scholarly journals Seaports and Economic Growth: Panel Data Analysis of EU Port Regions

2020 ◽  
Vol 8 (12) ◽  
pp. 1017
Author(s):  
Gorana Mudronja ◽  
Alen Jugović ◽  
Dunja Škalamera-Alilović
Keyword(s):  
Economic Growth ◽  
New Technologies ◽  
Panel Data Analysis ◽  
Generalized Method Of Moments ◽  
Transport Infrastructure ◽  
Regional Economies ◽  
Successful Operation ◽  
Positive Effects ◽  
Business Entities ◽  
The Impact

Seaports are an important factor in regional economies since their operations create positive effects on the economy. The application of new technologies and innovations is important for the successful operation of seaports; their use reduces costs, facilitates business, increases transparency, and attracts new business entities. This paper analyses the impact of seaports on the growth of regional economies within the endogenous growth theory based on research and development (R&D) for a sample of 107 European Union’s (EU) port regions observed over the period from 2005 to 2015. The model was tested by using the two-step generalized method of moments. The results of the research indicate that seaports have a significant impact on the economic growth of the EU port regions, yet it is necessary to consider other factors that affect the growth of regional economies such as investments in R&D and human capital. These factors are often underestimated in relation to investment in transport infrastructure; therefore, the guidelines for partial diversion of funds might follow such a path.

scholarly journals The Importance of Maritime Transport for Economic Growth in the European Union: A Panel Data Analysis

2021 ◽  
Vol 13 (14) ◽  
pp. 7961
Author(s):  
Alexandra Fratila (Adam) ◽  
Ioana Andrada Gavril (Moldovan) ◽  
Sorin Cristian Nita ◽  
Andrei Hrebenciuc
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Maritime Transport ◽  
The European Union ◽  
Panel Data Regression ◽  
Green Investment ◽  
Port Infrastructure ◽  
The Impact

Maritime transport is one of the main activities of the blue economy, which plays an important role in the EU. In this paper, we aim to assess the impact of maritime transport, related investment, and air pollution on economic growth within 20 countries of the European Union, using eight panel data regression models from 2007 to 2018. Our results confirm that maritime transport, air pollutants (NOx and SO2) from maritime transport, and investment in maritime port infrastructure are indeed positively correlated with economic growth. In other words, an increase of 10% in these factors has generated an associated increase in economic growth rate of around 1.6%, 0.4%, 0.8%, and 0.7% respectively. Alongside the intensity of economic maritime activities, pollution is positively correlated with economic growth, and thus it is recommended that policymakers and other involved stakeholders act to diminish environmental impacts in this sector using green investment in port infrastructure and ecological ships, in accordance with the current European trends and concerns.

scholarly journals Renewable Energy Development as a Driver of Economic Growth: Evidence from Multivariate Panel Data Analysis

2019 ◽  
Vol 11 (8) ◽  
pp. 2418 ◽  
Author(s):  
Nadia Singh ◽  
Richard Nyuur ◽  
Ben Richmond
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Renewable Energy ◽  
Energy Production ◽  
Developing Economies ◽  
Panel Data Analysis ◽  
Least Square ◽  
Renewable Energy Production ◽  
The Future ◽  
The Impact

Renewable energy is being increasingly touted as the “fuel of the future,” which will help to reconcile the prerogatives of high economic growth and an economically friendly development trajectory. This paper seeks to examine relationships between renewable energy production and economic growth and the differential impact on both developed and developing economies. We employed the Fully Modified Ordinary Least Square (FMOLS) regression model to a sample of 20 developed and developing countries for the period 1995–2016. Our key empirical findings reveal that renewable energy production is associated with a positive and statistically significant impact on economic growth in both developed and developing countries for the period 1995–2016. Our results also show that the impact of renewable energy production on economic growth is higher in developing economies, as compared to developed economies. In developed countries, an increase in renewable energy production leads to a 0.07 per cent rise in output, compared to only 0.05 per cent rise in output for developing countries. These findings have important implications for policymakers and reveal that renewable energy production can offer an environmentally sustainable means of economic growth in the future.

scholarly journals ASSESSMENT OF THE ECONOMIC IMPACT OF THE REGION'S TOURISM INDUSTRY: MULTIPLICATIVE EFFECT

2021 ◽  
Vol 71 (3) ◽  
Author(s):  
Oksana Pidvalna ◽  
Svitlana Bohuslavska
Keyword(s):  
Information Technologies ◽  
Economic Effect ◽  
Tourism Industry ◽  
Retail Trade ◽  
Transport Infrastructure ◽  
Tourism Product ◽  
Main Indicator ◽  
Multiplier Effect ◽  
Business Entities ◽  
The Impact

The tourism industry is expanding its influence on the region’s economy by increasing the accessibility and accessibility of tourist facilities (development of transport infrastructure, communication and information technologies, formation of extensive networks of the hospitality industry, wholesale and retail trade, etc.). A characteristic feature of the regional tourism industry is the multiplicative economic effect, which is manifested through the positive dynamics of economic indicators of business entities involved in the business process of creating and implementing a comprehensive tourism product. The paper proves that the sphere of tourism is formed and developed in the relevant area under the influence of various factors that are reproduced in this area. However, the sphere of tourism itself is considered as a factor that influences and changes the socio-economic development of the region. The main indicator of the multiplier effect is the cost of tourists, so the policy of the region should be aimed at maximally stimulating such costs. This is the first task of maximizing the multiplier effect. The second task is to reduce the level of savings. Recognizing the fact that the impact of the multiplier effect of tourism, compared to the impact of other activities, is the most significant because it is a catalyst for the development of many industries, considering existing models for calculating the generalized multiplier (and on their basis), the author proposes to create a method of accounting for the indirect impact of tourism on a number of components of the economy and social sphere (differentiated model of the multiplier) of the region and the country as a whole. The assessment of individual components of the tourism multiplier should be based on a clear methodological basis and the availability of appropriate software. Thus in each component of the tourist multiplier the contribution to the corresponding sector of economy and social policy of the state should be considered. Thus, the use of a tourism multiplier to assess the impact of social processes on the tourism industry makes it possible to determine the equilibrium relationship between consumption and income, ie the process of income generation in different sectors of the economy, at the expense of tourists and tourists.

scholarly journals Impact of Transport Infrastructure on Gross Regional Products: Evidence from Chinese Provinces under the “Belt and Road Initiative”

2020 ◽  
Vol 2 (2) ◽  
pp. 23-45
Author(s):  
Jin-Hui Li ◽  
Chol-Ju An ◽  
Gwang-Nam Rim
Keyword(s):  
Economic Growth ◽  
Economic Benefits ◽  
Transport Infrastructure ◽  
Belt And Road Initiative ◽  
Regression Analyses ◽  
Belt And Road ◽  
Development Levels ◽  
The Impact ◽  
The Belt And Road

Purpose: This paper analyzes the impact of transport infrastructure on Gross Regional Products in Chinese provinces under the “Belt and Road Initiative”. Methods: The impact of the key elements of transport infrastructure on Gross Regional Products is analyzed based on the data related to development levels of transport infrastructure and economic development. Correlation and regression analyses were used for data analysis. Results: It is found that railways and highways, which are the key elements of transport infrastructure, have a strong correlation with Gross Regional Products, and their effects are diverse among provinces under study. Implications: The findings demonstrate the position and role of diverse infrastructural elements in enhancing the economic benefits of infrastructural investment and promoting economic growth. Thus, it is expected to facilitate decision-making related to infrastructural investment under the “Belt and Road Initiative”.

scholarly journals Determinants of Basmati Exports from Pakistan: A Panel Data Analysis

2021 ◽  
Vol 3 (1) ◽  
pp. 12-18
Author(s):  
Muhammad Munwar Hayat ◽  
Raheela Khatoon
Keyword(s):  
Panel Data ◽  
Method Of Moments ◽  
Negative Impact ◽  
Positive Impact ◽  
Panel Data Analysis ◽  
Generalized Method Of Moments ◽  
Trading Partner ◽  
Dummy Variable ◽  
Export Competitiveness ◽  
The Impact

This paper aims to estimate the impact of different factors of basmati exports from Pakistan to its trading partner. Results are obtained by using the Generalized Method of Moments (GMM) model and panel data methodology with a sample of 22 countries for the period of 2003-2019. To estimate the impact of different variables on basmati exports Generalized Method of Moments (GMM) model is used on the panel dataset. The results revealed that the inflation rate of Pakistan has a negative and significant effect on the export competitiveness of Pakistani basmati. The exchange rate of Pakistan has a positive and significant impact on the basmati export, the population of Pakistan has a negative and significant impact on basmati export. Basmati production in Pakistan also has a significant and negative impact on basmati export. The Gross Domestic Product (GDP) of Pakistan has a significant and positive impact on the basmati export while the GDP of the trading partner has a significant and negative impact on the basmati export. The dummy variable for joint border also has a positive and significant impact on basmati exports of Pakistan.

scholarly journals IMPACT OF REGIONAL FACTORS ON SOCIO-ECONOMIC DEVELOPMENT OF UNDERDEVELOPED REGIONS OF SIBERIA

2019 ◽  
pp. 59-64
Author(s):  
S. P. Mongush
Keyword(s):  
Economic Development ◽  
Transport Infrastructure ◽  
Competitive Advantages ◽  
Regional Economies ◽  
Highly Qualified ◽  
Qualified Personnel ◽  
Socio Economic Development ◽  
Investment Capital ◽  
Business Entities ◽  
Negative Factors

Due to various factors, the regions of Russia have significant differences in the level of socio-economic development. Thus, each region of Russia has certain specific qualities inherent only to it, which must be taken into account when implementing regional policy. By reducing the influence of negative factors and, conversely, activating positive ones, it is possible to significantly increase the competitiveness of regional economies and the country as a whole. One of the features of the economies of the underdeveloped regions of Siberia is a significant share in their structure of low-productivity and low-tech industries, a lack of investment capital, low innovative activity of business entities, poor development of the territory, insufficient transport infrastructure, a shortage of highly qualified personnel and a number of others. The strategic priority of the state's economic policy in recent years in relation to underdeveloped regions is to achieve an acceptable average Russian level. In this regard, it becomes relevant to search for natural competitive advantages that can provide, through the correct and justified selection of "growth points" based on the use of the internal potential of such territories of their more dynamic development in relation to the most successful regions.

Corporate cash flow and dividends smoothing: a panel data analysis at Bursa Malaysia

2015 ◽  
Vol 13 (1) ◽  
pp. 2-19 ◽  
Author(s):  
Apedzan Emmanuel Kighir ◽  
Normah Haji Omar ◽  
Norhayati Mohamed
Keyword(s):  
Panel Data ◽  
Cash Flow ◽  
Panel Data Analysis ◽  
Generalized Method Of Moments ◽  
Cash Flows ◽  
Payout Policy ◽  
Free Cash Flow ◽  
Content Type ◽  
Financial Firms ◽  
The Impact

Purpose – The purpose of this paper is to contribute to the debate and find out the impact of cash flow on changes in dividend payout decisions among non-financial firms quoted at Bursa Malaysia as compared to earnings. There has been renewed debate in recent finance and accounting literature concerning the key determinants of changes in dividends payout policy decisions in some jurisdictions. The conclusion in some is that firms base their dividend decisions on cash flows rather than published earnings. Design/methodology/approach – The research made use of panel data from 1999 to 2012 at Bursa Malaysia, using generalized method of moments as the main method of analysis. Findings – The research finds that Malaysia non-financial firms consider current earnings more important than current cash flow while making dividends payout decisions, and prior year cash flows are considered more important in dividends decisions than prior year earnings. We also found support for Jensen (1986) in Malaysia on agency theory, that managers of firms pay dividends from free cash flow to reduce agency conflicts. Practical implications – The research concludes that Malaysian non-financial firms use current earnings and less of current cash flow in making changes in dividends policy. The policy implication is that current earnings are dividends smoothing agents, and the more they are considered in dividends payout decisions, the less of dividends smoothing. Social implications – If dividends smoothing is encouraged, it could lead to dividends-based earnings management. Originality/value – The research is our novel contribution of assisting investors and government in making informed decisions regarding dividends policy in Malaysia.

Breakthrough Technologies: New Directions in Economic and Social Development

2021 ◽  
Vol 26 (11) ◽  
pp. 1227-1235
Author(s):  
V. D. Ardzinov ◽  
N. V. Chepachenko ◽  
A. A. Leont’ev
Keyword(s):  
Economic Growth ◽  
National Economy ◽  
Growth And Development ◽  
Industrial Revolution ◽  
New Technologies ◽  
Technological Development ◽  
Managerial Decision ◽  
Russian Economy ◽  
The Impact

The presented study examines the comparative characteristics of industrial revolution targets, national goals, and strategic objectives for the development of the Russian economy; proposes methods for measuring and evaluating technological development; describes its impact on economic growth and shows the performance of enterprises.Aim. The study aims to determine the specific features of formation of economic and social development targets and the potential of new technologies, including breakthrough technologies, for shaping the technological development of the Russian economy; to propose methods for measuring and evaluating technological development and its impact on the growth and development of the national economy that would improve the quality of economic and managerial decision-making.Tasks. The authors clarify the interpretation of the concept of breakthrough technologies; identify distinctive features in the formation of industrial revolution targets and priority targets for the development of the Russian economy; substantiate methodological approaches to identifying parameters and indicators, methods for measuring and evaluating the level of technological development, its impact on the results of changes in economic growth and development of the national economy and its economic entities.Methods. The authors use the methods of scientific research, theoretical and comparative analysis, synthesis, generalization, general theory of economic growth, and elements of the economic efficiency theory.Results. The interpretation of breakthrough technologies as dominant new technologies that can ensure accelerated progressive development of the economy and minimize damage to the natural environment is clarified. The distinctive features of formation of industrial revolution targets and their relationship with the targets for the development of the Russian economy are identified. Evaluative features are substantiated; indicators for measuring and evaluating the transformation of the technological development of enterprises engaged in different activities and indicators for measuring and evaluating the impact of new technologies, including breakthrough technologies, on economic growth and development are proposed. The influence of the recommended measurement and evaluation methods on improving the quality of management decisions is shown.Conclusions. The study substantiates the need to improve methods for assessing the actual achieved (projected, planned) level of technological development as a necessary prerequisite for its qualitative analysis, evaluation, control, and monitoring required to make sound economic and managerial decisions. The proposed methods for measuring and evaluating technological development, measuring and evaluating the impact of new technologies, including breakthrough technologies, on the quality of economic growth, efficiency and competitiveness of the national economy (region, industry, activity, enterprises) improve the quality of managerial decision-making in achieving national goals for the development of the national economy.

scholarly journals Economic Growth by Means of Fiscal Decentralization: An Empirical Study for Federal Developing Countries

SAGE Open ◽  
2020 ◽  
Vol 10 (4) ◽  
pp. 215824402096808
Author(s):  
Imran Hanif ◽  
Sally Wallace ◽  
Pilar Gago-de-Santos
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Fiscal Federalism ◽  
Fiscal Decentralization ◽  
Positive Impact ◽  
Generalized Method Of Moments ◽  
Estimation Method ◽  
Tax Revenue ◽  
Weak Institutions ◽  
The Impact

The impact of fiscal federalism on economic performance has largely been studied in the developed world since the seminal work of Oates. In this article, we focus on a particular set of developing countries considered to be federal (Forum of Federations), to examine how fiscal decentralization has impacted their economic growth. In this context, we study the impact of tax revenue and expenditure decentralization on economic growth in developing federations. For this purpose, a panel data of 15 developing federations from 2000 to 2015 are analyzed by using a two-step system Generalized Method of Moments (GMM) estimation method. The results show that in federal developing countries, both tax revenue and expenditure decentralization have a significant, positive impact on economic growth. What is more, our findings show that the impact of fiscal decentralization on economic growth depends upon the level of perceived corruption and on the quality of the country’s institutions. Thus, empirical evidence depicts that the positive effect of fiscal decentralization on economic growth is tempered if the country is plagued with corruption, if it has weak institutions, and/or if it suffers from political instability. By contrast, a relatively corruption-free country featuring healthy institutions and a stable political environment could take fuller advantage of the effects of fiscal decentralization to improve economic growth.

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