scholarly journals Measuring economic growth in OPEC countries : A panel data approach

2015 ◽  
Vol 4 (2) ◽  
pp. 345
Author(s):  
Johnson Taiwo Olajide ◽  
Jubril Oluwatoyin Fantola ◽  
Olufemi Aderemi Ayansola
Keyword(s):  
Economic Growth ◽  
Purchasing Power Parity ◽  
Fixed Effects ◽  
Random Effect ◽  
Developed Countries ◽  
Ordinary Least Squares ◽  
Positive Influence ◽  
Fixed Effects Model ◽  
Power Parity ◽  
Test Statistic

<p>Most of the developing and under-developed countries have been facing a lot of challenges on the issue of economic growth, despite the fact that they are endowed with both natural and human resources. This study examines the determinants of real per Capita GDP growth in Organization of the Petroleum Exporting Countries (OPEC) using a panel of twelve countries for the period of 1986 and 2010.The pooled Ordinary Least Squares (OLS), Fixed Effect (FE) and Random Effect (RE) models were employed to assess the relationship between CGDP and other economic variables used. The result showed that price level of consumptions (pc) and investment share (ci) are the important factors of CGDP that contribute to the economic growth of OPEC countries. The result also established that exchange rate (Xrat), price of GDP (p), purchasing power parity (ppp) and ci have a positive influence on CGDP. The test statistic revealed that Random Effects Model (REM) estimator is more efficient than OLS and that there is no significance difference between Fixed Effects Model (FEM) and REM estimators.</p>

The Impact of Population Aging on Economic Growth: Panel Data Evidence from Middle East Countries

2021 ◽  
pp. 67-86
Author(s):  
Abdullah Abdulaziz Bawazir ◽  
Mohamed Aslam ◽  
Ahmad Farid Osman
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Middle East ◽  
Fixed Effects ◽  
Population Aging ◽  
Developed Countries ◽  
Ordinary Least Squares ◽  
Dependency Ratio ◽  
Middle East Countries ◽  
The Developed Countries

This study examines the relationship between population aging and economic growth in a panel of 10 selected Middle East countries for the period of 1996–2016. For this purpose, this study uses two different measures of population aging, namely population aged 65 and over and old dependency ratio, to investigate their impacts on economic growth. The study utilizes the three alternative models of static panel data comprised of the pooled ordinary least squares, random effects, and fixed effects. The results of the robust fixed effects model indicate that the population aged 65 and over and the old dependency ratio have a positive effect on economic growth. The finding supports the argument indicating that an aging population does not necessarily adversely affect economic growth in the developing countries as it does in the developed countries. Therefore, the elderly population is not a matter of concern for the Middle East and the mechanisms through which the effect can take place are savings behavior and human capital accumulation of the individuals.

scholarly journals The Determinants of Economic Growth in CEMAC through a Panel Data Approach

2016 ◽  
Vol 4 (2) ◽  
pp. 483
Author(s):  
Nzingoula Gildas Crepin
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Fixed Effects ◽  
Good Governance ◽  
Generalized Method Of Moments ◽  
Central Africa ◽  
Ordinary Least Squares ◽  
Fixed Effects Model ◽  
Main Determinants ◽  
Determinants Of Economic Growth

<div><p><em>This article highlights through a panel data approach the determinants of economic growth; observed over the last decade in the Economic and Monetary Community of Central Africa (CEMAC) and necessary to reach emerging economies stage. To do this, we essentially used Stata 12 software to come up with the results, and a panel data sample comprising six CEMAC member states, namely Congo, Cameroon, Gabon, Equatorial Guinea, Central African Republic and Chad, for the period ranging from 2000 to 2013. The results obtained after estimating ordinary least squares, fixed effects model, random effects model, generalized method of moments (GMM) and specification tests show that the best model to estimate these types of data is the fixed effects model. Besides, the main determinants of economic growth in CEMAC over that period are Foreign Direct Investment (FDI) and loans lending to the economy (LOAN). After estimation, FDI is found positive and significant on economic growth, while LOAN is significant and found negative maybe due to lack of good governance.</em></p></div>

scholarly journals Impact of Full IFRS, Accounting Standards for SMES and Company Demographics on Firms’ Return on Asset and Return on Equity using Panel Data Regression

2019 ◽  
Vol 8 (6S) ◽  
pp. 589-601 ◽  
Keyword(s):  
Least Squares ◽  
Random Effects ◽  
Fixed Effects ◽  
Random Effect ◽  
Ordinary Least Squares ◽  
Lagrangian Multiplier ◽  
Random Effects Model ◽  
Fixed Effects Model ◽  
Real Property ◽  
The Impact

Due to globalization, markets are becoming more interconnected as the companies are engaged in doing cross-border offerings. Currently, competitions are intensified because Domestic organizations discover themselves competing with each nearby opposite numbers and worldwide companies. But one component that hinders SMEs is the need for reliable and similar monetary data. According to Abarca (2014), adoption of a high-quality and consistent set of accounting requirements is critical so as for the businesses to remain competitive in ASEAN member states. This paper ambitions to answer the query, what modified into the extent of the impact of compliance with full IFRS and IFRS for SMEs on profitability of agencies belong to real property enterprise? This paper moreover sought to decide whether there may be a sizeable distinction among the groups’ compliance with the overall PFRS and the PFRS for SMEs and to determine whether or now not there is a massive distinction among the companies’ financial normal overall performance earlier than and after the adoption of the PFRS for SMEs.Paired T-test have become employed in case you need to determine whether there is a big distinction between the agencies’ compliance with the entire PFRS and the PFRS for SMEs and to decide whether or not there may be a big difference some of the groups’ monetary performance earlier than and after the adoption of the PFRS for SMEs. Using STATA, the great appropriate version for every economic ratio on the subject of degree of compliance emerge as determined on. First, take a look at parm command became used to find out which most of the Least Squares Dummy Variable Regression Modes (LSDV1, LSDV2, LSDV3) underneath the Fixed Effects Model is the ideal version. Afterwards, Hausman Fixed Random Test changed into used to pick out out which is more suitable amongst Fixed Effects Model and Random Effects Model. If Fixed Effects Model modified into the more appropriate one, the Wald’s test turn out to be used to determine the best version among Fixed Effects Model and Ordinary Least Squares Model. On the alternative hand, if Random Effects Model became the more suitable one, the Breusch and Pagan Lagrangian Multiplier Test for Random Effect have become used to decide the satisfactory version amongst Random Effects Model and Ordinary Least Squares. Moreover, if Ordinary Least Squares became the splendid model, it is going to be in addition tested to check for heteroscedasticity and multicollinearity. White’s test became used to check for heterescedasticity and Variance Inflation Factor have become used to test if multicollinearity is gift. The results display that the adoption of PFRS for SMEs stepped forward the compliance of Philippine real property SMEs. However, no vast alternate became said inside the financial average performance of those companies (as measured with the resource of cross back on assets and go back on equity). This was further supported by the results of the panel regression. This means that despite having a relatively

scholarly journals Global FDI Inflow and Its Implication across Economic Income Groups

2020 ◽  
Vol 13 (11) ◽  
pp. 291
Author(s):  
Udi Joshua ◽  
Mathew Ekundayo Rotimi ◽  
Samuel Asumadu Sarkodie
Keyword(s):  
Economic Growth ◽  
Fixed Effects ◽  
Trade Openness ◽  
Generalized Method Of Moments ◽  
Income Group ◽  
Ordinary Least Squares ◽  
Business Environment ◽  
Positive Influence ◽  
Panel Estimation ◽  
The Impact

Foreign direct investment (FDI) as a driver of growth is important in today’s globalized economy. It is extremely difficult for economies to grow sustainably without economic interactions outside their borders. However, there has been a debate on the impact of FDI inflow on economic expansion. Hence, this study investigated the influence of FDI on economic growth for a selection of 200 economies around the world for the period 1990–2018. We subdivided the sample into World Bank income group clusters to aid comparison across income blocs. The study employed panel estimation techniques including pooled ordinary least squares (POLS), dynamic panel estimation with fixed-effects and random-effects and generalized method of moments (GMM). The study found that FDI, debt stock and official development assistance are promoters of growth in the selected countries—although debt stock weakly impacts economic growth. In contrast, trade openness and exchange rates had a mixed (negative and positive) influence on economic growth. The study suggests that the creation of a conducive business environment and economic policies will attract FDI inflows. Additionally, borrowing from external sources could be minimized despite its perceived positive influence on growth to achieve financial independence.

scholarly journals The Social Effects Of The Economic Transformation In India (An Attempt At Measurement and Evaluation)

2017 ◽  
Vol 20 (1) ◽  
pp. 119-132
Author(s):  
Grzegorz Bywalec
Keyword(s):  
Economic Growth ◽  
Life Expectancy ◽  
Cross Sections ◽  
Purchasing Power Parity ◽  
Developed Countries ◽  
Economic Transformation ◽  
Social Effects ◽  
Development Economic ◽  
Power Parity ◽  
The Social

One of significant and, at the same time, challenging research problems in Economics is measuring the social effect of economic growth (development). Economic growth should never be treated a goal per se. It is rational provided that it brings effects such as, generally speaking, an improvement in the standard of living. However, this is not always the case. Social sciences, including Economics, have not developed any uniform methods of measuring and evaluating such effects yet. This paper constitutes an attempt to measure and evaluate the social effects of the reforms of the Indian economy and state launched in 1991. The analysis covers a period of over twenty years. As a result of the aforementioned reforms, at the beginning of the second decade of the 21st century, India ranked third in the world in terms of GDP (based on purchasing power parity), after the USA and China. So what are the social effects of such a dynamic economic growth? For the purposes of this paper, in order to quantify and evaluate the social effects of the economic growth in India and its dynamics in the analysed time period, the author experimentally adopts a popular socio-demographic index, i.e. the average further life expectancy (e0). This constitutes the so-called natural aggregate (a micro index) applied in social development analyses. It is quite commonly used by Indian economists and statisticians, albeit it is rarely applied in European Economics. The empirical analysis of the trends in the said index proves that the rapid economic growth in India after the year 1991 has brought about substantial increases in the life expectancy of the inhabitants of the country and a diminishing of disparities in this regard on a national scale (in different cross-sections: urban-rural, females-males, as well as in the regional perspective). In the mid-2010s India is almost on a par with the countries with a medium development rate in terms of the life expectancy of its inhabitants and in some states (e.g. Kerala). the value of this index is comparable to that in the highly developed countries.

scholarly journals Export and Economic Growth Nexus in the GCC Countries: A panel Data Approach

2017 ◽  
Vol 7 (12) ◽  
pp. 01
Author(s):  
Hatem Hatef Abdulkadhim ◽  
Sazan Taher Saeed
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Fixed Effects ◽  
Panel Data Analysis ◽  
Strong Support ◽  
Ordinary Least Squares ◽  
Empirical Literature ◽  
Fixed Effects Model ◽  
Font Size ◽  
Growth Hypothesis

<p><span style="font-size: medium;">The export and economic growth nexus, which is called Balassa’s Export-Led Growth Hypothesis (ELGH)  </span><span style="font-size: medium;">in the literature, is still an unstill issue in both the theoretical and empirical literature. In the present study, the effect of export on economic growth in</span><span style="font-size: medium;">  </span><span style="font-size: medium;">oil exporting developing countries, namely, Bahrain, Saudi Arabia, Qatar,</span><span style="font-size: medium;">  </span><span style="font-size: medium;">Kuwait, UAE, and Oman in the 1990–2014 period was tested based on three models, pooled ordinary least squares (POLS), fixed effects model (FEM), and random effects model (REM)</span><span style="font-size: medium;">  </span><span style="font-size: medium;">via panel data analysis . The findings revealed strong support for the “export-led growth” hypothesis. In addition, our results show that apart from growth in the labor force, investments in capital formation are necessary for economic growth. According to the obtained results, the ability to adopt technological changes in order to increase efficiency, and sustain economic development is also important.</span><span style="font-size: medium;">  </span></p>

scholarly journals How to restore the safety of the people of Russia

POPULATION ◽  
2021 ◽  
Vol 24 (2) ◽  
pp. 4-18
Author(s):  
Abel Aganbegyan
Keyword(s):  
Economic Growth ◽  
Purchasing Power Parity ◽  
Developed Countries ◽  
Real Income ◽  
World Population ◽  
Power Parity ◽  
Important Thing ◽  
The People ◽  
The World ◽  
Main Thing

For every nation, preservation of the people is the most important thing. For Russia this life-affirming task is as important as for no other power due to its specific features. We are talking about the key geopolitical task of our country, since Russia has 17% of the Earth's land. At the same time, Russia's share in the world economy at purchasing power parity is 3.1%, and the population of Russia today makes only 1.9% of the world's population. And a further reduction in the country's share of the world population is highly undesirable. To stop the decline in the population by 2025, and then begin a gradual recovery of its size, three main measures are needed. The first and most significant is reduction in mortality, which in Russia on average with the account of the age structure, is 30-40% higher than in developed countries and 20% higher than in post-socialist countries. The main thing here is to reduce mortality in working age, from cardiovascular diseases and external causes. The second most important thing is to ensure migration growth to Russia up to 250 thousand people per year. The third is to increase the total fertility rate from 1.5 in 2019 to 1.75-1.8 by 2030. It is impossible to improve the demographic indicators and restore the safety of the people in the conditions of crisis and stagnation. But it is impossible to move to socio-economic growth without raising income and consumption of the population. The main condition for preservation of the people is resumption of the socio-economic growth by 3-4% per year that will ensure growth in the real income of the population and final consumption of households, assistance to families with children in order to overcome poverty and, ultimately, an increase in the birth rate.

scholarly journals Research on the Economic Growth for Under-Developed Counties -- Based on Two-way Fixed-effects Model

2021 ◽  
Vol 690 (1) ◽  
pp. 012065
Author(s):  
Zhengze Li ◽  
Zibo Huang ◽  
Yongcheng Zhang ◽  
Zili Huang
Keyword(s):  
Economic Growth ◽  
Fixed Effects ◽  
Fixed Effects Model

scholarly journals Islamic Bank Financing and Its Effects on Economic Growth: A Cross Province Analysis

2019 ◽  
Vol 8 (2) ◽  
Author(s):  
Muhammad Anif Afandi ◽  
Muhammad Amin
Keyword(s):  
Economic Growth ◽  
Fixed Effects ◽  
Islamic Banking ◽  
Fixed Effects Model ◽  
Islamic Bank ◽  
Bank Financing ◽  
Panel Data Regression ◽  
Data Regression ◽  
Almost All

Islamic banking industry shows a reasonably good development, one of which is marked by an increase in service coverage in almost all provinces in Indonesia. However, the question is how far Islamic banking capable of contributing to the improvement of Indonesia's economic growth? The purpose of this research is to examine the role of Islamic banking in promoting inclusive economic growth with a sample of 33 provinces in Indonesia. The method used in this research is panel data regression using the fixed effects model. The results show that Islamic bank financing does not have an impact on Indonesia's economic growth. In other words, the results of the research provide information that the existence of Islamic banking in Indonesia has not yet give a significant impact on the welfare of Indonesian society

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