scholarly journals Bank-Based versus Stock Market-Based Development in Nigeria: A Fully-Modified Ordinary Least Squares Approach

2021 ◽  
Vol 13 (1) ◽  
pp. 33-45
Author(s):  
SAMUEL OREKOYA ◽  
◽  
JOSEPH AFOLAB ◽  
OLUWATOYIN AKINTUNDE ◽  
◽  
...  
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Economic Performance ◽  
Ordinary Least Squares ◽  
Gdp Per Capita ◽  
Estimation Technique ◽  
Economic Prosperity ◽  
Auto Regressive ◽  
Per Capita ◽  
Least Squares Approach

This study examines the relative e§ectiveness of bank-based and market-based Önancial development on the economic growth of Nigeria with data from 1989 to 2018 us- ing the Auto-Regressive Distributive Lag (ARDL) estimation technique. The study found that bank-based Önancial development exerts positive and signiÖcant ináuence on Nigeriaís economic performance while stock market-based, rather than contributing positively to the economic prosperity, was found to have an insigniÖcant negative e§ect. Using GDP per capita growth for sensitivity analysis also showed a somewhat similar result. From this Önd- ing, the study concludes that bank-based Önancial development drives growth in Nigeria more than market-based. The study therefore recommends intensive Önancial literacy and inclusion campaign to create awareness and bolster public conÖdence in the stock market and the Önancial sector.

scholarly journals PENGARUH PMA, PMDN, TPAK, PDRB PERKAPITA, PENGELUARAN PEMERINTAH TERHADAP DISPARITAS PENDAPATAN JAWA

2020 ◽  
Vol 3 (2) ◽  
pp. 21-34
Author(s):  
Lorentino Togar Laut ◽  
Arinda Sita Putri ◽  
Yustirania Septiani
Keyword(s):  
Economic Growth ◽  
Labor Force ◽  
Labor Force Participation ◽  
Foreign Investment ◽  
Government Spending ◽  
Gdp Per Capita ◽  
Domestic Investment ◽  
Economic Prosperity ◽  
Income Disparities ◽  
Per Capita

AbstrakDistribusi pendapatan di Pulau Jawa masih belum merata, pertumbuhan ekonomi di Pulau Jawa belum mampu mencapai kesejahteraan ekonomi yang merata. Sehingga penelitian ini bertujuan untuk mengetahui bagaimana pengaruh penanaman modal asing, penanaman modal dalam negeri, tingkat partisipasi angkatan kerja, PDRB perkapita, dan pengeluaran pemerintah terhadap disparitas pendapatan di Pulau Jawa tahun 2008-2018. Jenis data adalah data sekunder yang bersumber dari Badan Pusat Statistik Indonesia dan Badan Koordinasi Penanaman Modal. Analisis data menggunakan regresi data panel Eviews 7. Hasil penelitian menunjukkan bahwa penanaman modal asing, penanaman modal dalam negeri dan pengeluaran pemerintah tidak berpengaruh signifikan terhadap disparitas pendapatan di Pulau Jawa tahun 2008-2018. Sedangkan variabel tingkat partisipasi angkatan kerja, PDRB perkapita, berpengaruh signifikan terhadap disparitas pendapatan di Pulau Jawa tahun 2008-2018. Dari seluruh variabel berpengaruh secara simultan terhadap disparitas di Pulau Jawa tahun 2008-2018.Kata Kunci :  Disparitas pendapatan; Kesejahteraan Ekonomi; Pertumbuhan Ekonomi;AbstractThe distribution of income in Java Island is still uneven, economic growth in Java has not been able to achieve equitable economic prosperity. So this study aims to determine how the effect of foreign investment, domestic investment, labor force participation rate, GDP per capita, and government spending on income disparities in Java in 2008-2018. The type of data is secondary  data sourced from the Indonesian Central Bureau of Statistics and the Investment Coordinating Board. Data analysis used Eviews 7 panel data regression. The results showed that foreign investment, domestic investment and government spending did not have a significant effect on income disparities in Java in 2008-2018. Meanwhile, the variable of the level of labor force participation, GDP per capita, has a significant effect on income disparities in Java in 2008-2018. Of all the variables simultaneously influence disparities in Java in 2008-2018. Keywords :  Income disparity; Economic Prosperity; Economic growth;

scholarly journals Has Albania's Economic Development Stalled? Investigating the Role of Institutional Factors in Albania's Economic Performance

2021 ◽  
Vol 10 (4) ◽  
pp. 114
Author(s):  
Myslym Osmani ◽  
Kledi Kodra ◽  
Drini Salko
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Rule Of Law ◽  
Economic Performance ◽  
Institutional Factors ◽  
Gdp Per Capita ◽  
Relative Growth ◽  
The Rule Of Law ◽  
Per Capita

This study focuses on the institutional factors of Albania's economic development, from a comparative, dynamic, and regional European perspective. We use longitudinal data for the years 2002, 2014, and 2019 and a small selection of 13 countries in the region and some EU member states. Descriptive statistics, graphical representation, and econometric modeling are used for data analysis. The purpose of the study is to discuss, in real and comparative terms with the region and beyond, the economic growth of Albania based on the GDP per capita indicator, as well as to identify and evaluate dynamically the role of institutions in the country's development through important institutional factors, such as the effectiveness of government, rule of law, corruption, etc. The analysis shows that Albania's economic performance is weakover the last two decades. This is reflected in the insufficient relative growth of GDP per capita, the small increase in per capita income, and especially in the low increase in income for every 1% of relative growth. In these indicators, Albania continues to be consistently in the lowest positions in the region and beyond. The study highlights the strong link between economic growth and the effectiveness of government, the rule of law, and weak control over corruption. Improving corruption control by one unit in the range (-2.5 to 2.5) is expected to improve GDP per capita by an average of about 2.2 times. Improving the rule of law by one point is expected to improve GDP per capita on average by about 2.4 times. The country's sluggish economic performance is mainly attributed to weak institutions.   Received: 4 March 2021 / Accepted: 6 May 2021 / Published: 8 July 2021

scholarly journals Inequality in the Income of the Population as a Determinant of the Country's Economic Growth

2020 ◽  
Vol 68 (6) ◽  
pp. 987-994
Author(s):  
Tamara Kocurová ◽  
David Hampel
Keyword(s):  
Economic Growth ◽  
Cluster Analysis ◽  
Regression Analysis ◽  
Income Inequality ◽  
Economic Performance ◽  
Negative Impact ◽  
Gdp Per Capita ◽  
Ratio Analysis ◽  
Eu Countries ◽  
Per Capita

In this article, there is explored the dependence of economic performance and economic growth on income inequality expressed by Gini coefficient and S80/S20 ratio. Analysis is based on data collected upon EU countries in years 2007, 2012 and 2017. Cluster analysis points out to heterogeneity of EU countries in observed characteristics and enables creation of three groups of countries: post-socialistic, southern and northern. Regression analysis, which takes into account groups of countries, was used to assess and illustrate the dependence. The results show that income inequality has a negative impact on the country's GDP per capita, and its impact on economic growth differs for particular groups of countries.

scholarly journals KAJIAN DAMPAK PEMEKARAN WILAYAH TERHADAP KINERJA EKONOMI DAERAH PESISIR DI PROVINSI BENGKULU

2014 ◽  
Vol 13 (2) ◽  
pp. 159-176
Author(s):  
Nyayu Neti Arianti ◽  
Indra Cahyadinata
Keyword(s):  
Economic Growth ◽  
Economic Performance ◽  
Coastal Region ◽  
Core Region ◽  
Gdp Per Capita ◽  
Autonomous Region ◽  
The Core ◽  
Before And After ◽  
Per Capita ◽  
The Impact

The aims of this research were to analyze  the impact of ECGI, WELFI, POVEI are used to regional divisions on coastal regions in Bengkulu Province to 1) economic  performances before and after the divisions, and 2) economic performances of Core Region, New  Autonomus Region, and both after the divisions. The results of this research : 1) the differential t test analyses of economic performance indicators in coastal region of Bengkulu Province  showed that the economic growth before and after the divisions were not different, the GDP per capita after the divisions was higher than before, and the poverty indexes were same between before and after the divisions, and 2) the economic performance after the divisions of coastal region in Bengkulu Province could be explained that the economic growth of the Core Region was the highest and stable whereas the economic growth of the New Autonomous Region was the lowest and tend to unstable, the highest GDP per capita was occured on the Core Region and the lowest one was on the New Autonomous Region, while the lowest poverty index was on the Core Region and the highest one was on the New Autonomous Region.Keywords : impact, regional divisions, economic performance, coastal region

L’histoire immobile? A reappraisal of French economic growth using the demand-side approach, 1280–1850

2021 ◽  
Author(s):  
Leonardo Ridolfi ◽  
Alessandro Nuvolari
Keyword(s):  
Economic Growth ◽  
Seventeenth Century ◽  
Economic Performance ◽  
Gdp Per Capita ◽  
Demand Side ◽  
French Economy ◽  
Long Run ◽  
Modern Economic Growth ◽  
Modern Economic ◽  
Per Capita

ABSTRACT We construct a new series of GDP per capita for France for the period 1280–1850 using the demand-side approach. Our estimates point to a long-run stability of the French economy with a very gradual acceleration toward modern economic growth. In comparative perspective, our new estimates suggest that England and France were characterized by similar levels of economic performance until the second half of the seventeenth century. It is only after that period that the English economy “forges ahead” in a consistent way.

scholarly journals The nexus between stock market development and economic growth

2016 ◽  
Vol 14 (1) ◽  
pp. 269-277
Author(s):  
Kunofiwa Tsaurai
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Gdp Per Capita ◽  
Market Development ◽  
Stock Market Development ◽  
Real Gdp ◽  
Real Gdp Per Capita ◽  
Short Run ◽  
Per Capita ◽  
The Relationship

The study investigated the relationship between stock market development and economic growth in Belgium using ARDL approach with annual time series data from 1988 to 2012. Real GDP per capita was used as a proxy for economic growth and stock market capitalization as a ratio of GDP as an approximate measure of stock market development. The relationship between stock market development and economic growth falls into four categories which are (1) stock market-led economic growth, (2) economic growth-led stock market development, (3) feedback effect and (4) neutrality hypothesis where the relationship between the two variables does not exist. Despite the existence of these four views on the relationship between stock market and economic growth, it appears from the literature review done by the author that majority of the empirical evidence support the stock market-led economic growth view. The fact that the topic on the directional causality between stock market and economic growth is still inconclusive is the major motivating factor why the author chose to investigate the relationship between the two variables in Belgium. The study observed that there exist an insignificant long run causality running from stock market development towards economic growth in Belgium. This relationship was not detected in the short run. Moreover, the reverse causality from real GDP per capita to stock market capitalization both in the long and short run was not detected in Belgium. These results are at variance with the majority of the empirical findings reviewed earlier on. It could possibly be that certain conditions that are necessary to enable stock market to significantly positively influence economic growth were not in place in Belgium. Therefore, the study urges the Belgium authorities to put in place the right environment, policies and programmes that enable the stock market to play its role of stimulating economic growth.

scholarly journals Foreign Investment, Government Expenditure, and Economic Growth in Malaysia

2010 ◽  
Author(s):  
Fatimah Said ◽  
Zarinah Yusof ◽  
Saad Mohd Said ◽  
Ahmad Farid OSMAN
Keyword(s):  
Economic Growth ◽  
Foreign Investment ◽  
Driving Forces ◽  
Negative Impact ◽  
Positive Impact ◽  
Government Expenditure ◽  
Real Income ◽  
Ordinary Least Squares ◽  
Gdp Per Capita ◽  
Per Capita

This study uses the ordinary least squares technique to examine the effect of foreign investment and government expenditure on the growth in GDP per capita in Malaysia over the period 1978-2005. The regression results showed that the growth of export and ratio of government expenditure to GDP are the driving forces in enhancing the economic growth in Malaysia. Foreign investment and previous year real income per capita growth depict positive impact, whereas population growth exerts a negative impact on economic growth.  

scholarly journals Does Good Governance Matter? Kazakhstan’s Economic Growth and Worldwide Governance Indicators

2020 ◽  
Vol 10 (1) ◽  
pp. 1-13
Author(s):  
Aikozha Absadykov
Keyword(s):  
Economic Growth ◽  
Economic Performance ◽  
Good Governance ◽  
Political Stability ◽  
Gdp Per Capita ◽  
Governance Indicators ◽  
Regulatory Quality ◽  
Per Capita ◽  
The Relationship ◽  
Control Of Corruption

Good governance is generally believed to improve country’s economic performance. This paper studies the relationship between the World Bank’s Worldwide Governance Indicators (Voice and Accountability, Political Stability and Absence of Violence, Government Effectiveness, Regulatory Quality, Rule of Law, Control of Corruption) and economic growth in terms of GDP per capita in Kazakhstan. The findings of the research indicate that there is a significant positive relationship between good governance and economic performance of Kazakhstan. Specifically, results show that the Control of Corruption has the strongest impact on GDP per capita. 

scholarly journals The Impact of Entrepreneurship on Economic Performance in Indonesia

2020 ◽  
Vol 66 (1) ◽  
pp. 1
Author(s):  
Yohanes B. Kadarusman
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Economic Performance ◽  
Large Scale ◽  
Gdp Per Capita ◽  
Small Scale ◽  
Entrepreneurial Ventures ◽  
Micro Scale ◽  
Per Capita ◽  
The Impact

Entrepreneurship is claimed to have a positive and significant effect on economic growth in developed countries, but less so in developing countries. Using the growth model, this study examines the impact of entrepreneurship on economic performance in Indonesia as indicated by economic growth and income per-capita from 1985 to 2017. The estimation result confirms the non-significant effect of the growth of entrepreneurial ventures on the growth of GDP per-capita. However, the accumulation of the ventures has a positive and significant effect on the level of GDP per capita. The different typology of entrepreneurial ventures in Indonesia provides some insight to explain the finding, namely: scale does matter. Indonesia already has abundant micro-scale entrepreneurs, but it has only a limited amount of small-scale entrepreneurs, and even fewer medium or large-scale entrepreneurs. This finding contributes to a better understanding of the statistically non-significant impact of entrepreneurship on economic growth in developing countries. This study also suggests that entrepreneurship policy in Indonesia should focus more on facilitating micro-scale ventures to continuously develop toward small, medium, and ultimately large-scale enterprises rather than on creating start-ups.

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.

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