scholarly journals ECONOMIC GROWTH MODEL FOR BOSNIA AND HERZEGOVINA IN THE PERIOD 2007-2017 - OPPORTUNITIES FOR FUTURE RISKS REDUCTION -

2019 ◽  
Vol 1 (18) ◽  
pp. 61
Author(s):  
Saša Stevanović
Keyword(s):  
Economic Growth ◽  
Nash Equilibrium ◽  
Gross Domestic Product ◽  
Bosnia And Herzegovina ◽  
Aggregate Demand ◽  
Economic Life ◽  
Domestic Product ◽  
Economic Agents ◽  
Productivity Function ◽  
Economic Growth Model

The theory of the system indicates that the metastable state (state of the system described as a state which is close to the equilibrium state) will go into equilibrium if we wait long enough. The behavior of a particular system in the future depends on historical events, current and future shocks. In the equilibrium, all participants in economic life - economic agents are satisfied with their position, and economists call this a state of Nash equilibrium. The problem that we will deal with is the question of whether the economy of Bosnia and Herzegovina is in equilibrium, how to measure equilibrium, how to achieve stability and the balance of the system. The research will focus on productivity function for BiH, the concept of a potential gross domestic product, deviations in the nominal gross domestic product from the potential. We will analyze aggregate demand with the aim to define the model of economic growth of Bosnia and Herzegovina. We believe this knowledge will provide a basis that we believe can serve to create instruments, measures and policies that are needed to reduce future risks - deviations in economic growth.

scholarly journals IMPACT OF EXPORTS ON ECONOMIC GROWTH IN BOSNIA AND HERCEGOVINA

2021 ◽  
Vol 18 (32) ◽  
Author(s):  
Biljana Gojković ◽  
Milenko Krajišnik ◽  
Sonja Josipović ◽  
Sanja Popović
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Foreign Trade ◽  
Bosnia And Herzegovina ◽  
Trade Balance ◽  
Domestic Product ◽  
Production Structure ◽  
The Poor ◽  
Multiplier Effect ◽  
The Subject

The importance of foreign trade and its impact on the economic growth have been the subject of numerous studies. There is no doubt that exports have a multiplier effect on the growth of gross domestic product, but economists are constantly interested in what the foreign trade multiplier is and why it is not higher. This paper deals with the analysis of foreign trade of Bosnia and Herzegovina, its geographical and production structure and concentration, as well as the causes of high and continuous deficits. The analysis indicates potential opportunities to improve the poor production structure of foreign trade and ways in which foreign trade, and especially exports, could increase in order to improve the foreign trade balance. The analysis is especially focused on determining the foreign trade multiplier, and the results show the great importance of exports for economic growth. It also aims to emphasise how to improve export potential of Bosnia and Herzegovina in the future.

scholarly journals FORECASTING THE POTENTIAL OF THE ECONOMIC SYSTEM ON THE BASIS OF THE EXOGENIC GROWTH MODEL

2020 ◽  
Author(s):  
Sergiy Poznyak ◽  
◽  
Yurii Kolyada ◽  
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Global Economy ◽  
Technological Progress ◽  
Growth Potential ◽  
Domestic Product ◽  
Solow Model ◽  
Economic Agents ◽  
The World ◽  
Macroeconomic Indicators

The paper considers models of economic growth and the possibility of modifying a suitable model to find the potential for economic growth for the economy of society. The world global economy is studied, presented in terms of societies of the world, in monetary terms and the growth potential of gross domestic product in relation to capital, labor, technological progress, population and other macroeconomic indicators that affect it. Theoretical and methodological significance lies in the description of a fundamentally new method of modeling, which can be used to assess the potential of economic development, proving the dynamics of the coefficients of elasticity of production factors, and proving the hypothesis of declining economic growth. The developed model effectively estimates the potential for economic growth for any country and can be used as a basis for forecasting indicators of potential capital intensity of production and potential gross domestic product. Regarding the practical significance of the obtained results, it should be noted that all changes and numerical values are supported by real data and are a consequence of economic, political or social phenomena in the economy of the country under consideration. In the further research it is possible to develop this model, adding to it new variables which influence economic growth, to update methodology of finding of coefficients as a result of actions of economic agents, instead of only their exogenous influence on economy. The work has three main sections. The first section contains theoretical aspects of estimating the evolutionary economy in the one-dimensional case, it describes the basic theoretical information about the Solow model and other neoclassical and endogenous models of economic growth. The second section describes the possibilities of the Solow model for estimating economic growth potential and theoretical aspects and derives the mathematical basis for estimating economic growth potential. Also in this section describes the implementation of the mathematical base. The third section comments on the results of modeling, based on which detailed conclusions are formed, which summarize the economic, mathematical, analytical and technical work. The simulation results well illustrate the degree of use of economic potential, as well as the impact of capital, technological progress, investment, natural population movement on the efficiency of the economy in terms of many countries. The developed software (as a product of the digital economy) can be used to further improve the model, taking into account more factors.

Trends of Private Consumption in the Restructuring of China’s Economy

2015 ◽  
Vol 07 (04) ◽  
pp. 52-64
Author(s):  
Chien-Hsun CHEN
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Private Consumption ◽  
Decisive Role ◽  
Domestic Product ◽  
Domestic Consumption ◽  
Labour Income ◽  
Rapid Economic Growth ◽  
Labour Share ◽  
China’S Economy

The benefits deriving from rapid economic growth have chiefly accrued to capital returns. Consequently, the decline in the share of Chinese gross domestic product (GDP) accounted for by labour income has been most pronounced. To sustain growth, China will have to ensure robust consumption. Increasing the labour share in GDP and hence promoting domestic consumption will play a decisive role in rebalancing China’s economy.

The impacts of income inequality on the gross domestic product under direct taxation: evidence from emerging market economies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ahmet Eren Yıldırım ◽  
Mete Dibo
Keyword(s):  
Economic Growth ◽  
Fiscal Policy ◽  
Income Inequality ◽  
Gross Domestic Product ◽  
Emerging Market ◽  
Domestic Product ◽  
Emerging Market Economies ◽  
Content Type ◽  
Market Economies ◽  
Direct Taxation

PurposeThis study analyzes the impacts of income inequality after direct taxation on the gross domestic product as a fiscal policy tool in the development process.Design/methodology/approachThe model of the study is based on Munielo-Gallo and Roca-Sagales (2013), which examined the fiscal policy, income inequality and economic growth simultaneously. The study uses two models to analyze the relationship between income inequality and gross domestic production under direct taxation by employing autoregressive distributed lag (ARDL) model for selected emerging market economies.FindingEmpirical results reveal a negative long-run relationship between variables in some countries in line with the literature, despite a positive relationship in others. Moreover, the results exhibit the negative impact of income inequality after direct taxation on the gross domestic product decreases.Originality/valueResults of the study highlight the importance of direct taxation on income inequality concerning the reflects on economic growth. It suggests that when the income distribution is fairer, it may positively affect the gross domestic product. The study provides a new perspective to the related literature by investigating the role of income inequality under direct taxation for gross domestic product.

Financial Deepening, Financial Intermediation and Nigerian Economic Growth: Time Variant Analysis

2019 ◽  
pp. 60-73
Keyword(s):  
Economic Growth ◽  
Interest Rate ◽  
Gross Domestic Product ◽  
Private Sector ◽  
Money Supply ◽  
Domestic Product ◽  
Financial Deepening ◽  
Causality Test ◽  
Real Gross Domestic Product ◽  
Long Run

This study examines financial deepening, financial intermediation and Nigerian economic growth. The main purpose is to examine the relationship between financial deepening and Nigerian economic growth while the specific objectives are to examine the impact of interest rate, capital market development, rational savings, credit to private sector and broad money supply on the growth of Nigerian. Secondary data of the variables were sourced from the publications of Central Bank of Nigeria (CBN) from 1981-2017. Nigerian Real Gross Domestic Product (RGDP) was used as dependent variable while Broad money supply (M2), Credit to Private Sector (CPS), National Savings (NS), Capital Market Capitalization (CAMP) and Interest Rate (INTR) was used as independent variables. Multiple regressions with E-view statistical package were used as data analysis techniques. Cointegration test, Augmented Dickey Fuller Unit Root Test, Granger causality test was used to determine the relationship between the variable in the long-run and short-run. R2, F – statistics and β Coefficients were used to determine the extent to which the independent variable affects the dependent variable. It was found from the regression result that Broad Money Supply, credit to private sector have position effect on the growth of Nigerian Real Gross Domestic Product while National Savings, Capitalization and Interest Rate on Nigeria Real Gross Domestic Product. The co-integration test revealed presence of long-run relationship among the variables, the stationary test indicated stationarity of the variables at level. The Granger Causality Test found bi – variant relationship from the dependent to the independent and from the independent to the dependent variables. The regression summary found 99.0% explained variation, 560.5031, F – statistics and probability of 0.00000. From the above, the study concludes that financial deepening has significant relationships with Nigerian economic growth. We recommend that government and the financial sector operators should make policies that will further deepen the functions of the financial system to enhance Nigerian economic growth.

scholarly journals KAPSARC Oil Market Outlook

2021 ◽  
Author(s):  
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
International Monetary Fund ◽  
Domestic Product ◽  
Real Gross Domestic Product ◽  
The Third ◽  
Oil Market ◽  
Market Outlook ◽  
Oil Demand ◽  
The International Monetary Fund

Total global oil demand is expected to increase year-on-year (YoY) by 4.2 million barrels per day (MMb/d) in 2021 and further grow by 3.5 MMb/d in 2022, returning to 2019 levels by the third quarter (Q3) 2022. The International Monetary Fund (IMF) predicts economic growth of around 5.4% in 2021, compared with a decline in real gross domestic product (GDP) in 2020 of -4.4%. However, KOMO estimates a forecast more in line with the OECD’s outlook for growth (4.2%), which presumes that GDP levels will only reach 2019 levels by the end of 2021.

scholarly journals Are Business Regulations Improving Economic Growth? Case Study between ASEAN and European Union

2021 ◽  
Vol 9 (1) ◽  
pp. 44-53
Author(s):  
Karuniana Dianta Arfiando Sebayang ◽  
Belinda Febrina
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Gross Domestic Product ◽  
Quantitative Research ◽  
Domestic Product ◽  
The European Union ◽  
Doing Business ◽  
Ease Of Doing Business ◽  
Business Regulations ◽  
The Impact

Economic activities require a transparent regulatory and policy environment that is accessible to all levels of society. This study aims to explain the impact of ease of doing business on economic growth in both ASEAN and the European Union since doing business indicators applied globally. Gross Domestic Product is used as a proxy variable for economic growth as Gross Domestic Product is an indicator to measure economic growth. This study uses a descriptive quantitative research model and uses multiple regressions to determine the effect of ease of doing business on economic growth in ASEAN and the European Union by comparing the result of each ASEAN and European Union. In this study it was found that in ASEAN, there are four indicators of doing business have significant impact to economic growth, while in the European Union five indicators have significant impact to economic growth.  

scholarly journals Austerity in Time of Crisis: A Solution or a Dangerous Idea? Evidence from Algeria

ETIKONOMI ◽  
2018 ◽  
Vol 17 (1) ◽  
pp. 11-24
Author(s):  
Hadjer Boulila ◽  
Mohamed Benbouziane
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Domestic Product ◽  
Distributed Model ◽  
Non Linear ◽  
Oil Crisis

Our study is aimed to investigate the effect of austerity measures on the economic growth. Besides that, this research wants to examine whether austerity is the solution of the current oil crisis in Algeria or not. To achieve this aim we have used a Non-Linear Autoregressive Lag Distributed model (NARDL) to illustrate the negative and positive changes in austerity measures and their effects on gross domestic product. The findings of our estimation provides that neither increasing taxes cuts nor reducing expenditures is a solution for the crisis, that what confirms empirically what Keynesian economists approve. Therefore, Algeria’s authorities must quickly find other solution rather than austerity policies.DOI: 10.15408/etk.v17i1.6799

scholarly journals Pengaruh Pertumbuhan Asuransi Syariah terhadap Pertumbuhan Ekonomi Indonesia

2019 ◽  
Vol 21 (1) ◽  
pp. 56
Author(s):  
Dedy Mainata ◽  
Angrum Pratiwi
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Secondary Data ◽  
Data Sources ◽  
Domestic Product ◽  
Financial Industry ◽  
Islamic Bank ◽  
Independent Variable ◽  
Secondary Data Sources ◽  
Islamic Insurance

<p><em>This study aims to determine the effect of growth in Islamic insurance on economic growth. By using secondary data sources, secondary data in the form of total Islamic insurance assets during 2015-2017 originated from the report of the Non Islamic Bank Financial Industry in the official website. This study analyzes the influence of the growth variables of Islamic insurance on economic growth. With the Independent variable in this study is the growth of Islamic insurance with total assets as an indicator (X). And the dependent variable in this study is Indonesia's economic growth using the indicator Gross Domestic Product (GDP) or Gross Domestic Product (GDP) (Y). The results of the study show that the growth variables of Islamic insurance have an effect on Indonesia's economic growth.</em><em></em></p>

scholarly journals Dampak Pembiayaan BUS dan UUS Terhadap Produk Domestik Bruto Indonesia Berdasarkan Lapangan Usaha

2021 ◽  
Vol 1 (3) ◽  
pp. 555-571
Author(s):  
Aida Azmi Nabila ◽  
Endang Hatma Juniwati ◽  
Fifi Afiyanti Tripuspitorini
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Gross Domestic Product ◽  
Model Test ◽  
Domestic Product ◽  
Islamic Banking ◽  
Economic Sectors

Islamic banking has a role to encourage economic development and enhance economic growth. One way to do this is by allocating Islamic banking financing funds to all economic sectors or industrials in Indonesia. There is a mismatch between the growth statistics of financing distribution to Gross Domestic Product based on industrials consisting of seven industrial. This istudy iaims ito idetermine iwhether ior inot ithere iis ia  relationship, iconstribution, and the effect iof ifinancing ichanneled on Indonesia's Gross Domestic Product. The isample iin ithis istudy was determined using ipurposive isampling. iThis iresearch imethod iis ia idescriptive imethod iwith ia iquantitative iapproach. iThe iresults iof  the model test of the effect of BUS and UUS financing on Indonesia’s Gross Dometic Product based on the industrial in 2012-2019 show that not all financing has a relationship, constribution, and the effect to Indonesia’s Gross Domestic Product based on the industrial.

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