DETERMINANTS OF THE EXTERNAL DEBT IN TOGO: WHAT TEACHING FOR TOGO?

2017 ◽  
Vol 12 (2) ◽  
Author(s):  
Franck Essosinam Karabou
Keyword(s):  
Public Debt ◽  
External Debt ◽  
Short Term ◽  
Long Run ◽  
Quality Of Institutions

This work aims to highlight the characteristic elements of Togo's external public debt. The results after estimates, revealing the external debt as the dependent variable, indicate that, in the short term, the quality of the institutions and imports have significant effects on the external debt and the effect of the 1994 devaluation. In the long run, imports, export variation, and the quality of institutions have a significant impact on external debt and the effect of the devaluation in 1994.

scholarly journals How Much Do Non-performing Institutions Cost?

2011 ◽  
pp. 41-65 ◽  
Author(s):  
N. Akindinova ◽  
S. Aleksashenko ◽  
A. Petronevich ◽  
M. Petronevich
Keyword(s):  
Growth Rate ◽  
Quantitative Measurement ◽  
Gdp Growth ◽  
Long Run ◽  
Quality Of Institutions ◽  
Macroeconomic Indicators ◽  
Common Notion ◽  
The Common ◽  
The One

The primary goal of this paper is to confirm the existence of the links and receive the quantitative measurement of the correlation between the quality of institutions and dynamics of their development, on the one hand, and GDP growth, on the other. For this analysis the extended database consisting of basic macroeconomic indicators and indices of quality of institutions for 51 countries for the period 2001-2009 was used. This study provides quantitative support to the common notion that economic growth in the long run is affected by the quality of institutions. Though this numeric effect may be viewed as relatively small, in the medium run the accumulated gap in the growth rate caused by permanently lower quality of institutions can be substantial. Moreover, the radical improvement in the quality of institutions provides more significant, though not lasting, addition to the growth rate.

scholarly journals The Political Economy of Industrialization in Sub-Saharan Africa: Evaluating the Role of Institutions

2022 ◽  
Vol 14 (1) ◽  
pp. 77-108
Author(s):  
Lionel Effiom ◽  
Emmanuel Uche
Keyword(s):  
Political Economy ◽  
Sub Saharan Africa ◽  
Distributed Lag ◽  
Long Run ◽  
Quality Of Institutions ◽  
The Matrix ◽  
Optimal Resource ◽  
Sub Saharan ◽  
Development Literature

Sub-Saharan Africa has recently witnessed rising growth rates, but the continent is still largely not industrialised. Mainstream empirical diagnosis has identified the paucity of physical and human capital as the main culprit. However, with the increasing inflow of capital into the continent, such arguments have become hackneyed. A possible culprit identified in the evolving development literature is the quality of institutions. How much has the quality of institutions, structured largely by the prevailing political economy of individual states, influenced Africa’s industrial performance? This study deploys descriptive and analytical methodologies to proffer answers to these questions. The estimates obtained from the Pool Mean Group Panel Autoregressive Distributed Lag (PMG-ARDL) as well as the Augmented Mean Group (AMG) panel estimators point strongly to the fact that institutions are bane of industrialization in Sub-Saharan Africa (SSA). Specifically, we find evidence that in the long run, regulatory quality, rule of law and control of corruption all impact the manufacturing subsector negatively and significantly. The panacea is not only within the matrix of optimal resource allocation, but must integrate the entire political and sociological process, involving governments at all levels, non-governmental organisations (NGOs) and faith-based groups.

scholarly journals Evaluation of Procurement Process on Ethanol Factory Construction – Lampung

2021 ◽  
Vol 1 (1) ◽  
pp. 49-59
Author(s):  
Roi Milyardi ◽  
Indra Koheru ◽  
Cindrawaty Lesmana
Keyword(s):  
Evaluation Process ◽  
Public Works ◽  
Unit Price ◽  
Short Term ◽  
Procurement Process ◽  
Long Run ◽  
Human Resource Training ◽  
Price Analysis ◽  
Design Construction

The procurement process in construction is quite complicated with its various methods. One of them, design and construct contracting, which often used, is one that has an advantage of saving time and money. However, for companies without sufficient capabilities to carry out procurement, the design construct contract method also requires expert assistance in the process. To meet the construction procurement process requirements, one workable solution is that the company collaborates with a university for its factory construction development. The relevant academicians have expertise to solve problems in procurement process. The academician team was collecting appropriate data and then evaluating it to give suggestions on the construction procurement process. The method used was a simple comparison of the price proposed by the contractor to the owner estimate which was then calculated based on the Indonesian Regulation by the Minister of Public Works and Housing no. 28/PRT/M/concerning the unit price analysis that used as reference. Prices for materials, tools, and wages referred from Indonesian unit price journal references. The result of the evaluation was to determine the contract winner based on price and technical design aspects within company budget. During the evaluation process, clarification was made regarding the proposed design, construction method and quality of the proposed material to match the technical aspects of the design. The price evaluation process which was carried out in a short term has assisted the company in carrying out its construction procurement process. In the long run, cooperation can be developed in the form of human resource training so that the company can develop independently in carrying out the construction procurement process.   Keywords: construction procurement, community service, owner estimate

scholarly journals Economic growth and quality of institutions in 27 postsocialist economies

2020 ◽  
Vol 47 (4) ◽  
pp. 769-787
Author(s):  
Constantinos Alexiou ◽  
Sofoklis Vogiazas ◽  
Nikita Solovev
Keyword(s):  
Economic Growth ◽  
Panel Cointegration ◽  
Institutional Quality ◽  
Supporting Evidence ◽  
Causality Analysis ◽  
Content Type ◽  
Long Run ◽  
Quality Of Institutions ◽  
The Relationship

PurposeThe relationship between institutional quality and economic growth is revisited.Design/methodology/approachA panel cointegration methodology and causality analysis are applied to 27 postsocialist economies over the period from 1996 to 2016.FindingsUtilizing the Worldwide Governance Indicators as a means of assessing the quality of institutions, it is found that in the long run, economic growth is positively associated with the rule of law and voice and accountability. In the short run, regulatory quality retains a positive effect, but voice and accountability demonstrate a puzzling negative effect on economic growth that merits further analysis. In exploring the causal dimension of our variables, supporting evidence of the strong links between the quality of institutions and economic growth is provided, hence rendering robust results.Originality/valueTo the best of the authors’ knowledge, it is the first time that an ARDL methodological framework, which addresses potential endogeneity issues, is used to investigate the relationship between institutional quality and growth in the context of postsocialist economies.

The Impact of Quality of Institutions on Sectoral FDI

2018 ◽  
Vol 53 (3) ◽  
pp. 174-188 ◽  
Author(s):  
Mohsin Hasnain Ahmad ◽  
Qazi Masood Ahmed ◽  
Zeeshan Atiq
Keyword(s):  
Institutional Quality ◽  
Integration Technique ◽  
Quality Matters ◽  
Services Sector ◽  
Long Run ◽  
Quality Of Institutions ◽  
Short Run ◽  
The Impact ◽  
Sectoral Fdi

This study addresses the issue whether institutional quality affects the sectoral FDI both in short run and long run in Pakistan. By employing ARDL co-integration technique, we analyse the impact of institutional quality on primary, manufacturing and services sectors FDI in Pakistan. The findings suggest that institutional quality matters in attracting FDI in manufacturing and services sectors in the long run while institutional quality does not have a significant impact on FDI in the primary sector. Moreover, results show that the impact of institutional quality on these sectors is not apparent in short run. The main findings from this research are that in long run institutional quality matters to attract substantial FDI in manufacturing and services sector of Pakistan. Hence, policies aimed at strengthening the institutional quality should be the priority for government. JEL: F21, O43, C22

scholarly journals Public Debt, Current Account Deficit and Economic Growth: A Study on Indian Context

2020 ◽  
Vol 9 (3) ◽  
pp. 594-601
Keyword(s):  
Economic Growth ◽  
Current Account ◽  
Public Debt ◽  
Current Account Deficit ◽  
External Debt ◽  
Series Data ◽  
Long Run ◽  
Short Run ◽  
The Impact ◽  
Internal Debt

External debt and internal debt form main components of the public debt structure in India. India’s debt profile shows increasing external debt and simultaneously increasing the deficit in current account which have impact on economic growth of India. Our study assesses the impact of India’s Gross External Debt (GED), Internal Debt (IND) and Current Account Deficit (CAD) on economic growth (GDP) by using time series data from 1998-99 to 2018-19. We intend to find long-run as well as short run relationship between the variables with the help of Eviews software. Stationarity of data is tested by considering Augmented Dickey-Fuller (ADF) test statistics and used Johansen Co-integration test and Vector Error Correction Model (VECM). The result shows co-integration among the variables with one equation. The result of VECM shows existence of long-run relationship among the variables. But the study fails to find the short-run causality among the variables. The results show external debt (GED), internal debt (IND), and Current Account Deficit (CAD) have negative and statistically insignificant relationship with GDP. It shows increase in public debt and deficit in current account results in decrease in GDP growth.

On the determinants of economic growth: Empirical evidence from the Eurozone countries

2020 ◽  
Vol 23 (2) ◽  
pp. 210-229 ◽  
Author(s):  
Panagiotis Pegkas ◽  
Christos Staikouras ◽  
Constantinos Tsamadias
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Public Debt ◽  
Public Investment ◽  
Trade Openness ◽  
Growth Strategies ◽  
Fiscal Consolidation ◽  
Long Run ◽  
Determinants Of Economic Growth

This study empirically investigates the causal relationship between economic growth and several factors (investment, human capital, trade openness and public debt) in the Eurozone countries, where imbalances persist several years after the financial crisis. The results reveal a long-run relationship between variables and public debt, as investment, human capital and trade openness positively affect growth. On the other hand, there is a negative long-run effect of public debt on growth. Furthermore, the results indicate that there is long-run unidirectional causality running from investment, trade openness and human capital to growth and bidirectional causality between public debt and growth. The overall results reveal that Eurozone countries should base their growth strategies on fiscal consolidation, increasing exports, correcting the use of public investment and improving the quality of human capital, especially in higher education.

scholarly journals QUALITY OF INSTITUTIONS AND FOREIGN DIRECT INVESTMENT IN DEVELOPING COUNTRIES: CAUSALITY TESTS FOR CROSS‐COUNTRY PANELS

2006 ◽  
Vol 7 (3) ◽  
pp. 103-110 ◽  
Author(s):  
Hea-Jung Hyun
Keyword(s):  
Developing Countries ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
Panel Cointegration ◽  
Long Run ◽  
Panel Cointegration Test ◽  
Quality Of Institutions ◽  
Causality Tests ◽  
Short Run

This paper analyzes the short-run and long-run dynamics between quality of institutions and foreign direct investment (FDI) in the sample of 62 developing countries covering the period 1984–2003. Panel cointegration test and FM OLS (Fully Modified OLS) estimators are used to test for cointegration. For short‐run dynamics, we estimate error correction model using fixed effect OLS and system GMM estimators. Institutional quality and FDI are found to have bi‐directional cointegrating relationship in the long-run. However, there is no evidence in favor of short-run causality between two variables.

scholarly journals PENGARUH PERTUMBUHAN EKONOMI, PENGGUNAAN ENERGI DAN EKSPOR TERHADAP KUALITAS LINGKUNGAN DI INDONESIA

2018 ◽  
Vol 7 (2) ◽  
pp. 99
Author(s):  
Putriani Putriani ◽  
Idris Idris ◽  
Melti Roza Adry
Keyword(s):  
Economic Growth ◽  
Environmental Quality ◽  
Significant Influence ◽  
Energy Use ◽  
Short Term ◽  
Linear Effect ◽  
Long Run ◽  
The Government ◽  
Growth Energy

This study aims to determine the Influence of Economic Growth, Energy Use and Export to Environmental Quality in Indonesia. The method used is Errror Correction Model (ECM) method. The data used are time series from 1983-2016 collected through documentation from BP Statistical World Energy website, World Bank, Indonesian Central Bureau of Statistics. The results of this study show that in the short term economic growth in linear effect negatively and not significant while the quadratic bepengaruh positive and insignificant to environmental quality in Indonesia. In the long run economic growth in linear has a negative and significant influence while the quadratic bepengaruh positive and significant to the kuaitas environment. Long-term and short-term energy use has a negative and significant impact on environmental quality in Indonesia. Exports in the long run have a negative and significant influence, while short-term has a negative and insignificant effect on environmental quality. The results of this study provide information about the quality of the environment so that the government and the community can protect, supervise and improve the quality of the environment in Indonesia.

Sign in / Sign up

Export Citation Format

Share Document