Economic impact of unemployment and inflation on output growth in Bihar during 1990–2019

2021 ◽  
pp. 1-10
Author(s):  
Jitendra Kumar Sinha
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
New Technologies ◽  
Skill Development ◽  
Value Added ◽  
Physical Capital ◽  
Output Growth ◽  
Series Data ◽  
Positive Trend ◽  
Potential Productivity

The effects of unemployment and inflation on output growth based on time series data of Bihar (India) over the period 1990–2019 has been examined in this paper. The physical capital expansion in terms of infrastructure development along with skill development to provide employment opportunities to the youth appears to be the major determinant of boosting the potential productivity of physical and human capital and affecting positively the economic growth. The results indicated that there are significant and certain benefits from the increased supply and improvement in the quality of physical capital which increases labor productivity as well as investment in human capital. Thus, it is recommended that Bihar makes large-scale investments in infrastructure and skill development and carry-on renewal at opportune moments to keep steady the positive trend of economic growth over the years. The investments may be in terms of mechanized technologies, supporting infrastructure and appropriating the knowledge relating to their management; and adopting new technologies and practices involving better innovation in agriculture, forestry, manufacturing, and relevant skill development to sustain the growth of value-added.

scholarly journals TREND ANALYSIS OF TECHNOLOGICAL AND AGRICULTURAL ECONOMIC GROWTH IN NEPAL

2020 ◽  
Vol 2 (1) ◽  
pp. 28-30
Author(s):  
Ritesh Kumar Jha ◽  
Shiva Chandra Dhakal
Keyword(s):  
Economic Growth ◽  
Large Scale ◽  
Time Series Data ◽  
Value Added ◽  
Series Data ◽  
Soil Conditions ◽  
Technological Innovations ◽  
Positive Trend ◽  
Agricultural Technologies ◽  
Potential Productivity

The trend of agricultural technologies and agricultural value-added growth based on time series data of Nepal over the period 2001–2018 has been examined in this paper. The technological progress plays a major role in enhancing the potential productivity of land and affecting the economic growth positively. The results indicated that there are some benefits from the utilization of a system of technological innovations including mechanization. It was found that technological innovations pertaining to soil conditions, irrigation systems and chemical fertilizers might be beneficial to agricultural production growth in the long-term when they are managed in accordance with soil characteristics and in a balanced way. Thus, it is recommended that Nepal makes a large scale investment in agriculture and carry on renewal at opportune moments so as to keep steady the positive trend of the agricultural growth over the years. The investment may be in terms of mechanized technologies, supporting infrastructure and appropriating the knowledge relating to their management; and adopting new farming technologies and practices involving crop rotation, multi-cropping and agro-forestry so as to sustain the growth of agricultural value added.

scholarly journals IS HUMAN CAPITAL ACCUMULATION A GROWTH DRIVER IN NIGERIA? AN EMPIRICAL INVESTIGATION

2018 ◽  
Vol 3 (2) ◽  
pp. 66-77
Author(s):  
Hassan O. Ozekhome
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Accumulation ◽  
Physical Capital ◽  
The Other ◽  
Series Data ◽  
Human Capital Accumulation ◽  
Infrastructural Development ◽  
Long Run ◽  
Physical Capital Accumulation

Accumulation of human capital is critical to sustained economic growth in the long run, since it facilitates the efficient absorption of new capital developments, improves the speed of adaptation of entrepreneurs and generates innovation necessary for sustained economic growth. It is against this premise this study investigate the human-capital accumulation growth-nexus in Nigeria. Employing a dynamic approach, involving test for unit roots, and cointegration, and finally, the Generalized Method of Moments (GMM) estimation techniques on annual time series data, covering the period 1981 to 2016, sourced from the World Bank Development Indicators (WDI) and Central Bank of Nigeria (CBN) Statistical Bulletin, the empirical findings reveal that human and physical capital accumulation significantly induce rapid and sustained economic growth in the long-run. The other variables- infrastructural development (measured by ICT infrastructure) and industrial output (a measure of industrialization) have positive but weak impacts on economic growth, on account of the weak infrastructural development, and low level of industrialization in Nigeria. Inflation rate (a measure of macroeconomic policy environment) on the other hand, is found to have a militating effect on economic growth. We recommend amongst others; sustained investments in human and physical capital accumulation, stable and coherent macroeconomic policies, particularly with respect to taming of domestic inflationary pressures, supportive institutional structures and aggressive industrialization-enhancing policies, in order to enhance sustained economic growth in Nigeria.

scholarly journals Does Digitalization Increase Economic Growth? Evidence from ASEAN8 Countries

2019 ◽  
Vol 8 (2) ◽  
pp. 267-278
Author(s):  
Dewa Gede Sidan Raeskyesa ◽  
Erica Novianti Lukas
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
New Technologies ◽  
Positive Impact ◽  
Descriptive Analysis ◽  
Physical Capital ◽  
Middle Income ◽  
Independent Variables ◽  
Middle Income Countries

Digitalization has become relevant nowadays, not only because of the exposure of new technologies but also the consideration of its impact on the economy. In that regard, this study aims to analyze the effect of digitalization on economic growth. This study uses a descriptive analysis of the eight ASEAN middle-income countries from 1999 to 2014 as well as panel regression analysis with the dependent variable of GDP per capita growth and independent variables of physical capital, human capital, and ICT indicators. As a result, ICT indicators have a significant positive impact on economic growth, along with physical and human capital. The usage and intensity of ICT have a higher impact than access to ICT. Furthermore, human capital contributes the most among the other variables. We recommend the countries invest more in human capital to utilize ICT because it is the quality of human capital that matters to navigate the era of the digital economy.

scholarly journals An Empirical Examination on the Validity of Export-Led Growth: Evidence from Turkey

2017 ◽  
Author(s):  
Harun Bal ◽  
Emrah Akça
Keyword(s):  
Economic Growth ◽  
Export Performance ◽  
Import Substitution ◽  
Value Added ◽  
Output Growth ◽  
Series Data ◽  
Oriented Growth ◽  
Empirical Examination ◽  
Causality Relationship ◽  
Growth Hypothesis

The failure of attaining the desired outcome following the import substitution industrialization in the period of 1963-1980 led Turkey to adopt export-oriented growth (EOG) model after the 1980s. In this context, the impacts of export performance on economic growth are important for assessing how successful these practices are. With this motivation, the study aims to provide new empirical evidence on the validity of the export-led growth hypothesis in Turkey. The study employees time series data of the period 1990M1-2016M12 to examine the causality relation between export and economic growth. The Bootstrap approach developed by Hacker and Hatemi (2006) was followed in order to determine this relationship in the study. A two-way causality relationship between export and output growth is evident in test results based on the bootstrap simulation technique. Findings indicate that export-oriented growth hypothesis is not valid in narrow sense, whereas the hypothesis is valid in broad sense for Turkey. The overall results obtained from the study indicate that exports policies can be used as a tool to speed up economic growth with existing practices. However, the two-way causality relationship indicates that the increase in output growth has boosted exports by increasing imports of inputs used in export products. In this respect, in order to accelerate economic growth through the export-oriented strategies, Turkey needs to increase its domestic input production and the share of global value chains of local companies; in other words, it is necessary to focus on export of higher value added products.

scholarly journals Education And Economic Growth In Korea, 1966 To 1997

2011 ◽  
Vol 16 (4) ◽  
Author(s):  
Namchul Lee
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Human Capital ◽  
Time Series Data ◽  
Physical Capital ◽  
Series Data ◽  
Korean Society ◽  
Augmented Dickey Fuller ◽  
Aggregate Production Function

<p class="MsoNormal" style="text-align: justify; margin: 0in 37.8pt 0pt 0.5in;"><span style="mso-bidi-font-style: italic;"><span style="font-size: x-small;"><span style="font-family: Batang;">This paper examines the aggregate production function for Korea, using direct estimates of human capital.<span style="mso-spacerun: yes;">&nbsp; </span>The contribution of this study possibly provides be affirmation of the myriad role education plays in Korean society, including that of economic growth.<span style="mso-spacerun: yes;">&nbsp; </span>I have used the Cobb-Douglas production and time series data of physical capital, labor force, and human capital measurements. In terms of an estimation technique, I have used modern time series methods specifically designed to deal with covariance stationary based on the Augmented Dickey-Fuller (ADF) unit root tests.<span style="mso-spacerun: yes;">&nbsp; </span>To date, these techniques have not been frequently used to explore the nature of quantity and quality human capital variables, physical capital, and labor variables.<span style="mso-spacerun: yes;">&nbsp; </span>This study has led me to the conclusion that the level of human capital is a significant determinant for economic growth.<span style="mso-spacerun: yes;">&nbsp; </span>The coefficient for the quality of human capital stock, however, I found to be negative and significant.<span style="mso-spacerun: yes;">&nbsp; </span>These measures ignore the important role of training and learning through practice, and the productivity effect of the educational curriculum.</span></span></span></p>

Research on Efficiency of Physical Capital and Human Capital in China's Economic Growth

2012 ◽  
Vol 468-471 ◽  
pp. 2970-2973
Author(s):  
Xing Li ◽  
Liang Wang ◽  
Bang Yuan Wu
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Time Series Data ◽  
Physical Capital ◽  
Series Data ◽  
Absolute Amount ◽  
Output Efficiency ◽  
Annual Time Series ◽  
Input Ratio

Research on economic growth in the past concerns only with physical capital and human capital in the absolute amount of effects at the expense of the efficiency of the present situation, we use the 1981-2008 China's annual time-series data, with uniform measurement to build econometric models to study China's economic growth in the efficiency of physical capital and human capital. Our research results indicate that in the long term, human capital is of much higher output efficiency than physical capital; In the short term, increased input ratio of human capital causes average labour output to grow sustainably, and increased input ratio of physical capital only between the 1th and 2nd period dues to rapid increase in average labour output and then declined rapidly.

scholarly journals THE TESTING OF MONEY NEUTRALITY IN ECONOMIC GROWTH OF INDONESIA

2017 ◽  
Vol 1 (1) ◽  
pp. 12
Author(s):  
Muammil Sun’an ◽  
Amran Husen
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Output Growth ◽  
Broad Sense ◽  
Series Data ◽  
Analysis Tool ◽  
Real Sector ◽  
Short Term ◽  
Correction Model

<p>This study aim is to test the money neutrality in a narrow sense (M1) and a broad sense (M2) to the growth of output (GDP) in Indonesia, both in short term and long term. This research uses quarterly time series data at 2010 - 2016 periods. The analysis tool used is Error Correction Model (ECM). The results show that short-term money supply (M1 and M2) affect on output growth. However, in the long term, only money circulation in a broad sense (M2) affects on output growth, which also means that money is not neutral because it affects the real sector (GDP).</p><p> <strong>Keywords:</strong> M1, M2, Population, Capital, and Economic Growth.</p>

scholarly journals Intangible Assets and Economic Growth in Nigeria: An Empirical Investigation

2021 ◽  
pp. 74-84
Author(s):  
Okumoko Tubo Pearce ◽  
Cookey Ibeinmo Friday ◽  
Question Emomotimi Mcdonald
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Intellectual Property ◽  
Intellectual Capital ◽  
Significant Relationship ◽  
Service Sector ◽  
Intangible Assets ◽  
Government Expenditure ◽  
Series Data ◽  
The Impact

This work examines the impact of intangible assets on economic growth in Nigeria, using time series data from 1990 to 2019. Relevant theoretical and empirical literatures were reviewed. Government expenditure on research and development, intellectual capital proxied by human capital stock, intellectual property and service sector employment were regressed as independent variables against the real GDP (proxy for economic growth) as the dependent variable. Secondary data were used for this work. The ARDL bound test was adopted in estimating the model. We discovered that government expenditure on R&D, intellectual capital and intellectual property do not have significant relationship with economic growth proxied by RGDP; meanwhile service sector employment had a significant relationship with economic growth in Nigeria. Also, government expenditure on R&D; and service sector employment were rightly signed; while intellectual capital and intellectual property were not rightly signed. This implies that when government increases its expenditure on R&D, it will result to economic growth, so also service sector employment in the long-run. Meanwhile, an increase in intellectual capital and intellectual property will reduce RGDP. We therefore propose that government should upgrade its spending on R&D so as to boost intellectual capital and property. The government should also create employment for the stock of human capital. Finally, government institutions such as producers’ protection agencies should be empowered to protect intellectual properties in Nigeria.

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