scholarly journals EVALUATION OF THE MACROECONOMIC CONSEQUENCES OF NATURAL DISASTERS AND SUBSEQUENT DISCLOSURES IN THE FINANCIAL STATEMENTS ON THE EXAMPLE OF A CORONAVIRUS PANDEMIC

2020 ◽  
pp. 6-13
Author(s):  
R. Kuzina
Keyword(s):  
Economic Growth ◽  
Risk Management ◽  
Natural Disasters ◽  
Growth And Development ◽  
Financial Statements ◽  
Financial Resources ◽  
Economic Growth And Development ◽  
General Decline ◽  
The Impact

The article reviews the macroeconomic consequences of natural disasters based on the ECLAC methodology, which separates direct physical damage from indirect damage and additional or secondary effects. A study of the impact of natural disasters on long-term economic growth and development has shown that the scarcity of financial resources after a natural disaster reduces future growth and requires the disclosure of risks associated with dangerous natural phenomena for three reasons. Firstly, there are large opportunity costs associated with diverting scarce financial resources into relief and disaster recovery efforts. Secondly, natural disasters can damage an already complex budgeting process. Thirdly, natural disasters place high demands on international aid resources, diverting resources from development. Natural disasters have a negative impact on both the short and long term. These developments refute the somewhat simplistic notion of a general decline in vulnerability to natural disasters as the economy grows. Instead, a more sophisticated perspective needs to be adopted and applied when conducting detailed macroeconomic risk assessments. Based on the results of such assessments, the risks associated with natural hazards should be included in general development policies and plans. Risk management strategies should also reflect the fact that disasters occur in different hazard categories (climatic, geophysical or epidemic) and entail different risk reduction options. It is also necessary to assess the experience gained from specific events and, if necessary, take appropriate action. Disasters can cause policy and institutional innovation changes that ultimately benefit, in some cases, not only in reducing vulnerability but also in supporting economic growth and development: deregulating agricultural investment, applying climate forecasting to reduce the impact of climate variability, financial risk management mechanisms. In order to manage risks and mitigate the effects of natural disasters by informing users of financial statements about possible side effects of the pandemic, the issue of disclosure and recalculation of financial statements was considered to reflect the effects of coronavirus on companies and assess financial risks.

scholarly journals The Incidence of the Cost of Increasing the Capacity of an Urban Water System

1974 ◽  
Vol 3 (2) ◽  
pp. 151-161
Author(s):  
Frank Goode
Keyword(s):  
Economic Growth ◽  
Urban Communities ◽  
Growth And Development ◽  
Water System ◽  
The Good Life ◽  
Economic Growth And Development ◽  
Urban Water System ◽  
Rural And Urban ◽  
The Cost ◽  
The Impact

Rural and urban communities alike are adopting, formally or informally, “no-growth” policies. The residents of these communities share a set of beliefs concerning the impact of economic growth and development on their community. These residents also share a set of values concerning what constitutes the good life for them. The “no-growth” policies result because of a conflict between the values held by the residents and their beliefs concerning the impacts of economic growth and development. One of the beliefs shared by many of these residents is that economic growth and development will require an expansion of various public service systems such as water and sewer. In addition, these residents believe that they will be required to pay much of the cost involved in expanding the systems even though they will receive few, if any, of the benefits. In essence, the residents of these communities are concerned with the incidence of the cost of system expansion.

scholarly journals Foreign Aid and Economics Development Nexus: The Case of Sierra Leone

2021 ◽  
Vol 9 (6) ◽  
pp. 219-233
Author(s):  
Ezekiel Kalvin Duramany-Lakkoh
Keyword(s):  
Economic Growth ◽  
Foreign Aid ◽  
Sierra Leone ◽  
Growth And Development ◽  
Secondary Data ◽  
Empirical Estimation ◽  
Economic Growth And Development ◽  
Long Run ◽  
Short Run ◽  
The Impact

This study investigates the impact of foreign aid on economic growth in Sierra Leone using cointegration and error correction methodology by Johansen and Juselius (1990). Utilizing secondary data for the period 1970 to 2018, the empirical estimation revealed that foreign aid in Sierra Lone is positively and significantly related to economic growth both in the short run and long run, confirming the importance of the study. The policy implication of the study is that the Sierra Leone government should seek more foreign aid to accelerate economic growth and development.  

scholarly journals An Assessment of the Impact of the Tourism Sector on Regional Economic Development in Gauteng Province, South Africa

2021 ◽  
Author(s):  
Daniel F. Meyer
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Small Businesses ◽  
Growth And Development ◽  
Local Market ◽  
Gauteng Province ◽  
Economic Growth And Development ◽  
Tourism Sector ◽  
Effective Policy ◽  
The Impact

South Africa is facing three main developmental problems, including high levels of poverty, unemployment, and inequality. The tourism sector allows for a relatively easy entry into the local market for small businesses and entrepreneurs and has the potential to create jobs and subsequently, income. Tourism development could be utilised as a driver for economic growth and development. The main objective of this research was to assess the impact of the tourism sector on economic growth and development in South Africa, focusing on the Gauteng Province which, is the economic hub of the country and even Africa. The methodology utilised was based on a quantitative design, using secondary time series pooled panel data approach including, all the municipal entities in the region. Annual data from 2000 to 2019 were used to analyse the impact of tourism on economic growth and development. Tourism variables include measurements such as tourism spending and international tourism trips. Results confirm the tourism-growth nexus and the sector allows ease of market entry for small businesses, resulting in employment creation and income for the poor in developing regions if promoted via effective policy implementation, even in regions where tourism is not the leading sector.

scholarly journals Institutional obstacles to Brazil’s economic growth and development

2015 ◽  
pp. 7-16
Author(s):  
Werner Baer
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Exchange Rate ◽  
Research And Development ◽  
Educational System ◽  
Growth And Development ◽  
Economic Growth And Development ◽  
The Arts ◽  
Infrastructure Investments

This article tries to discover some of the roots behind Brazil’s slow economic growth. These include the generally low investment/GDP ratio, the country’s incapacity to implement timely infrastructure investments, the long-term overvalued exchange rate, the poverty of human capital, the incapacity to do state-of-the-arts research and development, and the weak educational system.

Does County Form of Government Impact Economic Growth and Development Trends? The Case of Four States

2016 ◽  
Vol 48 (3) ◽  
pp. 245-259 ◽  
Author(s):  
Stephanie A. Pink-Harper
Keyword(s):  
Economic Growth ◽  
Environmental Factors ◽  
Growth And Development ◽  
Ordinary Least Squares ◽  
Least Squares Regression ◽  
Development Trends ◽  
Economic Growth And Development ◽  
Form Of Government ◽  
Primary Focus ◽  
The Impact

Counties have expanded the scope of their activities in the economic development process. However, limited research exists of the factors that influence economic growth and development trends of these unique communities. The primary focus of this case study analysis is to determine whether form of government has an impact on county economic growth and development trends while controlling for environmental context and demographic characteristics in Alabama, Pennsylvania, Illinois, and Washington. To empirically test the impact that county form of government and environmental factors have on local economic growth and development trends, ordinary least squares regression is used. The results of this study show that form of government has only a marginal impact on county economic growth and development trends. County environmental factors are found to have a more substantive impact on the economic growth and development trends of counties across these four states.

scholarly journals What Are The Channels Through Which Bank Liquidity Creation Affects GDP? Evidence From an Emerging Country

SAGE Open ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 215824402110223
Author(s):  
Muhammad Umar ◽  
Muhammad Safdar Sial ◽  
Yan Xu
Keyword(s):  
Economic Growth ◽  
Growth And Development ◽  
Government Expenditure ◽  
Financial Intermediaries ◽  
Economic Growth And Development ◽  
Economic Output ◽  
Net Exports ◽  
Emerging Country ◽  
Chinese Banks ◽  
The Impact

Gross domestic product (GDP) depends on myriad factor and financial intermediaries especially banks play a very important role in economic growth and development of a country. They not only lend loans rather also generate liquidity—which is very important for the smooth functioning of an economy. Therefore, this study explores the channels through which bank liquidity creation affects GDP. It uses the data from listed and unlisted Chinese banks ranging from the year 2006 to 2017. The results of the analysis reveal that the liquidity creation by Chinese banks significantly negatively affects economic output. The magnitude of the impact of small-bank liquidity creation is greater than the large banks. Variation in the GDP is explained by current and previous year’s liquidity creation. Cat-fat measure of liquidity creation affects GDP directly as well as through consumption, investment, government expenditure, and net exports channels; however, cat-nonfat measure affects economic output directly and through all aforementioned channels except net exports. Overall, the findings support the hypothesis that liquidity creation affects the economy directly as well as through different channels.

scholarly journals Financing Human Development for Sectorial Growth: A Time Series Analysis

2017 ◽  
Vol 10 (1) ◽  
pp. 51-67 ◽  
Author(s):  
Abdul Olatunji Shobande ◽  
Charles Etukomeni
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Human Development ◽  
Growth And Development ◽  
Human Capital Development ◽  
Economic Growth And Development ◽  
Long Run ◽  
Depth Relationship ◽  
Capital Development ◽  
The Impact

Abstract The role which financing human development plays in fostering the sectorial growth of an economy cannot be undermined. It is a key instrument which can be utilized to alleviate poverty, create employment and ensure the sustenance of economic growth and development. Thus financing human development for sectorial growth has taken the center stage of economic growth and development strategies in most countries. In a constructive effort to examine the in-depth relationship between the variables in the Nigerian space, this paper provides evidence on the impact of financing human development and sectorial growth in Nigeria between 1982 and 2016, using the Johansen co-integration techniques to test for co-integration among the variables and the Vector Error Correction Model (VECM) to ascertain the speed of adjustment of the variables to their long run equilibrium position. The analysis shows that a long and short run relationship exists between financing human capital development and sectorial growth during the period reviewed. Therefore, the paper argues that for an active foundation for sustainable sectorial growth and development, financing human capital development across each unit is urgently required through increased budgetary allocation for both health and educational sectors since they are key components of human capital development in a nation.

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