THE MACROECONOMIC EFFECTS OF ENHANCED REFORMS IN CHINA

2019 ◽  
Vol 65 (06) ◽  
pp. 1619-1644
Author(s):  
ZHIHONG JIAN ◽  
YEQING YANG
Keyword(s):  
Economic Growth ◽  
Adverse Effect ◽  
Growth Rate ◽  
Steady State ◽  
Average Intensity ◽  
Potential Growth ◽  
Economic Growth Rate ◽  
Short Run ◽  
Macroeconomic Effects

Motivated by the idea that substantive reforms in China always happen intermittently and randomly, this paper constructs an RBC model, augmented with a shock that reflects the role of reforms and its randomly occurring character, to investigate the macroeconomic effects of enhancing the reform intensity. An increase in the average intensity of reforms leads to a higher economic growth rate permanently and provides sustainable support for economy when the potential growth rate declines. But it decreases the ergodic steady state of the detrended output, and this could have an adverse effect on economic growth in the short run.

scholarly journals Covid-19, Remittance Inflow, and Economic Growth Rate in Nepal

2020 ◽  
pp. 69-80
Author(s):  
Arbind Chaudhary
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Least Square Method ◽  
Least Square ◽  
Economic Growth Rate ◽  
Ordinary Least Square ◽  
Domestic Literature ◽  
Gdp Growth Rate ◽  
Economic Ground

The proliferation of COVID-19 pandemic over the globe is anomalously hurting the world’s economy. The paper aims to reveal the possible loss in economic growth rate for FY 2020 due to plausible retardation in remittance/GDP size of Nepal under COVID- 19 regime by utilizing transmission approach, trend forecast, and ordinary least square method form 2000 to 2019. The study harvests two premises: first, remittance/GDP has a positive estimate to the economic growth rate and second, if the pandemic proliferates more, and if it downsizes the remittance/ GDP size by 25% to 75%, it reduces the projected GDP growth rate (6.95) up to 6.68 to 5.3% respectively for FY 2020. However, domestic literature also supports the strong role of remittance on the micro-level. Therefore, the microeconomic impact of the virus may be more appalling than the macro-economic ground.

scholarly journals Primary Fiscal Performance, Economic Growth, and Public Debt in Lebanon

2021 ◽  
Vol 15 (2) ◽  
pp. 187-197
Author(s):  
Carole Ibrahim
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Public Debt ◽  
Debt Crisis ◽  
Economic Growth Rate ◽  
Fiscal Performance ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Short Run ◽  
The Government

Lebanese public debt has been accumulating since 1990, after the end of the civil war. Recently, concerns about the ability of the government to keep servicing its debt have emerged, particularly because the debt-to-GDP ratio reached almost 147% at the end of 2018. This study aims to examine whether a cointegrating relationship exists among primary fiscal performance, real economic growth, and public debt in Lebanon using an autoregressive distributed lag (ARDL) model between 2000 and 2018. The ARDL results suggest the non-existence of a cointegrating relationship and hence the unsustainability of the Lebanese public debt. The evidence of the short-run estimation indicates that better primary fiscal performance and a higher economic growth rate reduce Lebanese public debt in the short run. This study proposes that immediate reforms that increase the primary fiscal surplus and attract investors are crucial to prevent a debt crisis in the country.

Estimation about Contribution from Information Technology in China’s Economy

2011 ◽  
Vol 58-60 ◽  
pp. 304-308
Author(s):  
Shi Li
Keyword(s):  
Economic Growth ◽  
Information Technology ◽  
Growth Rate ◽  
Factor Productivity ◽  
Economic Growth Rate ◽  
Tfp Growth ◽  
Role Of Information ◽  
Production Probability ◽  
China’S Economy

To interpret the role of information technology (IT) in China’s economy, the paper focuses on examining the growth contribution from information technology with Production Probability Frontier and Dual Method during the period from 1980 to 2003. Our results indicate that the Chinese economic growth rate devoted to IT investment has risen steadily since 1990. The contribution share of total factor productivity (TFP) from IT in China has increased sharply after 1995, while the TFP growth rate from non-IT sector dropped at that period.

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.

Mexico's Pre-Revolutionary Reckoning with Railroads

1985 ◽  
Vol 42 (1) ◽  
pp. 1-28 ◽  
Author(s):  
Robert W. Randall
Keyword(s):  
Economic Growth ◽  
Economic Theory ◽  
Transportation Network ◽  
Underdeveloped Country ◽  
Role Of The State ◽  
Economic Interpretation ◽  
Short Run ◽  
Railway System ◽  
Economic Considerations

Economic considerations all but dominate recent historical writing in this country about the railroads of Mexico. Technical matters of construction and operation, as well as the role of the state in both, are touched upon, but economic interpretation, whether of the development of a railway system or of its impact on the nation, is the watchword if not catchword of most writing. Probably the leading example of the dominant approach is Growth against Development: The Economic Impact of Railroads in Porfirian Mexico (Northern Illinois University Press, 1981), by John H. Coatsworth, in which the author concludes that, while “the short run contribution of railroads to economic growth was large,” their longrun impact helped “to create the underdeveloped country Mexico has become.” Applying economic theory and measuring, Coatsworth in essence proves with numbers a case argued more elegantly in straight prose early in this century: that the application of a modern transportation network to a staple producing economy will do little more than extend and intensify the production system so as to increase the staple output.

scholarly journals Influence of corruption on economic growth rate and foreign investment

2008 ◽  
Vol 63 (4) ◽  
pp. 547-550 ◽  
Author(s):  
Boris Podobnik ◽  
Jia Shao ◽  
Djuro Njavro ◽  
Plamen Ch. Ivanov ◽  
H. E. Stanley
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Foreign Investment ◽  
Economic Growth Rate

External Debts and Economic Growth when Debt Rating Matters

2021 ◽  
Author(s):  
Ly Dai Hung
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Cross Section ◽  
Sovereign Debt ◽  
Developing Economies ◽  
External Debt ◽  
Fixed Effect ◽  
Panel Regression ◽  
Economic Growth Rate ◽  
Determinants Of Economic Growth

The paper investigates the dependence pattern of economic growth on external debt supply by accounting for the safety of debts, measured by the sovereign debt rating. The method of cross-section regression is based on a sample of 145 advanced and developing economies with averaged data over the 1990–2019 period. The pattern of economic growth follows a U-shaped curve, for which the growth rate is first decreasing and then increasing on the external debt supply. A possible explanation can rely on the sovereign debt rating. For low supply of external debts, more supply of debts reduces the debt rating, which, in turn, lowers the economic growth rate. But for high enough supply of debts, more debts raise their rating, improving the growth rate. These results are robust on controlling for various determinants of economic growth and on the fixed effect panel regression.

scholarly journals Role of carbon allocation efficiency in the temperature dependence of autotroph growth rates

2018 ◽  
Vol 115 (31) ◽  
pp. E7361-E7368 ◽  
Author(s):  
Bernardo García-Carreras ◽  
Sofía Sal ◽  
Daniel Padfield ◽  
Dimitrios-Georgios Kontopoulos ◽  
Elvire Bestion ◽  
...  
Keyword(s):  
Growth Rate ◽  
Temperature Dependence ◽  
Growth Rates ◽  
Carbon Allocation ◽  
Thermal Sensitivity ◽  
Potential Growth ◽  
Allocation Efficiency ◽  
Population Growth Rates ◽  
Performance Curves

Relating the temperature dependence of photosynthetic biomass production to underlying metabolic rates in autotrophs is crucial for predicting the effects of climatic temperature fluctuations on the carbon balance of ecosystems. We present a mathematical model that links thermal performance curves (TPCs) of photosynthesis, respiration, and carbon allocation efficiency to the exponential growth rate of a population of photosynthetic autotroph cells. Using experiments with the green alga, Chlorella vulgaris, we apply the model to show that the temperature dependence of carbon allocation efficiency is key to understanding responses of growth rates to warming at both ecological and longer-term evolutionary timescales. Finally, we assemble a dataset of multiple terrestrial and aquatic autotroph species to show that the effects of temperature-dependent carbon allocation efficiency on potential growth rate TPCs are expected to be consistent across taxa. In particular, both the thermal sensitivity and the optimal temperature of growth rates are expected to change significantly due to temperature dependence of carbon allocation efficiency alone. Our study provides a foundation for understanding how the temperature dependence of carbon allocation determines how population growth rates respond to temperature.

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