Improvement of the remuneration system in modern conditions

2020 ◽  
pp. 6-12
Author(s):  
S. V. Savina
Keyword(s):  
Economic Growth ◽  
Productivity Growth ◽  
Positive Impact ◽  
Domestic Market ◽  
Effective Demand ◽  
Difficult Situation ◽  
Remuneration System ◽  
Near Future ◽  
Further Development

Today, a difficult situation has developed in the field of wages and incomes of the population, associated with the need to increase the level of wages and real incomes of the population, since low effective demand in the domestic market can become the main constraint on economic growth in the near future. The main goal of wage reform in modern conditions is to restore the role of wages as the main incentive for productivity growth and labor efficiency, which will have a positive impact on the functioning of production and will give an impetus to its further development.

scholarly journals Role of Governance in Debt-Growth Relationship: Evidence from Panel Data Estimations

2021 ◽  
Vol 13 (11) ◽  
pp. 5954
Author(s):  
Qamar Abbas ◽  
Li Junqing ◽  
Muhammad Ramzan ◽  
Sumbal Fatima
Keyword(s):  
Economic Growth ◽  
Public Debt ◽  
Negative Impact ◽  
Positive Impact ◽  
Linear Pattern ◽  
The Public ◽  
Mediating Role ◽  
National Output ◽  
State Governance

This paper provides an empirical analysis of the relationship between debt and national output mediated by a measure of the quality of state governance. Using WGIs dataset of 106 countries for the period 1996–2015, the paper analyzes the mediated effect of governance on debt-growth relationship. For this purpose, we use the fixed effect (LSDV) and system GMM estimation technique in order to overcome the possible problem of endogeneity. Results show the non-linear pattern between public debt and economic growth via governance. Although, public debt has negative impact on economic growth, but the results are statistically positive and significant when public debt is interacted with governance, which confirms that governance is a channel by which public debt influences economic growth. Moreover, we calculate the threshold of governance which shows that the public debt has positive impact on economic growth when the governance level is higher than the threshold and adversely affects the economic growth in the case of low level of governance than threshold. Evidence from this study reveals the fact that governance plays a mediating role in debt-growth relationship as there is a pattern of complementarity between public debt and governance: the higher the level of governance, the lesser the adverse effect of public debt on economic growth.

Brain drain and economic growth: evidence of productivity growth from brain circulation

2021 ◽  
Vol 10 (2) ◽  
pp. 128-145
Author(s):  
Woosik Yu
Keyword(s):  
Economic Growth ◽  
Brain Drain ◽  
Productivity Growth ◽  
Fixed Effects ◽  
Positive Impact ◽  
Brain Circulation ◽  
Middle Income ◽  
Positive Effects ◽  
Fixed Effects Regression ◽  
The Brain

This paper analyzes the effect of the so-called ‘brain drain’ on economic growth through the channel of growth in total factor productivity. We analyze panel data that measure the severity of brain drain, which are from IMD and the U.S. National Science Foundation. Our analysis shows that middle-income countries have more brain drain compared to the group of high-income countries. Also, emerging economies that grow fast tend to experience more brain drain. Our results from fixed effects regression models show that that brain drain has a significant and positive impact on economic growth, and the main channel is productivity growth. This can be considered as evidence of the positive effects of ‘brain circulation’, which is one of the brain drain phenomena that settlement of the talents in advanced countries can eventually help improve the productivity of home country by the sharing of advanced technologies and skills around them with colleagues in motherland. Therefore, a strategy of utilizing overseas resident talents should also be considered, alongside the brain-attraction policy.

The cultural dividend: a hidden source of economic growth in emerging countries

2017 ◽  
Vol 24 (4) ◽  
pp. 590-616 ◽  
Author(s):  
Shaomin Li ◽  
Seung Ho Park ◽  
David Duden Selover
Keyword(s):  
Economic Growth ◽  
Labor Productivity ◽  
Productivity Growth ◽  
Large Scale ◽  
Cultural Factors ◽  
Content Type ◽  
Economic Productivity ◽  
Large Scale Data ◽  
Productivity Gains

Purpose The purpose of this paper is to develop the theoretical linkage between culture and economic growth and empirically test the relationship by measuring culture and how it affects labor productivity. Design/methodology/approach This study uses a cross-section study of developing countries and regresses economic productivity growth on a set of control variables and cultural factors. Findings It is found that three cultural factors, economic attitudes, political attitudes, and attitudes towards the family, affect economic productivity growth. Originality/value Many economists ignore culture as a factor in economic growth, either because they discount the value of culture or because they have no simple way to quantify culture, resulting in the role of culture being under-researched. The study is the first to extensively examine the role of culture in productivity growth using large-scale data sources. The authors show that culture plays an important role in productivity gains across countries, contributing to the study of the effects of culture on economic development, and that culture can be empirically measured and linked to an activity that directly affects the economic growth – labor productivity.

scholarly journals INVESTASI ASING LANGSUNG DAN PERTUMBUHAN EKONOMI DI WILAYAH ASEAN PERIODE 2004-2016

2019 ◽  
Vol 23 (2) ◽  
pp. 57-66
Author(s):  
Aditya Febriananta Putra ◽  
Suyanto . ◽  
Irzameingindra Putri Radjamin
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Foreign Direct Investment ◽  
Significant Role ◽  
Direct Investment ◽  
Negative Impact ◽  
Positive Impact ◽  
Accelerate Development ◽  
Fixed Capital Formation

Exertions to accelerate development carried out by developing countries in general are oriented towards improving or improving people’s lives. Developing countries are characterized as countries that lack capital, savings and investment. The role of Labor has a significant effect but has a negative impact on economic growth. Agriculture and Service also performance a significant role, despite having a positive impact on economic growth. While other variables, namely Fixed Capital Formation, Foreign Direct Investment, Export, Manufacture, and Fertility showed insignificant results on economic growth.

Introduction

2020 ◽  
pp. 1-36
Author(s):  
Paul Erdkamp ◽  
Koenraad Verboven ◽  
Arjan Zuiderhoek
Keyword(s):  
Economic Growth ◽  
Structural Properties ◽  
Productivity Growth ◽  
Capital Goods ◽  
Roman Economy ◽  
Roman World ◽  
Large Complex ◽  
Modern Economic Growth ◽  
Modern Economic

Investment in capital, both physical and financial, and innovation in its uses are often considered the linchpin of modern economic growth, while credit and credit markets now seem to determine the wealth—as well as the fate—of nations. Yet was it always thus? The Roman economy was large, complex, and sophisticated, but in terms of its structural properties, did it look anything like the economies we know today? Through consideration of the allocation and uses of capital and credit and the role of innovation in the Roman world, this volume explores how capital in its various forms was generated, allocated, and employed in the Roman economy; whether the Romans had markets for capital goods and credit; and whether investment in capital led to innovation and productivity growth.

scholarly journals The Influence of Economic Growth on the Degree of Autonomy of the Regions and the Absorption of Labor and Social Welfare: Regencies and Cities of Maluku Province

2016 ◽  
Vol 8 (2) ◽  
pp. 234
Author(s):  
Nahu Daud
Keyword(s):  
Economic Growth ◽  
Social Welfare ◽  
Path Analysis ◽  
Significant Influence ◽  
Positive Impact ◽  
Well Being ◽  
County Government ◽  
The Government ◽  
The City

<p>This research aims (1) to analyze and test the influence of economic growth on the degree of autonomy the area in County Government and city of Maluku Province, (2) Analyze and test the influence of economic growth on the absorption of labor on County Government and city of Maluku province (3) Analyze and test the influence of economic growth on the welfare of society at the County Government and the city of Maluku province (4) Analyze and test the influence of degree of autonomous region of absorption of labor on County Government and city of Maluku province, (5) Analyze and test the influence of the degree of autonomy the area of social welfare in the Government District and the city of Maluku province (6) Analyze and test the influence of absorption of labor against the welfare of the community on County Government and City Maluku province. The approach used is the analysis of Path Analysis, intended to answer a relationship direct or indirect causal model has been developed on the basis of theoretical consideration of researchers and certain knowledge. In addition to the causal relationship is based on the data, also based on knowledge, the formulation of hypotheses and logical analysis, so that it can be called path analysis can be used to test a set of causal hypotheses as well as to interpret these relationships.</p><p>The results showed (1) economic growth positively and significantly influence the degree of autonomy of the region. These results lend support to the hypothesis of one stating that economic growth was a significant influence on the degree of autonomy of the region. (2) The influential economic growth positively and significantly to labor absorption. These results lend support to the hypothesis of two stating that the influential economic growth dramatically to labor absorption. (3) Economic growth positively and significantly influences the well-being of the community. These results provide support for the three hypotheses which state that the economic growth affects significantly to the well-being of society. (4) The degree of autonomy the positive and significant effect of absorption of labor. (5) The degree of autonomy to the region in a positive and significant effect on the welfare of society. (6) The positive impact of labor absorption and significantly to the well-being of society. (7) The results of the discussion to confirm that economic growth affectsconsiderably to the well-being of the community through the degree of autonomy of the regions and the absorption of labor. Significant influence occurs because the existence of a direct relationship with the role of the community.</p>

scholarly journals THE ROLE OF BANKS AND SECURITIES MARKETS IN THE POST-TRANSITION ECONOMIES OF EASTERN EUROPE

2020 ◽  
Author(s):  
Sasho Arsov
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Eastern Europe ◽  
Banking Sector ◽  
Positive Impact ◽  
Financial Sector ◽  
Securities Markets ◽  
Positive Role ◽  
The Impact

Economic theory predicts that the development of the financial sector should have a positive impact on the overall economic development. Research has predominantly confirmed this expectation, with the remark that at earlier stages of economic development this impact should be higher, while a disproportionate banking sector has detrimental effect on growth through its impact on attracting highly skilled workforce, increased presence of moral hazard and the associated banking crises. This issue has been studied only occasionally in the case of the former socialist economies of Central and Eastern Europe and the former USSR. This paper represents an attempt to analyze the impact of the banking sector and securities markets development on the economic growth of these countries. A sample of 22 countries is assembled, using data from 1995 to 2018 and a panel regression and a GMM technique are used to derive conclusions on the researched topic. The analysis has shown that the banking sector has played a positive role in the economic growth throughout the analyzed period, while the role of the stock market is not significant. This is in line with the previous studies which have confirmed that the positive role of the securities markets should be expected only at higher levels of economic development. Also, the impact of the overall financial sector is deemed to be positive.

scholarly journals KAWASAN EKONOMI KHUSUS DAN PEMBANGUNAN EKONOMI REGIONAL: SEBUAH STUDI LITERATUR

2020 ◽  
Vol 1 (2) ◽  
pp. 40-54
Author(s):  
Nurafni Irma Suryani ◽  
Ratu Eva Febriani
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Regional Economy ◽  
Positive Impact ◽  
Special Economic Zones ◽  
Literature Study ◽  
Economic Growth Rate ◽  
Economic Zones ◽  
The Impact

Special Economic Zones are very important for the progress of an area. SEZ is able to contribute to the regional economy and increase economic development by providing direct and indirect effects. The purpose of this study is to determine the impact of special economic zones on regional economic development. The object of this study is to explore the establish SEZ in Indonesia just only refer to two SEZs namely SEI Mangke and Tanjung Lesung. This research used literature study as a method. The results show that SEZ make the regional economy is starting to move towards a better direction. The role of two SEZs observed have different impact on regional economy, SEI Mangke has a positive impact on macroeconomy indicator such as reduced unemployment, reduced poverty and an increased economic growth rate in Simalungun Regency. Otherwise, Tanjung Lesung just has a positive impact on MSMEsKeywords: Unemployment, Poverty, Economic Growth, Pengembangan UMKM, SEZ Sei Mangke, SEZ Tanjung Lesung

Macroeconomics and the Law

2019 ◽  
Vol 15 (1) ◽  
pp. 377-396
Author(s):  
Yair Listokin ◽  
Daniel Murphy
Keyword(s):  
Economic Growth ◽  
Fiscal Policy ◽  
Business Cycles ◽  
Gross Domestic Product ◽  
Productivity Growth ◽  
Financial Regulation ◽  
Institutional Arrangements ◽  
The Law ◽  
Legal Interventions

This article surveys recent work on the role of law in determining economic aggregates such as gross domestic product, unemployment, inflation, and productivity growth. We provide a brief overview of macroeconomics and discuss how legal interventions and institutional arrangements such as monetary, fiscal policy, financial regulation, and other legal changes can stabilize business cycles. Finally, we discuss the role of the law in promoting economic growth.

Role of Universities on the Level of Regional Growth in Portugal

2020 ◽  
pp. 183-202
Author(s):  
Vitor Miguel Ribeiro ◽  
Celeste Varum ◽  
Ana Dias Daniel
Keyword(s):  
Economic Growth ◽  
Regional Development ◽  
Structural Breaks ◽  
Positive Impact ◽  
Regional Growth ◽  
Long Run ◽  
Key Players ◽  
One Step ◽  
The University

Universities nowadays are considered key players in the development of entrepreneurial ecosystems and, thus, may impact regional development. This chapter analyzes the role of the university as a determinant of regional economic growth in Portuguese NUTS III regions, from 2004-2017. One-step and two-step system GMM estimation results show a statistically significant and positive impact of universities upon regional growth. Moreover, the magnitude of effects is transversely stronger in the long run, which requires the need to avoid structural breaks in public actions previously initiated in the past.

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