scholarly journals The role of diversity and tolerance in economic development

2021 ◽  
Author(s):  
Witold Kwasnicki
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Industrial Development ◽  
Evolutionary Process ◽  
Evolutionary Model ◽  
Industry Development ◽  
Radical Innovations ◽  
Long Run

AbstractThis paper presents an evolutionary model of industry development, and uses simulations to investigation the role of diversity and heterogeneity in firms’ behaviour, and hence industrial development. The simulations suggest that economic growth is increased with greater variety, in the sense of the evolutionary process approaching the equilibrium faster and also, in the long run, moving faster from one equilibrium to a new, more advanced, equilibrium. This occurs due to higher variety caused by a more tolerant environment, and due to the higher probability of emergence of radical innovations.

Financing a new nation: a comparative study of the financial roots of the USA and Gran Colombia

2012 ◽  
Vol 7 (1) ◽  
pp. 3-26
Author(s):  
John Muse-Fisher
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Comparative Study ◽  
Reciprocal Relationship ◽  
Long Run ◽  
The Us ◽  
The Usa ◽  
Different Shapes ◽  
New Nation

AbstractThe structure of the USA and the countries that emerged from the remains of Gran Colombia ultimately took different shapes from those suggested in the era immediately after independence, particularly in regard to the extent of each state's fiscal and monetary capacities. This article applies Oszlak's model of ‘stateness’ to the early financial and monetary histories of the USA (roughly 1776–93) and Gran Colombia (roughly 1819–35) to assess and compare the role of financial and monetary capacities in long-run state consolidation and economic development. The US was ultimately more successful than Gran Colombia at adapting its financial and monetary capacities and institutions, creating better conditions for the attainment of ‘stateness’, stronger economic growth, and greater endurance as a national entity. The comparison ultimately suggests a reciprocal relationship between the legitimization of a state's authority (that is, state consolidation) and the development and solidification of fiscal and monetary capacities.

scholarly journals THE MEDIATOR ROLE OF GLOBAL CONNECTEDNESS IN THE RELATIONSHIP BETWEEN LOGISTICS PERFORMANCE AND HUMAN DEVELOPMENT

2019 ◽  
Vol 6 (4) ◽  
pp. 969-980 ◽  
Author(s):  
Ümit ÇELEBİ ◽  
Mustafa Emre CİVELEK
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Human Development ◽  
Health Indicators ◽  
Well Being ◽  
Education And Health ◽  
Long Run ◽  
Mediator Role ◽  
The Relationship

Economic growth indicates a decent standard of living but it falls short of explaining human well-being and economic development in the long run. Human development, by being a broader concept, includes not only economic growth but also education and health indicators. It, therefore, better indicates longer term economic development and human well-being of a country. Number of studies already point to a significant relationship between logistics performance and economic growth. This research investigates whether a similar relationship between logistics performance and human development exists and the mediator role of global connectedness, which is related to both concepts.  The purpose of this study, therefore, is to examine the mediator role of global connectedness in the relationship between logistics performance and human development. The results of the analysis show that global connectedness plays a partial mediator role in the relationship between logistics performance and human development.

Enhancing Economic Growth and Government Revenue Generation in Nigeria: The Role of Diaspora Remittances

2021 ◽  
pp. 003464462110256
Author(s):  
Dal Didia ◽  
Suleiman Tahir
Keyword(s):  
Economic Growth ◽  
Parameter Estimates ◽  
Gross Domestic Product Growth ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Short Run ◽  
The Empirical Analysis

Even though remittances constitute the second-largest source of foreign exchange for Nigeria, with a $24 billion inflow in 2018, its impact on economic growth remains unclear. This study, therefore, examined the short-run and long-run impact of remittances on the economic growth of Nigeria using the vector error correction model. Utilizing World Bank data covering 1990–2018, the empirical analysis revealed that remittances hurt economic growth in the short run while having no impact on economic growth in the long run. Our parameter estimates indicate that a 1% increase in remittances would result in a 0.9% decrease in the gross domestic product growth rate in the short run. One policy implication of this study is that Nigeria needs to devise policies and interventions that minimize the emigration of skilled professionals rather than depending on remittances that do not offset the losses to the economy due to brain drain.

scholarly journals Tourism Industry and Economic Growth Nexus in Beijing, China

Economies ◽  
2019 ◽  
Vol 7 (1) ◽  
pp. 25 ◽  
Author(s):  
Yang Songling ◽  
Muhammad Ishtiaq ◽  
Bui Thi Thanh
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Strong Support ◽  
Growth Index ◽  
Strong Relationship ◽  
Tourism Industry ◽  
Var Model ◽  
Long Run ◽  
The Relationship ◽  
Beijing China

In the developing economy, tourism is the most visible and steadiest growing facade. Tourism is considered one of the rapidly increasing elements for economic development from the last two decades. Therefore, the proposed study used vector autoregression (VAR) model, error correction model (ECM), and the Granger causality to check the relationship between the tourism industry and economic growth based on the data of the Beijing municipal bureau of statistics from 1994 to 2015. Gross domestic product (GDP) is used as a replacement variable for the economic growth index, while internal tourism revenue is used as a tourism industry indicator. The study supports the tourism-led growth hypothesis proposed in the existing literature in a different survey of tourism and economic development. The results show that there is a strong relationship in the tourism industry and economic growth in the context of Beijing, and at the same time, tourism creates a more significant increase in long run local real economic accomplishments. The results of the VAR model confirm that in the long run, Beijing’s economic growth is affected by domestic tourism, while the ECM model shows unidirectional results in the short term. Similarly, there is a one-way causal relationship between the tourism industry and economic growth in Beijing, China. The empirical results are in strong support of the concept that tourism causes growth.

scholarly journals Non-bank financial institutions and economic growth: Evidence from Africa’s three largest economies

2017 ◽  
Vol 20 (1) ◽  
Author(s):  
Ronald Rateiwa ◽  
Meshach J. Aziakpono
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Financial Institutions ◽  
Time Series Data ◽  
Bank Lending ◽  
Series Data ◽  
The Sustainable Development ◽  
Long Run ◽  
The Relationship

Background: In order for the post-2015 world development agenda – termed the sustainable development goals (SDGs) – to succeed, there is a pronounced need to ensure that available resources are used more effectively and additional financing is accessed from the private sector. Given that traditional bank lending has slowed down, the development of non-bank financing has become imperative. To this end, this article intends to empirically test the role of non-bank financial institutions (NBFIs) in stimulating economic growth.Aim: The aim of this article is to empirically test the existence of a long-run equilibrium relationship between economic growth and the development of NBFIs, and the causality thereof.Setting: The empirical assessment uses time-series data from Africa’s three largest economies, namely, Egypt, Nigeria and South Africa, over the period 1971–2013.Methods: This article uses the Johansen cointegration and vector error correction model within a country-specific setting.Results: The results showed that the long-run relationship between NBFI development and economic growth is relatively stronger in Egypt and South Africa, than in Nigeria. Evidence in respect of Nigeria shows that such a relationship is weak. The nature of the relationship between NBFI development and economic growth in Egypt is positive and significant, and predominantly bidirectional. This suggests that a virtuous relationship between NBFIs and economic growth exists in Egypt. In South Africa, the relationship is positive and significant and predominantly runs from NBFI development to economic growth, implying a supply-leading phenomenon. In Nigeria, the results are weak and mixed.Conclusion: The study concludes that in countries with more developed financial systems, the role of NBFIs and their importance to the economic growth process are more pronounced. Thus, there is need for developing policies targeted at developing the NBFI sector, given their potential to contribute to economic growth.

The Role of Entrepreneurial Performance in Supporting Economic Development of Countries: An Empirical Approach

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Valentina Diana Rusu ◽  
Angela Roman
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Social Progress ◽  
Entrepreneurial Performance ◽  
Panel Data Estimation ◽  
Positive Effects ◽  
National Competitiveness ◽  
Key Factor ◽  
Future Economic Development

Abstract Entrepreneurship is recognized as one of the factors stimulating economic growth and increasing economic competitiveness. In addition, the Europe 2020 Strategy has focused its attention on entrepreneurship as a key factor of economic growth, social progress, and employment. In this context, our study examines the role of entrepreneurial performance for sustaining the development of countries, focusing on a sample of European countries. We attempt to reveal if increasing entrepreneurial performance would have significant influence on improving the economic position of countries and their future economic development. Starting from the OECD-Eurostat Entrepreneurship Indicators Programme we use a set of entrepreneurial performance indicators as independent variables and examine to what extent they can influence competitiveness and economic growth, seen as dependent variables of the models. We focus on a period of 10 years (2008–2017) and we apply panel-data estimation techniques. Because the period considered includes the period of the last international financial crisis, we also include in our analysis a dummy variable. Our results emphasize that the changes in entrepreneurial performance play a significant role in enhancing national competitiveness and economic growth. Our findings contribute to the expansion of literature in the field by providing evidence on the correlation of indicators that measure entrepreneurial performance with national competitiveness and economic growth. Moreover, our findings point out the need of the policy makers to adopt measures and policies that help and stimulate entrepreneurs to become more performant because they can generate positive effects to the economy as a whole.

International Trade and Economic Performance in Tanzania: Further Evidence

2021 ◽  
pp. 1-17
Author(s):  
Ally A. L. Kilindo
Keyword(s):  
Economic Growth ◽  
International Trade ◽  
Economic Performance ◽  
Trade Restrictions ◽  
Correction Model ◽  
Spurious Regression ◽  
Long Run ◽  
Reform Period ◽  
Manufactured Goods

Abstract The study investigated the role of international trade in economic performance in Tanzania for the post reform period, from 1980 to 2018. International trade is measured by disaggregated imports and exports while economic performance is measured by GDP growth. Exports are disaggregated into manufactured goods and non-manufactured goods while imports are disaggregated into capital goods and intermediate goods. To obtain robust non-spurious regression results, Dickey-Fuller (D-F) and Phillips-Peron (PP) Unit Root tests were performed. Johansen Co-integration tests were employed to investigate long-run relationships between export, imports and economic growth. The Johansen test suggested a long-run relationship between international trade and its components and economic development. In addition, the Error Correction Model (ECM) results further supported a long-run relationship between international trade and economic growth in Tanzania. This calls for further opening of the economy and further liberalisation of trade restrictions.

Efficiency Driven Effect of Education in China: The Perspective of Global Competitiveness and Graduate Education

2021 ◽  
Vol 1 (1) ◽  
pp. 36-43
Author(s):  
Jia Liu ◽  
Lun Li
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Economic Development ◽  
Practical Significance ◽  
Education Policies ◽  
Global Competitiveness ◽  
Higher Education Policies ◽  
Level Of Economic Development ◽  
Education In China

Capital, natural resources, technology and education are often considered to be the most important factors in improving the level of economic development. China is in the "efficiency-driven" stage of economic development. There are objective laws in the development of education level and economic growth, but they interact with each other. Economic growth provides the foundation and necessary conditions for the development of education. At the same time, the role of education in promoting economic growth is also very obvious. Based on the perspective of postgraduate training, this paper studies the role of education in economic efficiency-driven, through the study of theory, data collection and empirical analysis, combined with the development characteristics of China's higher education, and compares China's and US higher education policies to guide China's higher education. The development of education, and then promote the transformation of China into the "innovation-driven" stage, has certain theoretical and practical significance.

Exploration of Role of Economic Globalization on Human Longevity

2021 ◽  
Vol 3 (2) ◽  
pp. 223-239
Author(s):  
Bakhtawar Ijaz ◽  
Noman Arshed ◽  
Zamin Abbas ◽  
Uzma Hanif ◽  
Kamran Hameed
Keyword(s):  
Economic Growth ◽  
Social Development ◽  
Quadratic Function ◽  
Economic Globalization ◽  
Human Longevity ◽  
Kuznets Curve ◽  
Long Run ◽  
Recent Developments ◽  
Opening Up

Recent developments which were coined to the opening up of borders have attracted interest of many researchers from many disciplines. A lot of work can be observed regarding the role of globalization / internationalization on economic growth and social development, this study specifically explores the implications of globalization on the ultimate goal that is life longevity. Adapting from the Kuznets curve, this study proposed a quadratic function of economic globalization and life longevity. The results using panel the ARDL model for the SAARC region, it can be seen that expansion of trade globalization de jure and management of financial globalization de facto and de jure may help them to increase longevity in the long run.

scholarly journals SARS-CoV-2 Spike Affinity and Dynamics Exclude the Strict Requirement of an Intermediate Host

2021 ◽  
Author(s):  
Matteo Castelli ◽  
Luigi Scietti ◽  
Nicola Clementi ◽  
Mattia Cavallaro ◽  
Silvia Faravelli ◽  
...  
Keyword(s):  
Intermediate Host ◽  
Receptor Binding ◽  
Animal Species ◽  
Evolutionary Process ◽  
Evolutionary Model ◽  
Model Based ◽  
Rhinolophus Affinis ◽  
Strict Requirement ◽  
Spike Dynamics

SARS-CoV-2 proximal origin is still unclear, limiting the possibility of foreseeing other spillover events with pandemic potential. Here we propose an evolutionary model based on the thorough dissection of SARS-CoV-2 and RaTG13 - the closest bat ancestor - spike dynamics, kinetics and binding to ACE2. Our results indicate that both spikes share nearly identical, high affinities for Rhinolophus affinis bat and human ACE2, pointing out to negligible species barriers directly related to receptor binding. Also, SARS-CoV-2 spike shows a higher degree of dynamics and kinetics optimization that favors ACE2 engagement. Therefore, we devise an affinity-independent evolutionary process that likely took place in R. affinis bats and limits the eventual involvement of other animal species in initiating the pandemic to the role of vector.

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