scholarly journals COVID-19 DEATH TOLL: THE ROLE OF THE NATION'S ECONOMIC DEVELOPMENT

2020 ◽  
Author(s):  
Gabriel Chodcik ◽  
Clara Weil
Keyword(s):  
Economic Development ◽  
Case Fatality ◽  
Incidence Rates ◽  
System Capacity ◽  
Gdp Per Capita ◽  
Linear Modeling ◽  
Current Crisis ◽  
Death Toll ◽  
Per Capita

Background: Several months into the novel coronavirus disease (COVID-19) pandemic, there is a limited understanding of the underlying country-specific factors associated with COVID-19 spread and mortality. This study aims to investigate the role of nations' economic development in the death toll associated with COVID-19 in Europe and Israel. Methods: Number of COVID-19 cases, deaths per million, and case fatality rate (CFR) in Israel and 39 countries in Europe were described across quintiles of gross domestic product (GDP) per capita. The association between GDP per capita and COVID-19 incidence, mortality, and CFR was investigated using generalized linear modeling adjusting for the proportion of elderly and density of the population. Results: In countries belonging to the three lower GDP quintiles, COVID-19 incidence rates per million (range 708-1134) were substantially lower compared to countries in the fourth (3939) and fifth (3476) quintiles. Major differences were also calculated in COVID-19 mortality rates per million (25-31 vs. 222-268). There was no significant (p=0.19) differences in CFR between GDP quintiles (range: 2.79-7.62%). Conclusions: COVID-19 had a greater toll in more developed nations. Though comparisons are limited by differences in testing, reporting and lockdown policies, this association likely reflects increased spread from trade and tourism in wealthier countries, whereas limited health system capacity and lack of treatment and vaccination options contributed to higher than expected CFR in wealthier countries. This unique situation will probably encourage the stronger economies to invest the required financial capacity to respond to and recover from the current crisis.

scholarly journals Tourism policy and territorial imbalances in Spain

2013 ◽  
Vol 22 (22) ◽  
pp. 7-19 ◽  
Author(s):  
Fernando Almeida García
Keyword(s):  
Economic Development ◽  
Regional Distribution ◽  
Gdp Per Capita ◽  
Extensive Review ◽  
National Economic ◽  
Per Capita ◽  
National Economic Development ◽  
Tourism Policy ◽  
Hotel Accommodation

AbstractThis paper aims to analyse Spanish tourism policy and its relation to a series of facts. The research combines an extensive review of the existing studies into the aspects of tourism policy linked to government, geography and economy with an examination of statistical sources. The main issues and findings analysed in this study are highlighted below. Firstly, the evolution of tourism policy of Spain in the last 60 years in relation to the process of national economic development is analysed. Secondly, a limited role of tourism on economic and territorial balance as well as changes in the regional distribution in the supply of hotel accommodation is highlighted. Thirdly, territorial changes related to the supply of hotel accommodation and GDP per capita are discussed. Finally, certain topics are suggested for future debate: tourism and imbalance as well as tourism and development.

scholarly journals Has Albania's Economic Development Stalled? Investigating the Role of Institutional Factors in Albania's Economic Performance

2021 ◽  
Vol 10 (4) ◽  
pp. 114
Author(s):  
Myslym Osmani ◽  
Kledi Kodra ◽  
Drini Salko
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Rule Of Law ◽  
Economic Performance ◽  
Institutional Factors ◽  
Gdp Per Capita ◽  
Relative Growth ◽  
The Rule Of Law ◽  
Per Capita

This study focuses on the institutional factors of Albania's economic development, from a comparative, dynamic, and regional European perspective. We use longitudinal data for the years 2002, 2014, and 2019 and a small selection of 13 countries in the region and some EU member states. Descriptive statistics, graphical representation, and econometric modeling are used for data analysis. The purpose of the study is to discuss, in real and comparative terms with the region and beyond, the economic growth of Albania based on the GDP per capita indicator, as well as to identify and evaluate dynamically the role of institutions in the country's development through important institutional factors, such as the effectiveness of government, rule of law, corruption, etc. The analysis shows that Albania's economic performance is weakover the last two decades. This is reflected in the insufficient relative growth of GDP per capita, the small increase in per capita income, and especially in the low increase in income for every 1% of relative growth. In these indicators, Albania continues to be consistently in the lowest positions in the region and beyond. The study highlights the strong link between economic growth and the effectiveness of government, the rule of law, and weak control over corruption. Improving corruption control by one unit in the range (-2.5 to 2.5) is expected to improve GDP per capita by an average of about 2.2 times. Improving the rule of law by one point is expected to improve GDP per capita on average by about 2.4 times. The country's sluggish economic performance is mainly attributed to weak institutions.   Received: 4 March 2021 / Accepted: 6 May 2021 / Published: 8 July 2021

scholarly journals Can Intelligence Overcome the Effect of Individualism on Economic Development of Regions?

2017 ◽  
Vol 10 (9) ◽  
pp. 116
Author(s):  
Tian Zengrui ◽  
Guillermo Andres Buitrago ◽  
Husam Wahdan
Keyword(s):  
Economic Development ◽  
Latin America ◽  
Human Development ◽  
Gdp Per Capita ◽  
Per Capita ◽  
Positive Effect ◽  
Causal Variables

A clearer understanding of the causal variables of economic development is paramount object of interest for policymakers, researchers and economical analysts. Scholars share the general agreement that economic development is an important tool to alleviate poverty and foster human development. In this study, we explore the role of individualism and intelligence on economic development. These results will show that both individualistic values and national IQs have positive effect on GDP per capita. Moreover, the effect of intelligence appears to be more significant in Latin America.

scholarly journals Education and Economic Growth of the Western Balkans Countries

ECONOMICS ◽  
2018 ◽  
Vol 6 (2) ◽  
pp. 27-35
Author(s):  
Ognjen Erić
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Economic Development ◽  
Educational System ◽  
Education System ◽  
Growth And Development ◽  
Gdp Per Capita ◽  
Western Balkans ◽  
Per Capita

Summary Numerous theoretical and empiric studies investigate the correlation between education and human capital and economic development. Full affirmation of knowledge and the role of education in stimulating economic growth were provided by endogenous theory. The subject of this paper is to analyse the correlation between education and educational system and the economic growth of the Western Balkans countries (WB). The hypothesis of this work says that: education and educational system in the WB affect the growth of GDP per capita. A better education system stimulates and accelerates the economic growth and development. The aim of this research is to prove that an optimal education system stimulates the growth and development in each observed national economy. In this paper, the results of the correlation analysis indicate high compliance of higher education with GDP per capita i.e. higher education population is particularly important for the level of development whereas there is a highly compliant but inverse relation of the population with informal level of education and economic development in the WB countries.

scholarly journals The ability of trust to influence GDP per capita

2020 ◽  
Vol 18 (1) ◽  
pp. 302-314
Author(s):  
Dmytro Zakharov ◽  
Svitlana Bezruchuk ◽  
Viktoriia Poplavska ◽  
Svitlana Laichuk ◽  
Hanna Khomenko
Keyword(s):  
Social Capital ◽  
Economic Development ◽  
Gdp Per Capita ◽  
Coefficient Of Determination ◽  
World Values Survey ◽  
Trust Level ◽  
Average Change ◽  
Per Capita ◽  
The Relationship

The article explores social capital and its impact on economic development. This paper aims to analyze the role of trust in the process of growth and economic development. The interdependence of GDP per capita and trust level as an element of social capital has been analyzed. The correlation between trust and GDP per capita in 43 countries has been reflected. World Values Survey (WVS) was used to obtain empirical trust data. To determine the relationship between confidence level and GDP per capita, the correlation model was built. The regression coefficient b = 0.834 shows the average change in the effective indicator. Thus, with an increase of 1 unit of trust, GDP per capita rises by an average of 0.834. The coefficient of determination indicates that 60.68% of cases of changes in trust lead to a change in GDP per capita. The result suggests that trust serves as a tool in assisting the economic growth and company’s value. The study examines the tools that help to build trust, as economic development as a whole depends on it.

Fraud abroad

2019 ◽  
Vol 13 (2) ◽  
pp. 249-275
Author(s):  
Jake David Hoskins ◽  
Ryan Leick
Keyword(s):  
Sharing Economy ◽  
Gdp Per Capita ◽  
Content Type ◽  
Customer Reviews ◽  
Online Customer Reviews ◽  
Level Of Economic Development ◽  
Per Capita ◽  
Using Data ◽  
Developed Nations

Purpose This study aims to investigate a sharing economy context, where vacation rental units that are owned and operated by individuals throughout the world are rented out through a common website: vrbo.com. It is posited that gross domestic product (GDP) per capita, a common indicator of the level of economic development of a nation, will impact the likelihood that prospective travelers will choose to book accommodations in the sharing economy channel (vs traditional hotels). The role of online customer reviews in this process is investigated as well, building upon a significant body of extant research which shows their level of customer decision influence. Design/methodology/approach An empirical analysis is conducted using data from the website Vacation Rentals By Owner on 1,940 rental listings across 97 countries. Findings GDP per capita serves as risk deterrent to prospective travelers, making the sharing economy an acceptable alternative to traditional hotels for the average traveler. It is also found that the total number of online customer reviews (OCR volume) is a signal of popularity to prospective travelers, while the average star rating of those online customer reviews (OCR valence) is instead a signal of accommodation quality. Originality/value This study adds to a growing agenda of research investigating the effect of online customer reviews on consumer decisions, with a particularly focus on the burgeoning sharing economy. The findings help to explain when the sharing economy may serve as a stronger disruptive threat to incumbent offerings. It also provides the following key insights for managers: sharing economy rental units in developed nations are more successful in driving booking activity, managers should look to promote volume of online customer reviews and positive online customer reviews are particularly influential for sharing economy rental booking rates in less developed nations.

The role of EU cohesion policy in promoting smart and sustainable competitiveness in the regions of the Visegrad countries

2018 ◽  
Vol 11 (3) ◽  
pp. 325-341 ◽  
Author(s):  
Malgorzata Dziembala
Keyword(s):  
Three Dimensions ◽  
Inclusive Development ◽  
Gdp Per Capita ◽  
Cohesion Policy ◽  
Content Type ◽  
Per Capita ◽  
Visegrad Group ◽  
Visegrád Countries ◽  
Diagnostic Variables

Purpose This paper aims to analyse the competitiveness of the regions of the Visegrad countries (Czechia, Hungary, Poland and Slovakia) with respect to their sustainability and discuss the role of the EU cohesion policy in promoting regional competitiveness in this dimension. Design/methodology/approach The sustainable competitiveness of Visegrad Group countries was analysed with the use of a taxonomic method, to determine the regions with the highest, middle and low level of the sustainable development (competitiveness). The level of sustainable competitiveness of the Visegrad regions was indicated based on the author’s own set of diagnostic variables which define three dimensions of sustainability. Findings The analysis revealed that the regions of the Visegrad Group countries with high GDP per capita are not necessarily ranked high in terms of sustainable competitiveness. The obtained results confirm the assumption that traditional indicators such as GDP per capita do not capture all aspects of social and environmental sustainability. Thus, the cohesion policy in the Visegrad Group countries should be diversified and adjusted to the special needs of the regions with particular emphasis being laid on sustainability dimension and the level of their economic development. When identifying the directions of support under the cohesion policy, special attention should be paid to the development of modern technologies, including information and communication technology (ICT), that facilitate the transformation of regions towards the smart regions path. Research limitations/implications Because of the data availability, it covers only one year, 2014, where it was possible. Further investigation should focus on the comparison of the changes over a certain period and changes that took place in the ranking. In addition, a detailed analysis of the regions with regard to their development of the “sustainable path” should be considered. It is essential to support less developed regions in the field of the sustainable and inclusive development through cohesion policy which is supported in 2014-2020. However, it is also important to promote the ICT investment in the lagging regions. Practical implications The analysed 35 regions of the Visegrad countries were ranked according to their level of sustainable competitiveness. The three groups of regions were distinguished. The first place in the ranking was occupied by the region which recorded the highest value of the TMC – a taxonomic measure of sustainable competitiveness and the last region – it is the region with the lowest value of the TMC. Originality/value The paper discusses the concept of sustainable competitiveness of regions. The level of sustainable competitiveness of the Visegrad regions was indicated based on the own set of diagnostic variables which define three dimensions of sustainability. The paper makes a contribution to the discussion on the regional smart and sustainable competitiveness and the role of EU cohesion policy in supporting the sustainable competitiveness.

scholarly journals Using fuzzy logic for evaluating the level of countries’ (regions’) economic development

2012 ◽  
Vol 59 (3) ◽  
pp. 293-310 ◽  
Author(s):  
Gordan Stojic
Keyword(s):  
Mathematical Model ◽  
Economic Development ◽  
Fuzzy Logic ◽  
Developed Countries ◽  
Gdp Per Capita ◽  
Industrial Growth ◽  
The Poor ◽  
The World ◽  
Level Of Economic Development ◽  
Per Capita

There are several divisions of countries and regions in the world. Besides geo-political divisions, there also are economic divisions. The most common economic division is the that on developed countries and the poor ones. These divisions are a consequence of the level of: GDP, GDP per capita, unemployment rate, industrial growth, and so on. The question is how to define a mathematical model based on which the following will be assessed: who is rich and who is poor, or who is economically developed and who is not? How the boundaries of transition from one category to another can be defined? This paper presents a model for evaluating the level of economic development of countries and regions using "fuzzy" logic. The model was tested on a sample of 19 EU member countries and aspirants for membership.

Equality of Opportunity: Theory and Measurement

2016 ◽  
Vol 54 (4) ◽  
pp. 1288-1332 ◽  
Author(s):  
John E. Roemer ◽  
Alain Trannoy
Keyword(s):  
Twentieth Century ◽  
Economic Development ◽  
Distributive Justice ◽  
Gdp Per Capita ◽  
Empirical Literature ◽  
Inequality Of Opportunity ◽  
Equality Of Opportunities ◽  
Per Capita ◽  
Definition Of ◽  
Ethical View

During the last third of the twentieth century, political philosophers actively debated about the content of distributive justice; the ruling ethical view of utilitarianism was challenged by various versions of equality of opportunities. Economists formulated several ways of modeling these ideas, focusing upon how individuals are placed with respect to opportunities for achieving various outcomes, and what compensation is due to individuals with truncated opportunities. After presenting a review of the main philosophical ideas (section 2), we turn to economic models (sections 3 and 4). We propose a reformulation of the definition of economic development, replacing the utilitarian measure of GDP per capita with a measure of the degree to which opportunities for income acquisition in a nation have been equalized. Finally, we discuss issues that the econometrician faces in measuring inequality of opportunity, briefly review the empirical literature (section 6), and conclude (section 7). (JEL C43, D63, D70, I24)

Harnessing foreign aid for the poor: role of institutional democracy

2020 ◽  
Vol 47 (7) ◽  
pp. 1689-1710
Author(s):  
Eric Akobeng
Keyword(s):  
Sustainable Development ◽  
Foreign Aid ◽  
Poverty Reduction ◽  
Gdp Per Capita ◽  
Land Area ◽  
Content Type ◽  
Per Capita ◽  
The Relationship ◽  
Ssa Countries

PurposeThis paper examines the relationship between foreign aid, institutional democracy and poverty. The paper explores the direct effect of foreign aid on poverty and quantifies the facilitating role of democracy in harnessing foreign aid for poverty reduction in Sub-Saharan Africa (SSA).Design/methodology/approachThe paper attempts to address the endogenous relationship between foreign aid and poverty by employing the two-stage least squares instrumental variable (2SLS-IV) estimator by using GDP per capita of the top five Organization for Economic Co-operation and Development (OECD) countries sending foreign aid to SSA countries scaled by the inverse of the land area of the SSA countries to stimulate an exogenous variation in foreign aid and its components. The initial level of democracy is interacted with the senders’ GDP per capita to also instrument for the interaction terms of democracy, foreign aid and its components.FindingsThe results suggest that foreign aid reduces poverty and different components of foreign aid have different effects on poverty. In particular, multilateral source and grant type seem to be more significant in reducing poverty than bilateral source and loan type. The study further reveals that democratic attributes of free expression, institutional constraints on the executive, guarantee of civil liberties to citizens and political participation reinforce the poverty-reducing effects of aggregate foreign aid and its components after controlling for mean household income, GDP per capita and inequality.Research limitations/implicationsThe methodological concern related to modeling the effects of foreign aid on poverty is endogeneity bias. To estimate the relationship between foreign aid, democracy and poverty in SSA, this paper relies on a 2SLS-IV estimator with GDP per capita of the top five aid-sending OECD countries scaled by the inverse of land area of the SSA countries as an external instrument for foreign aid. The use of the five top OECD's Development Assistance Committee (OECD-DAC) countries is due to the availability of foreign aid data for these countries. However, non-OECD-DAC countries such as China and South Africa may be important source of foreign aid to some SSA countries.Practical implicationsThe findings further suggest that the marginal effect of foreign aid in reducing poverty is increasing with the level of institutional democracy. In other words, foreign aid contributes more to poverty reduction in countries with democratic dispensation. This investigation has vital implications for future foreign aid policy, because it alerts policymakers that the effectiveness of foreign aid can be strengthened by considering the type and source of aid. Foreign aid and quality political institution may serve as an important mix toward the achievement of the Sustainable Development Goals 2030 and the Africa Union Agenda 2063.Social implicationsAs the global economy faces economic and social challenges, SSA may not be able to depend heavily on foreign partners to finance the region's budget. There is the need for African governments to also come out with innovative ways to mobilize own resources to develop and confront some of the economic challenges to achieve the required reduction in poverty. This is a vision that every country in Africa must work toward. Africa must think of new ways of generating wealth internally for development so as to complement foreign aid flows and also build strong foundation for welfare improvement, self-reliance and sustainable development.Originality/valueThis existing literature does not consider how democracy enhances the foreign aid and poverty relationship. The existing literature does not explore how democracy enhances grants, loans, multilateral and bilateral aid effectiveness in reducing poverty. This paper provides the first-hand evidence of how institutional democracy enhances the poverty-reducing effects of foreign aid and its components. The paper uses exogenous variation in foreign aid to quantify the direct effect of foreign aid and its components on poverty.

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