Do environmental taxes impede economic growth? A comparison between China and India

2020 ◽  
pp. 2050023
Author(s):  
Muhammad Ishfaq Ahmad ◽  
Ramiz Ur Rehman ◽  
Muhammad Akram Naseem ◽  
Rizwan Ali
Keyword(s):  
Economic Growth ◽  
Causal Relationship ◽  
Data Bank ◽  
Environmental Taxes ◽  
The Novel ◽  
China And India ◽  
Environmental Friendly ◽  
Sustainable Economic Growth ◽  
Adjusted Net Savings ◽  
Oecd Data

The aim of this study is to determine the direction of causality between economic growth and environmentally oriented taxes between two countries, China and India. Further, it investigates which country is leading in environmental protection race by imposing and collecting more environmental taxes. The novel element of this study is that this is the first study comparing two economic rivals by environment taxes. The dataset consists of environmental taxes and its proportion to GDP and total taxes, transportation taxes, GDP and adjusted net savings for China and India. The data are taken from the organization of Economic Cooperation and Development (OECD) data bank from 2009 to 2018. The study utilizes the Granger causality to test the causal relationship between environment taxes and economic growth. The findings of the study posit that the imposition of environmental taxes will not only make the big economies environmental friendly but with sustainable economic growth.

Oil Price—Macroeconomy Causality: Evidence from Emerging Economies

2021 ◽  
Keyword(s):  
Economic Growth ◽  
Causal Relationship ◽  
Emerging Economies ◽  
Oil Prices ◽  
Oil Price ◽  
China And India ◽  
Cross Country

This paper investigates whether changes in oil prices could explain cross-country variations in economic growth. The sample included WANA countries, China and India. The findings indicated bidirectional oil price-economy causality in the WANA region’s oil-exporting countries. In addition, a unidirectional causality running from changing oil prices to growth was found in the WANA region. However, there was no clear oil price-economy causal relationship for non-oil WANA countries, China and India. The study recommended diversification and fuel pricing reforms to create a robust fiscal balanced and sustained economic growth.

scholarly journals Adjusted Net Savings of CEE and Baltic Nations in the Context of Sustainable Economic Growth: A Panel Data Analysis

2020 ◽  
Vol 13 (10) ◽  
pp. 234 ◽  
Author(s):  
Batrancea Larissa ◽  
Rathnaswamy Malar Maran ◽  
Batrancea Ioan ◽  
Nichita Anca ◽  
Rus Mircea-Iosif ◽  
...  
Keyword(s):  
Economic Growth ◽  
Data Analysis ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Green Economy ◽  
Soviet Bloc ◽  
Eastern European ◽  
Policy Changes ◽  
Sustainable Economic Growth ◽  
Adjusted Net Savings

The article investigates the contribution of adjusted net savings to sustainable economic growth for 10 Central and Eastern European and Baltic nations, which are former Soviet bloc nations known as transition economies, using panel data analysis for the period 2005–2016. Our results indicated that adjusted net savings impacted on the GDP across the 10 countries analyzed. Nevertheless, national authorities are called on to implement policy changes in these countries to achieve sustainable economic growth and make an efficient transition from a brown economy towards a green economy.

scholarly journals Critical Analysis of Governance, Economic Freedom, and Human Capital Implications on Sustainable Economic Growth: Evidence from Sub-Saharan Africa

2021 ◽  
Vol 7 (08) ◽  
Author(s):  
Yusuf Ayotunde Ayodeji
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Causal Relationship ◽  
Economic Freedom ◽  
Sub Saharan Africa ◽  
Pooled Mean Group ◽  
Long Run ◽  
Short Run ◽  
Sub Saharan ◽  
Sustainable Economic Growth

In the recent time, the attention of scholars have shifted towards deeper understanding of factors that drives the achievement of sustainable economic growth, but yet factors such as governance, economic freedom, and human capital have not been exhaustively investigated, especially within the context of Sub-Saharan Africa (SSA). Thus, this study investigates the implications of governance, economic freedom, and human capital on the sustainability of economic growth in the SSA, usingpanel data that spanned between 1996 and 2018, and employed a Pooled Mean Group (PMG) estimator for the analysis. This study found governance, economic, and human capital to have a positive and significant causal relationship with economic growth in the long-run, while only economic freedom was found to have a negative and significant causal relationship with economic growth in the short-run. In addition, this study found that in case of disequilibrium, the model has a convergent speed of adjustment of about 10.8%. The study implications were discussed in the study.

Re-examining the Impact of Financial Development on the Economic Growth of North Cyprus Through the Moderating Role of the Education Sector

2020 ◽  
Author(s):  
Nuru Giritli ◽  
Demet Beton Kalmaz
Keyword(s):  
Economic Growth ◽  
Causal Relationship ◽  
Financial Development ◽  
Unit Root Test ◽  
Education Sector ◽  
Causality Test ◽  
Financial Depth ◽  
Multiplier Effect ◽  
Sustainable Economic Growth ◽  
The Impact

Abstract This study examines the impact of financial development on economic growth with the multiplier effect of the higher education by employing yearly data covering the years between 1990 and 2018 measured in TL. The results reached could shape the policies in achieving sustainable economic growth. Co-integration between the series are tested with ARDL based bounds test; since Zivot-Andrews structural unit root test results showed that variables are integrated at different orders. Furthermore, FMOLS and DOLS are applied to check for robustness. Moreover, Toda-Yamamoto Causality test is employed to test for the causal relationship between the series. Results show that there is a bidirectional causal relationship between financial depth and economic growth; and unidirectional causal relationships from money supply to financial depth, from economic growth and financial depth to education sector. Diagnostic and stability tests results confirm the reliability and stability of the parameters of the model employed.

Analysis of tax-spend nexus for Russian regional budgets

2020 ◽  
pp. 5-29
Author(s):  
Evsey T. Gurvich ◽  
Natalia A. Krasnopeeva
Keyword(s):  
Economic Growth ◽  
Fiscal Policy ◽  
Causal Relationship ◽  
National Economy ◽  
Federal Budget ◽  
Fiscal Rules ◽  
Fiscal Discipline ◽  
Federal Level ◽  
Regional Budgets ◽  
Econometric Technique

We study the tax-spend nexus for Russian regional budgets. Causal relationship running from taxing to spending is found, thus supporting the concept “tax and spend” suggested by M. Friedman. Next, elasticity of expenditure by revenue is estimated for a panel of 80 regional budgets basing on data for 2000—2017. Estimates are in the range of 0.72 to 0.78 (depending on the econometric technique), which exceeds elasticity for the federal budget more than twice. This evidences that fiscal policy at the sub-federal (as distinct from the federal) level has clear pro-cyclical nature. Besides, the largest sensitivity of expenditure to revenue shocks is found for the item “national economy”, implying marked adverse implications for economic growth. We suggest to mitigate this effect by modifying fiscal rules for sub-federal budgets. They are currently aimed primarily at enhancing fiscal discipline, with less emphasis on countercyclical policy, insulating economy from fiscal shocks.

Peculiarities of Modern Dynamics of the Global Economy

2010 ◽  
pp. 78-92 ◽  
Author(s):  
V. Klinov
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Business Cycles ◽  
Global Economy ◽  
Long Waves ◽  
Rapid Expansion ◽  
Business Taxation ◽  
Modern World ◽  
China And India ◽  
World Economic

Rates and factors of modern world economic growth and the consequences of rapid expansion of the economies of China and India are analyzed in the article. Modification of business cycles and long waves of economic development are evaluated. The need of reforming business taxation is demonstrated.

Impacts of Environmental Regulation on Sustainable Economic Growth

2018 ◽  
Vol 9 (9) ◽  
pp. 749-773
Author(s):  
Jonathan Fisher
Keyword(s):  
Economic Growth ◽  
Environmental Regulation ◽  
Technical Change ◽  
Best Practice ◽  
Environmental Regulations ◽  
The European Union ◽  
Porter Hypothesis ◽  
The United Kingdom ◽  
Environment Agency ◽  
Sustainable Economic Growth

There is considerable concern and debate about the economic impacts of environmental regulations. Jonathan Fisher, former Economics Manager at the Environment Agency in England and Wales, reviews the available evidence on this subject. Section 2 presents estimates of the costs and benefits of environmental regulations. Section 3 examines the impacts of environmental regulations on economic growth, innovation and technical change as well as impacts on competitiveness and any movement of businesses to less pollution havens. He questions call for greater certainty regarding future environmental regulations, whereas in fact there should be calls for less uncertainty. This section then suggests how this could be achieved. This section then finishes with an overview of the available evidence. This includes an examination of the Porter Hypothesis that environmental regulations can trigger greater innovation that may partially or more than fully offset the compliance costs. Section 4 then sets out principles for how better environmental regulation can improve its impacts on sustainable economic growth and illustrates how the European Union (EU) Water Framework Directive is a good example of the application of these principles in practice. Section 5 reviews current and recent political perspectives regarding developments in environmental regulations across the EU and shows how the United Kingdom (UK) has successfully positively managed to influence such developments so that EU environmental regulations now incorporate many of these principles to improve their impacts on economic growth. Section 5.1 then examines the implications of Brexit for UK environmental regulations. Finally, Section 6 sets out some best practice principles to improve the impacts of environmental regulation on sustainable economic growth, innovation and technical change.

2018 Nobel Economics Prize: Integrating Climate Change Measures into Sustainable Economic Growth

2018 ◽  
Vol 34 (4) ◽  
Author(s):  
Nguyen Thi Thuc An ◽  
Dau Kieu Ngoc Anh
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Endogenous Growth ◽  
Environmental Issues ◽  
Growth Theory ◽  
Endogenous Growth Theory ◽  
Technological Advances ◽  
Academy Of Sciences ◽  
Sustainable Economic Growth

The 2018 Nobel Economics Prize was awarded to two American economists - William D. Nordhaus and Paul M. Romer - who designed methods for better assessing environmental issues and technological advances on growth. This year’s Laureates, Nordhaus was the first person to create an intergrated model to assess interactions between society and nature and Romer laid the foundation for what is now called endogenous growth theory. According to the Swedish Royal Academy of Sciences, these two macroeconomists’ research have helped “significantly broaden the scope of economic analysis by constructing models that explain how the market economy interacts with nature and knowledge” which integrates climate change measures into long-term sustainable economic growth. Keywords Nobel in economics, William D. Nordhaus, Paul M. Romer, climate change, endogenous growth theory, economic growth References [1] Y Vân (2018), “Lý lịch 'khủng' của hai nhà khoa học vừa giành giải Nobel Kinh tế 2018”, Vietnambiz, đăng tải ngày 08/10/2018, https://vietnambiz.vn/ly-lich-khung-cua-hai-nha-khoa-hoc-vua-gianh-giai-nobel-kinh-te-2018-95776.html[2] Jonas O. Bergman, Rich Miller (2018), “Nordhaus, Romer Win Nobel for Thinking on Climate, Innovation”, đăng tải ngày 8/10/2018, https://www.bloomberg.com/news/articles/2018-10-08/nordhaus-romer-win-2018-nobel-prize-in-economic-sciences [3] Antonin Pottier (2018), “Giải Nobel” William Nordhaus có thật sự nghiêm túc?”, Nguyễn Đôn Phước dịch, đăng tải ngày 11/10/2018, http://www.phantichkinhte123.com/2018/10/giai-nobel-william-nordhaus-co-that-su.html[4] Thăng Điệp (2018), “Giải Nobel kinh tế 2018 về tay hai người Mỹ”, đăng tải ngày 8/10/2018, http://vneconomy.vn/giai-nobel-kinh-te-2018-ve-tay-hai-nguoi-my-20181008185809239.htm[5] Lars P. Syll (2018), “Cuối cùng - Paul Romer cũng có được giải thưởng Nobel”, Huỳnh Thiện Quốc Việt dịch, đăng tải ngày 14/10/2018, http://www.phantichkinhte123.com/2018/10/cuoi-cung-paul-romer-cung-co-uoc-giai.html[6] Phương Võ (2018), “Nobel Kinh tế 2018: Chạm tới bài toán khó của thời đại”, đăng tải ngày 9/10/2018, https://nld.com.vn/thoi-su-quoc-te/nobel-kinh-te-2018-cham-toi-bai-toan-kho-cua-thoi-dai-20181008221734228.htm[7] Đông Phong (2018), “Nobel Kinh tế cho giải pháp phát triển bền vững và phúc lợi người dân”, đăng tải ngày 8/10/2018, https://news.zing.vn/nobel-kinh-te-cho-giai-phap-phat-trien-ben-vung-va-phuc-loi-nguoi-dan-post882860.html[8] Thanh Trúc (2018), “Giải Nobel kinh tế 2018: Thay đổi tư duy về biến đổi khí hậu”, https://tusach.thuvienkhoahoc.com/wiki/Gi%E1%BA%A3i_Nobel_kinh_t%E1%BA%BF_2018:_Thay_%C4%91%E1%BB%95i_t%C6%B0_duy_v%E1%BB%81_bi%E1%BA%BFn_%C4%91%E1%BB%95i_kh%C3%AD_h%E1%BA%ADu[9] Cẩm Anh (2018), “Nobel kinh tế 2018: Lời giải cho tăng trưởng kinh tế bền vững”, đăng tải ngày 11/10/2018, http://enternews.vn/nobel-kinh-te-2018-loi-giai-cho-tang-truong-kinh-te-ben-vung-137600.html.

Assessing social sustainability in the gig economy

2021 ◽  
Author(s):  
Muralidharan Loganathan
Keyword(s):  
Economic Growth ◽  
Social Protection ◽  
Social Sustainability ◽  
Decent Work ◽  
Sustainable Development Goal ◽  
Development Goal ◽  
Country Level ◽  
Gig Economy ◽  
The World ◽  
Sustainable Economic Growth

Sustainable Development Goal 8 to “Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all” necessitates country level measures across the world. We take forward a comparative analysis of India’s SDG 8 indicator list with both the UN and ILO measurements. We note inadequate measurements on social-protection and rights for non-standard forms of employment including gig work, that are intermediated by ICT platforms. From our analysis we identify some levers to broaden the current indicator measurements to include these non-standard workers as well, to improve social sustainability.

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