scholarly journals Productivity Dynamics: A Case of Pakistan

2021 ◽  
Vol 7 (2) ◽  
pp. 187-203
Author(s):  
Muhammad Nadeem Javaid ◽  
Gulzar Ahmed
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Returns To Scale ◽  
High Growth ◽  
Data Set ◽  
Services Sector ◽  
Agriculture Industry ◽  
Percent Contribution ◽  
Productivity Dynamics ◽  
Constant Returns To Scale

This study estimates the total factor productivity (TFP) for Pakistan at aggregate and sectoral level from 1982 to 2016 with a data set rebased at 2005-06. We employ actual returns to scale instead of the oversimplified assumption of constant returns to scale for measuring the TFP. Our results show that average economic growth during this period is 4.7 percent with 0.7 percent contribution from TFP. While, average TFP growth for Agriculture, Industry, and Services sector is 1.5, 4.6, and 4.3 percent, respectively. Besides, there is a noticeable decreasing trend in TFP as well as economic growth relative to 1980’s. Further, our analysis reveals that the physical and human capital contribution in productivity is quite negligible at aggregate and sectoral level. This implies that sizeable investments in human capital formation can further help the economy to attain high growth trajectory in the short to medium terms.

scholarly journals The Impact Of Education On Economic Growth: The Case Of Mauritius

2010 ◽  
Vol 9 (8) ◽  
Author(s):  
Mohun P. Odit ◽  
K. Dookhan ◽  
S. Fauzel
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Labour Force ◽  
Returns To Scale ◽  
Output Level ◽  
Data Set ◽  
Central Statistical ◽  
Central Statistical Office ◽  
The Impact ◽  
Constant Returns To Scale

This paper focuses on the impact of investment in education on economic growth in Mauritius. It is an attempt to explore the extent to which education level of the Mauritian labour force affects its economic growth that is its output level. We have used the Cobb-Douglas production function with constant returns to scale where human capital is treated as an independent factor of production in the human capital augmented growth model. We expect to contribute to the existing literature by bringing evidence from a data set for the period 1990 to 2006 obtained from the central statistical office and Bank of Mauritius reports. The results reveal that human capital plays an important role in economic growth mainly as an engine for improvement of the output level. There is compelling evidence that human capital increases productivity, suggesting that education really is productivity-enhancing rather than just a device that individuals use to signal their level of ability to the employer.

Financial development, human capital and its impact on economic growth of emerging countries

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Aaqib Sarwar ◽  
Muhammad Asif Khan ◽  
Zahid Sarwar ◽  
Wajid Khan
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Financial Development ◽  
Emerging Economies ◽  
Generalized Method Of Moments ◽  
Emerging Countries ◽  
Data Set ◽  
Content Type ◽  
The World ◽  
The Impact

Purpose This paper aims to investigate the critical aspect of financial development, human capital and their interactive term on economic growth from the perspective of emerging economies. Design/methodology/approach Data set ranged from 2002 to 2017 of 83 emerging countries used in this research and collected from world development indicators of the World Bank. The two-step system generalized method of moments is used to conduct this research within the endogenous growth model while controlling time and country-specific effects. Findings The findings of the study indicate that financial development has a positive and significant effect on economic growth. In emerging countries, human capital also has a positive impact on economic growth. Financial development and human capital interactively affect economic growth for emerging economies positively and significantly. Research limitations/implications The data set is limited to 83 emerging countries of the world. The time period for the study is 2002 to 2017. Originality/value This research contributes to the existing literature on human capital, financial development and economic growth. Limited research has been conducted on the impact of financial development and human capital on economic growth.

scholarly journals CATCH ME IF YOU LEARN: DEVELOPMENT-SPECIFIC EDUCATION AND ECONOMIC GROWTH

2016 ◽  
Vol 22 (6) ◽  
pp. 1652-1694 ◽  
Author(s):  
Fabio Cerina ◽  
Fabio Manca
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Returns To Scale ◽  
Growth Effect ◽  
Skilled Workers ◽  
Poor Countries ◽  
Plausible Model ◽  
Generalized Methods Of Moments ◽  
Methods Of Moments ◽  
The Relationship

This paper presents a theoretical and empirical investigation of the relationship between human capital composition and economic growth. In the theoretical analysis, we allow for nonconstant returns to scale in technological activities. Differently from previous literature, our results show that, under broad and plausible model parameterizations, the marginal growth effect of skilled workers is increasing with the distance to the frontier for sufficiently poor countries while it is decreasing (in agreement with the existing literature) only for countries close to the technological frontier. Our empirical analysis provides robust evidence for this theoretical prediction by using a 10-year panel of 85 countries for the years in between 1960 and 2000, as well as by using the System Generalized Methods of Moments (GMM) technique to address the problem of endogeneity. Results are robust to different proxies of human capital and different specifications.

scholarly journals Efficiency Analysis with non parametric method: Illustration of the Tunisian ports

2018 ◽  
Vol 9 (1) ◽  
pp. 51-58
Author(s):  
Arbia Hlali
Keyword(s):  
Panel Data ◽  
Technical Efficiency ◽  
Parametric Method ◽  
Returns To Scale ◽  
Efficiency Analysis ◽  
Data Set ◽  
Low Levels ◽  
Constant Returns To Scale ◽  
Variable Returns To Scale ◽  
Non Parametric

AbstractThis paper applies a non-parametric method to provide level technical efficiency for 7 Tunisian ports during 18 years (1998-2015). These ports represent different data set. The use of the model of variable returns to scale (VRS) has led to interesting results. The results show that the most ports are characterized by low levels of technical efficiency, with the exception port of Rades. In addition, the result shows the variation of variable returns to scale and constant returns to scale of technical port’s efficiency. Furthermore, we concluded that the panel data improves the efficiency estimates.

Appraising the Economic Growth Prospects of China’s Services Sector

China Report ◽  
2021 ◽  
Vol 57 (2) ◽  
pp. 131-150
Author(s):  
Uday Khanapurkar
Keyword(s):  
Economic Growth ◽  
Real Estate ◽  
Manufacturing Industry ◽  
High Growth ◽  
Gdp Growth ◽  
Demand Side ◽  
Services Sector ◽  
Growth Prospects ◽  
Manufacturing Growth ◽  
China’S Economy

This article examines the economic growth prospects of China’s services sector. Reportage on China’s economy and its data releases tends to focus largely on aggregate GDP growth, manufacturing growth, retail sales and investments, and fails to adequately cover services despite them being the largest contributor to growth. The article parses the growth of China’s various services subcomponents across a range of parameters and assesses that the industry has come under duress with a slowdown in complementary manufacturing and the dissipation of growth bubbles in finance and real estate. It is further observed that reforms necessary for spurring services growth are at a nascent stage, proceed slowly, and are imperilled by GDP growth targets that result in policies favouring the manufacturing industry. In sum, while China’s services growth prospects are hardly in dire jeopardy due to favourable demand-side conditions, achieving potential and affecting convergence with high income countries will necessitate the expedition of reforms and the engineering of a sustained high growth phase in the sector.

scholarly journals The Impact of Special Economic Zones (SEZs) on Economic Growth: Where the Absorption Capacity of Domestic Labor Stands?

ETIKONOMI ◽  
2021 ◽  
Vol 20 (2) ◽  
pp. 259-274
Author(s):  
Shujaa Waqar ◽  
Iftikhar Badshah ◽  
Marium Sara Minhas Bandeali ◽  
Saira Ahmed
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Absorption Capacity ◽  
Domestic Labor ◽  
Foreign Firms ◽  
Special Economic Zones ◽  
Data Set ◽  
Long Run ◽  
Economic Zones ◽  
The Impact

This study designs to assess and infer the effect of Special Economic Zones under China-Pakistan Economic Corridor on the economic growth of Pakistan through technological spillovers and the absorption capacity of domestic laborers. The present study develops a theoretical model and an empirical panel model to test whether the intervention of Special Economic Zones in the Asian developing countries has affected their economic growth through domestic Human Capital. For relevant results, we have employed the GMM model for the panel data set. The results indicate that the technological enhancement accumulates the economy through various other selected indicators rather than domestic labor productivity. The human capital remains inconsequent in this nexus. This condition gives us guidelines to follow pro-human capital policies to accumulate domestic human capital before the intervention from the foreign firms on our soil. Subsequently, much waited for dynamic or long-run benefits in terms of human capital can be attained rather than static effects.JEL Classification: C23, D24, J24How to Cite:Waqar, S., Badshah, I., Bandeali, M. S. M., & Ahmed, S. (2021). The Impact of Special Economic Zones (SEZs) on Economic Growth: Where the Absorption Capacity of Domestic Labor Stands?. Etikonomi, 20(2), xx – xx. https://doi.org/10.15408/etk.v20i2.19386.

FORMATION OF HUMAN CAPITAL AND THE ROLE OF ITS COMPONENTS IN PROVIDING ECONOMIC DEVELOPMENT

2020 ◽  
Vol 4 (10) ◽  
pp. 3-7
Author(s):  
E. O. POCHKIN ◽  
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Human Development ◽  
Political Development ◽  
Political Action ◽  
High Growth ◽  
Well Being ◽  
Vital Role ◽  
Close Link ◽  
Individual Level

The article shows that the formation of human capital means actions taken to enrich skills, education and experience, which is very important for any economic and political development of the country. An effective tool for resource development is the development of self – development skills at the individual level. Human development requires economic growth, because without it, sustainable improvement of human well-being is impossible. Better health leads to better human development and economic growth. Human health plays a vital role in economic growth. High growth rates do not automatically lead to higher levels of human develop-ment. Here again, decisive political action is needed to establish a close link between economic growth and human development.

Firm Size and Economic Backwardness: A New Look at the French Industrialization Debate

1987 ◽  
Vol 47 (3) ◽  
pp. 649-669 ◽  
Author(s):  
John Vincent Nye
Keyword(s):  
Economic Growth ◽  
Firm Size ◽  
Family Firms ◽  
Returns To Scale ◽  
Traditional View ◽  
Flour Milling ◽  
Average Size ◽  
Constant Returns To Scale ◽  
New Look

This article challenges the traditional view of French industry—that small, inefficient family firms retarded France's economic growth—by examining data for the French textile and flour milling industries taken from the industry census of 1861–1865. The evidence suggests that the average size of French firms suited the economic and technological conditions of the day. The industries studied exhibit constant returns to scale over a wide output range. France would not seem likely to have gained much from larger firms. This is consistent with revisionist contentions that French industry was as rational as that of other nations.

scholarly journals AN ENDOGENOUSLY DERIVED AK MODEL OF ECONOMIC GROWTH

2018 ◽  
Vol 22 (8) ◽  
pp. 2182-2200
Author(s):  
Christian Jensen
Keyword(s):  
Economic Growth ◽  
Steady State ◽  
Returns To Scale ◽  
Profit Maximization ◽  
Perfect Competition ◽  
Production Processes ◽  
Input Use ◽  
Integer Problem ◽  
Ak Model ◽  
Constant Returns To Scale

When the returns to scale of a production process vary with the intensity it is operated at, an AK model with constant returns to scale in production arises endogenously due to replication driven by profit maximization. If replication occurs at the efficiency-maximizing scale, as with perfect competition, the result applies also when the number of production processes must be discrete, thus, overcoming the so-called integer problem. When competition is imperfect, there is only convergence toward the AK model for large enough input use, so an economy is more prone to stalling in a steady state without growth, the smaller and less competitive it is.

Revisiting the Tourism-Led Economic Growth Hypothesis: The Case of China

2017 ◽  
Vol 57 (2) ◽  
pp. 151-163 ◽  
Author(s):  
Bing Zuo ◽  
Songshan (Sam) Huang
Keyword(s):  
Economic Growth ◽  
Generalized Method Of Moments ◽  
Returns To Scale ◽  
Mainland China ◽  
Quadratic Function ◽  
Host Population ◽  
Structure Dimension ◽  
Future Direction ◽  
Constant Returns To Scale ◽  
Growth Hypothesis

This article examines the relationship between the level of tourism specialization (TS) and economic growth using a panel dataset covering 31 provinces in mainland China from 1995 to 2013. A quadratic function was introduced following the basic economic law of returns to overcome the weaknesses of constant returns to scale associated with the tourism-led economic growth hypothesis (TLGH). Using tourist arrivals as a percentage of host population (TA) and tourism receipts as a share of real GDP (TR) as the indicators of TS which represent respectively the level/size and the quality/structure dimension of TS, the system generalized method of moments (SYSGMM) regression results suggest that a meaningful inverted-U- or an N-shaped relationship exists between tourism specialization and economic growth. Based on the portfolio of TA and TR in destinations, the effects and characters of tourism on economic growth are discussed regarding the future direction of regional development.

Sign in / Sign up

Export Citation Format

Share Document