scholarly journals The Relationships between Competitiveness and Economic Growth: A Study on the Countries of Central Asia and Caucasus

2012 ◽  
Author(s):  
Cevat Gerni ◽  
Selahattin Sarı ◽  
Ayşen Hiç Gencer ◽  
Ziya Çağlar Yurttançıkmaz
Keyword(s):  
Economic Growth ◽  
New Technologies ◽  
Transition Period ◽  
Research Policy ◽  
Raw Materials ◽  
Panel Data Analysis ◽  
Supply And Demand ◽  
Policy Recommendations ◽  
Central Asian ◽  
Production Relations

The relationships among input, production and market suddenly broke down after the collapse of the USSR in 1991. The reflections of this disintegration are deeply felt in the Central Asian and in the Caucasian economies, which lack the traditions of being a government. The imbalances in the supply and demand, such as shutting down of factories due to breakdown of production relations and the resulting severe rise in the unemployment rate, caused a transition recession. As well-known in the literature, the main reason behind this is the interdependency of the production structures in these newly independent former Soviet countries. Large industrial establishments were left alone due to lack of sufficient raw materials and other inputs, due to lack of new technologies, and/or due to political void resulting from the transition period. In the newly established economic and political system, all of these countries, namely Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan and Turkmenistan, try to realize their economic growth and development by specializing in the production of goods in which they have an economic advantage in terms of competitiveness. In this study, the effects of competitiveness on economic growth is investigated for these 7 countries during the 1995-2010 period using panel data analysis based on the Lafay index. In the light of the results of this research, policy recommendations are attempted in order to determine the sectors in which these countries are more competitive and hence to suggest ways of increasing their economic growth rate.

scholarly journals The Relationship between Energy Consumption and Growth in the Transition Economies of Central Asian Republics

2013 ◽  
Author(s):  
Abdullah Özdemir ◽  
Mehmet Mercan ◽  
Erkan Dendeş
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Soviet Union ◽  
Transition Period ◽  
Panel Data Analysis ◽  
Asian Countries ◽  
Capitalist System ◽  
The Soviet Union ◽  
Central Asian ◽  
Central Asian Countries

The transition period from the socialist system to the capitalist system is used to describe economies in transition. With the dissolution of the Soviet Union in the 1990s, with Central and Eastern European Countries, the Countries in Central Asia have entered into this process. Central Asian Countries haven’t entered into this process providently a lot in transitional stage. At the end of secession process from the Soviet Union, these countries had only limited industrial plants and natural resources. However, reserves of energy resources that these countries have in their economic growth have been a pusher factor. No doubt, increasing energy consumption has a significant effect in the development of the countries. The main purpose of this study is to test the existence of growth relation and energy consumptions in Central Asian Countries that live the transition period accordingly. This study investigates relationship between economic growth and energy consumption for Central Asian Countries over the period 1990-2010 by using panel data analysis. As a conclusion it is reached that there is a significant correlation between energy consumption and economic growth for these countries.

scholarly journals Seaports and Economic Growth: Panel Data Analysis of EU Port Regions

2020 ◽  
Vol 8 (12) ◽  
pp. 1017
Author(s):  
Gorana Mudronja ◽  
Alen Jugović ◽  
Dunja Škalamera-Alilović
Keyword(s):  
Economic Growth ◽  
New Technologies ◽  
Panel Data Analysis ◽  
Generalized Method Of Moments ◽  
Transport Infrastructure ◽  
Regional Economies ◽  
Successful Operation ◽  
Positive Effects ◽  
Business Entities ◽  
The Impact

Seaports are an important factor in regional economies since their operations create positive effects on the economy. The application of new technologies and innovations is important for the successful operation of seaports; their use reduces costs, facilitates business, increases transparency, and attracts new business entities. This paper analyses the impact of seaports on the growth of regional economies within the endogenous growth theory based on research and development (R&D) for a sample of 107 European Union’s (EU) port regions observed over the period from 2005 to 2015. The model was tested by using the two-step generalized method of moments. The results of the research indicate that seaports have a significant impact on the economic growth of the EU port regions, yet it is necessary to consider other factors that affect the growth of regional economies such as investments in R&D and human capital. These factors are often underestimated in relation to investment in transport infrastructure; therefore, the guidelines for partial diversion of funds might follow such a path.

scholarly journals Impact of the oil and gas industry on the economy of producing countries

2020 ◽  
Vol 36 (4) ◽  
pp. 693-718
Author(s):  
Irina Filimonova ◽  
◽  
Leonty Eder ◽  
Irina Provornaya ◽  
Daria Cherepanova ◽  
...  
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Panel Data ◽  
Resource Dependence ◽  
Oil And Gas ◽  
Raw Materials ◽  
Panel Data Analysis ◽  
Green Energy ◽  
Sustainable Growth ◽  
Resource Rent

This paper discusses in detail the resource dependency of economies in countries with a high level of hydrocarbon production and income from the export of raw materials; the consequences associated with “resource dependence”; and reasons for their occurrence, as well as possible ways to overcome them. The authors establish the fact that in recent years there has been a “negative” multiplicative effect from the development of Russia’s oil and gas complex. Therefore, the goal is to identify factors of “resource dependence” that contribute to economic growth, to generalize the results of the study at the global level for key oil-exporting countries, and to draw conclusions for the Russian economy. As a methodological basis for the study, a panel data analysis method was chosen, which allows for taking into account the influence of both the dynamics and structure of changes in resource dependence factors in a regional context. The informational basis of the study was made by countries exporting hydrocarbon raw materials and classified by macro-regions, level of economic development, and degree of development of democracy. According to the analysis of panel data, the influence of resource dependence factors is not always of high importance on the economy of oil-exporting countries. The economic growth of many countries is more dependent on factors of sustainable growth that are consistent with the goals of sustainable development. The study allows us to conclude that it is advisable for countries that are currently in a condition of resource dependence to revise their development policies in the direction of differentiating the economy, primarily using the advantages of resource rent for the development of processing and manufacturing industries, as well as for the development of green energy. The results of the study can provide an analytical basis for discussions on the effective development of the oil and gas complex of Russia and the world, taking into account modern challenges and threats to sustainable development.

scholarly journals Examining the rare-earth elements (REE) supply– demand balance for future global wind power scenarios

2018 ◽  
pp. 87-90
Author(s):  
Per Kalvig ◽  
Erika Machacek
Keyword(s):  
Rare Earth ◽  
Wind Energy ◽  
Rare Earth Elements ◽  
Permanent Magnets ◽  
New Technologies ◽  
Raw Materials ◽  
Supply And Demand ◽  
Energy Sector ◽  
Offshore Wind ◽  
Value Chains

Rare-earth elements (REE) are considered Critical Raw Materials (CRM; EC 2018; US Department of the Interior 2018) and essential in the technological transformation of the energy sector into carbon-free technologies such as wind turbines, electrified transport and LED-lights. The new technologies have led to swiftly expanding markets for REE products, in which China has achieved a monopolistic role in all segments of the REE value chains. Political strategies aimed to establish REE supplies outside China are currently being implemented within the EU and in other Western countries in order to ensure an adequate future REE supply. However, new REE value chains outside China have not yet materialised. The aim of this paper is to assess whether the global REE supply from present and potential mines can keep pace with the REE demand for the expanding offshore wind energy sector (Fig. 1). A successful development of this sector outside China relies on an adequate supply of particularly neodymium (Nd) and to some extent praseodymium (Pr), terbium (Tb) and dysprosium (Dy), used in permanent magnets for windmill generators. In 2015, about 82% of the global Nd-oxide production was used in the permanent magnets production (Adamas 2016). Here we evaluate the future supply and demand situations for Nd, Pr, Tb and Dy in the global wind energy sector in the form of three scenarios, one for 2020 and two for 2030 based on high and low demand. The balance is discussed. Our assessment reflects the challenge caused by limited insight into the REE supply chains inside China, and the figures presented in this paper are therefore only indicative.

Oil, Rates and Inflation

2005 ◽  
pp. 4-20
Author(s):  
E. Yasin
Keyword(s):  
Economic Growth ◽  
Money Supply ◽  
Raw Materials ◽  
Gdp Growth ◽  
Business Activity ◽  
Demand For Money ◽  
Percentage Points

Currency inflow in Russia from raw materials exports allows taking into account high business activity to assimilate growing money supply transforming it into economic growth. Fall in business activity as a result of pressure on business led to saturation of demand for money. This considerably increases the danger of inflation growth and requires sterilization of excess money supply including the usage of the Stabilization Fund. According to the author's estimates, corresponding losses in GDP growth will equal 1-2 percentage points per year.

Openness of the Russian economy as a source of economic growth

2016 ◽  
pp. 26-42 ◽  
Author(s):  
P. Kadochnikov ◽  
A. Knobel ◽  
S. Sinelnikov-Murylev
Keyword(s):  
Economic Growth ◽  
Economic Integration ◽  
Global Economy ◽  
Regional Economic Integration ◽  
Policy Recommendations ◽  
Regional Economic ◽  
Russian Economy

The paper considers measures on Russia’s integration into the global economy, aimed at the economic growth resumption. It analyzes conditions and mechanisms due to which the expanding trade and mutual investment with other countries contribute to economic growth in Russia. The paper provides policy recommendations for export support, regional economic integration agenda and the institutions reform.

TRENDS IN MINERAL COMPLEX DEVELOPMENT AT THE TURN OF THE CENTUARY

2018 ◽  
pp. 3-15
Author(s):  
A. L. Dergachev ◽  
V. I. Starostin
Keyword(s):  
World Economy ◽  
Raw Materials ◽  
Supply And Demand ◽  
Mineral Resources ◽  
Strategy Of Development ◽  
Mineral Complex ◽  
Complex Development ◽  
Mineral Commodities ◽  
Working Out ◽  
Mineral Base

Important trends in development of world's mineral complex at the beginning of the 21st century are increase of supply and demand for mineral materials differentiated for various metals and nonmetallic mineral resources, regions and countries; concentration of production of mineral commodities in small number of countries; falling availability of economic reserves of raw materials for world economy even at current level of material extraction. The tendencies should be taken into account when working out strategy of development of Russian mineral base.

The sugar and alcohol industry in the biofuels and cogeneration era: a paradigm change (part II)

2014 ◽  
pp. 97-104 ◽  
Author(s):  
Electo Eduardo Silv Lora ◽  
Mateus Henrique Rocha ◽  
José Carlos Escobar Palacio ◽  
Osvaldo José Venturini ◽  
Maria Luiza Grillo Renó ◽  
...  
Keyword(s):  
Large Scale ◽  
New Technologies ◽  
Process Integration ◽  
Animal Feed ◽  
Raw Materials ◽  
Biofuel Production ◽  
New Paradigm ◽  
Alcohol Industry ◽  
Feed Production ◽  
Steam Parameters

The aim of this paper is to discuss the major technological changes related to the implementation of large-scale cogeneration and biofuel production in the sugar and alcohol industry. The reduction of the process steam consumption, implementation of new alternatives in driving mills, the widespread practice of high steam parameters use in cogeneration facilities, the insertion of new technologies for biofuels production (hydrolysis and gasification), the energy conversion of sugarcane trash and vinasse, animal feed production, process integration and implementation of the biorefinery concept are considered. Another new paradigm consists in the wide spreading of sustainability studies of products and processes using the Life Cycle Assessment (LCA) and the implementation of sustainability indexes. Every approach to this issue has as an objective to increase the economic efficiency and the possibilities of the sugarcane as a main source of two basic raw materials: fibres and sugar. The paper briefly presents the concepts, indicators, state-of-the-art and perspectives of each of the referred issues.

Growth and Social Capital: Empirical Analysis of the Relationship

2019 ◽  
pp. 128-134
Author(s):  
Ksenia V. Bagmet
Keyword(s):  
Economic Growth ◽  
Social Capital ◽  
Economic Development ◽  
Social Development ◽  
Empirical Analysis ◽  
Panel Data Analysis ◽  
Well Being ◽  
Developed Countries ◽  
International Institute ◽  
Level Of Economic Development

The article provides an empirical test of the hypothesis of the influence of the level of economic development of the country on the level of development of its social capital based on panel data analysis. In this study, the Indices of Social Development elaborated by the International Institute of Social Studies under World Bank support are used as an indicators of social capital development as they best meet the requirements for complexity (include six integrated indicators of Civic Activism, Clubs and Associations, Intergroup Cohesion, Interpersonal Safety and Trust, Gender Equality, Inclusion of Minorities), comprehensiveness of measurement, sustainability. In order to provide an empirical analysis, we built a panel that includes data for 20 countries divided into four groups according to the level of economic development. The first G7 countries (France, Germany, Italy, United Kingdom); the second group is the economically developed countries, EU members and Turkey, the third group is the new EU member states (Estonia, Latvia, Lithuania, Romania); to the fourth group – post-Soviet republics (Armenia, Georgia, Russian Federation, Ukraine). The analysis shows that the parameters of economic development of countries cannot be completely excluded from the determinants of social capital. Indicators show that the slowdown in economic growth leads to greater cohesion among people in communities, social control over the efficiency of distribution and use of funds, and enforcement of property rights. The level of tolerance to racial diversity and the likelihood of negative externalities will depend on the change in the rate of economic growth. Also, increasing the well-being of people will have a positive impact on the level of citizens’ personal safety, reducing the level of crime, increasing trust. Key words: social capital, economic growth, determinant, indice of social development.

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