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This research deals with the program of the National Initiative for Human Development, a social project aim to improving the standard of living of Moroccans by fighting poverty, combating social exclusion, supporting income-generating activities, caring for women, children and people in difficult situations. The study examines the impact of the National Initiative for Human Development on Moroccan economic growth from 2006 to 2017, which is the period that combines the first and second phases of this program. Literature Reviews that dealt with the relationship between human development and economic growth were also highlighted. Secondary data was used based on World Bank reports in this regard, and the investment budget for the National Initiative for Human Development was based on reports of the National Coordination of the Initiative (Moroccan Ministry of Interior). By error correction model, it was found that there is a long-term positive relationship between investment in the national initiative for human development (INDH) and Moroccan gross domestic product (GDP). The conclusion from this relationship is that strengthening the role of the national initiative, as a tool for economic and social reform will positively affect GDP and the Moroccan economy in general. [ABSTRACT FROM AUTHOR]

This paper reviews the economic policies adopted by the Indian government under different policy regimes, provides a political economy perspective of economic growth in the country during 1950–2020 and examines the inclusiveness of the rapid economic growth in recent decades. The growth performance of the economy improved as the economy moved from inward-looking policy regime to the regimes of pro-business and pro-market policies. India's political economy was supportive of the changes in policy regime. After growing at a sluggish rate during the first three decades after 1950–1951, the gross domestic product (GDP) growth accelerated significantly after the pro-business reforms in the 1980s, and there was further acceleration after the pro-market reforms since 1991–1992. It has, however, slowed down in recent years. Nevertheless, it has not been inclusive, as the benefits of growth have not reached all sections of the population and all regions of the country equally. On the contrary, disparities in income across regions and inequalities in income, wealth and consumption among individuals have exacerbated, and the problems of unemployment and poverty have been persisting in the economy. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Ciencias Sociales (13159518) is the property of Revista de Ciencias Sociales de la Universidad del Zulia Venezuela and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Dictamen Libre is the property of Universidad Libre Seccional Barranquilla and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The purpose of the study was to investigate the relationship between foreign remittances and economic development, specifically examining their impact on GDP per capita growth, significance of workers' remittances in economic growth, influence of remittances on Gross Capital Formation Ratio, the effect of remittances on household final consumption expenditure, relationships between remittances and trade as the percentage of GDP, and the effects of remittances on population growth. The researcher selected six countries in South Asia as the sample for this study. The panel data was used to test the relationship between the observed variables, employing both random and fixed effect models to test study's hypotheses. Findings revealed a positive relationship between the growth of foreign remittances and indicators such as GDP per capita, the overall economic growth, gross capital creation, and household consumption spending. These results thus highlight the significant influence that the remittances have had on Pakistan's economic indices and underscore the importance of remittance flows for the growth and stability of the Pakistani economy. [ABSTRACT FROM AUTHOR]

The construction industry in many developing countries is considered the main engine for economic growth. Quantification of the resilience of the construction industry in developing economies is essential for stakeholders and decision makers. Many researchers have attempted to quantify the construction industry's resilience in the context of developed economies; however, there is lack of established measures of such quantification in developing countries. This paper proposes a framework for the composition of an index that quantifies the resilience of the construction industry in developing countries. The proposed framework is demonstrated in the context of three developing countries: Rwanda, Egypt, and Turkey. The index is composed of measures such as the construction value added to a country's gross domestic product (GDP) and employment in construction. Principal Component Analysis (PCA) is utilized for weighting and aggregation of the individual variables. Studying the causal relationship between construction growth and economic development from 1971 to 2022, results show that construction growth leads to economic development in each of the three countries. Results of the proposed index values indicate that the construction industry in each of the three countries demonstrated increased resilience by sustaining both its outputs and its employment generation aspect in the two years following the coronavirus pandemic in 2019. Quantification of the construction industry's resilience in countries where the construction growth leads to the economic growth would provide a crucial insight for stakeholders and decision makers. [ABSTRACT FROM AUTHOR]

This paper analyses the nexus between renewable and non-renewable energy consumption, financial development, Information and Communication Technology (ICT) diffusion and economic growth, in MENA countries, over the period 1980–2018. We use the novel Cross-Section augmented Autoregressive Distributed Lag (CS-ARDL) estimation technique which accounts for cross-sectional dependence and cross-country heterogeneity issues. We find a positive impact of renewable and non-renewable energy on economic growth, but a negative effect of financial development on economic growth. We also find a positive and statistically significant influence of ICT on Gross Domestic Product (GDP). Renewable energy and ICT diffusion can be considered important determinants of improved economic activity, job creation and better environmental quality. Pairwise Dumitrescu-Hurlin panel causality tests were used to examine the causal relations among the variables. The findings of this study have considerable policy implications for the selected countries. [ABSTRACT FROM AUTHOR]

Understanding the factors that influence a country's Gross Domestic Product (GDP) is essential for policymakers and stakeholders in decisionmaking and policy development related to economic growth. The aim of this study is to analyze the influence of population growth, households and NPISHs final consumption expenditure, exports of goods and services, net trade in goods and services, and merchandise exports to low- and middle-income economies within the region on GDP. A quantitative approach was adopted in this research, using data from various sources such as government statistics and international organizations. The data was analyzed using panel data regression analysis with the Eviews application. The results of the study are found to be statistically significant and provide valuable insights into the factors that impact GDP. The findings of this study have important implications for policymakers and stakeholders in decision-making and policy development related to economic growth. By understanding the influence of population growth, household consumption, exports, trade, and merchandise exports on GDP, policymakers can develop targeted policies and strategies to promote economic growth and development in the region. [ABSTRACT FROM AUTHOR]

In terms of structure, state and evolution of the economy in the last decades, Romania and Bulgaria have common characteristics, being similar also, from the development perspectives point of view, with goals and projections that are intertwined. This study aims, on the one hand, to capture the economic situation as a whole, at the level of the two countries, and on the other hand to identify the best ideas, but also viable measures, which lead to the achievement of the set objectives, in the next period. At the same time, based on V A R - Vector Autoregression Model analysis, a correlation report is analyzed, which identifies three of the most important macroeconomic indicators, in the current economic environment, namely: public debt, gross domestic product, respectively investments. The reference period considered is between the years 2009 - 2021, with a quarterly frequency. [ABSTRACT FROM AUTHOR]

Road safety development is affected by both motorization rates and economic growth. This phenomenon is studied using the Kuznets curve model, which uses data such as the number of road fatalities, the population, the number of vehicles, and the gross domestic product (GDP) per capita, all of which are verified by applying the data envelopment analysis (DEA) model. The results showed that there were strong links between road safety development and economic growth in China. As GDP per capita rose from 1979 to 2018, the number of vehicles per person increased and the number of fatalities per vehicle decreased, producing a relationship that followed an N-shaped curve. However, in 2002, the relationship between the road mortality rate and GDP per capita followed an inverted U-shaped curve; the point at which this happened in the Kuznets curve was the turning point for road safety performance in China. Thus, road mortality rates increased as GDP per capita increased, but declined once GDP per capita exceeded 17 187 CNY. The analysis that stems from the results of the Kuznets curve model is consistent with the performance evaluation derived from the DEA-based road safety model. The findings could provide an important reference for policymakers to improve road safety under harsh economic conditions. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economia Contemporânea is the property of Revista de Economia Contemporanea and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Recently, emerging, developed, and developing economies have placed great emphasis on the need to attain environmental sustainability while achieving economic expansion. In an effort to offer possible policy options toward the attainment of sustainable development, this study examines the effect of economic growth on carbon emissions mitigation. Yearly panel data for 44 countries comprised of emerging, developed, and developing economies from 1990 to 2017 is used. To address the gap in the literature, this nexus is examined on seven layers of carbon emissions. This study reveals reliable and robust empirical findings with the use of system and difference general method of moments, random and fixed effects using the Durbin-Wu-Hausman test model, and feasible general least-squares estimation approaches. Our findings indicate that for developed economies, carbon emissions by the power industry have been mitigated and increased domestic credit to the private sector leads to a decrease in all layers of carbon emissions. Nevertheless, gross national income increase negatively impacts emissions by the transport sector. In emerging and developing economies, increased domestic credit to the private sector increases emissions by the power industry, transport sector, buildings, other combustion industries, and other non-major sectors. For all economies, an increase in domestic savings leads to an increase in all layers of carbon emissions. Compared with prior studies that simply focus on gross domestic product and total carbon emissions, our study provides detailed insights on the carbon emissions mitigation efforts by sector and economic group given the true drivers of economic expansion. [ABSTRACT FROM AUTHOR]

Disentangling the relationship between economic development and environmental protection has attracted much attention from public administration scholars. While traditionally scholars approach the relationship from either a substitutive or a complementary perspective, we offer a nuanced perspective by examining how the target‐setting on economic growth shapes environmental performance. This article proposes an explanation for the impacts of gross domestic product growth targets on environmental performance based on a yardstick competition model, where the upper‐level governments use relative performance to create competition among lower‐level governments. We argue that a trade‐off exists between economic development and environmental performance; however, the substitutive relationship tends to transit to a complementary relationship when environmental performance is incorporated into the cadre evaluation system. Analyzing a panel dataset of economic targets and PM2.5 air pollution across Chinese cities from 2001 to 2010, we confirm the relationship between economic targets and environmental performance by highlighting local leaders' political incentives. [ABSTRACT FROM AUTHOR]

Does a country need good institutions to use tourism as an economic development activator? From a sample of non-organisation for economic co-operation and development countries, this article aims to assess the feasibility of tourism-led growth in different institutional settings. The results not only suggest that a tourism shock is good for gross domestic product growth but that inclusive institutions enhance the ability of a country to convert tourism into growth. It also emphasises that beyond tourism that remains a major transmission channel for growth, inclusive countries largely benefit from growth in their neighbouring countries. They are more able to import economic growth from abroad. [ABSTRACT FROM AUTHOR]

Copyright of Revista Espacios is the property of Talleres de Impresos Oma and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Existing research suggests a link between a country's infrastructure quality and its economic performance. However, no country can invest in all types of infrastructure across the country. Therefore, it is critical to identify and assess multiple indicators of infrastructure for regions within a country and focus on improving infrastructure as identified by the weak indicators. Research investigating the determinants of regional wealth and economic growth is limited. In this comprehensive research including all 35 regions in Austria, we began by evaluating the relationship between logistics-related infrastructure and regional gross domestic product. In the process, other indicators, and mediators such as knowledge infrastructure, business attractiveness emerged as impacting gross domestic product. The findings help to better understand the relative importance of diverse logistics indicators influencing regional economic development and provide insights for policy decision-making. [ABSTRACT FROM AUTHOR]

Theory and practice suggest that entrepreneurship is the engine of economic growth. The speed with which a nation moves from economic growth to economic development depends on the performance of entrepreneurial initiatives. Given the role played by entrepreneurship for the development of an economy, increasing its performance can help the development of national markets and the increase in national competitiveness. The main objective of our paper is to investigate the link between entrepreneurial performance and economic development of countries. The research was carried out on a sample of 27 European Union countries in a period of twelve years. We used panel data regression models. As dependent variables for expressing the economic development, we considered the global competitiveness index and the gross domestic product per capita growth. As independent variables, we used a set of indicators measuring entrepreneurial performance. Our findings highlight the significant role played by increased entrepreneurial performance for enhancing the economic development of EU countries. We also find that some indicators expressing entrepreneurial performance might have different effects on the economy depending on the stage of economic development of countries. Our research provides empirical evidence regarding the need for performant entrepreneurial activities for enhancing economic development. [ABSTRACT FROM AUTHOR]

This study aims to reinvestigate the long run relationship between credit market development and economic growth in Nigeria covering the years between 1981 and 2016 by applying recently developed econometric techniques. In addition to measures of credit market development indicators of domestic credit to the private sector and broad money, trade openness, foreign direct investment and urbanization are also included in estimations to overcome the omitted variable problem. The measure for economic growth used is real gross domestic product. To the best of our knowledge, no study has been conducted before, examining these relationships with all these listed indicators. Therefore, this study proposes to close this gap in the literature. To capture the long run effects, we used ARDL, Fully Modified Ordinary Least Squares, and Dynamic Ordinary Least Squares estimator approaches. Findings uncover that (a) a long run equilibrium relationship exists between credit market development and economic growth, (b) economic policy makers are required to seek after developing the credit market with the main intention of guaranteeing that banks and other money related establishments are enabled and empowered to give the essential funds to the beneficial part of the economy which are urban and private sectors. [ABSTRACT FROM AUTHOR]

In this paper, we investigate the effect of corruption on the economic development of the Latin American and Caribbean countries. Using panel data covering the period from 2000 to 2018 and leveraging on two‐way fixed‐effect and system generalized method of moments estimators, we show that a one standard deviation increase in corruption, as measured by the reversed Transparency International's corruption perception index, is associated with a decrease of 12.2% in gross domestic product per capita and a decrease of 3.05% in economic growth. This supports the view that corruption "sands the wheels" of the development of Latin American and Caribbean countries rather than "grease the wheels" perspective that corruption may help compensate for bad governance. We also assess the potential mechanisms through which corruption affects economic performance, providing evidence that corruption is associated with lower investment in physical capital and lower foreign investment flow. Finally, a panel Granger causality test indicates a bidirectional causality between higher corruption and lower economic development. [ABSTRACT FROM AUTHOR]

Sustainable economic development is a constant concern of governments all over the world. Therefore, it is very important to identify the factors and ways to increase the macroeconomic performance indicators. Tourism is one of the sectors of the national economy that can stimulate the growth of the Gross Domestic Product, especially since this sector involves the combined effort of several branches and generates significant positive economic effects as an efficient source of economic prosperity. In order to study the impact of tourism on the economic development of Romania, we performed a regression analysis, considering the number of accommodation nights as an independent variable and the Gross Domestic Product growth rate as a dependent variable. [ABSTRACT FROM AUTHOR]

In this study, the effects of financial development and trade openness on economic growth were investigated using annual data for Turkey over the period 1960–2017. The financial development variable is represented as the ratio of financial system deposits to GDP. The trade openness variable is represented as the ratio of the sum of exports and imports of goods and services to GDP. To examine the long-run relationship between financial development, trade openness and economic growth; Fourier-based stationarity test and its complementary Fourier-based cointegration test are used. Finally, Fourier-based causality tests are also used to examine the causality relationship between the variables. As a result of cointegration tests, a long-term cointegration relationship was found between variables. According to the Fourier Toda-Yamamoto causality analysis results, it is seen that there is a one-way causality relationship from financial development to economic growth and from financial development to trade openness. [ABSTRACT FROM AUTHOR]

This study investigates the causal effect relationship between defence spending, economic growth and development in three regions for the period 1990–2018. It further estimates the trivariate impacts of defence spending, growth and development in three regions. To measure growth, we used real gross domestic product as the proxy, while economic development was measured by the Human Development Index. The empirical results suggest the existence of a bidirectional long-run relationship between defence spending, economic growth and development in the entire sample and the three regions of sub-Saharan Africa, the Middle East and North Africa, and Latin America and the Caribbean countries. The causality results reveal that there is feedback causality between defence spending, economic growth and development. There is thus a need to promote holistic policies to reduce the defence spending necessary for the enhancement of inclusive economic growth and development in these three regions. A decrease in defence spending in the three regions will encourage aggregate output and the standard of living to increase, and move simultaneously in the same direction. [ABSTRACT FROM AUTHOR]

The purpose of this study is to investigate and identify the directions for improving innovative economic growth in the Republic of Azerbaijan. Also, in this article, the nature of innovative economic growth and innovation activity in the Republic of Azerbaijan has been examined. For this purpose, statistics from the Global Innovation Index Report (GII) 2021 and the State Statistical Committee of the Republic of Azerbaijan have been revised and analised. Innovation activity and its indicators in the Republic of Azerbaijan have been compared with some relevant countries to identify the level of activity in the mentioned field. So, according to the GII 2021, Azerbaijan ranks 80th out of 132 countries with 28.4 points. This indicates are for Belarus (62 points), Georgia (63), Austria (18), and Turkey (41). Correspondingly, according to the 2020 statistics, the gross industrial product (GIP) was 37.27 billion AZN, the GDP was 72.43 billion AZN, and the gross innovation product was 28.58 million AZN, or 0.039% of GDP and 0.076% of gross industrial product. The study concluded with a set of recommendations, the most important of which are the suggestions to achieve innovative development and sustainable economic growth in the Republic of Azerbaijan. [ABSTRACT FROM AUTHOR]

The main objective of economic development and economic growth is to implement national policies that can serve the multidimensional problems of society, but also to assess the possible effects that the implemented policies will have on the prospects of progressivity. The main purpose of this paper is to highlight the fact that the general well-being of the population is perfectly intertwined with the objectives of growth and economic development, being a timely topic to address in this research. Development does not only involve GDP growth, but also exceeds this level, towards a qualitative change in society's plans, which translates into ensuring the well-being of the population. This research aims to highlight the fact that economic development is the expansion beyond the gross domestic product, through changes that refer to people's quality of life, in the long run and in which the elements characteristic of economic growth become fundamental elements of development. In this context, this research will delineate the policies needed to ensure development, in parallel with a growing economic level, considering that not only income-based fiscal policies are needed, but also subjective population-centred policies that take into account, not only economic but also social conditions, which contribute to the quality of life. The methodology was based on the study of specialized literature, so that the research results to end with a comprehensive definition of the well-being of society. Through this qualitative research, this paper adds value to the literature, highlighting the fact that growth and development are promoters of well-being. [ABSTRACT FROM AUTHOR]

Studying the impact of the high-speed railway (HSR) on economic growth has important practical significance and can provide a theoretical basis for government investment in infrastructure. In this study, the adoption of HSR was used for natural and rigorous exploration. Based on the panel data on counties in Hubei Province of China from 2001 to 2017, a synthetic control method was used to analyse the impact of HSR on the economic growth of county-level areas with different economic bases. The results showed that HSR had different influences on the economic development of county-level cities with different economic bases in the short term. The Wuhan-Guangzhou HSR had significantly promoted the gross domestic product (GDP) growth of Chibi City with a good economic foundation. The robustness test results revealed that the promoting effect was significant at a level of 3.7%. The Hefei-Wuhan section of the Shanghai-Wuhan-Chengdu HSR had significantly inhibited the GDP growth of Hong'an County by developing on a weak economic foundation. The robustness test results revealed that the inhibitory effect was significant at the level of 2.8%. However, the Hefei-Wuhan section had a stable and promoting effect on Macheng City. Based on the abovementioned conclusions, each county-level city should focus on long-term economic development, invest in HSR construction based on local conditions instead of blind expansion, make use of HSR to vigorously develop characteristic industries, and implement talent retention and introduction policies. [ABSTRACT FROM AUTHOR]

Capital stock is possessing pivotal importance in stimulating the economic growth and development of any country. Inward FDI is considered as one of the important catalysts of economic development particularly for the resource and capital poor countries. In this article we have examined the relationship between inward FDI and economic growth in case of one of the emerging economies of Latin America i.e., Brazil. We took annual time series data for the dependent and independent variables like inward FDI, per capita Gross Domestic Product (GDP), employment, capital formation, and exports for the period ranging from 1996 to 2019. We ran Ordinary Least Square Regression and Random Effect Regression Analysis for gauging the nature of relationship between the variables as well as for testing the robustness of the results. We found that FDI has a positive and significant relationship with GDP and the exports. Whereas, FDI has insignificant relationship with the employment and capital formation. The article holds an important policy implication for the other developing countries of Latin America; they need to attract good amount of inward FDI to achieve the robust economic growth and development. [ABSTRACT FROM AUTHOR]

Energy plays an important role in economic development. This paper deals with the long-run relationship between energy consumption and real GDP for V4 countries from 2005 to 2019. The analysis was based on the unit root tests, co-integration tests, and causality tests. There are two questions. The first question is if energy consumption the stimulus to GDP, resp. energy consumption causes GDP. And the second question is if GDP the stimulus for energy consumption, resp. GDP causes consumption of energy. Energy consumption has an essential role in the economy on both the demand and the supply. It means that there should be a causal relationship from energy consumption to GDP as well as vice versa. Given that in the long run the energy consumption Granger causes the GDP in Slovakia, Hungary, and the Czech Republic, it means that energy consumption could cause economic growth in these countries. The only country where no significant relationship between energy consumption and the GDP has been demonstrated in Poland. [ABSTRACT FROM AUTHOR]

We provide aggregate macroeconomic evidence on how, in the long run, a diverse degree of complexity in production may affect not only the rate of economic growth, but also the correlation between the latter, population growth and the monopolistic (intermediate) markups. For a sample of Organisation for Economic Co-operation and Development (OECD) countries, we find that the impact of population change on economic growth is slightly positive. According to our theoretical model, this implies that the losses due to more complexity in production are lower than the corresponding specialization gains. Using a finite mixture model, we also classify the countries in the sample and verify for each cluster the impact that the population growth rate and the intermediate sector's markups exert on the 5-year average real gross domestic product (GDP) growth rate. [ABSTRACT FROM AUTHOR]

The development of every economic sector is significantly affected by information and communication technology (ICT), especially during the liberalization process. Though several studies have focused on economy–environment–financial development nexus, yet very limited literature has highlighted the impact of ICT on the relationship between economic growth, energy consumption, and financial development. We address this gap in the existing literature by investigating the nexus between ICT, energy consumption, and economic growth for a panel of 10 emerging and developing Asian countries selected on the bases of the highest current gross domestic product price (in US dollars), for a span of 17 years ranging from 2000 to 2017. Unlike the previous studies, this study employs the advanced econometric techniques that are robust to heterogeneities across nations and have proven to produce more reliable and efficient results. Our findings opine a bidirectional causality between ICT, energy consumption, and economic growth. Additionally, internet and mobile cellular subscriptions have a positive impact on economic growth, while energy consumption report negative impact, and the results for medium and high technological export reveals an insignificant impact on the economic growth of the 10 countries under study. Overall, the results are consistent for all the countries analyzed in this empirical study. The study provides valuable policy lessons to adopt ICT‐enabled technologies that will bring innovative changes and further lead to increased economic growth. It is recommended that the government must promote green ICT technology and enhance the technological industry that shall lead to higher productivity and sustainable development. [ABSTRACT FROM AUTHOR]

In the context of the market economy, foreign direct investments make an important contribution to economic growth. For Romania, foreign direct investments had a crucial importance both during the transition period and in the period following the achievement of the functional market economy status. Although the foreign direct investment (FDI) stocks represent an important share of Romania's GDP, in the competition with the other former socialist countries which have joined the European Union, our country is situated below the level recorded by this indicator in all the 11 states analyzed. Given the positive effects generated by the FDI stocks, Romania still needs the contribution of foreign investors in order to evolve. The aim pursued in elaborating this paper was to highlight the positive impact of the flow of foreign direct investments on the economic growth in Romania and implicitly to emphasize the role that foreign investors can continue to play in the economic development of our country. [ABSTRACT FROM AUTHOR]

Welfare of the population and investment are known to be drivers of economic growth. The paper explores the concept of economic growth and the development of determinants of this economic phenomenon. Since the beginning of the 20th century, economic models based on the premise that investment factors lead to the growth of a nation have been widely used. Since GDP is a quantitative indicator that allows making conclusions about a country's economic growth, this paper studies GDP dynamics in Ukraine, compared to other regions, and identifies its link with the FDI. The article analyzes the dynamics of direct foreign investments on regional and global scales, and compares them with trends in world gross product changes, which is a direct expression of a region's growth status. To test our hypothesis on the interrelation between GDP and macroeconomic indicators such as FDI, inflation index, and discount rate, we conducted panel studies using data from Ukraine, Georgia, Serbia, and Romania. The findings suggest that foreign direct investments constitute one of the sources of a country's GDP growth and, therefore, it can be considered an important determinant of a country's economic development. [ABSTRACT FROM AUTHOR]

Copyright of EUL Journal of Social Sciences / LAÜ Sosyal Bilimler Dergisi is the property of EUL Journal of Social Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Africa is an emerging, frontier economy that is gradually becoming a gold miner of the fourth industrial revolution (industry 4.0) to achieve speedy economic growth and development. Through the transmission channel of technological drive that relies on the penetration of modern communication means (information and communication technology [I.C.T.]). It is on this basis that this study examines the performance of I.C.T., economic growth and development in Africa. In capturing I.C.T. performance; penetration of I.C.T. indicators – mobile telephone, fixed-line telephone and Internet access subscriptions are used as measurements and reduced to a single index through principal components analysis (P.C.A.). Economic growth and development is measured with the real gross domestic product and the human development index (H.D.I.), respectively. The data for this study were sourced from the international telecommunication union (I.T.U.) and world development indicators from the World Bank databases. The results show that mobile telecommunication is growing faster than other telecommunication indicators and I.C.T. penetration has positive impacts on economic growth and development in Africa. The study, therefore, recommends that simultaneous investments are required in the fixed-line and Internet access telecommunications in Africa in order to fully tap into the optimal impetus of I.C.T. penetration for economic growth and development in Africa. [ABSTRACT FROM AUTHOR]

The aim of this paper is to investigate whether financial development and trade openness enhance economic growth in 11 new EU member states. While the overwhelming studies employ a simple measure of finance (credit to GDP ratio or stock market capitalization), we run growth regressions using a new IMF broad-based measure, which covers three dimensions of financial development: depth, access, and efficiency. We use a bootstrap panel-data approach based on seemingly unrelated regression (SUR) systems, which takes into account cross-sectional dependency and slope heterogeneity among countries. Such an approach gives separate regression coefficients for each country. The main findings are as follows: (1) the statistically significant unidirectional Granger causality from finance to economic growth is evidenced in five countries under examination (Bulgaria, Lithuania, Poland, Romania, and Slovenia); (2) trade openness is statistically significant Granger-cause of growth in six new EU member states (Croatia, Latvia, Lithuania, Romania, Slovakia, and Slovenia); (3) the reverse causalities, i.e. running from growth to finance were found in two countries (Hungary and Slovenia), and from growth to trade openness in Croatia. The policy-oriented recommendation is that new EU member states from Central and Eastern Europe may gain pro-growth benefits from further finance and trade development, however, the policy-makers should be aware of possible nonlinearities and conditionality of these relationships. [ABSTRACT FROM AUTHOR]

We investigate the relationship between economic growth and real exchange rate (RER) misalignments within the European Union (EU) during the period of 1995–2016. In addition to the relative price level of GDP, we quantify an alternative indicator for the RER: the internal relative price of services to goods. We interpret RER misalignments as deviations from the levels consistent with the levels of economic development among the EU countries. Using pooled OLS and dynamic panel techniques, we find that within the EU over- (under-) valuations are associated with lower (higher) growth. This is mainly due to developments in the countries operating under the fixed exchange rate regimes. Our results indicate that the level of development does not influence the strength of the growth-misalignment relationship within the EU. Regarding the price level of GDP, we find that the positive relationship between undervaluation and growth diminishes with the degree of undervaluation. We find that overvaluation has a statistically significant negative effect on export market shares and private investments, indicating that both the competitiveness and the investment channels play a role in the relationship between growth and RER misalignments. As an extension, we show that the effects of "wage misalignments" from levels consistent with productivity are also negatively related to economic growth. The policy implications of the analysis point to the importance of a growth strategy avoiding overvaluation on the one hand, and to the futility of aiming at excessive undervaluation, on the other. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to evaluate the effect of floods and the role of financial development on per capita gross state domestic product (GSDP) growth, controlling for growth-enhancing factors across Indian states. Design/methodology/approach: The paper uses the pooled mean group (PMG) method using state-level panel data for 19 Indian states over the period 1981-2011. Findings: The PMG estimate shows that floods negatively affect the per capita GSDP growth in the long run. The results show that the mean of economic losses, the population affected and the area affected by floods increase by 10 per cent, leading to a decline in per capita GSDP growth by 0.0303, 0.0633 and 0.0232 per cent, respectively, in the long run. Furthermore, the population affected by floods exerts a higher adverse impact on the per capita GSDP growth compared to other flood measures. The results further show that states with better financial development experience a higher per capita GSDP growth, supported by additional capital expenditure, enrolment in higher education, better road infrastructure and higher urbanization. The crime rate is negatively correlated with per capita GSDP growth. Originality/value: The results based on PMG estimates suggest that not only floods but also crime activities adversely affect the per capita GSDP growth across Indian states. Better financial market increases the per capita GSDP growth in the long run. This study not only contributes to empirical growth literature but also provides some useful policy suggestions. Moreover, the results lead to the conclusion that long-term flood management policies are essential to mitigate the adverse impact of floods on per capita GSDP growth across Indian states. [ABSTRACT FROM AUTHOR]

A number of studies have investigated the relationship between financial sector development and economic growth; however, the impact of bank profitability on economic growth is still unclear. We investigate the link between bank profitability and economic growth in the Asia-Pacific region over the period 2004-2014. Using the system GMM estimator, our findings suggest that a profitable banking sector is a prerequisite for economic growth in the Asia-Pacific region and that the impact of bank profitability on economic growth is more prominent in small banking sectors. Perhaps surprisingly, we found that the bank size has a negative impact on GDP growth, with the influence of bank profitability on economic growth reducing as the size of the banking sector increases. Our results also show that the impact of profitability on economic growth is much larger in developed economies compared to small emerging and large emerging economies. [ABSTRACT FROM AUTHOR]

In this paper, the authors revealed the concepts of development and economic growth, economic sustainability and quality of life. The authors determined and analyzed in dynamics the period 2010-2018, the trend of changing indicators, development and economic growth at the macroeconomic level such as: the value of Gross Domestic Product (GDP), GDP per capita, and the dynamics of the average monthly nominal salary of an employee per economy, disposable incomes per person, their structure and socio-economic indicators that characterize the quality level of the age of the population in the Republic of Moldova. Although there are modest increases in the number of nominated indicators, the authors consider that there are still a number of issues that need to be addressed, solved and complied with EU and other international standards. The research contains data that will surely be of interest to those concerned with the quality of life of the population. In essence, research in the field of quality of life aims at creating a complex image of quality of life, by analyzing different components of population's life. The following research procedures and methods have been applied in the research process: observation method, comparison, graphical method, table method, chronological series method, etc. [ABSTRACT FROM AUTHOR]

The heterogeneity and complexity of malaria involves political and natural environments, socioeconomic development, cross-border movement, and vector biology; factors that cannot be changed in a short time. This study aimed to assess the impact of economic growth and cross-border movement, toward elimination of malaria in Yunnan Province during its pre-elimination phase. Malaria data during 2011-2016 were extracted from 18 counties of Yunnan and from 7 villages, 11 displaced person camps of the Kachin Special Region II of Myanmar. Data of per-capita gross domestic product (GDP) were obtained from Yunnan Bureau of Statistics. Data were analyzed and mapped to determine spatiotemporal heterogeneity at county and village levels. There were a total 2,117 malaria cases with 85.2% imported cases; most imported cases came from Myanmar (78.5%). Along the demarcation line, malaria incidence rates in villages/camps in Myanmar were significantly higher than those of the neighboring villages in China. The spatial and temporal trends suggested that increasing per-capita GDP may have an indirect effect on the reduction of malaria cases when observed at macro level; however, malaria persists owing to complex, multi-faceted factors including poverty at individual level and cross-border movement of the workforce. In moving toward malaria elimination, despite economic growth, cooperative efforts with neighboring countries are critical to interrupt local transmission and prevent reintroduction of malaria via imported cases. Cross-border workers should be educated in preventive measures through effective behavior change communication, and investment is needed in active surveillance systems and novel diagnostic and treatment services during the elimination phase. [ABSTRACT FROM AUTHOR]

The purpose of the study is to examine the relationship between tourism development and economic growth in Greece, using the Autoregressive Distributed Lag (ARDL)-Bounds testing procedure. The present paper attempts to examine the relevance of the tourism led growth hypothesis according to the Kaldorian theory. The analysis was carried out for the period from 1963 to 2016 and involves the short-run as well as the log-run impact. As a proxy for the output of the tourism sector, its receipts are employed, while as an index for economic growth, the GDP is employed. The empirical results show that the economy of Greece can recover and return to the long-run equilibrium with a speed of adjustment 7.17% per year. [ABSTRACT FROM AUTHOR]

The present endeavor measures the extent of the nexus between financial development and economic growth by utilizing annual macroeconomic panel data for selected 14 Asian economies. The study focuses on the link between the indicators of financial development and economic growth. The results of panel cointegration analysis suggest that there is two-way cointegration relationship from GDP to GCF and BM in short-run as well as in long-run however, the relationship is one-way, that is, from GDP to DCPS as well as from GDP to DCBS. The findings of the present study establish strong indications of the positive long-run relationship among all the selected indicators of financial development and economic growth. Moreover, the present attempt also indicates that gross capital formation and broad money are critical for economic growth and suggests that upliftment of economic growth of the economies improves the development of financial sector. [ABSTRACT FROM AUTHOR]

We analyse the dynamics of financial development and economic growth in the Euro area as these countries went through considerably higher levels of financial development. Using a balanced panel data of 38 years from 1980 to 2018, we offer new evidence on the finance–growth nexus. We show the presence of non‐linearity as there is an inverted U‐shaped relationship between finance and growth in the long run. Estimating the thresholds in the finance–growth nexus, we notice a threshold effect at 74%–86% of GDP for domestic credit; 51% of GDP for stock turnover ratio; and 65% of GDP for stock market capitalisation. We notice that exceeding the threshold causes deceleration in economic growth as too much finance results in crowding out effect for productive economic activities. The panel Granger causality test results show that financial development should be associated with optimal growth performance. These findings in the Euro area provide some useful policy implications to the emerging and developing economies in designing their financial development strategies. [ABSTRACT FROM AUTHOR]

The research aims to study the inter-relationship between economic development and human development indicators for a selected countries (Jordan, Egypt, Kingdom of Saudi Arabia and Bahrain) by using two stage least Square Test. The results of the test showed that there is a causality relation between the economic development and human development. We found economic development has clear effect on human development indicators in the selected Arab countries. [ABSTRACT FROM AUTHOR]

The paper empirically investigates the co-integrating relationship between India's financial development and its economic growth. Whereas economic growth has been taken to be natural log of India's GDP; natural log of domestic credit to private sector has been considered as the proxy for financial development variable. The methodology employed has been autoregressive distributed lag (ARDL) bounds testing c-integration approach, and we have analysed log transformed yearly data for the 58-year period, i.e., 1960-2017. First the two time series were checked for unit root both at level and 1st difference and the test employed was Perron (1997) Unit root test with a single break. Then, the ARDL test was carried out with the two variables; Log GDP and Log Domestic Credit to Private Sector. Further model optimality model was tested using both AIC and SC criteria and model stability using CUSUM Plots. Also, ACF and PACF Plots along with 'Q' statistics results were used in the study for detection of serial correlation. The results of the study revealed positive co-integrating relation between India's economic growth and financial development when GDP was taken as dependent variable under ARDL Breakpoint Model. The 'F' statistics of this model was 39.02885 which was significantly higher than the upper bound limit as given in both Pesaran, M. H., Shin, Y., and Smith, R. J. (2001) and also Narayan (2004) tables. The ECM term was negative and statistically significant and time to achieve long-run equilibrium was approximately 17 ½ years. On the other hand, when dependent variable was domestic credit to private sector, no co-integration was detected in the results as the computed 'F' value of 2.917512 was less than the lower bound. Further, no serial correlation was noticed even at lag 10, when the same was checked by ACF and PACF Plots supported by 'Q' statistics. The model was found to be stable using CUSUM Stability plot and the long-term results of the ARDL model for both the variables were found to be quite robust. [ABSTRACT FROM AUTHOR]

The study examines Stock Market development and economic growth in Nigeria and South Africa using quarterly time series data for the period 1995Q1 to 2015Q4 sourced from World Bank Indicator. The granger causality test and ordinary least squares multivariate regression and panel estimation methods were employed to determine how stock market development impacts on and granger causes economic growth of the emerging countries. Stationarity test was conducted using the Augmented Dickey Fuller test to ensure the regression result was devoid of spuriousness. Findings arising from the empirical estimations indicate that in Brazil, Russia, India, China and South African (BRICS), Total Value of Stock Traded Ratio (TVSTR) Granger causes Turnover Ratio (TR) unidirectionally while bi-directional relationship exists between Inflation Rate (INFR) and Real Gross Domestic Product Growth Rate (RGDPGR). In Nigeria, stock market development does not granger cause economic growth, and vice versa. However, there is causality flowing from Turnover Ratio TR to grange cause TVSTR. It is therefore suggested that the Nigerian government could profit largely by maintaining multi-lateral trade and co-operation to foster more flow of foreign investment and tap into the various national resources of each of the BRICS country. [ABSTRACT FROM AUTHOR]

This paper analyse the role and importance of the agricultural sector for the economic development of the Republic of North Macedonia. The focus of the research is on the indicators that present the agricultural sector as real GDP and gross added value in the agricultural sector in the Republic of North Macedonia, for the period from 2000 to 2016. General conclusion is that GDP growth in the Republic of North Macedonia in the analysed period arise from the household production and gross investment. Also, agriculture is one of the four dominant sectors beside trade, industry and construction that contribute to economic growth in the Republic of North Macedonia. The share of the agriculture, forestry and fishing sector in the real GDP in the Republic of North Macedonia is around 13%. The largest contribution from agriculture to the GDP of the Republic of North Macedonia arise from the Southeast, Pelagonia and Polog region. Therefore, measures and activities for stimulating economic growth should mostly be directed towards these regions. The relative share of the gross value added of agricultural production in the Republic of North Macedonia is around 10% of GDP and it considered to be important sector for economic development. [ABSTRACT FROM AUTHOR]

This study probes the causal relationship between economic growth and tourism development in Tajikistan from 2002 to 2017. Data for the gross domestic product (GDP) and tourism receipts were obtained from World Data Atlas. To test the data stationarity, this study employs the unit root test followed by a cointegration test to check whether there is a long-run relationship between GDP and tourism receipts. Furthermore, the Granger causality test was used to check the direction of the relationship between tourism development and economic growth. The findings of the study confirm a long-run relationship between tourism development and economic growth in Tajikistan. Moreover, the Granger causality test results showed a unidirectional relationship between two variables running from GDP growth to tourism development. The upshot from the results substantiates economic-led tourism growth in Tajikistan. [ABSTRACT FROM AUTHOR]

This study develops a new approach for testing the validity of unbalanced growth theory as well as determining the sectoral priorities for investment in Indonesia over the period 1995-2015. To this end, the high linkage sector(s) is identified through the input-output framework. Afterward, two different approaches, multiple linear regression and multi-layered perceptron (MLP) artificial neural network, are applied to capture the linear and nonlinear relationships between the extracted engine sectors and gross domestic product growth. Given that the detection of sector ranking is crucial for preparing a proper development plan, in the same vein we apply two types of feature-ranking methods (namely, stepwise regression and ant colony optimization (ACO-MLP based). The findings suggest a consistent relationship between the theory and economic growth in both linear and nonlinear models. However, the nonlinear model outperforms its competitor. In general, we find that the manufacturing sector is the most strategic sector in Indonesia, as it has been ranked first in both linear and nonlinear forms. Hence, its development path could be reinforced by more investment in this leading sector and then followed by investment in construction, hotels and restaurants, and agriculture. [ABSTRACT FROM AUTHOR]