Relationship among Energy Consumption, Inflation, Human Capital and Economic Growth: Evidence from Indonesia

The main focus of the study was to evaluate the relationship among energy consumption, human capital, inflation and economic growth in the case of Indonesia. The study uses secondary data to conduct the study on Indonesia. The rationale behind selecting the secondary data collection method is to draw the analysis and results on the basis of existing information rather than relying over human perspective of opinions. The data in the study consist of energy consumption, human capital index, GDP per capita and inflation. The time frame that is selected for the collection of data is from 1970 till 2018 which overall makes the time period of 49. The tools that are adopted for conducting the analysis is the unit root test and autoregressive distributed lag (ARDL). The result of the study has revealed that the human capital has a significant influence on the energy consumption of Indonesia. The other elements that are also found to have significant impact are the lag of energy consumption, GDP per capita and lag of GDP per capita. With the higher consumption of energy along with the increasing human capital is significantly and positively influencing the GDP growth of Indonesia.

Download Full-text

Examining GDP Growth and Its Volatility: An Episodic Approach

Entropy ◽

10.3390/e23070890 ◽

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.

Download Full-text

HUMAN RESOURCES DEVELOPMENT OF REPUBLIC OF CROATIA AND PRIMORSKOGORANSKA COUNTY AND THEIR INFLUENCE ON ECONOMIC GROWTH∗

Tourism and hospitality management ◽

10.20867/thm.15.1.2 ◽

2009 ◽

Vol 15 (1) ◽

pp. 13-24

Author(s):

Nada Karaman Aksentijevic ◽

Zoran Jezic

Keyword(s):

Economic Growth ◽

Human Capital ◽

Human Resources ◽

Gdp Per Capita ◽

Human Resources Development ◽

Regression Analyses ◽

Theoretical Part ◽

Educational Structures ◽

Indirect Indicator ◽

Per Capita

In the theoretical part of research authors will establish connections and diversities between human capital and human resources categories. In the empirical part of research, via HDI, it will be evaluated the development of human resources in Republic Of Croatia and in Primorsko-goranska County and in will be evaluated relation between HDI and GDP per capita of Croatia and in Primorsko-goranska County. Authors will also analyze how much development of human resources has contributed to the economic growth of Republic Of Croatia. In order to demonstrate this it will be measured influence of investment, employment and educational structures (the indirect indicator of development of human resources) on the growth of GDP in the period of 1997-2005 with usage of regression analyses.

Download Full-text

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.

Download Full-text

PERTUMBUHAN PENDUDUK, INFLASI DAN KORUPSI: ANALISIS EMPIRIS ENVIRONMENTAL KUZNETS CURVE (EKC) DI KAWASAN ASEAN PERIODE 2002-2016

JURNAL DINAMIKA EKONOMI PEMBANGUNAN ◽

10.14710/jdep.1.3.71-81 ◽

2019 ◽

Vol 1 (3) ◽

pp. 71

Author(s):

Muhammad Fajri Setia Trianto ◽

Evi Yulia Purwanti

Keyword(s):

Economic Growth ◽

Population Growth ◽

Co2 Emissions ◽

Environmental Kuznets Curve ◽

Secondary Data ◽

Gdp Per Capita ◽

Environmental Damage ◽

Kuznets Curve ◽

Per Capita ◽

The Impact

The economy that continues to grow has the impact of environmental damage. This study aims to prove empirically the Environmental Kuznets Curve (EKC) hypothesis by analyzing the relationship of economic growth with environmental damage as measured by GDP per capita, and CO2 emissions. The data used are secondary data in the form of data on GDP per capita, CO2 emissions, population growth, inflation, and control of corruption in 10 countries in the ASEAN region in 2002-2016. Data analysis using the Fixed Effect model. The results show that there is a relationship between economic growth and environmental damage that forms an inverted U curve. Economic growth will initially have a positive effect on environmental damage so that at a point of economic growth negatively affects environmental damage. By adding control variables: population growth, inflation and corruption, inflation and corruption positively impact environmental damage, while population negatively affect environmental damage.

Download Full-text

EXPORT-GROWTH NEXUS WHILE USING THE BLOCK EXOGENEITY: EMPIRICAL EVIDENCE FROM PAKISTAN

International Journal of New Economics and Social Sciences ◽

10.5604/01.3001.0014.3531 ◽

2020 ◽

Vol 11 (1) ◽

pp. 25-46

Author(s):

Zia Ur Rahman

Keyword(s):

Economic Growth ◽

Trade Openness ◽

Time Frame ◽

Capital Formation ◽

Gdp Per Capita ◽

Real Gdp ◽

Real Gdp Per Capita ◽

Per Capita ◽

Import Trade ◽

Bound Test

The core objective of the study is to analyze the association between export and eco-nomic growth under the consideration of the time frame 1967 to 2017 for Pakistan economy. The review of literature assists to find out the frequently utilize factors are the real GDP per capita, export, import, trade openness, fiscal development and capi-tal formation possible determinants of the economic growth. However, Export Led Growth (ELG) hypothesis is oftenly employed to elaborate the affiliation between ex-port and the growth. Autoregressive distributed lag (ARDL) bound test approach to cointegration accompanied with the structural break and vector auto regressive (VAR) are employed to analysis the long-term association among real GDP per capita, ex-port, import, trade openness, fiscal development and capital formation. The empirical analysis confirms the cointegration among the factors and the ELG hypothesis holds in Pakistan economy. The Block Exogeneity reveals that export and the capital for-mation have strong influence to stimulate the economic growth. While all the other factors have cumulative influence on the growth. Moreover, the impulse response exposes that if the shock of real GDP per capita, import, trade openness, fiscal devel-opment and the capital formation are given to the export, then response of export would be positive in the coming time frame.

Download Full-text

Dynamic linkages between renewable energy, carbon emissions and economic growth through nonlinear ARDL approach: Evidence from Iran

PLoS ONE ◽

10.1371/journal.pone.0253464 ◽

2021 ◽

Vol 16 (7) ◽

pp. e0253464

Author(s):

M. S. Karimi ◽

S. Ahmad ◽

H. Karamelikli ◽

D. T. Dinç ◽

Y. A. Khan ◽

...

Keyword(s):

Economic Growth ◽

Renewable Energy ◽

Energy Consumption ◽

Carbon Emissions ◽

Gdp Per Capita ◽

Bounds Testing ◽

Renewable Energy Consumption ◽

Economic Implications ◽

Long Run ◽

Per Capita

This study examines the relationship between economic growth, renewable energy consumption, and carbon emissions in Iran between 1975–2017, and the bounds testing approach to cointegration and the asymmetric method was used in this study. The results reveal that in the long run increase in renewable energy consumption and CO2 emissions causes an increase in real GDP per capita. Meanwhile, the decrease in renewable energy has the same effect, but GDP per capita reacts more strongly to the rise in renewable energy than the decline. Besides, in the long run, a reduction of CO2 emissions has an insignificant impact on GDP per capita. Furthermore, the results from asymmetric tests suggest that reducing CO2 emissions and renewable energy consumption do not have an essential role in decreasing growth in the short run. In contrast, an increase in renewable energy consumption and CO2 emissions do contribute to boosting the growth. These results may be attributable to the less renewable energy in the energy portfolio of Iran. Additionally, the coefficients on capital and labor are statistically significant, and we discuss the economic implications of the results and propose specific policy recommendations.

Download Full-text

Human Capital Analysis Affects Economic Growth

Konfrontasi: Jurnal Kultural, Ekonomi dan Perubahan Sosial ◽

10.33258/konfrontasi2.v8i2.145 ◽

2021 ◽

Vol 8 (2) ◽

pp. 78-91

Author(s):

Veronika Nugraheni Sri Lestari ◽

Dwi Cahyono ◽

Nikolai Rezky Miftahurrachman

Keyword(s):

Economic Growth ◽

Human Capital ◽

Life Expectancy ◽

Quantitative Research ◽

Average Length ◽

Secondary Data ◽

Capita Consumption ◽

Per Capita ◽

The Government ◽

Per Capita Consumption

This study focuses on finding out whether human capital, which is an indicator of the quality of human resources, has a significant effect on economic growth. This study uses several indicators, including life expectancy, literacy, consumption, and the average length of schooling. One of the inhibiting factors for economic growth is poverty, so that the Government has implemented various programs aimed at alleviating poverty. This is quantitative research. The data used is secondary data obtained from the Central Statistics Agency (BPS) of East Java Province. The data obtained includes life expectancy, per capita consumption, average length of schooling, literacy rates, poverty, and economic growth in East Java during the 2010-2015 period. The results showed that Life Expectancy, Per capita Consumption, Average Length of Schooling, and Poverty had no significant effect on economic growth in East Java Province. However, literacy rate had a significant effect on economic growth in East Java during the 2010-2015 period.

Download Full-text

Assessment of Macroeconomics Determinants on Islamic Banking Profitability and Liquidity in United Arab Emirates and Tanzania

Asian Journal of Economics Business and Accounting ◽

10.9734/ajeba/2021/v21i830408 ◽

2021 ◽

pp. 17-28

Author(s):

Omar Salim Ali

Keyword(s):

United Arab Emirates ◽

Statistical Significance ◽

Unit Root Test ◽

Secondary Data ◽

Islamic Banking ◽

Islamic Banks ◽

Macroeconomic Variables ◽

Islamic Bank ◽

Distributed Lag ◽

Per Capita

Aims: This paper studies the determinants of Islamic banking profitability and liquidity in the United Arab Emirates (UAE) and Tanzania. It was comparative study. The study gives empirical comparisons between Islamic banks in United Arab Emirates (UAE) and Tanzania in their performance bases. Study design: This study covers the samples of five (5) Islamic banks where by two (2) banks from Tanzania that are People Bank of Zanzibar in Islamic branch (PBZIB) and Amana Islamic bank (AIB). In the side of United Arab Emirates (UAE) three (3) Islamic banks were selected which includes Dubai Islamic Bank (DIB), First Abu Dhabi Bank (FAD) this is not an IB and Emirates Islamic Bank (EIB). The study used secondary data of selected variables which employing panel data for the period of ten (10) years from 2010- 2019. Due to data was on panel bases which includes the two independents variables. Methodology: To calculate profitability, the Return on Assets (ROA) was used and in liquidity in IBs deposit ratio (LDR) used to measure the liquidity .The study uses descriptive statistical analysis, correlation, multiple regression analysis for two equations according to settled objectives. The three macroeconomic variables were selected that are Gross Domestic Product per capita (GDP), inflation (INF) and exchange rate (EXCH). An autoregressive distributed lag (ARDL) model was applied because the result becomes mixed in the unit root test. Results: The findings reveal satisfactory evidence that all selected variables are statistical significance in long run relationship except inflation in UAE. The outcomes of the study indicated that selected macroeconomic variables (GDP per capita, Inflation and exchange rates have a major 5% effect on bank profitability and liquidity in Tanzania and the United Arab Emirates. Conclusion: The study therefore recommends the Tanzania Islamic banks should adopt several policies in order to control the liquidity which is very difference like UAE banks.

Download Full-text

Energy consumption and economic development in Guangdong, China: Distribution, relationship and causes

10.21203/rs.3.rs-160873/v1 ◽

2021 ◽

Author(s):

Mengmeng Hu ◽

Yafei Wang ◽

Beicheng Xia ◽

Guohe Huang

Keyword(s):

Economic Growth ◽

Economic Development ◽

Energy Consumption ◽

Energy Intensity ◽

Hot Spot ◽

Generalized Method Of Moments ◽

Gdp Per Capita ◽

Per Capita ◽

The Pearl River ◽

Panel Vector Autoregression

Abstract Analysing the relationship between energy consumption and economic growth is essential to achieve the goal of sustainable development. We employ hot spot analysis to discover the spatial agglomeration of GDP per capita and energy intensity in Guangdong, China, from 2005–2018. Furthermore, panel vector autoregression coupled with a system generalized method of moments is performed to examine the dynamic causal relationship between energy consumption and economic growth under the framework of the Cobb-Douglas production function. Using a multivariate model and grouped studies based on the differences in regional economic development, we show that the GDP per capita of the Pearl River Delta (PRD) is significantly higher than that of the peripheral municipalities. However, energy intensity shows an entirely different spatial distribution. The development of the regional economy depends on its own “assembling effect”. GDP explains approximately 68.3% of the total variation in energy consumption in the PRD and only approximately 34.5% of that in the peripheral municipalities. We do not confirm Granger causality between energy consumption and economic development. Guangdong can decrease its energy consumption growth without substantially sacrificing its economic growth. The analysis framework of this paper has significant implications for regions in balancing economic development and energy consumption.

Download Full-text

Energy Consumption - Economic Growth Relationship and Carbon Emissions in Twelve Provinces of West of China

Applied Mechanics and Materials ◽

10.4028/www.scientific.net/amm.178-181.885 ◽

2012 ◽

Vol 178-181 ◽

pp. 885-892 ◽

Cited By ~ 2

Author(s):

Yong Ping Bai ◽

Jing Yang

Keyword(s):

Economic Growth ◽

Energy Consumption ◽

Carbon Emissions ◽

Income Elasticity ◽

Gdp Per Capita ◽

Great Effort ◽

Real Gdp ◽

Real Gdp Per Capita ◽

Per Capita ◽

Level Group

This paper applies the panel unit root, heterogeneous panel cointegration and panel-based dynamic OLS to re-investigate the co-movement and relationship between energy consumption and economic growth for 12 provinces(autonomous regions, municipalities) in West of China from 1989 to 2009. The empirical results show that there is a positive long-run cointegrated relationship between real GDP per capita and energy consumption variables. Furthermore, we investigate three cross-regional groups, namely the stronger-level, medium-level and weaker-level groups, and get more important results and implications. In the long-term, a 1% increase in real GDP per capita increases the consumption of energy by different rates for three groups respectively, and subsequently it increases at different rates in three groups of the carbon emissions in West of China. The economic growth in stronger-level group is energy-dependent to a great extent, and the income elasticity of energy consumption in stronger-level group is over several times than that of the weaker-level groups. At present, West of China are subject to tremendous pressures formitigating climate change issues. It is possible that the GDP per capita elasticity of carbon emissions would be controlled in a range that orients sustainable development by the great effort.

Download Full-text