scholarly journals Russian budget structure efficiency: Empirical study

2018 ◽  
Vol 4 (3) ◽  
pp. 197-214 ◽  
Author(s):  
Alexey Kudrin ◽  
Alexander Knobel
Keyword(s):  
Economic Growth ◽  
Positive Influence ◽  
Public Expenditures ◽  
National Defense ◽  
Fiscal Multipliers ◽  
Svar Model ◽  
Economic Growth Rates ◽  
Empirical Methodology ◽  
Enforcement Activity

This paper investigates the economic efficiency of Russian public expenditures in 2002–2016 by estimation of their multiplicative impact on the GDP level and economic growth. We use the empirical methodology based on Corsetti et al. (2012). We estimate a number of fiscal multipliers: on national security, law-enforcement activity, national defense, education, health care and sport and road infrastructure. For assessing the influence of budget structure on long-term economic growth rates, we estimate the SVAR model in which GDP growth is a structural variable. The research shows a positive influence of budgetary resources redistribution from non-productive government expenditures to productive ones on economic development.

scholarly journals Debt-Oriented Growth Efforts & the Inevitable End: The Eurozone Sovereign Debt Crisis

2016 ◽  
Vol 2 (1) ◽  
pp. 86
Author(s):  
Deniz Zungun ◽  
Emine Turkan Ayvaz Guven
Keyword(s):  
Economic Growth ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Public Expenditures ◽  
Capital Investments ◽  
Long Term Effects ◽  
Oriented Growth ◽  
Euro Zone ◽  
Economic Growth Rates

<p><em>This study tries to reveal the unsustainable long-term effects of public expenditures, which are extended based on loan between 2000 and 2015 in 18 Euro zone countries, on economic growth. The countries located in Euro zone chose a way to obtain economic growth by directly lowering taxes on foreign capital investments in the subject period. However, while they could achieve this purpose especially between 2006 and 2007, by 2008 which is subsequent to aforementioned years, they increase their countries’ debt loads and thusly public expenditures extremely. Therefore, these countries which applied austerity policies by 2010 to lower the expenses faced sharp declines of their economic growth rates when they achieved their aims. For this reason, even if Euro zone countries continue to apply various policies today, they have difficulty in redressing their macroeconomic balance because of the effects of debt crisis. Since the solution does not lie behind having a debt-growth which is aimed at increasing public expenditures; it lies behind a foreign trade-oriented growth aimed at developing the production. </em></p>

POPULATION AGING, MIDDLE-INCOME TRAP, AND ECONOMIC GROWTH: AN EMPIRICAL STUDY OF ASIAN ECONOMIES

2019 ◽  
pp. 1842009
Author(s):  
JIUN-NAN PAN ◽  
MING-LEI CHANG
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Low Income ◽  
Population Aging ◽  
Negative Influence ◽  
Positive Influence ◽  
Middle Income ◽  
Primary Finding ◽  
Middle Income Trap ◽  
Economic Growth Rates

Population aging and the middle-income trap are serious problems felt worldwide, especially in terms of their powerful influence on economic growth. In order to explore the relationships among population aging, middle-income trap, and economic growth, this study uses a panel data of 27 economies in Asia from 1995 to 2016. The primary finding of this study is that lower-middle-income economies are facing the problem of middle-income trap, indicating that the economic growth rates of lower-middle-income economies are slowing down. In addition, population aging has a statistically significant and negative influence on the growth rate of GDP in the high-income economies, but it has a statistically significant and positive influence on the growth rate of GDP in the low-income and lower-middle-income economies. This study suggests that increasing women’s labor participation, technology innovation, and immigration could solve the problems of population aging and the middle-income trap.

Analysis of variability and correlation in long-term economic growth rates

2006 ◽  
Vol 28 (5-6) ◽  
pp. 653-666 ◽  
Author(s):  
Mort Webster ◽  
Cheol-Hung Cho
Keyword(s):  
Economic Growth ◽  
Growth Rates ◽  
Economic Growth Rates

scholarly journals The Relationship between Public Expenditures and Economic Growth in Transition Economies

2020 ◽  
Author(s):  
Mustafa Batuhan Tufaner
Keyword(s):  
Economic Growth ◽  
Transition Economies ◽  
Transition Period ◽  
Unit Root Test ◽  
Public Expenditures ◽  
Cointegration Tests ◽  
Causality Tests ◽  
Using Data ◽  
The Relationship

The effect of public expenditures on economic growth gained importance, especially after the First World War. In this study, the effect of public expenditures on economic growth was analyzed using data from the 1996-2017 period for 12 Transition Economies (Azerbaijan, Belarus, Armenia, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan) in the transition period. In this context, the relationship between public expenditures and economic growth is investigated by applying unit root test, short and long term cointegration tests and causality tests. According to the results of the analysis, there is a long-term negative cointegration relationship between public expenditures and economic growth. However, there is a two-way causal relationship between public expenditures and economic growth.

scholarly journals Macroeconomic impacts of fiscal shocks on the Moroccan economy: a disaggregated SVAR analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Youssef Alami ◽  
Issam El Idrissi ◽  
Ahmed Bousselhami ◽  
Radouane Raouf ◽  
Hassane Boujettou
Keyword(s):  
Economic Growth ◽  
Interest Rates ◽  
Public Spending ◽  
Structural Shocks ◽  
Content Type ◽  
Fiscal Multipliers ◽  
The Government ◽  
The Impact ◽  
Fiscal Shocks

PurposeThe present paper aims to evaluate the structural impact of exogenously induced fiscal shocks on the Moroccan economy. This entails an analysis of the effect on the GDP of COVID-19-induced fiscal shocks manifesting in terms of budgetary revenues and expenditures. A key aspect of this analysis addresses the size of the tax and fiscal multipliers.Design/methodology/approachThe study examines the structural relationship between five variables during the period between Q1 2009 and Q2 2020 using an SVAR approach that allows for a dynamic interaction between ordinary expenditures and revenues on a quarterly basis.FindingsPositive structural shocks on public spending are likely to negatively impact economic growth. Negative economic growth, in turn, will damage price levels and interest rates, mainly over the long term. However, public-revenue-multiplier-associated shocks exceed these price- and interest-rate multiplier-associated shocks. Indeed, a structural shock to ordinary revenues can have a positive but insignificant impact on the GDP stemming from the ensuing decrease in the government budget deficit that proceeds from the increase in government revenues.Originality/valueThis is one of the first studies in the Moroccan context to assess the impact of the current worldwide pandemic on public finances. In addition, this study highlights the importance of boosting economic recovery through public spending.

scholarly journals Is the savings-led growth hypothesis valid for Zimbabwe?

2013 ◽  
Vol 10 (3) ◽  
pp. 9-13
Author(s):  
Kunofiwa Tsaurai
Keyword(s):  
Economic Growth ◽  
Positive Influence ◽  
Sustainable Growth ◽  
Gdp Per Capita ◽  
Case Study Methodology ◽  
Long Run ◽  
Domestic Savings ◽  
Study Methodology ◽  
Per Capita

This study investigates the long run relationship between economic growth and gross domestic savings for Zimbabwe during the period 1980 to 2011. The causality relationship between savings and economic growth has been a subject of extensive debate for almost half a century now. There are currently two dominant views regarding the relationship between savings and economic growth. The first view maintains that it is the growth of savings that drives economic growth. The second view argues that it is economic growth that spurs savings expansion. Using the case study methodology, the study revealed that GDP per capita had a significant positive influence on the quantity and level of gross domestic savings and not the other way round. Policies that are targeted at boosting GDP per capita should be accelerated in order to promote long-term and sustainable growth gross domestic savings for in Zimbabwe

scholarly journals The Impact of Tourism on Economic Growth: A Panel Co-integration from the Community of Portuguese-speaking Countries (CPLP)

2020 ◽  
Vol 10 (3) ◽  
pp. 281
Author(s):  
Ladson Pires Andrade ◽  
Hassane Mahamad Velonjara
Keyword(s):  
Economic Growth ◽  
Foreign Currency ◽  
Great Influence ◽  
Positive Influence ◽  
Local Economy ◽  
Policy Recommendations ◽  
Integration Technique ◽  
Left Behind ◽  
The Impact

This article aims to examine the impact of tourism on economic growth, a panel co-integration from a community of Portuguese-speaking countries (CPLP). Being one of the leading sectors for economic development for most of the transaction economies, which helps bring down the unemployment rate, bring more foreign currency into the local economy, etc. Thus, most of the leaders want to design the best policies as possible to boost this sector. Therefore, the CPLP countries are not left behind when coming to an incentive more and more tourism. This work employs a Fully modified ordinary least squared (FMOLS) and dynamic ordinary least squared (DOLS) and a co-integration technique to test whether there’s a long-term association between expenditure on tourism and growth from 2000 to 2016. The FMOLS and DOLS outcomes show that travelers’ spending exerts a great influence on development for these nations and it causes the long-running association between tourism to growth, which provides that tourism exerts a positive influence on GDP. We conclude this article with some policy recommendations.

scholarly journals The Relationship Between Education Outputs, Education Expenditure, and Economic Growth in Saudi Arabia

2021 ◽  
Vol 12 (2) ◽  
pp. 320
Author(s):  
Benlaria Houcine ◽  
Messen Kerroumia ◽  
Emad Abdel Khalek Saber El-Tahan ◽  
Tarig Osman Abdallah Helal
Keyword(s):  
Economic Growth ◽  
Saudi Arabia ◽  
Gdp Per Capita ◽  
Education Expenditure ◽  
Distributed Lag ◽  
Long Run ◽  
Per Capita ◽  
Economic Growth Rates ◽  
The Relationship

The present study investigated the relationship between education outputs, Education expenditure, and economic growth in Saudi Arabia for the time period of 1986–2016. The results obtained after employing the Autoregressive Distributed Lag (ARDL) model revealed a long-term relationship between the studied variables, an inverse relationship between the number of graduates and growth in the long term, whereas a non-significant positive relationship appeared in the short -term. Findings indicate also that public spending in education has a positive and significant impact on economic growth in the long run. Furthermore, he observed that a 1% increase in public expenditure in education contributes 18% increase in GDP per capita in the long run. This is in line with economic theory and previous research showing that expenditure on education leads to a rise in GDP per capita and economic growth rates. The recommendations of this study are fundamental to the Kingdom of Saudi Arabia.

scholarly journals Grandparents and the transmission of the faith and Christian lifestyle

2020 ◽  
Vol 16 (2(28)) ◽  
pp. 9-26
Author(s):  
LADISLAV CSONTOS
Keyword(s):  
Economic Growth ◽  
Nuclear Family ◽  
Typical Feature ◽  
Positive Influence ◽  
The Past ◽  
Intergenerational Continuity ◽  
Living Area ◽  
The Way

In the past the multigenerational housing was a necessity due to economic reasons. Young families were only gradually acquiring the means enabling them to become independent of their parents. Overall economic growth and progressive urbanisation have made it possible for young families to gain their independence much more quickly. However, from the perspective of the transmission of faith and Christian lifestyle, this development has broken the natural intergenerational continuity. Young families are often unable to transform the way they live their faith into an adequate lifestyle which used to be transmitted from generation to generation as a matter of course. The surveys on religiosity in Slovakia show the positive influence of grandparents on the transmission of faith. The most important persons in this area are mothers and grandmothers, while fathers and grandfathers' typical feature is their long-term nonparticipation in this process. Recently, we can observe a trend towards the renewal of multigenerational housing with a larger living area linking the autonomy of a nuclear family with its proximity to grandparents. Provided that both sides comply with mutually agreed rules regulating their coexistence and the use of common areas, such housing can be enriching for each of them.

scholarly journals Analysis of the Key Factors of Growth of the Russian Economy in the Context of Negative External Economic Conditions

2020 ◽  
pp. 181-194
Author(s):  
Evgeny A. Vasyukov
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Growth Rates ◽  
Key Factors ◽  
Monetary Policies ◽  
Market Participants ◽  
Russian Economy ◽  
The Face ◽  
Economic Growth Rates

In the context of a slowdown in global growth rates and under unfavorable foreign policy conditions, special attention should be paid to protective measures to stabilize the growth of the country's GDP. It was noted that not only the measures applied by the Central Bank, but also the level of communication with financial market participants have a significant impact on the formation of long-term expectations. It is shown that these factors significantly affect international capital flows and, as a result, the Russian economy. The conclusion is made about the need to stimulate domestic sources of economic growth in the context of international economic turbulence, the need to introduce a comprehensive package of measures using elements of both fiscal and monetary policies. The methodological basis of this study is the principles of a systematic comparative analysis of the interaction of market forces. The novelty consists in a comprehensive assessment of the state of sources of growth of the Russian economy in 2017-2018. in conditions of instability in the financial and economic sphere, and in identifying non-obvious factors that have a significant impact on economic growth rates. The main provisions, practical conclusions can be used to develop and implement monetary policy in the face of negative expectations from investors with the subsequent tightening of US monetary policy.

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