scholarly journals The Influences of Economic Diversification and the mediating Effect of Industrial Development on Economic Growth in Oman: A Conceptual Framework

2020 ◽  
Vol 7 (6) ◽  
pp. 626-632
Author(s):  
Nasr Al Yahyai ◽  
Aza Azalina ◽  
Kamisah Supian
Keyword(s):  
Economic Growth ◽  
Conceptual Framework ◽  
Industrial Development ◽  
Production Efficiency ◽  
New Technologies ◽  
Research Work ◽  
Value Added ◽  
Mediating Effect ◽  
Economic Diversification ◽  
The Government

Industry is at the heart of a government's plans to transform the economy from a resource-based economy to a value-added one. Economic diversification is vital to countries’ long-term economic growth, but many resource-rich countries remain heavily reliant on revenues generated by natural resources such as mineral or oil production. In Oman, the fall in price oil compelled the government to rethink about development and economic plans in order to improve the living conditions of the population. The main objective of economic diversification agenda is to increase the contribution of these sectors to the gross national product (GDP) of Oman, raise production and create more jobs for these sectors. New technologies will promote the achievement of inclusive, sustainable industrial development through its creation and absorption. New innovations allow businesses to bring new products into the market and improve production efficiency. In addition, industrial development generates new employment and profit incentives. More products and productivity of production also add to the growth of the economy. Industrial development at the same time leads to the manufacture and diffusion of emerging technology. Only by industrialization can economies, industries and businesses build and maintain the requisite technical transition capabilities. This paper presents a conceptual or research framework that identifies the mediating effect of industrial development in the relationship between economic diversification and economic growth in Oman. Two main factors are considered, i.e., the strategic drivers consisting of economic and non-economic variables, and industrial development initiatives. The paper concludes with the discussion on the formulations of hypothesis statements that describe the inter-relationships between the constructs in the conceptual framework. It is expected that the proposed framework can be further verified and tested by using empirical research work.

scholarly journals ECONOMIC GROWTH, URBANISATION AND CARBON EMISSIONS: EVIDENCE FROM SELECTED ASEAN COUNTRIES

2020 ◽  
Vol 6 ◽  
pp. 9-16
Author(s):  
Seng-Huat Tan ◽  
Meenchee Hong
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Carbon Emissions ◽  
Urban Population ◽  
Environmental Governance ◽  
Value Added ◽  
Pollution Problem ◽  
Per Capita ◽  
Asean Countries ◽  
The Government

Climate change is considered as the most severe and urgent environmental issue in this present era. There is a clear consensus that the climate change problem is much related to the rising level of carbon emissions in the atmosphere. The link between economic growth, urbanization and carbon emissions was examined extensively in the literature. Fast-paced economic growth will advance urbanization in a country and result in higher energy consumption to meet various needs in an urban economy. This conditions will trigger more carbon emissions and generate more pollution problem. This paper aims to discuss and compare the growth pattern of economic growth, urbanization and carbon emissions between five selected ASEAN countries such as Indonesia, Malaysia, Philippines, Thailand and Vietnam for the period 1990-2018. All these five countries have recorded at least 4% economic growth rate in the year 2018. In the same period, Indonesia has the largest in term of total value added in manufacturing. Similarly, Vietnam has the largest growth of value-added in the same industry. Among all, Indonesia has the largest urban population whilst Malaysia has the highest rate in urbanization and carbon emissions per capita. The upward trend of urban population and carbon emissions per capita in these countries exhibit certain pressures and challenges to the countries’ environmental quality. Therefore, the government in these countries should pay attention to environmental governance to achieve sustainable urbanization while prioritizing economic growth

scholarly journals Impact of Implementation of Goods and Service Tax on Indian Banking Sector

2018 ◽  
pp. 18-32
Author(s):  
Revathi R. ◽  
Madhushree ◽  
P. S. Aithal
Keyword(s):  
Economic Growth ◽  
Banking Sector ◽  
Value Added ◽  
Tax System ◽  
Tax Rate ◽  
Bank Branches ◽  
Goods And Services ◽  
The Government ◽  
One Year ◽  
The Impact

The banking sector is one of the biggest and revenue generating sector in our economy. Indiais a country with impressively splendid banks with sufficient capital and well-regulated rulesand regulations. One of the biggest transformations that the sector faced during this period isGST i.e., Goods and Service Tax, a new tax regime introduced in the midnight of 1 July2017. Now the new tax regime has become one year old and there are so many changeswhich happened in the banking sector during this one-year periods. Introduction of GST tothe banking sector was one the highly risky and challenging role for the government. GST isa replacement to the Value Added Tax (VAT) which was implied on goods and services. Themain purpose of studying the impact of implementation of GST is to avoid double taxationon goods and services. It is a self-regulated tax system with a simplifies tax regime whichreduces the multiplicity of tax. The purpose of this study is to know the challenges faced bythe Banking sector and its effects on the customers after the implementation of the GST.New tax regime made an incredible step by the abolish of centralized registration of thebanks. Now all the bank branches have to register under GST in each state for the smoothfunctioning. The tax rate has created an impression in the banking sector that the sector iscontributing much toward the economic growth of the country. Tax slabs is anotherimportant and critical thing discussed in this paper which has substantially increasedcompared to the old tax regime. Data for the study have been collected from secondary datasources such as journals, internet, and news articles. Using the ABCD qualitative analysistechnique, advantages, benefits, constraints, and disadvantages for both banks and thecustomers for payment of GST are identified.

scholarly journals ECONOMIC GROWTH, URBANISATION AND CARBON EMISSIONS: EVIDENCE FROM SELECTED ASEAN COUNTRIES

2020 ◽  
Vol 6 ◽  
pp. 9-16
Author(s):  
Huat Tan Seng ◽  
Hong Meenchee ◽  
Tze-Haw Chan
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Carbon Emissions ◽  
Urban Population ◽  
Environmental Governance ◽  
Value Added ◽  
Pollution Problem ◽  
Per Capita ◽  
Asean Countries ◽  
The Government

Climate change is considered as the most severe and urgent environmental issue in this present era. There is a clear consensus that the climate change problem is much related to the rising level of carbon emissions in the atmosphere. The link between economic growth, urbanization and carbon emissions was examined extensively in the literature. Fas-paced economic growth will advance urbanization in a country and result in higher energy consumption to meet various needs in an urban economy. This conditions will trigger more carbon emissions and generate more pollution problem. This paper aims to discuss and compare the growth pattern of economic growth, urbanization and carbon emissions between five selected ASEAN countries such as Indonesia, Malaysia, Philippines, Thailand and Vietnam for the period 1990-2018. All these five countries have recorded at least 4% economic growth rate in the year 2018. In the same period, Indonesia has the largest in term of total value added in manufacturing. Similarly, Vietnam has the largest growth of value-added in the same industry. Among all, Indonesia has the largest urban population whilst Malaysia has the highest rate in urbanization and carbon emissions per capita. The upward trend of urban population and carbon emissions per capita in these countries exhibit certain pressures and challenges to the countries’ environmental quality. Therefore, the government in these countries should pay attention to environmental governance to achieve sustainable urbanization while prioritizing economic growth.

Is Liberalisation Associated with Higher Productivity? A Case Study of Punjab Manufacturing

2007 ◽  
Vol 11 (4) ◽  
pp. 53-65
Author(s):  
Ravi Kiran ◽  
Manpreet Kaur
Keyword(s):  
Economic Growth ◽  
Total Factor Productivity ◽  
Manufacturing Sector ◽  
Research Work ◽  
Value Added ◽  
Business Environment ◽  
Empirical Literature ◽  
Factor Productivity ◽  
Policy Regime ◽  
Indian Economy

Productivity is an important concept in the context of the economic growth of a nation. The rate of productivity in accelerating the pace of economic growth is well recognised in both the theoretical as well as empirical literature on growth. The significance of productivity for economic growth was highlighted by Kuznets (1966) when he showed that rapid gain in industrial productivity was the crucial underpinning of Western Industrialization. The Indian Economy was thrust into throes of rapid change in the nineties when the then government of India adopted the New Economic Policy. Liberalization, Privatization and Globalization — became the three planks by which the Indian Economy was propelled into the fusion. This process has had maximum impact on the manufacturing sector, as it has radically changed its business environment and future growth dynamics. All the states of Indian union have been affected differently due to the structural changes. In response to changed policy regime different sub sectors of industry of Punjab have responded differently to adjust optimally. The present research work focuses on studying the response of manufacturing industries in Punjab to the changed policy regime after the advent of liberalisation and privatisation process in India. The present study analyses the trends in value added, labour, capital as well as trends in labour, capital and total factor productivity for sixteen industrial groups on the organised manufacturing sector for the period 1980 — 81 to 2002 — 03 and also for two sub periods, period I, 1980 — 81 to 1990 — 91 and period II, 1991 — 92 to 2002 — 03. The present study tries to examine the trends in partial productivities as well as total factor productivity in the two sub periods to see whether there has been an improvement in productivity in the post 1991 period, the period associated with liberalisation and globalisation. The study tries to analyse the industries which have been showing better performance in terms of partial and total factor productivity and also study the trends of the industries which have not performed well in the period of analysis.

PRODUCTION EFFICIENCY AND EXPORT OPPORTUNITIES OF THE GRAIN SUBCOMPLEX OF AIC

2020 ◽  
Vol 5 (86) ◽  
pp. 154-159
Author(s):  
O.V. Sidorenko ◽  
◽  
◽  
Keyword(s):  
Strategic Planning ◽  
Russian Federation ◽  
Production Efficiency ◽  
Value Added ◽  
Agricultural Products ◽  
Industrial Complex ◽  
The Russian Federation ◽  
The Government ◽  
Leguminous Crops

Currently, the government of the Russian Federation has adopted a number of strategic planning documents containing measures aimed at the development of the grain-product subcomplex of the agro-industrial complex. In particular, the long term strategy for the Development of the grain complex of the Russian Federation until 2035 was approved. It is a strategic planning document in the grain sector that defines priorities, goals and objectives of public administration and food security, ways of their effective achievement and comprehensive solution. The target indicators of the long term strategy for the development of the grain complex of the Russian Federation until 2035 are: gross yield of grain and leguminous crops - 140 million tons, crop areas – 50 million hectares, domestic consumption – 86.2 million tons, grain export volume, including products of its processing – 55.9 million tons, capacity for simultaneous storage of grain and leguminous crops – 167.4 million tons. The federal project "Export of agricultural products" is being implemented within the framework of the national project "International cooperation and export", one of its goals s to achieve the volume of grain export (in value terms) in the amount of 11.4 billion US dollars by the end of 2024 by creating new commodity mass (including with higher value added), creation of export-oriented commodity distribution infrastructure, elimination of trade barriers (tariff and non-tariff) to ensure access of agricultural products to target markets and creation of a system for promoting and positioning agricultural products. The target indicators stated in the official documents necessitate the search for reserves to increase the efficiency of the grain subcomplex development, increase export of grain and its processing products.

scholarly journals How to coordinate the relationship between energy consumption’s structure transformation and green economic development: From the perspective of technological advancement

2020 ◽  
Author(s):  
Fangming Xie ◽  
Yali Liu ◽  
Fangyuan Guan ◽  
Ning Wang
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Production Efficiency ◽  
New Technologies ◽  
Technological Advancement ◽  
Structure Transformation ◽  
Renewable Energy Consumption ◽  
The Relationship

Abstract Background: Green economic development refers to reducing pollution emissions and increasing production efficiency while promoting economic growth. Although the transformation of energy consumption’s structure is “green," it may not promote green economic development due to the constraints of existing technical conditions. Thus, the development and use of renewable energy may be detrimental to production efficiency and economic growth. Therefore, the technological advancement approach that can help coordinate the relationship between energy consumption structural transformation and green growth should be identified. In addition, we should determine whether to develop new technologies or improve existing ones. Results: This paper uses the Global-Malmquist-Luenberger approach based on Slacks-Based Measure method to measure the levels of green economic development among the 27 member states of the European Union (excluding the Republic of Malta). Moreover, this study focuses on the impact of energy consumption’s structure transformation on green economic development through the threshold regression method. Empirical results reveal (1) the inverted N-shaped relationship between energy consumption’s structure transformation and green economic development under the existing technical conditions. The degree of energy consumption’s structure transformation can merely promote green economic development in the interval of 0.67–10.87. That is, the renewable energy consumption (% of total energy consumption) is less than 0.67% or greater than 10.87%, which is not conducive to green economic development. (2) Developing new technologies can stimulate the positive effect of energy consumption’s structure transformation on green economic development. However, the improvement of existing technologies fail to exhibit an effective impact on the relationship between energy consumption’s structure transformation and green economic development. (3) Coordinating the relationship between energy consumption’s structure transformation and green economic development can also be achieved by reducing the dependence of Gross Domestic Product (GDP) on fossil fuels. Conclusions: With the existing technical conditions, the blind development and use of renewable energy may not be conducive to green economic development. When the degree of energy consumption’s structure transformation exceeds an appropriate range, it will adversely affect green economic development. Therefore, in order to better coordinate the relationship between energy consumption’s structure transformation and green economic development, European Union member states, especially those with a high degree of energy consumption’s structure transformation, should paid more attention to develop new energy technologies rather than improve existing ones. In addition, to mediate the transformation of energy consumption’s structure that promotes green economic development, we must prioritize and adjust the industrial structure and rationally allocate resources to reduce the GDP’s on fossil energy prior to increasing the intensity of renewable energy consumption.

scholarly journals Shifting From Dichotomy to Dualism: The Way to Survive the Indonesia’s Economy

2016 ◽  
Vol 3 (3) ◽  
pp. 61
Author(s):  
Mochammad Maksum Machfoedz
Keyword(s):  
Industrial Development ◽  
Strong Dependence ◽  
Foreign Debt ◽  
Value Added ◽  
Development Model ◽  
Capital Flight ◽  
Trade Policies ◽  
Authoritarian Government ◽  
Policy Measures ◽  
The Government

<p>The Indonesia financial crisis in 1997 was an event waiting to happen very long before being precipitated by the Asian crisis. Such a collapse has its root in a development model imposed by a monolithically authoritarian government basically rooted on the topdown development model, the import-based industrial development, and the non-agro industrialization. Any policy measures, monetary-fiscal-trade policies, adopted by the government were generally in favor of import-based industry, IBI, but at the expense of agricultural and local-based economy. Based on an approximately the same scenario, the country’s crisis 2015 lasted longer since the collapse of local currency starting in May 2013. Among several differences, the most significant was the nature of capital flight. Such capital flight in 1997 was basically due to the major need to US dollars for foreign debt payment, whereas that in 2015 was principally due to remarkable economic prospect outside after its collapse following the Greek crisis. The adoption of dichotomy model in economy, protecting extremely strong dependence of the Indonesia economy on the IBI, sacrificing the domestic-based-industry, DBI, has been the central criticisms against the country’s economy as relatively unstable, centralized in Jakarta only, and having minimum value added. Challenging the weaknesses of such an economic model, the country should have been adopting the model of economic dualism positioning IBI and DBI as dual sectors having the same importance</p><p><strong>Keywords</strong>: Economic dichotomy, Economic dualism, DBI, IBI. </p>

Hungarian economic stimulus measures will leave gaps

2016 ◽  
Keyword(s):  
Economic Growth ◽  
Public Sector ◽  
Unemployment Rate ◽  
Value Added ◽  
The State ◽  
Gdp Growth ◽  
State Budget ◽  
Content Type ◽  
The Third ◽  
The Government

Subject The series of tax-related measures that the Fidesz government hopes will boost competitiveness and support GDP by reducing labour shortages. Significance Following disappointing economic growth of just 2.2% on an unadjusted basis in the third quarter, owing to a larger-than-expected drop in investment, Fidesz’s latest tax-related measures are well-timed, since the economy is expected to slow in the final quarter of 2016. The government insists no amendments will be needed in the state budget, and is now forecasting 3.1% GDP growth in 2017, after 2.5% this year. Impacts Value-added tax cuts and rises in public-sector minimum wages will cause inflation to rise faster in 2017, as deflationary trends disappear. The unemployment rate is expected to bottom out as workers return from neighbouring countries. The government will need to make complementary reforms in education and privatising the state-dominated energy and telecoms sectors. If it does not, competitiveness as measured by wage growth and productivity will remain subdued.

Analysis of and Theoretical Reflections on China’s “Excessive De-Industrialization” Phenomenon

2019 ◽  
Vol 07 (04) ◽  
pp. 1950017
Author(s):  
Houkai WEI ◽  
Songji WANG
Keyword(s):  
Economic Growth ◽  
Industrial Development ◽  
Manufacturing Industry ◽  
Service Industry ◽  
Eastern China ◽  
Value Added ◽  
Western China ◽  
Advanced Manufacturing ◽  
Industrial Economy ◽  
Modern Service Industry

Industrialization is a long-term process of spiral transformation and upgrading. In a broad sense, industrialization can be divided into two stages, i.e. shallow industrialization and deep industrialization. The first stage refers to a process of expansive industrialization aiming to increase the proportion of industry, while the second stage refers to a process of contractive industrialization centered on improvements in industrial quality and competitiveness, to which the shallow industrialization is transformed and upgraded. In fact, the industrialization stages divided according to traditional theories, i.e. early stage, middle stage and late stage, are only for achieving the goals of shallow industrialization, instead of ultimately completing the developmental tasks of industrial economy. The transforming and upgrading from shallow industrialization to deep industrialization is an essential stage for a major country to enhance its development quality and competitiveness of industrial economy. So far, China has not fully industrialized. In the context of unbalanced and inadequate industrial development, China has seen a rapid decline in the industrial value-added and employment proportions in recent years, prematurely showing the features of rapid excessive de-industrialization in all respects. China’s current excessive de-industrialization is not only attributed to the impulse of rushing into mass actions in industrial upgrading, but also resulting from the combined effects of multiple factors such as surging factor prices and overcapacity at the current stage, exerting serious negative impacts on China’s economic growth, productivity improvement, development of modern service industry and transfer of agricultural labor force. In a long period of time ahead, considering the need to improve the quality of industrialization and the relationship between industry and services, real economy and virtual economy, the industry dominated by advanced manufacturing industry is still China’s major impetus for driving the medium–high rate of sustained and stable economic growth. Advancing deep industrialization remains a long and arduous task. Therefore, it is required to get rid of the misunderstanding caused by traditional theories and thinking, reconsider the importance of industrialization, implement the strategy of deep industrialization and prevent excessive de-industrialization. The specific measures include: expedite the promotion of deep industrialization in the developed regions of Eastern China, build a group of advanced manufacturing bases in Central and Western China and facilitate an in-depth integrated development of advanced manufacturing industry and modern service industry.

An Empirical Re-examination

2017 ◽  
Vol 9 (1) ◽  
pp. 36-48 ◽  
Author(s):  
Onyinye I. Anthony-Orji ◽  
Anthony Orji ◽  
Jonathan E. Ogbuabor ◽  
Emmanuel Nwosu
Keyword(s):  
Economic Growth ◽  
Public Expenditure ◽  
Positive Impact ◽  
Statistical Significance ◽  
Research Work ◽  
Private Investment ◽  
Capital Formation ◽  
Oil Export ◽  
The Government ◽  
The Impact

The current decline in global oil prices and the attendant economic distortions it has caused in many oil-dependent economies, such as Nigeria, have become a cause of concern to researchers and economic managers alike. This research work, therefore, investigates the impact of non-oil export (NOIL) on capital formation and economic growth in Nigeria. It adopts a classical linear macroeconomic model using aggregate data time series from 1980 to 2013. Empirical results from the estimated model show that NOIL has a positive impact on capital formation and economic growth in Nigeria, respectively. However, the level of statistical significance differs between capital formation and economic growth. The study, therefore, recommends that there is a need for diversification of the economy as this will go a long way in boosting the growth of the Nigerian economy. Furthermore, the government should create an enabling environment that will ensure the survival and functioning of the ailing industries in order to diversify the economy. Finally, the problem of infrastructural deficits (water supply, transport system, telecommunication and energy) should be tackled by massive public expenditure and private investment, as this will enhance productivity in the non-oil sectors.

Sign in / Sign up

Export Citation Format

Share Document