scholarly journals Impact of Government Debt on Economic Growth in Kenya: A Critical Literature Review

2018 ◽  
Vol 14 (1) ◽  
pp. 240
Author(s):  
Silveria Mukwandiga Murungi ◽  
Kennedy Okiro
Keyword(s):  
Economic Growth ◽  
Literature Review ◽  
Government Debt ◽  
Joint Effect ◽  
Empirical Literature ◽  
Macroeconomic Variables ◽  
The Impact ◽  
The Relationship ◽  
Critical Literature ◽  
Regulatory Reforms

The study examined the impact of government debt on economic growth through extensive review of relevant theoretical and empirical literature. Governments borrow to cover budget deficits. The debt is obtained either from the domestic market or from external sources. Government debt by Greece proved to be bad for the economy while government debt by USA which has the highest debt in the world proved to be manageable. This led to the need to examine the impact of government debt on economic growth in Kenya. The major theories examined included Adolph Wagner’s law of increasing state activity, the debt overhang theory, crowding out theory and the Ricardian equivalence theory. The main objective of the critical literature review was to review the literature done on the impact of government debt on economic growth while the specific objectives were to examine the impact of government debt on economic growth, to investigate the effects of macroeconomic variables on the relationship between government debt and economic growth, to establish the effects of regulatory reforms on the relationship between government debt and economic growth, and to review the joint effect of macroeconomic variables and regulatory reforms on government debt and economic growth. The majority of the findings from the literature reviewed on government debt indicated that there was an impact of government debt on economic growth; some showed a positive economic growth while others showed a negative economic growth.

scholarly journals The Impact of Public Expenditure on Economic Growth: A Review of International Literature

2019 ◽  
Vol 19 (2) ◽  
pp. 81-101
Author(s):  
Sheilla Nyasha ◽  
Nicholas M. Odhiambo
Keyword(s):  
Economic Growth ◽  
Empirical Evidence ◽  
Government Spending ◽  
Public Expenditure ◽  
Negative Impact ◽  
Positive Impact ◽  
Government Expenditure ◽  
Empirical Literature ◽  
The Impact ◽  
The Relationship

Abstract Research background: Although a number of studies have been conducted on the relationship between public expenditure and economic growth, it is difficult to tell with certainty whether or not an increase in public expenditure is good for economic growth. This lack of consensus on the results of the previous empirical findings makes this study of paramount importance as we take stock of the available empirical evidence from the 1980s to date. Purpose: In this paper, theoretical and empirical literature on the relationship between government expenditure and economic growth has been reviewed in detail. Focus was placed on the review of literature that assessed the impact of government spending on economic growth. Research Methodology: This study grouped studies on the impact of public expenditure on economic growth based on their results. Three groups emerged – positive impact, negative impact and no impact. This was followed by a review of each relevant study and an evaluation of which outcome was more prevalent among the existing studies on the subject. Results: The literature reviewed has shown that the impact of government spending on economic growth is not clear cut. It varies from positive to negative; with some studies even finding no impact. Although the impact of government spending on economic growth was found to be inconclusive, the scale tilts towards a positive impact. Novelty: The study provides an insight into the relationship between public expenditure and economic growth based on a comprehensive review of previous empirical evidence across various countries since the 1980s.

Export, Political Stability, and Growth in Developing-8 Countries

2021 ◽  
Vol 39 (2) ◽  
Author(s):  
Mohammad Nur Rianto Al Arif ◽  
Arisman Arisman ◽  
Darwis Harahap
Keyword(s):  
Economic Growth ◽  
Current Issue ◽  
Political Stability ◽  
Empirical Literature ◽  
Economic Factors ◽  
Accelerate Growth ◽  
The Government ◽  
The Impact ◽  
The Relationship ◽  
A Current

The relationship between growth in export and economic growth is still a current issue in both the theoretical and empirical literature. Besides, there are also non-economic factors that determine economic growth in a country, namely political stability. This study aims to examine the impact of export and political stability on economic growth in D8 member countries. The research on the development of the D8 country's economy is still minimal, so this research expected to be able to contribute to drafting policies for D8 member countries. By using panel regression, this research finds that there is no impact between export on economic growth. However, political stability had an impact on economic growth in developing-8 countries. This result implies that the government should increase political stability to accelerate growth

scholarly journals Export, Political Stability, and Growth in Developing-8 Countries

2020 ◽  
Vol 39 (1) ◽  
Author(s):  
Mohammad Nur Rianto Al Arif ◽  
Arisman Arisman ◽  
Darwis Harahap
Keyword(s):  
Economic Growth ◽  
Current Issue ◽  
Political Stability ◽  
Empirical Literature ◽  
Economic Factors ◽  
Accelerate Growth ◽  
The Government ◽  
The Impact ◽  
The Relationship ◽  
A Current

The relationship between growth in export and economic growth is still a current issue in both the theoretical and empirical literature. Besides, there are also non-economic factors that determine economic growth in a country, namely political stability. This study aims to examine the impact of export and political stability on economic growth in D8 member countries. The research on the development of the D8 country's economy is still minimal, so this research expected to be able to contribute to drafting policies for D8 member countries. By using panel regression, this research finds that there is no impact between export on economic growth. However, political stability had an impact on economic growth in developing-8 countries. This result implies that the government should increase political stability to accelerate growth

scholarly journals The Impact of Financial Development on Investment: a Review of International Literature

2018 ◽  
Vol 9 (2) ◽  
pp. 167-192
Author(s):  
Brian Muyambiri ◽  
Nicholas M. Odhiambo
Keyword(s):  
Empirical Research ◽  
Financial Development ◽  
Empirical Literature ◽  
International Literature ◽  
Macroeconomic Variables ◽  
Development Indicators ◽  
Investment Determinants ◽  
Topical Analysis ◽  
The Impact ◽  
The Relationship

This article summarises the empirical literature on the impact of financial development on investment. It presents a topical analysis of empirical research that focuses mainly on the interaction between financial development and investment, determinants and measurement of both financial development and investment, and empirical findings on the relationship between the two variables under discussion. The study concludes that most of the research done on the relationship between financial development and investment is highly skewed towards assessing the relationship using mostly bank-based financial development indicators, as compared to the market-based financial development indicators. Given the number of studies assessed, the impact of financial development on investment appears to be inconclusive, at best. Moreover, the study shows that the relationship between these two macroeconomic variables seems to differ from country to country; it is dependent on the proxies used to measure the level of financial development, as well as the methodology employed.

scholarly journals The Impact of Financial Development on Investment: A Review of International Literature

2018 ◽  
Vol 9 (2) ◽  
pp. 167-192
Author(s):  
Brian Muyambiri ◽  
Nicholas M. Odhiambo
Keyword(s):  
Full Article ◽  
Empirical Research ◽  
Financial Development ◽  
Empirical Literature ◽  
International Literature ◽  
Macroeconomic Variables ◽  
Development Indicators ◽  
Investment Determinants ◽  
The Impact ◽  
The Relationship

[full article and abstract in English] This article summarises the empirical literature on the impact of financial development on investment. It presents a topical analysis of empirical research that focuses mainly on the interaction between financial development and investment, determinants and measurement of both financial development and investment, and empirical findings on the relationship between the two variables under discussion. The study concludes that most of the research done on the relationship between financial development and investment is highly skewed towards assessing the relationship using mostly bank-based financial development indicators, as compared to the market-based financial development indicators. Given the number of studies assessed, the impact of financial development on investment appears to be inconclusive, at best. Moreover, the study shows that the relationship between these two macroeconomic variables seems to differ from country to country; it is dependent on the proxies used to measure the level of financial development, as well as the methodology employed.

The Impact of Public Debt on Economic Growth: A Review of Contemporary Literature

2018 ◽  
Vol 45 (4) ◽  
pp. 339-357
Author(s):  
Talknice Saungweme ◽  
Nicholas M. Odhiambo
Keyword(s):  
Economic Growth ◽  
Public Debt ◽  
Positive Impact ◽  
Empirical Studies ◽  
Theoretical Models ◽  
Empirical Literature ◽  
Long Run ◽  
Negative Effect ◽  
The Impact ◽  
The Relationship

This article provides a detailed survey of existing theoretical and empirical literature on the impact of public debt on economic growth in both developing and developed economies. The aim of the article is to add to the existing debate on the relationship between public debt and economic growth in world economies. The survey finds diverse and, in some cases, inconsistent evidence on the relative impact of public debt on economic growth. Although the majority of the surveyed literature supports the negative effect of public debt on economic growth, several other studies have found a long-run positive impact of public debt on economic growth through the fiscal multiplier effect. The article also found that a few other studies support the Ricardian Equivalence Hypothesis (REH), which states that the relationship between public debt and economic growth is nonexistent. On balance, the article also found that there is a growing body of empirical evidence, which supports the presence of threshold effects in the relationship between public debt and economic growth. Overall, it concludes that theoretical models and empirical studies yield inconclusive results depending on a set of heterogeneous factors, including the level of development of the sampled countries, data coverage, methodology used, and the researchers’ choice of control variables, among other factors. This literature survey differs predominantly from other earlier studies in that it provides a comprehensive review of the linkage between government debt and economic growth, in addition to disentangling public debt into two components, domestic and foreign, and expounding on their relative effects on economic growth.

scholarly journals IMPACT OF ENVIRONMENTAL NOISE ON INDIVIDUAL HEARING PROBLEMS. A CRITICAL LITERATURE REVIEW

2021 ◽  
Vol 1 (1) ◽  
pp. 61-72
Author(s):  
JAMES OLUBWA
Keyword(s):  
Literature Review ◽  
Positive Impact ◽  
Environmental Noise ◽  
Empirical Literature ◽  
Normal Person ◽  
Sound Levels ◽  
Extent Of Damage ◽  
The Impact ◽  
Critical Literature ◽  
Hearing Problems

Purpose: A normal person cannot perceive sound to its minimum level of 0 dB or the sound of rustling leaves. Persons with excellent hearing capabilities can receive sound levels as low as 15 dB. On the higher end, sound levels that exceed 85 dB can cause damage as bad as permanent hearing damage. The period spent around loud sound determines the extent of damage that will occur. The calmer the sound, the longer one can withstand it without any alarming effect. The general objective of the study was to access the impact of environmental noise on individual hearing problems. A critical literature review Methodology: The paper used a desk study review methodology where relevant empirical literature was reviewed to identify main themes and to extract knowledge gaps. Findings: The study concludes that safety practices that can assist in preventing hearing losses and other harmful effects call for personal, physician, and administrative engagement. Administratively, employers have an obligation to provide safety devices that prevent hearing loss or impairment. Employers should provide personal protective equipment to abate noise levels and that employers should give all employees an opportunity select hearing protectors that vary from entire head enclosures, canal caps, earplugs, to ear mugs. Recommendations: The study suggested that that personal hearing protective devices use should be enforced through education and inbuilt administrative mechanisms. Only consistent long term use of prevention produces positive impact. It is also recommended that utilization of safety strategies like shift rotations, leave scheduling, acoustic sound proofing of offices, quiet machinery and other strategies be enhanced through deliberate administrative effort. Keywords:  impact, environmental, noise, individual, hearing problems

scholarly journals The Relationship between Economic Growth and Pollution in Some New European Union Member States: A Dynamic Panel ARDL Approach

Energies ◽  
2021 ◽  
Vol 14 (9) ◽  
pp. 2363
Author(s):  
Mihaela Simionescu ◽  
Carmen Beatrice Păuna ◽  
Mihaela-Daniela Vornicescu Niculescu
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Ghg Emissions ◽  
Kuznets Curve ◽  
Renewable Energy Consumption ◽  
Panel Ardl ◽  
Domestic Credit ◽  
The Impact ◽  
The Relationship

Considering the necessity of achieving economic development by keeping the quality of the environment, the aim of this paper is to study the impact of economic growth on GHG emissions in a sample of Central and Eastern European (CEE) countries (V4 countries, Bulgaria and Romania) in the period of 1996–2019. In the context of dynamic ARDL panel and environmental Kuznets curve (EKC), the relationship between GHG and GDP is N-shaped. A U-shaped relationship was obtained in the renewable Kuznets curve (RKC). Energy consumption, domestic credit to the private sector, and labor productivity contribute to pollution, while renewable energy consumption reduces the GHG emissions. However, more efforts are required for promoting renewable energy in the analyzed countries.

Empirical Literature on Economic Growth, 1991–2020: Uncovering Extant Gaps and Avenues for Future Research

2021 ◽  
pp. 097491012110616
Author(s):  
Natalia I. Doré ◽  
Aurora A. C. Teixeira
Keyword(s):  
Economic Growth ◽  
Latin American ◽  
Empirical Studies ◽  
Empirical Literature ◽  
Future Research ◽  
Long Run ◽  
Scientific Attention ◽  
The Impact ◽  
Determinants Of Economic Growth ◽  
Latin American And Caribbean

The factors required to achieve sustainable economic growth in a country are debated for decades, and empirical research in this regard continues to grow. Given the relevance of the topic and the absence of a comprehensive, systematic literature review, we used bibliometric techniques to examine and document several aspects in the empirical literature related to growth, from 1991 to 2020. Five main results are worth highlighting: (a) the share of empirical articles on economic growth show a clear upward trend; (b) among all the groups of countries considered, the emerging economies (EEs) have received the most scientific attention; (c) the economic growth processes of the Latin American and Caribbean EEs have observed negligible scientific attention; (d) the very long-run studies comprise a residual share among the empirical literature on growth; (e) the extant empirical studies on economic growth have addressed mainly the impact of “macroeconomic conditions.” Our findings suggest there is a need to redirect the empirical growth agenda, so as to encourage more scientific attention devoted to the analysis of key determinants of economic growth in the very long run. There should also be increased scrutiny of the processes of economic growth in Latin American and Caribbean EEs

The Impact of Rural Finance on Rural Economic Development from the Perspective of Efficiency of Discrete Differential Algorithm

2021 ◽  
Vol 7 (5) ◽  
pp. 4358-4365
Author(s):  
Mingxu Peng ◽  
Jiawen Huang
Keyword(s):  
Economic Growth ◽  
Rural Economy ◽  
Choice Model ◽  
Influence Factors ◽  
Maximum Flow ◽  
Pso Algorithm ◽  
Significant Degree ◽  
Theoretical Research ◽  
The Impact ◽  
The Relationship

Objectives: Finance is the core of the national economy. The development of modern rural economy is inseparable from financial support. The relationship between finance and economic growth has always been one of the hot topics in theoretical research and empirical analysis. Methods: Under the background of the development of Internet e-commerce, the maximum flow algorithm was based on the empirical research on the relationship between China’s financial development and economic growth. Results: Based on this, the two-element discrete choice model of Probit and Logistic for economic growth was constructed. Discrete particle swarm optimization (PSO) algorithm was used to estimate the parameters of the model. The significant degree of the influence factors was calculated. Conclusion: Finally, it was calculated that concurrent business was the decisive factor of economic growth.

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