Taylor Principle in the Long Run: An Empirical Perspective

2012 ◽  
Author(s):  
Yu-hsi Chou ◽  
Jyh-Lin Wu
Keyword(s):  
Long Run ◽  
Empirical Perspective

FOREIGN DIRECT INVESTMENT INFLOWS AND REGULATION IN NIGERIA: AN EMPIRICAL PERSPECTIVE

2019 ◽  
Vol 9 (1) ◽  
pp. 157-168
Author(s):  
Aderemi Timothy Ayomitunde ◽  
Amusa Bolanle Olubunmi ◽  
Awomailo Lanke B ◽  
Olayemi Henry Omotayo
Keyword(s):  
Rule Of Law ◽  
Business Environment ◽  
Policy Makers ◽  
Fdi Inflows ◽  
Government Effectiveness ◽  
Cross Border ◽  
Long Run ◽  
Equilibrium Relationship ◽  
Good Government ◽  
Empirical Perspective

The aim of this study is to examine the long run equilibrium relationship between regu-lation and FDI inflows in Nigeria over the period of 1990 to 2016 which past studies have failed to explore. Consequently, the study utilized data from UNCTAD, World Bank database, CBN Statistical Bulletin and Cointegration, DOLS and Granger Cau-sality approach was used to address the objective of this study. However, the major findings in this study are summarized as follows. Government effectiveness, rule of law and inflation rate have a significant positive relationship with FDI inflows in Nigeria in the long run, apart from regulation quality that is not significant. This implies that regulation is favorable to the inflows of cross border investment in the country. In addition, there is a unidirectional feedback relationship which runs from FDI inflows to regulation quality and one way feedback relationship runs from the rule of law to government effective-ness in the country. Finally, due to the findings that emerged from this study, the fol-lowing recommendations are made for the policy makers, investors and future re-searchers in Nigeria that when attraction of FDI inflows are the target of the policy makers in the country, improving variables like rule of law, government effectiveness and regulation quality will induce the inflows of cross border investment accordingly in the long run. Also, the Nigerian government should be committed to the provision of a sound business environment in the form of good government regulations to ensure rapid inflows of FDI in the country.

THE ROLE OF AGRICULTURE IN POVERTY REDUCTION IN NIGERIA: AN EMPIRICAL PERSPECTIVE

2019 ◽  
Vol 9 (1) ◽  
pp. 253-264
Author(s):  
Olayemi Henry Omotayo ◽  
Aderemi Timothy Ayomitunde ◽  
Ojelade Lydia Omolola ◽  
Adebayo Abiola Georgina
Keyword(s):  
Poverty Reduction ◽  
Inflation Rate ◽  
Agricultural Sector ◽  
Negative Relationship ◽  
Poverty Level ◽  
Agricultural Output ◽  
Long Run ◽  
Empirical Perspective ◽  
The Government

Abstract In Nigeria, several advocacies have been raised in different fora over time that agriculture is capable of reducing poverty in the country. An attempt to empirically validate the above argument has generated a policy mix in the literature. Therefore, further empirical investigation about this subject matter becomes imperative. Consequently, the study utilized the DOLS and Granger Causality Approach to address the objective of this study. However, the principal findings that emerged in this study are as follows: in the long run, there is a significant positive relationship between the employment in agriculture and poverty level, inflation rate and poverty level have a negative relationship with each other. Meanwhile, agricultural output causes a significant reduction in the poverty level. Also, one-way feedback relationship runs from agricultural output to the poverty level in the country. Based on the findings that originated in this study, this paper makes the following recommendations for the policymakers, future researchers and all the stakeholders in the agricultural sector in Nigeria that agricultural output has the capacity to reduce poverty level in the country. This implies that when poverty reduction is the target of the policymakers in the country, manipulating agricultural output will induce the reduction in poverty level in the long run. Also the government should possess political goodwill to revamp agricultural sector.

Analyzing Trade Growth Effects of Deviations from Long-run Economic Growth

2017 ◽  
Vol 17 (4) ◽  
pp. 20170060 ◽  
Author(s):  
Cephas B. Naanwaab ◽  
Jeffrey A. Edwards
Keyword(s):  
Economic Growth ◽  
Low Income ◽  
First Century ◽  
Low Income Countries ◽  
Gdp Growth ◽  
Real Gdp ◽  
Long Run ◽  
Empirical Perspective ◽  
Trade Growth ◽  
The Relationship

This paper explores the relationship between trade growth and long-run trends in real GDP growth from a purely empirical perspective. Its novelty lies in the way that it models trade growth: as a function of cyclical trends in real GDP growth. The main finding is that trade growth responds asymmetrically to deviations from long-run GDP growth. Generally, trade growth is positive and statistically significant when GDP growth is above the long-run trend. On the other hand, trade growth ceases but does not become negative when GDP growth falls below its long-run trend. While this behavior holds true broadly, individual countries’ trade growth may respond differently when GDP growth is above or below trend. Comparatively, low-income countries’ trade growth takes the greatest hit when economic growth slows, while lower-middle and high-income countries are least affected. These findings have potential implications for trade policy-making in the twenty-first Century especially given the current atmosphere of anti-globalization and slow trade growth.

THE TAYLOR PRINCIPLE IN THE LONG RUN: AN EMPIRICAL PERSPECTIVE

2014 ◽  
Vol 33 (1) ◽  
pp. 66-86 ◽  
Author(s):  
Yu-Hsi Chou ◽  
Jyh-Lin Wu
Keyword(s):  
Long Run ◽  
Empirical Perspective

Finn Kydland and Edward Prescott: Driving Forces behind Economic Cycles (2004 Nobel Prize in Economics)

2005 ◽  
pp. 133-143 ◽  
Author(s):  
E. Balashova
Keyword(s):  
Nobel Prize ◽  
Driving Forces ◽  
Microeconomic Theory ◽  
Business Cycle Theory ◽  
Economic Cycles ◽  
Cyclical Fluctuations ◽  
Long Run ◽  
Time To Build ◽  
New Business ◽  
Extensive Research Program

The method of analyzing and modeling cyclical fluctuations of economy initiated by F. Kydland and E. Prescott - the 2004 Nobel Prize winners in Economics - is considered in the article. They proposed a new business cycle theory integrating the theory of long-run economic growth as well as the microeconomic theory of consumers and firms behavior. Simple version of general dynamic and stochastic macroeconomic model is described. The given approach which was formulated in their fundamental work "Time to Build and Aggregate Fluctuations" (1982) gave rise to an extensive research program and is still used as a basic instrument for investigating cyclical processes in economy nowadays.

Forming Sources of Long-run Growth: How to Understand Them?

2014 ◽  
pp. 4-20 ◽  
Author(s):  
G. Idrisov ◽  
S. Sinelnikov-Murylev
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Economic Policy ◽  
Business Cycle ◽  
Capital Markets ◽  
Productivity Growth ◽  
Government Spending ◽  
Long Run ◽  
Accelerate Growth ◽  
Budget Institutions

The paper analyzes the inconsequence and problems of Russian economic policy to accelerate economic growth. The authors consider three components of growth rate (potential, Russian business cycle and world business cycle components) and conclude that in order to pursue an effective economic policy to accelerate growth, it has to be addressed to the potential (long-run) growth component. The main ingredients of this policy are government spending restructuring and budget institutions reform, labor and capital markets reforms, productivity growth.

Sign in / Sign up

Export Citation Format

Share Document