External Debt, External Reserves, Debt Service Costs and Economic Growth: Implications for the Nigerian Transport Sector

Abstract The objective of the study presented in this article is to examine the relationship between external debt (EXDT), external reserves (EXRS), total debt service costs (TDS) and Nigeria’s economic growth (RGDP) and how these variables impact on the Nigerian transport economy employing profligacy theory. The study used secondary data for Nigeria for the period 1979 to 2019 obtained from the International Debt Office (WBG). The econometric techniques used include OLS, Granger causality and Engle-Granger cointegration at a 0.05 confidence level. The results show that EXDT has a statistically significant negative relationship with EXRS, with no statistically significant relationship existing with RGDP and TDS in the short term. All the variables showed significant cointegration over the long term, with the conclusion that the relationship between EXRS and EXDT is negatively significant in the short term, while the other variables are insignificant. The recommendations of the study include, that the government and monetary authorities should endeavour to reduce the creation of foreign debt for nonreproductive projects in key sectors due to its adverse effect on external reserves, and instead pursue aid, grants and domestic long-term loan options necessary for effective growth of the transport and other key sectors of the economy.

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Empirical Analysis on Public Expenditure for Education and Economic Growth: Evidence from Indonesia

Economies ◽

10.3390/economies9040146 ◽

2021 ◽

Vol 9 (4) ◽

pp. 146

Author(s):

Agung Suwandaru ◽

Thamer Alghamdi ◽

Nurwanto Nurwanto

Keyword(s):

Economic Growth ◽

Positive Relationship ◽

Public Expenditure ◽

Time Series Data ◽

Negative Relationship ◽

Series Data ◽

Short Term ◽

Distributed Lag ◽

The Government ◽

The Relationship

The purpose of this paper is to find the relationship between public expenditure in the educational sector and the economic growth in Indonesia since the government decided to spend 20% of the state budget on education. We used time series data from 1988 to 2018 and the Cobb–Douglas production function as an economic theory for measurement. In the methodology, we employed Autoregressive Distributed Lag bound tests to find the relationship between variables. The results show that public expenditure on education has an insignificant relationship in the long- and short-term estimation. However, they both have different directions, which is a positive relationship in long-term and a negative relationship in short-term estimation. Meanwhile, gross fixed capital formation shows a positive relationship, and the labour variable has a negative relationship in the short and long terms. In conclusion, the Indonesian government should manage the education system regarding the relationship between education expenditure and economic growth.

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The relationship between energy consumption and economic growth: New evidence from Greece

ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT ◽

10.3280/efe2020-002006 ◽

2021 ◽

pp. 131-153

Author(s):

Antonia Gkergki

Keyword(s):

Economic Growth ◽

Energy Consumption ◽

Gdp Per Capita ◽

Short Term ◽

Vector Error Correction ◽

Per Capita ◽

Econometric Tests ◽

The Government ◽

New Research ◽

The Relationship

This paper examines the relationship between the energy consumption and economic growth from 1968 to 2019 in Greece, by employing the vector error-correction model estimation. A series of econometric tests are employed concerning the stationary of the data, and the co-integration and the relationship among the variables during the long- and short-term. The em-pirical results suggest that there is no bidirectional relationship between economic growth and energy consumption. More specifically, GDP per capita does not affect the energy consump-tion of the three primary sources either in the long-term or the short-term. In other words, the economic crisis and its implications for GDP do not affect energy consumption, and they are not responsible for the considerable decrease in energy sources' consumption. On the other hand, the energy consumption of oil and coal negatively affect the GDP per capita. These re-sults are different from previous studies' conclusions for Greece; this is because the never been experienced before. These findings raise new research questions and also show the limi-tations of the Greek market, as it is regulated and controlled by the government.

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A time series analysis of determinants of FDI in Afghanistan: Which one matters the most, security or economic growth?

Journal of Emerging Economies and Islamic Research ◽

10.24191/jeeir.v6i2.8777 ◽

2018 ◽

Vol 6 (2) ◽

pp. 19

Author(s):

Abdul Fareed Delawari

Keyword(s):

Economic Growth ◽

Time Series ◽

Foreign Direct Investment ◽

Time Series Analysis ◽

Direct Investment ◽

Economic Factors ◽

Market Economic ◽

The Government ◽

The Relationship

Afghanistan has been practicing market economic system since 2002. Since then, the government has been initiating different policies and announced various incentives to attract foreign direct investment (FDI) to the country. However, the outcome has not been satisfactory due to several political and economic factors. This paper explores the relationship between security, economic growth and FDI in Afghanistan, using ARDL model. The paper covers a period from 2002 to 2016. The empirical results of this study show that there is a negative long-term relationship between security and FDI. Hence, the author concludes that, to attract FDI to the country, insuring security should be the top priority of the government of Afghanistan.

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Populasi, One Child Policy dan Reformasi Cina

Indonesian Journal of International Relations ◽

10.32787/ijir.v3i1.86 ◽

2019 ◽

Vol 3 (1) ◽

pp. 80-101

Author(s):

YUSNARIDA EKA NIZMI NIZMI

Keyword(s):

Economic Growth ◽

Population Policy ◽

Aging Population ◽

Economic Stability ◽

Short Term ◽

One Child Policy ◽

Child Policy ◽

The Government ◽

Almost All

Abstract One child policy has been implemented in 1979 and the effects both negative and positive clearly to women. One child policy is a simple China’s economic growth grand strategy that was design to reduce population growth, infrastructure problems, labour and resources. This policy obviously effective in controlling almost all family just to have one child. The problem is that one child policy should be noted only just for short term, implemented for giving state to get its economic goals and to socialize the values of small family and not for long term solution. Various critics defense this policy because of its unrespect and harmful for women and also breaking the human rights. This research analyze one child policy and its implications to decline labour ratio which threat economic stability because of aging population. China government needs to be focus on the meaning of growth in wholistic and more understand that economic growth is also include better echievements in social politics and economic policy dimension. These dimensions will not be reached if the government keep going its attention only on liberalization and modal accumulation. Keywords: Population Policy, One Child Policy, Family Planning, Economic Growth. Sejak One Child Policy diimplementasikan pada tahun 1979, terlihat dengan jelas pengaruh positif dan negatifnya terhadap kaum perempuan. Kebijakan satu anak adalah salah satu bagian sederhana dari grand strategi pertumbuhan ekonomi Cina, yang dirancang untuk membatasi pertumbuhan populasi dan mengurangi tekanan infrastruktur, ketenagakerjaan dan sumberdaya. Kebijakan ini efektif dalam membatasi hampir semua keluarga hanya memiliki satu anak. Masalahnya adalah bahwa kebijakan ini harus dipandang sebagai sebuah program jangka pendek, diimplementasikan untuk memberi negara kesempatan mencapai tujuan-tujuan ekonominya dan membantu mensosialisasikan nilai dari keluarga kecil, dan bukan sebagai solusi jangka panjang untuk tekanan ekonomi. Kritik terhadap kebijakan ini sudah banyak bermunculan, kebijakan ini membahayakan kaum perempuan dan implikasinya melanggar hak asasi manusi. Tulisan ini menganalisa posisi kebijakan satu anak dan implementasinya yang banyak mendapatkan pertentanga dan penurunan rasio tenaga kerja yang pensiun yang dapat mengancam stabilititas ekonomi Cina karena persoalan “aging population”. Pemerintah Cina perlu untuk memfokuskan makna pertumbuhan secara holistik dan lebih memahami bahwa pertumbuhan juga mencakup pencapaian yang lebih baik dalam dimensi sosial, politik, dan kebijakan ekonomi. Dimensi-dimensi ini tidak akan dapat dicapai jika pemerintah terus melanjutkan perhatiannya hanya pada liberalisasi dan akumulasi modal. Kata Kunci: Kebijakan Populasi, Kebijakan satu anak, Perencanaan Keluarga, Pertumbuhan Ekonomi

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The Relationship Between External Debt, Economic Growth, Unemployment and National Expenditure in Viet Nam

Journal of Economics and Management Sciences ◽

10.30560/jems.v1n2p129 ◽

2018 ◽

Vol 1 (2) ◽

pp. p129

Author(s):

Anh Tru Nguyen

Keyword(s):

Economic Growth ◽

Monetary Policy ◽

Fiscal Policy ◽

External Debt ◽

Viet Nam ◽

Credit Growth ◽

Short Run ◽

The Government ◽

The Relationship ◽

Macroeconomic Stability

The article examines the relationship between external debt, economic growth, unemployment and national expenditure in Viet Nam between 1987 and 2016. We found that the influence of a variable on other variables varies in the short run. We found that there are directional relationships between GDP and external debt and GDP and national expenditure. We also found that there are directional relationships between unemployment and external debt, GDP, and national expenditure. Results addressed directional relationships between national expenditure and external debt and GDP. There are two co-integrations among variables. In order to sustain macroeconomic stability in Viet Nam, fiscal policy should be re-examined to meet large development needs and monetary policy should be tightened to reduce credit growth. Specifically, external debt should be effectively managed by the government because an increase in external debt leads to a decrease in GDP and a growth of unemployment. Moreover, GDP should be facilitated to reduce unemployment in the economy. Lastly, unemployment needs to be controlled because it generates a boom of national expenditure and vice versa.

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PENGARUH EKSPOR TERHADAP PERTUMBUHAN EKONOMI INDONESIA

JURNAL EKONOMI DAN KEBIJAKAN PEMBANGUNAN ◽

10.29244/jekp.5.2.10-31 ◽

2018 ◽

Vol 5 (2) ◽

pp. 10-31

Author(s):

Dara Resmi Asbiantari ◽

Manuntun Parulian Hutagaol ◽

Alla Asmara

Keyword(s):

Economic Growth ◽

Significant Influence ◽

Capital Investment ◽

Industrial Sector ◽

Ordinary Least Squares ◽

Short Term ◽

Capital Goods ◽

Agricultural Export ◽

The Government

Economic growth is a matter of the economy in the long term and is influenced by various factors. This study aimed to analyze the effect of the agricultural export, industrial export, mining export, import of capital goods, government spending and gross fixed capital formation to economic growth of Indonesia. The analytical method used was Ordinary Least Squares (OLS) with Cochrane-Orcutt method. This study uses secondary data quarterly time series from 2000 Q1 to 2016 Q1 which is obtained from the Ministry of Trade, the Central Bureau of Statistics, Bank Indonesia and the Capital Investment Coordinating Board. The results showed that on the first model to see the effect of the aggregate exports on economic growth show that imports of capital goods have a significant influence in the short term to economic growth. While in the long term, the variables that have a significant impact on economic growth is GFCF. While the second model to see the role of exports by sector to economic growth getting results that exports in the industrial sector has a significant influence both in the short-term and long-term to economic growth. It concluded that outward looking policies has an effective impact to be applied in Indonesia if the Government to develop exports in the industrial sector.

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An Overview of Illegal Logging Situation in Peninsular Malaysia

Journal of Tropical Resources and Sustainable Science (JTRSS) ◽

10.47253/jtrss.v1i2.637 ◽

2013 ◽

Vol 1 (2) ◽

pp. 24-30

Author(s):

Iqtie Qamar Laila Mohd Gani ◽

Razak Wahab ◽

Mohd Sukhairi Mat Rasat

Keyword(s):

Negative Relationship ◽

Peninsular Malaysia ◽

Small Scale ◽

Illegal Logging ◽

Tropical Timber ◽

Food And Agriculture ◽

Food And Agriculture Organization ◽

The Government ◽

The Relationship

The trends of illegal logging and current situation of illegal logging in Peninsular Malaysia were studies. Data and information from year 2001 to 2010 on volume of log productions (m3) and volume of illegal log productions were collected from the government and private sectors such as the Forestry Department Peninsular Malaysia (FDPM), International Tropical Timber Organization (ITTO) and Food and Agriculture Organization (FAO). The data obtained were statistically analyzed using the correlation analysis to determine the direction and the strength of the relationship between log productions and illegal log productions. The results showed that the trends of illegal logging are on the increased. Eighteen percents (18%) of the logs cut annually are obtained from illegal operation. The log productions and illegal log productions resulted have a weak negative relationship as r = -0.271, p = 0.603 and do not significantly related. The illegal log productions are inversely related with the log productions. It can be concluded that the log productions in Peninsular Malaysia occurred in a small scale and the situation is under control. Proper long-term planning needs to be generated and implemented to prevent the problem from becoming worse.

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Corruption and Economic Growth in Nigeria (1980-2013)

Artha - Journal of Social Sciences ◽

10.12724/ajss.35.1 ◽

2015 ◽

Vol 14 (4) ◽

pp. 1 ◽

Cited By ~ 1

Author(s):

Ibrahim W ◽

Okunade A Sheu

Keyword(s):

Economic Growth ◽

Social Economic ◽

Human Life ◽

Economic Value ◽

Party Affiliation ◽

Short Term ◽

Political Will ◽

The Social ◽

The Relationship

Corruption is as aged as the existence of man and it exists in all sphere of human life. The persistency of corruption erodes the social economic value of a nation. The study investigates the relationship between corruption and economic growth in Nigeria, in the period 1980-2013, using the VAR analysis. The study finds the existence of long-term relationship between corruption and unemployment growth on the economic growth of Nigeria. Also, the study found no short-term relationship in corruption and unemployment on economic growth. Hence, the result in the analysis shows that corruption positively has a strong influence on the output of Nigeria. So the rise in growth rate experienced in Nigeria is influenced by high corruption rate in the country, which is making the few rich to be richer, eradicating the middle class and making the poor to be poorer. Therefore, there is a need to develop political will to prosecute anyone found guilty of corruption irrespective of their position, tribe, religion or party affiliation. Such a punishment would also serve as a deterrent to others and help improve real economic growth and development.

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PENGARUH EKSPOR TERHADAP PERTUMBUHAN EKONOMI INDONESIA

JURNAL EKONOMI DAN KEBIJAKAN PEMBANGUNAN ◽

10.29244/jekp.5.2.2016.10-31 ◽

2018 ◽

Vol 5 (2) ◽

pp. 10-31

Author(s):

Dara Resmi Asbiantari ◽

Manuntun Parulian Hutagaol ◽

Alla Asmara

Keyword(s):

Economic Growth ◽

Significant Influence ◽

Capital Investment ◽

Industrial Sector ◽

Ordinary Least Squares ◽

Short Term ◽

Capital Goods ◽

Agricultural Export ◽

The Government

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Dynamic Effects of Foreign Portfolio Investment on Economic Growth in Nigeria

Financial Markets Institutions and Risks ◽

10.21272/fmir.4(3).5-12.2020 ◽

2020 ◽

Vol 4 (3) ◽

pp. 5-12

Author(s):

O.W. Toyin ◽

Ad. E. Oludayol

Keyword(s):

Economic Growth ◽

Gross Domestic Product ◽

Foreign Investment ◽

Domestic Product ◽

Distributed Model ◽

Short Term ◽

Foreign Portfolio Investment ◽

Domestic Savings ◽

The Relationship

The slow growth rate and the deficit of full-fledged financial security have created the preconditions for studying the relationship between foreign investment and economic growth. In previous literature, key emphases on this issue were studied in the short term and in terms of static functioning of the economy. Thus, this article purposely studied the dynamic nature of the development of the relationship between foreign investment and economic growth in Nigeria from 1980 to 2018. The use of the Augmented-Dickey Fuller test confirmed the precondition for adopting dynamic techniques to test the significant role of foreign portfolio investment (among other analyzed factors – domestic savings, government capital expenditures, market capitalization) in the formation of gross domestic product. The use of the lag selection method allowed to determine the optimal lag for estimating the autoregressive distributed model, which substantiates the effectiveness and reliability of the autoregressive distributed lag model. The information base of the study was the statistical bulletin of the Central Bank of Nigeria. The results of empirical estimations in the short term showed that domestic savings had significant and negative impact on gross domestic product. The study empirically confirms and theoretically proves that foreign investment, domestic savings, government spending and market capitalization determine long-term trends in gross domestic product formation in Nigeria. Practically, the empirical result revealed that the presence of a significant deficit of domestic savings in Nigeria creates obstacles to successful economic growth in the country both in the short and long term; portfolio foreign investment accelerates economic growth in the long run to a greater extent than in the short run. Keywords: autoregressive distributed model, Dickie-Fuller test, economic growth, foreign investment, double gap theory.

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