scholarly journals The Relationship between Economic Liberalisation and Growth for the Central Asian Republics

2012 ◽  
Author(s):  
Ekrem Erdem ◽  
Oğuzhan Türker
Keyword(s):  
Economic Growth ◽  
Economic Policies ◽  
Short Term ◽  
Central Asian ◽  
Almost All ◽  
The Relationship ◽  
Central Asian Republics ◽  
Growth Economic ◽  
Business Freedom

With the increase in globalization, the liberalisation tendencies have appeared on countries’ economic policies as well as at other areas. The countries have performed liberalisation in almost all the areas of economy by increasing their economic growth. Economic liberalisation movements have especially intensified on foreign trade and finance. The aim of this paper is to exhibit the relationship between economic liberalisation and economic growth for the Central Asian Republics. There are few studies that examine the relationship between economic liberalisation and growth for the Central Asian Republics. In this paper, the relationship between economic liberalisation and economic growth has been tested for 1998-2011 period on the six Central Asian Republics which are Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. Nine variables about economic liberalisation have been taken into account in the analysis. We reached two main results. Firstly, the countries have high index scores in terms of business freedom, trade freedom, fiscal freedom, government size and monetary freedom, while they have low index scores in terms of investment freedom, financial freedom, property rights, freedom from corruption. Secondly, there is no long-term relationship between economic freedom and growth for all countries. The available relations that we found out are short-term character.

scholarly journals Populasi, One Child Policy dan Reformasi Cina

2019 ◽  
Vol 3 (1) ◽  
pp. 80-101
Author(s):  
YUSNARIDA EKA NIZMI NIZMI
Keyword(s):  
Economic Growth ◽  
Population Policy ◽  
Aging Population ◽  
Economic Stability ◽  
Short Term ◽  
One Child Policy ◽  
Child Policy ◽  
The Government ◽  
Almost All

Abstract One child policy has been implemented  in 1979 and the effects both  negative and positive clearly to women. One child policy is a simple China’s economic growth grand strategy that was design to reduce population growth, infrastructure problems,  labour and resources. This policy obviously effective in controlling almost all family just to have one child. The problem is that one child policy should be noted only just for short term, implemented for giving state to get its economic goals and to socialize the values of small family and not for long term solution.  Various critics defense this policy because of its unrespect and harmful for women and also breaking the human rights. This research analyze one child policy and its implications to decline labour ratio which threat economic stability because of aging population. China government  needs to be focus on the meaning of growth in wholistic and more understand that economic growth is also include better echievements in social politics and economic policy dimension. These dimensions will not be reached if the government keep going its attention only on liberalization and modal accumulation.   Keywords: Population Policy, One Child Policy, Family Planning, Economic Growth.   Sejak One Child Policy diimplementasikan pada tahun 1979, terlihat dengan jelas pengaruh positif dan negatifnya terhadap kaum perempuan. Kebijakan satu anak adalah salah satu bagian sederhana dari grand strategi pertumbuhan ekonomi Cina, yang dirancang untuk membatasi pertumbuhan populasi  dan mengurangi tekanan infrastruktur, ketenagakerjaan dan sumberdaya.  Kebijakan ini efektif dalam membatasi  hampir semua keluarga hanya memiliki satu anak. Masalahnya adalah bahwa kebijakan ini harus dipandang sebagai sebuah program jangka pendek, diimplementasikan untuk memberi negara kesempatan mencapai tujuan-tujuan ekonominya dan membantu mensosialisasikan nilai dari keluarga kecil, dan bukan sebagai solusi jangka panjang untuk tekanan ekonomi. Kritik terhadap kebijakan ini sudah banyak bermunculan, kebijakan ini membahayakan kaum perempuan dan implikasinya melanggar hak asasi manusi. Tulisan ini menganalisa posisi kebijakan satu anak dan implementasinya yang banyak mendapatkan pertentanga dan penurunan rasio tenaga kerja yang pensiun yang dapat mengancam stabilititas ekonomi Cina karena persoalan “aging population”. Pemerintah Cina perlu untuk memfokuskan makna pertumbuhan secara holistik dan lebih memahami bahwa pertumbuhan juga mencakup pencapaian yang lebih baik dalam dimensi sosial, politik, dan kebijakan ekonomi.  Dimensi-dimensi ini tidak akan dapat dicapai jika pemerintah terus melanjutkan perhatiannya hanya pada liberalisasi dan akumulasi modal.   Kata Kunci: Kebijakan Populasi, Kebijakan satu anak, Perencanaan Keluarga, Pertumbuhan Ekonomi  

scholarly journals Corruption and Economic Growth in Nigeria (1980-2013)

2015 ◽  
Vol 14 (4) ◽  
pp. 1 ◽  
Author(s):  
Ibrahim W ◽  
Okunade A Sheu
Keyword(s):  
Economic Growth ◽  
Social Economic ◽  
Human Life ◽  
Economic Value ◽  
Party Affiliation ◽  
Short Term ◽  
Political Will ◽  
The Social ◽  
The Relationship

Corruption is as aged as the existence of man and it exists in all sphere of human life. The  persistency  of  corruption  erodes  the  social  economic  value  of  a  nation. The study investigates the relationship between corruption and economic growth in Nigeria, in the period 1980-2013, using the VAR analysis. The study finds the existence of long-term relationship between corruption and unemployment growth on the economic growth of Nigeria. Also, the study found no short-term relationship in corruption and unemployment on economic growth. Hence, the result in the analysis shows that corruption positively has a strong influence on the output of Nigeria. So the rise in growth rate experienced in Nigeria is influenced by high corruption rate in the country, which is making the few rich to be richer, eradicating the middle class and making the poor to be poorer. Therefore, there is a need to develop political will to prosecute anyone found guilty of corruption irrespective of their position, tribe, religion or party affiliation. Such a punishment would also serve as a deterrent to others and help improve real economic growth and development.

scholarly journals Research on the coordination of energy in China’s economic growth

PLoS ONE ◽  
2021 ◽  
Vol 16 (6) ◽  
pp. e0251824
Author(s):  
Yuanying Chi ◽  
Guoqing Bai ◽  
Jialin Li ◽  
Bin Chen
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Correction Term ◽  
Variance Decomposition ◽  
Short Term ◽  
Total Energy Consumption ◽  
Consumption Growth ◽  
Integration Test ◽  
Growth Economic

This study uses the improved Cobb-Douglas two-factor production function model to explore the potential relationship between economic growth and energy consumption through the multiple co-integration test on the panel data of China from 1985 to 2018. The results show that there is a positive long-term balance between energy consumption and economic growth: economic growth of 1%, total energy consumption growth of 1.53%, which means that economic growth needs higher energy support in the former short term. At the same time, the error correction term will converge energy consumption to a long-term equilibrium state with an adjustment intensity of 134.59%. From the results of variance decomposition, we can also see that as the number of periods increases, the part of real economic growth explained by energy consumption gradually increases.

scholarly journals Dynamic Effects of Foreign Portfolio Investment on Economic Growth in Nigeria

2020 ◽  
Vol 4 (3) ◽  
pp. 5-12
Author(s):  
O.W. Toyin ◽  
Ad. E. Oludayol
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Foreign Investment ◽  
Domestic Product ◽  
Distributed Model ◽  
Short Term ◽  
Foreign Portfolio Investment ◽  
Domestic Savings ◽  
The Relationship

The slow growth rate and the deficit of full-fledged financial security have created the preconditions for studying the relationship between foreign investment and economic growth. In previous literature, key emphases on this issue were studied in the short term and in terms of static functioning of the economy. Thus, this article purposely studied the dynamic nature of the development of the relationship between foreign investment and economic growth in Nigeria from 1980 to 2018. The use of the Augmented-Dickey Fuller test confirmed the precondition for adopting dynamic techniques to test the significant role of foreign portfolio investment (among other analyzed factors – domestic savings, government capital expenditures, market capitalization) in the formation of gross domestic product. The use of the lag selection method allowed to determine the optimal lag for estimating the autoregressive distributed model, which substantiates the effectiveness and reliability of the autoregressive distributed lag model. The information base of the study was the statistical bulletin of the Central Bank of Nigeria. The results of empirical estimations in the short term showed that domestic savings had significant and negative impact on gross domestic product. The study empirically confirms and theoretically proves that foreign investment, domestic savings, government spending and market capitalization determine long-term trends in gross domestic product formation in Nigeria. Practically, the empirical result revealed that the presence of a significant deficit of domestic savings in Nigeria creates obstacles to successful economic growth in the country both in the short and long term; portfolio foreign investment accelerates economic growth in the long run to a greater extent than in the short run. Keywords: autoregressive distributed model, Dickie-Fuller test, economic growth, foreign investment, double gap theory.

scholarly journals An Empirical Analysis of the Link between Economic Growth and Exports in Côte d’Ivoire

2019 ◽  
Vol 12 (9) ◽  
pp. 94
Author(s):  
Daouda Coulibaly ◽  
Fulgence Zran Goueu
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Causal Relationship ◽  
Empirical Analysis ◽  
Annual Data ◽  
Short Term ◽  
Causality Test ◽  
Long Run ◽  
The Relationship

This paper aims to analyze the relationship between exports and economic growth in Côte d’Ivoire. In order to achieve this objective, annual data for the period 1960-2017 were tested by using the cointegration approach of Pesaran, Shin and Smith, including the causality test of Breitung and Schreiber. According to our analysis it is only exports that drive economic growth and not the opposite. Exports act positively and significantly on economic growth in the short term as well as in the long term. The causality test of Breitung and schreiber indicates a one-way long-run causal relationship ranging from exports to gross domestic product (GDP). All those results show that exports are a source of Ivorian economic growth.

scholarly journals Research on the Impact of International Oil Prices on the Economy of Russia

2020 ◽  
Vol 214 ◽  
pp. 03006
Author(s):  
Jiuxia Wu
Keyword(s):  
Economic Growth ◽  
Resource Curse ◽  
Oil Prices ◽  
Oil Price ◽  
Short Term ◽  
Russian Economy ◽  
Income Determination ◽  
The Impact ◽  
The Relationship

In the process of Russian economic development, the oil industry is one of the important pillar industries. More than 50% of the total revenue of the Russian government comes from the oil and gas industry. Oil and oil products exports account for about 56.9% of Russia’s total export[1]. So Russia’s economy is inextricably linked to oil prices. Rosneft’s role in budgetary revenue sources is growing. In the development of the world economy, the change of international oil price affects the development of the Russian economy. This paper reviews the relevant theories about the relationship between oil price and Russia’s economic growth. Besides, the short-term and long-term effects of oil price fluctuation on Russian economy are analyzed with Keynes’s income determination theory and “resource Curse” theory[2] respectively. In addition, the granger causality test is used to analyze the relationship between the fluctuation of oil price and the change of Russian GDP. The following conclusions are drawn from the analysis. Firstly, oil price rise is beneficial to Russian economic growth in the short term, but will hinder Russia’s economic long-term development. Secondly, the fluctuation of oil price is the granger cause of the change of Russian GDP. However, the change of Russian GDP is not the granger cause of the fluctuation of oil price.

scholarly journals GASTO PÚBLICO Y CRECIMIENTO EN AMÉRICA LATINA: LA LEY DE WAGNER Y LA HIPÓTESIS DE KEYNES

2021 ◽  
Vol 80 (316) ◽  
pp. 109
Author(s):  
Eduardo Ramírez Cedillo ◽  
Francisco López Herrera
Keyword(s):  
Economic Growth ◽  
Latin America ◽  
Latin American ◽  
Public Spending ◽  
Short Term ◽  
The Subject ◽  
America Latina ◽  
The Relationship ◽  
Latin American Countries

<p>Se analiza la relación del crecimiento económico con el gasto público de 16 países latinoamericanos de 1990 a 2017. Este trabajo contribuye a la literatura sobre el tema enfocándose en la región. Los resultados de un modelo para paneles cointegrados respaldan la ley de Wagner en el largo plazo y brindan evidencia parcial a favor de las hipótesis de Keynes en el corto plazo.</p><p><strong> </strong></p><p align="center">PUBLIC SPENDING AND GROWTH IN LATIN AMERICA:</p><p align="center">WAGNER´S LAW AND KEYNES’S HYPOTHESIS<strong></strong></p><p align="center"><strong>ABSTRACT</strong></p><p>The relationship between economic growth and public spending in 16 Latin American countries from 1990 to 2017 is analyzed. This paper contributes to the literature on the subject focusing on the region. The results from a model of cointegrated panels support Wagner’s Law in the long term and provides partial evidence in favor of the Keynesian hypotheses in the short term.</p>

scholarly journals Relationship between Energy Consumption and Economic Growth in European Countries: Evidence from Dynamic Panel Data Analysis

Energies ◽  
2021 ◽  
Vol 14 (12) ◽  
pp. 3565
Author(s):  
Łukasz Topolewski
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Dynamic Panel Data ◽  
European Countries ◽  
Short Term ◽  
Dynamic Panel ◽  
Panel Models ◽  
Dynamic Panel Models ◽  
The Relationship

The aim of the article is to empirically verify the relationship between energy consumption and economic growth. The time scope of this study covers the period of 2008–2019. The scope of analyzed subjects covers 34 European countries, 27 of which are currently members of the European Union. European countries consume large amounts of energy, so it is worth investigating the effect of reducing energy consumption on the process of economic growth. For this purpose, dynamic panel models were used. The research methods included the use of dynamic panel models, taking into account the Arellano and Bond and Blundell and Bond estimators. The results made it possible to identify the relationship between energy consumption and economic growth. It was found that, in the short term, increases in production will result in a statistically significant increase in energy consumption. Importantly, in the long term, this impact is also statistically significant and positive. On the other hand, taking into account the second of the estimated models, it can be concluded that, in the short term, increases in energy consumption do not cause changes in the rate of economic growth. The verification of this relationship in the long term also does not confirm it. In summary, it can be stated that a one-way relationship (in the short and in the long term), directed from economic growth towards energy consumption, was identified.

scholarly journals External Debt, External Reserves, Debt Service Costs and Economic Growth: Implications for the Nigerian Transport Sector

2021 ◽  
Vol 12 (1) ◽  
pp. 182-191
Author(s):  
Osadume C. Richard ◽  
Edih University Ovuokeroye
Keyword(s):  
Economic Growth ◽  
External Debt ◽  
Negative Relationship ◽  
Debt Service ◽  
Transport Sector ◽  
Short Term ◽  
Key Sectors ◽  
The Government ◽  
The Relationship

Abstract The objective of the study presented in this article is to examine the relationship between external debt (EXDT), external reserves (EXRS), total debt service costs (TDS) and Nigeria’s economic growth (RGDP) and how these variables impact on the Nigerian transport economy employing profligacy theory. The study used secondary data for Nigeria for the period 1979 to 2019 obtained from the International Debt Office (WBG). The econometric techniques used include OLS, Granger causality and Engle-Granger cointegration at a 0.05 confidence level. The results show that EXDT has a statistically significant negative relationship with EXRS, with no statistically significant relationship existing with RGDP and TDS in the short term. All the variables showed significant cointegration over the long term, with the conclusion that the relationship between EXRS and EXDT is negatively significant in the short term, while the other variables are insignificant. The recommendations of the study include, that the government and monetary authorities should endeavour to reduce the creation of foreign debt for nonreproductive projects in key sectors due to its adverse effect on external reserves, and instead pursue aid, grants and domestic long-term loan options necessary for effective growth of the transport and other key sectors of the economy.

scholarly journals Mutual influences and trends of Global Economic Growth and Global Mergers and Acquisitions

2020 ◽  
Vol 214 ◽  
pp. 01032
Author(s):  
Shide Feng ◽  
Zhaokai Wang
Keyword(s):  
Economic Growth ◽  
Mergers And Acquisitions ◽  
Empirical Analysis ◽  
The Other ◽  
Short Term ◽  
Economic Recessions ◽  
Global Economic Growth ◽  
The Relationship

The paper is to analyze the relationship between Global Economic Growth and Global Mergers and Acquisitions. After applying empirical analysis, conclude that Global Economic Growth and Global Mergers and Acquisitions have mutual influences on each other in the long-term period. In the short-term period, the results show the same trend. But in some short certain periods like rapid economic recessions, the trend shows the other way around. The paper also analyzes the economic intuitions of the mutual influences.

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