scholarly journals International Tourism and Economic Growth: Empirical Evidence from BRICS Countries

2021 ◽  
Vol 10 (10(6)) ◽  
pp. 1944-1958
Author(s):  
PK Mishra ◽  
Himanshu B. Rout ◽  
Debasis Sahoo
Keyword(s):  
Economic Growth ◽  
Human Development ◽  
Positive Impact ◽  
Capital Formation ◽  
Infrastructure Development ◽  
Brics Countries ◽  
Long Run ◽  
Tourism Sector ◽  
Investment Opportunities ◽  
Model Approach

The aim of the study was to examine the tourism-growth nexus in the context of BRICS nations. For this purpose, the augmented neo-classical growth framework has been employed a panel data model approach over the sample period spanning from 1995 to 2019. The estimation was conducted using PMG based ARDL regression. The results lend support to the tourism-led growth hypothesis when the capital formation and human development exert a positive impact on the long-run real economic growth in BRICS economies. So, the policies meant for tourism sector development can contribute to long-run economic growth through an increase in the share of gross capital formation in the gross domestic product and with the help of improved human development. Therefore, the policy focus should be on infrastructure development, the promotion of investment opportunities, and the development of healthcare and education in BRICS countries. The use of a macroeconomic framework in the analysis is the novelty of this study.

Electric Power Transmission, Distribution Losses, and Economic Growth in Ghana

2020 ◽  
pp. 450-467
Author(s):  
Samuel Adams ◽  
Edem Kwame Mensah Klobodu ◽  
Richmond Odartey Lamptey
Keyword(s):  
Economic Growth ◽  
Electric Power ◽  
Power Transmission ◽  
Positive Impact ◽  
Trade Openness ◽  
Ordinary Least Squares ◽  
Capital Formation ◽  
Bounds Testing ◽  
Long Run ◽  
Negative Effect

This study examined the effect of electric power transmission and distribution losses (ETL) on economic growth over the period of 1971 to 2012 in Ghana. Using bounds testing approach to cointegration and Bai-Perron test in ordinary least squares framework, we find long-run relationship between ETL, gross capital formation, inflation, trade openness and economic growth. Secondly, while ETL do not have robust impact on economic growth, trade openness exerts a positive impact on economic growth in the long-run. Inflation and gross capital formation, however, have mixed relationships with economic growth. Furthermore, ETL yield a threshold value of 2.07. Finally, controlling for the urban population reveals that ETL moderates the relationship between urbanization and economic growth; higher ETL associates with an increasing negative effect on GDP per capita.

scholarly journals SMEs and Economic Growth in Nigeria: An Autoregressive Distributed Lag Approach

2015 ◽  
Vol 3 (2) ◽  
pp. 1-16
Author(s):  
Ishola Wasiu Oyeniran ◽  
Oladipo Olalekan David ◽  
Oluseyi Ajayi
Keyword(s):  
Economic Growth ◽  
Small Businesses ◽  
Socioeconomic Development ◽  
Positive Impact ◽  
Small And Medium Enterprises ◽  
Infrastructure Development ◽  
Access To Credit ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run

This empirical study adopts an autoregressive distributed lag approach in order to examine how small and medium enterprises (SMEs) have contributed to economic growth in Nigeria between 1981 and 2013. We find that investment in SMEs has had a significant and positive impact on economic growth in the country. Given that Nigeria is economically underdeveloped, it is essential that the majority of its (largely rural) population be integrated into the process of economic development through entrepreneurship in small businesses. This means encouraging further investment in SMEs and prioritizing their access to credit facilities, infrastructure development, and capacity building to promote long-run socioeconomic development through this medium.

scholarly journals DO ECONOMIC GROWTH AND ENVIRONMENT QUALITY CONTRIBUTE TO TOURISM DEVELOPMENT IN EU COUNTRIES? A PANEL DATA ANALYSIS

2021 ◽  
Vol 27 (6) ◽  
pp. 1509-1538
Author(s):  
Daniel Badulescu ◽  
Ramona Simut ◽  
Ioana Mester ◽  
Simona Dzitac ◽  
Mariana Sehleanu ◽  
...  
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Panel Data ◽  
Co2 Emissions ◽  
Positive Impact ◽  
Panel Data Analysis ◽  
Tourism Development ◽  
Tourism Industry ◽  
Long Run ◽  
Tourism Sector

The positive impact of the tourism industry on economic growth, revenues, infrastructure, employment, social inclusion and poverty reduction, although widely recognised, has been lately weighted against the appearance and exacerbation of several problems, such as: environmental footprint, increase of income inequality, cost increases related to solid waste collection, energy consumption, increased global CO2 emissions. On the other hand, the tourism sector is not just an active economic, societal, or environmental change agent; in turn, the tourism sector supports or is highly influenced by various factors, such as climate change, economic, political, or social factors. More recently, this industry has been highly impacted by the pandemic, technological developments and cultural trends. In this article we examined both the short and long-run relationship between tourism development and economic growth, CO2 emissions and energy consumption in European Union member states (EU27), by using the Principal Component Analysis (PCA) technique and autoregressive distributed lag (ARDL) model for panel data. The findings suggest that economic growth and energy consumption have a statistically significant impact on the tourism index both in the short and long-run, whereas CO2 emissions only have a significant impact upon the tourism index on the long run.

scholarly journals The Impact of Infrastructure Spending on Economic Growth: A Case Study of Indonesia

2021 ◽  
Vol 23 (3) ◽  
pp. A184-A192
Author(s):  
Makmun Syadullah ◽  
Dhani Setyawan
Keyword(s):  
Economic Growth ◽  
Positive Impact ◽  
Panel Data Analysis ◽  
Data Availability ◽  
Infrastructure Investment ◽  
Infrastructure Development ◽  
Government Investment ◽  
Long Run ◽  
The Impact ◽  
Irrigation Infrastructure

This paper aims to analyze the impact of infrastructure spending on economic growth in Indonesia, which includes investment in road, port and irrigation infrastructure. The period of observation was 2011-2018, which covered 29 provinces with consideration of data availability. This study employed the growth model with a panel data analysis, which analyze the relationship between the economic growth and government investment in infrastructure in the long run. The most essential finding in this study is that the economic growth is positively influenced by government investment in road, port and irrigation infrastructure. Road infrastructure investment has a significant positive impact and the effect occurs in the fourth year after infrastructure development. In comparison, port and irrigation infrastructure investment have a positive but not significant impact to other variables.

Electric Power Transmission, Distribution Losses, and Economic Growth in Ghana

2017 ◽  
pp. 216-233
Author(s):  
Samuel Adams ◽  
Edem Kwame Mensah Klobodu ◽  
Richmond Odartey Lamptey
Keyword(s):  
Economic Growth ◽  
Electric Power ◽  
Power Transmission ◽  
Positive Impact ◽  
Trade Openness ◽  
Ordinary Least Squares ◽  
Capital Formation ◽  
Bounds Testing ◽  
Long Run ◽  
Negative Effect

This study examined the effect of electric power transmission and distribution losses (ETL) on economic growth over the period of 1971 to 2012 in Ghana. Using bounds testing approach to cointegration and Bai-Perron test in ordinary least squares framework, we find long-run relationship between ETL, gross capital formation, inflation, trade openness and economic growth. Secondly, while ETL do not have robust impact on economic growth, trade openness exerts a positive impact on economic growth in the long-run. Inflation and gross capital formation, however, have mixed relationships with economic growth. Furthermore, ETL yield a threshold value of 2.07. Finally, controlling for the urban population reveals that ETL moderates the relationship between urbanization and economic growth; higher ETL associates with an increasing negative effect on GDP per capita.

Fish Exports and Economic Growth: The Pakistan’s Experience

2019 ◽  
Vol 20 (2) ◽  
pp. 279-296 ◽  
Author(s):  
Syed Tehseen Jawaid ◽  
Mohammad Haris Siddiqui ◽  
Zeeshan Atiq ◽  
Usman Azhar
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Positive Impact ◽  
Impulse Response Function ◽  
Policy Implications ◽  
Sensitivity Analyses ◽  
Series Data ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run

This study attempts to explore first time ever the relationship between fish exports and economic growth of Pakistan by employing annual time series data for the period 1974–2013. Autoregressive distributed lag and Johansen and Juselius cointegration results confirm the existence of a positive long-run relationship among the variables. Further, the error correction model reveals that no immediate or short-run relationship exists between fish exports and economic growth. Different sensitivity analyses indicate that initial results are robust. Rolling window analysis has been applied to identify the yearly behaviour of fish exports, and it remains negative from 1979 to 1982, 1984 to 1988, 1993 to 1999, 2004 and from 2010 to 2013, and it shows positive impact from 1989 to 1992, 2000 to 2003 and from 2005 to 2009. Furthermore, the variance decomposition method and impulse response function suggest the bidirectional causal relationship between fish exports and economic growth. The findings are beneficial for policymakers in the area of export planning. This study also provides some policy implications in the final section.

Relationship between Budget Deficit and Economic Growth: Evidence from Ethiopia

2021 ◽  
Vol 2 (2) ◽  
pp. 10-15
Author(s):  
Desalegn Emana
Keyword(s):  
Economic Growth ◽  
Interest Rates ◽  
Budget Deficit ◽  
Time Series Data ◽  
Negative Impact ◽  
Positive Impact ◽  
Negative Relationship ◽  
Nominal Exchange Rate ◽  
Series Data ◽  
Long Run

This study examined the relationship between budget deficit and economic growth in Ethiopia using time series data for the period 1991 to 2019 by applying the ARDL bounds testing approach. The empirical results indicate that budget deficit and economic growth in Ethiopia have a negative relationship in the long run, and have a weak positive association in the short run. In line with this, in the long run, a one percent increase in the budget deficit causes a 1.43 percent decline in the economic growth of the country. This result is consistent with the neoclassical view which says budget deficits are bad for economic growth during stimulating periods. Moreover, in the long run, the variables trade openness and inflation have a positive impact on Ethiopian economic growth, and on the other hand, the economic growth of Ethiopia is negatively affected by the nominal exchange rate in the long run. Apart from this, in the long run, gross capital formation and lending interest rates have no significant impact on the economic growth of the country. Therefore, the study recommends the government should manage its expenditure and mobilize the resources to generate more revenue to address the negative impact of the budget deficit on economic growth.

Brazil and Russia: Different Trajectories of Development?

2012 ◽  
pp. 92-104
Author(s):  
G. Irishin
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Social Development ◽  
Brics Countries ◽  
Long Run ◽  
Main Emphasis ◽  
The World

This publication represents the materials of the regular academic seminar “The current problems of development” conducted by the Center of the problems of development and modernization within IMEMO. The attention of the key speakers and other seminar participants is focused on the comparison of the two BRICS countries – Brazil and Russia. The main emphasis is made on the analysis of the trends of social development. The point is that the quality of human capital determines the quality of economic growth, as well as the country's place in the world in the long run.

scholarly journals The Causality between Education and GDP Growth in Asian Countries

2015 ◽  
Vol 50 ◽  
pp. 28-35 ◽  
Author(s):  
Mohsen Mehrara ◽  
Maysam Musai
Keyword(s):  
Economic Growth ◽  
Formal Education ◽  
Panel Cointegration ◽  
Capital Formation ◽  
Cointegration Analysis ◽  
Point Of View ◽  
Asian Countries ◽  
Variable Model ◽  
Long Run ◽  
Educational Investments

This paper investigates the causal relationship between education and GDP in 40 Asian countries by using panel unit root tests and panel cointegration analysis for the period 1970-2010. A three-variable model is formulated with capital formation as the third variable. The results show a strong causality from investment and economic growth to education in these countries. Yet, education does not have any significant effects on GDP and investment in short- and long-run. It means that it is the capital formation and GDP that drives education in mentioned countries, not vice versa. So the findings of this paper support the point of view that it is higher economic growth that leads to higher education proxy. It seems that as the number of enrollments raise, the quality of the education declines. Moreover, the formal education systems are not market oriented in these countries. This may be the reason why huge educational investments in these developing countries fail to generate higher growth. By promoting practice-oriented training for students particularly in technical disciplines and matching education system to the needs of the labor market, it will help create long-term jobs and improve the country’s future prospects.

scholarly journals ANALISIS PENGARUH REMITANSI, INVESTASI ASING LANGSUNG, IMPOR DAN PERTUMBUHAN EKONOMI DI INDONESIA

2020 ◽  
Vol 2 (4) ◽  
Author(s):  
Regina Septriani Putri ◽  
Ariusni Ariusni
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
Time Series Data ◽  
Positive Impact ◽  
Series Data ◽  
Long Run ◽  
Short Run ◽  
The Government ◽  
Positive Effect

Abstract : This study examined and analysis the effect of remittances, foreigndirect investment, imports, and economic growth in Indonesia in the long run andshort run. This study using Error Correction Model (ECM) method and using theannual time series data from 1989 to 2018. This study found that: (1) remittancehave an insignificant positive effect on economic growth in the long run and shortrun,(2)foreign direct investment have a significant positive impact on economicgrowth in the long run and short run, (3) import have an insignificant positiveimpact on economic growth both in the long run and short run. To increase theeconomic growth in the future, this study suggests the government to decresingimports of consume goods and increasing the inflow of capital goods, rawmaterial goods, remittances and foreign direct investment.Keyword : Remittance, Foreign Direct Investment, Import, Economic Growth andECM

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