The role of international tourism in the Maldives.

2021 ◽  
pp. 132-148
Author(s):  
Rajasundram Sathiendrakumar ◽  
Zameelah Khan Jaffur ◽  
Boopen Seetanah
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Tourism Development ◽  
International Tourism ◽  
Tourism Planning ◽  
Full Effect ◽  
Short Run ◽  
Dynamic Time ◽  
The Impact

Abstract This chapter considers the development of tourism in the Maldives and delves into tourism planning and promotion since the 1970s. It also empirically investigates the impact of tourism on economic growth in the Maldives from 1995 to 2016 in both static and dynamic time-series analysis settings. Both the static and dynamic regression results depicted a positive and quite sizeable relationship between tourism and economic growth. It is noteworthy that the analysis could not confirm any relationship in the short run, suggesting that tourism development has its full effect on the economy with time.

Tourism development and its impact on economic growth in Pakistan.

2021 ◽  
pp. 117-131
Author(s):  
Sheereen Fauzel ◽  
Zameelah Khan Jaffur ◽  
Boopen Seetanah
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Time Series Analysis ◽  
Tourism Development ◽  
The Self ◽  
Vector Autoregressive ◽  
Long Run ◽  
Dynamic Time ◽  
The Impact ◽  
Growth Hypothesis

Abstract This chapter discusses in the first instance the development of tourism in Pakistan, delving into the government's support of it and its potential as well as the challenges of the industry. The chapter subsequently investigates the impact of tourism development on economic growth in Pakistan over the period 1980 to 2018 using a dynamic time-series analysis, namely a vector autoregressive framework, which allows for the possibility of endogeneity and causality issues. The results proved the existence of the tourism-led growth hypothesis and that tourism development has contributed to economic growth in the long run; perhaps not as much as it could have given the potential of this sector. A bidirectional causality is also reported between tourism development and economic growth, confirming the self-reinforcing nature of the tourism-growth nexus.

scholarly journals Political Stability and its Impact on Economic Growth of Pakistan (1988-2018): A Time Series Analysis

2020 ◽  
Vol 6 (1) ◽  
pp. 273-282
Author(s):  
Majid Hussain Phul ◽  
Muhammad Saleem Rahpoto ◽  
Ghulam Muhammad Mangnejo
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Time Series Data ◽  
Political Stability ◽  
Series Data ◽  
Explanatory Variables ◽  
Long Run ◽  
Short Run ◽  
The Impact ◽  
Positive Effect

This research paper empirically investigates the outcome of Political stability on economic growth (EG) of Pakistan for the period of 1988 to 2018. Political stability (PS), gross fixed capital formation (GFCF), total labor force (TLF) and Inflation (INF) are important explanatory variables. Whereas for model selection GDPr is used as the dependent variable. To check the stationary of time series data Augmented Dickey Fuller (ADF) unit root (UR) test has been used,  and whereas to find out the long run relationship among variables, OLS method has been used. The analysis the impact of PS on EG (EG) in the short run, VAR model has been used. The outcomes show that all the variables (PS, GFCF, TLF and INF) have a significantly positive effect on the EG of Pakistan in the long run period. But the effect of PS on GDP is smaller. Further, in this research we are trying to see the short run relationship between GDP and other explanatory variables. The outcomes show that PS does not have such effect on GDP in the short run analysis. While GFCF, TLF and INF have significantly positive effect on GDP of Pakistan in the short run period.

scholarly journals Are some taxes better for growth in Pakistan? A time series analysis

2018 ◽  
Vol 45 (10) ◽  
pp. 1439-1452 ◽  
Author(s):  
Kashif Munir ◽  
Maryam Sultan
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
International Trade ◽  
Sales Tax ◽  
Tax Base ◽  
Content Type ◽  
Long Run ◽  
Indirect Taxes ◽  
Short Run ◽  
The Impact

Purpose The purpose of this paper is to analyze the impact of taxes on economic growth in the long run as well as in the short run. Design/methodology/approach The study uses simple time series model, where real GDP is dependent variable and different forms of taxes are explanatory variables under ARDL framework from 1976 to 2014 at annual frequency for Pakistan. Findings Direct taxes have positive relation with economic growth in the long run. Sales tax, tax on international trade (tariffs) and other indirect taxes have positive impact on economic growth of Pakistan in the long run as well as in the short run. However, sales tax and other indirect taxes impact negatively on economic growth in the short run after one year because people realize decline in their real income. Practical implications Government should increase direct taxes by increasing tax base. Indirect taxes usually indicate negative impact after one and two years; therefore, government should decrease its reliance on indirect taxes. Government should promote tax awareness among the people which increase the tax morale of people and increase the tax base. Originality/value Taxes are disaggregated into direct and indirect taxes, while indirect taxes have been further disaggregated into excise duty, sales tax, surcharges, tax on international trade and other indirect taxes. This study provides useful insight for policy makers in designing taxes and their effect on growth.

Foreign inflows and economic growth in Pakistan: some new insights

2020 ◽  
Vol 13 (3) ◽  
pp. 97-113
Author(s):  
Muhammad Tahir ◽  
Ahmad Ali Jan ◽  
Syed Quaid Ali Shah ◽  
Md Badrul Alam ◽  
Muhammad Asim Afridi ◽  
...  
Keyword(s):  
Economic Growth ◽  
Employment Level ◽  
Content Type ◽  
Significance Level ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
External Sources ◽  
The Impact

Purpose The purpose of this paper is to explore the contending role of important external inflows on the economic growth of Pakistan economy. The main purpose behind focusing on Pakistan is that it is receiving significant inflows from different international sources such as International Monetary Fund, World Bank and Asian Development Bank. Design/methodology/approach The study adopted the autoregressive distributed lag cointegration approach for the purpose of exploring the long-run cointegrating relationship among the variables. As Pakistan Government had been implementing some major liberalization policies during 1990s, data from 1976 to 2018 is used to estimate the specified models to reflect the impact of the surge of foreign inflows occurring from that time. In addition, error correction model is estimated for examining the short-run relationships. Findings The findings revealed the significant role played by different inflows in accelerating the economic growth. According to results, in the long run, all inflows, for example, Foreign direct investment (FDI), debt, official developdment assistance and remittances, have influenced significantly and positively the economic growth. The two control variables such as inflation and employment level included in the model have also played their expected role in the growth process. In the short run, some of the variables such as remittances, FDI and inflation rate have lost their significance level while for debt, aid and employment level, the signs of their coefficients become reversed. Practical implications Based on the findings, the study suggests the policymakers of Pakistan economy to liberalize the economy and attract more inflows from the external sources to accelerate economic growth. Originality/value To the best of the authors’ knowledge, this is the first comprehensive empirical study on the role of foreign inflows in the process of economic growth in the context of Pakistan economy.

EMPIRICAL ANALYSIS OF THE EFFECTS OF FDI ON THE ECONOMIC GROWTH CASE OF THE REPUBLIC OF MACEDONIA

2018 ◽  
Vol 28 (1) ◽  
pp. 111-116
Author(s):  
Liza Alili Sulejmani
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Causal Relationship ◽  
Unit Root ◽  
Series Data ◽  
Republic Of Macedonia ◽  
Long Run ◽  
Short Run ◽  
The Republic ◽  
The Impact

The importance of FDI on the economic growth of a country is widely accepted fact among the scholars and policymakers, beside of the existing debate regarding the strength of its impact and the level of the development of a country.In this regard, the main objective of this paper is to empirically determine the effects of FDI on the Macedonian economy, through the co-integration and VECM methodology. In addition, this study analyzes the impact of FDI in the short-run and long-run period in the Republic of Macedonia, utilizing quarterly time series data for the period 1998 – 2017. Moreover, time series are tested for unit root by employing the Augmented Dickey Fuller test, demonstrating that variables contain unit root in their level, while are stationary in their first difference.Secondly, Granger causality test is used in order to investigate the causal relationship among FDI and real GDP growth rate in Republic of Macedonia for 1998q1-2017q2, by suggesting unidirectional causal relationship among these variables.Last but not least, this study investigates the existence of significant relationship between FDI and economic growth in the context of the Macedonian economy, in both long – run and short – run time period.

scholarly journals Agriculture as a Determinant of Zambian Economic Sustainability

2020 ◽  
Vol 12 (11) ◽  
pp. 4559 ◽  
Author(s):  
Joseph Phiri ◽  
Karel Malec ◽  
Socrates Kraido Majune ◽  
Seth Nana Kwame Appiah-Kubi ◽  
Zdeňka Gebeltová ◽  
...  
Keyword(s):  
Economic Growth ◽  
Food Processing ◽  
National Income ◽  
Commodity Prices ◽  
Economic Diversification ◽  
Speed Of Adjustment ◽  
Long Run ◽  
Short Run ◽  
The Impact

For several years, the Zambian economy relied on the mining sector, which has been affected by fluctuations in commodity prices. The new century enhanced the calls for economic diversification, with the agricultural, manufacturing, and services sectors amongst those pronounced. This article focused on the role of agriculture in supporting the economy, particularly, the effect of agriculture on economic growth. The data analyzed was reviewed for the period 1983–2017. The ARDL Bounds Test was applied in order to meet the said objectives. The ECM results suggest that agriculture, manufacturing, services, and mining converge to an equilibrium and affect economic growth at the speed of adjustment of 90.6%, with the effect from agriculture, mining, and services being significant. The impact of agriculture on economic growth was significant in both the short-run and long-run, with coefficient unit effects of 0.428 and 0.342, respectively. The effects are strong because more than two-thirds of the rural population rely on farming, and agriculture has stood as a catalyst for food security. For the effect of agriculture to be much more profound, farmers must be supported with adequate infrastructure, accessibility to markets, farming inputs, better irrigation techniques, which would address the problem of reliance on rain, all of which were inconsistent in the last decade. Additionally, governments must ensure the institutionalization of food processing industries which add more value to the national income.

scholarly journals Economic Development, CO2 Emissions and Energy Use Nexus-Evidence from the Danube Region Countries

Energies ◽  
2021 ◽  
Vol 14 (11) ◽  
pp. 3165
Author(s):  
Eva Litavcová ◽  
Jana Chovancová
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Carbon Emissions ◽  
Bounds Testing ◽  
Mutual Cooperation ◽  
Long Run ◽  
Short Run ◽  
Danube Region ◽  
The Impact

The aim of this study is to examine the empirical cointegration, long-run and short-run dynamics and causal relationships between carbon emissions, energy consumption and economic growth in 14 Danube region countries over the period of 1990–2019. The autoregressive distributed lag (ARDL) bounds testing methodology was applied for each of the examined variables as a dependent variable. Limited by the length of the time series, we excluded two countries from the analysis and obtained valid results for the others for 26 of 36 ARDL models. The ARDL bounds reliably confirmed long-run cointegration between carbon emissions, energy consumption and economic growth in Austria, Czechia, Slovakia, and Slovenia. Economic growth and energy consumption have a significant impact on carbon emissions in the long-run in all of these four countries; in the short-run, the impact of economic growth is significant in Austria. Likewise, when examining cointegration between energy consumption, carbon emissions, and economic growth in the short-run, a significant contribution of CO2 emissions on energy consumptions for seven countries was found as a result of nine valid models. The results contribute to the information base essential for making responsible and informed decisions by policymakers and other stakeholders in individual countries. Moreover, they can serve as a platform for mutual cooperation and cohesion among countries in this region.

scholarly journals The Role of Assumptions in Ohlson Model Performance: Lessons for Improving Equity-Value Modeling

Mathematics ◽  
2021 ◽  
Vol 9 (5) ◽  
pp. 513
Author(s):  
Olga Fullana ◽  
Mariano González ◽  
David Toscano
Keyword(s):  
Time Series ◽  
Model Performance ◽  
Listed Firms ◽  
Valuation Model ◽  
Residual Income Valuation ◽  
Equity Value ◽  
Short Run ◽  
Time Series Approach ◽  
Linear Information

In this paper, we test whether the short-run econometric conditions for the basic assumptions of the Ohlson valuation model hold, and then we relate these results with the fulfillment of the short-run econometric conditions for this model to be effective. Better future modeling motivated us to analyze to what extent the assumptions involved in this seminal model are not good enough approximations to solve the firm valuation problem, causing poor model performance. The model is based on the well-known dividend discount model and the residual income valuation model, and it adds a linear information model, which is a time series model by nature. Therefore, we adopt the time series approach. In the presence of non-stationary variables, we focus our research on US-listed firms for which more than forty years of data with the required cointegration properties to use error correction models are available. The results show that the clean surplus relation assumption has no impact on model performance, while the unbiased accounting property assumption has an important effect on it. The results also emphasize the uselessness of forcing valuation models to match the value displacement property of dividends.

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