gross value added
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2021 ◽  
Vol 60 (4) ◽  
pp. 39-56
Author(s):  
Andrea Pompigna ◽  
Raffaele Mauro

As transportation is an activity derived from spatial complementarities between a certain supply at an origin and a certain demand at a destination, according to a general axiom it seems that economic activities entail transport de-mand. In this perspective, an essential analysis deals with the quantification of the relationships between transport demand and certain socioeconomic variables. Elasticity is a concept widely used in transport economics as a measure of the responsiveness of transport demand concerning different factors represented as independent variables in an econometric model and coupling/decoupling concepts have been proposed in literature. This paper deals with the estimation of elasticities of motorway traffic demand based on Gross Value Added (GVA), and the consequent investiga-tion of coupling/decoupling situation. The analysis is based on the application of an Autoregressive-Distributed Lag (ARDL) cointegration model with the F-bound test and of the related Error Correction model. Starting from the general ARDL model and the methodology for the verification of its robustness, the same model is applied to the Italian toll road network. The time series of GVA for goods and services and the overall length of the toll network from 1995 to 2019 are considered as explanatory variables of the total annual distance traveled by light and heavy vehicles. The various tests in the ARDL framework show a cointegration between the variables, under the fulfillment of all the diag-nostic requirements. In this way, the long-term elasticities and the short-term adjustment dynamics are estimated sepa-rately for the goods and services components of GVA, and light and heavy vehicles. Starting from stable estimates of elasticities, the long-term coupling and decoupling effects between motorway traffic of light and heavy vehicles and the national production of goods and services can be shown. The paper, as well as providing an updated picture of the Italian situation, identifies a methodological framework that can be transferred to other contexts for a sector of great interest to investors, such as the motorway sector. All this can be useful to meet the needs of numerous stakeholders, who want to deepen the links between the economic cycle and traffic demand on toll motorways.


2021 ◽  
Vol 0 (0) ◽  
pp. 1-23
Author(s):  
Andreea Claudia Șerban ◽  
Elena Pelinescu ◽  
Andrei Silviu Dospinescu

The paper examines the recent developments in the high-technology manufacturing sectors in the EU28 countries, focusing on the β-convergence of gross value added in the Manufacture of computers, electronic, and optical products, and the Manufacture of basic pharmaceutical products and pharmaceutical preparations. We employ two dynamic panel models estimated using the system of generalized method of moments (GMM) to address the risk of an endogeneity bias. The panel data analysis indicates a higher convergence for the Manufacture of computer, electronic, and optical products at 16.4% compared to 2.2% for the Manufacture of basic pharmaceutical products and pharmaceutical preparations, which is consistent with the existence of fewer barriers and higher exposure to competition in the case of the first analyzed sector. In the context of the role of the high-technology manufacturing industries as an engine of growth and the existing performance differences between the EU28 countries in terms of gross value added in the analyzed sectors, we investigated the β-convergence for two groupings EU15 and the new EU member states. We found that the new EU member states display a higher β-convergence rate than EU15, but also that they have a lower capital intensity. The result highlights the potential risk of some of the new EU member states becoming laggers in terms of the underlying factors behind gross value added as investment and labour force.


Author(s):  
E. Karpenka ◽  
К. Shetakova

The article examines aspects of the structural transformation of the industrial complex of the Republic of Belarus. The analysis of changes in the structure of the formation of gross output in industry and gross value added in industry in 2011 – 2019 is carried out. The assessment of the tendencies of restructuring in industry is carried out on the basis of the author's model of the structure of the country's industry.


2021 ◽  
pp. 50-62
Author(s):  
Natalia O. Prokopenko

The purpose of the article is to substantiate the strategic concept of national economy development in the focus of design management. Methodology. General scientific methods are used in the research, in particular theoretical generalization – to determine the theoretical foundations and trends of content and components of design management; system economic analysis – to substantiate the model of strategic economic transformations management in the context of design management; statistical analysis, namely correlation-regression analysis – to study the relationship between macroeconomic indicators and social indicators. Results. It is proved that the current economic model of the national economy is unsuitable for achieving the goals of sustainable development, ensuring the competitiveness of the state in the global environment and a decent standard of living in the long run. Attempts to improve (reform) certain parameters and components of the outdated model may lead to a loss of time and resources, which will cause Ukraine to further lag behind the developed countries of the world. Solving the problem of ensuring a decent living standard for citizens and the human potential development requires a comprehensive reengineering of the structure and processes of the socio-economic system based on design management. Design management is an innovative concept of thinking. The study of its features allowed to formulate our own approach to determining the strategic management of the national economy. Under this approach, it is proposed to understand the process of designing a socio-economic model of development. The parameters of its operation will guarantee a decent satisfaction level of the population needs in the long run, the choice of a system of optimal strategies and mechanisms for their implementation, taking into account the factors of national security and environmental protection. The corresponding model of strategic management of economic transformations is substantiated. The main directions and priorities of economic policy (sectoral, fiscal, tariff, customs and public procurement policy) aimed at the implementation of qualitative structural transformations to ensure economic growth of the national economy in the strategic perspective are given. The correlation-regression analysis of influence of separate macroeconomic parameters is carried out. Among them: GDP, gross value added, gross capital formation and export balance, ensuring household income growth and employment. According to the design concept, they are key factors in social development. According to the analysis results the number of people employed in the economy by 72–73% correlates with GDP and GVA growth, but this relationship turned out to be negative. One of the reasons for the negative correlation may be the growth of labour productivity due to the introduction of innovative technologies. Practical meaning. Employment growth is also negatively affected by the processes of optimizing the number of employees in enterprises due to certain structural changes, including reduction of the share of industry in the structure of GDP, reduction of employees in the budget sphere and increase of the services sector, which does not require such a large number of employees. In the future, the extrapolation of these trends threatens to further deteriorate the labour market. Prospects for further research. Using correlation-regression analysis, close correlations have been established between household incomes and the growth of gross value added in the economy, the increase in the export balance and the gross accumulation of capital. Using correlation-regression analysis, close correlations have been established between household incomes and the growth of gross value added in the economy, the increase in the export balance and the gross accumulation of capital. This indicates the priority of developing economic activities with a high level of value added, increasing exports and capital investment as imperative factors in reducing poverty in the long run.


2021 ◽  
Vol 28 (5) ◽  
pp. 28-38
Author(s):  
A. P. Zinchenko ◽  
M. V. Kagirova

The growing interest both in our country and throughout the world in agriculture as an economic activity of strategic importance for ensuring food independence of the country determines the relevance of research on devising approaches to the analysis of its development using statistical methods. The authors’ approaches to assessing the development of agriculture in Russia based on data from the system of national accounts, including input-output tables, presented in this paper, make it possible to characterize the dynamics of the formation and use of output and gross value added (GVA) of the agricultural sector of the economy (including in the institutional context); assess the demand for each of the presented products within the industry and in the intermediate consumption of other industries; to identify structural changes in the composition of intermediate consumption in the production of goods; determine the trends and prospects for the development of agriculture on their basis.As part of the study, the authors disclosed additional analytical capabilities of statistical databases that include agricultural censuses and current accounting data in the system of macroeconomic indicators and allow for a more accurate assessment of the effectiveness of agricultural development. The calculated coefcients of direct costs ranged in the form of time series, analysis of the structure of intermediate consumption made it possible to identify the features of the development of the Russian agricultural sector and the directions for improving its economic and statistical analysis. The authors argue for the need to take into account the phenomenon of multistructure of agriculture in Russia to calculate the gross value added produced in the sector of peasant farms, subsidiary farms, separately small and large agricultural organizations, including holdings, with the obligatory comparison of the selling prices of their products used when calculating output and GVA. A proposal was made to include a table with additional information on labor costs and consumption of feed, fertilizers, electricity, and other basic resources in physical terms in the system of input-output tables by industry. 


Agronomy ◽  
2021 ◽  
Vol 11 (11) ◽  
pp. 2105
Author(s):  
Dragos Sebastian Cristea ◽  
Sarina Rosenberg ◽  
Adriana Pustianu Mocanu ◽  
Ira Adeline Simionov ◽  
Alina Antache Mogodan ◽  
...  

This research provides an analytical and predictive framework, based on state-of-the-art machine-learning (ML) algorithms (random forest (RF) and generalized additive models (GAM)), that can be used to assess and improve the Common Agricultural Policy (CAP) impact/performance over the agricultural and rural environments, easing the identification of proper instruments that can be used by EU policy makers in CAP’s financial management. The applied methodology consists of elaborating a custom-developed analytical framework based on a dataset containing 22 relevant indicators, considering four main dimensions that describe the intricacies of the EU agricultural and rural environment, in the CAP context: rural, emissions, macroeconomic, and financial. The results highlight that an increase of the agricultural research and development funding, as well as the agriculture employment rate, negatively influence the degree of rural poverty. The rural GDP per capita is influenced by the size of the employment rate in agriculture. It seems that environmental sustainability, identified by both fertilizers used and emissions from agriculture parameters, significantly influences the GDP per capita. In predicting emissions in agriculture, the direct payment, degree of rural poverty, fertilizer use, employment in agriculture, and agriculture labor productivity are the main independent parameters with the highest future importance. It was found that when predicting direct payments, the rural employment rate, employment in agriculture, and gross value added must be considered the most. The agricultural, entrepreneurial income prediction is mainly influenced by the total factor productivity, while agricultural research and development investments depend on gross value added, direct payments, and gross value added in the agricultural sector. Future research, related to prediction models based on CAP indicators, should also consider the marketing dimension. It is recommended for direct payments to be used to invest in upgrading the fertilizers technologies, since environmental sustainability will influence economic growth.


2021 ◽  
Vol 17 (3) ◽  
pp. 873-887
Author(s):  
Ilya A. Korshunov ◽  
Natalia N. Shirkova ◽  
Nikolay S. Zavivaev

Knowledge and skills concentrated in human capital are increasingly important factors of economic development. However, there is a lack of a methodology for determining, which skills are necessary for the efficient industrial development. To this end, we examine skill requirements of regional employers potentially leading to an increase in economic indicators. Skills in demand were compared with predicted indicators based on a se mantic content analysis of vacancy databases in various regions of the Russian Federation. It was revealed that the list of demanded competencies depends not on a geographical aspect but on a specific profession. An analysis of the obtained data demonstrated that the growth in demand for highly qualified employees in the Russian Federation is correlated with an increase in gross value added of relevant industries. A linear correlation between gross value added per employee and the need for skilled specialists was demonstrated on the example of the transport sector. The proposed methodology can be used by educational organisations for targeted training of specialists, as well as by employers and experts for forecasting medium- and long-term socio-economic development of Russian regions.


2021 ◽  
Vol 27 (3) ◽  
pp. 117-132

The article presents an analysis of the inter-industry structural convergence process of Bulgaria’s economy to the Eurozone for the 2000–2018 period. In order to study the specific characteristics of the process, the article explores the dynamics of the relative shares of separate industries (economic activities) in gross value added and compares them to the reference economy, along with possible explanations and implications. The divergence index is employed as a quantitative measure of the degree of structural similarity, and comparisons to other EU economies with similar characteristics are made as well. Results indicate that the output structure of Bulgaria’s economy is slowly converging towards the Eurozone throughout the period despite some variation in developments before and after the 2009 recession.


Author(s):  
M. Puente ◽  
O. Gavilánez ◽  
I. Arias

In a globalized world, one of the most important measures of economic development is financial inclusion that defines a fundamental element that guarantees access to financial products and services by the most vulnerable population; The purpose of this research was to analyze the levels of banking in the province of Chimborazo, which is equivalent to financial deepening through loans and deposits in addition to financial density. The research approach was quantitative, the deductive analytical method evaluated to evaluated nd study the specific financial deepening data based on the VAB (gross value added, deposits and loans), the method of applying linear models through the use of the Gretl 19 software can investigate the existing correlation of financial inclusion against placements and deposits, in addition to the application of financial density. According to the results obtained, it is concluded that there is a positive incidence of fundraising and placement at the level of financial depth, however, the factor that has the greatest influence on depth from any perspective is the provincial gross value added, which allowed to infer that The greater the gross value added, the greater the financial deepening in order to encourage investment in productive business activities. Keywords: financial inclusion, banking, software, Chimborazo. Resumen En un mundo globalizado, una de las medidas más importantes del desarrollo económico es la inclusión financiera que define un elemento fundamental que garantiza el acceso a productos y servicios financieros por la población más vulnerable; la presente investigación tuvo por objetivo analizar los niveles de bancarización como un proceso de inclusión financiera en la provincia de Chimborazo, considerando tanto profundización financiera a través de colocaciones y captaciones además de la densidad financiera. El enfoque de la investigación fue cuantitativo, el método analítico deductivo permitió evaluar y estudiar los datos obtenidos de profundización financiera en función del VAB (valor agregado bruto, captaciones y colocaciones), se aplicó modelos lineales mediante el uso del software Gretl 19 permitiendo investigar la correlación existente de la inclusión financiera frente a colocaciones y captaciones, además la aplicación de la densidad financiera. Según resultados obtenidos se concluyó que existe una incidencia positiva de las captaciones y colocaciones en el nivel de profundización financiera, sin embargo, el factor que tiene mayor influencia en la profundización desde cualquier perspectiva es el valor agregado bruto provincial, lo cual permitió inferir que, a mayor valor agregado bruto, mayor profundización financiera con el fin de fomentar la inversión en actividades productivas empresariales. Palabras clave: inclusión financiera, bancarización, software, Chimborazo.


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