scholarly journals The impact of inward FDI on output growth volatility: a country-sector analysis

2021 ◽  
pp. 100063
Author(s):  
Isaac Mensah ◽  
Emmanuel Kwasi Mensah
Keyword(s):  
Output Growth ◽  
Sector Analysis ◽  
The Impact ◽  
Growth Volatility

scholarly journals Output Growth Volatility and Remittances: The Case of ECOWAS

2018 ◽  
Vol 6 (2) ◽  
pp. 23
Author(s):  
Deekor Leelee Nwibari ◽  
Gbanador Clever A.
Keyword(s):  
Generalized Method Of Moments ◽  
Well Being ◽  
Output Growth ◽  
Set Covering ◽  
Annual Data ◽  
Output Volatility ◽  
Data Set ◽  
Left Behind ◽  
The Impact ◽  
Growth Volatility

The study on output growth volatility and remittances: the case of ECOWAS is to determine the impact of remittances on output growth volatility. To achieve this, the study adopts the theory of altruism which posits that the migrant derives a positive utility from the well-being of the family left behind. A panel annual data set covering 15 remittances recipient ECOWAS member nations for the period ranging from 1995 to 2015 were utilized. The study utilizes a panel system Generalized Method of Moments (GMM) technique and both the static and dynamic panel estimation approaches to examine the impact of remittances on growth volatility. Results show that remittances appear to be inducing output volatility in ECOWAS member countries. As a result, the study suggests among others, the encouragement of policies that will foster increasing influx of remittances to the region by the concern authorities in order to stabilize volatility of any form in the region.

Output growth volatility, remittances and institutions

2015 ◽  
Vol 14 (3) ◽  
pp. 190-203 ◽  
Author(s):  
Kazeem Bello Ajide ◽  
Ibrahim D. Raheem ◽  
Oluwatosin Adeniyi
Keyword(s):  
Output Growth ◽  
Method Of Moment ◽  
Data Set ◽  
Research Attention ◽  
Content Type ◽  
The Impact ◽  
Growth Volatility ◽  
Practical Implications ◽  
Governance Reforms

Purpose – The purpose of this paper is to empirically examine the role of institutions on the remittances–output growth volatility relationship. Design/methodology/approach – The data set of this paper is limited to 71 remittances recipient countries. In an attempt to deal with endogeneity issues, the paper adopts the use of system generalised method of moment (GMM). Findings – First, in consonance with earlier studies, the growth volatility reducing influence of remittances flows was established. Second, unlike the extant literature, the growth volatility reduction potential of remittances was found to be more pronounced in the presence of well-functioning institutions. Finally, the interaction of remittances with our six institutional quality measures showed that growth volatility reduced considerably with better institutions. Practical implications – In terms of policy, remittances recipient countries need to simultaneously pursue economic and governance reforms. Both of these will enhance the counter-cyclicality of remittances and possibly other capital flows. Originality/value – Substantial efforts have been devoted to investigating the impact of remittances on output growth volatility, while very little research attention has been devoted to analysing the impact of institutions on the remittances–output growth volatility nexus.

The Effects of Oil Prices Changes on Output Growth and Inflation: Evidence from Turkey

2013 ◽  
Vol 5 (11) ◽  
pp. 730-739 ◽  
Author(s):  
Pelin ÖGE GÜNEY
Keyword(s):  
Time Series Data ◽  
Output Growth ◽  
Oil Price ◽  
Series Data ◽  
Negative Effects ◽  
Price Changes ◽  
Asymmetric Effects ◽  
Price Increases ◽  
Causality Tests ◽  
The Impact

This paper investigates the effects of oil price changes on output and inflation for the case of Turkey using monthly time series data for the period 1990:1–2012:3. Recent studies suggest that oil price changes may have asymmetric effects on the macroeconomic variables. To account for asymmetric effects, we decompose oil price changes into positive and negative parts following Hamilton (1996). Our results show that while oil price increases have clear negative effects on output growth, the impact of oil price decline is insignificant. Similarly, oil price increases have positive and significant effects on inflation. However, oil price declines have not a significant effect on inflation. The Granger causality tests also support these results.

Economic Growth and Foreign Workers in ASEAN and Singapore

2012 ◽  
Vol 11 (3) ◽  
pp. 114-136 ◽  
Author(s):  
Shandre Mugan Thangavelu
Keyword(s):  
Open Economy ◽  
Wage Gap ◽  
Small Open Economy ◽  
Output Growth ◽  
Foreign Workers ◽  
Domestic Economy ◽  
Unskilled Workers ◽  
Market Trends ◽  
State Growth ◽  
The Impact

This paper studies the trends of foreign immigrants in Asia and their effect on the growth of the Singapore economy. The paper also discusses the key labor market trends and the rationale for foreign workers in a small open economy like Singapore. Further, the paper highlights key simulations of the impact of foreign immigrants on output growth and wage gap for the Singapore economy by using Thangavelu's (2011) dynamic general equilibrium model. The study accounts for the flow of skilled and unskilled foreign workers on (a) steady-state growth; (b) the wage gap between the skilled and unskilled workers; and (c) innovation capabilities of the domestic economy. Further, the model also accounts for the contribution of immigrants on the welfare of the domestic economy through the immigration surplus that will accrue to the domestic economy.

Human capital accumulation, income distribution, and economic growth: a demand-led analytical framework

2021 ◽  
Vol 9 (3) ◽  
pp. 319-336
Author(s):  
Gilberto Tadeu Lima ◽  
Laura Carvalho ◽  
Gustavo Pereira Serra
Keyword(s):  
Human Capital ◽  
Capital Accumulation ◽  
Analytical Framework ◽  
Output Growth ◽  
Human Capital Accumulation ◽  
Capital Utilization ◽  
Tax Rate ◽  
Long Run ◽  
The Impact ◽  
Long Run Equilibrium

This paper incorporates human capital accumulation through provision of universal public education by a balanced-budget government to a demand-driven analytical framework of functional distribution and growth of income. Human capital accumulation positively impacts on workers’ productivity in production and their bargaining power in wage negotiations. In the long-run equilibrium, a rise in the tax rate (which also denotes the share of output spent in human capital formation) lowers the pre- and after-tax wage share and physical capital utilization, and thus raises (lowers) the output growth rate when the latter is profit-led (wage-led). The impact of a higher tax rate on the employment rate (which also measures human capital utilization) in the long-run equilibrium is negative (ambiguous) when output growth is wage-led (profit-led). In any case, the supply of higher-skilled workers does not automatically create its own demand.

The Impact of Inflation Uncertainty on Output Growth and Inflation in Thailand*

2011 ◽  
Vol 25 (3) ◽  
pp. 291-307 ◽  
Author(s):  
Komain Jiranyakul ◽  
Timothy P. Opiela
Keyword(s):  
Output Growth ◽  
Inflation Uncertainty ◽  
The Impact

scholarly journals Patterns of Interrelationships between Inflation, R&D, Innovation, and Economic Growth: Evidence from Central and Eastern European Countries

2020 ◽  
Vol 22 (2) ◽  
pp. 5-33
Author(s):  
Ljubivoje Radonjić ◽  
◽  
Nevena Veselinović ◽  
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Primary Objective ◽  
Output Growth ◽  
European Countries ◽  
Eastern European ◽  
Innovation Activities ◽  
Private And Public ◽  
Eastern European Countries ◽  
The Impact

The primary objective of the article is to examine the nexus between inflation, R&D, patents, and economic growth within a group of Central and Eastern European countries (CEECs). The examination is conducted in two parts. First, the impact of total R&D expenditures on economic growth is observed, as well as the influence of growth on private and public R&D investments. Second, the conversion from private and public R&D investment to innovation, measured by the number of patents, is observed. Throughout the analysis, economic growth and inflation are representative of macroeconomic stability. The outcomes of the panel auto-regressive distributed lag estimation indicate that total R&D expenditures are essential and positively significant for economic growth in the observed countries. The results also show that output growth has a remarkably positive impact on generating private R&D expenditures. Such an influence is also found, but at a weaker level, in the case of public R&D expenditures. In this part of the analysis, inflation has demonstrated a harmful influence on R&D expenditures. The results of the second part indicate that public and private R&D expenditures, at a significant level, generate innovation activities, while the impact of inflation has proven to be unimportant.

INTERNATIONAL OUTPUT AND INFLATION UNCERTAINTY AND THEIR IMPACT ON COUNTRIES' MACROECONOMIC PERFORMANCE. EVIDENCE FROM A DYNAMIC FACTOR GARCH-IN-MEAN MODEL

2018 ◽  
Vol 22 (5) ◽  
pp. 1113-1133 ◽  
Author(s):  
Tino Berger ◽  
Sibylle Grabert
Keyword(s):  
Factor Model ◽  
Output Growth ◽  
Dynamic Factor ◽  
International Level ◽  
Macroeconomic Performance ◽  
Inflation Uncertainty ◽  
Inflation Rates ◽  
Oil Crisis ◽  
The Impact ◽  
Country Specific

We identify international output and inflation uncertainty and analyze their impact on individual countries' macroeconomic performance. Output and inflation uncertainty on an international level is measured through the conditional variances of common factors in inflation and output growth, estimated from a bivariate dynamic factor model with GARCH errors. The impact of international and country-specific uncertainty is analyzed by including the conditional variances as regressors. We find increases in uncertainty during the first and second oil crisis, the 1980s and 1990s recessions as well as the recent Great Recession to be confined to the international level. The effect of international uncertainty results to be highly significant and unambiguously negative on countries' output growth and inflation rates whereas the impact of country-specific uncertainty is very mixed.

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