scholarly journals Applying an Evolutionary Growth Theory for Sustainable Economic Development: The Effect of International Students as Tourists

2020 ◽  
Vol 12 (1) ◽  
pp. 418 ◽  
Author(s):  
Kemal Soyer ◽  
Hale Ozgit ◽  
Husam Rjoub
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
International Students ◽  
Secondary School ◽  
Growth Theory ◽  
School Enrolment ◽  
Sustainable Economic Development ◽  
Long Run ◽  
Secondary School Enrolment ◽  
Evolutionary Growth

In this globalized era of strict competition, all actors in countries must focus on their strengths for continuous growth, which would presumably lead to sustainable economic development. Amongst the three components of sustainable development, this paper focuses on the economic and social aspects. Many countries are becoming service-oriented for economic growth. Education is a form of human capital investment which significantly contributes to countries’ national income via students, particularly international cross-border students in higher education institutions. While endogenous growth models dismiss the importance of governments in the growth process, in this paper, the Keynesian and new growth theories are combined to form an evolutionary growth theory. This research aims to analyze the short and long-term relationships between macroeconomic variables, international students, and their impact on the gross domestic product (GDP) of a small island with the intention of policy implications for stakeholders to reach or maintain sustainable economic development. Using an evolutionary growth theory with 34 years of time-series data on quarterly base, the vector autocorrection (VAR) model helps reveal the short and long-run relationships as well as impacts on the economy for sustainable economic growth. The results confirmed a long-run relationship via cointegration. Moreover, they approved bidirectional causality between student numbers, general secondary school enrolment, and GDP. Findings suggest significant implications for all stakeholders, particularly for higher education institutions, the government, and local citizens due to the importance of micro and macro-economic variables’ effect on GDP. The results prove that educated human capital contributes to economic growth. Governments should continue their existing strategy regarding secondary school enrolment rates as it is found to be the most effective variable in the long-run. As education, knowledge, and information transfer rises, it contributes to sustainable development through promoting social stability. Limitation of the unavailability of the total yearly population, GDP was opted instead of GDP per capita.

scholarly journals The Impact of Human Capital on Economic Growth in Ethiopia: Evidence from Time Series Analysis

2020 ◽  
Vol 1 (1) ◽  
pp. 51-73
Author(s):  
Mekoro Arega
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Secondary School ◽  
Skilled Workers ◽  
School Enrolment ◽  
Long Run ◽  
Causality Tests ◽  
Secondary School Enrolment ◽  
Short Run ◽  
The Impact

The general objective of the study was to analyze the impact of human capital development on economic growth in Ethiopia over the period 1974/5 -2018/9. The econometric models of Johnesan cointegration, VECM and causality tests were applied to analysis short-run and long-run impact of Human capital on Economic growth. The result of the error correction model shows that the model is adjusting at a relatively stable rate of 74.3% towards the long-run equilibrium. Furthermore, the result shows that human capital proxied of (primary and secondary school enrolments) and active labour force have a positive statistical significant long run and short-run effect on economic growth in Ethiopia. Such findings are consistent with the endogenous growth theories which argue that an improvement in human capital (skilled workers) improves productivity. In addition, results reveal that education expenditure and life expectancy at birth have a positive and statistically significant long-run effect on economic growth. However, the expenditure on health, secondary school enrolment and official development assistance are statically significant and have an unexpected negative impact on long-run economic growth. Furthermore, the short-run causality tests results reveal that public expenditure on education, primary school enrolment, secondary school enrolment and RGDP have unidirectional causal effects. Hence policymakers and/or the government give prioritize to create institutional capacity that increase school enrolment and strengthening the infrastructure or investment of educational and health institutions that produce quality of manpower to increase productivity.

scholarly journals The role of diversity and tolerance in economic development

2021 ◽  
Author(s):  
Witold Kwasnicki
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Industrial Development ◽  
Evolutionary Process ◽  
Evolutionary Model ◽  
Industry Development ◽  
Radical Innovations ◽  
Long Run

AbstractThis paper presents an evolutionary model of industry development, and uses simulations to investigation the role of diversity and heterogeneity in firms’ behaviour, and hence industrial development. The simulations suggest that economic growth is increased with greater variety, in the sense of the evolutionary process approaching the equilibrium faster and also, in the long run, moving faster from one equilibrium to a new, more advanced, equilibrium. This occurs due to higher variety caused by a more tolerant environment, and due to the higher probability of emergence of radical innovations.

scholarly journals Tourism Industry and Economic Growth Nexus in Beijing, China

Economies ◽  
2019 ◽  
Vol 7 (1) ◽  
pp. 25 ◽  
Author(s):  
Yang Songling ◽  
Muhammad Ishtiaq ◽  
Bui Thi Thanh
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Strong Support ◽  
Growth Index ◽  
Strong Relationship ◽  
Tourism Industry ◽  
Var Model ◽  
Long Run ◽  
The Relationship ◽  
Beijing China

In the developing economy, tourism is the most visible and steadiest growing facade. Tourism is considered one of the rapidly increasing elements for economic development from the last two decades. Therefore, the proposed study used vector autoregression (VAR) model, error correction model (ECM), and the Granger causality to check the relationship between the tourism industry and economic growth based on the data of the Beijing municipal bureau of statistics from 1994 to 2015. Gross domestic product (GDP) is used as a replacement variable for the economic growth index, while internal tourism revenue is used as a tourism industry indicator. The study supports the tourism-led growth hypothesis proposed in the existing literature in a different survey of tourism and economic development. The results show that there is a strong relationship in the tourism industry and economic growth in the context of Beijing, and at the same time, tourism creates a more significant increase in long run local real economic accomplishments. The results of the VAR model confirm that in the long run, Beijing’s economic growth is affected by domestic tourism, while the ECM model shows unidirectional results in the short term. Similarly, there is a one-way causal relationship between the tourism industry and economic growth in Beijing, China. The empirical results are in strong support of the concept that tourism causes growth.

scholarly journals Empowering Women, Developing Society: Female Education in the Middle East and North Africa

1970 ◽  
pp. 4-11
Author(s):  
Faraneh Roudi-Fahimi ◽  
Valentine M. Moghadam
Keyword(s):  
Middle East ◽  
Secondary School ◽  
North Africa ◽  
Well Being ◽  
Access To Education ◽  
School Enrolment ◽  
Mena Countries ◽  
The Past ◽  
Secondary School Enrolment ◽  
And Gender

Education is a key part of strategies to improve individuals' well-being and societies' economic and social development. In the Middle East and North Africa (MENA) (countries and territories included in the Middle East and North Africa as defined here are listed in Table 1), access to education has improved dramatically over the past few decades, and there have been a number of encouraging trends in girls' and women's education (see Figure 1). Primary school enrolment is high or universal in most MENA countries, and gender gaps in secondary school enrolment have already disappeared in several countries. Women in MENA countries are also more likely to enrol in universities than they were in the past.

scholarly journals Economic Development

2019 ◽  
Author(s):  
Dhina Vadyza
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Income Distribution ◽  
Urban Areas ◽  
Gini Index ◽  
Production Factor ◽  
Real Economy ◽  
Long Run ◽  
Per Capita ◽  
Capita Output

Economic growth is a process of increasing per capita output that occurs continuously in the long run. Economic growth is one indicator of the success of development. Increasingly increasing economic growth usually increases people's welfare. While economic development is an effort to increase per capita income by processing potential economic forces into the real economy through investment, increasing knowledge, increasing skills, using technology, adding management skills and organizing.Economic growth is also related to the increase in "per capita output". The theory must include theories about GDP growth and theories about population growth. Then the third aspect is economic growth in a long-term perspective, that is, if for a long period of time the per capita output shows an increasing tendency.The distribution of income distribution in Indonesia is increasingly uneven. This can be seen from the increasing Indonesian Gini Index. As is known, the Gini index measures the income distribution of a country. The size of the Gini index Between 0 (zero) to 1 (one), the Gini index Equal to 0 (zero) indicates the index that the income distribution is perfectly equal, while the Gini index is 1 (one ) shows that the income distribution is totally uneven. Based on the data, the Indonesian Gini index continues to increase from year to year.The state of income distribution in Indonesia since 1970 can be said not to improve, this is caused by many factors, including the First production factor market (input market) which is the increase in labor supply which results in excess labor, low labor wages and limited employment opportunities in urban areas resulting in unemployment and urban slums.Second, land ownership. Land distribution is the main determinant of the extent of poverty and income distribution.

Does transportation infrastructure impact economic growth in India?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sreenu Nenavath
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Positive Impact ◽  
Transport Infrastructure ◽  
Causality Test ◽  
Content Type ◽  
Long Run ◽  
Short Run ◽  
The Government ◽  
Determinants Of Economic Growth

Purpose This paper aims to show a long run and causal association between economic growth and transport infrastructure. Design/methodology/approach In this study, the authors use ARDL models through the period 1990 – 2020 to investigate the relationship between transport infrastructure and economic growth in India. Findings The infrastructure has a positive impact on economic growth in India for the long run. Moreover, Granger causality test demonstrates a unidirectional relationship between transport infrastructure to economic development. Stimulatingly, the paper highlights the effect of air infrastructure statistically insignificant on economic growth in the long and short-run period. Originality/value The original outcome from the study delivers an inclusive depiction of determinants of economic growth from transport infrastructure in India, and these findings will help the policymakers to frame policies to improve the transport infrastructure. Hence, it is proposed that the government of Indian should focus more to upsurge the transport infrastructure for higher economic development.

Bivariate Causality between FDI Inflows and Economic Growth in India Since 1990

2010 ◽  
pp. 221-223 ◽  
Author(s):  
Behrooz Shahmoradi ◽  
Enayatallah Najibzadehr
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Strong Correlation ◽  
Direct Relationship ◽  
Causal Relation ◽  
Economic Activities ◽  
Fdi Inflows ◽  
Long Run ◽  
The World

Nowadays, most of the countries in the world mostly concentrate on the flow of FDI, because it has direct relationship with economic development. The present study attempts to make a contribution in this context, by analyzing the existence and nature of causalities, if any, between FDI and economic growth in India since 1990, where growth of economic activities and FDI has been one of the most pronounced. The results indicate that there is a strong correlation between FDI inflows and GDP in India. And also there is unidirectional causal relation between FDI and GDP. Finally as co-integration shows there is no long run relationship between FDI and economic growth in India.

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