Green Economic Efficiency Evaluation Based on the GMM Model

This paper uses a panel data sample of 30 resource-based cities (hereinafter referred to as R-B cities) in China from 2009 to 2019, constructs the green economic efficiency level (hereinafter referred to as GEE) using the super-SBM model, incorporates the GEE value into the endogenous economic growth model, combines the difference equation and the level equation, and estimates the relationship between the green efficiency level and economic growth using the systematic GMM method. The study came to the following major conclusions: First, green development in Chinese resource-based cities is moderately high, and green economic efficiency varies by region, with a relatively low level of GEE in the central region and a relatively high level of GEE in the eastern and western regions. Second, on both static and dynamic dimensions, Chinese resource-based cities can be classified into seven types based on their level of green development. Third, the GEE of Chinese resource-based cities has a significant positive relationship with economic growth, with the effect of green economic efficiency on economic growth being stronger in the central and northeastern regions.

Technology progress implementation based on a modified version of R.M. Solow economic growth model: with production s-curve consisting of n-steps

The comparative analysis of the neoclassical Solow’s model and the modified Solow’s model in the implementation of technological progress has shown undeniable advantages of the modified Solow’s model. A modified version of the Solow’s economic growth model, based on an n-step production function in the form of n S-shaped functions for the implementation of technological progress, ensures the growth of the economy on a sufficiently large time interval comparable to the duration of the life cycle of the economy under study. In this interval, referred to as the “technology gap”, intensive output y (t) can be carried out according to the following options: monotonic decrease (stable 1-cycle) of the considered model; oscillations (stable n-cycles, n=2,4,16,…), “the economy marks time”; chaotic fluctuations. This result for the models of economic growth has not been described in the literature.

Financial Inclusion and Its Influence on Economic-environmental Performance: Demand and Supply Perspectives

In this study, we want to test the impact of financial inclusion on the economic growth and the environmental quality of OBOR economies. We have selected four different proxies of financial inclusion, two from the perspective of the supply side and two from the perspective of the demand side. For empirical analysis, we have applied 2SLS and GMM methods. In the economic growth model, among the variables of financial inclusion, only the variable of ATMS is positively significant when we apply the 2SLS approach and all others are insignificant, however, when we apply the GMM approach two variables i.e. ATMS and branches are positively significant implying that supply-side financial inclusion is vital for economic growth in OBOR countries. On the other side, the variables of financial inclusion, whether supply-side or demand-side, exerted a positive impact on the CO2 emissions irrespective of the estimation techniques i.e. 2SLS and GMM. These findings imply that financial inclusion, in general, causes CO2 emissions to rise.

Economic growth: the theoretical debate on resources, the environment and growth limits and the choices faced by human beings

PurposeThe relationship between man and nature varies with different stages of the development of human society. The destructive consequences brought about in the early stage of industrialization sparked serious concerns about ecological and environmental issues.Design/methodology/approachThe worldwide controversy aroused by The Limits to Growth published in 1972 made people realize that the carrying capacity of the ecosystem was limited, as were the resources. In the long run, scientific and technological progress can constantly discover new energy and resources.FindingsHowever, in every specific stage of human society, the energy and resources crises are always a severe challenge that human beings should face. It is the core contents of sustainable development to change the old economic growth model and explore a new economic growth model.Originality/valueThe relationship between man and nature is one of the most fundamental relationships in human society and economic development. How to deal with it is also one of the most fundamental issues in human society and economic development. From the perspective of the historical process of human society, the relationship has roughly gone through the following stages.

Contagion in the Markets? Covid-19 and Housing in the Greater Toronto Area

The Covid-19 pandemic has had crucial impacts on housing markets as working from home has become a new normal for certain economic groups. In this paper, we analyse the specific role the pandemic played in worsening the ongoing housing affordability crisis in the Greater Toronto Area (GTA). The GTA has, in fact, been experiencing a housing crisis since the early 2000s. In this paper, we argue that this continuing affordability crisis stems from the economic growth model that was embraced in the late 1990s, and we discuss why the existing market-oriented housing model has failed. The economic growth model of the Toronto region depends on the convergence of the financialization of housing and massive suburbanization. Because of this, the new wave of suburbanization that has accelerated with the outbreak of Covid-19 is not a new phenomenon for the GTA. In the final analysis, we also illustrate that the ongoing Covid-related-suburbanization in the GTA has deepened the housing crisis as the region continues to be less and less affordable.

Corruption and Economic Growth at Province Levels in Indonesia

This study aims to determine the effect of corruption on economic growth at the provincial level in Indonesia. This study uses a model based on the economic growth model of Levine and Renelt (1992). This study uses secondary data obtained from the Central Statistics Agency (BPS), the Investment Coordinating Board (BKPM), and Transparency International Indonesia with the research period of 2014-2018. This study uses a panel data model with a cross-section of 16 (sixteen) provinces in Indonesia. This study uses a model with a Random Effect Model (REM) approach. The results showed that the corruption perception index, foreign direct investment (FDI), initial growth (EGt-1), government spending (GE) and labor (L) each had a positive and significant effect on economic growth (EG) in 16 provinces in Indonesia for the 2014-2018 period, ceteris paribus.

Incorporating Fuzzy Logic in Harrod’s Economic Growth Model

This paper suggests the possibility of incorporating the methodology of fuzzy logic theory into Harrod’s economic growth model, a classic model of economic dynamics for studying the growth of a developing economy based on the assumption that an economy with only savings and investment income is in equilibrium when savings are equal to investment. This model was the first precursor to exogenous growth models, which in turn gave rise to endogenous growth models. This article therefore represents a first step towards introducing fuzzy logic into economic growth models. The study concerned considers consumption and savings to depend on income by means of uncertain factors, and investment to depend on the variation of income through the accelerator factor, which we consider uncertain. These conditions are used to determine the equilibrium growth rate of income and investment, as well as the uncertain values for these variables in terms of fuzzy numbers. As a result, the new model is shown to expand the classical model by incorporating uncertainty into its variables.