scholarly journals TERMS OF TRADE AND INDUSTRIALIZATION: REALITIES IN UKRAINE

2020 ◽  
pp. 21-34
Author(s):  
Olena Bazhenova ◽  
Ihor Chornodid
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Industrial Development ◽  
Value Added ◽  
Terms Of Trade ◽  
Gdp Per Capita ◽  
Annual Growth Rate ◽  
Vector Autoregressive ◽  
Per Capita ◽  
The Impact

he paper explores the impact of terms of trade on the industrialization and economic growth in Ukraine due to significant vulnerability of national economy to foreign economic shocks, its openness and mainly commodity structure of exports. In this research we have chosen manufacturing value added as percent in GDP to identify periods of industrialization, as its growth corresponds to periods of accelerated industrial development and vice versa. Also we considered GDP per capita as indicator of national economy’s performance. The changes in terms of trade were investigated based on the analysis of terms of trade adjustments, which are determined by the ability to import goods and services minus exports at constant prices. As an empirical research tool vector autoregressive models have been chosen to explore the relationship between endogenous and exogenous variables in dynamics. Thus, the endogenous variables in the model are the annual growth rate of GDP per capita, manufacturing value added and terms of trade adjustments in 1991-2018. Therefore, the first-order vector autoregression model was constructed to examine this relationship. According to the results of research, acceleration of terms of trade adjustments growth rate (deterioration of terms of trade) in Ukraine leads to fluctuations in the manufacturing value added growth with an increase of almost 3% in the second period and further declining. It indicates an increase in industrial production in response to the deterioration of terms of trade in the short run and possible intensification of innovative economic growth triggers. Fluctuations in manufacturing value added account for from almost 7% to 14% in fluctuations of GDP per capita growth. In turn, fluctuations in terms of trade adjustments account for only from 3% to almost 5%. At the same time, fluctuations in manufacturing value added from 8% to 13% are explained by fluctuations in terms of trade adjustments.

scholarly journals The Adverse Impact of Air Pollution on China’s Economic Growth

2021 ◽  
Vol 13 (16) ◽  
pp. 9056
Author(s):  
Daxin Dong ◽  
Boyang Xu ◽  
Ning Shen ◽  
Qian He
Keyword(s):  
Economic Growth ◽  
Air Pollution ◽  
Growth Rate ◽  
Instrumental Variables ◽  
Gdp Per Capita ◽  
Annual Growth Rate ◽  
Instrumental Variables Estimation ◽  
Study Results ◽  
Per Capita ◽  
The Impact

This study empirically evaluates the impact of air pollution on China’s economic growth, based on a province-level sample for the period 2002–2017. Air pollution is measured by the concentration of fine particulate matter (PM2.5), and economic growth is measured by the annual growth rate of gross domestic product (GDP) per capita. A panel data fixed-effects regression model is built, and the instrumental variables estimation method is utilized for quantitative analyses. The study reports a significant negative impact of air pollution on the macroeconomic growth of China. According to our instrumental variables estimation, holding other factors constant, if the concentration of PM2.5 increases by 1%, then the GDP per capita growth rate will decline by 0.05818 percentage points. In addition, it is found that the adverse effect of atmospheric pollution is heterogeneous across different regions. The effect is stronger in the eastern region and in provinces with smaller state-owned enterprise shares, fewer governmental expenditures for public health services, and fewer medical resources. The study results reveal that air pollution poses a substantial threat to the sustainable economic growth of China. Taking actions to abate air pollution will generate great economic benefits, especially for those regions which are heavily damaged by pollution.

scholarly journals The influence of demographic factors on the economic development of the Azerbaijan: the interconnection problem

2020 ◽  
Vol 10 (2) ◽  
Author(s):  
Saleh Nagiyev
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Economic Development ◽  
18Th Century ◽  
Demographic Factors ◽  
Gdp Per Capita ◽  
Gdp Growth ◽  
World Population ◽  
Per Capita ◽  
The Impact

Demographic factors have sometimes occupied center-stage in the discussion of the sources of economic growth. In the 18th century, Thomas Malthus made the pessimistic forecast that GDP growth per capita would fall due to a continued rapid increase in world population. There is a straightforward accounting relationship when identifying the sources of economic growth: Growth Rate of GDP = Growth Rate of Population + Growth Rate of GDP per capita, where GDP per capita is simply GDP divided by population. This article examines the interconnection between economic development and the demographic policy of Azerbaijan. The article analyzes various approaches of the impact of demographic factors on the economic development of a country. The following demographic factors have been identified and described as significant for the economic development: fertility dynamics, mortality dynamics, population size and gender and age structure.

scholarly journals Impact of COVID-19 on China's macroeconomy and agri-food system – an economy-wide multiplier model analysis

2020 ◽  
Vol 12 (3) ◽  
pp. 387-407 ◽  
Author(s):  
Yumei Zhang ◽  
Xinshen Diao ◽  
Kevin Z. Chen ◽  
Sherman Robinson ◽  
Shenggen Fan
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Food System ◽  
Job Creation ◽  
Value Added ◽  
Annual Growth Rate ◽  
Export Demand ◽  
Potential Cost ◽  
Content Type ◽  
The Impact

PurposeThe purpose of this study is to assess the potential economic cost of the COVID-19 pandemic on China's macroeconomy and agri-food system and provide policy recommendations to stimulate economic growth and agri-food system development.Design/methodology/approachAn economy-wide multisector multiplier model built on China's most recent social accounting matrix (SAM) for 2017 with 149 economic sectors is used to assess the impact of COVID-19 on China's macroeconomy and agri-food system. SAM multiplier analysis focuses on supply chain linkages and captures the complexity of an interconnected economy.FindingsThe paper finds that both the macroeconomy and agri-food systems are hit significantly by COVID-19. There are three main findings. First, affected by COVID-19, GDP decreased by 6.8% in the first quarter of 2020 compared with that in 2019, while the economic loss of the agri-food system is equivalent to 7% of its value added (about RMB 0.26 trillion). More than 46m agri-food system workers (about 27% of total employment) lost their jobs to COVID-19 in the lockdown phase. The COVID-19 affects the employment of unskilled labor more than that of skilled labor. Second, when the economy starts to recover during the second and third quarters, the growth rate in the value added of the agri-food system turns positive but still modest. Many jobs resume during the period, but the level of agri-food system employment continues to be lower than the base. The agri-food system employment recovery is slower than that of other sectors largely due to the sluggish recovery of restaurants. Agri-food system employment drops by 8.6m, which accounts for about 33% of the total jobs lost. Third, although the domestic economy is expected to be normal in the fourth quarter, external demand still faces uncertainties due to the global pandemic. The agri-food system is projected to grow by 1.1% annually in 2020 with resuming export demand, while only by 0.4% without resuming export demand. These rates are much lower than an annual growth rate of 4.3% for the agri-food system in 2019. The results also show that, without resuming export demand, China's total economy will grow less than 1% in 2020, while, with export demand resumed, the growth rate rises to 1.7%. These rates are much lower than an annual GDP growth rate of 6.1% in 2019.Practical implicationsThe results show that continuously reducing economic dependency on exports and stimulating domestic demand are key areas that require policy support. The agri-food system can play an important role in supporting broad economic growth and job creation as SMEs are major part of the AFS. Job creation requires policies to promote innovation by entrepreneurs who run numerous SMEs in China.Originality/valueThis paper represents the first systematic study assessing the impact of COVID-19 on China's agri-food system in terms of value added and employment. The assessment considers three phases of lockdown, recovery and normal phases in order to capture the full potential cost of COVID-19.

scholarly journals Educación superior y crecimiento económico en Colombia (1971-2016): una relación de cointegración.

2018 ◽  
Author(s):  
Brayan Alexander Baron Ortegon
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Growth Rate ◽  
Human Capital ◽  
Tertiary Education ◽  
Gdp Per Capita ◽  
Vec Model ◽  
Long Run ◽  
Per Capita ◽  
The Impact

This article analyzes the relation between GDP per capita (CPIBpc) and access to tertiary education, seen from the perspective of growth rate of the number of enrollments (TCMes) in higher education in Colombia for the period (1971-2016). By using a VEC model and assuming everything else constant, it is concluded that TCMes Granger caused the Colombian GDP per capita and vice-versa, therefore, the existence of a long run relation between both variables is verified. This result helps to explain the dynamics of Colombian economic growth per capita of the last forty-five years and the impact of the accumulation of human capital on it.

Measuring the Impact of Tourism on Economic Growth

2007 ◽  
Vol 13 (3) ◽  
pp. 379-388 ◽  
Author(s):  
Stanislav Ivanov ◽  
Craig Webster
Keyword(s):  
Economic Growth ◽  
General Equilibrium ◽  
Computable General Equilibrium ◽  
Gdp Per Capita ◽  
Equilibrium Models ◽  
Computable General Equilibrium Models ◽  
Real Gdp ◽  
Real Gdp Per Capita ◽  
Per Capita ◽  
The Impact

This paper presents a methodology for measuring the contribution of tourism to an economy's growth, which is tested with data for Cyprus, Greece and Spain. The authors use the growth of real GDP per capita as a measure of economic growth and disaggregate it into economic growth generated by tourism and economic growth generated by other industries. The methodology is compared with other existing methodologies; namely, Tourism Satellite Account, Computable General Equilibrium models and econometric modelling of economic growth.

scholarly journals THE CONTRIBUTION OF MIGRATION TO ECONOMIC GROWTH: THE EXAMPLE OF THE CITY OF ZAGREB

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Vinko Miličević ◽  
Danijel Knežević ◽  
Zoran Bubaš
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Economic Activity ◽  
Economic Benefits ◽  
Gdp Per Capita ◽  
The European Union ◽  
Per Capita ◽  
The Republic ◽  
The Impact ◽  
The City

The problems in this paper belong to the field of migration and economy. The connection between migration and the economy has been proven on a global level, and as far as the Republic of Croatia is concerned, it is especially important to observe it through the City of Zagreb, which is the most important migration and economic center in the Republic of Croatia. Also, the accession of the Republic of Croatia to the European Union emphasized the observation and research of this connection because it created the preconditions for freer movement and employment of the population of the Republic of Croatia and the City of Zagreb within the European Union. The aim of this paper is to determine the contribution of migration to the economic growth of the City of Zagreb. The hypothesis presented in the paper is that there is a significant contribution of migration to the economic growth of the City of Zagreb. The disposition of the paper consists of six parts. The introduction explains the relevance of the topic, states the aim of the paper and hypotheses, explains the empirical part, the contribution of the paper and the disposition. The second part of the paper refers to the theoretical framework of the impact of migration on economic growth. The third part of the paper presents the migration processes of the City of Zagreb in the period from 2011 to 2018. The fourth part deals with economic activity in the City of Zagreb in the period from 2011 to 2017. The observed indicators of economic activity in the City of Zagreb are GDP and GDP per capita, and the graph in this part of the paper shows that GDP and GDP per capita in the observed period are higher at the end of the period than at the beginning. The fifth part of the paper refers to the empirical research of the contribution of migration to the economic growth of the City of Zagreb. The empirical part of the paper is based on correlations and regression analyses. This paper proves the hypothesis because the results indicate a significant impact of the variables of total and external migration on the GDP of the City of Zagreb and GDP per capita of the City of Zagreb. Decision-makers in the City of Zagreb can use the results of the research as a basis for maximizing the economic benefits they can get from migration. The conclusion provides an overview of the aim of the work, the results of the research, the limitations, the implications and the recommendations for future research.

scholarly journals The Evolution of Economic Activity in the Rural Area of Region 2 South - East

2021 ◽  
Vol 95 ◽  
pp. 01007
Author(s):  
Daniela – Lavinia Balasan ◽  
Dragoş Horia Buhociu
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Economic Development ◽  
Economic Activity ◽  
Labour Force ◽  
Standard Of Living ◽  
Economic Growth Rate ◽  
Current State ◽  
Per Capita ◽  
The Impact

When we talk about economic development, we can refer to improve the standard of living and the prosperity of the population. This is due by increasing per capita income. In order to analyze economic activity, severe indicators must be studied, namely productivity, economic growth rate, labour force share, gross domestic product. In order to carry out as accurate an analysis as possible, it is required to discover the bottlenecks and problems that Region 2 South East makes and to develop a set of reservations and indications leading to the reduction and, why not, the removal of negative aspects. The main purpose of this work is to achieve a strategic plan by studying the current state and the impact of the economic system in recent times in all its forms, with a view to the development of the countryside of Region 2 South – East. I set out to create a website based on the advice of small rural entrepreneurs that evolves gathering information in realistically identifying all the strengths and concentrating them in the region’s potential innovation.

scholarly journals Trade Openness and Economic Growth Nexus: A Case Study of BRICS

2018 ◽  
Vol 54 (1) ◽  
pp. 1-15 ◽  
Author(s):  
L. G. Burange ◽  
Rucha R. Ranadive ◽  
Neha N. Karnik
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Causal Relationship ◽  
Trade Openness ◽  
Gdp Per Capita ◽  
Jel Codes ◽  
Per Capita ◽  
The Impact ◽  
Econometric Technique

The article analyses a causal relationship between trade openness and economic growth for the member countries of BRICS by using an econometric technique of time series analysis. Member countries of BRICS adopted a series of liberalization reforms, almost simultaneously, from the late 1980s. The article attempts to study the impact of trade openness on their growth in GDP per capita. It captures structural composition of GDP and openness of trade in four aspects, that is, merchandise exports, merchandise imports, services export and services import. In India, the study found growth-led trade in services hypothesis. The article supports the growth-led export and growth-led import hypothesis for China and export- and import-led growth for South Africa. However, no causal relationship was evident for Brazil and Russia. JEL Codes: F43, C22

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.

scholarly journals PERTUMBUHAN PENDUDUK, INFLASI DAN KORUPSI: ANALISIS EMPIRIS ENVIRONMENTAL KUZNETS CURVE (EKC) DI KAWASAN ASEAN PERIODE 2002-2016

2019 ◽  
Vol 1 (3) ◽  
pp. 71
Author(s):  
Muhammad Fajri Setia Trianto ◽  
Evi Yulia Purwanti
Keyword(s):  
Economic Growth ◽  
Population Growth ◽  
Co2 Emissions ◽  
Environmental Kuznets Curve ◽  
Secondary Data ◽  
Gdp Per Capita ◽  
Environmental Damage ◽  
Kuznets Curve ◽  
Per Capita ◽  
The Impact

The economy that continues to grow has the impact of environmental damage. This study aims to prove empirically the Environmental Kuznets Curve (EKC) hypothesis by analyzing the relationship of economic growth with environmental damage as measured by GDP per capita, and CO2 emissions. The data used are secondary data in the form of data on GDP per capita, CO2 emissions, population growth, inflation, and control of corruption in 10 countries in the ASEAN region in 2002-2016. Data analysis using the Fixed Effect model. The results show that there is a relationship between economic growth and environmental damage that forms an inverted U curve. Economic growth will initially have a positive effect on environmental damage so that at a point of economic growth negatively affects environmental damage. By adding control variables: population growth, inflation and corruption, inflation and corruption positively impact environmental damage, while population negatively affect environmental damage.

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