scholarly journals INSTITUTIONAL FACTORS OF ECONOMIC PERFORMANCE: EVIDENCE FROM THE WORLD VALUE SURVEY

2021 ◽  
Vol 7 (2) ◽  
pp. 146-160
Author(s):  
Andriy Maksymuk ◽  
Nataliya Kuzenko
Keyword(s):  
Regression Analysis ◽  
Oecd Countries ◽  
High Income ◽  
Institutional Factors ◽  
Gdp Per Capita ◽  
Strong Positive Correlation ◽  
Middle Income ◽  
The World ◽  
Per Capita ◽  
The Impact

This article highlights the impact of values on the country’s welfare. Values that are quite constant over a long period of time form an institutional framework within the country. They can contribute to economic development or even prevent it. The aim of the article is to explore, what is the influence of social values, democracy and trade on welfare levels in different counties. The hypothesis is that the dominance in society of secular-rational values and the values of self-expression, democracy and trade (openness to the world) have a positive effect on the level of welfare of countries. The empirical part of the paper is based on the comparative analysis of relationship between GDP per capita and four values such as tolerance and respect, obedience, trust and freedom of choice for two waves of WVS – 2005-2009 and 2010-2014. Using correlation and regression analysis, the relationships between these indicators were evaluated. These values have a positive impact on welfare in OECD countries, some countries of Latin America, Asia and Africa with middle income per capita. However, there is a negative relationship between obedience and GDP per capita. This value is more important for some African and Asian countries and India. The relationship between GDP per capita and the aggregate value index showed a strong positive correlation for OECD countries. Then the regression model was estimated to assess the impact of values, trade and level of democracy on welfare growth and development. The results of the regression analysis showed a significant effect of the aggregated value indicator for all six samples, but this effect is weaker for high-income countries. The effect of the level of democracy is significant and positive only for the sub-sample of democratic countries, while it is negative for high-income countries. The effect of the level of trade on GDP per capita is statistically significant for the sample of all countries, the sub-sample of non-democratic countries and the sub-sample of high income and upper-middle income countries. Thus, we conclude that the institutional factors (the values and the level of democracy) are important determinants of GDP per capita for democratic countries while for non-democratic countries trade is more important.

scholarly journals Macroeconomic indicators and student mobility: a case study of the African countries most actively involved in FAO student mobility

2021 ◽  
Vol 190 (5-6(2)) ◽  
pp. 75-85
Author(s):  
Henrietta Janik ◽  
◽  
Zsuzsanna Tóth-Naár ◽  
Keyword(s):  
Higher Education ◽  
Regression Analysis ◽  
Student Mobility ◽  
Gdp Per Capita ◽  
Internationalization Of Higher Education ◽  
Strong Positive Correlation ◽  
African Countries ◽  
Scholarship Students ◽  
Macroeconomic Indicators ◽  
Per Capita

The internationalization of higher education is one of the most current topics related to education today. The number of foreign students in major higher education institutions is increasing, and international collaborations in the field of education and research are becoming more frequent. Even though the topic is so tangible in proximity, still little is known about the process of internationalization of higher education and the factors that support and hinder the phenomenon. The theoretical significance of this study is the regression analysis of the revealed literature and statistical data, while the practical significance is the possible comparative study of the research carried out in the international context depending on the number of FAO scholarship students coming to Hungary from African countries. The study covers 12 years of mobilities from 2008 to 2020. The study presents the distribution of FAO scholarship students arriving in Hungary from African countries and analyses a correlation between macroeconomic indicators, student mobility and the likelihood of international migration regarding sending African countries, using linear regression analysis and SPSS as a statistical method. For this analysis the data from the ILOSTAT Database has been used. The result of the study is that there are correlations between indicators in only a few cases, such as the HDI and MPI index of the African countries and GDP per capita. The GDP per capita has really strong positive correlation with the HDI index. There is a medium correlation between agriculture, forestry, and fishing, value added (% of GDP) and the employment in agriculture in the examined African countries. Also, our results suggest there is a moderately strong negative correlation between MPI index and GDP per capita.

scholarly journals Globalization of World Economy: Trends and Contradictions

2021 ◽  
Vol 65 (4) ◽  
pp. 5-13
Author(s):  
G. Feigin
Keyword(s):  
Low Income ◽  
Regional Integration ◽  
World Economy ◽  
Gdp Per Capita ◽  
Social Differences ◽  
Middle Income ◽  
Fdi Inflows ◽  
Global Migration ◽  
The World ◽  
Per Capita

Received 01.11.2020. The interpretation of the term “globalization” and differences to other terms characterizing the development of the world economy (internalization of the world economy, internal division of labor, regional integration) is given. The main signs of globalization (dynamic of trade volumes, FDI inflows, portfolio investments and international credits; internalization of technical progress; digitalization of economy; development of regional economic integration, global migration; TNC activities; transformation processes in the former socialistic countries) are summarized. The focus is on differences between long trends (since 1970) and actual development after the crisis (since 2010). The legitimacy of introduction of the term “deglobalization” is discussed. The modern model of the globalization (global capitalism) is analyzed. Based on some characteristics of this model (global competition, market fluctuations, unbalanced trade flows, social differences, fragility of the global governance), the critical arguments are considered and opportunities of transition to the new model of globalization in the next future are estimated. The relation of catch-up development and polarization in the era of the globalization is analyzed. The dynamics of GDP development of countries in 1972–2018 are summarized. The focus is on the relation between GDP per capita for countries with high income and countries with both law and middle income. The influences of global activities of countries on the level of GDP per capita are highlighted. The empirical basics are data of KOF-Index. The sample includes countries with both middle and low income which held positions in the ranking in KOF-Index from 27 till 182. The positive interdependence between (based on the KOF-Index) and level of GDP is identified. The conclusion about the potential future of the globalization is given.

On the structure of the present-day convergence

2014 ◽  
Vol 31 (2/3) ◽  
pp. 139-152 ◽  
Author(s):  
Andrey Korotayev ◽  
Julia Zinkina
Keyword(s):  
Global Convergence ◽  
Low Income ◽  
High Income ◽  
Low Income Countries ◽  
Unconditional Convergence ◽  
Gdp Per Capita ◽  
Middle Income ◽  
Content Type ◽  
Middle Income Countries ◽  
Per Capita

Purpose – A substantial number of researchers have investigated the global economic dynamics of this time to disprove unconditional convergence and refute its very idea, stating the phenomenon of conditional convergence instead. However, most respective papers limit their investigation period with the early or mid-2000s. In the authors’ opinion, some of the global trends which revealed themselves particularly clearly in the second half of the 2000s call for a revision of the convergence issue. The paper aims to discuss these issues. Design/methodology/approach – Several methodologies for measuring the global convergence/divergence trends exist in the economic literature. This paper seeks to contribute to the existing literature on unconditional β-convergence of the per capita incomes at the global level. Findings – In the recent years, the gap between high-income and middle-income countries is decreasing especially rapidly. The gap between high-income and low-income countries, meanwhile, is decreasing at a much slower pace. At the same time, the gap between middle-income and low-income countries is actually widening. Indeed, in the early 1980s GDP per capita in the low-income countries was on average three times lower than in the middle-income countries, and this gap was totally overshadowed by the more than ten-time abyss between the middle-income and the high-income countries. Now, however, the GDP per capita in low-income countries lags behind the middle-income ones by more than five times, which is largely the same as the gap (rapidly contracting in the recent years) between the high-income and the middle-income countries. This clearly suggests that the configuration of the world system has experienced a very significant transformation in the recent 30 years. Research limitations/implications – The research concentrates upon the dynamics of the gap in per capita income between the high-income, the middle-income, and the low-income countries. Originality/value – This paper's originality/value lies in drawing attention to the specific changes in the structure of global convergence/divergence patterns and their implications for the low-income countries.

Taxes and bribes: assessing the extraction burden in orderly and disorderly societies

2003 ◽  
Vol 11 (3) ◽  
pp. 365-383 ◽  
Author(s):  
DANIEL TARSCHYS
Keyword(s):  
Transaction Costs ◽  
Oecd Countries ◽  
Gdp Per Capita ◽  
Breeding Ground ◽  
Composite Measure ◽  
Doing Business ◽  
The World ◽  
Per Capita ◽  
Push Up

Countries with a low GDP per capita generally have a much lower fiscal quota than OECD countries, but many other factors push up the transaction costs in poor economies. High-tax societies provide more security, predictability and organizational discipline. The absence of such conditions is a powerful breeding-ground for corruption. If fiscal payments and bribes are added up to arrive at a composite measure of the ‘extraction burden’ in different countries, we might find that the costs of doing business do not diverge so much in various parts of the world.

scholarly journals The Nexus between Education and Economic Growth: Analyzing Empirically a Case of Middle-Income Countries

2020 ◽  
Vol 3 (2) ◽  
pp. 43-60
Author(s):  
Lamia Jamel ◽  
Monia Ben Ltaifa ◽  
Ahmed K Elnagar ◽  
Abdelkader Derbali ◽  
Ali Lamouchi
Keyword(s):  
Economic Growth ◽  
Labour Force ◽  
Sub Saharan Africa ◽  
Gdp Per Capita ◽  
Middle Income ◽  
Middle Income Countries ◽  
The Pacific ◽  
Per Capita ◽  
Sub Saharan ◽  
The Impact

The purpose of this paper is to examine empirically the nexus between education accumulation and economic growth for a sample of middle-income countries through panel data regressions. The sample consists of 28 middle-income countries from various continents: North Africa and the Middle East (6 countries), sub-Saharan Africa (7 countries), Latin America and the Caribbean (8 countries), East Asia and the Pacific (3 countries), and Europe and Central Asia (4 countries). Education is measured by quantitative (average years of labour force study) and qualitative indicators (student scores on international assessments of educational achievements). To test the impact of education accumulation on GDP per capita growth, a static panel is used during the period of study from 1970 to 2014. A dynamic panel is also being developed to estimate the effect of the education stock on the growth rate of GDP per capita. The results confirm the positive and significant impact of the education quantity and quality on economic growth, both in level and variation. The stock of education and its increase are positively affecting the growth. Moreover, this paper’s original findings suggest that the quality of education is more significant than its quantity.

scholarly journals Socio-economic Development and Anti-government Protests in Light of a New Quantitative Analysis of Global Databases

2020 ◽  
Vol 26 (4) ◽  
pp. 61-78
Author(s):  
Andrey Korotayev ◽  
Patrick Sawyer ◽  
Leonid Grinin ◽  
Daniil Romanov ◽  
Alisa Shishkina
Keyword(s):  
Formal Education ◽  
Negative Binomial ◽  
Negative Binomial Regression ◽  
High Income ◽  
Gdp Per Capita ◽  
Negative Binomial Regression Model ◽  
Strong Positive Correlation ◽  
Per Capita Gdp ◽  
Positive Correlation ◽  
Per Capita

Previous studies have revealed a somewhat paradoxical strong positive correlation between per capita GDP and the intensity of anti-government demonstrations observed for the vast majority of countries (indeed, it turns out that the better people live, the more likely they are to join anti-government protests). The goal of this article is to identify possible causes of this unusual correlation. Our tests show that the processes of democratization and urbanization, as well as the expansion of formal education, are likely to be the main factors determining the positive relationship between per capita GDP and the intensity of antigovernment demonstrations, as urbanization, democratization, and expansion of education lead to an increase in the intensity of protests. Moreover, when controlling for these factors, the relationship between per capita GDP and anti-government protests becomes negative. Thus, high per capita GDP turns out to be a direct (proximate) significant negative factor affecting the intensity of anti-government demonstrations, but at thesame time it is an ultimate, even more significant positive factor in the intensity of protests. The growth of per capita GDP is quite naturally accompanied by an increase in the level of urbanization, democratization and education, which more than compensates for the direct inhibiting effect on the protests on the part of the growing per capita GDP (at least for low- and middle-income countries). In addition, the negative binomial regression model that we propose can explain not only the strong positive correlation between per capita GDP and the intensity of protests, which can be traced for a range of GDP per capita values of less than $20,000, but also the weaker negative correlation recorded for the range exceeding $20,000. The fact is that in rich countries urbanization, democratization and education indicators reach saturation levels and the vast majority of high-income countries have more or less similar levels for all three indicators. As a result, for a zone of per capita GDP values of more than $20,000, we are essentially dealing with automatic control of the correlation between GDP per capita and the intensity of protests for factors of democratization, education and urbanization, and, as our model predicts, the final effect of GDP per capita on the intensity of protests for high-income countries becomes negative, not positive.

scholarly journals The Impacts of Financial Development on Green and Non-Green Energy Consumption: Empirical Evidence From OPEC Countries

2020 ◽  
Author(s):  
Faris Alshubiri ◽  
Mohamed Elheddad ◽  
Syed Jamil ◽  
Nassima Djellouli
Keyword(s):  
Energy Consumption ◽  
Financial Development ◽  
Environmental Quality ◽  
Green Energy ◽  
Gdp Per Capita ◽  
Green Growth ◽  
The World ◽  
Domestic Credit ◽  
Per Capita ◽  
The Impact

Abstract This paper aims to examine the impact of financial development on green and non-green energy consumption in the Organization of the Petroleum Exporting Countries (OPEC) over the period of 1990–2015.The data was collected from the Green Growth Knowledge Platform Database and the World Development Indicators (WDI) of the World Bank for 14 OPEC countries over the period of 1990–2015.We used two different proxies for financial development: (1) domestic financial development, measured by domestic credit in the private sector as a percentage of gross domestic product(GDP), and (2)foreign financial development, measured by the foreign direct investment (FDI) stock as a share of GDP. The main model developed three hypotheses; the first two were sub-hypotheses that characterized green energy through proxies: access to improved sanitation and access to electricity. The third hypothesis was anon-green (brown) energy proxy using CO2 emissions per capita. All three hypotheses used five control variables: by GDP per capita, urbanisation/total population ratio, oil rent/GDP ratio, investment/GDP per capita ratio and trade openness. In order to evaluate these hypotheses, we used the instrumental-variable (IV) approach with a fixed effect option to control for both endogeneity and heterogeneity, and we used the lags of the independent variables as instruments for financial development, as lagged variables are arguably exogenous. The impacts of financial development on environmental quality varied between foreign direct investments (foreign financial development) and the domestic credit ratio (domestic financial development). Our main results suggest that FDI degrades environmental quality in OPEC economies, and FDI represents a source of pollution by increasing CO2 emissions per capita (non-renewable) by about 0.0224% and decreasing non-renewable energy consumption variables. In other words, FDI’s non-renewable and renewable relationship supports the non-green growth hypothesis.JEL Classification B22. B26. D53. E21. F63. K32

scholarly journals Measurement of the real urbanization level in China and its international comparison

2019 ◽  
Vol 2 (2) ◽  
pp. 287-317
Author(s):  
Jiming Cai ◽  
Du Guonan ◽  
Liu Yuan
Keyword(s):  
Rapid Development ◽  
High Income ◽  
Middle Income ◽  
Urbanization Level ◽  
Content Type ◽  
The Real ◽  
Middle Income Countries ◽  
The World ◽  
Per Capita ◽  
Urbanization Rate

Purpose The purpose of this paper is to estimate the real urbanization level in China so as to provide a measurement that can be compared with the international level. Design/methodology/approach Taking into consideration 300m residents living in the administrative towns (300m residents here are referred to the population in administrative towns, including those in all counties), the gap between the urbanization rate of China and that of the world average becomes much wider. Findings China, however, implements the administrative system of government at the central, provincial, municipal, county and township levels. By city, it means the jurisdiction at and above the level of county, which includes the municipality directly under the central government, prefecture-level municipal and county. By town, it means the jurisdiction below the level of county (including the Chengguan Town, or capital town, where the county government is located) and exclusive of rural townships. Originality/value China has witnessed rapid development for 40 years since the reform and opening up in 1978. Nowadays, China has already stepped into the period of post-industrialization, with its urbanization rate (UR) of permanent population reaching 58.58 percent. However, on the basis of registered population, the UR is 43.37 percent, which is not only far below the average level of 81.3 percent in high-income countries, but also lower than the average of 65.8 percent in upper middle-income countries which are comparable to China in terms of per capita income. (The classification of state income level is based on the data of national income per capita and division standards in 2016 from the World Bank, in which annual revenue per capita in high-income countries reaches over US$12,736 and that in upper middle-income countries between US$4,126 and US$12,735.)

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