scholarly journals THE EFFECTS OF NAFTA ON ECONOMIC GROWTH

2019 ◽  
Vol 78 (308) ◽  
pp. 63
Author(s):  
Víctor M. Cuevas Ahumada ◽  
Roger Ivanodik Juan López Churata
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Generalized Method Of Moments ◽  
Physical Capital ◽  
Generalized Least Squares ◽  
The United States ◽  
Capital Formation ◽  
Gdp Per Capita ◽  
Human Capital Formation ◽  
Per Capita

<p align="center"><strong>ABSTRACT</strong></p><p>This paper evaluates the effects of the North American Free Trade Agreement on the economic growth of Mexico, the United States and Canada by means of an augmented Solow growth model. Such a model is estimated with panel data through two econometric methods: 1) the Arellano-Bond dynamic panel Generalized Method of Moments, and 2) Feasible Generalized Least Squares. The two techniques are consistent in indicating that trade raises Gross Domestic Product (GDP) per capita, controlling for physical capital stock per capita, human capital formation, total factor productivity, and the capital depreciation rate. However, the most important source of GDP per capita growth is human capital formation, which highlights the need to promote trade while investing more in long-term formal education, short-term training programs and the whole process of knowledge transferring.</p><p> </p><p align="center"><strong>LOS EFECTOS DEL TLCAN EN EL CRECIMIENTO ECONÓMICO</strong></p><p align="center"><strong>RESUMEN</strong></p>Esta investigación evalúa los efectos del Tratado de Libre Comercio de América del Norte en el crecimiento económico de México, Estados Unidos y Canadá mediante una versión ampliada del modelo de crecimiento de Solow. El modelo se estima con datos en panel mediante dos métodos: 1) el método generalizado de momentos de Arellano y Bond, el cual se aplica a un panel dinámico y 2) mínimos cuadrados generalizados factibles. Ambos indican que el comercio incrementa el producto interno bruto (PIB) per cápita, controlando para el <em>stock</em> de capital físico y humano, la productividad total de los factores y la tasa de depreciación del capital. Sin embargo, la principal fuente de crecimiento económico es la formación de capital humano, por lo que se debe estimular el comercio internacional e invertir más en educación formal de largo plazo, programas de capacitación de corto plazo y todo el sistema de transferencia del conocimiento.

scholarly journals The Main Drivers of Competitiveness in the EU-28 Countries

2021 ◽  
Vol 13 (1) ◽  
pp. 129-145
Author(s):  
Mihaela Simionescu ◽  
Elena Pelinescu ◽  
Samer Khouri ◽  
Svitlana Bilan
Keyword(s):  
Human Capital ◽  
Positive Impact ◽  
Physical Capital ◽  
Capital Formation ◽  
Gdp Per Capita ◽  
Positive Contribution ◽  
Data Framework ◽  
Per Capita ◽  
The Eu

During the past few decades, globalization has dramatically changed the context of competitiveness around the world. Considering the role of competitiveness in the development of the digital economy, this paper aims to highlight the role of innovation, foreign direct investment (FDI), and human capital in supporting competitive European economies. The research hypothesis is that FDI, innovation, and human capital contribute to competitiveness growth. The paper extends the Cobb-Douglas function by including other competitiveness factors in a panel data framework based on the EU-28 countries in the period 2004-2018. The results indicate that GDP per capita variation is explained by human and physical capital, FDI, and R&D expenditure. Human capital plays a crucial role in economic development due to the innovation skills of individuals, which improve the productivity of these factors. Capital formation also makes a positive contribution to economic growth. The empirical evidence suggests that the changes in the GDP per capita are explained by modifications in the labor force and capital formation, as is described in the traditional framework of the Cobb-Douglas function. R&D expenditure and FDI stock, however, also play a significant role. Moreover, human capital could determine the adoption of external technology by absorbing new equipment and ideas. On the other hand, the education index and capital formation showed a positive impact on GCI.

scholarly journals Examining GDP Growth and Its Volatility: An Episodic Approach

Entropy ◽  
2021 ◽  
Vol 23 (7) ◽  
pp. 890
Author(s):  
Jakub Bartak ◽  
Łukasz Jabłoński ◽  
Agnieszka Jastrzębska
Keyword(s):  
Economic Growth ◽  
Genetic Algorithm ◽  
Time Series ◽  
Human Capital ◽  
Growth Rates ◽  
Structural Breaks ◽  
Negative Relationship ◽  
Gdp Per Capita ◽  
Gdp Growth ◽  
Per Capita

In this paper, we study economic growth and its volatility from an episodic perspective. We first demonstrate the ability of the genetic algorithm to detect shifts in the volatility and levels of a given time series. Having shown that it works well, we then use it to detect structural breaks that segment the GDP per capita time series into episodes characterized by different means and volatility of growth rates. We further investigate whether a volatile economy is likely to grow more slowly and analyze the determinants of high/low growth with high/low volatility patterns. The main results indicate a negative relationship between volatility and growth. Moreover, the results suggest that international trade simultaneously promotes growth and increases volatility, human capital promotes growth and stability, and financial development reduces volatility and negatively correlates with growth.

HUMAN RESOURCES DEVELOPMENT OF REPUBLIC OF CROATIA AND PRIMORSKOGORANSKA COUNTY AND THEIR INFLUENCE ON ECONOMIC GROWTH∗

2009 ◽  
Vol 15 (1) ◽  
pp. 13-24
Author(s):  
Nada Karaman Aksentijevic ◽  
Zoran Jezic
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Human Resources ◽  
Gdp Per Capita ◽  
Human Resources Development ◽  
Regression Analyses ◽  
Theoretical Part ◽  
Educational Structures ◽  
Indirect Indicator ◽  
Per Capita

In the theoretical part of research authors will establish connections and diversities between human capital and human resources categories. In the empirical part of research, via HDI, it will be evaluated the development of human resources in Republic Of Croatia and in Primorsko-goranska County and in will be evaluated relation between HDI and GDP per capita of Croatia and in Primorsko-goranska County. Authors will also analyze how much development of human resources has contributed to the economic growth of Republic Of Croatia. In order to demonstrate this it will be measured influence of investment, employment and educational structures (the indirect indicator of development of human resources) on the growth of GDP in the period of 1997-2005 with usage of regression analyses.

scholarly journals Desacoplamento entre as Emissões de CO2 e o PIB

2016 ◽  
Vol 2 (3) ◽  
pp. 37-53
Author(s):  
Yves Rocha De Salles Lima ◽  
Tatiane Stellet Machado ◽  
Joao Jose de Assis Rangel
Keyword(s):  
Economic Growth ◽  
Co2 Emissions ◽  
International Energy Agency ◽  
The United States ◽  
Oil Price ◽  
Gdp Per Capita ◽  
Energy Agency ◽  
The Us ◽  
Per Capita ◽  
The One

The objetive of this work is to analyze the variation of CO2 emissions and GDP per capita throughout the years and identify the possible interaction between them. For this purpose, data from the International Energy Agency was collected on two countries, Brazil and the one with the highest GDP worldwide, the United States. Thus, the results showed that CO2 emissions have been following the country’s economic growth for many years. However, these two indicators have started to decouple in the US in 2007 while in Brazil the same happened in 2011. Furthermore, projections for CO2 emissions are made until 2040, considering 6 probable scenarios. These projections showed that even if the oil price decreases, the emissions will not be significantly affected as long as the economic growth does not decelerate.

Zur Verzahnung von Familienpolitik und Bildungspolitik: eine wirtschaftspolitische Einordnung

2005 ◽  
Vol 54 (2) ◽  
Author(s):  
Michael Hüther ◽  
Hans-Peter Klös ◽  
Susanne Seyda
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Young People ◽  
Educational Policy ◽  
Family Policy ◽  
Negative Impact ◽  
Capital Formation ◽  
Human Capital Formation ◽  
Set Up ◽  
The Relationship

AbstractThis article addresses the relationship between two policies that are to ensure wealth and economic growth: family policy and educational policy. Current demographic changes in Germany are widely expected to have a negative impact on economic growth. One way to tackle this problem is to devise a family policy that takes into account current demographic developments and encourages young people to set up a family of their own. A second major determinant of future wealth is the formation of human capital. This article analyzes measures relating to both family policy and human capital formation. Particular attention is devoted to links and synergetic effects between the two policy variables.

EXPORT-GROWTH NEXUS WHILE USING THE BLOCK EXOGENEITY: EMPIRICAL EVIDENCE FROM PAKISTAN

2020 ◽  
Vol 11 (1) ◽  
pp. 25-46
Author(s):  
Zia Ur Rahman
Keyword(s):  
Economic Growth ◽  
Trade Openness ◽  
Time Frame ◽  
Capital Formation ◽  
Gdp Per Capita ◽  
Real Gdp ◽  
Real Gdp Per Capita ◽  
Per Capita ◽  
Import Trade ◽  
Bound Test

The core objective of the study is to analyze the association between export and eco-nomic growth under the consideration of the time frame 1967 to 2017 for Pakistan economy. The review of literature assists to find out the frequently utilize factors are the real GDP per capita, export, import, trade openness, fiscal development and capi-tal formation possible determinants of the economic growth. However, Export Led Growth (ELG) hypothesis is oftenly employed to elaborate the affiliation between ex-port and the growth. Autoregressive distributed lag (ARDL) bound test approach to cointegration accompanied with the structural break and vector auto regressive (VAR) are employed to analysis the long-term association among real GDP per capita, ex-port, import, trade openness, fiscal development and capital formation. The empirical analysis confirms the cointegration among the factors and the ELG hypothesis holds in Pakistan economy. The Block Exogeneity reveals that export and the capital for-mation have strong influence to stimulate the economic growth. While all the other factors have cumulative influence on the growth. Moreover, the impulse response exposes that if the shock of real GDP per capita, import, trade openness, fiscal devel-opment and the capital formation are given to the export, then response of export would be positive in the coming time frame.

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