scholarly journals Determinants of Rice Import Demand in Nigeria

2020 ◽  
Vol 24 (5) ◽  
pp. 923-931
Author(s):  
W.A. Yusuf ◽  
S.A. Yusuf ◽  
A.A.A. Adesope ◽  
O.Z. Adebayo
Keyword(s):  
Exchange Rate ◽  
Error Correction ◽  
Capita Income ◽  
Import Price ◽  
Import Demand ◽  
Per Capita Income ◽  
Long Run ◽  
Short Run ◽  
Rice Consumption ◽  
Per Capita

Primarily, the study examined the determinants of rice import demand in Nigeria by assessing the short run and long run dynamic model  relationships among the determinants, trends and extent of causality among per capita income, population, exchange rate and price of rice imports were equally examined, using data obtained from the Central Bank of Nigeria (CBN) and National Bureau of statistics (NBS) over the period 1961 to 2013. Data obtained showed the perceived determinants of imports demand for rice in Nigeria were local rice production, rice import price, rice consumption, per capita income, and exchange rate, price of local rice, domestic stock variation, maize price, meat price and demographic  development. The short run dynamic model result showed that rice consumption, price of meat, price of maize, local rice quantity, demography development and stock variance are statistically significant at 5%. The significance of the coefficient of the error correction term confirmed theappropriateness of the error correction approach which also showed that ignoring the long run relationship is detrimental. The result however, revealed that rice import demand increases significantly with increasing rice consumption, increasing price of meat, increasing price of maize (keeping that for imported rice unchanged) and increasing demography development. Rice import price, per capita income, price of local rice and exchange rate had no significant effects on rice import demand. The study therefore recommends that locally-produced rice should be intensively improved. Keywords: demography, determinants, Error correction mechanism, rice import demand

NON-LINEAR EFFECTS OF TERRORISM ON ECONOMIC GROWTH IN PAKISTAN: ACCOUNTING FOR CAPITAL PER WORKER AND STRUCTURAL BREAKS

2019 ◽  
pp. 1950014
Author(s):  
RONALD RAVINESH Kumar ◽  
SYED JAWAD HUSSAIN SHAHZAD ◽  
PETER JOSEF STAUVERMANN ◽  
NIKEEL Kumar
Keyword(s):  
Economic Growth ◽  
Capita Income ◽  
Structural Breaks ◽  
Per Capita Income ◽  
Negative Effects ◽  
Capital Share ◽  
Long Run ◽  
Non Linear ◽  
Short Run ◽  
Per Capita

In this study, we examine the asymmetric effects of terrorism and economic growth in Pakistan over the period 1970–2016, while considering the role of capital per worker and structural breaks. We use the non-linear ARDL approach to establish the long-run association and to estimate the short-run and long-run effects accordingly. The results indicate the presence of asymmetries in both long and short run. Moreover, 1% decrease in terrorism results in an increase of per capita income by 0.02% in the long run and 0.001% in the short run. Assuming symmetry, the long run capital share is 0.47. In asymmetric relation, a 1% increase in capital share increases output by 0.55%, whereas a 1% decrease in capital stock decreases output by 0.26%. The break effects show that the years 1993 and 2004 have negative effects on growth. The vector error correction model-based causality results indicate a unidirectional causality from terrorism to per capita income. Overall, the results highlight that terrorism is growth retarding.

scholarly journals Vocational Education, Per Capita Income, and Employment in the US

2017 ◽  
Vol 7 (2) ◽  
pp. 392
Author(s):  
Eric Im Posthumous ◽  
Tam Vu
Keyword(s):  
Vocational Education ◽  
Capita Income ◽  
College Graduates ◽  
University Education ◽  
Per Capita Income ◽  
Long Run ◽  
The Us ◽  
Short Run ◽  
Per Capita ◽  
Using Data

This paper examines the effects of vocational education on per capita income and employment in the U.S. A panel dataset on the number of graduates from community colleges as a proxy for vocational education for fifty states and Washington D.C. during 2002-2010 is used. The method of three stage least squares was employed. The results show that vocational education appears to affect changes in per capita income and employment positively. Nest, we compare and contrast vocational education with university education by using data on the number of four-year college graduates. The results show that the vocational education increases per capita income and employment more than university education in the short run but less than the latter in the long run.

scholarly journals Determinants of National Saving in Four West African Countries

2018 ◽  
Vol 10 (5) ◽  
pp. 67 ◽  
Author(s):  
Ignatius Abasimi ◽  
Agbassou Y. A. Martin
Keyword(s):  
Gross Domestic Product ◽  
Capita Income ◽  
West African ◽  
Domestic Product ◽  
Per Capita Income ◽  
African Countries ◽  
Long Run ◽  
Short Run ◽  
Per Capita ◽  
Adf Test

Saving is one of the preeminent integral of economic growth. The desideratum of this study is to investigate the determinants of national saving in four West African countries, namely, Ghana, Togo, Burkina Faso, and Cote d’ Ivoire. The study uses annual data from the World Bank database for the period 1997-2016. The Augmented Dickey-Fuller (ADF) test, Cumulative sum of residuals (CUSUM) test, and autoregressive distributed lag (ARDL) bounds test were used to examine the stationarity, stability, and cointegration of the variables respectively. ARDF model analysis was carried out to determine the short run and long run determinants of national saving in the studied countries. The long run results reveal that gross domestic product, per capita income and real interest rate has a statistically and significant positive effect on gross savings, were as age dependency ratio has a statistical, and insignificant negative relationship with gross saving. The short run results suggest that gross domestic product and per capita income possesses positive statistical significant effects on gross national savings.It is recommended that, in other to promote saving, growth and development, pragmatic and realistic economic policies should be formulated to strengthen all monetary and financial institutions in the respective countries.

scholarly journals Interplays among R&D spending, patent and income growth: new empirical evidence from the panel of countries and groups

2020 ◽  
Vol 9 (1) ◽  
Author(s):  
Ramesh Chandra Das
Keyword(s):  
Research And Development ◽  
Capita Income ◽  
Social Cost ◽  
Income Growth ◽  
Var Model ◽  
Per Capita Income ◽  
Long Run ◽  
Short Run ◽  
Per Capita ◽  
Capita Income Growth

Abstract Industrial houses and governments of different countries and groups spend a sizeable amount of their earnings upon research and development activities to create new products and obtain patents for them. The short-run motive is to get patents, and the long-run motive is to influence income growth of the countries. The empirical findings so far are skeptical on the effects of research and development (R&D) spending. The present study further investigates the long-run associations and short-run dynamics among R&D spending, number of patents and per capita income growth in the panel of countries and groups for the period 1996–2017. Using VAR model for the panel data, the study observes that R&D spending, number of patents and per capita income growth have no long-run equilibrium relations but in the short-run, income growth and number of patents make a cause to R&D spending. However, there are weak causation from patents and R&D spending to income growth rates. The study thus recommends for controlling unfair competition on spending on R&D head and getting patents since it increases the magnitudes of social cost.

scholarly journals Foreign Direct Investment - Growth Nexus: The Case of Nigeria

2017 ◽  
Vol 13 (1) ◽  
pp. 304 ◽  
Author(s):  
Adamu Jibir ◽  
Musa Abdu
Keyword(s):  
Economic Growth ◽  
Capita Income ◽  
Trade Openness ◽  
Wald Test ◽  
Business Environment ◽  
Economic Benefits ◽  
Per Capita Income ◽  
Long Run ◽  
Short Run ◽  
Per Capita

The quest by developing countries for increased FDI stems from the assumption that FDI leads to economic benefits within the host country. The study examined the paradigm ‘FDI led growth’ using dataset for Nigeria obtained from Central Bank of Nigeria span between 1970 and 2014. Modern econometric tools of Vector error correction model and Granger Wald test were employed. The econometric analysis reveals that there is steady long run relationship between FDI and output in Nigeria. Additionally, the causality result indicates that there is unidirectional causality between trade openness and per capita income, running from trade openness to per capita income proxy for economic growth. On the other hand, there is absence of short-run causality between FDI and economic growth in Nigeria. The policy implication is that FDI can be considered as an engine of growth and development. In the case of Nigeria, FDI can be used as a tool for structuring the economy and achieving inclusive growth. This can be done by attracting more FDI through creating conducive business environment, development of infrastructures and strengthening security especially in north-eastern part of the country.

scholarly journals The dynamic effect of exchange-rate volatility on Turkish exports: Parsimonious error-correction model approach

2015 ◽  
Vol 62 (4) ◽  
pp. 429-451 ◽  
Author(s):  
Erdal Demirhan ◽  
Banu Demirhan
Keyword(s):  
Exchange Rate ◽  
Error Correction ◽  
Exchange Rate Volatility ◽  
Dynamic Effect ◽  
Error Correction Model ◽  
Impulse Response Functions ◽  
Correction Model ◽  
Long Run ◽  
Export Volume ◽  
Short Run

This paper aims to investigate the effect of exchange-rate stability on real export volume in Turkey, using monthly data for the period February 2001 to January 2010. The Johansen multivariate cointegration method and the parsimonious error-correction model are applied to determine long-run and short-run relationships between real export volume and its determinants. In this study, the conditional variance of the GARCH (1, 1) model is taken as a proxy for exchange-rate stability, and generalized impulse-response functions and variance-decomposition analyses are applied to analyze the dynamic effects of variables on real export volume. The empirical findings suggest that exchangerate stability has a significant positive effect on real export volume, both in the short and the long run.

scholarly journals Effects of Exchange Rate and Inflation Rate on Stock Market Returns Volatility in India.

2020 ◽  
Author(s):  
Nenavath Sre ◽  
Suresh Naik
Keyword(s):  
Exchange Rate ◽  
Stock Market ◽  
Error Correction ◽  
Inflation Rate ◽  
Market Returns ◽  
Stock Market Returns ◽  
Positive Effects ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run

Abstract The paper investigates the effect of exchange and inflation rate on stock market returns in India. The study uses monthly, quarterly and annual inflation and exchange rate data obtained from the RBI and market returns computed from the Indian share market index from January, 2000 to June, 2020.The paper uses the autoregressive distributed lag (ARDL) co-integration technique and the error correction parametization of the ARDL model for investigating the effect on Indian Stock markets. The GARCH and its corresponding Error Correction Model (ECM) were used to explore the long- and short-run relationship between the India Stock market returns, inflation, and exchange rate. The paper shows that there exists a long term relationship but there is no short-run relationship between Indian market returns and inflation. But, there is periodicity of inflation monthly considerable long run and short-run relationship between them existed. The outcome also illustrates a significant short-run relationship between NSE market returns and exchange rate. The variables were tested for short run and it was significantly shown the positive effects on the stock market returns and making it a desirable attribute of which investors can take advantage of. This is due to the establishment of long-run effect of inflation and exchange rate on stock market returns.

Film Production And Economic Performance: Should South Africa Invest In Movies?

2021 ◽  
Vol 4 (2) ◽  
pp. 125-144
Author(s):  
Andrew Phiri ◽  
Keyword(s):  
Foreign Direct Investment ◽  
Economic Performance ◽  
Government Spending ◽  
Capita Income ◽  
Direct Investment ◽  
Film Production ◽  
Domestic Investment ◽  
Per Capita Income ◽  
Long Run ◽  
Per Capita

The movie industry is increasingly recognised as a possible avenue for improving economic performance. This study focuses on film production and its influence on South African economic growth (per capita income and employment between 1970 and 2020). Our autoregressive lag distributive (ARDL) estimates on a loglinearised endogenous growth model augmented with creative capital indicate that the production of movies has no significant effects on long-run GDP growth, per capita GDP and employment. The baseline regressions find a short-run positive and significant influence of film production on per capita income and are devoid of long-run effects. However, re-estimating the regressions with interactive terms between movie production and i) government spending ii) foreign direct investment, improve the significance of film regression coefficients which all turn positive and significant, for government spending, and negative for foreign direct investment. Our results indicate that foreign investment crowds out domestic investment whilst government investment in movies is growth-enhancing.

Linkages Between Employment and Net FDI Inflow: Insights from Individual as Well as Panel Data for Emerging South Asian Labour Market

2020 ◽  
pp. 097215091987350
Author(s):  
Ramesh Chandra Das ◽  
Kamal Ray
Keyword(s):  
Panel Data ◽  
Error Correction ◽  
Labour Market ◽  
South Asian ◽  
Wald Test ◽  
Individual Country ◽  
Employment Level ◽  
Long Run ◽  
Short Run ◽  
Per Capita

In emerging labour market, particularly, the direct and indirect association between employment level and foreign direct investment (FDI) in a dynamic economy is non-deniable. Like private and public investments, FDI promotes employment generating agenda and at the same time, sound employment scenario of an economy attracts FDI to inflow. Under this backdrop, the present study attempts to examine whether employment and net FDI inflow have long-run associations and short-run dynamics in South Asian economies for the period 1991–2016. Applying cointegration and Granger causality tests for individual country level and panel cointegration, vector error correction and Wald test on the two standardized variables—employment–population ratio and per capita net FDI inflow—reveal that the two indicators have cointegrating relations for Bangladesh and Nepal and FDI makes a cause to employment generation in Bangladesh only. Further, the panel data exercise shows the existence of long-run or equilibrium relations linking the two indicators without significant error correction results. The Wald test results show that there is short-run causality working from employment ratio to per capita FDI and vice versa. The study, thus, prescribes for ensuring quality environment in the concerned domestic economies of the region so that employment opportunities invite FDI inflow to their territories.

An empirical note on entrepreneurship and unemployment

2016 ◽  
Vol 5 (1) ◽  
pp. 73-81 ◽  
Author(s):  
Nicholas Apergis ◽  
James E Payne
Keyword(s):  
Error Correction ◽  
Panel Cointegration ◽  
Personal Income ◽  
Entrepreneurial Activity ◽  
Cross Sectional ◽  
Content Type ◽  
Long Run ◽  
Short Run ◽  
Per Capita ◽  
Capita Personal Income

Purpose – The purpose of this paper is to extend the existing literature on the causal dynamics between entrepreneurship and the unemployment rate (UR) in the use of the Kauffman Foundation index of entrepreneurial activity. Design/methodology/approach – Recently developed panel unit root tests with recognition of cross-sectional dependence and panel cointegration/error correction modeling techniques are applied to US States. Findings – The results indicate that the rate of entrepreneurship, the UR, and real per capita personal income are cointegrated. The panel error correction model reveals that bidirectional causality exists among the variables in both the short run and long run. With respect to entrepreneurship, an increase in the UR increases the rate of entrepreneurship, in turn, an increase in the rate of entrepreneurship lowers the UR. Moreover, the results also show a positive bidirectional relationship between the rate of entrepreneurship and real per capita personal income. Originality/value – Unlike other standard measures of entrepreneurship, this is the first empirical study of the causal dynamics between entrepreneurship and the UR using the Kauffman Foundation index of entrepreneurial activity.

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