scholarly journals Science, Technology, Engineering, and Math (STEM) effect on GDP in EU countries: Labor force perspective

2020 ◽  
Vol 7 (1) ◽  
pp. 114-121 ◽  
Author(s):  
Dayanat Ahmadov
Keyword(s):  
Educational Attainment ◽  
Labor Force ◽  
Developed Countries ◽  
Gdp Per Capita ◽  
Potential Contribution ◽  
Eu Countries ◽  
Marginal Effects ◽  
Science Technology ◽  
Per Capita ◽  
The Impact

This paper analyzes the impact of Science, Technology, Engineering and Math (STEM) workforce on GDP in EU countries as a proxy for what could happen in Azerbaijan. We first estimate the effect of STEM labor force, which is measured by number of workers in STEM occupations, on GDP in 28 EU countries for 1992-2015. We use STEM labor force as the basis for innovation and productivity in a country as opposed to educational attainment used mostly for developed countries. Then, we use the estimated marginal effects to quantify the potential contribution of STEM labor force on GDP per capita in Azerbaijan. It was found that adding 44,000 STEM jobs (28% increase) in STEM labor force in Azerbaijan, is predicted to cause $1944 increase in GDP per employee which corresponds to $1102 in GDP per capita approximately.

The Environmental Kuznets Curve

2017 ◽  
Author(s):  
David I. Stern
Keyword(s):  
Economic Growth ◽  
Environmental Impacts ◽  
Environmental Kuznets Curve ◽  
Human Impacts ◽  
Developed Countries ◽  
Environmental Problems ◽  
Gdp Per Capita ◽  
Kuznets Curve ◽  
Per Capita ◽  
The Impact

The environmental Kuznets curve (EKC) is a hypothesized relationship between environmental degradation and GDP per capita. In the early stages of economic growth, pollution emissions and other human impacts on the environment increase, but beyond some level of GDP per capita (which varies for different indicators), the trend reverses, so that at high income levels, economic growth leads to environmental improvement. This implies that environmental impacts or emissions per capita are an inverted U-shaped function of GDP per capita. The EKC has been the dominant approach among economists to modeling ambient pollution concentrations and aggregate emissions since Grossman and Krueger introduced it in 1991 and is even found in introductory economics textbooks. Despite this, the EKC was criticized almost from the start on statistical and policy grounds, and debate continues. While concentrations and also emissions of some local pollutants, such as sulfur dioxide, have clearly declined in developed countries in recent decades, evidence for other pollutants, such as carbon dioxide, is much weaker. Initially, many understood the EKC to imply that environmental problems might be due to a lack of sufficient economic development, rather than the reverse, as was conventionally thought. This alarmed others because a simplistic policy prescription based on this idea, while perhaps addressing some issues like deforestation or local air pollution, could exacerbate environmental problems like climate change. Additionally, many of the econometric studies that supported the EKC were found to be statistically fragile. Some more recent research integrates the EKC with alternative approaches and finds that the relation between environmental impacts and development is subtler than the simple picture painted by the EKC. This research shows that usually, growth in the scale of the economy increases environmental impacts, all else held constant. However, the impact of growth might decline as countries get richer, and richer countries are likely to make more rapid progress in reducing environmental impacts. Finally, there is often convergence among countries, so that countries that have relatively high levels of impacts reduce them more quickly or increase them more slowly, all else held constant.

PROCESSED FOOD TRADE OF EUROPEAN UNION COUNTRIES – THE GRAVITY APPROAC

2021 ◽  
Vol XXIII (2) ◽  
pp. 96-108
Author(s):  
Agnieszka Sapa ◽  
Łukasz Kryszak
Keyword(s):  
European Union ◽  
Consumer Preferences ◽  
Gdp Per Capita ◽  
Significant Feature ◽  
Processed Food ◽  
Trade Theory ◽  
Eu Countries ◽  
Per Capita ◽  
Linder Hypothesis ◽  
The Impact

A significant feature of world trade development is the diminishing role of developed countries in the international agri-food market. The share of the European Union in processed food export has been reducing steadily from 2000, giving place to developing countries at the same time. Considering studies devoted to the factors influencing bilateral trade, the question to what extent the trade of processed food depends on consumer preferences represented by absolute differences of GDP per capita (Linder hypothesis), geography, and trade liberalization remains open. It is interesting in the context of the new demand-oriented trade theory and the globalization process that causes a shrinking distance. The main purpose of the paper is to indicate the impact of consumer preferences and geography on the export value of processed food of EU countries in 2000-2019. To achieve this goal, the gravity model was constructed and estimated via Hausman-Taylor panel regression. The dependent variable was the bilateral export value of processed food of EU countries. The independent variables included GDP, geographical distance between partners, differences of GDP per capita of exporters and importers as a proxy of the Linder hypothesis, membership in a preferential trade agreement, and being landlocked. Research confirmed the validity of the Linder hypothesis and the significance of geography and regional trade integration in shaping the export value of processed food of EU countries.

PENGARUH TEKNOLOGI TERHADAP PERTUMBUHAN EKONOMI

2021 ◽  
Vol 10 (2) ◽  
pp. 214-243
Author(s):  
Erni Setiawati ◽  
Wahyu Al Qoodir
Keyword(s):  
Economic Growth ◽  
Data Collection ◽  
Developed Countries ◽  
Modern Technology ◽  
Study Data ◽  
Gdp Per Capita ◽  
Academic Texts ◽  
Library Research ◽  
Per Capita ◽  
The Impact

The Effect of Technology on Economic Growth. The research objective was to qualitatively analyze the effect of technological progress on economic growth, as well as the positive and negative impacts of technological developments on the economy. The research model used is a qualitative research method, namely research based on theories contained in the literature, more in the nature of descriptive and narrative descriptions. The theoretical foundation is used as a guide. Data collection uses literature studies or library research (Library Research, which is a technique of gathering information through data collection by tracing important documents that are related and relevant to the object under study. Data and information are obtained from literature books, articles scientific research, theses, dissertations, encyclopedias, internet, and other sources Data and information obtained from library studies in the form of academic texts, photos, graphics, journals, policy briefs, or pamphlets, banners, and journalistic reports. data reduction, data presentation and drawing conclusions / verification The research results show that technology is very influential on the economy of a country. The economy is measured by Economic Growth or the value of GDP and GDP per capita. Developed countries (America, China, Japan, South Korea, Germany, Singapore) with their modern technology, their economic growth rate is always positive and stable, although it can experience negative growth, the growth gap is not too big. GDP per capita is very high. Likewise, poor and underdeveloped countries (African continent) have started to catch up by starting to make business innovations using modern technologies. The impact felt by their economy began to move up, marked by high economic growth (YoY GDP), GDP per capita also started to move up.   Keywords: technology, per capita income, economic growth, GDP

scholarly journals On the use of panel stationarity tests in convergence analysis: empirical evidence for the EU countries

Equilibrium ◽  
2016 ◽  
Vol 11 (1) ◽  
pp. 77 ◽  
Author(s):  
Mariusz Próchniak ◽  
Bartosz Witkowski
Keyword(s):  
Gdp Per Capita ◽  
Stochastic Convergence ◽  
Cross Sectional ◽  
Eu Countries ◽  
Per Capita ◽  
Cross Sectional Studies ◽  
The Cross ◽  
The Impact ◽  
Panel Stationarity ◽  
The Eu

The study examines the concept of stochastic convergence in the EU28 countries over the 1994–2013 period. The convergence of individual countries’ GDP per capita towards the EU28 average per capita income level and the pair-wise convergence between the GDP of individual countries are both analyzed. Additionally, we introduce our own concept of conditional stochastic convergence which is based on adjusted GDP per capita series in order to account for the impact of other growth factors on GDP. The analysis is based on time series techniques. To assess stationarity, ADF tests are used. The study shows that the process of stochastic convergence in the EU countries is not as widespread as the cross-sectional studies on b or s convergence indicate. Even if we extend the analysis to examine conditional stochastic convergence, the number of converging economies or pairs of countries rises, but not as much as it could be expected from the cross-sectional studies.

scholarly journals ICT and Economic Growth Nexus: Case of Central Asian Countries

2021 ◽  
Vol 1 ◽  
pp. 155-167
Author(s):  
Tursun Shodiev ◽  
Bakhodir Turayey ◽  
Kamoliddin Shodiyev
Keyword(s):  
Economic Growth ◽  
Developed Countries ◽  
Digital Economy ◽  
Gdp Per Capita ◽  
Asian Countries ◽  
Central Asian ◽  
Central Asian Countries ◽  
Per Capita ◽  
The Government ◽  
The Impact

The Government of Uzbekistan declared the year of 2020 as “The Year of Science, Education and Development of the Digital Economy” and is implementing the State Program, aiming at to liberalize the economy, improve market related incentives, encourage private enterprises, to reduce the role of the public sector by introducing ICT and Internet, developing digital economy. In order to understand the causal relationship between ICT investment and economic growth researchers have exert many effort in the world. The results are different: in developed countries the impact of ICT on economic growth is more powerful than in developing countries. This paper aims at finding and measuring causality between Economic growth and ICT development in emerging economies of Central Asian Countries by using panel data over  the period of  19 years  from 2000 – 2018. The research findings revealed that inflation, trade openness, final consumption expenditure and unemployment impact significantly on GDP per capita in Central Asian countries.  The econometric analysis showed  that ICT affects to GDP per capita positively and significantly: one percent increase in ICT contributes to GDP per capita 0.1669 percent (fixed broadband subscriptions) and 0.2218 percent (internet usage).Thus we concluded that information and communication technology together with economic indicators are key part of economic development in Central Asian countries. Reduction of inflation and unemployment allow expanding businesses, to create new job places in the digital economy.

The Reproduction Vector of the Russian Economy: 1999-2007

2008 ◽  
pp. 94-109 ◽  
Author(s):  
D. Sorokin
Keyword(s):  
Economic Policy ◽  
Human Capital ◽  
Growth Rates ◽  
Developed Countries ◽  
Gdp Per Capita ◽  
Real Sector ◽  
Russian Economy ◽  
Per Capita ◽  
The Developed Countries

The problem of the Russian economy’s growth rates is considered in the article in the context of Russia’s backwardness regarding GDP per capita in comparison with the developed countries. The author stresses the urgency of modernization of the real sector of the economy and the recovery of the country’s human capital. For reaching these goals short- or mid-term programs are not sufficient. Economic policy needs a long-term (15-20 years) strategy, otherwise Russia will be condemned to economic inertia and multiplying structural disproportions.

scholarly journals The Impact of Oil Price Shocks on National Income: Evidence from Azerbaijan

Energies ◽  
2021 ◽  
Vol 14 (6) ◽  
pp. 1695
Author(s):  
Shahriyar Mukhtarov ◽  
Sugra Humbatova ◽  
Mubariz Mammadli ◽  
Natig Gadim‒Oglu Hajiyev
Keyword(s):  
Exchange Rate ◽  
Oil Price ◽  
Gdp Per Capita ◽  
Oil Price Shocks ◽  
Price Shocks ◽  
Total Trade ◽  
Trade Turnover ◽  
Per Capita ◽  
The Exchange Rate ◽  
The Impact

This study investigates the influence of oil price shocks on GDP per capita, exchange rate, and total trade turnover in Azerbaijan using the Structural Vector Autoregressive (SVAR) method to data collected from 1992 to 2019. The estimation results of the SVAR method conclude that oil price shocks (rise in oil prices) affect GDP per capita and total trade turnover positively, whereas its influence on the exchange rate is negative in the case of Azerbaijan. According to results of this study, Azerbaijan and similar oil-exporting countries should reduce the dependence of GDP per capita, the exchange rate, and total trade turnover from oil resources and its prices in the global market. Therefore, these countries should attempt to the diversification of GDP per capita, the exchange rate, and other sources of total trade turnover.

scholarly journals Non-Price Criteria for the Evaluation of the Tender Offers in Public Procurement of Ukraine

2020 ◽  
Vol 8 (3) ◽  
pp. 44
Author(s):  
Alexander Baranovsky ◽  
Nataliia Tkachenko ◽  
Vladimer Glonti ◽  
Valentyna Levchenko ◽  
Kateryna Bogatyrova ◽  
...  
Keyword(s):  
Public Procurement ◽  
Well Being ◽  
Gdp Per Capita ◽  
Tender Offers ◽  
Product Categories ◽  
Per Capita ◽  
The Government ◽  
The Impact ◽  
Over Time ◽  
The Eu

Traditionally, public procurement has been associated with the measurement of achieving savings. However, recent research shows that the economic impact of public procurement is not limited only to savings, but by measuring the impact of four capitals—natural, human, social, and economic—on sustainable well-being over time. Ukraine is a country with a very low gross domestic product (GDP) per capita, which exacerbates the problem of the impact of public procurement results on the population’s welfare. Ukrainian public procurement legislation allows customers to apply non-price criteria (the share of non-price criteria cannot be more than 70%), which, together, are taken into account in the formula of the quoted price. The studies show that the effect of the use of non-price criteria depends on the relevance of the method of the evaluation of non-price criteria. The most important non-price criteria for Ukrainian customers by product categories and the methods of their evaluation are analyzed according to the Bi.prozorro.org analytics module. Therefore, it is concluded that the quoted price method, which is used in Ukrainian practice, is not relevant in comparison with the method used in the EU. A survey of the government buyers on the practice of applying non-price criteria was conducted, and the areas of their use were identified.

scholarly journals Canonical Correlation Analysis and a New Composite Index on Digitalization and Labor Force in the Context of the Industrial Revolution 4.0

2020 ◽  
Vol 12 (17) ◽  
pp. 6812
Author(s):  
Ane-Mari Androniceanu ◽  
Irina Georgescu ◽  
Manuela Tvaronavičienė ◽  
Armenia Androniceanu
Keyword(s):  
Correlation Analysis ◽  
Labor Force ◽  
Canonical Correlation Analysis ◽  
Canonical Correlation ◽  
Structural Changes ◽  
Industrial Revolution ◽  
Composite Index ◽  
Developed Countries ◽  
World Economic ◽  
The Impact

The current phenomenon of the economy-accelerated digitalization, known as the “Industry 4.0”, will generate both an increased productivity, connectivity and several transformations on the labor force skills. Our research objectives are to determine the influence that digitalization has had on the workforce in several developed countries and to propose a new composite indicator that reflects these dynamics over time. We have used the Canonical Correlation Analysis (CCA) in order to identify and analyze the correlations between two sets of variables, an independent one and a dependent one. Data were collected from the World Bank and World Economic Forum for the years 2018–2019. Based on the results of our research we have determined and made a consistent analysis of the new composite index of digitalization and labor force in 19 countries. The results of our research are relevant and show not only the impact of digitalization on the labor force in different countries, but also the structural changes required by the new economic and social models. Our research can help decision-makers get in advance the necessary measures in the field of labor force in order to ensure a proper integration of these measures into the new economic model based on digitalization.

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