scholarly journals Natural Disasters and Economic Growth: A Semiparametric Smooth Coefficient Model Approach

2020 ◽  
Vol 13 (12) ◽  
pp. 320
Author(s):  
Nikos Fatouros ◽  
Yiguo Sun
Keyword(s):  
Economic Growth ◽  
Natural Disasters ◽  
Data Model ◽  
Fixed Effects ◽  
Empirical Studies ◽  
Smooth Coefficient ◽  
Returns To Investment ◽  
Marginal Returns ◽  
The Impact ◽  
Model Approach

Despite the fact that growth theories suggest that natural disasters should have an impact on economic growth, parametric empirical studies have provided little to no evidence supporting that prediction. On the other hand, pure nonparametric regression analysis would be an extremely difficult task due to the curse of dimensionality. We therefore re-investigate the impact of natural disasters on economic growth, applying a semiparametric smooth coefficient panel data model that takes into account fixed effects. Our study finds evidence that the coefficient curve of investment is a U-shaped function of the severity of the natural disasters. Thus, for relatively small disasters, marginal returns to investment decrease on the severity of natural disasters. However, after a certain threshold, the coefficient of investment starts increasing as natural disasters become more severe.

Dampak Kebijakan Moneter Pada Output Di Negara-Negara ASEAN Tahun 1980-2014

2017 ◽  
Vol 4 (1) ◽  
pp. 58-70
Author(s):  
Nur Widiastuti
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Fixed Effects ◽  
Empirical Studies ◽  
Negative Relationship ◽  
Least Square ◽  
Fixed Effects Model ◽  
State Data ◽  
Ordinary Least Square ◽  
The Impact

The Impact of monetary Policy on Ouput is an ambiguous. The results of previous empirical studies indicate that the impact can be a positive or negative relationship. The purpose of this study is to investigate the impact of monetary policy on Output more detail. The variables to estimatate monetery poicy are used state and board interest rate andrate. This research is conducted by Ordinary Least Square or Instrumental Variabel, method for 5 countries ASEAN. The state data are estimated for the period of 1980 – 2014. Based on the results, it can be concluded that the impact of monetary policy on Output shown are varied.Keyword: Monetary Policy, Output, Panel Data, Fixed Effects Model

Empirical Literature on Economic Growth, 1991–2020: Uncovering Extant Gaps and Avenues for Future Research

2021 ◽  
pp. 097491012110616
Author(s):  
Natalia I. Doré ◽  
Aurora A. C. Teixeira
Keyword(s):  
Economic Growth ◽  
Latin American ◽  
Empirical Studies ◽  
Empirical Literature ◽  
Future Research ◽  
Long Run ◽  
Scientific Attention ◽  
The Impact ◽  
Determinants Of Economic Growth ◽  
Latin American And Caribbean

The factors required to achieve sustainable economic growth in a country are debated for decades, and empirical research in this regard continues to grow. Given the relevance of the topic and the absence of a comprehensive, systematic literature review, we used bibliometric techniques to examine and document several aspects in the empirical literature related to growth, from 1991 to 2020. Five main results are worth highlighting: (a) the share of empirical articles on economic growth show a clear upward trend; (b) among all the groups of countries considered, the emerging economies (EEs) have received the most scientific attention; (c) the economic growth processes of the Latin American and Caribbean EEs have observed negligible scientific attention; (d) the very long-run studies comprise a residual share among the empirical literature on growth; (e) the extant empirical studies on economic growth have addressed mainly the impact of “macroeconomic conditions.” Our findings suggest there is a need to redirect the empirical growth agenda, so as to encourage more scientific attention devoted to the analysis of key determinants of economic growth in the very long run. There should also be increased scrutiny of the processes of economic growth in Latin American and Caribbean EEs

Assessing the Impact of the Factors in the Digital Transformation on the Regional Economic Growth

REGIONOLOGY ◽  
2021 ◽  
Vol 29 (3) ◽  
pp. 486-510
Author(s):  
Tatyana V. Mirolyubova ◽  
Marina V. Radionova
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Fixed Effects ◽  
Digital Transformation ◽  
Regional Economic Growth ◽  
Regional Economic ◽  
The Russian Federation ◽  
Regional Product ◽  
The Impact ◽  
Regions Of Russia

Introduction. The scientific problem under consideration is of particular relevance due to the need to assess the impact of the factors in the digital transformation of the regional economy and in the economic growth on the economic development of the regions of the Russian Federation. Based on the research conducted, the article presents an econometric assessment of the dependence of the level of the gross regional product per capita in the regions of Russia on such factors as digital labor and digital capital. Materials and Methods. The authors analyzed panel data from the Federal State Statistics Service covering 87 regions of Russia for the period from 2010 to 2018. The research methodology is based on the use of the Cobb–Douglas production function, statistical and correlation data analysis, as well as on econometric methods for studying panel data. Results. To analyze the impact of the digital transformation of the economy on the regional economic growth of the regions of Russia, various models based on panel data have been considered, such as the pooled model, fixed effects models, random effects models, as well as time-varying effects models using dummy variables. Based on statistical criteria, the best model has been chosen and conclusions have been drawn about the nature of the impact of the digital transformation indicators on the gross regional product per capita in the regions of Russia. Discussion and Conclusion. The results of econometric modeling have demonstrated that digital factors in economic growth (digital labor, digital capital), along with common factors in economic growth (labor and capital), affect the regional economic growth. According to the regional data for the period from 2010 to 2018, the time fixed effects model has proved to be the best model of the impact of the factors in economic growth and digital transformation on the economic development of the regions of the Russian Federation. The research results can be used when developing a public policy aimed at stimulating the digital transformation of the regional economy.

scholarly journals Maternal Mortality in Ghana: Impact of the Fee-Free Delivery Policy and the National Health Insurance Scheme

2015 ◽  
Vol 4 (3) ◽  
pp. 232
Author(s):  
Seidu Sofo ◽  
Emmanuel Thompson
Keyword(s):  
Health Insurance ◽  
Panel Data ◽  
Maternal Mortality ◽  
National Health Insurance ◽  
National Health ◽  
Data Model ◽  
Fixed Effects ◽  
Panel Data Model ◽  
Skilled Delivery ◽  
The Impact

<p>Maternal mortality (MMR) is the second largest cause of female deaths in Ghana. Yet, many households cannot afford the cost of skilled delivery The study utilized the Panel Data Model to examine the impact of the fee-free delivery (FDP) and the National Health Insurance Policy (NIP) exemptions on MMR in Ghana. The Demographic and Health Survey reports on Ghana from 2002 to 2009 served as the main data source. Data were analyzed using Panel data model with within group fixed effects estimator. MMR declined significantly over the period studied. Both FDP and NIP positively impacted MMR at a 5% level of significance. In addition, skilled delivery was a significant predictor of MMR. Stakeholders would do well to ensure NIP is adequately funded in order to sustain the decline in MMR.</p><p> </p><p><strong><br /></strong></p>

Evaluating the impact of changes in human capital structure on Russia's economic growth dynamics

2021 ◽  
Vol 20 (2) ◽  
pp. 200-222
Author(s):  
Roman M. MEL'NIKOV ◽  
Valentina A. TESLENKO
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Growth Rates ◽  
Fixed Effects ◽  
Growth Dynamics ◽  
High Tech ◽  
Fixed Effects Model ◽  
Long Term Effects ◽  
Academic Degree ◽  
The Impact

Subject. The article explores the impact of changes in the educational structure of the employed population on the dynamics of economic growth. Objectives. The purpose is to evaluate the impact of changes in the share of employed persons, having secondary vocational and higher education, and researchers with academic degree on the growth rates of the Russian economy. Methods. The study employs the regression analysis of panel data of Russian regions, the specification with a quadratic dependence of economic growth rates on the share of employed persons, having the higher education and secondary vocational education. A fixed-effects model is used to analyze the short-term effects, the sustainability of results, and long-term effects, using the pool models and random effects models. Results. The increase in the share of researchers with academic degree has a positive and significant effect on economic growth, but only if adequate R&D funding is provided. The increase in the share of employed persons with higher education up to thirty percent is accompanied by an increase in the growth rate of real GRP in the long run, however, further expansion of higher education has no positive effect on economic growth. Conclusions. A powerful form of personnel training for Russian high-tech companies is a special model of ‘industrial postgraduate training’, which involves the collaboration of universities with industrial partners.

scholarly journals The Impact of Energy Consumption and Economic Growth on Carbon Dioxide Emissions

2020 ◽  
Vol 12 (19) ◽  
pp. 7965
Author(s):  
Oluyomi A. Osobajo ◽  
Afolabi Otitoju ◽  
Martha Ajibola Otitoju ◽  
Adekunle Oke
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Granger Causality ◽  
Co2 Emissions ◽  
Carbon Dioxide Emissions ◽  
Fixed Effects ◽  
Positive Impact ◽  
Clean Energy ◽  
Cointegration Tests ◽  
The Impact

This study explored the effect of energy consumption and economic growth on CO2 emissions. The relationship between energy consumption, economic growth and CO2 emissions was assessed using regression analysis (the pooled OLS regression and fixed effects methods), Granger causality and panel cointegration tests. Data from 70 countries between 1994–2013 were analysed. The result of the Granger causality tests revealed that the study variables (population, capital stock and economic growth) have a bi-directional causal relationship with CO2 emissions, while energy consumption has a uni-directional relationship. Likewise, the outcome of the cointegration tests established that a long-run relationship exists among the study variables (energy consumption and economic growth) with CO2 emissions. However, the pooled OLS and fixed methods both showed that energy consumption and economic growth have a significant positive impact on CO2 emissions. Hence, this study supports the need for a global transition to a low carbon economy primarily through climate finance, which refers to local, national, or transnational financing, that may be drawn from public, private and alternative sources of financing. This will help foster large-scale investments in clean energy, that are required to significantly reduce CO2 emissions.

scholarly journals The Impact of Educational Investment on Sustainable Economic Growth in Guangdong, China: A Cointegration and Causality Analysis

2019 ◽  
Vol 11 (3) ◽  
pp. 766 ◽  
Author(s):  
Liping Liao ◽  
Minzhe Du ◽  
Bing Wang ◽  
Yanni Yu
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Data Model ◽  
Educational Investment ◽  
Causality Analysis ◽  
Pearl River Delta Region ◽  
Financial Investment ◽  
The Pearl River ◽  
Sustainable Economic Growth ◽  
The Impact

Education, as an investment in human capital, is regarded as an important determinant of sustainable economic growth [1,2]. The purpose of this study is to explore the cointegration and causality between the investment in education and sustainable economic growth in Guangdong province by using the panel data of 21 cities from 2000 to 2016. We construct a variable intercept panel data model with an individual fixed effect based on the Cobb-Douglas production function, estimating the contribution of the investment in education to economic growth by introducing lags. The findings show the existence of the feedback causality between education and sustainable economic growth. Also, the results reveal that the local financial investment in education plays a positive and statistically significant role in promoting sustainable economic growth. However, the contribution of the local financial investment in education to economic growth varies in different areas. The investment in education in the Pearl River Delta region have the most obvious pull effects on its regional economy, whereas the Western region takes the second place. Meanwhile, the local financial investment in education for its role in promoting economic growth obviously has a two-year hysteresis effect. These findings have important implications for Guangdong’s solution to the imbalance between regional educational investment and sustainable economic growth.

scholarly journals The Impact of Wood Fuel Energy on Economic Growth in Sub-Saharan Africa: Dynamic Macro-Panel Approach

2020 ◽  
Vol 12 (8) ◽  
pp. 3280 ◽  
Author(s):  
Chindo Sulaiman ◽  
A.S. Abdul-Rahim
Keyword(s):  
Economic Growth ◽  
Fuel Consumption ◽  
Fixed Effects ◽  
Sub Saharan Africa ◽  
Wood Fuel ◽  
Policy Makers ◽  
Interaction Term ◽  
Sub Saharan ◽  
Solar Powered ◽  
The Impact

This study estimates the impact of wood fuel consumption on economic growth in 19 sub-Saharan African countries over the 1979-2017 period. The study employs dynamic macro-panel estimators, which comprises pooled mean group (PMG), mean group (MG), and dynamic fixed effects (DFE). The estimated result reveals that PMG is the most efficient estimator among the three estimators based on the Hausman h-test. The results from PMG model reveal that wood fuel consumption has significant negative impact on economic growth. Also, when an interaction term between labor and wood fuel consumption was included in the model and estimated, the coefficient of wood fuel consumption yields negative and significant coefficient. This suggests that the interaction term has a negative and significant effect on economic growth. These results unveil that wood fuel consumption negatively and significantly affect economic growth, both directly and indirectly. The policy recommendations from this study are as follows: (1) Governments of these countries should provide adequate and affordable modern fuels to the populace; especially rural dwellers to decrease the use of wood fuel for cooking and heating (2) policy makers should intensify awareness campaign on the risk and danger wood fuel poses to economic growth so as to discourage its use and (3) policy makers should provide adequate solar powered stoves and solar-powered room heaters as cheap substitutes to the use of wood fuel for cooking and heating. These recommendations will assist in negating the negative effects of wood fuel consumption on economic growth of the region.

scholarly journals Trade Balance Effects on Economic Growth: Evidence from European Union Countries

Economies ◽  
2020 ◽  
Vol 8 (3) ◽  
pp. 54
Author(s):  
Deimante Blavasciunaite ◽  
Lina Garsviene ◽  
Kristina Matuzeviciute
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Trade Balance ◽  
Fixed Effects ◽  
Negative Impact ◽  
Trade Deficit ◽  
Multivariate Regression Analysis ◽  
The European Union ◽  
Linear Effect ◽  
The Impact

A growing number of recent research analyse the trade balance impact on economic growth. However, ambiguous results of studies imply the need for the research as the deteriorating trade balance hinders economic growth. This research aims to investigate the impact of the trade balance on economic growth as well as to evaluate it during the periods of trade deficit. Our estimations are based on the European Union (EU) 28 countries panel data over the period of 1998–2018, using the OLS method of multivariate regression analysis with fixed effects and focusing on two strategies: (i) including all trade balance periods, and (ii) adding deficit dummy variable seeking to evaluate whether during deficit periods we can find different and significant effect on economic growth. Evaluating all trade balance periods, the obtained results indicate the negative and lagging impact of the trade balance on economic growth, and no significant differences of the impact were identified during the deficit periods. The deterioration of trade balance reduces average economic growth and from linear relationship evaluation, we can state that it does not matter whether it starts from trade deficit or surplus result. The results obtained may also obscure the possibility of a non-linear effect, which would suggest a stronger negative impact on economic growth when the trade balance deteriorates in the presence of a large trade deficit. When discussing directions for further research it would make sense to consider other factors, such as the size of the deficit and its permanence.

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