scholarly journals Knowledge-Based Economy Capacity Building for Developing Countries: A Panel Analysis in Southern African Development Community

2021 ◽  
Vol 13 (5) ◽  
pp. 2890
Author(s):  
Koketso Phale ◽  
Fanglin Li ◽  
Isaac Adjei Mensah ◽  
Akoto Yaw Omari-Sasu ◽  
Mohammed Musah
Keyword(s):  
Economic Growth ◽  
Dynamic Models ◽  
Positive Impact ◽  
Panel Data Analysis ◽  
Southern African Development Community ◽  
African Development ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Long Run ◽  
Average Impact

The Southern African Development Community is lagging behind in terms of knowledge economy relative to other regions worldwide. This dramatically reduces the chances of keeping up with their economically established counterparts in terms of sustainable development. This paper therefore, applies multivariate panel data analysis which is predicted on the Cobb–Douglas production function to analyze the affiliation flanked by knowledge-based economy pillars and economic growth from 1998–2018. The World Bank knowledge-based economy framework is employed. To achieve the study goal, the long-run effect regarding proxies of each pillar in the knowledge-based economy on economic growth is first estimated. Afterwards, the average impact of each pillar is examined using the average impact index (AII). Employment of both conventional unit root and co-integration tests showed all observed series are stationary and co-integrated. Further estimation of the long-run relationship using both static and dynamic models (fixed effect and generalized method of moment) portrayed that government effectiveness, adjusted savings on education expenditure, tertiary enrollment, scientific and technical journals, and mobile cellular subscriptions have significant positive impact on economic growth. Finally, the AII estimation unveiled that the innovation pillar is the most impactful aspect on economic growth followed by education and skills with the least being information and communication technology infrastructure. Feasible policy recommendations are further suggested.

scholarly journals Human capital and economic growth in Nigeria

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Sunday Anderu Keji
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Health Sector ◽  
Vector Autoregressive ◽  
Knowledge Based ◽  
Education And Health ◽  
Normality Test ◽  
Knowledge Based Economy ◽  
Long Run ◽  
Lm Tests

AbstractThe study empirically examines the nexus between human capital and economic growth in Nigeria between 1981 and 2017. This is predated by poor policy impact across the key sectors of the economy, such as education and health that would have transformed productivity to economic in Nigeria. In order to address this ugly happening, the study therefore employed vector autoregressive and Johansen techniques. The results disclosed that the estimated coefficients of human capital have long-run significant impact on economic growth in Nigeria. Also, the diagnostic tests were used to check the validity of the techniques adopted in the study. Interestingly, results from normality test, VEC residual serial correlation LM tests and VEC residual heteroskedasticity tests confirm the justification and validity of the estimated results obtained in this research. Drawing way forward, this study therefore recommends the need to sustain economic in Nigeria through increase budgetary allocation to education and health sector to boost human capital skills needed to drive knowledge-based economy. Also, government should establish special agencies with the responsibility of improving the skills and capabilities of human capital across all educational levels of the federation so as to sustain growth in the long run.

scholarly journals DO ECONOMIC GROWTH AND ENVIRONMENT QUALITY CONTRIBUTE TO TOURISM DEVELOPMENT IN EU COUNTRIES? A PANEL DATA ANALYSIS

2021 ◽  
Vol 27 (6) ◽  
pp. 1509-1538
Author(s):  
Daniel Badulescu ◽  
Ramona Simut ◽  
Ioana Mester ◽  
Simona Dzitac ◽  
Mariana Sehleanu ◽  
...  
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Panel Data ◽  
Co2 Emissions ◽  
Positive Impact ◽  
Panel Data Analysis ◽  
Tourism Development ◽  
Tourism Industry ◽  
Long Run ◽  
Tourism Sector

The positive impact of the tourism industry on economic growth, revenues, infrastructure, employment, social inclusion and poverty reduction, although widely recognised, has been lately weighted against the appearance and exacerbation of several problems, such as: environmental footprint, increase of income inequality, cost increases related to solid waste collection, energy consumption, increased global CO2 emissions. On the other hand, the tourism sector is not just an active economic, societal, or environmental change agent; in turn, the tourism sector supports or is highly influenced by various factors, such as climate change, economic, political, or social factors. More recently, this industry has been highly impacted by the pandemic, technological developments and cultural trends. In this article we examined both the short and long-run relationship between tourism development and economic growth, CO2 emissions and energy consumption in European Union member states (EU27), by using the Principal Component Analysis (PCA) technique and autoregressive distributed lag (ARDL) model for panel data. The findings suggest that economic growth and energy consumption have a statistically significant impact on the tourism index both in the short and long-run, whereas CO2 emissions only have a significant impact upon the tourism index on the long run.

scholarly journals KNOWLEDGE-INTENSIVE BUSINESS SERVICES AS IMPORTANT SERVICES FOR INNOVATION AND ECONOMIC GROWTH IN SLOVAKIA

2016 ◽  
Vol 4 ◽  
pp. 042-047 ◽  
Author(s):  
Tatiana Čorejová ◽  
Mario Al Kassiri
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Transfer Of Knowledge ◽  
Highly Qualified ◽  
Business Services ◽  
Knowledge Intensive Business Services ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Knowledge Intensive ◽  
The Impact

This paper illustrates the importance of Knowledge-intensive business services (KIBS) as a source of innovation and economic growth. In the article, we explain the impact of KIBS on innovation, the importance of KIBS as a support in economic growth, its positive impact on employment and important role in the knowledge-based economy of Slovakia. This paper shows KIBS as important for innovation processes provided by institutions, such as universities, where the most important part involves research and development. Low support in services such as KIBS may cause decreases in availability of highly qualified employees and output of knowledge for innovation. Productivity and economic growth are largely dependent on fast growing technological progress and transfer of knowledge. Innovation can lead to a reduction in manual workers on one hand, while on the other  qualified employees will be needed for processes in the new applied technology. In order to fully understand the rapid growth of innovation and KIBS, we analyzed the correlation and number of scientists of its population in the EU countries.

scholarly journals The Impact of Infrastructure Spending on Economic Growth: A Case Study of Indonesia

2021 ◽  
Vol 23 (3) ◽  
pp. A184-A192
Author(s):  
Makmun Syadullah ◽  
Dhani Setyawan
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Panel Data Analysis ◽  
Data Availability ◽  
Infrastructure Investment ◽  
Infrastructure Development ◽  
Government Investment ◽  
Long Run ◽  
The Impact ◽  
Irrigation Infrastructure

This paper aims to analyze the impact of infrastructure spending on economic growth in Indonesia, which includes investment in road, port and irrigation infrastructure. The period of observation was 2011-2018, which covered 29 provinces with consideration of data availability. This study employed the growth model with a panel data analysis, which analyze the relationship between the economic growth and government investment in infrastructure in the long run. The most essential finding in this study is that the economic growth is positively influenced by government investment in road, port and irrigation infrastructure. Road infrastructure investment has a significant positive impact and the effect occurs in the fourth year after infrastructure development. In comparison, port and irrigation infrastructure investment have a positive but not significant impact to other variables.

scholarly journals Effects of external financial flows on income inequality in selected Southern African Development Community member states

2021 ◽  
Vol 9 (1) ◽  
Author(s):  
Thamaga E. Letsoalo ◽  
Thobeka Ncanywa
Keyword(s):  
Economic Growth ◽  
Income Inequality ◽  
Foreign Aid ◽  
Economic Performance ◽  
Bank Lending ◽  
Southern African Development Community ◽  
Financial Flows ◽  
African Development ◽  
Cross Border ◽  
Long Run

Background: The developmental goals of various emerging markets are quantitative targets set to reduce income inequality, alleviate poverty, reduce unemployment and achieve continuous inclusive economic growth amongst other key economic performance indicators. The interest is mainly on what can be done on economic performance to fight escalating inequality, increase economic growth and maintain low inflation amongst other economic indicators.Aim: The study investigates the effects of external financial flows on income inequality in the Southern African Development Community (SADC) region.Setting: The study shows the long-run stable relationship between the set of variables.Methods: The study have used the panel cointegration, autoregressive distributed lag and causality techniques.Results: The findings are that in the long run, remittances can strongly reduce income inequality, foreign direct investment (FDI) and cross border bank lending have an increasing effect and foreign aid can weakly reduce inequality. In the short run, FDI and cross border bank lending can strongly explain income inequality, and negative remittances and foreign aid are insignificantly explaining income inequality. Furthermore, the evidence from panel causality confirms the bidirectional causality amongst remittances, cross border bank lending and income inequality, and unidirectional causality in other sets of variables.Conclusion: It can be concluded that external financial flows can play a vital role to reduce persistent income inequality in the SADC region. It is recommended that the SADC governments need to formulate policies on remittances as they have positive returns on human capital, strengthen foreign aid institutions and create conducive environment to attract FDI.

scholarly journals Sources of Economic Growth in the Southern African Development Community: Its Likely Impact on Povery and Employment

2016 ◽  
Vol 9 (2) ◽  
pp. 211-249 ◽  
Author(s):  
Monaheng Seleteng ◽  
Sephooko Motelle
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Poverty Reduction ◽  
Positive Impact ◽  
Political Stability ◽  
Southern African Development Community ◽  
Efficient Manner ◽  
Factors Affecting ◽  
African Development ◽  
Openness To Trade

AbstractAs a means to combat poverty, many countries still pursue high and stable rates of economic growth. In order to attain sustained economic growth, it is crucial that countries do not only accumulate a certain stock of factors of production, but demonstrate the ability to combine such factors in an efficient manner. This study attempts to investigate the key sources of economic growth in the Southern African Development Community (SADC) region, using different panel data techniques, and make inference on poverty and employment. The findings reveal that factors affecting economic growth in the region are: inflation, government expenditures, openness to trade, human capital, level of financial development, and political stability. Furthermore, from the analysis it can be inferred that a higher growth rate has a positive impact on employment and, hence, may lead to poverty reduction.

scholarly journals Does High Tech Exports Really Matter for Economic Growth A Panel Approach for Upper Middle-Income Economies

2018 ◽  
Vol 9 (31) ◽  
pp. 43-54
Author(s):  
Oğuz DEMİR
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Panel Data Analysis ◽  
Dynamic Panel Data ◽  
High Tech ◽  
Middle Income ◽  
Middle Income Countries ◽  
Long Run ◽  
The Impact ◽  
Technological Products

In this study, we analyzed the data about the technological diversification of export composition of upper middle-income countries and the impact of the technological composition of exported goods on GDP growth. Using the dynamic panel data analysis techniques for 34 countries between 1995-2015, we confirmed that exports of high technological products will have a significant positive impact on economic growth for upper middle-income countries as well as medium technological products’ exports which have a limited effect. The exports of low-tech products will have a negative effect for economic growth in the long run.

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.

Relationship between Budget Deficit and Economic Growth: Evidence from Ethiopia

2021 ◽  
Vol 2 (2) ◽  
pp. 10-15
Author(s):  
Desalegn Emana
Keyword(s):  
Economic Growth ◽  
Interest Rates ◽  
Budget Deficit ◽  
Time Series Data ◽  
Negative Impact ◽  
Positive Impact ◽  
Negative Relationship ◽  
Nominal Exchange Rate ◽  
Series Data ◽  
Long Run

This study examined the relationship between budget deficit and economic growth in Ethiopia using time series data for the period 1991 to 2019 by applying the ARDL bounds testing approach. The empirical results indicate that budget deficit and economic growth in Ethiopia have a negative relationship in the long run, and have a weak positive association in the short run. In line with this, in the long run, a one percent increase in the budget deficit causes a 1.43 percent decline in the economic growth of the country. This result is consistent with the neoclassical view which says budget deficits are bad for economic growth during stimulating periods. Moreover, in the long run, the variables trade openness and inflation have a positive impact on Ethiopian economic growth, and on the other hand, the economic growth of Ethiopia is negatively affected by the nominal exchange rate in the long run. Apart from this, in the long run, gross capital formation and lending interest rates have no significant impact on the economic growth of the country. Therefore, the study recommends the government should manage its expenditure and mobilize the resources to generate more revenue to address the negative impact of the budget deficit on economic growth.

scholarly journals ANALISIS PENGARUH REMITANSI, INVESTASI ASING LANGSUNG, IMPOR DAN PERTUMBUHAN EKONOMI DI INDONESIA

2020 ◽  
Vol 2 (4) ◽  
Author(s):  
Regina Septriani Putri ◽  
Ariusni Ariusni
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
Time Series Data ◽  
Positive Impact ◽  
Series Data ◽  
Long Run ◽  
Short Run ◽  
The Government ◽  
Positive Effect

Abstract : This study examined and analysis the effect of remittances, foreigndirect investment, imports, and economic growth in Indonesia in the long run andshort run. This study using Error Correction Model (ECM) method and using theannual time series data from 1989 to 2018. This study found that: (1) remittancehave an insignificant positive effect on economic growth in the long run and shortrun,(2)foreign direct investment have a significant positive impact on economicgrowth in the long run and short run, (3) import have an insignificant positiveimpact on economic growth both in the long run and short run. To increase theeconomic growth in the future, this study suggests the government to decresingimports of consume goods and increasing the inflow of capital goods, rawmaterial goods, remittances and foreign direct investment.Keyword : Remittance, Foreign Direct Investment, Import, Economic Growth andECM

Sign in / Sign up

Export Citation Format

Share Document