scholarly journals Impact of Public Education Expenditures on Economic Wellbeing in Developing Economies

2020 ◽  
Vol 6 (1) ◽  
pp. 122-139
Author(s):  
Faiz ur Rahim ◽  
Posha Gul ◽  
Madiha Asma
Keyword(s):  
Public Education ◽  
Developing Economies ◽  
Generalized Method Of Moments ◽  
Consumption Expenditure ◽  
Education Expenditure ◽  
Final Consumption ◽  
Educational Expenditures ◽  
Education Expenditures ◽  
Per Capita ◽  
The Impact

Education can affect economic growth and wellbeing through different channels like by increasing the efficiency of the workforce, reducing inequality, and increasing the knowledge and the innovative capacity of an economy. The key objective of the present research is to explore the impact of public education expenditures on economic wellbeing in developing economies. The present study explored the impact of public education expenditures on economic wellbeing by using panel dataset of 21 developing economies over the period of 1980-2014. Household Final Consumption Expenditure Per Capita was used as a proxy to measure economic wellbeing. The panel estimation technique of Generalized Method of Moments (GMM) was used for the analysis. Research findings revealed that there was a positive and significant relationship between education expenditure and economic wellbeing. Economic wellbeing of the society was directly linked with more priority to educational expenditures in public budget. Hence, developing economies should enhance their public spending on education. Keywords: Economics of Education, Public Education Expenditure, Economic Wellbeing, Household Final Consumption Expenditure per Capita, Developing Economies

The impact of urbanization on energy consumption and efficiency

2017 ◽  
Vol 28 (7) ◽  
pp. 673-686 ◽  
Author(s):  
Pengfei Sheng ◽  
Yaping He ◽  
Xiaohui Guo
Keyword(s):  
Energy Consumption ◽  
Method Of Moments ◽  
Energy Use ◽  
Generalized Method Of Moments ◽  
Method Of Moments Estimation ◽  
Process Of Urbanization ◽  
Per Capita ◽  
Using Data ◽  
Impact Of Urbanization ◽  
The Impact

There is no consensus about the impact of urbanization on energy efficiency. We seek to fill this gap in literature using data from 78 countries for the period of 1995 through 2012. Extending the Stochastic Impacts by Regression on Population, Affluence, and Technology model, we identify the impact of urbanization on energy consumption and efficiency. Results of generalized method of moments estimation indicate that the process of urbanization leads to substantial increases in both the actual and the optimal energy consumption, but a decrease in efficiency of energy use. In addition, we find that the extent to which energy inefficiency correlates with urbanization is greater in countries with higher gross domestic product per capita.

Nonfarm diversification and the well-being of rural farm households in developing countries: Evidence from Ghana using new dataset

2018 ◽  
Vol 69 (3) ◽  
pp. 207-229
Author(s):  
Bernardin Senadza ◽  
Edward Nketiah-Amponsah ◽  
Samuel Ampaw
Keyword(s):  
Well Being ◽  
Household Consumption ◽  
Empirical Method ◽  
Farm Households ◽  
Consumption Expenditure ◽  
Switching Regression ◽  
Rural Ghana ◽  
Per Capita ◽  
Nationally Representative ◽  
The Impact

Abstract This paper examines the impact of participation in both farm and nonfarm activities on both household consumption expenditure per adult equivalent and household per capita income, in rural Ghana. The objective is to ascertain whether the results are sensitive to the choice of well-being measure. We use a nationally representative dataset on 8,059 rural farm households collected in 2012/13. In order to account for potential selectivity and endogeneity biases, which previous studies failed to correct for, we adopt the endogenous switching regression (ESR) estimation technique. We find diversified households to be systematically different from their undiversified counterparts in terms of socioeconomic and demographic centeracteristics, thus justifying the empirical method used. Our results indicate a higher observed mean consumption for the diversified sub-sample compared to its counterfactual, implying that households participating in nonfarm enterprise activities in addition to farming have greater mean consumption compared to households engaged solely in farming. Similar conclusions are reached when income instead is used as the well-being indicator. Our findings, thus, indicate that the well-being implication of farm-nonfarm diversification is insensitive to the choice of well-being measure.

MULTIVARIATE TOBIT SYSTEM ESTIMATION OF EDUCATION EXPENDITURE IN URBAN CHINA

2014 ◽  
Vol 59 (01) ◽  
pp. 1450005 ◽  
Author(s):  
QUHENG DENG ◽  
JINJUN XUE
Keyword(s):  
Income Inequality ◽  
Survey Data ◽  
Household Income ◽  
Private Tutoring ◽  
Urban China ◽  
Education Expenditure ◽  
Education Inequality ◽  
Income Per Capita ◽  
Education Expenditures ◽  
Per Capita

Using the 2007 education survey data in urban China, this paper measures the inequality of education expenditures, an indicator of education inequality, and analyzes the effect of household income on the components of education expenditures. Since the components of education expenditure are censored and inter-related, this paper runs a multivariate Tobit system regression of five categories of education expenditures. Our results imply that household income per capita positively affects expenditure on boarding, private tutoring and costs for selecting schools but does not affect expenditure on textbooks. In return, the inequality of education expenditures contribute to income inequality in urban China.

Labor Market Transition and the Impact of Education on Real Per Capita Household Consumption Expenditure in Vietnam

2011 ◽  
Vol 32 (1) ◽  
pp. 96-108
Author(s):  
Hoang Van Kinh ◽  
Daniel Westbrook
Keyword(s):  
Labor Market ◽  
Educational Attainment ◽  
Transition Period ◽  
Household Consumption ◽  
Substantial Part ◽  
Consumption Expenditure ◽  
Market Activity ◽  
Per Capita ◽  
The Impact ◽  
Labor Market Activity

The degree to which the impact of schooling on real per capita household consumption expenditure (rpce) depends on the intensity of local labor market activity was estimated and changes in that relationship during a substantial part of Vietnam’s transition period (1993–2004 were documented). Key variables in the analysis are the years of schooling attained by the best-educated member of each household, an index of labor market activity at the commune level, and the interaction between the two. As schooling is likely to be endogenous, average educational attainment of others in the same age, gender, and commune cohort was used as an instrumental variable (IV). The estimated impact of educational attainment on rpce is economically substantial, statistically significant, increasing over time, and is powerfully enhanced by increasing labor market activity.

scholarly journals Analysis of the Determinants of Education Expenditures in Malaysia

2017 ◽  
Vol 2 (1) ◽  
pp. 1
Author(s):  
Najumunisha Abdul Jabbar ◽  
Doris Padmini Selvaratnam
Keyword(s):  
National Development ◽  
Education Spending ◽  
Education Expenditure ◽  
Educational Expenditures ◽  
Political Concept ◽  
Public Policy Analysis ◽  
Education Expenditures ◽  
Government Education ◽  
The Government ◽  
Malaysian Government

Expenditure on education helps in improving the skill formation and raises the ability of individuals to produce and work. It is said to be an investment in human capital which is closely connected with the economic development. Government education spending is of great importance to national development and plays a prime role in assisting growth and knowledge deepening. The aim of this study is to build on the established theories of public policy analysis on education and to empirically investigate and analyze the determinants of public expenditure on education in Malaysia. For the occasion of this study, it is posited that education expenditure is determined by multidimensional determinants. A number of theories are therefore incorporated regarding economic-demographics and political concept which have been used in the study. The results reveal that the education policy in Malaysia is mainly determined by budget deficit and the revenue collected by the government with a significant coefficient variables of -0.22and 0.15 percent respectively. Besides, unemployment has an inverse but insignificant impact on total educational expenditures. These results imply that the Malaysian government mainly takes into account only certain factors and neglect to incorporate the importance of other factors, such as demographic and educational indicators, when allocating education expenditures. Whereas Malaysian government education expenditure doesn’t focus on the political factor which is well described by the insignificant level of 0.80 percent of the dummy election cycle variable.

scholarly journals The impact of stock market development on economic growth: A GMM approach

2021 ◽  
Vol 18 (3) ◽  
pp. 74-81
Author(s):  
Toan Ngoc Bui ◽  
Thu-Trang Thi Doan
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Capital Accumulation ◽  
Developing Economies ◽  
Positive Impact ◽  
Generalized Method Of Moments ◽  
The Philippines ◽  
Market Development ◽  
Stock Market Development ◽  
The Impact

This study investigated the impact of stock market development (SMD) on economic growth (EG) among emerging markets and developing economies (EMDEs) in Asia. The data sample includes eight Asian EMDEs (China, Indonesia, India, Sri Lanka, Malaysia, the Philippines, Thailand, and Vietnam) from 2008 to 2019. These countries share several similarities, so this ensures reliability of the results. Regarding the analysis, the generalized method of moments (GMM) is used for the estimation. The results show that SMD exerts a positive impact on EG. This finding confirms the importance of SMD in improving efficient capital accumulation and allocation, and also allows investors to reduce risks and increase liquidity, which will boost EG. Further, the significant influence of domestic credit (DC), control of corruption (CC), and inflation (INF) on EG is also highlighted. These findings are valuable empirical evidence that greatly contributes to reinforcing the suitability of classical economic growth theories, especially the theory of endogenous growth. They are also essential to EMDEs in Asia. Accordingly, the EMDEs should develop effective policies to improve the stock market’s scale, which contributes substantially to the development of EG. Moreover, these economies need to pursue many appropriate policies in sync, such as stimulating SMD, improving governance effectiveness and implementing effective macroeconomic policies. Acknowledgment This study was funded by the Industrial University of Ho Chi Minh City (IUH), Vietnam (grant number: 21/1TCNH01).

Macroeconomic Risk and Political Stability: Perspectives from Emerging and Developing Economies

2021 ◽  
pp. 097215092110476
Author(s):  
Rexford Abaidoo ◽  
Elvis Agyapong
Keyword(s):  
Rule Of Law ◽  
Developing Economies ◽  
Generalized Method Of Moments ◽  
Political Stability ◽  
Output Growth ◽  
Sub Saharan Africa ◽  
Coefficient Estimates ◽  
Macroeconomic Risk ◽  
Empirical Estimates ◽  
The Impact

This study examines the impact of macroeconomic risk on political stability, using data compiled from 38 countries in the sub-region of sub-Saharan Africa (SSA), from 1996 to 2018. Macroeconomic risk index employed in this study is constructed using principal component analysis (PCA) from key economic variables. Empirical estimates verifying the relationship in question are conducted using the two-step system generalized method of moments (TS-SGMM) estimation technique. Presented empirical estimates suggest that macroeconomic risk has an adverse impact on political stability, all things being equal. Reported coefficient estimates further suggest that improvement in rule of law among economies in the sub-region significantly moderates the negative impact exerted on the political environment by macroeconomic risk. Coefficient estimates additionally suggest that improvement in governance and institutional variables (corruption control, government effectiveness, regulatory quality and rule of law) augment efforts at promoting political stability even in an environment characterized by volatile output growth.

The impact of green finance and Covid-19 on economic development: capital formation and educational expenditure of ASEAN economies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Quang-Thanh Ngo ◽  
Hoa Anh Tran ◽  
Hai Thi Thanh Tran
Keyword(s):  
Economic Development ◽  
Data Collection ◽  
Generalized Method Of Moments ◽  
Capital Formation ◽  
Content Type ◽  
Educational Expenditures ◽  
Green Finance ◽  
The World ◽  
Asean Countries ◽  
The Impact

PurposeThe purpose of this study is to examine the impact of green finance (i.e. green investment, green security and green credit) along with capital formation and government educational expenditures on the economic development of (ASEAN) countries.Design/methodology/approachThe data were gathered from the central banks of all ASEAN countries and the World Bank Indicators between 2008 and 2019. The fixed-effect model and generalized method of moments were used to check the nexus between the constructs.FindingsThe results revealed that green finance along with capital formation and government educational expenditures have a positive association with the economic development of ASEAN countries.Research limitations/implicationsThe study carries some limitations, even though it addresses the underlying variables comprehensively. These limitations provide opportunities to future researchers and authors to expand the scope and accuracy of their study. This research investigation has been supported by the data collected from a single source. Though data collection is maintained correctly, it is still recommended to the upcoming scholars to acquire data to reconfirm the same findings using multiple data sources. The data collected from using some specific data source may be limited in scope and may hinder the comprehensive elaboration of the underlying variables and their mutual relationship. Therefore, the utilization of multiple sources of data collection gives data sufficient to meet the requirement of an okay quality research study. The study is about the economies of ASEAN countries. It checks the influences of green finance development on economic activities and the country's economic growth in ASEAN countries' economies. Thus, its results are valid only in the economies of these countries, and this research investigation lacks generalizability. For generalizability, the authors must consider the underlying variables in the world's vast economies. They must adopt a standard scale to judge the impacts of green financial development on economic development. Besides, the study analyzes the economic factors, economic conditions and their effects on the country's position in the world economy in the face of a severe epidemic like COVID-19. Thus, the results may be different in the case of the normal situation. So, a general standardized study is recommended to be conducted in the upcoming days.Originality/valueGreen finance has significant capability to improve the global economy, especially amidst the COVID-19 pandemic. This study is beneficial for policymakers to develop policies related to economic development with reference to green finance and also helps future research on a similar topic.

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