Energy and Industrial Growth

2014 ◽  
Author(s):  
Malanima Paolo ◽  
Astrid Kander ◽  
Paul Warde
Keyword(s):  
Economic Growth ◽  
Nineteenth Century ◽  
Capita Income ◽  
Industrial Revolution ◽  
Economic Structure ◽  
Necessary Condition ◽  
Per Capita Income ◽  
Industrial Growth ◽  
Long Run ◽  
Per Capita

This chapter considers the role that energy played in the industrial growth in nineteenth-century Europe. The economies of Europe grew more rapidly during the nineteenth century than at any previous period in history. This was not simply a consequence of the doubling of the population; per capita income rose as well. Given these facts it is hardly surprising that energy consumption also increased dramatically. Consumption of coal seems to have been a key part of economic growth, as measured by per capita income, and cheap energy was a necessary condition of the industrial revolution. The chapter first considers how coal development blocks contributed to growth in Europe during the period before discussing a number of long-run propositions, such as the strong complementarity between energy and capital. It concludes with an assessment of the link between energy intensity and economic structure.

NON-LINEAR EFFECTS OF TERRORISM ON ECONOMIC GROWTH IN PAKISTAN: ACCOUNTING FOR CAPITAL PER WORKER AND STRUCTURAL BREAKS

2019 ◽  
pp. 1950014
Author(s):  
RONALD RAVINESH Kumar ◽  
SYED JAWAD HUSSAIN SHAHZAD ◽  
PETER JOSEF STAUVERMANN ◽  
NIKEEL Kumar
Keyword(s):  
Economic Growth ◽  
Capita Income ◽  
Structural Breaks ◽  
Per Capita Income ◽  
Negative Effects ◽  
Capital Share ◽  
Long Run ◽  
Non Linear ◽  
Short Run ◽  
Per Capita

In this study, we examine the asymmetric effects of terrorism and economic growth in Pakistan over the period 1970–2016, while considering the role of capital per worker and structural breaks. We use the non-linear ARDL approach to establish the long-run association and to estimate the short-run and long-run effects accordingly. The results indicate the presence of asymmetries in both long and short run. Moreover, 1% decrease in terrorism results in an increase of per capita income by 0.02% in the long run and 0.001% in the short run. Assuming symmetry, the long run capital share is 0.47. In asymmetric relation, a 1% increase in capital share increases output by 0.55%, whereas a 1% decrease in capital stock decreases output by 0.26%. The break effects show that the years 1993 and 2004 have negative effects on growth. The vector error correction model-based causality results indicate a unidirectional causality from terrorism to per capita income. Overall, the results highlight that terrorism is growth retarding.

Economic Growth in France and Britain, 1830–1910: A Review of the Evidence

1984 ◽  
Vol 44 (1) ◽  
pp. 49-67 ◽  
Author(s):  
N. F. R. Crafts
Keyword(s):  
Economic Growth ◽  
Nineteenth Century ◽  
Great Britain ◽  
Labor Productivity ◽  
Capita Income ◽  
Per Capita Income ◽  
Unusual Pattern ◽  
Per Capita

Recent revisionist treatments of nineteenth-century French economic growth are examined and reveal that the pattern of economic growth in France was indeed substantially different from the unusual pattern in Great Britain. Labor productivity in French industry was probably lower than in Britain, contrary to the claims of O'Brien and Keyder, and neither growth of per capita income nor the level of income in France in 1910 was remarkable. The article thus supports a position between that of early writers and that of the recent revisionists.

scholarly journals Seven Centuries of European Economic Growth and Decline

2015 ◽  
Vol 29 (4) ◽  
pp. 227-244 ◽  
Author(s):  
Roger Fouquet ◽  
Stephen Broadberry
Keyword(s):  
Economic Growth ◽  
Nineteenth Century ◽  
Economic Development ◽  
Industrial Revolution ◽  
Gdp Per Capita ◽  
Economic Decline ◽  
European Economic ◽  
Long Run ◽  
Per Capita ◽  
European Economies

This paper investigates very long-run preindustrial economic development. New annual GDP per capita data for six European countries over the last seven hundred years paint a clearer picture of the history of European economic development. We confirm that sustained growth has been a recent phenomenon, but reject the argument that there was no long-run growth in living standards before the Industrial Revolution. Instead, the evidence demonstrates the existence of numerous periods of economic growth before the nineteenth century—periods of unsustained, but raising GDP per capita. We also show that many of the economies experienced substantial economic decline. Thus, rather than being stagnant, pre-nineteenth century European economies experienced a great deal of change. Finally, we offer some evidence that, from the nineteenth century, these economies increased the likelihood of being in a phase of economic growth and reduced the risk of being in a phase of economic decline.

Economic Growth in a Malthusian Empire

2012 ◽  
Author(s):  
Peter Temin
Keyword(s):  
Economic Growth ◽  
Roman Empire ◽  
Capita Income ◽  
Industrial Revolution ◽  
Population Change ◽  
Per Capita Income ◽  
Standards Of Living ◽  
Per Capita ◽  
Malthusian Theory

This chapter examines Rome's lack of an industrial revolution. Without this momentous change, Rome was subject to Malthusian pressures that limited its economic growth. Yet Malthusian economies can have economic growth, which means having rising standards of living. The Malthusian theory of population change argues that changes in productivity lead to changes in the size of the population, but leave the level of per capita income. The chapter shows dynamics providing a way to acknowledge growing per capita income in the basically Malthusian world of the early Roman Empire. It also provides a way to ask if the Romans could have escaped the Malthusian constraints.

scholarly journals Foreign Direct Investment - Growth Nexus: The Case of Nigeria

2017 ◽  
Vol 13 (1) ◽  
pp. 304 ◽  
Author(s):  
Adamu Jibir ◽  
Musa Abdu
Keyword(s):  
Economic Growth ◽  
Capita Income ◽  
Trade Openness ◽  
Wald Test ◽  
Business Environment ◽  
Economic Benefits ◽  
Per Capita Income ◽  
Long Run ◽  
Short Run ◽  
Per Capita

The quest by developing countries for increased FDI stems from the assumption that FDI leads to economic benefits within the host country. The study examined the paradigm ‘FDI led growth’ using dataset for Nigeria obtained from Central Bank of Nigeria span between 1970 and 2014. Modern econometric tools of Vector error correction model and Granger Wald test were employed. The econometric analysis reveals that there is steady long run relationship between FDI and output in Nigeria. Additionally, the causality result indicates that there is unidirectional causality between trade openness and per capita income, running from trade openness to per capita income proxy for economic growth. On the other hand, there is absence of short-run causality between FDI and economic growth in Nigeria. The policy implication is that FDI can be considered as an engine of growth and development. In the case of Nigeria, FDI can be used as a tool for structuring the economy and achieving inclusive growth. This can be done by attracting more FDI through creating conducive business environment, development of infrastructures and strengthening security especially in north-eastern part of the country.

scholarly journals Decentralization and Its Impact on Growth in India

2021 ◽  
Vol 16 (1) ◽  
pp. 130-151
Author(s):  
Fernanda Andrade de Xavier ◽  
Aparna P. Lolayekar ◽  
Pranab Mukhopadhyay
Keyword(s):  
Economic Growth ◽  
Capita Income ◽  
Fixed Effects ◽  
Capital Expenditure ◽  
Per Capita Income ◽  
Reverse Causality ◽  
Social Expenditure ◽  
Causality Test ◽  
Per Capita ◽  
National Growth

We study the effect of revenue decentralization (RD) and expenditure decentralization (ED) on sub-national growth in India from 1981–1982 to 2015–2016 for 14 large (non-special-category) states. Our study provides evidence that both RD and ED play a defining role in India’s sub-national growth in this three-and-a-half-decade period. We use a panel data model with fixed effects (FE) and Driscoll and Kraay standard errors that control for heteroscedasticity, autocorrelation and cross-sectional dependence. To test for causality between growth and decentralization, we use the Granger non-causality test. The regression analysis is supplemented with the distribution dynamics approach. We find that: (a) While decentralization Granger-caused economic growth, the reverse causality effect of growth on decentralization was not significant; (b) Economic growth increased significantly after liberalization; (c) Decentralization, capital expenditure and social expenditure had significant positive impacts on economic growth; and (d) States that had high levels of decentralization also had high levels of per capita income, while states that had low decentralization also exhibited low per capita income.

Film Production And Economic Performance: Should South Africa Invest In Movies?

2021 ◽  
Vol 4 (2) ◽  
pp. 125-144
Author(s):  
Andrew Phiri ◽  
Keyword(s):  
Foreign Direct Investment ◽  
Economic Performance ◽  
Government Spending ◽  
Capita Income ◽  
Direct Investment ◽  
Film Production ◽  
Domestic Investment ◽  
Per Capita Income ◽  
Long Run ◽  
Per Capita

The movie industry is increasingly recognised as a possible avenue for improving economic performance. This study focuses on film production and its influence on South African economic growth (per capita income and employment between 1970 and 2020). Our autoregressive lag distributive (ARDL) estimates on a loglinearised endogenous growth model augmented with creative capital indicate that the production of movies has no significant effects on long-run GDP growth, per capita GDP and employment. The baseline regressions find a short-run positive and significant influence of film production on per capita income and are devoid of long-run effects. However, re-estimating the regressions with interactive terms between movie production and i) government spending ii) foreign direct investment, improve the significance of film regression coefficients which all turn positive and significant, for government spending, and negative for foreign direct investment. Our results indicate that foreign investment crowds out domestic investment whilst government investment in movies is growth-enhancing.

scholarly journals ASSESSING THE IMPACT OF ECONOMIC GROWTH ON INEQUALITY IN INDIA

2020 ◽  
pp. 5-8
Author(s):  
Furqan Ali ◽  
Mohammad Asif
Keyword(s):  
Economic Growth ◽  
Income Distribution ◽  
Capita Income ◽  
Political Stability ◽  
The State ◽  
Per Capita Income ◽  
Short Period ◽  
The World ◽  
Per Capita ◽  
The Impact

The rate of economic growth in India fluctuates with the world economic scenario. The developed countries being economically stable and highly advanced by technology, like U.S.A, France, Germany, Japan, and China faced the problem of economic crises. At the same time, the world comes to fluctuate their efficiency and empowerment to the leadership engagement in stabilizing the economy. In this paper, data taken from the Indian States as per capita income at the state level and compare it with all India average data. The Net State Domestic Product Per Capita Income (NSDPPCI), had taken on a current price for the short period 2011-2012 to 2016-2017. This paper compared the regional variation in state performance and compared the most riches states to inferior ones. The factors which affect economic performance are like stabilize the political stability in the state. We also focus comparison on the different political party announcements of the welfare scheme for the farmers and other poor people living in these states. Another factor like the level of education at states and center level, total population, and its growth rate, the public expenditure on the health sector. We measure income inequality, income distribution with the economic growth of India. KEYWORDS: Economic Growth; Inequality; Income Distribution; Political Stability.

scholarly journals Economic Development

2019 ◽  
Author(s):  
Karima Muthmaina
Keyword(s):  
Economic Development ◽  
Human Resources ◽  
Population Growth ◽  
Human Development ◽  
Capita Income ◽  
Economic Structure ◽  
Per Capita Income ◽  
Total Income ◽  
Development Indicators ◽  
Per Capita

Economic Development is a process of increasing total income and income per capita by contributing to population growth and fundamental changes in the economic structure of a country and income ranking for the population of a country. Indonesia's development should be for the development of Indonesia's human resources, so that the use of per capita income indicators is not only an indicator of the success of Indonesia's development. Regarding the matters in question above, the use of Human Development Indicators (HDI) becomes relevant.

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