scholarly journals Empirical analysis of crude oil consumption and price on Ghana’s economic growth

2020 ◽  
Vol 5 (4) ◽  
Author(s):  
Gideon Kweku Appiah ◽  
Ebenezer Oduro ◽  
Shadrack Benn
Keyword(s):  
Economic Growth ◽  
Crude Oil ◽  
Time Series Data ◽  
Oil Price ◽  
Series Data ◽  
Energy Information Administration ◽  
Oil Consumption ◽  
The Government ◽  
The Impact ◽  
Adf Test

AbstractThe objective of this paper was to investigate the impact of crude oil consumption and oil price on the growth of the Ghanaian economy. It proceeded with annual time series data (1980-2016) sourced from World Development Indicator (WDI) and Energy Information Administration (EIA). All variables used in the study were integrated of order one as suggested by the Augmented Dickey-Fuller (ADF) test. Further, the Johansen Cointegration test suggested the existence of cointegration among the variables. The study used the OLS estimation procedure.The study found a positive and statistically significant relationship between oil price and economic growth in the long run. On the other hand, an inverse relationship was found between crude oil consumption and economic growth in the long run.Based on the findings the study recommends that the government diversify the economy to reduce the shock the economy might experience in times of oil price shocks. Further, risk management instruments like physical reserves and hedging against oil prices should also be employed.Also, the study recommends policies that encourage efficient consumption of crude oil, especially in the productive sectors like industry in order to trigger growth. This notwithstanding, the study recommends effective measures to mitigate the externalities associated with increased production and consumption of crude oil, such as the carbon tax.

Human Capital Impact on Economic Growth in Nigeria

2021 ◽  
Vol 7 (18) ◽  
pp. 15-22
Author(s):  
Chuwuemeka Ogugua AGBO ◽  
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Time Series Data ◽  
Capital Expenditure ◽  
Private Investment ◽  
Series Data ◽  
Tertiary Institutions ◽  
Explanatory Variables ◽  
The Government ◽  
The Impact

This study aims to examine the impact of human capital on economic growth in Nigeria. Despite all effort to improve education condition in Nigeria, there hasn’t been much encouraging improvement. This has caused a large number of the population to move abroad for studies. Most conducive tertiary institutions are owned by private individuals, the government owned universities have been overlooked and recklessly abandoned. In this study OLS multiple regression was adopted to analyze the time series data for the period of 1985-2018 to test if Average Year of Schooling (AVYS), Private Investment in Telecommunication (PIT), Capital Expenditure on Education (CEE), and Recurrent Expenditure on Education (REE) have an impact on growth in Nigeria or not. The data was derived from CBN statistical Bulletin (2018). Result showed that all the four explanatory variables have significant impact on Economic growth. However, it is therefore important for government to increase education budget annually.

scholarly journals The Impact of International Capital Flows on Jordan’s Economic Growth

2019 ◽  
pp. 214-220
Author(s):  
Basem M. Lozi ◽  
Mamoun Shakatreh
Keyword(s):  
Economic Growth ◽  
Capital Flows ◽  
Time Series Data ◽  
Developed Countries ◽  
International Capital Flows ◽  
Capital Inflows ◽  
Series Data ◽  
International Capital ◽  
The Government ◽  
The Impact

The aim of this study is to examine the impact of international capital flows on the economic growth in Jordan during the period from 2005 to 2017, The study also examines trends and composition of capital inflows. The study used descriptive analytical research method which was appropriate for the purpose of research. By using time series data, the study found that Foreign Direct Investment (FDI), foreign portfolio investment (FPI), grants (Gr) and Worker remittances (WR) are positively affecting the economic growth direct contribution. Based on the research results, the study came with a several recommendations, the most important recommendation is; the government of Jordan should create and relax the rules and regulations to attract more investors, and also the government should work hand in hand with the developed countries to create economic and employment opportunities, improve the country’s competitiveness, and expand growth within the private sector so that everyone in Jordan has the opportunity to contribute to a brighter future.

scholarly journals Impact of Women Education on Economic Growth: An Evidence from Pakistan

2021 ◽  
Vol 3 (2) ◽  
pp. 113-120
Author(s):  
Kiran Zahra ◽  
Mudassar Yasin ◽  
Baserat Sultana ◽  
Zulqarnain Haider ◽  
Raheela Khatoon
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Economic Development ◽  
Time Series Data ◽  
Essential Element ◽  
Series Data ◽  
Education Expenditure ◽  
Long Run ◽  
The Government ◽  
The Impact

Education is the most fundamental right in the current situation, and it is an essential element of economic growth. No country can achieve economic development and goals without investing in education. Pakistan’s economic development is possible when education is equal for both men and women, but the government did not give importance to the sector as it deserved. This study investigated the determinants of female higher education in Pakistan and the impact of women's education on the economic growth of Pakistan. This study utilized time-series data from 1991 to 2019. The autoregressive distribution lag (ARDL) model is applied to estimate the impact. The result shows that in Pakistan, education expenditure has no positive effect on female education. In contrast, a positive relationship between female higher education and GDP growth exists, but this relation is not strong in the short run and long run.

scholarly journals A Comparative Analysis Of Capital Expenditure On Infrastructure And Economic Growth In Nigeria And South Africa

2020 ◽  
Vol 8 (3) ◽  
pp. 53-64
Author(s):  
R. K. Ayeni ◽  
Ireti Olamide Olasehinde
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Time Series Data ◽  
Good Governance ◽  
Capital Expenditure ◽  
Specific Model ◽  
Series Data ◽  
Infrastructural Development ◽  
The Government ◽  
The Impact

Nigeria and South Africa are two dominating economies in Africa but defer in terms of infrastructural development. The question of whether this infrastructural difference culminate to the difference in economic growth in the two economies is central to this study. This paper therefore, examined the impact of capital expenditure on infrastructure and economic growth both in Nigeria and South Africa using time series data from 1980 to 2016.  Autoregressive Distributed Lag (ARDL) Bound tests technique of cointegration was used to on country-specific model of aggregate expenditure, following the Keynesian theory. The result showed that there is a the long-run relationship among the variables used in Nigeria and South Africa.  Capital expenditure on infrastructure has positive but insignificant impact on economic growth in Nigeria while it was positive and significant on the economic growth in South Africa.  The insignificant impact of capital expenditure on infrastructure on economic growth compare with South Africa may be the major difference in the two economies. This is traceable to lack of accountability and corruption in Nigeria compared to the good governance that truncated corruption and mismanagement in the government circle in South Africa. Tax base has positive and significant impacts on the economic growth in these two countries, this was supported by the Pairwise Granger Causality in which TAX granger caused economic growth in both countries. The study recommends injection of sufficient fund into infrastructural development in Nigeria. AS tax contributed positively to economic growth in both economies, it is recommended that tax revenue realized should be judiciously spent by providing the necessary amenities to discourage evasion of tax.

scholarly journals Estimating the Impact of Human Capital Underutilization on the Productivity and Economic Growth in India

2021 ◽  
Author(s):  
Vijaya Kumar M ◽  
Balu B
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Time Series Data ◽  
Negative Relationship ◽  
Series Data ◽  
International Labor Organization ◽  
Distributed Lag ◽  
Integration Test ◽  
The Impact ◽  
Adf Test

Abstract This study investigated the effect of human capital underutilization on productivity and economic growth. It has used time-series data accessed from the International Labor Organization (ILO) and World Bank database. This paper estimated the relationship between the underutilization of human capital on productivity and economic growth by applying the econometric tests like Augmented Dickey-Fuller (ADF) Test, Johansen Integration Test, and the Autoregressive Distributed Lag (ARDL) model. The results revealed that in the long run human capital underutilization has a negative relationship on GDP and labor productivity and it does not in the short run. The study recommends that specific policy legislations in the Indian labor markets are required for addressing the problem of human capital underutilization and thereby accelerating the economic growth and productivity for the current and future generations.

scholarly journals External Debt and Economic Growth of Nigeria: An Empirical Investigation

2018 ◽  
pp. 1-11 ◽  
Author(s):  
S. Sajuyigbe, Ademola ◽  
A. Odetayo, Tajudeen ◽  
Z. Adeyemi, Adewumi
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
External Debt ◽  
Debt Management ◽  
Series Data ◽  
Causality Test ◽  
Secondary Sources ◽  
Augmented Dickey Fuller ◽  
The Impact ◽  
Adf Test

The study investigates the impact of external debt on economic growth in Nigeria for the period 1999-2015. The data for this study was obtained mainly from secondary sources mainly from Central Bank of Nigeria (CBN) Statistical Bulletins and Debt Management Office. Time series data on Gross Domestic Product (GDP) as a proxy for Economic Growth, External Debt Stock (EXDS), External Debt Service Payment (EDSP), and Exchange Rate (EXGR) were used for the analysis. The techniques of Estimation employed in the study include Augmented Dickey Fuller (ADF) test, Johansen Co-integration, Vector Error Correction Mechanism and Granger Causality Test. Results show that external debt has an inverse effect on economic growth in Nigeria. Subsequently, the study recommends that government should empower Debt Management Office to set the mechanism in place, ensure that loans are utilised for purposes they are meant for and prosecute corrupt public officers who siphoned the money.

scholarly journals THE ROLE OF FOREIGN INVESTMENT ON ECONOMIC GROWTH OF PAKISTAN: AN EMPIRICAL ANALYSIS FOR THE PERIOD OF 1976 – 2016

2018 ◽  
Vol 1 (2) ◽  
pp. 57-65
Author(s):  
Majid Ali
Keyword(s):  
Economic Growth ◽  
Private Sector ◽  
Time Series Data ◽  
Private Investment ◽  
Series Data ◽  
Significant Variable ◽  
Private Sector Investment ◽  
The Government ◽  
Public And Private Sector ◽  
Adf Test

The paper aims to examine empirically the nexus between foreign direct investment, domestic investments and economic growth in Pakistan by using time series data. An OLS technique is used to analyze the relationship between FDI, Public & Private investment, Personal remittances with gross domestic products panning from 1976-2016. For a data to be stationary, ADF test has been used and validated that all variables are stationary at level. Results of the study shows that both public and private sector investment are positively related with GDP but Public sector investment have an insignificant effect on GDP, while FDI found inversely and insignificantly correlated with GDP. Personal remittances (PR) relate negatively and have a significant impact on GD. Private investment are found to be the most significant variable which can effect GDP, showing that private investment can fueled economic growth of Pakistan. Hence, the Government of Pakistan needs to formulate such a policy frame work, which focuses on private sector investment in order to enhance economic growth.

The Impact of Foreign Aid on Education in Pakistan

2018 ◽  
Vol 3 (1) ◽  
Author(s):  
Muhammad MASOOD ANWAR ◽  
Ghulam YAHYA KHAN ◽  
Sardar JAVAID IQBAL KHAN
Keyword(s):  
Economic Growth ◽  
Foreign Aid ◽  
Time Series Data ◽  
Political Stability ◽  
Vital Role ◽  
Series Data ◽  
Major Objective ◽  
Data Set ◽  
The Government ◽  
The Impact

Foreign Aid (FA) is an important determinant of economic growth in the developing world and especially countries like Pakistan, where development needs could not be financed by the government due to limited domestic resources. FA supplements domestic resources of finance such as savings and also enhances the amount of investment and capital stock in the country. Education is also a one of the major contributors of economic growth. In countries like Pakistan education also plays a vital role in political stability where institutions are not sound enough. The Major objective of the study is to check the effectiveness of foreign aid for education in Pakistan. This study has been primarily conducted using a time series data set for Pakistan over the period 1975 to 2010. The variables of interest are foreign aid and education, other variables are investment and openness to foreign trade. For empirical analysis ARDL techniques of co-integration developed by Pesaran and Shin (Ghorbani & Motallebi, 2009) have been used. The results show positive relationship between foreign aid and education. The study has relevance as far as policy decisions are concerned for foreign aid. 

scholarly journals PENGARUH HARGA MINYAK DUNIA DAN SUKU BUNGA TERHADAP PERTUMBUHAN EKONOMI INDONESIA TAHUN 1987-2017

2019 ◽  
Vol 2 (1) ◽  
pp. 1
Author(s):  
Ina Yanti ◽  
Ratna Ratna
Keyword(s):  
Economic Growth ◽  
Interest Rates ◽  
Time Series Data ◽  
Oil Prices ◽  
Series Data ◽  
Energy Information Administration ◽  
Analysis Model ◽  
Negative Effect ◽  
The Government ◽  
Positive Effect

This study aims to determine the effect of world oil prices and interest rates on the economic growth of Indonesia. The data used in this study is time-series data during1987-2017 obtained from Indonesia. (Energy Information Administration), Bank Indonesia, and the Central Bureau of Statistics. Data analysis methods use multiple linear regression and Vector Autoregression (VAR) models. The results of the study show that partially the world oil prices and interest rates have a significant and negative effect on the economic growth of Indonesia. Simultaneously, world oil prices and interest rates have a significant and positive effect on the economic growth of Indonesia. Furthermore, the results of testing the VAR analysis model indicate that world oil prices have a positive and significant effect on the economic growth of Indonesia, and interest rates have a positive and insignificant effect on the economic growth of Indonesia. It recommends that the government and all stakeholders must collaborate to reduce or eliminate the influence of shocks to global oil prices domestically and a concrete step that needs to be sought is to normalize the habits that used to be wasteful of fuel to save fuel.

scholarly journals Financial Structure, Misery Index, and Economic Growth: Time Series Empirics from Pakistan

2019 ◽  
Vol 12 (2) ◽  
pp. 100 ◽  
Author(s):  
Nianyong Wang ◽  
Muhammad Haroon Shah ◽  
Kishwar Ali ◽  
Shah Abbas ◽  
Sami Ullah
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Time Series Data ◽  
Trade Openness ◽  
Financial Structure ◽  
Series Data ◽  
Growth Time ◽  
Misery Index ◽  
The Government ◽  
The Impact

This study empirically analyzes the impact of the financial structure and misery index on economic growth in Pakistan. We adopted Autoregressive-Distributed Lag (ARDL) for a co-integration approach to the data analysis and used time series data from 1989 to 2017. We used GDP as the dependent variable; the Financial Development index (FDI) and misery index as the explanatory variables; and remittances, real interest, and trade openness as the control variables. The empirical results indicate the existence of a long-term relationship among the included variables in the model and the FD index, misery index, interest rate, trade openness, and remittances as the main affecting variables of GDP in the long run. The government needs appropriate reform in the financial sector and external sector in order to achieve a desirable level of economic growth in Pakistan. The misery index is constructed based on unemployment and inflation, which has a negative implication on the economic growth, and the government needs policies to reduce unemployment and inflation.

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