Comparative analysis of the influence of oil and gas complex on economic growth in the macro–regions of the world

The paper discusses the problem of resource dependence in countries with high hydrocarbon production, export of resource. The aim of the study is to assess the impact of resource dependence factors and sustainable growth factors on economic growth of 41 countries, which are net oil and gas exporters, for the period 1990–2018 based on the analysis of panel data. Countries are classified by macro–regions, levels of economic development and democracy. The consequences in terms of sustainable economic growth were analyzed.

COMPARATIVE ANALYSIS OF THE INFLUENCE OF OIL AND GAS COMPLEX ON MACROECONOMIC INDEXES OF THE COUNTRIES OF THE WORLD

Interexpo GEO-Siberia ◽

10.33764/2618-981x-2019-2-5-273-279 ◽

2019 ◽

Vol 2 (5) ◽

pp. 273-279

Author(s):

Daria Cherepanova ◽

Svetlana Shumilova

Keyword(s):

Economic Growth ◽

Comparative Analysis ◽

Panel Data ◽

Resource Dependence ◽

Oil And Gas ◽

Resource Curse ◽

Oil Production ◽

The World ◽

Cross Country

Nowadays interest in the problem of the “resource curse” has increased. This article examines the patterns of functioning of the “resource curse” in 41 countries, classified by different groups of income and oil production for the period of 1990-2016, based on the analysis of panel data. The results of cross-country econometric studies of the effects of resource dependence are presented, the consequences in terms of economic growth were analyzed, and the situation taking place in Russia was estimated.

The Investments Efficiency Toward Economic Growth: ICOR of the Republic of Croatia and Slovenia - Comparative Analysis

Journal of Economic and Social Studies ◽

10.14706/jecoss21815 ◽

2021 ◽

Vol 8 (1) ◽

Author(s):

Jeton Mazllami ◽

Keyword(s):

Economic Growth ◽

Comparative Analysis ◽

Developed Countries ◽

Investment Efficiency ◽

Specific Objective ◽

National Economic ◽

The World ◽

Output Ratio ◽

The Republic ◽

Most developing and developed countries, today are faced with a lot of economic, social, and political challenges as a result of internal or external factors such as the World Financial Crisis and Covid19. In these circumstances, the crucial objective of any government is to improve the national economic performance by increasing domestics and foreign investments. Investments efficiency is the main pillar in the increase of the economic growth of any economy. This paper aims to measure the efficiency of the investments towards economic growth in the Republic of Croatia and Slovenia by applying a comparative analysis. The specific objective of our paper is to determine the best ICOR level, the correlation between ICOR and GDP, and the impact on the economic growth of both countries. The research methodology will include the analysis of the efficiency of the investment measured by the indicators Incremental Capital-Output Ratio (ICOR) based on the World Bank approach. The period of observation includes the period from the year 1995 to 2020. The investment efficiency (ICOR) in both countries is expected to move between 1 and 6. The findings of this research are that each one-point decrease of the ICOR level of Croatia increases the economic growth by 1.961 percent, while the ICOR level of Slovenia increases less the Economic growth by 0.259 percent.

Comparative analysis of USA and Chinese entrepreneurship: experience for Kazakhstan

The economy: strategy and practice ◽

10.51176/1997-9967-2021-2-86-97 ◽

2021 ◽

Vol 16 (2) ◽

pp. 86-97

Author(s):

A. M. Myrzakhmetova ◽

A. E. Mukhametzhan

Keyword(s):

United States ◽

Economic Growth ◽

Comparative Analysis ◽

Well Being ◽

The United States ◽

Entrepreneurial Activity ◽

Advantages And Disadvantages ◽

The World ◽

Effective Development ◽

Вusinesses are the backbone of the national economy and play an important role for the effective functioning of the economy of any country in the world. The authors studied the experience of the United States and China, in which small and medium-sized businesses have been successfully developing for a long time, both during periods of economic growth and during periods of economic recession.The purpose of the article is to study the features and conduct a comparative analysis of the organization of entrepreneurial activity in the United States and China, and, based on the experience of these countries, develop proposals for the effective development of entrepreneurship in Kazakhstan. The authors analyzed the dynamics and factors of the development of small and medium-sized businesses, the advantages and disadvantages of entrepreneurial activity in the United States and China, and identified the impact of the COVID-19 pandemic on entrepreneurial activity in these countries and in Kazakhstan. In the course of the study, various methods of scientific knowledge were used: data collection and processing, economic, comparative and statistical analysis, generalization, synthesis, induction, deduction. We collected and processed fresh quantitative data on the state and dynamics of the development of small and medium-sized enterprises in the United States and China in the period from 2011 to 2021.Small and medium business is an integral and important part of the economic development of all countries of the world, the experience of countries such as the United States and China can be useful and interesting for the Kazakh economy. Entrepreneurship performs a number of important socio-economic functions for the country: providing employment, creating a competitive environment, supporting and introducing innovations, reducing social inequality, attracting natural, human, material and technical resources into the production and commercial process, stimulating economic growth and improving the well-being of people.The authors, based on a study of the experience of entrepreneurial activities of two large leading countries of the world economy, have developed proposals that will contribute to the development of small and medium-sized businesses in the Republic of Kazakhstan.

The Educational Level of Rural Labor, Population Urbanization, and Sustainable Economic Growth in China

Sustainability ◽

10.3390/su12124860 ◽

2020 ◽

Vol 12 (12) ◽

pp. 4860 ◽

Cited By ~ 1

Author(s):

Shu Cao ◽

Nannan Yu ◽

Yang Wu ◽

Zihe Wang ◽

Jianing Mi

Keyword(s):

Economic Growth ◽

Basic Education ◽

Compulsory Education ◽

Education Level ◽

Sustainable Growth ◽

Rapid Urbanization ◽

Rural Labor ◽

Population Urbanization ◽

Since the 1978 economic reform, China has undergone a historical process of rapid urbanization. Although this process has been recognized as a key factor in the development of sustainable growth in China, low quality rural labor continues to limit the effectiveness of the country’s urbanization. Our study uses a spatial analysis framework to explore how the education level of rural laborers moderates the effect of urbanization on economic growth with provincial data collected from 1996 to 2015. Our results reveal that the influence of population urbanization on sustainable growth is mediated by the improvement of consumption capacity of urban dwellers and the industrial structural changes. The education level of rural laborers adjusts the urbanization’s influence on the consumption capacity of residents, which further affects economic growth. Empirical evidence indicates that the educationally limited rural population negatively moderates the impact of urbanization on sustainable economic growth by restraining the consumption capacity of migrating rural labor. It is also found that in some provinces with less-qualified rural labor, such as Gansu, Yunnan and Qinghai, population urbanization has not contributed to a corresponding economic growth, indicating that these provinces may have undergone urbanization without growth. These findings suggest that basic education is critical to the growth of income and consumption capacities of rural labor when laborers are migrating to urban areas. To achieve a valid urbanization process and sustainable growth, state and local governments must improve the basic education scheme, especially the nine-year compulsory education in Chinese rural areas through public financial investment and policy support.

Resource Price Fluctuations, Resource Dependence and Sustainable Growth

Sustainability ◽

10.3390/su11226371 ◽

2019 ◽

Vol 11 (22) ◽

pp. 6371 ◽

Cited By ~ 2

Author(s):

Hua Wang ◽

Shi Wang ◽

Cheng-Fu Yang ◽

Sheng-Nan Jiang ◽

Yun-Juan Li

Keyword(s):

Economic Growth ◽

Indirect Effects ◽

Capital Investment ◽

Resource Dependence ◽

Generalized Method Of Moments ◽

Resource Curse ◽

Sustainable Growth ◽

Price Fluctuations ◽

Transmission Mechanisms ◽

Sustainable Economic Growth

The previous literature on the resource curse has not taken resource price fluctuations into account. Using panel data covering the period from 1993 to 2017 from 28 provinces in China and dynamic generalized method of moments (GMM), this article takes a fresh look at the relationship between resource dependence and sustainable economic growth and the potential transmission mechanisms taking resource price fluctuations into consideration. We find that resource price fluctuations represent an important factor when researching the resource curse, and there is a U-shaped relationship between resource dependence and sustainable economic growth. However, over the past 20 years, provinces in China remained on the left of the U-shaped curve, and there is a single negative correlation between resource dependence and sustainable economic growth. This means that resource curse occurs in nearly all provinces in China. The analysis of transmission mechanisms of indirect effects taking resource price fluctuations into consideration shows that human capital investment and physical capital investment are more important than other mechanisms, and there are considerably more indirect effects than direct effects when taking into account the total effects of the resource curse.

INCLUSIVE GROWTH AND THE FREEDOM OF THE POOR

Commonwealth Youth and Development ◽

10.25159/1727-7140/1151 ◽

2016 ◽

Vol 13 (2) ◽

pp. 110-128

Author(s):

William Amone

Keyword(s):

Economic Growth ◽

Poverty Reduction ◽

Sustainable Growth ◽

Inclusive Growth ◽

The Poor ◽

Rapid Economic Growth ◽

The World ◽

Food Shortages ◽

Determinants Of Economic Growth

This article provides a discussion of economic growth and development, including new perceptions that have arisen. It covers the trending issues of inclusive growth, global poverty and the miraculous economic growth of the East Asian economies. The article identifies the major determinants of economic growth and the key objectives of economic development. It also acknowledges the fact that inclusive and sustainable economic growth is crucial for long-term poverty reduction, and that for growth to be effective in reducing poverty it must be broad-based, targeting the poor or those formerly bypassed by development. Although most regions of the world are achieving rapid economic growth, poverty, unemployment and food shortages seem to be persisting. Inequality and social exclusion are even rising in many countries. Women remain most affected globally in all forms of afflictions. Despite the global advocacy for inclusive growth by the World Bank, IMF, WTO , WHO and OECD, many developing countries are yet to appreciate the concept and to achieve holistic sustainable growth that benefits all people. Asia seems to have witnessed more stable and inclusive growth than other developing regions in the past four decades.

Convergent technologies as trend in oil and gas industry development

VESTNIK OF ASTRAKHAN STATE TECHNICAL UNIVERSITY ◽

10.24143/1812-9498-2020-2-14-20 ◽

2020 ◽

Vol 2020 (2) ◽

pp. 14-20

Author(s):

Nikolay Alekseevich Tyukov ◽

Andrew Alexeyevich Tyukov ◽

Salam El'shan-ogly Geydarov ◽

Vladimir Sergeevich Kudryashov ◽

Anna Leonidovna Nemchinova

Keyword(s):

Information Technologies ◽

Oil And Gas ◽

Oil And Gas Industry ◽

Gas Production ◽

Hydrocarbon Production ◽

Oil And Gas Production ◽

Use Of Resources ◽

Advanced Technologies ◽

The World ◽

The article describes the extraction of hydrocarbons as the main source of energy in the world that requires careful control. The control is achieved by means of the advanced technologies that ensure a more rational and efficient use of resources. Technologies that have received great development in related areas of industry have a great perspective for the development of any industry as a whole. The influence of convergent technologies on the advanced technologies in the oil industry has been stated. The impact of the convergent technologies development on the oil and gas complex in the world, as well as the main problems facing the field of hydrocarbon production have been considered. The trends in convergent technologies in oil and gas production are presented: nanotechnology, biotechnology, information technology. The main examples of implemented projects of convergent technologies directly in oil fields are considered. The main ways of introducing nano-, bio- and information technologies in the hydrocarbon industry have been identified, the typical cases of their application were defined, as well as the further prospect of introducing these technologies not only in formations, wells, but also at subsequent stages of the use of hydrocarbons.

Impact of the oil and gas industry on the economy of producing countries

St Petersburg University Journal of Economic Studies ◽

10.21638/spbu05.2020.407 ◽

2020 ◽

Vol 36 (4) ◽

pp. 693-718

Author(s):

Irina Filimonova ◽

◽

Leonty Eder ◽

Irina Provornaya ◽

Daria Cherepanova ◽

...

Keyword(s):

Economic Growth ◽

Sustainable Development ◽

Panel Data ◽

Resource Dependence ◽

Oil And Gas ◽

Raw Materials ◽

Panel Data Analysis ◽

Green Energy ◽

Sustainable Growth ◽

Resource Rent

This paper discusses in detail the resource dependency of economies in countries with a high level of hydrocarbon production and income from the export of raw materials; the consequences associated with “resource dependence”; and reasons for their occurrence, as well as possible ways to overcome them. The authors establish the fact that in recent years there has been a “negative” multiplicative effect from the development of Russia’s oil and gas complex. Therefore, the goal is to identify factors of “resource dependence” that contribute to economic growth, to generalize the results of the study at the global level for key oil-exporting countries, and to draw conclusions for the Russian economy. As a methodological basis for the study, a panel data analysis method was chosen, which allows for taking into account the influence of both the dynamics and structure of changes in resource dependence factors in a regional context. The informational basis of the study was made by countries exporting hydrocarbon raw materials and classified by macro-regions, level of economic development, and degree of development of democracy. According to the analysis of panel data, the influence of resource dependence factors is not always of high importance on the economy of oil-exporting countries. The economic growth of many countries is more dependent on factors of sustainable growth that are consistent with the goals of sustainable development. The study allows us to conclude that it is advisable for countries that are currently in a condition of resource dependence to revise their development policies in the direction of differentiating the economy, primarily using the advantages of resource rent for the development of processing and manufacturing industries, as well as for the development of green energy. The results of the study can provide an analytical basis for discussions on the effective development of the oil and gas complex of Russia and the world, taking into account modern challenges and threats to sustainable development.

Approaching Monetary Integration in the Context of the Imperative to Ensure the Sustainable Growth in the EU

Sustainability ◽

10.3390/su12177065 ◽

2020 ◽

Vol 12 (17) ◽

pp. 7065

Author(s):

Ionel Bostan ◽

Otilia-Roxana Oprea ◽

Ovidiu Stoica

Keyword(s):

Economic Growth ◽

Interest Rates ◽

Fixed Effects ◽

Financial Integration ◽

Sustainable Growth ◽

Monetary Integration ◽

The European Union ◽

The Impact ◽

The Eu

Sustainable economic growth is an essential objective at the European Union level. The purpose of this paper is to investigate the impact of monetary integration on economic growth, assuming that the introduction of the euro significantly stimulated the process of European financial integration. We used a fixed-effects methodology for panel data for the EU 28 countries for the period 2004–2018. We find that the main factors through which monetary integration contributessignificantly and positively to economic growth areeconomic growth Single Euro Payments Area (SEPA)cards, trade, monetary freedom, convergence of interest rates, convergence of exchange rates and cross-border holdings of short-term debt, with significant differences between Eurozone and non-euro countries, which confirms the hypothesis that the introduction of the euro had a significant impact on economic and financial integration.

The Impact of the Openness of Firms’ External Search Strategies on Exploratory Innovation and Exploitative Innovation

Sustainability ◽

10.3390/su11184858 ◽

2019 ◽

Vol 11 (18) ◽

pp. 4858 ◽

Cited By ~ 2

Author(s):

Mingfeng Tang ◽

Peng Xu ◽

Patrick Llerena ◽

Asghar Afshar Jahanshahi

Keyword(s):

Economic Growth ◽

Human Resources ◽

Search Strategies ◽

Manufacturing Firms ◽

Manufacturing Companies ◽

Innovation Activities ◽

The World ◽

The Impact ◽

Exploratory Innovation

Innovation activities of private firms are crucial for sustainable economic growth in every society. Therefore, the majority of firms around the world spend large amounts of capital (money, time, and human resources) in searching for novel innovative opportunities in the marketplace. In our study, we sought to understand how the openness of firms’ external search strategies (external search breadth and external search depth) affects firms’ innovation capabilities as measured by awareness, decision-making, interpretation, and implementation capability. Furthermore, using survey data collected from 112 Chinese manufacturing firms over a six-month period, this study conducted an empirical analysis about the association between firms’ innovation capabilities on the type of innovation (exploratory innovation vs. exploitative innovation). This study also provides important managerial insights for manufacturing companies.