scholarly journals Impact of Economic Growth, Environmental Pollution, and Energy Consumption on Health Expenditure and R&D Expenditure of ASEAN Countries

Energies ◽  
2019 ◽  
Vol 12 (19) ◽  
pp. 3598 ◽  
Author(s):  
Haseeb ◽  
Kot ◽  
Hussain ◽  
Jermsittiparsert
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Environmental Pollution ◽  
Health Expenditure ◽  
Positive Impact ◽  
Theory And Practice ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
Asean Countries

The purpose of the current study was to examine the determinants of R&D expenditure and health expenditure of ASEAN countries. The research objectives were developed to analyze the short-term as well as the long-term impact of economic growth, environmental pollution, and energy consumption on health and R&D expenditures. The data was collected for ten years for ASEAN countries using the Auto-Regressive Distributed Lag (ARDL) approach, which helped the researcher to assess long-run as well as the short-run association of these variables. The findings revealed that environmental pollution, energy consumption, and economic growth had a significant positive impact on health expenditure as well as on R&D expenditure of ASEAN countries in long-run. The findings further revealed that environmental pollution and economic growth had a significant impact on R&D expenditure in short-run; however, there was no significant impact of energy consumption on R&D expenditure in short-run. It was also found that there was no significant impact of any of the independent variables, i.e., energy consumption, economic growth, and environmental pollution, on health expenditure in short-run. The current study and findings have significant implications in theory and practice.

Fish Exports and Economic Growth: The Pakistan’s Experience

2019 ◽  
Vol 20 (2) ◽  
pp. 279-296 ◽  
Author(s):  
Syed Tehseen Jawaid ◽  
Mohammad Haris Siddiqui ◽  
Zeeshan Atiq ◽  
Usman Azhar
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Positive Impact ◽  
Impulse Response Function ◽  
Policy Implications ◽  
Sensitivity Analyses ◽  
Series Data ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run

This study attempts to explore first time ever the relationship between fish exports and economic growth of Pakistan by employing annual time series data for the period 1974–2013. Autoregressive distributed lag and Johansen and Juselius cointegration results confirm the existence of a positive long-run relationship among the variables. Further, the error correction model reveals that no immediate or short-run relationship exists between fish exports and economic growth. Different sensitivity analyses indicate that initial results are robust. Rolling window analysis has been applied to identify the yearly behaviour of fish exports, and it remains negative from 1979 to 1982, 1984 to 1988, 1993 to 1999, 2004 and from 2010 to 2013, and it shows positive impact from 1989 to 1992, 2000 to 2003 and from 2005 to 2009. Furthermore, the variance decomposition method and impulse response function suggest the bidirectional causal relationship between fish exports and economic growth. The findings are beneficial for policymakers in the area of export planning. This study also provides some policy implications in the final section.

scholarly journals Effects of Agricultural, Manufacturing, and Mineral Exports on Angola’s Economic Growth

Energies ◽  
2020 ◽  
Vol 13 (6) ◽  
pp. 1494 ◽  
Author(s):  
Titus Isaiah Zayone ◽  
Shida Rastegari Henneberry ◽  
Riza Radmehr
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Dutch Disease ◽  
Ardl Model ◽  
Agricultural Exports ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
Using Data

This study investigates the effects of Angola’s agricultural, manufacturing, and mineral exports on the country’s economic growth using data from 1980 to 2017. An Autoregressive Distributed Lag (ARDL) model is employed to estimate the effect of sectoral exports on economic growth. The estimation results show that while exports from all three sectors (manufacturing, mineral, and non-mineral) have driven Angola’s economic growth in the long-run; only non-manufacturing (agricultural and mineral) exports have led its growth in the short-run. Moreover, growth in non-export GDP was driven by mineral exports in the long-run and agricultural exports in the short-run. Considering the statistically significant and positive impact of mineral exports on the Angolan GDP as well as on its non-export GDP, this study points to a lack of evidence supporting the Dutch disease phenomenon in Angola.

scholarly journals Exploring the Effect of Energy Consumption on the Economic Growth of Albania

2019 ◽  
Vol 30 (5) ◽  
pp. 530-543
Author(s):  
Ronald Ravinesh Kumar ◽  
Peter Josef Stauvermann ◽  
Nikeel Kumar
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Structural Breaks ◽  
Energy Resource ◽  
Correction Method ◽  
Energy Effect ◽  
Energy Growth ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run

Albania is one of the most energy-resource abundant country, however faced with high domestic electricity demand. Moreover, the country is the largest crude oil producer in Europe. In this study, we investigate the following questions: (i) Is there a long-run association between energy consumption and output in Albania? (ii) What is the magnitude of energy effect in the short- and long-run on output in Albania? (iii) Which of the four hypotheses on the energy-growth nexus describes most appropriately the energy-growth nexus in the case of Albania? (iv) How do the results compare with those of earlier studies? Thus, the study examines the effect of energy consumption on the economic growth of Albania over the periods 1980 to 2014 using a Cobb-Douglas production function whilst controlling for multiple structural breaks. The short-run and long-run estimations are carried out using the autoregressive distributed lag (ARDL) bounds procedure. Causality is examined using the vector error correction method. Also, we conduct consistency and robustness checks using other regression methods. The results from the ARDL procedure indicate that the elasticity of income with respect to energy is 0.36. This implies that ceteris paribus, a 1% increase in energy consumption will increase output by 0.36%. The causality result supports the conservation hypothesis which implies that economic growth drives energy consumption, which is consistent with some of the earlier studies.  

scholarly journals Role of Inflow of Resources on Economic Growth of Nepal

2019 ◽  
Vol 42 (3-4) ◽  
pp. 66-78
Author(s):  
Tilak Singh Mahara ◽  
Naw Raj Bhatt
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Positive Impact ◽  
Empirical Finding ◽  
Series Data ◽  
Data Sets ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run

This study attempts to examine the role of the inflow of resources on the economic growth of Nepal incorporating annual time-series data sets of 45 years from 1975 to 2019. The autoregressive distributed lag approach to cointegration is used to identify the long-run as well as the short-run relationship between the variables. The empirical finding indicates that there is a positive relationship between the inflow of resources and economic growth. Quantitatively, gross national saving, domestic loans, foreign loans, and export earnings have a positive impact on the economic growth in both the long-run as well as short-run for the Nepalese economy. Policies encouraging private sector participation, enlarging efficiency, and effectiveness of public sector projects, and expanding export base must be implemented.

scholarly journals Does Monetary Policy Affect Economic Growth in Jordan? Evidence from Ordinary Least Square Models

2018 ◽  
Vol 12 (1) ◽  
pp. 27
Author(s):  
Mohamed Ibrahim Mugableh
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Positive Impact ◽  
Least Square ◽  
Vector Error Correction ◽  
Ordinary Least Square ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run

The main objective of this paper is to analyze equilibrium and dynamic causality relationships between monetary policy tools and economic growth in Jordan for the period (1990-2017). For this purpose, it considers the autoregressive distributed lag (ARDL) and vector error correction (VEC) models estimations. The results of ARDL approach show that monetary policy variables (i.e., real interest rate and money supply) have positive impact on economic growth in long-run and short-run except inflation rate. In addition, the results of VECM indicate bidirectional causal relationships between economic growth and monetary policy variables in long-run and short-run.

scholarly journals Financial Development, Financial Openness and Economic Growth in Nigeria

2021 ◽  
Vol 11 (3) ◽  
Author(s):  
Christian E. Bassey ◽  
Okoiarikpo Benjamin Okoi ◽  
Ikpe Kingsley Imoh
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Financial Distress ◽  
Positive Impact ◽  
Financial Openness ◽  
Insurance Sector ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
The Impact

This study examined the impact of financial development and financial openness on economic growth in Nigeria between 1981 and 2019. This was done through the use of the Auto-Regressive Distributed Lag (ARDL) model. In doing this, the ratio of credit to the private sector to the GDP and broad money to narrow money were used as measures of financial development and financial openness respectively. The study found that financial development has a positive and insignificant impact on economic growth in Nigeria in the long and short-run. The study also found that financial openness has a negative and insignificant impact on economic growth in Nigeria in the long-run. The results of the study further revealed that simultaneous existence of financial development and financial openness has an insignificant but positive impact on economic growth in Nigeria in the long-run. Based on the findings, the study recommended that the CBN should increase its efforts towards the regulation and supervision of the financial sector to reduce the incidence of financial distress. The study also recommended that efforts to develop the mortgage and insurance sector and the capital market should be intensified through regulatory improvements, improvements in the instruments in use in the market as well as public enlightenment programs to increase awareness of the potentials of the mortgage, insurance and capital markets. The final recommendation made by the study is that more restrictions should be placed on the inflow of capital in and out of the country to guard against sudden capital flow reversals.

The Economic Growth–Income Inequality–Poverty Nexus and Its Impact on Environmental Degradation: Empirical Evidence from India

2021 ◽  
pp. 097639962110238
Author(s):  
Geetilaxmi Mohapatra ◽  
Arun Kumar Giri
Keyword(s):  
Economic Growth ◽  
Income Inequality ◽  
Environmental Degradation ◽  
Poverty Reduction ◽  
Positive Impact ◽  
Universal Access ◽  
Causality Test ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run

This study attempts to examine the main forces affecting short-run and long-run carbon emission patterns due to changes in economic growth, income inequality and poverty in India over the period 1982–2018. For this purpose, it uses the autoregressive distributed lag (ARDL) cointegration technique and the vector error correction model (VECM) based on Granger causality tests. The stationary properties of the variables are checked using the Ng–Perron test. The results of the ARDL bounds test confirm the long-run relationship among the variables. Further, the ARDL coefficient confirms that economic growth and poverty increase carbon emissions in both the short and long run. The empirical findings of the causality test indicate the presence of short-run causality running from economic growth and poverty reduction to environmental degradation. Hence, the study recommends that policymakers must devote more attention to alleviating poverty and reducing income inequalities through redistributing transfers, investing on universal access to health and education, implementing progressive taxation policies, empowering women and enforcing the Clean India mission, which will have a positive impact on reducing environmental degradation in India. Further, the study also recommends appropriate environmental regulations that can substantially stimulate innovations to increase energy efficiency and thereby reduce carbon dioxide (CO2) emissions.

Relationship Between Military Expenditure, Economic Growth, and Social Expenditure in India, China, and Bangladesh

2018 ◽  
pp. 285-306
Author(s):  
Rajib Bhattacharyya
Keyword(s):  
Economic Growth ◽  
Health Expenditure ◽  
Military Expenditure ◽  
Social Expenditure ◽  
Educational Expenditure ◽  
Distributed Lag ◽  
Defense Expenditure ◽  
Long Run ◽  
Short Run ◽  
Growth Changes

One of the most debated phenomena of recent times in the global scenario is whether there really exists a true opportunity cost of a sequential increase in global military expenditure across the world. The existing literature on the relationship between military expenditure and economic growth confirms that three kinds of linkages may be plausible: positive, negative, and no significant linkages. The chapter focuses on contradictions and conflicts between military expenditure and social expenditure such as health and education. The chapter also attempts to examine both the long-run and short-run relationship between defense expenditure (DE), health expenditure (HE), educational expenditure (EE), and economic growth (changes in GDP). Here the autoregressive distributed lag approach (ARDL) and error correction model (ECM) technique have been applied to examine the long- and short-run causality among the variables. The study observes that there exists no significant long-term relationship between economic growth, defense expenditure, health expenditure, and educational expenditure in India and China, but Bangladesh does have one.

scholarly journals Asymmetric impact of renewable and non-renewable energy on economic growth in Pakistan: New evidence from a nonlinear analysis

2020 ◽  
Vol 38 (5) ◽  
pp. 1946-1967
Author(s):  
Kashif Abbasi ◽  
Zhilun Jiao ◽  
Muhammad Shahbaz ◽  
Arman Khan
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Positive Impact ◽  
Renewable Energy Sources ◽  
Government Officials ◽  
Renewable Energy Consumption ◽  
Distributed Lag ◽  
Long Run ◽  
Asymmetric Impact

This paper explores the asymmetric relationship between renewable energy consumption, non-renewable energy, and terrorism on economic growth of Pakistan. We applied a novel econometric cointegration method known as a nonlinear autoregressive distributed lag modeling (NARDL). Our empirical findings indicate that positive and negative changes have a significant long-run asymmetric relationship between renewable energy, and terrorism on economic growth. We also found a negative and significant effect of non-renewable energy consumption on economic growth. To keep our environment clean and free of emissions, the study specifies policies that rely on renewable energy sources to boost economic growth. However, reduces terrorism has a positive impact on economic growth in the long-run and shows as an influential tool to combat terrorism in Pakistan. These novel results will help policy-makers and government officials to understand better the role of renewable energy and economic growth in Pakistan's development.

Financial development and economic growth: empirical evidence from India

2015 ◽  
Vol 32 (3) ◽  
pp. 340-356 ◽  
Author(s):  
Madhu Sehrawat ◽  
A K Giri
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Positive Impact ◽  
Annual Data ◽  
Content Type ◽  
Distributed Lag ◽  
Long Run ◽  
Integration Test ◽  
Short Run ◽  
Sustainable Economic Growth

Purpose – The purpose of this paper is to examine the relationship between financial development and economic growth in India using annual data from 1982 to 2012. Design/methodology/approach – The stationarity properties are checked by ADF, DF-GLS, KPSS and Ng–Perron unit root tests. The long- and short-run dynamics are examined by using the autoregressive distributed lag (ARDL) approach to co-integration. Findings – The co-integration test confirms a long-run relationship in financial development and economic growth for India. The analysis of ARDL test results reveals that both bank-based and market-based indicators of financial development have a positive impact on economic growth in India. Hence, the results support the supply-leading hypothesis and highlight the importance of financial development in economic growth. The findings also indicate that the Indian bank-centric financial sector has the potential for economic growth through credit transmission. Research limitations/implications – The present study recommends appropriate reforms in financial markets to attain sustainable economic growth. The findings are useful for policy-makers who want to maintain a parallel expansion of financial development and growth. Originality/value – To date, there are hardly any studies that use both market-based and bank-based indicators as proxies of financial development and analyze their role in economic growth in India. So, the contribution of the paper is to fill this gap in literature.

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