored with 7-day dietary records. Subsequently, food items were decoded to obtain nutritional, economic and environmental impact data. An optimization tool based on mathematical programming (Multi-Objective Linear Programming) was used to identify sustainable diet. Three different 7-day diets were identified, based on nutrition recommendations for the healthy Italian adult population, characterized by different targets and optimizing different impacts: first the diet at the lowest cost (Minimum Cost Diet - MCD), then the Environmentally Sustainable Diet (ESD) obtained by minimizing the three environmental indicators (CO2e emissions, H2O consumption and amount of land to regenerate the resources - m(2)). Finally, the Sustainable Diet (SD) was identified by integrating environmental and economic sustainability objectives. Lastly, suggestions and recommendations for communication campaigns and other interventions to achieve sustainable diet are suggested. Copyright © 2016 Elsevier Ltd. All rights reserved.
Söderbaum, Peter; Brown, Judy
Climate scientists point to a number of unsustainable trends concerning the environment and natural resources. There is also ongoing concern about poverty reduction, labor rights, and other social aspects of sustainable development. Growing numbers argue that change is required, but still at issue is the extent of change and how to facilitate it. In this paper, the focus is on the dominant interpretive schema of influential actors with respect to ideas about science in society, paradigms in economics, and ideological orientations. The authors argue that the monopolistic position of neoclassical economics at university departments of economics in different parts of the world, and the spread of its associated technocratic logic within broader policy arenas, should be abandoned in favor of a more ideologically open attitude that facilitates discussion and debate within academia, public policy, and in civil society more generally. In a sense, economics requires "democratization" with implications for approaches to sustainability monitoring, accounting, and the assessment of projects and policies. The paper provides suggestions for developing sustainability assessment technologies and practices that take pluralism seriously.
Taleizadeh, Ata Allah; Soleymanfar, Vahid Reza; Govindan, Kannan
(EPQ). The theoretical sustainable EOQ and EPQ models are basic models that ignore many real-life conditions such as the possibility of stock-out in inventory systems. In this paper, we develop four new sustainable economic production quantity models that consider different shortage situations. To find...... optimal values of inventory system variables, we solve four independent profit maximization problems for four different situations. These proposed models include a basic model in which shortages are not allowed, and when shortages are allowed, the lost sale, full backordering and partial backordering...
Timmis, Kenneth; de Lorenzo, Victor; Verstraete, Willy; Ramos, Juan Luis; Danchin, Antoine; Brüssow, Harald; Singh, Brajesh K; Timmis, James Kenneth
Our communication discusses the profound impact of bio-based economies - in particular microbial biotechnologies - on SDG 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. A bio-based economy provides significant potential for improving labour supply, education and investment, and thereby for substantially increasing the demographic dividend. This, in turn, improves the sustainable development of economies. © 2017 The Authors. Microbial Biotechnology published by John Wiley & Sons Ltd and Society for Applied Microbiology.
Mangasa Augustinus Sipahutar
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
Full Text Available Base economic characteristics (total revenues, total costs, profit and profitability ratio of the Slovak Pinzgau breed were calculated in this study. Under the actual production and economic conditions of the breed, production system is operated with loss (-457 € per cow and per year and with negative profitability ratio (-20%. Optimisation of the production parameters on the level defined in the breed standard (5,200 kg milk per cow and year, 92% for conception rate of cows, 404 days of calving interval and 550 g in daily gain of reared heifers and improved udder health traits (clinical mastitis incidence and somatic cells score was of positive impact on the total revenues (+34%, on the effective utilisation of costs (+105% and balanced profit of dairy systems. Next to the positive profitability of the system, higher quality and security of dairy milk products should be mentioned there. Moreover, direct subsidies as an important factor of positive economic result of dairy cattle systems has to be pointed as well. Subsidies should be provided to compensate the real biological limitation of the local breed farmed in marginal areas. However, improvement of the production parameters of the Slovak Pinzgau breed is recommended with the same attention to reach the economic sustainability of dairy production system. To reach economic sustainability of the breed from practical point of view, the farmer activity should be aimed especially to the enhanced herd management.
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.
To sustain growth requires changes in the Chinese economy and society. The Asian financial crisis shows that independent institutions and individual freedoms are necessary to stimulate entrepreneurship and innovation. Conservative social values often promoted by the education and training system could hinder economic growth. (SK)
Drews, S.; van den Bergh, J.C.J.M.
The long-standing academic and public debate on economic growth, prosperity and environmental sustainability has recently gained new momentum. It lacks, however, a broad perspective on public opinion. Prior opinion surveys typically offered a simple dichotomous choice between growth and
Auestad, Nancy; Fulgoni, Victor L
The concept of sustainable diets, although not new, is gaining increased attention across the globe, especially in relation to projected population growth and growing concerns about climate change. As defined by the FAO (Proceedings of the International Scientific Symposium, Biodiversity and Sustainable Diets 2010; FAO 2012), "Sustainable diets are those diets with low environmental impacts which contribute to food and nutrition security and to healthy life for present and future generations." Consistent and credible science that brings together agriculture, food systems, nutrition, public health, environment, economics, culture, and trade is needed to identify synergies and trade-offs and to inform guidance on vital elements of healthy, sustainable diets. The aim of this article is to review the emerging research on environmental and related economic impacts of dietary patterns, including habitual eating patterns, nutritionally balanced diets, and a variety of different dietary scenarios. Approaches to research designs, methodologies, and data sources are compared and contrasted to identify research gaps and future research needs. To date, it is difficult to assimilate all of the disparate approaches, and more concerted efforts for multidisciplinary studies are needed. © 2015 American Society for Nutrition.
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.
Full Text Available Sustainable energy development is complex challenge, so only complex decisions and approaches could be possible to implement in the most efficient way. There is still open question – what is the optimal volume of new energy resources using to support sustainable development and environment safety for any state of the world. Article deals with the availability of convergence to serve for the more effective usage of analytic and system approaches for modeling ecological-economic spillovers in the case of transition to sustainable energy. The economic effects of sustainable energy transition are considered. The analysis of dynamic of energy consumption in the scale of different type of resources during 1820-2030 years depicted the situation of complicated analysis of “economy-energy-environment” linkage. It arises the agenda of necessity to implement complex approaches for modeling and forecasting of new energy systems development. Different types of models and techniques to analyze economy-energy systems are listed and compared.
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
Full Text Available Focusing critically on the effects of the conditions for foreign direct investment on sustainable growth in the recipient country, this paper analyzes the potential for investments in environmental innovations in India. The definition of sustainability applied in this paper incorporates economic development and investment which promotes environmentally and socially friendly production and innovation. As the Indian economy experienced strong growth in GDP in recent years, but is still lagging behind in providing the basic needs of clean water, clean air and proper waste management for households and companies, the necessity for sustainable development exists. From a methodological point of view this paper uses macroeconomic data to evaluate quantitatively the potentials and needs of Indian states. This results in a state ranking showing the potential for sustainable development in selected Indian states, based on economic and environmental indicators.
using their spending to accelerate economic growth. Key words: Government expenditure, efficiency, economic growth, Sub Saharan Africa. 5. Corresponding Author, Department of Economics, Faculty of Business and Finance, UTAR, Malaysia. Email: firstname.lastname@example.org. 6 Professor of Economics, Department of ...
SMĂRĂNDOIU (SANDA LUANA ALEXANDRA
Full Text Available Today’s economic reality contains a certain degree of uncertainty that often prevail economic rationality, affecting economic growth. Recent European and political agendas put a robust emphasis on the importance of social dimension of growth and try to shift the focus from economic evidence to social outcomes. The debt is currently a sensitive issue for most European countries and ordinary individuals, thus creating significant imbalances regarding perceived economic wealth and wellbeing at national and individual level. But debt is also associated with fast money and short term prosperity that can engine business and support living, thus economic growth. The paper makes a repositioning evaluation of the social domain into European political agendas, towards a smart, sustainable and inclusive growth for the Europeans. It encompasses an evaluation of the relevance of European growth on its economic development and sustainability. Rebalancing finance and economic priorities with a strong commitment to social priorities is the main reorientation target of the political agenda. There’s a growing need for shifting the focus to qualitative facets of growth and European testimonials, for an ascending journey to smart, sustainable and inclusive growth, representing a continuing approach of EU’s root ideals. Thus, the paper proposes an analysis of GDP evolution in relation to debt to GDP ratio indicator and social factors, as an alternative impact evaluation played by the social system and debt for a country’s performance, representing an alternative way for assessing economic growth in relation to wellbeing. The results show a significant dependence of growth to debt to GDP ratio and social indicators such as population at risk to poverty rate, unemployment rate, life expectancy and expected years of schooling
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......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...... the financial sector actually creates value for the wider society. This research, which is part of a broad research project “Nordic Finance and the Good Society”, aims to contribute to this debate by studying the role of the financial sector structure for economic development of an economy. Therefore...
Since the relation between energy consumption and economic growth is important to design effective energy policies that will promote economic growth, this study investigates the short run dynamics and causality among energy consumption, co2 emissions, oil prices and economic growth in Kingdom of Bahrain. To do so, annual data that covers the period from 1960 till 2015. Empirical work tests for unit root, co-integration relationship using Johansen (1988) approach and then estimate both long and short run dynamics using the vector error correction model (VECM). Results indicate that there is a long-run relationship between the suggested variables. Since economic growth has a predictive power to estimate the energy demand of Kingdom of Bahrain, it is recommended that the government of Bahrain and policy designers shed the light on energy efficiency strategies and carbon emissions reduction policy in the long run without impeding economic growth in order to move towards sustainability.
Jong-A-Pin, Richard; De Haan, Jakob
We examine whether the type of political regime, regime changes, and economic liberalization are related to economic growth accelerations. Our results show that growth accelerations are preceded by economic liberalizations. We also find that growth accelerations are less likely to happen the longer
Kruse-Andersen, Peter Kjær
unambiguously directs research efforts toward pollution abatement technologies and away from production technologies. This directed technical change reduces economic growth and pollution emission growth. Simulation results indicate that even large environmental policy reforms have small economic growth effects....... However, these economic growth effects have relatively large welfare effects which suggest that static models and exogenous growth models leave out an important welfare effect of environmental policy.......A Schumpeterian growth model is developed to investigate how environmental policy affects economic growth when environmental policy also affects the direction of technical change. In contrast to previous models, production and pollution abatement technologies are embodied in separate intermediate...
Mastrangelo, Christina M.
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.
Sasmal, J.; Weikard, H.P.
Sustainable agricultural growth in developing countries is jeopardized by soil degradation consequent upon intensive cultivation and use of increasing doses of chemical inputs. To pave the way to sustainable agricultural growth we develop a model that incorporates organic fertilizer into the
The paper examines Corruption and Challenges of Sustainable Inclusive Growth in Nigeria. The paper adopts the theory of two publics as its framework of analysis. The theory explains the prevalence of corruption between and among public servants in Nigeria, which affects the attainment of sustainable inclusive growth.
Kholil; Diane Tangian
.... Therefore, the sustainability of economic and social benefits is threatened. To avoid damage to coral reefs and pollutions, it is necessary the institute manager which can ensure the sustainability of he sustainability of the tourism attraction...
Ana-Maria Popescu (Stîngaciu
Full Text Available Starting with general information about the EU multiannual financial framework and the European Union’s budget, the research paper attempts to respond to some questions of general interest regarding the activities financed through EU budget, the potential causes for a low absorption rate of funding in the current financing period and concludes with some measures needed to be taken to strengthen the absorption of funding for the next financing period, 2014-2020. Based on the main theme of the Europe 2020 strategy, smart, sustainable and inclusive growth, the article attempts to outline the important role of EU allocations for the period 2014-2020 for funding the growing number of policy in which EU can be more effective in the current context, after the economic and financial crisis. The paper presents the objectives of the Europe 2020 strategy and the targets for 2014-2020.
Manuel José Aragón Sandoval
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?
Full Text Available Severe environmental quality deterioration, along with predatory exploitation of energy resources, are generally associated with economic growth, especially in China. Against this background, the 6th Annual Conference of Energy Economics and Management provides a platform for examining outperforming governance factors and mechanisms of energy economics and policy. Thanks to Sustainability for providing this special issue. This editorial highlights the contents and methodologies of the special issue for this conference, presenting diverse issues in energy economics and management. We also suggest guidelines for future study in energy economics and management.
Kostuchenko, Vasiliy; Zdanov, Andrej; Rodionov, Anatolij
This article presents a long-term research in developing innovative mathematical techniques of managing the contractor’s economic sustainability proven by some experimental studies. The article aims at presenting some practical results of applying these techniques to the scientific community. This research presents a description of some applied mathematical models, views, and some results of their practical application in the applied field for the purposes of evaluating operational sustainability and minimizing losses in the process of managing the company. The authors have put the technology they have developed to practical use, and the article presents the results of such application. The authors have put the developed technology to practical use. Company management also means the management of power consumption, which is highly vital both for the construction and maintenance of buildings and structures. The articles also dwell on some possible improvements of managing energy consumption within the framework of the general management of company’s economic sustainability, because these phenomena have a tight organic interdependence. The authors continue researching this direction in order to improve the production efficiency of the proposed technologies as well as to eliminate some drawbacks they have spotted.
Full Text Available The quality of tourist resources and tourist products, competitive ability and positioning of the destinations in the tourist market affect the economic development of the national economy. Natural resources are key, but under-utilized resources necessary for the tourism development, whereby reaching the level where the key development resources are on the verge of carrying capacities, thus making the model structure of the future development to be a significant contribution in searching the optimal model of sustainable development. The paper points to the importance of previous positive experience in the development of tourism and related activities especially in terms of development planning in accordance with the available resources, spatial opportunities and sustainable development. The research the possibility of defining an optimal model for sustainable tourism development in the case of mountain destinations in Zlatibor District will indicate the need to precisely define economic-geographical resources which determine the individual role of an each resource in creating the tourist offer, as well as, to show that the inadequate management of tourist resources and marketing activities leads to their degradation.
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.
The biofuel industry is divided into four categories comprising of feedstocks used in 1st and 2nd generation bioethanol and biodiesel. In order to identify and quantify each biofuel feedstock's potential for sustainable growth, each were evaluated according to self-developed social, financial, and environmental criteria. From the investigation and analysis carried out, 1st generation biodiesel and bioethanol were determined to be feedstocks not capable of facilitating sustainable growth. Results showed low earnings before interest, taxes, depreciation and amortization (EBITDA) of -0.5 to 1 USD per gallon for biodiesel and 0.25 to 0.5 USD per gallon for bioethanol. Results also showed a poor return on asset (ROA). The energy required to produce one MJ of 1st generation biofuel fuel was at least 0.4 MJ, showing poor energy balance. Furthermore, high land, water, pesticide, and fertilizer requirements strained surrounding ecosystems by affecting the food web, thus reducing biodiversity. Over 55% of land used by the biodiesel industry in Indonesia and Malaysia involved the deforestation of local rainforests. This not only displaced indigenous organisms from their habitat and decreased their scope of nutrition, but also contributed to soil erosion and increased the probability of flooding. If left unregulated, imbalances in the ecosystem due to unsustainable growth will result in a permanent reshaping of tropical rainforest ecosystems in Southeast Asia. Algae, an example of 2nd generation biodiesel feedstock, was concluded to be the biofuel feedstock most capable of supporting sustainable growth. This is due to its low production costs of $1-1.5/gal, high biological productivity of 5000 gallons of biodiesel per acre per year, and high ROA of 25-35%. Additionally, algae's adaptability to varying environmental conditions also makes it an appealing candidate for businesses in developing countries, where access to resource supplies is unstable. Additionally, its reduced net
Full Text Available The emergence of the Internet as a measureable manifestation of our social and economic relationships changed the domination of networks in our lives. From about 2000, the internet has allowed us to study and understand the type of networks in which we live, and to model their behaviour. The Internet has fundamentally changed the distribution of wealth. The rich became richer simply because of the larger scale of the trading network and stretched national wealth distributions. Network effects are therefore likely to be responsible for much of the perceived increases in inequalities in the last 20-30 years, and policies to tackle poverty must therefore address the extent to which the poor can engage with society's networks of wealth creation. The greatest challenge to continued growth and prosperity, and therefore to peace and justice, is climate change. The potential cost of inaction on climate change could be as high. Our self-organising social networks have structured our societies and economies, and are now reflected in our technology networks. We can now replicate their evolution in computer simulations and can therefore better assess how to deal with the greatest challenges facing us in the next few decades.
Grames, Johanna; Fürnkranz-Prskawetz, Alexia; Grass, Dieter; Viglione, Alberto; Blöschl, Günter
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.
Moore, Frances C.; Diaz, Delavane B.
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.
Full Text Available The paper bases its analytical approach on two assumptions: the first refers to a significant change taking place in the contemporary world economy – the phenomenon of multipolarity – and proposes a new concept, that of multi-level manifestation of multipolarity; the second has in view the need of a new model of sustainable economic growth. In the context of these two points of view, the paper analyses the sharing economy as a potential significant contributor to sustainable economic growth. The conclusion of this research is that sharing economy has a huge potential of involving millions or even billions of participants and of capitalizing the existing assets while providing spill over effects in the economy. The authors expect sharing economy to become a form of economic activity that will complement traditional forms of business while generating positive economic, social and environmental effects.
Full Text Available Financial sector in the Republic of Croatia had a strong growth between 1995 2005.g. Liberalization of financial sector in 1999 led to an increase in bank foreign debt, which resulted in a strong increase in foreign currency reserves and appreciation of the national currency. The growth of the financial sector and credit expansion have been allocated in favour of private and public consumption, but not in industry investments. GDP growth didn't have the same momentum as financial aggregates. Economic growth, after a contraction in 1999 was within the average of global economic growth. Relying on neoclassical growth model, government and central bank didn't put in place the needed set of pro-active policies. Factor allocation was solely through private bank channels financing private consumption. If the sustainable economic growth and new employment are to be major macroeconomic goals, a new macroeconomic paradigm as combination of neclassical and neokeynesians approach will be needed.
Full Text Available This paper investigates the dynamic problem of living system in Kampung Laut, Cilacap, whichincludes social problems and ecological changes. The paper uses a dynamic system model to structurethe problems. The model simulates various feasible scenarios, from which the best becomesthe base to impose a policy to empower their sustainable economy. The model conceptualizes variablesrelated to the problem to build a figure of Causal Loop Diagram (CLD, which is then simulatedusing Powersim 2.5 software package. Using the scenario of intensification and populationcontrol, the paper finds that it can increase the people’s income, with positive trend until the end ofsimulation.Keywords: Dynamic modelling, sustainable economic empowerment, causal loop diagram
Full Text Available This paper has aimed to examine the causal relationships between energy consumption – economic growth, export – energy consumption and export – economic growth in Lithuania during the period of 1998 – 2015. Descriptive statistics analysis and econometric techniques have been applied for this purpose. Granger causality test has been used to a time series data set to determine the causality between variables. The results of Granger causality test have shown unidirectional causality running from GDP to energy consumption, from export to GDP and from export to energy consumption. It is obvious that GDP and export play significant roles in accelerating energy consumption in Lithuania. The determination of the causal links between energy consumption – economic growth, export – economic growth and energy consumption – export has provided policy makers with the main insights to formulate future policy directions for sustainable economic development in Lithuania.
Full Text Available Abstract Erratum to: Colombo F, García-Goñi M, Schwierz C. Addressing multimorbidity to improve healthcare and economic sustainability. J Comorbidity 2016;6(1:21−27. doi: 10.15256/joc.2016.6.74. The first sentence of the Acknowledgements section should read, 'The opinions expressed in this paper are the responsibility of the authors and do not necessarily reflect those of the OECD, the European Commission or its member countries.' Journal of Comorbidity 2016;6(1:33 The original article can be found at: http://dx.doi.org/10.15256/joc.2016.6.74
This study aims at investigating the nexus between natural resource endowment and economic growth using a sample of West African countries. The study adopted a Barrow-type growth model to analyse the impact of natural resource wealth on economic growth. A dynamic panel estimation technique was employed using relevant data from West African Countries. The results from the panel regressions indicate that natural resource endowments have very minimal impact in terms of promoting economic growth ...
GDP Gross Domestic Product GLF Great Leap Forward GNP Gross National Product HDI Human Development Index HEI Higher-level Education...23 E. OVERVIEW OF GDP AND CASES OF LIVING STANDARDS ............26 F. ANALYSIS OF ECONOMIC GROWTH FROM DOMESTIC...push migration in hopes of economic growth. This economic growth will be explained in terms of GDP growth trends, along with attention to human rights
Full Text Available According to new growth theories, public governance is an important determinant for sustained economic growth. This study examines the impact of six public governance indicators, including voice and accountability, political stability and the absence of violence/terrorism, government effectiveness, regulatory quality, rule of law and control of corruption, on the economic growth in the transitional economies of the European Union during the 2002-2013 period. The results show that all governance indicators except regulatory quality had a statistically significant positive impact on economic growth. Our findings also indicate that control of corruption and rule of law had the largest impact on economic growth, while political stability had the lowest impact.
Hardisty, Paul E; Sivapalan, Mayuran; Brooks, Peter
For carbon capture and storage (CCS) to be a truly effective option in our efforts to mitigate climate change, it must be sustainable. That means that CCS must deliver consistent environmental and social benefits which exceed its costs of capital, energy and operation; it must be protective of the environment and human health over the long term; and it must be suitable for deployment on a significant scale. CCS is one of the more expensive and technically challenging carbon emissions abatement options available, and CCS must first and foremost be considered in the context of the other things that can be done to reduce emissions, as a part of an overall optimally efficient, sustainable and economic mitigation plan. This elevates the analysis beyond a simple comparison of the cost per tonne of CO(2) abated--there are inherent tradeoffs with a range of other factors (such as water, NOx, SOx, biodiversity, energy, and human health and safety, among others) which must also be considered if we are to achieve truly sustainable mitigation. The full life-cycle cost of CCS must be considered in the context of the overall social, environmental and economic benefits which it creates, and the costs associated with environmental and social risks it presents. Such analysis reveals that all CCS is not created equal. There is a wide range of technological options available which can be used in a variety of industries and applications-indeed CCS is not applicable to every industry. Stationary fossil-fuel powered energy and large scale petroleum industry operations are two examples of industries which could benefit from CCS. Capturing and geo-sequestering CO(2) entrained in natural gas can be economic and sustainable at relatively low carbon prices, and in many jurisdictions makes financial sense for operators to deploy now, if suitable secure disposal reservoirs are available close by. Retrofitting existing coal-fired power plants, however, is more expensive and technically
Full Text Available For carbon capture and storage (CCS to be a truly effective option in our efforts to mitigate climate change, it must be sustainable. That means that CCS must deliver consistent environmental and social benefits which exceed its costs of capital, energy and operation; it must be protective of the environment and human health over the long term; and it must be suitable for deployment on a significant scale. CCS is one of the more expensive and technically challenging carbon emissions abatement options available, and CCS must first and foremost be considered in the context of the other things that can be done to reduce emissions, as a part of an overall optimally efficient, sustainable and economic mitigation plan. This elevates the analysis beyond a simple comparison of the cost per tonne of CO2 abated—there are inherent tradeoffs with a range of other factors (such as water, NOx, SOx, biodiversity, energy, and human health and safety, among others which must also be considered if we are to achieve truly sustainable mitigation. The full life-cycle cost of CCS must be considered in the context of the overall social, environmental and economic benefits which it creates, and the costs associated with environmental and social risks it presents. Such analysis reveals that all CCS is not created equal. There is a wide range of technological options available which can be used in a variety of industries and applications—indeed CCS is not applicable to every industry. Stationary fossil-fuel powered energy and large scale petroleum industry operations are two examples of industries which could benefit from CCS. Capturing and geo-sequestering CO2 entrained in natural gas can be economic and sustainable at relatively low carbon prices, and in many jurisdictions makes financial sense for operators to deploy now, if suitable secure disposal reservoirs are available close by. Retrofitting existing coal-fired power plants, however, is more expensive and
Nuno Carlos LEITÃO
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.
Full Text Available Sheep production systems in regions with a Mediterranean climate are important in social, economic and environmental terms. Modeling these systems allows, among others, evaluation of the costs efficiencies which in turn permits assessing the expected effects of changes in production variables. This paper presents a prototype analysis of the economic sustainability of ecological dairy sheep systems of Castilla-La Mancha, Central Spain evaluated through the estimation of costs efficiencies. Costs functions were developed using data from 31 farms. Rate of supplementary feeding, labour use, and flock size were used to measure the cost efficiency. On average, cost efficiency was 61.7±15.5%, with significant differences among typological groups. High efficiency was found in only 29% of the farms. The economic analyses performed suggest that the continued existence of economically unsustainably farms is explained by the available subsidies, lack of amortization of fixed assets leading to progressive decapitalization, and subsistence incomes by family groups (gross family income.
Prljić, Stefan; Nikitović, Zorana; Stojanović, Aleksandra Golubović; Cogoljević, Dušan; Pešić, Gordana; Alizamir, Meysam
Economic profit could be influenced by economic rents. However natural resource rents provided different impact on the economic growth or economic profit. The main focus of the study was to evaluate the economic growth as function of natural resource rents. For such a purpose machine learning approach, artificial neural network, was used. The used natural resource rents were coal rents, forest rents, mineral rents, natural gas rents and oil rents. Based on the results it is concluded that the machine learning approach could be used as the tool for the economic growth evaluation as function of natural resource rents. Moreover the more advanced approaches should be incorporated to improve more the forecasting accuracy.
Chowdhury, Tasnim; Datta, Rajib; Mohajan, Haradhan
Green finance is part of a broader occurrence; from the incorporation of various non-financial or ethical concerns onto the financial universe. Generally green finance is considered as the financial support for green growth which reduces greenhouse gas emissions and air pollutant emissions significantly. Green finance in agriculture, green buildings and other green projects should increase for the economic development of the country. In this paper an attempt has been made to describe green fi...
Hamilton, J. D.
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)
Svendsen, Gert Tinggaard
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...... transactions to take place without third-party enforcement. Theory and lessons from empirical evidence lead to three general recommendations for building social capital in the future: First, the state must withdraw and minimize its role in the economy so to leave room for voluntary organization and free......-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....
Sfichi Elena Daniela
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.
Vélez-Fernández Varela, F
In the Mexican economy four policies forced the State to redefine its strategy of development. They were: 1) the considerable purchase by the government of firms that were not strategic or of national priority; 2) the preservation of a structure of high industrial protection; 3) an excessive reliance of the economy on oil, and 4) the perception of the increase in the price of oil as a permanent and not a temporary phenomenon. By the seventies the first two phenomena restricted the possibilities of economic growth which translated into inflation. In the eighties the high dependency on oil and the weakness of its monetary value deepened those trends. The external debt became the single most significant constraint of development. The government was forced to reduce drastically substantive public expenditure. Health was one of the areas more severely affected.
Kavallari, A.; Fellmann, T.; Hubertus Gay, H.
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
Baldwin, J. Norman; McCracken, William A., III
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…
Maksimović, Goran; Jović, Srđan; Jovanović, Radomir
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.
Heiberger, Raphael H.
Networks derived from stock prices are often used to model developments on financial markets and are tightly intertwined with crises. Yet, the influence of changing market topologies on the broader economy (i.e. GDP) is unclear. In this paper, we propose a Bayesian approach that utilizes individual-level network measures of companies as lagged probabilistic features to predict national economic growth. We use a comprehensive data set consisting of Standard and Poor's 500 corporations from January 1988 until October 2016. The final model forecasts correctly all major recession and prosperity phases of the U.S. economy up to one year ahead. By employing different network measures on the level of corporations, we can also identify which companies' stocks possess a key role in a changing economic environment and may be used as indication of critical (and prosperous) developments. More generally, the proposed approach allows to predict probabilities for different overall states of social entities by using local network positions and could be applied on various phenomena.
Ulhøi, John Parm; Madsen, Henning
) becoming an empty catch-phrase of contemporary environmentalism, a thorough analysis and discussion of the concept is therefore required. A distinction is made between sustainable growth and sustainable development. In the general debate sustainable growth is often used by politicians and developers...... as synonym for sustainable development. It is argued, however, that this is either a misunderstanding based on a superficial knowledge about the meaning of the sustainability concept or simply that it is cynically used to make the traditional growth philosophy more 'digestible' in an age of increasing...... environmental concern. Except from the concept of industrial ecology, present environmental responses from industry bear little resemblance with a basic systems approach to the concept of sustainability. A systems approach, as in constrast to a reductionist approach, holds promises for paving the way...
Full Text Available The nature and value of natural resources payments under sustainable economic development are revealed. Mechanisms of using of natural resources potential of Ukraine are examined. Payments for use of natural resources is one of the most important components of an economic mechanism of nature management are established. Features of current legislation as to the setting fees for nature management are studied and the necessity of creating an effective institutional support in controlling of tax authorities for the collection of payments for natural resources and their evaluation is proved.
Watson, A.; Sandor, D.; Butheau, M.
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.
Zhang, Jie; Tejada-Martinez, Andres E; Lei, Hongxia; Zhang, Qiong
Various studies have attempted to improve disinfection efficiency as a way to improve the sustainability of ozone disinfection which is a critical unit process for water treatment. Baffling factor, CT10, and log-inactivation are commonly used indicators for quantifying disinfection credits. However the applicability of these indicators and the relationship between these indicators have not been investigated in depth. This study simulated flow, tracer transport, and chemical species transport in a full-scale ozone contactor operated by the City of Tampa Water Department and six other modified designs using computational fluid dynamics (CFD). Through analysis of the simulation results, we found that baffling factor and CT10 are not optimal indicators of disinfection performance. We also found that the relationship between effluent CT obtained from CT transport simulation and baffling factor depends on the location of ozone release. In addition, we analyzed the environmental and economic impacts of ozone contactor designs and upgrades and developed a composite indicator to quantify the sustainability in technological, environmental and economic dimensions. Copyright © 2016 Elsevier Ltd. All rights reserved.
The goal of Valdis Rocens’s thesis „Competitive Environment in Higher Education, Economic Efficiency and National Economic Growth” is the assessment of the correlation between the competition among the institutions of higher education, the economic efficiency of higher education and the states’ economic growth. The research is based on P.Romer’s economic endogenous growth theory and M.Porter’s competition five forces model. In the thesis, there has been measured the competition...
This paper principally analysed the importance of domestic debt on economic growth of Nigeria. The objective of the study is to investigate the relationship between government domestic debt and economic growth and policy that is likely to improve private sector investment and break growth resistance problem.
Health can be the source of economic growth, just as wealth can ... They engage in petty trading, subsistence farming and hawking of food ... growth. The number of healthy people in any economy determines the pace of the economic growth. Paradox of Health and Wealth. There is a common saying that “A healthy nation is ...
Liu, Meizhen; Wang, Bingxue; Osborne, Colin P; Jiang, Gaoming
Grassland degradation caused by overgrazing poses a threat to both animal husbandry and environmental sustainability in most semi-arid areas especially north China. Although the Chinese Government has made huge efforts to restore degraded grasslands, a considerable attempt has unfortunately failed due to an inadequate consideration of economic benefits to local communities. A controlled field experiment was conducted to test our hypothesis that utilizing natural grasslands as both habitat and feed resources for chickens and replacing the traditional husbandry system with chicken farming would increase environmental sustainability and raise income. Aboveground plant biomass elevated from 25 g m(-2) for grazing sheep to 84 g m(-2) for chicken farming. In contrast to the fenced (unstocked) grassland, chicken farming did not significantly decrease aboveground plant biomass, but did increase the root biomass by 60% (ptraditional sheep grazing, chicken farming significantly improved soil surface water content (0-10 cm), from 5% to 15%. Chicken farming did not affect the soil bulk density, while the traditional sheep grazing increased the soil bulk density in the 0-10 cm soil layer by 35% of the control (ptraditional practice of raising sheep. Ecologically, such an innovative solution allowed large degraded grasslands to naturally regenerate. Grasslands also provided a high quality organic poultry product which could be marketed in big cities. Chicken farming is an innovative alternative strategy for increasing environmental sustainability and economic income, rather than a challenge to the traditional nomadic pastoral system. Our approach might be technically applicable to other large degraded grasslands of the world, especially in China.
Full Text Available Uncritical fostering of social development within the industrial paradigm often referred to as "unlimited growth", has caused so catastrophic effects that they could argumentatively be described as a real ecocide. This is not only reflected in the total pollution of environment, irrecoverable destruction of natural resources and non-renewable energy sources, but the very existence of elementary biological preconditions for survival of human and other life forms on Earth is endangered. Social development, perceived and applied as mere growth, has favored partial interests on behalf of those of the whole. It has also endorsed interests of present over future generations relying on partial, positivist knowledge against holism humanism and wisdom. These effects have contributed to the new knowledge of the necessity for radical change in dominant development paradigm. An alternative has been found by some authors in the concept of "sustainable development". This concept is based on the idea of adjustment of social growth and development to the natural adaptive capacities. The idea of sustainable development should represent a key for human duration in time and with this a concrete form of responsibility towards future generations. This strategy, now within the ecological paradigm, transcendent partiality of industrial paradigm and offers a uniquely new form for the rationalization of development. At the same time this strategy functions as a new form of ethics (biocentric instead of anthropocentric one and as a new model for wisdom of living. The concept of sustainable development is also the only operative way for radical and permanent elimination of the deepest causes of ecological crises instead of periodical and partial healing of its consequences.
Chirwa Themba G.
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.
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.
Full Text Available The gender factors that trigger economic growth in both high- and low-income countries were investigated in this study. To address these gender factors, four characteristic dimensions of gender inclusion were considered: education, access to the labor market, fertility, and democracy. The relationship between economic growth and gender factors was analyzed in a sample of 127 countries. Value and robustness were added to the results using dynamic models applied to panel data while accounting for endogeneity. We conclude that high fertility in women has negative effects on economic growth. However, when women have greater access to secondary education and the labor market in conditions of equality, the effects are positive. Similarly, the access of women to active political participation has significant effects on economic growth. Overall, this study helps identify which gender factors may promote inclusive economic growth, which is economic growth achieved when both men and women are incorporated in equal conditions.
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
Engjell PERE; Albana HASHORVA
Actually economic policies in many countries aimed to stimulate their economic growth, particularly after negative impact of the global economic crisis. In this regards, fiscal regulation are an important aspect of those policies, that can promote or obstacle the economic growth in general. In this point of view this paper aims to analyze the system of administration rules in different Western Balkans Countries, (which includes Albania, Bosnia & Herzegovina, Croatia, Kosovo, Macedonia (FYROM)...
Full Text Available The object of the research paper is to perform an empirical analysis of foreign direct investment (FDI influence on economic growth with the aim of establishing factors that will contribute to overcoming the problem. The research results imply that realistic exchange rate, export and import as well as state expenditures are statistically significant for predicting economic growth movement and they have a positive influence on FDI movement. Empirical analysis, contrary to expectations, has shown that FDI, public debt and openness have a negative impact on economic growth in the case of Republic of Serbia. In the following period Serbia has to decrease the share of budget deficit in GDP and control public debt. Serbia has to pay special attention to improving investment environment and encourage export oriented production, whereas finance management and continuation of reform processes are the basis for establishing sustainable development of country, with sustainable use of available resources.
Philip Kofi Adom
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...
Aziz, Babar; Khan, Tasneem; Aziz, Shumaila
This paper investigates the returns of higher education on economic growth of Pakistan from 1972 to 2008 through the application of Cobb-Douglas production function. The prime objective of the study is to identify and establish a link between the higher education and economic growth of Pakistan. For this purpose the impact of higher education enrollment on economic growth is analyzed. An attempt is made, in this study, to analyze the educational trends, the strategies and challenges for highe...
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
Full Text Available As the largest developing country in the world, with rapid economic growth, China has witnessed fast-paced urbanization development over the past three decades. In fact, urbanization has been shown to promote economic growth and improve the livelihood of people, but it can also increase energy consumption and further generate energy crisis. Therefore, a better understanding of the relationship between urbanization, economic growth and energy consumption is important for China’s future sustainable development. This paper empirically investigates the long-term equilibrium relationships, temporal dynamic relationships and causal relationships between urbanization, economic growth and energy consumption in China. Econometric models are utilized taking the period 1980–2012 into consideration. Cointegration tests indicate that the variables are found to be of I(1 and cointegrated. Further, vector error-correction model (VECM indicates that when the short-term fluctuations deviate from the long-term equilibrium, the current changes of energy consumption could eliminate 9.74% non-equilibrium error of the last period, putting back the situation to the equilibrium state through a reverse adjustment. Impulse response analysis intuitively portrays the destabilized changes of the variables in response to some external shocks. However, the impact of energy consumption shock on urbanization and the impact of urbanization on economic growth seem to be rather marginal. Moreover, Granger causality results reveal that there is a bi-directional Granger causal relationship between energy consumption and economic growth, and unidirectional causality running from urbanization to energy consumption and economic growth to urbanization. The findings have important implications for Chinese policymakers that on the path towards a sustainable society, the effects of urbanization and economic growth on energy consumption must be taken into consideration.
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.
Daniel W. McCollum; Louis E. Swanson; John A. Tanaka; Mark W. Brunson; Aaron J. Harp; L. Allen Torell; H. Theodore Heintz
Social and economic systems provide the context and rationale for rangeland management. Sustaining rangeland ecosystems requires attention to the social and economic conditions that accompany the functioning of those systems. We present and discuss economic and social indicators for rangeland sustainability. A brief conceptual basis for each indicator is offered,...
Hillman, Brett; Douglas, Ellen M; Terkla, David
Decades of agricultural growth has led to the over appropriation of Yakima water and the ecological integrity of the Basin has been compromised. We evaluate the impact of current water allocation on the natural flow regime of the Yakima River using the Indicators of Hydrologic Alteration/Range of Variability Analysis and by quantifying indicators of ecosurplus and ecodeficit. We analyze the sustainability of the current water allocation scheme based on a range of sustainability criteria, from weak to strong to environmentally sustainable. Economic efficiency is assessed by describing the current allocation framework and suggesting ways to make it more efficient. Our IHA/RVA analysis suggests that the allocation of water in the Yakima River has resulted in a highly altered flow regime. Ecodeficit is far in excess of ecosurplus. We conclude that this allocation scheme is weakly sustainable, if sustainable at all, in its current framework. The allocation of water is also not economically efficient and we suggest that a reallocation of water rights may be necessary in order to achieve this objective. The creation of water markets to stimulate voluntary water rights transactions is the best way to approach economic efficiency. The first step would be to extend beneficial use requirements to include instream flows, which would essentially allow individuals to convert offstream rights into instream rights. The Washington trust water rights program was implemented as a means of creating a water market, which has contributed to the protection of instream flows, however more needs to be done to create an ideal water rights market so that rights migrate to higher valued uses, many of which are met instream. However, water markets will likely not solve the Yakima's water allocation problems alone; some degree of regulation may still be necessary. Copyright © 2012 Elsevier Ltd. All rights reserved.
Navarro José-Luis Alfaro
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.
Emission Trading System in the SER Energy Agreement for Sustainable Growth. Macro-economic calculation by means of WorldScan; ETS in het SER Energieakkoord. Macro-economische doorrekening met WorldScan
Brink, C. [Planbureau voor de Leefomgeving PBL, Den Haag (Netherlands)
The Dutch National Energy Agreement for Sustainable Growth aims at strengthening the European system for emissions trading by a more strict emission ceiling. Also, the agreement aims at guarantee the competitiveness of global energy intensive businesses by adjusting the allocation method for emission rights. In the calculations for the energy agreement this is reflected in the adjustment of the ETS pricing path. In this memo the calculations with the equilibrium model WordlScan are described and presented [Dutch] Het Nationaal Energieakkoord voor Duurzame Groei zet in op een versterking van het Europees systeem voor emissiehandel (ETS) door aanscherpen van het emissieplafond. Verder wil het akkoord de concurrentiepositie van het mondiaal opererende energie-intensieve bedrijfsleven borgen door aanpassing van de allocatiemethode voor emissierechten. In de doorrekening van het Energieakkoord is deze inzet tot uitdrukking gebracht in een aanpassing van het ETS-prijspad. Deze notitie beschrijft de berekeningen met het algemeen evenwichtsmodel WorldScan waar deze aanpassing van het ETS-prijspad op is gebaseerd.
Raman Kumar Agrawalla
Full Text Available Business enterprises exist in a world that is fiercely competitive, tied with huge global uncertainties. They always encounter increasing pressure on prices and margins. Hence, irrespective of their domain of operations and industry, businesses are naturally concerned about their growth, specifically sustained profitable growth, in today’s world. Marketing is a key business function to market and lead a business towards sustained profitable growth but the problem is it lacks a systems perspective in its operations, strategy, and practice. Further, given the confluence and systemic interactions of various economic, digital, and competitive forces; the challenge for different business functions—including marketing—increases tremendously. In this context, it is important for business enterprises to have a systems perspective to find their ways to growth that will be sustained. This calls for a holistic approach to assimilate and steer the business functions in any enterprise. The present conceptual paper focuses on an important business function for sustained growth in a holistic way and presents a systems model, called ‘Value Based Business Approach (VBBA-marketing’, which has potential to guide and steer companies and business enterprises to create a path for their sustained profitable growth.
Full Text Available The article presents the results of a systematic consideration of the complex issues of sustainable development of the national maritime transport subsystems in the global maritime transport industry. Particular attention is paid to the analysis of the real conditions of operation. There are feasible measures which should be taken to normalize the development of the national merchant fleet in order to achieve relative stability and to minimize the risk of losing the status of maritime power. Aspects of international administration in marine transport industry are highlighted in this article. The article deals with the scientific and methodological approaches to the choice of governance of economic and investment activity in the system of market relations.
Full Text Available South Africa hosted the World Summit on Sustainable Development (WSSD in 2002. This event is regarded as the single biggest conference to be held anywhere in the world. The aim of this paper is to set out the estimated economic impact of the WSSD and its parallel events on South Africa. This impact can be expressed in monetary terms as well as employment figures. The impact is calculated by using an input-output model and employment spin-offs determined from the IO table by using partial multipliers. The input data were derived from a survey amongst WSSD delegates as well as information on government and private investments made.
Adel Shakeeb MOHSEN
Full Text Available This study attempts to investigate the determinants of economic growth in Syria from 1980 to 2010. Results from the Johansen cointegration test indicate that public sector investment, private sector investment, exports, oil price, and population growth have positive long-run relationships with economic growth. Public sector investment has the biggest effect on economic growth. The Granger causality test results indicate bidirectional causality relationships between public sector investment, private sector investment, oil price, population growth and GDP in the short and long run. There are also bidirectional causality relationships between exports and GDP in the short run, and unidirectional causality relationship running from exports to GDP in the long run.
Wioletta Wrzaszcz; Józef St. Zegar
Sustainability of agriculture and agricultural farms is the subject of increasing interests of society and researchers. The main problem of this issue is appropriate methodology of measuring agriculture sustainability, due to its complexity. Different proposals are presented and discussed, and still, there is no generally accepted measures of agriculture sustainability. This problem also concerns agricultural holdings` economic and environment sustainability examination. The particular dilemm...
Koeijer, de T.J.
Keywords: Sustainable farming systems, Agronomic efficiency, Economic efficiency, Environmental efficiency, Sustainability index, Interdisciplinary analysis.
The objective of the research described in this thesis was to determine what role improved agronomic efficiency can play in
So, Dae Sup; Kim, Chang Woo; Chung, Pil Seung; Jhon, Myung S.
Korea has become one of the leading countries in nanotechnology along with the U.S., Japan, and Germany. Since 2001, the Korean Government established the "Nanotechnology Development Plan." Since then, the trend in nanotechnology is steadily changing from fundamental research to application-driven technologies. In this paper, we examine the nanotechnology development and policy during the past decade, which includes the investments in R&D, infrastructure, and education. The Third Phase (2011-2020) on clean nanotechnology convergence and integration in information, energy, and the environmental sector is also given. Furthermore, the program on long-term strategy dealing with sustainability in resolving future societal demand and plans for sustainable energy and environmental activities will be discussed in depth. The outcomes and national evaluations of research and education are also given.
Priyadarshi, Shishir; Biswas, Trineesh
This essay reviews the historical and ongoing role played by trade in sustained high growth and human development progress, and makes the case that the post-2015 development agenda should include considerations related to trade rules and supply-side capacity. Given the strong links between trade-led growth, economic upgrading, and poverty reduction, the paper argues that trade led economic growth must be prioritised in the post-2015 development agenda.
.... 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...
Kosyrieva Olena V.
Full Text Available The article is devoted to the investigation of current approaches to identification of factors of economic growth in the regions. The theory of new economic geography based on works and studies of P. Krugman has been considered. There highlighted the key issues of regional economic growth requiring an in-depth studying and consideration in the elaboration of strategies for sustainable development of the regions. The views of leading domestic and foreign scholars as well as the OECD experts, the World Bank, the National Statistics Service of the United Kingdom and others on the main drivers of economic growth have been analyzed. On the basis of the study the factors of regional economic growth most commonly encountered in theory and practice have been generalized. It is proved that scientists and analysts most often classify as the factors of regional economic growth the following ones: those characterizing human potential, scientific-technical and innovative activity, management and institutional capacity. The factors less frequently correlated by specialists and scientists with the regional economic growth include: those characterizing the environment, business and sociopolitical factors, which is associated with difficulty of their quantification, but in any case does not diminish their importance.
Rooting, growth and sustainability of yellow Ficus ( Ficus retusa 'Nitida') as affected by growth media under nursery conditions. ... Significantly (P<0.05) highest vegetative and root length was produced by plants grown on a mixture of sawdust, cow dung and topsoil (1:1:3). Root length of Ficus retusa 'Nitida' was best ...
This Policy Note discuses, based on modern development theory and wealth accounting, challenges for economic- and fiscal policies in resource-producing countries defined as countries - both developed and developing low income countries - which rely heavily on non-renewable or exhaustible natural wealth.(Author)
No doubt, human resources constitute the ultimate basis for the wealth of nations. Capital and natural resources are passive factors of production; human beings are the active agents who accumulate capital, exploit natural resources, build social, economic and political organization for sustainable economic development.
Zuniga, Allison F.; Rasky, Daniel; Pittman, Robert B.; Zapata, Edgar; Lepsch, Roger
The NASA COTS (Commercial Orbital Transportation Services) Program was a very successful program that developed and demonstrated cost-effective development and acquisition of commercial cargo transportation services to the International Space Station (ISS). The COTS acquisition strategy utilized a newer model than normally accepted in traditional procurement practices. This new model used Space Act Agreements where NASA entered into partnerships with industry to jointly share cost, development and operational risks to demonstrate new capabilities for mutual benefit. This model proved to be very beneficial to both NASA and its industry partners as NASA saved significantly in development and operational costs while industry partners successfully expanded their market share of the global launch transportation business. The authors, who contributed to the development of the COTS model, would like to extend this model to a lunar commercial services program that will push development of technologies and capabilities that will serve a Mars architecture and lead to an economical and sustainable pathway to transporting humans to Mars. Over the past few decades, several architectures for the Moon and Mars have been proposed and studied but ultimately halted or not even started due to the projected costs significantly exceeding NASA's budgets. Therefore a new strategy is needed that will fit within NASA's projected budgets and takes advantage of the US commercial industry along with its creative and entrepreneurial attributes. The authors propose a new COTS-like program to enter into partnerships with industry to demonstrate cost-effective, cis-lunar commercial services, such as lunar transportation, lunar ISRU operations, and cis-lunar propellant depots that can enable an economical and sustainable Mars architecture. Similar to the original COTS program, the goals of the proposed program, being notionally referred to as Lunar Commercial Orbital Transfer Services (LCOTS
Richardson Kojo Edeme
Full Text Available Towards the acceleration of the attainment of sustainable growth, most countries have focused on agricultural exports as a means of driving their economy. Developing countries of Africa are highly dependent on the agricultural sector and agricultural exports are a major determinant of economic growth of these countries. However, the impact of agricultural exports on economic growth of ECOWAS countries remains unclear. This study therefore evaluates the impact of agricultural exports on the economic growth of fifteen ECOWAS countries using panel data for the period 1980–2013. Variables employed are labour force participation rate, capital stock, agricultural exports, non-agricultural exports, inflation and economic growth. The results of the fixed-effect model show that agricultural exports have not impacted significantly on the economic growth of ECOWAS countries such as Côte d’Ivoire and Nigeria with respect to the Republic of Benin, which is the selected baseline. The study also analysed the country combined effect of the agricultural exports and found that it was significant but the rate of impact was weak. The study recommends, among others, that even though agricultural exports had a significant impact on economic growth, there is still a need for ECOWAS governments to improve their agricultural sector as its significance is more noticeable in some countries such as Côte d’Ivoire and Nigeria.
Countries like New Zealand, Iceland, and Denmark offer evidence of this. Models of African development such as the Lagos Plan of Action in terms of the whole continent are discussed within the context of existing impediments to such progress. Keywords: economic growth, economic development, human capital, growth ...
S.J.A. Hessels (Jolanda); A.J. van Stel (André)
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
Glendening, Richard N.
To study the relationship of education to economic growth for the state of Iowa, the hypothesis that increasing the level of education for the labor force would lead to higher levels of income or economic growth was tested for the period from 1950-1967. The Cobb-Douglas production was used to evaluate the relationship. The function used labor…
PROF. O. E. OSUAGWU
Dec 1, 2013 ... David E., David Canning and Jay pee Sevilla (2001). The Effect of Health on. Economic Growth: Theory and Evidence. NBER Working Paper NO. 8587. November.  Bratti, M., Bucci A.and Moretti (2004) “Demographic Trends, Human Capital and economic. Growth in Developing Countries: Theory and ...
Ganegodage, K. Renuka; Rambaldi, Alicia N.
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…
The primary aim of the study is to estimate the long run relationship between economic growth (RGDP) and currency devaluation. This study investigated the impact of currency devaluation on economic growth of Nigeria. This was achieved through a review of literature and a test of hypothesis. In order to generate the ...
Erumban, Abdul; Das, Deb Kusum
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
Health and economic growth are germane to each other. The extent to which one can affirm the influence of the one on the other is, however, dependent on the available situational evidence. Health can be the source of economic growth, just as wealth can enhance health condition. In the South eastern states of Nigeria, ...
This paper examines the long run and short run impact of the services sector on economic growth in Mauritius. Using an augmented aggregate production function growth model, we apply the bounds testing approach to cointegration to assess the impact of different activities in the services sector on economic performance ...
Chervin, M.; van Wijnbergen, S.
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
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…
This study investigated the role of stock market development on economic growth of Nigeria using a 15-year time series data from 1994 - 2008. The method of analysis used is Ordinary Least Square (OLS) techniques. The study measures the relationship between stock market development indices and economic growth.
Nir Y. Krakauer
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.
However, whether there is any link between EAC's regional trade and the region's economic growth remain unknown. ... Impulse response analysis on trade and economic growth were performed using panel data from UNCOMTRADE, International Financial Statistics and World Development Indicators for the period 2000 ...
Dynamic analysis of savings and economic growth in Nigeria. ... Journal of Agriculture and Social Research (JASR) ... Relevant literature having been reviewed, a trivariate dynamic Granger causality model with savings, economic growth and foreign capital inflows was adopted as against the weak bivariate Granger ...
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...
Full Text Available What is economic growth? Although the answer to this question may seems of real simplicity, developing an accurate definition of this concept may constitute a real challenge both from a theoretical but also empirical point of view. This constant debate upon the concept of economic growth as well as indentifying the optimum set of instruments for quantifying it, constituted the starting point of the current article. The concept of economic growth is used nowadays complementary to terms like economic development, economic welfare or economic progress with reference to this complex process that implies macro-scale structures. Moreover indentifying the main factors that generate a significant impact upon the dynamics of the economic growth process, constitute a useful approach taking into consideration the high degree of heterogeneity that characterize the architecture of the economies around the world. If we develop this analysis across the European Union member states this debate became even more challenging due to the high degree of diversity that characterize these economies. Moreover, the Central and Eastern European countries and especially the ones that joined EU in 2004 and 2007 embody a set of particularities that make them extremely different from the rest of the European Union member states, features related to the historical background, economic policies and common efforts to intensify the convergence process with the more developed EU members. This paper studies the impact of two main factors upon the economic growth process namely an endogenous-exogenous factor like the degree of openness and an endogenous factor like the human capital using a complex dynamic panel method. The arguments that were in favour of choosing this two factors are on one hand the multitude of theoretical studies that argued the importance of them in modelling the economic growth process and on the other hand the small number of studies that use panel methods in
Groth, Christian; Koch, Karl-Josef; Steger, Thomas
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......) serves as illustration that a continuum of "regular" growth processes fill the whole range between exponential growth and complete stagnation....
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....
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…
Full Text Available The paper discusses the role that government policies and macroeconomic reforms played in influencing economic growth in Zambia during the period 1964-2013. The study identifies two economic systems that guided the implementation of policies and reforms in Zambia. The first relates to a command-driven economy, where economic growth patterns were influenced by nationalist ideologies and administrative controls. The second relates to a market-driven economy where economic growth patterns were influenced by market-oriented fundamentals with some degree of administrative controls. The study concludes that economic policies and reforms were instrumental in influencing the performance of major macroeconomic drivers of economic growth in Zambia such as the accumulation of physical capital, human capital development, international trade, real exchange rate determination and inflation.
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.
Hu, Zhenhua; Luo, Shuang
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.
The features of the economic sustainability of agricultural enterprises have been determined. The factors of its formation have been identified. Algorithm research of economic stability and recommendations for its formation have been suggested.
Ionica Oncioiu; Florentina Raluca Bîlcan; Anca Gabriela Petrescu
India has experienced a robust economic growth in the recent years, but with a trajectory which offers both positive and negative lessons on the business innovation faced by many countries in Asia and elsewhere in the developing world. This study sought to test the relationship between innovation, financial performance and economic growth. Data were analyzed using descriptive and inferential statistics on the factors that contribute to assuring the innovation of the processes invo...
Álvarez Espinoza, Roberto; Görg, Holger
This paper examines the link between multinational enterprises and employment growth at the plant-level. We investigate in detail the comparative response of multinationals and domestic firms to an economic crisis, using the empirical setting of a well defined case of economic slowdown in Chile as a natural experiment. In our empirical analysis we find that employment growth in manufacturing plants has been drastically reduced during the economic crisis. More importantly, we do not find evide...
Population growth has a substantial impact on economic development. There are two schools of thought regarding this issue. Some researchers maintain that population has a negative impact on economic development while others are convinced that the effect is positive. This paper aims to provide additional evidence by employing the bounds test (Pesaran et al., 2001) to analyse a long-run relationship between population growth and economic development in Thailand. The findings of this study indic...
Rosenzweig, Mark R.
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...
The question of why economies grow has been at the heart of economic inquiry since Adam Smith. The final article is a review of the recent book Why Economies Grow: The Forces That Shape Prosperity and How to Get Them Working Again by Jeff Madrick. He argues that the growth of markets through trade, colonization, and domestic expansion was the predominate factor in Western economic development. While technological innovation is necessary to growth, it is as much a consequence of economic oppor...
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.
during and following conflict. Section III: Theory Conflict, Economic Aid, and Military Assistance in the Solow Growth Model The neoclassical growth...4 Section II: Literature Review…………………………………………………………….12 Section III: Theory ……………………………………………………………………….14...off of the neoclassical economic growth model to consider how conflict, economic aid, and military intervention affect GDP per capita growth both
It is increasingly clear that current transport systems are not environmentally, and, consequently, not socially or economically, sustainable over the long term. A new policy approach is needed that gives prominence to environmental criteria along wi...
Full Text Available Sustainable growth and responsibility for the economy and the environment are postulates rarely associated with the term “financial market”. Financial markets are identified with the ruthless maximisation of profit at acceptable risk, rather than with socially responsible conduct. However, in the global economy businesses modify their priorities and become aware of not just the need to grow in financial terms but also to improve their quality performance. International financial markets have become part of this trend and are increasingly often adopting environmentally friendly attitudes and embracing the challenges posed by the concept of sustainable growth. Ideas such as CSR – Corporate Social Responsibility – and SRI – Socially Responsible Investment are gaining in importance. While sustainable growth of the economy as perceived from the point of view of the manufacturing or service sectors is widely discussed, the sustainable growth of financial markets is a relatively new concept and the available literature on “green” financial markets is quite scarce. This paper is intended to fill in this gap and examine the changes that have taken place on financial markets in the context of the idea of sustainable growth, with particular attention paid to the European Union markets.
Henningsson, Stefan; Toppenberg, Gustav; Shanks, Graeme
Value creating acquisitions are a major challenge for many firms. Our case study of Cisco Systems shows that an advanced Enterprise Architecture (EA) capability can contribute to the acquisition process through a) preparing the acquirer to become ‘acquisition ready’, b) identifying resource......-based growth strategy over time....
Krozer, Y.; Brezet, J.C.
The paper discusses innovations for both income growth and the generation of better environmental qualities. This is possible in theory but progress in practices is slow. We argue that social pressures to contain pollution were effective insofar they invoked environmental policies all over the
Full Text Available The paper presents the use of the “time series model” to forecast the quarterly and yearly sales for a company with business seasonality. These sales forecasts will represent the fundamental basis for estimating the external financing, using the percentage to sales method. Sales growth rates are afterwards analysed in the context of ensuring a sustainable and self-financed growth. We focus on establishing the forecasted financial structure of the external financial requirements both in the context of using the reinvested profit complemented with credit, maintaining the debt rate constant, and in the context of total internal funding of the company economic growth, from reinvested profit.
Madsen, Jakob B.; Ang, James B.; Banerjee, Rajabrata
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.......Using long historical data for Britain over the period 1620–2006, this paper seeks to explain the importance of innovative activity, population growth and other factors in inducing the transition from the Malthusian trap to the post-Malthusian growth regime. Furthermore, the paper tests the ability...
This report focuses on economic trends since the 1970s in rural southeast Alaska. These trends are compared with those in the Nation and in nonmetropolitan areas of the country to determine the extent to which the economy in rural southeast Alaska is affected by regional activity and by larger market forces. Many of the economic changes occurring in rural southeast...
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
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.
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...
Abstract. This paper applies the adjusted balance of payment (BOP) constrained growth framework modified by Thirwall and Hussain (1982) on Nigeria's economic growth to estimate the determinants of the long run rate of growth in Nigeria. With Nigeria adopting the import substitution industrialization policy in 1960, we ...
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.
Chan il Park
Full Text Available The purpose of this paper is to investigate the relationship between financial development and economic growth based on Chinese experiences during the period of 1979~2000. This study places more emphasis on the causality running from economic growth to financThe purpose of this paper is to investigate the relationship between financial development and economic growth based on Chinese experiences during the period of 1979~2000. This study places more emphasis on the causality running from economic growth to financial development contrary to the mainstream view, which asserts that the well-functioning financial systems exert a large positive impact on economic growth via two channels- capital accumulation and technological innovations. The reverse causality is postulated by considering two factors in developments of the country's financial system. Firstly, this paper argues that the rapid accumulation of financial assets and the remarkable expansion of the financial system during the examined period are due primarily to income rises and changes in industrial structures rather than inefficient financial reforms. Secondly, it is recognized in this study that various financial reform measures undertaken by the state since 1994 are emerged endogenously in response to Chinese financial disorders and macroeconomic imbalances built up during the 1979~93 period. This line of thinking is not following the mainstream view in which financial reforms are regarded as policy variables (or exogenous variables in promoting economic growth. These two factors imply that the causality may run from economic growth to financial development at least in China.
Fairlie Reinoso, Alan
Since the concern about the negative impacts of the current economic modelin the scarcity of natural resources and their conservation, it comes the need toconfront them and create, from academia, some research areas that include thesenew features and development trends. In this paper, an overview of the conceptualaspects of the main proposals for the transition to sustainable development isperformed, such as the Green Growth, Bio-Commerce, Bio-Economy, amongothers. Then, it is identified and ...
Full Text Available Tourism is one of the biggest economic sectors, it has a significant impact on the environment. At the same time, the long-term development of tourism also greatly depends on the environment it affects. Experts are unanimous that it is necessary for the longterm existence and development of tourism that it becomes sustainable. Nevertheless, in tourism businesses, sustainable development strategies are not sufficiently present and put into practice. The author of the article presents the argument as a possible reason for this: the management of tourism enterprises as well as management of all the companies is focused on doing business successfully; and because the performance of management is assessed in terms of growth and security of its operations, and not in relation to the measures taken in the field of sustainable development, management gives priority to ensuring relatively short-term growth and security of operations.
Marco Antonio Sotelo Monge
Full Text Available In recent years, an important increase in the amount and impact of Distributed Denial of Service (DDoS threats has been reported by the different information security organizations. They typically target the depletion of the computational resources of the victims, hence drastically harming their operational capabilities. Inspired by these methods, Economic Denial of Sustainability (EDoS attacks pose a similar motivation, but adapted to Cloud computing environments, where the denial is achieved by damaging the economy of both suppliers and customers. Therefore, the most common EDoS approach is making the offered services unsustainable by exploiting their auto-scaling algorithms. In order to contribute to their mitigation, this paper introduces a novel EDoS detection method based on the study of entropy variations related with metrics taken into account when deciding auto-scaling actuations. Through the prediction and definition of adaptive thresholds, unexpected behaviors capable of fraudulently demand new resource hiring are distinguished. With the purpose of demonstrate the effectiveness of the proposal, an experimental scenario adapted to the singularities of the EDoS threats and the assumptions driven by their original definition is described in depth. The preliminary results proved high accuracy.
Germani, Alessia; Vitiello, Valeria; Giusti, Anna Maria; Pinto, Alessandro; Donini, Lorenzo Maria; del Balzo, Valeria
The Mediterranean diet (MD) has been proposed as a healthy dietary pattern for disease prevention. However, little information exists on the cost and on the environmental impact of such a dietary model. We compared the environmental impact and the costs of the current food consumption pattern of the Italian population and the Mediterranean model in order to investigate its overall sustainability. The environmental impact was calculated on the basis of three indexes, i.e. Carbon, Ecological and Water Footprint. The costs (Euro) per person of the MD and of the current Italian household food expenditure were considered on a weekly basis according to the 2013 data from the Observatory prices and tariffs of the Ministry of Economic Development and the service SMS consumers of the Ministry of Agriculture, Food and Forestry. The MD resulted to produce a lower environmental impact than the current food consumption of the Italian population. The monthly expenditure of the MD is slightly higher in the overall budget compared to the current expenditure allocated to food by the Italian population, but there is a substantial difference in the distribution of budget according to the different food groups.
Sikder, Md.Anowarul Islam
Financial repression in a developing country is not new to us. The government may take policy for financial repression due to easy collection of inflation tax to the stage of economic development. This study is concerned to find the positive relationship between financial development and economic growth and productivity in the economy of Bangladesh. The research concluded that the financial repression has a negative relationship to the economic growth and productivity but the financial develo...
Brooks, David B.; Andrews, P. W.
World mineral supply and demand is discussed. The economics of future mineral availability in terms of effects on pollution, land use, energy consumption, human settlements, and the international distribution of income are emphasized. (DT)
Saharan Africa;; Promoting peer-learning and knowledge exchange between research ... Ghana and Côte d'Ivoire are neighbouring countries with similar resource endowments and socio-cultural environments but very different economic ...
Maragakis, Antonios; van den Dobbelsteen, Andy; Maragakis, Alexandros
As students continue to review the sustainability of higher education institutions, there is a growing need to understand the economic returns of degrees as a function of a sustainable institution. This paper reviews a range of international research to summarize the economic drivers of higher education attainment. Although the cost inputs to…
Maragakis, A.; van den Dobbelsteen, A.A.J.F.; Maragakis, A.
As students continue to review the sustainability of higher education institutions, there is a growing need to understand the economic returns of degrees as a function of a sustainable institution. This paper reviews a range of international research to summarize the economic drivers of higher
In this paper education simultaneously affects growth and income inequality. More education does not necessarily decrease inequality when the latter is assessed by the Lorenz dominance criterion. Increases in education first increase and then decrease growth as well as income inequality, when measured by the Gini coefficient. There is no clear functional relationship between growth and measured income inequality. The model identifies regimes of this relationship which depend crucially on the ...
Henderson, J. Vernon; Storeygard, Adam; Weil, David N.
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
Full Text Available This review focuses on increasing economical efficiency and sustainability of indoor fish farming. Aspects like sustainability and economical efficiency were reviewed. In order to improve man`s health we must reconsider the agricultural sciences, by this we understand that we must develop technologies friendly for the environment. Sustainable indoor fish farming is the farming of the new millennium. Combining aquaculture with hydroponics we obtain a new innovation named aquaponics which respects principles of sustainable agriculture (wastewater biofiltration by plants and gives us the possibility to increase economical efficiency with an additional production (organic vegetables.
Full Text Available The current paper investigates the existence and nature of the Granger causality between electricity consumption and economic growth for 17 industries in Taiwan. Empirical results over the period 1998–2014 suggest that a panel cointegration test shows a long-run equilibrium relationship and a bi-directional Granger causality between electricity and economic growth has been found. The result indicates that a 1% increase in electricity consumption boosts the real GDP by 1.72%. The government can pursue energy conservation and carbon reduction policy in some industries without impeding the economic growth for adjusting the industrial structure.
Full Text Available An economic growth model with individual years of schooling is present. It is proved that there exist optimal individual years of schooling for fixed wage growth rate. On the other hand, the economy has balance growth path for given individual years of schooling. Finally, we prove that there exist optimal individual years of schooling and economic growth rate such that the individual lifetime utility reaches maximum and the economy grows on a balance growth path.
environmental factors, alongside financial factors, into consideration in making procurement decisions". This is expected to ... The United Nations sees sustainable or Green. Public Procurement (GPP) as a ... is a major institution which provides development finance to its clients for development of infrastructure and other ...
Full Text Available The idea of sustainable development has been discussed in tourism research for almost a quarter of a century. During that time, sustainability has become an important policy framework for tourism and regional developers guiding their planning and development thinking. Sustainability has also emerged academically as an important field of research with an emphasis on defining the limits to growth and responsibilities in tourism. However, while there are urgent needs to incorporate sustainability into tourism, there is also a growing amount of frustration among scholars on the conceptual nature of sustainability and how tourism as a private-driven economic activity relates to the ideals of sustainable development. This has created an increasing need to understand and potentially reframe the concept. The purpose of this paper is to overview the conceptual dimensions of sustainable tourism and discuss some of the main sources of frustration. Based on this, it is concluded that while a conceptual plurality seems to be unavoidable, there is a need to re-frame i.e., rescale and decentralize tourism in policy frameworks and practices aiming towards sustainability.
Ten Raa, T.; Wolff, E.N.
Productivity growth is the main vehicle to increase the standard of living. This book explains the relationships between technological change, efficiency, productivity growth and performance. The emphasis is on the interplay between industries in modern economies. The book provides a broad yet
M.A.F.G. Dejardin (Marcus)
textabstractRegional growth differentials could be explained by how intensively and dynamically new firms of a particular region enter expanding industries. Although the direct contribution of new firms to value creation and growth may be regarded as tautological, the aggregate impacts are largely
Osinga, R.; Schutter, M.; Griffioen, B.; Wijffels, R.H.; Verreth, J.A.J.; Shafit, S.; Henard, S.; Taruffi, M.; Gili, C.; Lavorano, S.
To protect natural coral reefs, it is of utmost importance to understand how the growth of the main reef-building organisms-the zooxanthellate scleractinian corals-is controlled. Understanding coral growth is also relevant for coral aquaculture, which is a rapidly developing business. This review
Adekoya Adenuga Fabian
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.
MA. Arben Salihu
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.
Diana Elena Vasiu
Full Text Available Europe 2020, a strategy for smart, sustainable and inclusive growth stresses the necessity of smart, sustainable and inclusive growth. The objectives of a sustainable economic development include sustaining economic growth, maximizing private profits and expanding markets. Considering this, economic development must based on facts, not on papers. Therefore, considering the economic dimension of sustainable development, it is important to establish if Romanian companies listed and traded on Bucharest Stock Exchange are able to obtain profit while cash is withdrawn. Even if reported in the income statement, net profit is not simultaneously charged due to accrual accounting that makes the balance sheet provide a static picture of the financial position, while the cash flow statement provides a dynamic picture of it. Therefore, the financial performance analysis based on classical indicators of performance must be accompanied by the analysis of treasury, namely of the cash flow, which provides a comprehensive assessment possibility of the financial performance, flexibility and adaptability of the economic entity, in the context of a highly competitive and often unstable environment. A positive net flows is a confirmation of the economic success of the company representing the concrete expression of the net profit and other pecuniary accumulations, interpreted as the real self-financing investment capacity, which would lead to the real asset growth and thus to the increase of the owners' wealth.
Philip Kofi Adom
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.
Full Text Available After the collapse of communism, Romania, just like other Central and East European countries, has experienced profound social and economic mutations, reflected in all activity sectors (from the transition to a market economy and democratic freedom-based society to the decreasing number of active and working population, increasing unemployment, workforce’s growing risk of poverty, rising vulnerability of certain socio-professional groups. Starting from these findings and using an appropriate methodology to identify regional convergences and disparities, the present paper is meant to perform a statistical and territorial analysis of the economic gaps recorded at the level of the Romanian counties (NUTS 3 level during the last two decades and a half. The conclusions converge towards the existence of an adjustment of the economic structures, both from the territorial and temporal perspective, while the issue of reducing regional gaps remains one of the main challenges of the future.
Z. T. Imrani
Full Text Available Aim. The aim is to determine the socio-economic aspects of sustainable development of the Republic of Azerbaijan taking into account economic, environmental, social and environmental opportunities of the country; to find the rationale for the concept of sustainable development to eliminate major differences specific to regional economic development, management of economic and social development of the regions.Methods. Historical and comparative analysis, system approach, analysis of statistical and mathematical materials.Findings. We identified the advantages of the concept of sustainable development; cunducted the analysis of the dynamics of development of the leading industries in the region; studied the most promising sectors of the regions from the economic and geographic point of view.Conclusion. We identified socio-economic aspects of sustainable development of the Republic of Azerbaijan.
economy with rising oil prices. In 2008, GDP growth rate stands at 5.3% but growth is expected to fall to 2.5% in 2009 because of the world economic downturn. GDP growth and per capita GDP over the last three decades is shown in. Figure 1 below: Trend in GDP Growth and GDP Per Capita from 1970-2008. 0. 1000. 2000.
Kox, Henk L.M.; Rubalcaba, Luis
The sector business services contributes directly and indirectly to aggregate economic growth in Europe. The direct contribution comes from the sector’s own dynamism. Though the business-services industry appears to be characterised by strong cyclical volatility, there was also a strong structural growth. Business services actually generated more than half of total net employment growth in the European Union since the second half of the 1990s. Apart from this direct growth contribution, t...
Simon György Jr.
Full Text Available The paper is searching for an answer to the question how the British model affected economic development in its mother country, the United Kingdom. The statistical analysis, models of mathematical economics and econometric investigation make it probable to conclude that there was a substantial difference in success between the Thatcherite and the Blairite economic policies; the latter proved more effective. It is particularly remarkable that the Blairite model, connecting privatization with a successful employment policy, reduced unemployment and social sensitivity, has not only speeded up economic growth but also improved economic equilibrium, curtailing, among others, the budget deficit.
Full Text Available The purpose of the study is to examine the impact of tourism on economic growth in Sri Lanka through the Autoregressive Distributed Lag (ARDL bounds testing approach. The analysis was carried out for the period from 1969 to 2009. By and large, our analysis reveals that the tourism has a positive impact on economic growth in Sri Lanka both in the short-run and long-run. Hence, it is crucial for the Sri Lankan government to achieve unification and stability by focusing on political solutions to a sustainable long-term conflict resolution in order to attract more tourism arrivals and thereby the Sri Lanka can enhance its economic growth.
This research investigates the co-movement and causality relationships between greenhouse gas emissions, energy consumption and economic growth for 16 Asian countries over the period 1990–2012. The empirical findings suggest that in the long run, bidirectional Granger causality between energy consumption, GDP and greenhouse gas emissions and between GDP, greenhouse gas emissions and energy consumption is established. A non-linear, quadratic relationship is revealed between greenhouse gas emissions, energy consumption and economic growth, consistent with the environmental Kuznets curve for these 16 Asian countries and a subsample of the Asian new industrial economy. Short-run relationships are regionally specific across the Asian continent. From the viewpoint of energy policy in Asia, various governments support low-carbon or renewable energy use and are reducing fossil fuel combustion to sustain economic growth, but in some countries, evidence suggests that energy conservation might only be marginal. PMID:29165399
The article is inspired by a book by Herman Daly: Ecological Economics and Sustainable Develpment (Danish ed. Nødvendighedens Økonomi). As income or GDP per capita grows the marginal benefit decreases, and it can actually reach a point where it turns negative, a situation Daly terms un-economic...... growth. At this level, it is of course time to stop the growth, a very beneficial action from a global warming point of view. Recognising the limitation of the environment calls for more equal distribution of wealth, and to avoid unemployment work should be shared too. This fits well with surveys showing...... that 73% of Danes would prefer to have mre leisure time rather than more incme. The article ends with the observation that it is not surprising that economist don't suggest to halt the economic growth, when they have probably not learned anything about how to manage the transition....
This research investigates the co-movement and causality relationships between greenhouse gas emissions, energy consumption and economic growth for 16 Asian countries over the period 1990-2012. The empirical findings suggest that in the long run, bidirectional Granger causality between energy consumption, GDP and greenhouse gas emissions and between GDP, greenhouse gas emissions and energy consumption is established. A non-linear, quadratic relationship is revealed between greenhouse gas emissions, energy consumption and economic growth, consistent with the environmental Kuznets curve for these 16 Asian countries and a subsample of the Asian new industrial economy. Short-run relationships are regionally specific across the Asian continent. From the viewpoint of energy policy in Asia, various governments support low-carbon or renewable energy use and are reducing fossil fuel combustion to sustain economic growth, but in some countries, evidence suggests that energy conservation might only be marginal.
Full Text Available This research investigates the co-movement and causality relationships between greenhouse gas emissions, energy consumption and economic growth for 16 Asian countries over the period 1990–2012. The empirical findings suggest that in the long run, bidirectional Granger causality between energy consumption, GDP and greenhouse gas emissions and between GDP, greenhouse gas emissions and energy consumption is established. A non-linear, quadratic relationship is revealed between greenhouse gas emissions, energy consumption and economic growth, consistent with the environmental Kuznets curve for these 16 Asian countries and a subsample of the Asian new industrial economy. Short-run relationships are regionally specific across the Asian continent. From the viewpoint of energy policy in Asia, various governments support low-carbon or renewable energy use and are reducing fossil fuel combustion to sustain economic growth, but in some countries, evidence suggests that energy conservation might only be marginal.
Florin Teodor BOLDEANU
Full Text Available The article aims to analyse the evolution of budgetary expenditures and their relationship with economic growth, especially in the EU countries and three non-EU countries - Switzerland, Norway and Iceland during 1991 - 2012. To test the link between government spending and economic growth the research used the United Nation Classification of the Functions of Government and three econometrical regression methods – ordinary least square, least squares dummy variable and the generalized method of moments. Statistical results for the 10 categories of expenditure have shown that economic affairs, environmental protection, recreation, culture and religion and social protection have a significant impact on economic growth. Also the recent economic crisis and the EU accession influenced the variation of GDP/capita.
Meltzer, Joshua [The Johns Hopkins University’s School of Advanced International Studies (United States); Steven, David (The Brookings Institution Center and the Center on International Cooperation at New York University (United States)); Langley, Claire (The Brookings Institution, Washington, DC (United States)
The paper outlines the strengths and weaknesses of the U.S. economic growth model, assesses its’ ability to respond to the key economic, environmental and social challenges currently facing the U.S. and proposes policies that if adopted would move the U.S. onto a more sustainable growth path. The paper provides scenarios of projected future growth trajectories, as well as recommendations for specific policies in key areas: employment, infrastructure, energy and fiscal rebalancing. To reach this goal this paper focuses on four areas for action: Increasing employment, which is the most urgent priority to accelerate recovery from the Great Recession, while addressing underlying structural issues that have led to a decade of poor economic outcomes for most citizens; Investing in the future, as the key marker of whether the United States is prepared to make farsighted decisions to improve education, build new infrastructure and increase innovation; Maximizing an increased energy endowment in a way that grows the economy, while reinforcing the trend towards reducing resource demand and reducing greenhouse gas emissions; and, Fiscal rebalancing, where the United States must insulate economic recovery from the process of fiscal reform while reducing and stabilizing debt over the long term. Finally, we argue that President Obama can re-energize America’s global leadership if he builds on a platform of domestic actions that enhance the sustainability of America’s society and economy.
Naiya, Ismaeel Ibrahim
The paper uses available data to compare and analyzes the relationships between structural change and economic growth in four OIC member countries (Indonesia, Malaysia, Nigeria and Turkey). The paper uses descriptive statistics to analyze and compare structural transformation in the study countries. It finds that Malaysia, Indonesia and Turkey succeeded achieving sustained economic growth and development because they were able to effectively transform their productive activities from low to ...
Zuniga, Allison F.; Turner, Mark; Rasky, Daniel; Loucks, Mike; Carrico, John; Policastri, Daniel
delivery and surface power generation, in partnership with industry; 2) incentivize industry to establish economical and sustainable lunar infrastructure services to support NASA missions and initiate lunar commerce; and 3) encourage creation of new space markets for economic growth and benefit. A phased-development approach was also studied to allow for incremental development and demonstration of capabilities needed to build a lunar infrastructure. This paper will describe the Lunar COTS concept goals, objectives and approach for building an economical and sustainable lunar infrastructure. It will also describe the technical challenges and advantages of developing and operating each infrastructure element. It will also describe the potential benefits and progress that can be accomplished in the initial phase of this Lunar COTS approach. Finally, the paper will also look forward to the potential of a robust lunar industrialization environment and its potential effect on the next 50 years of space exploration.
Bekhet, H. A.; Yasmin, T.
The present study investigates the relationship between economic growth and energy consumption by incorporating CO2 emissions, natural gas consumption and population in Malaysia. Annual data and F-bound test and granger causality have applied to test the existence of long run relationship between the series. The results show that variables are cointegrated for long run relationship. The results also indicate that natural gas consumption is an important contributing factor to energy demand and hence economic growth in case of Malaysia. The causality analysis highlights that the feedback hypothesis exists between economic growth and energy consumption. While, conservative hypothesis is validated between natural gas consumption and economic growth which implies that economic growth will push natural gas consumption policies in future. This study opens up new direction for policy makers to formulate a comprehensive natural gas policy to sustain environment for long span of time in case to achieve 11th MP targets.
Abhilash, P C; Dubey, Rama Kant; Tripathi, Vishal; Gupta, Vijai K; Singh, Harikesh B
Agrochemicals used to meet the needs of a rapidly growing human population can deteriorate the quality of ecosystems and are not affordable to farmers in low-resource environments. Here, we propose the use of plant growth-promoting microorganisms (PGPMs) as a tool for sustainable food production without compromising ecosystems services. Copyright © 2016 Elsevier Ltd. All rights reserved.
Angelopoulos et al. 2008). Based on this contention it is logical to conclude that government expenditure and government efficiency are complementary if countries aspire to achieve better economic growth by using government expenditure.
, governance and economic growth. It shows that sound public procurement practice and good governance are closely related and that they both have the common goal of development. Employing the Keynesian income-expenditure approach ...
Roxana Loubet-Orozco; Adela Morales-Parra
.... In that sense, the concept of human capital and its impact on economic growth, the possibilities of the state are analyzed to transform the development of human resources in high stock that promotes...
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.
Sandip SARKER; Arifuzzaman KHAN; Rezwan MAHMOOD
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...
Florentina Xhelili Krasniqi
Full Text Available The aim of this paper is to explore the effects of exports and other variables (foreign direct investment, remittances, capital formation, and labour force on economic growth in West Balkan countries (Albania, Kosovo, Macedonia, Montenegro, Bosnia and Herzegovina and Serbia. This study utilizes a strongly balanced panel data over the 2005-2015 period for Western Balkan countries using the ordinary least squares method (OLS, ie Pooled regression model to evaluate the parameters. The relationship between export and economic growth has turned to be statistically significant and positively related for the countries under the study. Results also indicate the statistically significant positive relationship between economic growth and other variables included in the model such is remittances, capital formation, and labor. The relationship between economic growth and foreign direct investment has turned out to be statistically insignificant and negatively related.
resulting from lending rate will increase/decrease the real sector with ... competitive and efficient markets tell us that financial openness should foster economic .... (GOVT/GDP) and investment to GDP ratio, and the population growth rate.
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.
Dam, Robert A
.... However, the domestic corporate share of GDP can never exceed 100 percent. Subject to numerous assumptions, the models presented here estimate that this source of corporate growth could be exhausted as early as the year 2032...
da Costa, Renato J. Lopes; António, Nélson J. Santos; Miguel, Maria Isabel
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,…
Elmslie, Bruce T.; Tebaldi, Edinaldo
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…
Among 63 countries studied, increases in standard of living during 1960-85 were positively related to hours of science education required in elementary school and negatively related to prevocational instructional time. In developed nations, positive national economic effects were also found for instructional time overall and language instruction…
Rafn, H. Jeffrey
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…
Full Text Available Coastal cities in China are challenged by multiple growth paths and strategies related to demands in the housing market, economic growth and eco-system protection. This paper examines the effects of conflicting strategies between economic growth and environmental protection on future urban scenarios in Ningbo, China, through logistic-regression-based cellular automata (termed LogCA modeling. The LogCA model is calibrated based on the observed urban patterns in 1990 and 2015, and applied to simulate four future scenarios in 2040, including (a the Norm-scenario, a baseline scenario that maintains the 1990–2015 growth rate; (b the GDP-scenario, a GDP-oriented growth scenario emphasizing the development in city centers and along economic corridors; (c the Slow-scenario, a slow-growth scenario considering the potential downward trend of the housing market in China; and (d the Eco-scenario, a slow-growth scenario emphasizing natural conservation and ecosystem protections. The CA parameters of the Norm- and Slow-scenarios are the same as the calibrated parameters, while the parameters of proximities to economic corridors and natural scenery sites were increased by a factor of 3 for the GDP- and Eco-scenarios, respectively. The Norm- and GDP-scenarios predicted 1950 km2 of new growth for the next 25 years, the Slow-scenario predicted 650 km2, and the Eco-scenario predicted less growth than the Slow-scenario. The locations where the newly built-up area will emerge are significantly different under the four scenarios and the Slow- and Eco-scenarios are preferable to achieve long-term sustainability. The scenarios are not only helpful for exploring sustainable urban development options in China, but also serve as a reference for adjusting the urban planning and land policies.
Although the persistent slowdown in the growth of per capita output has been observed in virtually all industrialized countries since the early 1970s, no persuasive theoretical explanation for this phenomenon has been given. This paper constructs a modified endogenous growth model that indicates the slowdown is part of the natural process of economic development. Specifically, the model predicts that each economy develops along a path characterized by Malthusian stagnation, economic take-off,...
The author argues that the preponderance of theoretical reasoning and empirical evidence suggests a positive first order relationship between financial development and economic growth. There is evidence that the financial development level is a good predictor of future rates of economic growth, capital accumulation, and technological change. Moreover, cross-country, case-style, industry level and firm-level analysis document extensive periods when financial development crucially affects the s...
Kestrim Avdimetaj; Mensur Morina
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 t...
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
The relationship between energy consumption and economic growth has attracted much interest in economic literature. The views on the direction of this relationship are divergent. Empirical evidence varies, depending on the sources and pattern of energy consumption of the economy examined. This paper investigated the ...
SIPHAMBE, H.K. (PROF.)
govern against corrupt practices, and the stability of the political environment. Empirical evidence shows ... rent seeking, corruption, and also generate high transaction costs which create economic inefficiencies ..... sector development and growth: Evidence from Malaysia‖, Journal of Development Economics, 84, 215-233.
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…
In this paper, the dynamic relationship between health expenditure and economic growth from 1980-2010 in Nigeria is examined – using the newly developed ARDL Bounds testing procedure and Granger causality test. The results suggest that there is a long-run relationship between health expenditure and economic ...
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.
Farhadi, Maryam; Ismail, Rahmah; Fooladi, Masood
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.
Full Text Available Agriculture is the backbone of Nigeria’s socioeconomic development. This paper investigates the impact of agricultural exports on economic growth in Nigeria using OLS regression, Granger causality, Impulse Response Function and Variance Decomposition approaches. Both the OLS regression and Granger causality results support the hypothesis that agricultural exports- led economic growth in Nigeria. The results, however, show an inverse relationship between the agricultural degree of openness and economic growth in the country. Impulse Response Function results fluctuate and reveal an upward and downward shocks from agricultural export to economic growth in the country. The Variance Decomposition results also show that a shock to agricultural exports can contribute to the fluctuation in the variance of economic growth in the long run. For Nigeria to experience a favourable trade balance in agricultural trade, domestic processing industries should be encouraged while imports of agricultural commodities that the country could process cheaply should be discouraged. Undoubtedly, this measure could drastically reduce the country’s overreliance on food imports and increase the rate of agricultural production for self-sufficiency, exports and its contribution to the economic growth in the country.
Full Text Available The main goal of this article is to find the relationship between public fiscal policy and economic growth. The article consist of a few parts. The first is an introduction, which creates the background for the analysis in the following sections. It shows the main point of view on public fiscal policy especially in the case of personal income tax and creates a framework for the analysis of the relationship between taxation and economic growth. The second part focuses on the relations between central government decisions on taxation and its influence on savings, investments and economic growth. In this part we will find selected analyses of the impact of taxes on economic growth based on the examples of OECD countries. Finally, the last part of the work is a study on fiscal level and tax system structures and economic growth. In this part the authors checks two points of view on taxation. The first is that a low level tax burden is conducive to economic growth, and the second emphasizes negative consequences of decreasing budget tax revenues. The article shows both theoretical and empirical points of view on taxation and influence of government taxation decisions on the economy.
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.
Full Text Available There is a constant attention paid in European Union to increasing the quality of life and the quality of services provided to citizens, to human development, sustainable development and economic growth. This paper highlights the importance of applying information and communication technology in education as one of the main pillars of a strong society, as it is responsible for staff training and hence for the increase of quality of services in all areas. Technological progress is reflected in education through the diversification of educational services and through the high quality of their provision to all actors implied in the educational process, either instructors or students. Everyone benefits from a permanently optimized environment with a constantly growing flexibility. The analysis conducted in the article aims to research the impact of information and communication technology on society through data series and meaningful graphical representations. Educational field represents one of the most important elements in the transformation of Europe into the most competitive and dynamic knowledge based economy in the world, which promotes a sustainable economic development, as the representatives of European Higher Education Area member countries publicly announced their intentions since 2003 in the Berlin Communique in Germany.
U.S. Environmental Protection Agency — The 2016 Recycling Economic Information (REI) Report aims to increase the understanding of the economic implications of material reuse and recycling. The report...
Full Text Available This paper examines the relationship between economic growth, higher education, unemployment and poverty using properties of time series variables while applying the Ordinary Least Squares (OLS method. Our study thus contributes to the existing literature by giving the first integrated approach to examine the four way linkages in the Tunisian background over the period 1990-2013. This paper holds that higher education can impact unemployment and graduate unemployment causes poverty which would affect economic growth. Our empirical results show that there is bi-directional causal relationship between per capita gross domestic product (GDP and poverty rate (POV and also between Number of graduate students (GRA and School enrollment tertiary education (ENR besides unidirectional causal relationship which running from Number of graduate students to Unemployment with tertiary education (UNP, from Higher education expenditure (EXP to poverty rate and from Unemployment with tertiary education to poverty rate. Our empirical results also verified the existence of positive effect of ENR, GRA and POV on economic growth, while, UNP and EXP have negative determining influence on economic growth with only GRA statistically significant. These empirical insights are of particular interest for the policy makers as they help build sound economic policies to sustain economic development and improve the higher educational quality.
This paper connects two strands of the literature on social trust by estimating the effects of trust on growth through a set of potential transmission mechanisms directly. It does so by modelling the process using a three-stage least squares estimator on a sample of countries for which a full data...... set is available. The results indicate that trust affects schooling and the rule of law directly. These variables in turn affect the investment rate (schooling) and provide a direct effect (rule of law) on the growth rate. The paper closes with a short discussion of the relevance of the findings....
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.
Ciesielska, Dorota; Kołtuniak, Marcin
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
Full Text Available Unemployment, in Turkey as well as in the whole, world poses huge economic problems. When considering Turkey's economy with a continued growth but a sustainable growth trend that cannot be provided and cannot be avoided in unemployment. The concepts of unemployment and economic growth in the macro and micro level are the subject of many studies. Economists look for solutions to these problems that are faced by each country; unemployment, unemployment causes, economic growths are all concepts that are discussed. Turkey's population growth rate is high, investment and capital accumulation at the desired level cannot be performed, the quality of labor as a lack of economic and political instability, informal employment, the existence of inter-regional disparities, the lack of sufficient support in agriculture contribute to the many reasons such as unemployment, the foundation raised as an issue is caused to the end. One of the biggest problems faced by Turkey's economy has long been the problems of unemployment. Many policies have been identified and implemented to combat unemployment have been studied. High rates of growth to reduce unemployment are among the most important of these policies. The relationship between unemployment and growth for the first time was examined by Arthur M. Okun (1962. The main objective of this study with the participation of Croatia in 2013 with 28 member countries of the European Union and in Turkey for the period 2001-2011 is to examine and test the relationship between economic growth and unemployment is variable. Analysis Breitung (2000, ADF Fisher and Levin, Lin and Chu (2002 panel unit root tests, Westerlund (2007 panel cointegration tests are used. Breitung (2000, ADF Fisher and Levin, Lin and Chu (2002 tests taken by the series of first differences were stagnant. In addition, error correction model established between unemployment and economic growth Hausman tests were performed, and long-term parameters have
Full Text Available Generally accepted in economic literature, the financial market has a positive impact on growth in a modern economy. Nevertheless, due to the global crises starting in 2008, a number of authors are questioning today about this assertion. Among them, there are authors which are attributing as initial impulse to the crisis an exaggerated expansion of financial market (and non-covered on the real side of economy. In this study, based on economic literature and empirical evidences, we are presentig few considerations regarding the development of financial market during last decades and its role on economic growth.
Brazil also has a higher proportion of women in the labour force- 59% compared to countries such as France (52%) or Britain (57%). But has Brazil's progressive social policy made growth more inclusive so that all women share in this remarkable transformation? Women's average monthly salary is only 65% of that of men.
Ulrich, D. R.; Chung, A. M.; Yan, C. S.; Mccreight, L. R.
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.
Using the framework of an endogenous growth model, this study analyzes the impact of public and private investment on economic growth in Namibia over the 1970–2005 periods. Cointegration and error correction modeling approaches were adopted. The results suggest that in addition to public and private investment ...
The role of human capital in the growth process of any nation is crucial. It is a major tool for poverty reduction. The main aim of this paper is to carry out an empirical investigation on the relationship between investment in education, health and economic growth in Nigeria, using time series data from 1982 to 2011. This paper ...
Ethiopia has been reporting double digit economic growth rates over the last decade, while at the same time being ranked as one of the impoverished nations in the world. Despite the 11.0 percent average annual real GDP growth rate since 2004, the Oxford Poverty and Human Development Initiative consistently ranks ...
It has been more than a decade since Ethiopia started reporting double digit economic growth rates. Based on the World Bank data for the period 2004 to 2014, Ethiopia's real GDP grew by an annual average rate of 11.0 percent and its real GDP per capita registered an impressive annual average growth rate of 8.1 percent ...
... expansionary monetary policy in Cameroon. This work therefore recommends guided expansionary monetary policy as an instrument for growth and development in Cameroon in particular and the CEMAC zone in general. Key words: Dynamic, Money Supply, Interest Rates, Economic growth, Co-integration and Inflation.
Dec 11, 2008 ... CEMAC zone in general. Key words: Dynamic, Money Supply, Interest Rates, Economic growth, Co-integration and Inflation. .... IR = Government Lending Rate and INFLA = Annual Inflation Growth Rate. means that either a right ... us what happens when any or all of the variables change. Equation (2.2) ...
per capita economic growth for Sub-Saharan Africa in a holistic framework using two-stage least squares (2SLS) regression model and dummy variables to capture the regional and income classifications. The results show that per capita GDP growth rate, public expenditure on education as percentage of GDP, net primary ...
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...
Poverty alleviation with economic growth strategy: Prospects and challenges in contemporary Nigeria. ... Journal of Social Development in Africa ... approaches to poverty alleviation in these countries is that they are determined largely by making a choice between growth-promoting policies and poverty-focused strategies.
Full Text Available AbstractTechnology in the globalization era is difficult to be avoided in daily life. This study aims to estimate the impact of technological growth on economic performance in Indonesia using a Total Factor Productivity (TFP method. The results indicate that technological growth in Indonesia during 1981-2012 is 0.87 percent, contributes up to 30.48 percent to economic growth. The results of econometric analysis suggest that technological growth will increase not only economic growth but also the unemployment rate, implying that technological growth in Indonesia creates jobs destruction than jobs creation.Keywords: Technological growth, TFP, economic growth, unemployment rateJEL classification number: O11, O47AbstrakTeknologi di era globalisasi sulit untuk dihindarkan dalam kehidupan sehari-hari. Penelitian ini bertujuan untuk mengestimasi dampak dari perkembangan teknologi pada kinerja ekonomi di Indonesia menggunakan metode Total Factor Productivity (TFP. Hasil penelitian menunjukkan bahwa perkembangan teknologi di Indonesia selama 1981-2012 adalah 0,87 persen, memberikan kontribusi hingga 30.48 persen terhadap pertumbuhan ekonomi. Hasil analisis ekonometrik menunjukkan bahwa perkembangan teknologi akan meningkatkan tidak hanya pertumbuhan ekonomi tetapi juga tingkat pengangguran, yang menyiratkan bahwa perkembangan teknologi di Indonesia menciptakan turunnya jumlah pekerjaan, bukannya menciptakan lapangan kerja.Keywords: Pertumbuhan teknologi, TFP, pertumbuhan ekonomi, tingkat pengangguranJEL classification number: O11, O47
With Nigeria adopting the import substitution industrialization policy in 1960, we apply cointegration test on time series data to estimate the long-run ... BOP constrained model as a suitable framework to explain Nigeria's long term growth and reinforces the opinion that external factors constrain Nigeria's economic growth.
Paul A. Lorah
A familiar version of the âjobs versus the environmentâ argument asserts that wilderness areas limit economic growth by locking up potentially productive natural resources. Analysis of the development paths of rural Western counties shows that this is unlikely: the presence of Wilderness is correlated with income, employment and population growth. Similarly, Wilderness...
Jul 8, 2013 ... Women make shea butter by hand in Tamale, Ghana. Supporting Inclusive Growth. In partnership with the United Kingdom's Department for International Development and The William and Flora Hewlett Foundation, IDRC is launching a call for reserach proposals on Growth and Economic Opportunities for ...
Kalakul, Sawitree; Malakul, Pomthong; Siemanond, Kitipat
The sustainable future of the world challenges engineers to develop chemical process designs that are not only technically and economically feasible but also environmental friendly. Life cycle assessment (LCA) is a tool for identifying and quantifying environmental impacts of the chemical product...... with other process design tools such as sustainable design (SustainPro), economic analysis (ECON) and process simulation. The software framework contains four main tools: Tool-I is for life cycle inventory (LCI) knowledge management that enables easy maintenance and future expansion of the LCI database; Tool...... and/or the process that makes it. It can be used in conjunction with process simulation and economic analysis tools to evaluate the design of any existing and/or new chemical-biochemical process and to propose improvement options in order to arrive at the best design among various alternatives...
Bilal, Usama; Cooper, Richard; Abreu, Francis; Nau, Claudia; Franco, Manuel; Glass, Thomas A
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.
Full Text Available This article seeks to determine some of the peculiarities of the economic growth in the countries from the Economic Community of West African States (ECOWAS. Thus, the study is based on the country approach and uses econometric regression tests. In fact, in the context of the determination of the real GDP per capita growth rate of the countries in this region during the period 1987-2014, the results obtained show that it is still weak and unstable. Moreover, the weak convergence that has only been observed beginning with 2008 feeds the hope that ECOWAS can truly improve its level of development despite the heterogeneous nature of the countries. In order to overcome these difficulties, improving the socio-economic performance through the growth rate of real GDP per capita represents, among others, a necessity in relation to economic policy decisions.
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.
Khan, Habib Nawaz; Razali, Radzuan B.; Shafei, Afza Bt.
The objectives of this paper is two-fold: First, to empirically investigate the effects of an enlarged number of healthy and well-educated people on economic growth in Malaysia within the Endogeneous Growth Model framework. Second, to examine the causal links between education, health and economic growth using annual time series data from 1981 to 2014 for Malaysia. Data series were checked for the time series properties by using ADF and KPSS tests. Long run co-integration relationship was investigated with the help of vector autoregressive (VAR) method. For short and long run dynamic relationship investigation vector error correction model (VECM) was applied. Causality analysis was performed through Engle-Granger technique. The study results showed long run co-integration relation and positively significant effects of education and health on economic growth in Malaysia. The reported results also confirmed a feedback hypothesis between the variables in the case of Malaysia. The study results have policy relevance of the importance of human capital (health and education) to the growth process of the Malaysia. Thus, it is suggested that policy makers focus on education and health sectors for sustainable economic growth in Malaysia.
Tahar Ammar Jouili
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.
Basore, Paul A.; Chung, Donald; Buonassisi, Tonio
The past decade's record of growth in the photovoltaics manufacturing industry indicates that global investment in manufacturing capacity for photovoltaic modules tends to increase in proportion to the size of the industry. The slope of this proportionality determines how fast the industry will grow in the future. Two key parameters determine this slope. One is the annual global investment in manufacturing capacity normalized to the manufacturing capacity for the previous year (capacity-normalized capital investment rate, CapIR, units $/W). The other is how much capital investment is required for each watt of annual manufacturing capacity, normalized to the service life of the assets (capacity-normalized capital demand rate, CapDR, units $/W). If these two parameters remain unchanged from the values they have held for the past few years, global manufacturing capacity will peak in the next few years and then decline. However, it only takes a small improvement in CapIR to ensure future growth in photovoltaics. Any accompanying improvement in CapDR will accelerate that growth.
In other words, the econometric analysis will be based on those six remittance receiving countries. The paper is then to review the empirical literature devoted to the impact of remittances on economic growth, in order, to identify empirically if there are significant relationships between remittances and growth in these countries. The results suggest that remittances have a positive impact on growth and that this impact increases at higher levels of remittances relative to GDP.
Ward, Michael R.; Zheng, Shilin
We contribute to the role of telecommunications infrastructure on economic growth in three ways. We separately examine fixed-line and mobile telephone subscription levels. We compare results across periods and regions that differ by the level of development. In addition, we develop a method designed to address endogeneity of telecommunications with respect to growth. We find that mobile services contribute much more to growth but that the effect diminishes as the provincial economy develops m...
Koi Nyen Wong
This paper attempts to explore the causality relationship between outward foreign direct investment (OFDI) and home country economic growth using Malaysia as a case. The main findings do not advocate the OFDI-led growth hypothesis. In order to promote OFDI-led growth, the home government should prepare the private sector for increasing competition in the era of globalization so that linkages can be forged with Malaysian multinationals, and to facilitate home sourcing for OFDI activities. Howe...
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.
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.
Podobnik, Boris; Baaquie, Belal E.; Bishop, Steven; Njavro, Djuro; Li, Baowen
In estimating how economic growth depends on various inputs, economists commonly use long periods of data encompassing both main extremes to fluctuations in the economy: recession and expansion. Here we focus on recession years because during expansion even countries with bad economic policies may experience large growth. Specifically, we study how growth depends on the proportion of public-sector workforce, p and competitiveness, quantified by the Global Competitiveness Index, GCI. For the 2008-2011 economic downturn and for 57 countries, we find that the growth rate of GDP per capita, g, decreases with p, and increases with ΔGCI. Further, more competitive countries attract more foreign direct investments per capita, I, than less competitive countries, where I ~ GCIα. We propose a production function, divided into the private and public sectors, where GDP depends on market capitalization, the public (private)-sector workforce, and competitiveness level, used to quantify the public sector efficiency.
Serritzlew, Søren; Sønderskov, Kim Mannemar; Svendsen, Gert Tinggaard
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....
Violetta Ruslanovna Shukhatovich
Full Text Available The article substantiates the relevance of sociological analysis of a phenomenon such as professional vocation. Professional vocation is considered a characteristic feature of human potential. The author proposes to study the phenomenon of vocation as part of non-economic factors in economic growth
Full Text Available Continual environmental degradation and an unfair distribution of environmental burdens and benefits are two great challenges for humanity. Economic growth is often taken for granted when planning for the future. However, it is often argued that maintaining economic growth conflicts with keeping human activities adjusted to ecological boundaries and finite resources, at least for the more-developed countries. With this paper, we present sustainability goals for building and planning in Sweden to be achieved by 2050 in a context of limited or even negative economic growth. These goals should ensure that all groups in society have sufficient resources and a good life within planetary boundaries. We select four goals in a participatory process: two environmental goals related to climate change and land use and two social goals related to welfare and participation. Our results show that achieving the environmental goals will require significant reductions of Sweden’s greenhouse gas (GHG emissions and land use compared to today’s levels. Regarding the social goals, these are, in many aspects, reasonably well fulfilled in Sweden today, although disparities remain between groups of citizens. The main challenge, however, is to ensure that these goals are fulfilled even within environmental limits and if economic growth should halt.
Athenia Bongani Sibindi
Full Text Available Increasingly remittances now constitute a great source of foreign currency inflows for many developing countries. In some instances remittances have outpaced the growth of foreign direct investment (FDI. Amongst others, remittances can be used as a vehicle of savings mobilisation as well as fostering the supply of credit by providing liquidity to the market. In this article we investigate the causal relationship between the remittances, financial development and economic growth in Lesotho for the period 1975 to 2010. We make use of per capita remittances, real per capita broad money supply and real per capita growth domestic product as the proxies for remittances, financial development and economic growth respectively. We then test for cointegration amongst the variables by applying the Johansen procedure and then test for Granger causality based on the vector error correction model (VECM. Our results confirm the existence of at least one cointegrating relationship and also indicate that the direction of causality runs from remittances to the economy without feedback. The results also suggest that financial development Granger causes economic growth without feedback which is consistent with ‘supply-leading’ growth hypothesis. The results also confirm a causal relationship running from financial development to remittances without feedback. The results also lend credence to the “complementarity’ hypothesis in that, remittances complement rather than substitute financial development in bringing about economic growth.
Full Text Available This article is interesting for businesses, including entrepreneurs and potential investors, as well as for the governmental organizations and public authorities. It provides both an evaluation of Moldova's position on the international socio-economic arena in context of globalization, and suggests action-points and recommendations potentially supporting the growth of the private sector, at the same time fighting poverty and enforcing sustainable economic growth. The purpose of the article is to investigate the influences and challenges of globalization, which, on the one hand, is a positive enabler of global economic development, yet on the other, is a proxy of growing inequality gap between developed and developing economies. Globalization limits the opportunities for qualitative economic growth for a number of developing countries, such as Republic of Moldova, that consequentially are trapped into the 'vicious circle' of poverty. Developing economies must find a way to survive, to restructure towards growth and to remain competitive. To do so they must innovate (technologically and otherwise, since they lack some of the key resources available to the developed industrial economies. One of the main conclusions of the paper suggests that in light of the forthcoming Fourth Industrial Revolution Moldova will have the possibility to ‘leapfrog’ through several stages of the structural ladder at a time entering the path towards qualitative economic growth. Thus, such nations as Moldova do have the potential to break out of the poverty circle and towards qualitative economic development. This particular study is based on the results of the analysis of both quantitative and qualitative indicators of growth of national and international relevance, allowing to track and interpret changes in the economic
Andrei, Jean Vasile; Mieila, Mihai; Panait, Mirela
Contemporary economies are strongly reliant on energy and analyzing the determining factors that trigger the changes in energy paradigm and their impact upon economic growth is a topical research subject. Our contention is that energy paradigm plays a major role in achieving the sustainable development of contemporary economies. In order to prove this the panel data methodology of research was employed, namely four panel unit root tests (LLC, IPS, F-ADF and F-PP) aiming to reveal the connections and relevance among 17 variables denoting energy influence on economic development. Moreover, it was introduced a specific indicator to express energy consumption per capita. Our findings extend the classical approach of the changes in energy paradigm and their impact upon economic growth and offer a comprehensive analysis which surpasses the practices and policy decisions in the field.
Jean Vasile Andrei
Full Text Available Contemporary economies are strongly reliant on energy and analyzing the determining factors that trigger the changes in energy paradigm and their impact upon economic growth is a topical research subject. Our contention is that energy paradigm plays a major role in achieving the sustainable development of contemporary economies. In order to prove this the panel data methodology of research was employed, namely four panel unit root tests (LLC, IPS, F-ADF and F-PP aiming to reveal the connections and relevance among 17 variables denoting energy influence on economic development. Moreover, it was introduced a specific indicator to express energy consumption per capita. Our findings extend the classical approach of the changes in energy paradigm and their impact upon economic growth and offer a comprehensive analysis which surpasses the practices and policy decisions in the field.
Edward J. Garrity
Full Text Available This paper reviews the major issues involved in Hardin’s  tragedy of the commons, written over 44 years ago, and examines whether these issues are still relevant today. We assert that this model still provides important insight to aid in the solution to our global problems. In particular, we maintain that the underlying issues of growth against limits and bounded rationality are still not adequately recognized and addressed; this underlies many of the reasons for our unsustainable world. Examples from fisheries management are used to examine potential solutions and reveal weaknesses in current approaches. We show how our current, restricted mental models promote social injustice and blind us to developing sustainable solutions. Both the neo-liberal economic view of business that directly seeks growth and the new sustainable development view that indirectly supports growth are leading our global economy in the wrong direction and away from prosperity and sustainability. Current thinking has not realized Hardin’s message that sustainability is of the class of no technology solution problems. We conclude with recommendations to radically advance a new world view and business paradigm.
Jeremy S. Brooks
Full Text Available In their 30-year update to Limits to Growth, Meadows et al. call for a vision of sustainable development that includes systemic change brought on by new perspectives on the purpose of development, new ways of measuring progress, and changes in social norms. Here, I discuss Meadows et al.’s work in the context of the literature on sustainable development and well-being as well as the development trajectory of Bhutan. I suggest that Bhutan’s development approach mirrors Meadows et al.’s recommendations and provides one model for sustainable development. The ideal of maximizing Gross National Happiness (GNH exemplifies Bhutan’s commitment to holistic development and dovetails with arguments about the shortcomings of approaches that emphasize economic growth. I provide examples of how GNH has been put into practice, describe how happiness is being measured, and discuss the emergence of social norms and a shared Bhutanese identity that may contribute to sustainable development. Bhutan’s development success suggests that an alternative to growth-centric development is viable. However, while Bhutan’s standard of living has increased, the country faces challenges, the most important of which may be their ability to manage rising consumption levels. Importantly, other nations have begun measuring well-being and considering similar development approaches.
Joseph, Siny; Namboodiri, Vinod; Dev, Vishnu Cherusola
.... Prior work with energy efficiency in mobile devices has primarily focused on the goal of maximizing battery life of these devices and not on the broader concept of environmentally sustainable mobile computing...
Rutz, D; van Eijck, J.A.J.; Faaij, A.P.C.
Many countries worldwide are increasingly engaging in the promotion of biomass production for industrial uses such as biofuels and bioproducts (chemicals, bioplastics, etc.). Until today, mainly biofuels were supported by European policies, but support for bioproducts is still lacking behind. Thus, also the public sustainability debate concentrated on biofuels, but so far not on bioproducts. Driven by the strong public debate on sustainability aspects, biofuels are confronted with many enviro...
Biadgilign, Sibhatu; Shumetie, Arega; Yesigat, Habtamu
Policy discussions and debates in the last couple of decades emphasized efficiency of development policies for translating economic growth to development. One of the key aspects in this regard in the developing world is achieving improved nutrition through economic development. Nonetheless, there is a dearth of literature that empirically verifies the association between economic growth and reduction of childhood undernutrition in low- and middle-income countries. Thus, the aim of the study is to assess the interplay between economic growth and reduction of childhood undernutrition in Ethiopia. The study used pooled data of three rounds (2000, 2005 and 2010) from the Demographic and Health Surveys (DHS) of Ethiopia. A multilevel mixed logistic regression model with robust standard errors was utilized in order to account for the hierarchical nature of the data. The dependent variables were stunting, underweight, and wasting in children in the household. The main independent variable was real per capita income (PCI) that was adjusted for purchasing power parity. This information was obtained from World Bank. A total of 32,610 children were included in the pooled analysis. Overall, 11,296 (46.7%) [46.0%-47.3%], 8,197(33.8%) [33.2%-34.4%] and 3,175(13.1%) [12.7%-13.5%] were stunted, underweight, and wasted, respectively. We found a strong correlation between prevalence of early childhood undernutrition outcomes and real per capita income (PCI). The proportions of stunting (r = -0.1207, peconomic growth substantially reduced stunting [β = -0.0016, SE = 0.00013, pEconomic growth reduces child undernutrition in Ethiopia. This verifies the fact that the economic growth of the country accompanied with socio-economic development and improvement of the livelihood of the poor. Direct nutrition specific and nutrition sensitive interventions could also be recommended in order to have an impact on the massive reduction of childhood undernutrition in the country.