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Africa began implementing the Sustainable Development Goals (SDGs) in 2015 emphasizing on sustainable management and effective use of natural capital to spur economic growth (Goals 12, 14, and 15). This study using World Bank data sets from 46 African countries selected for the years 2000 to 2022, examined the nexus between natural resource endowments and economic growth in Africa. We used the system generalized method of moments (sys-GMM) and dynamic panel threshold regression (DPTR) to analyze the data. The findings of the two-step sys-GMM estimation using 'xtabond2' revealed that when the institutional quality variable is added and excluded from the model, natural resource dependence negatively impacts economic growth, but the impact is greater when the institution is excluded. In the estimation of the interaction variable of natural resource dependence and institutional variable included in the model, natural resource dependence positively impacts economic growth. The results of the DPTR using "xthenreg" showed that when the threshold value of natural resource dependence is ≤ 1.73% of gross domestic product, natural resource dependence has a positive impact on economic growth and a negative impact when the threshold value is above 1.73%. Similarly, when the institutional quality threshold is ≤ 0.277, natural resources dependence impacts economic growth negatively; above the threshold (0.277), the impact is positive. In conclusion, natural resource endowment is a curse with no or low-quality institutions and a blessing with high-quality institutions. Thus, building strong institutions and proper utilization of natural resources helps to minimize the adverse impact of resource endowments on economic growth. [ABSTRACT FROM AUTHOR]

Copyright of Mexican Journal of Economics & Finance / Revista Mexicana de Economia y Finanzas is the property of Instituto Mexicano de Ejecutivos de Finanzas 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 study focuses on the energy consumption (EC) and environmental pollution caused by carbon consumption in China's development. The Yangtze River Delta (YRD) region is selected as the primary focus of investigation. To gain insight into the relationship between China's economic growth (EG) and carbon reduction (CR), two major research elements, the impact of each on the other is examined. The study mainly uses decoupling models and influence models to analyze the decoupling relationship and effectiveness between CR and EG. The research results showed that there was a difference between long-term and short-term effects. The short-term effect in the YRD region was manifested as a continuously improving decoupling state, while the long-term effect was manifested as the significant impact of population and per capita Gross Domestic Product on CR. The effect value of EC factor was 0.43, while the effect value of CR factor was 0.07. In functional comparison, the role of EC factors was more significant. [ABSTRACT FROM AUTHOR]

This study investigates the relationship between Foreign Direct Investment (FDI) inflows and economic growth at sectoral levels in Bangladesh, employing a panel study framework. Utilizing sectoral-level panel data spanning six sectors from 2007–08 to 2018–19, the analysis is conducted using Panel Vector Error Correction Model (Panel VECM). Results from panel unit root tests confirm that all variables are integrated of order one I (1), indicating stationarity. The Pedroni panel co-integration test further supports the presence of co-integration among the variables. Notably, the Panel VECM reveals evidence of a unidirectional causal relationship from Real Gross Domestic Product (RGDP) to Real Foreign Direct Investment (RFDI) across all six sectors of Bangladesh. The findings underscore the significance of formulating pragmatic policies and implementing them effectively to attract FDI across sectors, thereby contributing to the overall economic growth of Bangladesh. [ABSTRACT FROM AUTHOR]

In this paper, we study asymptotic model change detection in multivariate linear regression by using the Kolmogorov–Smirnov function of the partial sum process of recursive residuals. We approximate the rejection region and also the power function of the test by establishing a functional central limit theorem for the sequence of the partial sum processes of the recursive residuals of the observations. When the assumed model is true, the limit process is given by the standard multivariate Brownian motion which does not depend on the regression functions. However, when the assumed model is not true (some models change), the limit process is represented by a vector of deterministic trend plus the standard multivariate Brownian motion. The finite sample size rejection region and the power of the test are investigated by means of Monte Carlo simulation. The simulation study shows evidence that the proposed test is consistent in the sense that it attains the power larger than the size of the test when the hypothesis is not true. We also demonstrate the application of the proposed test method to Indonesian economic growth data in which we test the adequacy of three-variate low-order polynomial model. The test result shows that the growth of the Indonesian economy is neither simultaneously constant nor linear. The test has successfully detect the appearance of a change in the model which is mainly caused by the COVID-19 pandemic in 2020. [ABSTRACT FROM AUTHOR]

Copyright of Galician Journal of Economics / Revista Galega de Economía is the property of Universidad de Santiago de Compostela, Servicio de Publicaciones 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.)

This paper tests the hypothesis that action-based fiscal consolidations have a negative effect on GDP growth. Using the IMF's dataset on action-based fiscal consolidations, instrumental variables' regressions show that action-based fiscal consolidations have a significant positive effect on GDP growth. The instrumental variables' regressions also show that action-based fiscal consolidations significantly increase investment and productivity. The findings presented in this paper thus strongly reject the hypothesis that action-based fiscal consolidations reduce growth. The paper argues that least squares estimates presented in previous literature suffer from negative reverse causality bias: GDP growth has a significant positive effect on both the likelihood and the magnitude of action-based fiscal consolidations. To uncover causal effects of action-based fiscal consolidations, researchers need to use an instrumental variables approach. [ABSTRACT FROM AUTHOR]

This paper investigates whether carbon dioxide (CO2) intensity of gross domestic product (GDP) matters for environmental deregulations in Southern European countries over the period of 1990–2018 while controlling economic growth, globalization, and energy consumption. The present study uses the second generation panel based techniques, namely cross-sectional dependency test, cross-sectional unit-root test, Westerlund cointegration test, augmented mean group and common correlated effects mean group estimators, and Dumitrescu–Hurlin causality test to measure the effect of CO2 intensity of GDP, economic growth, globalization, and energy consumption on environmental degradation. The empirical finding of the present study reveals that the CO2 intensity of GDP is an important factor in determining environmental degradation in South European countries, as the outcomes show that a 1% boost in CO2 intensity of GDP is causing a 1.7728% increase in CO2 emissions. Moreover, a 1% increase in economic growth caused a 0.2568% boost in CO2 emissions. The result is crucial for policy decision-making and can perhaps be applied to take decisive policy actions to mitigate environmental issues. [ABSTRACT FROM AUTHOR]

This study aims to analyse the effects of Foreign Direct Investment on Economic Growth (Gross Domestic Product) in Tanzania. The World Bank’s data on foreign direct investment and gross domestic product from 1988 to 2021 was employed in order to achieve the purpose of the study. The Vector Autoregressive Regression (VAR) Model was selected, in which a neoclassical growth model was applied within the implementation of this model. According to the findings of the research that was carried out, the Gross Domestic Product was primarily influenced by its prior values, which suggests that the economy is capable of some degree of selfsufficiency in terms of driving changes in the economy. According to the findings, foreign direct investment had a relatively minimal direct impact on gross domestic product, which suggests that other factors played a more significant role in influencing economic performance. There was no bidirectional causal relationship between gross domestic product and foreign direct investment; they both functioned independently of one another. It has been established that endogenous shocks have a significant role in driving changes in both GDP and FDI, which underscores the impact that internal forces have on the economic system. The importance of taking into account internal factors while conducting an analysis of economic growth has been brought to light as a result of these findings, which have contributed to a better understanding of the complex relationship that exists between GDP and FDI. [ABSTRACT FROM AUTHOR]

Over the past four decades, increasing forecast emphasis has come to be placed on the potential importance of different sectors and their contribution to the sustainable growth of the Nigerian economy. A more common strand of research is existing studies that consider the resource curse hypothesis to show empirically, the actual relationship between natural resources and economic growth. However, these studies have looked at various resource endowment especially oil and metals, with just a few focusing on the non-oil export sector. A preliminary graphical study of the contribution of the non-oil sector to Nigeria's GDP shows that over time, the linkage of non-oil export to the economic growth has been low (less than 20%). Hence, this study will analyze the long-run relationship and also the importance of both oil and non-oil exportation and their impact to sustainable economic growth. The model introduced in this article uses the time series data for non-oil export, oil export, alongside other macroeconomic variables on gross domestic product (GDP). In order to adequately investigate the long-run relationship, statistical forecast was adopted to project the data for future years and thereafter econometric method was adopted to validate the projected data and analyze the direction of causality between the sectors (oil and non-oil) export and economic growth. The result reveals the possible short and long run interaction amidst sectors' export and economic growth, based on the different tests conducted, in order to recommend policies aimed at boosting the level and significance of the sectors' export. [ABSTRACT FROM AUTHOR]

This research explores the impact of infrastructure on member states' economic growth in the Economic Community of West African States (ECOWAS). Utilizing panel secondary data sourced from the World Bank Development Indicators (WDI) and the African Infrastructure Development Index (AIDI) across all fifteen ECOWAS Member States over eighteen years, the study employs the panel Non-linear Autoregressive Distributed Lag (NARDL) model and the Westerlund co-integration test for analysis. The findings reveal that investments in infrastructure, improvements in the African Development Index, and enhancements in the Electricity Composite Index significantly contribute to the economic growth of ECOWAS countries. Specifically, infrastructure investment is associated with a 0.01 percent increase in the Gross Domestic Product (GDP) of the ECOWAS countries studied. In comparison, the African Development Index and the Electricity Composite Index are linked to increases in GDP by 0.292 percent and 0.987 percent, respectively, in the long term. Based on these outcomes, the study recommends that ECOWAS country authorities enhance policies to optimize government spending on infrastructure quality. Furthermore, adopting qualityenhancing and efficiency-driven financing policies in infrastructure is advocated to complement ECOWAS's ongoing infrastructural development efforts. The realization of these recommendations hinges on the availability of accurate data for informing decisions and guiding policymakers. Hence, the study underscores the need for the ECOWAS Commission to bolster its capacity for collecting reliable data on infrastructure variables and other indicators. It also proposes that future research should focus on promoting sub-regional peer-review mechanisms for infrastructure indicators among member states and establishing structures to fortify infrastructure in West Africa. [ABSTRACT FROM AUTHOR]

This research thoroughly examines the dynamic relationship between the European Union's economic growth and rapid advancements in Information and Communication Technology (ICT). Specifically, it assesses how certain ICT indicators are associated with significant economic growth. Utilizing an extensive dataset from the Digital Economy and Society Index 2022 (DESI), the Statistical Office of the European Union (EUROSTAT), and the Organisation for Economic Co-operation and Development (OECD), this study encompasses data from all 27 European Union member states. Employing structural equation modelling, our analysis illustrates the positive correlation between ICT development and the Gross Domestic Product (GDP) index. Our findings highlight the critical role of swiftly evolving technological landscapes, emphasizing the growing influence of new Artificial Intelligence (AI) technologies in business sectors. Furthermore, this study showcases the need to enhance human capital and expedite the growth of e-government technologies. These advancements are pivotal in strengthening the infrastructure supporting citizens and public enterprises across European countries, thereby contributing to their economic vitality. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Business Administration & Social Studies is the property of Aves Yayincilik Ltd. STI 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.)

Economic statistics are commonly published without estimates of their uncertainty. We conduct two waves of a randomized controlled online experiment to assess if and how the UK public understands data uncertainty. A control group observes only the point estimate of GDP. Treatment groups are presented with alternative qualitative and quantitative communications of GDP data uncertainty. We find that most of the public understands that GDP numbers are uncertain. Quantitative communications of data uncertainty help align the public's subjective probabilistic expectations of data uncertainty with objective estimates, but do not decrease trust in the statistical office. [ABSTRACT FROM AUTHOR]

The goal of this paper is to quantitatively evaluate the impact of PT's governments on the GDP per capita of the Brazilian economy. To do that, we use a synthetic control approach to create a contrafactual of Brazil's GDP per capita and, after that, we compare the economic growth under PT's administration against the contrafactual. Once we estimate the standard model using one donor pool of emerging market economies, performed a placebo test and executed some robustness exercises, we did not find strong evidence that the effect of PT's governments on GDP per capita was negative. [ABSTRACT FROM AUTHOR]

Within a wider framework of institutional factors of economic growth and the relationship between population growth and GDP growth, this article focuses on the population growth and GDP growth per capita for 30 countries in Africa between 1960 and 2020. We provide a comparative analysis of approaches to methodology and results obtained in the impact of population growth on GDP/pc growth discourse. By performing the Bootstrapped Panel-Granger Causality test, the estimation results show that half of the countries showed no causality and other half of countries showed different levels of significant causality. The most seen causality is the unidirectional causality from GDP growth per capita to population growth. In addition, unidirectional causality is observed from population growth to GDP growth per capita and bidirectional causality. Overall, the results add more evidence into the research of endogenous population growth theory, which implies that there is country-specific environment which determines the causality between these two variables. [ABSTRACT FROM AUTHOR]

This paper aims to analyze the relationship between agricultural methane and nitrous oxide emissions as a function of per capita gross domestic product (GDP) and its quadratic term in 26 Latin American and Caribbean countries (1990-2019). It also considers the stock of foreign investment to test the polluting paradise hypothesis, agricultural land (AL), and, additionally, methane for nitrous function. The study comprised unit root and cointegration tests. Coefficients were estimated by using fully modified least squares (FMOLS), correlated common effects (CCE), and augmented mean group (AMG). Results by FMOLS show statistical evidence of an environmental Kuznets curve in the set of countries for methane and support the polluting paradise hypothesis. However, results from CCE and AMG show the opposite. For nitrous oxide, FMOLS confirms a U-shaped curve. The above supports a joint environmental policy for both gases, where AL is a key element. The previous results must be corroborated with other methods and the studies extended to other countries over time. [ABSTRACT FROM AUTHOR]

This article analyzes the relationship between the services sector and Ecuadorian economic growth using cointegration and causality econometric techniques from 1990-2018. The results indicate that services as a whole, particularly trade and transportation, positively impact economic growth in the long run. However, in the short term, services as a whole have a negative effect, which may be explained by the continuous deterioration of their productivity. Meanwhile, there is a causality effect ranging from trade to economic growth, and from GDP per capita to services as a whole and transportation. [ABSTRACT FROM AUTHOR]

The study deployed two multivariate linear models in estimating the nexus of economic growth, technological development and in-country utilization of natural gas, using annual time series data on five variables - real gross domestic product per capita (RGDPC), natural gas consumption (NGC), technological development (TECH), trade openness (TOP), and industrialization (IND) - from 1986 to 2019. Using the method of error correction modeling (ECM), it is observed that technological development, gas consumption, trade openness, and industrialization have growth-stimulating effects on economic activities in Nigeria. The study further revealed that technological development, trade openness, and level of industrialization positively influenced natural gas consumption in Nigeria during the period. Based on our findings, we sustain the argument that (i) gas utilization and technological development are strong predictors of economic growth, and (ii) technological development greatly determines the level of natural gas consumption in the economy. We therefore recommend design and implementation of policies that promote research and development so as to ramp up technological innovation and development initiatives towards achievement of planned economic growth. In addition, improvements in technological development and convergence of global economies due to liberalization policies demands commensurate infrastructural expansion of natural gas production to reduce or eliminate possible mismatch between production and consumption of natural gas profiles. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economia e Sociologia Rural is the property of Sociedade Brasileira de Economia e Sociologia Rural 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 Ensayos - Revista de Economía is the property of Ensayos Revista de Economia 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.)

Stunting is a critical issue affecting children under five years old, characterized by inadequate growth due to chronic malnutrition and recurrent infections, especially during the crucial first 1,000 days of life (from age 0 to 23 months). Stunting impacts not only height but also vital functions such as brain development and the immune system, potentially leading to decreased intelligence levels and increased susceptibility to diseases later in life. This study examines the impact of the growth of the Gross Regional Domestic Product (GRDP) in the primary, secondary, and tertiary sectors and the level of rural poverty on stunting in Indonesia. This research, which covers time series data from 2015-2020 across 32 provinces in Indonesia, employs a panel data regression model analysis method. The findings indicate that primary sector GRDP growth has a positive effect, whereas secondary sector GRDP negatively impacts stunting. However, the tertiary sector GRDP and rural poverty do not significantly affect stunting rates in Indonesia. [ABSTRACT FROM AUTHOR]

Copyright of Sophia, Colección de Filosofía de la Educación is the property of Universidad Politecnica Salesiana 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 Acta Economica is the property of University of Banja Luka, Faculty of Economics 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.)

We analyse the non-linear relationship between oil price shocks and the real business cycle in Ecuador, a dollarized economy where oil exports are the country's main source of foreign exchange. We estimate several autoregressive Markov switching models for the period 2000:01-2020:01 to identify the differentiated impact of nominal oil price shocks on real GDP in expansion and slowdown regimes. We find evidence that oil price shocks have an asymmetric effect on Ecuador's economic growth, with a larger impact during slowdowns. They also affect all components of aggregate demand differently in each regime, with a larger impact on investment during expansions. [ABSTRACT FROM AUTHOR]

These challenging economic times put most countries in a position to stimulate and strengthen economic growth through fiscal policy measures. We all know that fiscal policy aims to raise as much revenue as possible for the state budget in order to stimulate economic growth. As a result, Romania adopts fiscal policy measures such as: stimulating investments, stimulating consumption, controlling inflation, reducing the budget deficit, etc. Economists (Musgrave Richard & Musgrave Paggy, 1984) identified three functions of fiscal policy which are inter conditioned and related to the state economy: allocation, distribution and stabilization.[13] The paper aims to address in a suggestive manner the impact of fiscal policy on economic growth, and the main objective of the article is to highlight the evolution of economic growth in Romania in the last 10 years as a result of the application and implementation of fiscal policy measures in order to maximize the positive impact on economic growth. Fiscal policy is the basis for a state's economic actions, interacting with all other policies, i.e. monetary policy, social policy, development policy, budgetary policy, etc. This interaction must be translated into a set of economic growth measures. [ABSTRACT FROM AUTHOR]

This paper aims to investigate the effect of the gross domestic product growth rate on inflation in these four selected ASEAN countries. This study is worthy as there is a need to understand the variance of national inflation for these ASEAN countries, particularly when Singapore's inflation rate is the lowest among them. The Keynesian Theory and Static Panel Data analysis are put to the test in this empirical study. The investigation is carried out on yearly balanced panel data involving four ASEAN member countries. The secondary data is extracted from the World Bank database over a study period of sixty years from 1961 to 2020. The methodology is based on static panel data analysis involving both Fixed Effect and Random Effect models. The empirical results show that there is a negative significant relationship between economic growth and inflation within the four countries sampled. As such, the policy implication from this study may suggest that it is important for ASEAN-4 governments to continue beefing up their economic growth in order to curb inflationary pressure. [ABSTRACT FROM AUTHOR]

Capital investment financing has been cited as a critical element in economic growth the world over although there is no consensus regarding the significance, direction, and magnitude of the relationship. The article investigated the relationship between foreign direct investment, gross capital formation, personal remittances, and gross domestic product in Zimbabwe from 1960–2020. The random effects model was used to examine this relationship using data collected from the World Development Indicators database. The random effects model was selected after performing the Hausman test. All the regression coefficients of the country's gross domestic product reveal a direct or positive relationship with the three independent variables. Furthermore, the study reveals that gross capital formation had the highest contribution to Zimbabwe's gross domestic product compared to that of foreign direct investment and personal remittances for the period under study. The coefficients of determination of the independent variables were significant. In other words, foreign direct investment accounted for 57.24%, gross capital formation 68.47%, and personal remittances 48.76% to foreign direct investment for the same period. The article closed the gap in knowledge by drawing attention to the relationship between foreign direct investment, gross capital formation, personal remittances, and gross domestic product in Zimbabwe. [ABSTRACT FROM AUTHOR]

Gross Domestic Product is regarded as the major indicator which determines the standards of living in a country. Consequently, energy use is far regarded as one of the major determinants of economic growth in an economy. However, fossil fuel energy greatly contributes to environmental degradation, global warming and the spread of various diseases. The present-day research is aimed at examining the effect of energy efficiency, renewable energy and effective capital on Gross Domestic Product in the emerging seven countries (Brazil, Russia, Mexico, Turkiye, Indonesia, China and India), during the period 1990 to 2019. The main novelty of the research is that it examines the effect of effective capital on Gross Domestic Product, a study which has not been done. Effective capital which is the combined effect of energy and physical capital in the production process is inevitable in raising economic growth. Additionally, the effect of energy efficiency on economic growth in the emerging seven countries has been partially investigated. The findings of this research are robust and unique to those of past researches, because Cross-sectional Augmented Autoregressive Distributive Lag technique which is strong in the presence of cross-sectional dependence, heterogeneity and dynamics is employed. The outcomes provided in this research shows that, energy efficiency and effective capital significantly promotes economic growth, while non-renewable energy provides significant positive effect in the short-run, with no significant effect in the long-run. This study recommends the efficient utilization of energy, ensuring that each single unit of energy employed produces the highest possible output. [ABSTRACT FROM AUTHOR]

This study investigates structural changes in the cyclical volatility of economic growth in Uruguay, Argentina, and Brazil between 1980 and 2018. Focusing on Uruguay, we analyze the presence of structural breaks in the cyclical volatility of GDP while controlling for international volatility, following the procedures originally applied in McConell & Pérez-Quiroz (2000) and Stock & Watson (2002; 2003). The results indicate that following the economic crisis of 2002, Uruguay underwent a shift in the cyclical volatility of GDP, resulting in a reduction of over 50%. Brazil experienced a break in cyclical volatility earlier, in 1994, while Argentina did not exhibit any breaks in its volatility. The results obtained for Uruguay dismiss the notion that the observed reduction in volatility is primarily attributed to a scenario of reduced external volatility, also known as the 'good luck hypothesis. [ABSTRACT FROM AUTHOR]

The changing population dynamics have substantial impact on economy. This paper investigates the effects of demographic change on economic growth. The share of working age population, child dependency ratio, old-age dependency ratio and age dependency ratio are used as demographic variables. The effects of these variables on the gross domestic product per capita growth rate are examined for the OECD countries covering the period 1970–2021. Four different models are estimated by using panel ARDL estimation method. The findings derived from the estimated models point out that the old-age dependency ratio and age dependency ratio have negative effects on economic growth. On the other hand, the share of working age population has a positive effect on economic growth. These results suggest that demographic change causing an increase in the dependency ratio and a decrease in the share of working age population will have adverse impacts on economic performance in the long run. [ABSTRACT FROM AUTHOR]

One of the primary policy issues over the years in the context of the Nigerian economy has been how to enhance the performance of the non-oil export sector of the economy in order to diversify the country's export base and contribute more to GDP (gross domestic product). Rather than a lack of policy initiatives, the noticeably abysmal performance of Nigerian non-oil exports has been increasingly attributed to poor policy implementation. However, the question of whether such poor implementation is due to the quality of institutional settings, particularly in a developing economy such as Nigeria, has been largely unexplored. To the best of our knowledge, none of the previous studies deemed it necessary to control for the role of institutional quality in the non-oil export-growth nexus from the perspective of the Nigerian economy. To bridge this important gap in the literature, we hypothesize that institutional qualities matter in the relationship between economic growth and non-oil exports. Motivated by a desire to diversify Nigeria's economy away from its reliance on oil exports, this study re-examines the export-led growth hypothesis from the standpoint of non-oil exports while accounting for the role of institutional qualities. We employ the ARDL estimation technique as the best econometric model for the study given its suitability for variables of mixed order of integration in terms of the series' stationarity. More so, the ARDL technique enables us to simultaneously capture both the short-run and long-run dynamics of the nexus. Empirically, we show results that suggest that improved institutional qualities have the potential to boost the positive effects of non-oil exports on economic growth. We also find that the extent to which institutional quality matters for enhancing the effects of non-oil exports on economic growth depends on the institutional quality indicators chosen. On the whole, we expand on the export-led growth hypothesis by considering the role of institutional characteristics and conclude that improving institutional qualities should be prioritized in the path to Nigerian economic diversification. [ABSTRACT FROM AUTHOR]

The economic costs of tobacco use are substantial particularly in developing countries. While much has been written on healthcare costs from tobacco use related diseases, little is known on the macro-economic impacts of tobacco-related productivity loss. The objective of the current research is to understand the macroeconomic burden of tobacco use in developing countries. Using World Bank's development indicators database for 44 low-and lower-middle-income countries, most of which are African, this paper assesses the relationship between tobacco consumption and economic growth. Specifically, using the fixed effect regression approach, we examined whether tobacco prevalence affects long-run growth rate in the real gross domestic product (GDP) per capita. We adopted an empirical framework from the growth literature by including the national tobacco prevalence rate as one of the determinants of long-run growth in the real GDP per capita. The tobacco prevalence rate varies across countries ranging from 5% in Ethiopia to almost 50% in Myanmar. The prevalence rate is much higher among males than females in almost all countries, with Myanmar males having above 70%. The regression results indicate the existence of a statistically significant negative relationship between the prevalence of tobacco and economic growth after controlling for other determinants of growth, including the initial level of GDP per capita, gross fixed capital formation, trade, resource revenues, institutional quality, a human capital indicator, and infrastructure capacity. A 1% increase in the total tobacco prevalence rate reduces the economic growth rate by almost 2%, all else equal. These findings are robust even after running separate models for male and female tobacco prevalence rates. The results on the other determinants of growth are consistent with the previous empirical studies on economic growth in the context of developing countries. The findings of this study provide additional support to the existing body of empirical economic research on the role of better health, as a form of human capital, in increasing economic output. Thus, actively targeting tobacco control interventions, both in and outside of the workplace, can likely improve workers' productivity and hence economic growth. [ABSTRACT FROM AUTHOR]

The process of population aging represents an important phenomenon in society. Therefore, this phenomenon is given wide attention. Population aging has many signifi cant impacts. The purpose of this study is to analyse the impact on economic growth at the regional level in the Czech Republic. First, there is a literature search on the issue of population aging and economic growth. It is possible to use the view of the Cobb-Douglas production function or product creation as a component of the gross domestic product. Based on the studies, it is possible to expect a negative relationship, that a larger share of the elderly population leads to decreased economic growth. The study examines this relationship at the level of regions in the Czech Republic. The ordinary least squares model is used for this analysis. Based on the results of the study, it is possible to state that the aging process is present in all regions except the capital city of Prague. Economic growth was the highest in the Moravian-Silesian region. Thus, these two regions represent outliers. Based only on the comparison of the two extreme values of the time 2000-2021, it is possible to state that there is a noticeable decrease in economic growth in connection with the aging of the population. In time series analysis, this statement cannot be declared. That is why fi ve-year periods were used, which partially eliminated the problem of being infl uenced by the cycle. However, the result still needs to be confi rmed. The limitation of the research is the limited time series and the variables used. Further research can focus on a more detailed analysis involving other parameters. [ABSTRACT FROM AUTHOR]

Copyright of Ekonomika is the property of Society of Economists 'Ekonomika' 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.)

This study conducted a practical examination of how entrepreneurial endeavors influence economic expansion by utilizing data from the Global Entrepreneurship Monitor (GEM) from 2001 to 2021 in 23 participating countries. Real Gross Domestic Product Per Capita (RGDPPC) represented economic expansion, while Established Business Ownership (EBO), High Job Creation Expectation (HJCE), and Total Early-Stage Entrepreneurship Activity (TEA) symbolized entrepreneurial endeavor. The interplay between EBO, TEA, and the National Entrepreneurship Context Index (NECI) was also assessed. The panel autoregressive distributed lag (ARDL) model was implemented after panel stationarity tests and co-movement analysis. Results reveal that TEA exerts no immediate short-term impact on economic growth, with long-term effects being contingent on short-term homogeneity or heterogeneity. The impact on the intended outcome was adverse in both the near and distant time frames for businesses that were already established, yet demonstrated a favorable lagged influence. High job creation expectations had a short-term adverse outcome on real per capita GDP expansion, yet a favorable impact over an extended duration. The inclusion of NECI indicated a significant influence regarding the correlation among entrepreneurial elements and real per capita GDP. Thus, the immediate effect of entrepreneurial activities on growth is not significant or positive, but over time, the impact becomes noticeable with sustained effort. [ABSTRACT FROM AUTHOR]

Consumer loans play a driving role in economic growth by creating an important momentum in the economy. In this context, the aim of the study is to examine the relationship between economic growth and consumer lending between 2006Q1-2020Q2 in Türkiye. In the study, the rate of change in the chained gross domestic product with the seasonal and calendar adjusted expenditures method as the growth variable, the volume and amount variables as the lending variable, and Biggs et al. (2009) credit impulse (the ratio of changes in credit flows to economic growth) variable, which is introduced to the literature, is used. In addition to the credit impulse in the literature, two more credit impulse models are installed, and these models are also included in the analysis. ADF, Phillips-Perron, KPSS and Fourier KPSS unit root tests are applied to the variables in the analysis. The causality relationship between the variables is examined by Fourier Granger causality and Toda Yamamoto causality tests. According to the results of the Fourier Granger causality test, consumer credit volume and consumer credit impulse, calculated with annual real volume and GDP data, is the reason for economic growth. According to the results of the Toda Yamamoto causality test, consumer lending amount and consumer credit impulse, calculated with annual real volume and GDP data, is the reason for economic growth. [ABSTRACT FROM AUTHOR]

This paper analyzed the convergence of economic growth and socioeconomic development in the Legal Amazon region. For this, the methodology of Convergence Means was used. To measure economic growth, the Gross Domestic Product (GDP) per capita and the Gross Value Added (VAB) per capita referring to the three sectors of the economy were used as variables. Regarding socioeconomic development, the Firjan Index of Municipal Development (IFDM) was used as variables for the dimensions: General, Health, Employment and Income and Education. The results showed that the variables related to economic growth, presented themselves as convergent and showed a great growth in the period. In relation to variables related to socioeconomic development, the level of convergence was significant, with exception of the variable employment and income, which proved to be divergent. [ABSTRACT FROM AUTHOR]

Copyright of Al-Adab / Al-ādāb is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) 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 small, medium, and mirco enterprise (SMME) sector is viewed as a catalyst for economic growth in the whole world due to its potential to substantially contribute towards employment creation and poverty reduction, among other things. In South Africa (SA), SMMEs have accounted for approximately 40% of gross domestic product and 47% of the workforce in the past few years. Despite the critical role of this sector in SA's economic growth, literature on understanding its development and trends is scant. This study, therefore, provides a comprehensive analysis on the development of SMMEs in SA. We first conceptualize the term by comparing the definitions of SMMEs from various countries. We later trace the regulatory development of SMMEs during the period from 1940 to 2020. We provide an in-depth discussion on the performance of SMMEs during the period from 2008 to 2021 from different lenses such as provincial, sectoral, and demographic analyses. The results confirmed that, in terms of the number of firms, the sector has remained resilient over the reviewed period. We found that the sector contributes significantly towards economic growth and employment in SA, and this has increased over the years under review. Lastly, we identified several financial and non-financial challenges faced by SMMEs. [ABSTRACT FROM AUTHOR]

The contemporary environment is interrelated, and interactions between markets, countries, and international actors at different levels exist in every corner of the globe. Amid this, the failures of the free-market system have paved the way for institutionalism, which proposes minimising transaction costs, substantial property rights, and enabling proper contract enforcement. Studies on institutions and insurance development spillover concerning growth relationships are rare and a critical area needing exploration. This study explores the behaviour of economic development in terms of potential spatial dependencies and spatial institutional and insurance development spillover on economic growth. To measure insurance development by the life insurance and non-life insurance penetration, economic growth by per capita gross domestic product (GDP), and indicators of good governance for institutions in the nations. The study explored the spatial impact between countries using panel data of 56 countries between 2002 and 2020 representing the Asian and European regions. We did this by using dynamic spatial econometric modelling (DSEM) on institutional and insurance development and seeing the spatial implications and the spatial institutional impact moderated by insurance development on growth. Results indicate that developing the life insurance and non-life insurance of surrounding countries creates a spillover impact on the local countries' economies. In contrast, institutions have created a reverse spatial spillover impact on local countries. However, life insurance development, moderated through accountability and government effectiveness, has created a spatial spillover between countries. Both life and non-life penetration moderated by the control of corruption and overall institutions have shown a reverse spillover on countries' economies. This suggests that global governance is a positive-sum game, and monitoring and governance structures have failed at the international level concerning separate countries. Therefore, it is seen that to prevent institutional failure at the state level, good governance and links with the global governance structure could disrupt or energise local institutions. [ABSTRACT FROM AUTHOR]

This study employs correlation analysis and a fixed effects model premised on indexes extracted through principal component analysis to assess the effects of entrepreneurial attitudes and behaviour, and entrepreneurial framework conditions (EFCs) on economic growth in BRICS economies. For purposes of effectiveness, a panel dataset for entrepreneurial attitudes and behaviour, and EFCs indicators is pooled from the Global Entrepreneurship Monitor website, and one for gross domestic product (GDP) per capita, a proxy for economic growth, is sourced from the World Bank website over the period 2001-2021. The study reveals that there are statistically significant negative correlations between GDP per capita and 'entrepreneurial intentions rate', 'perceived capabilities rate', 'perceived opportunities rate', 'governmental support and policies', 'taxes and bureaucracy', 'governmental programmes', 'internal market openness', 'physical and services infrastructure' and 'cultural and social norms'. Furthermore, entrepreneurial attitudes and behaviour positively impact GDP per capita, whereas EFCs have no significant influence on GDP per capita in BRICS economies. [ABSTRACT FROM AUTHOR]

Globally, carbon dioxide (CO2) emission is a significant element of environmental pollution because of corrupt economic activities that requires regulators' focus and researchers' emphasis. Hence, the current research evaluates economic growth on CO2 emissions in Chinese economy. The article has taken six factors of economic growth on board along with sustainable innovation to predict CO2 emissions. Secondary data, in this regard, has been used which has been borrowed from World Bank from 1986 to 2020. Augmented Dickey-Fuller test is employed to scrutnize unit root, while QARDL model has been run to identify the association between the constructs. Findings revealed that factors such as gross domestic product, national income, human capital, employment ratio, inflation and exports signifies CO2 emissions, hence are corrupt the environment. While sustainability oriented innovation reduces the emissions. This study monitors the policymakers while formulating regulators related to reducing the level of CO2 emission using economic growth factors and sustainability-oriented eco-innovation. [ABSTRACT FROM AUTHOR]

Background: Most individuals developing tuberculosis (TB) are working age adults living in low- and middle-income countries (LMICs). The resulting disability and death impact economic productivity and burden health systems. New TB vaccine products may reduce this burden. In this study, we estimated the impact of introducing novel TB vaccines on gross domestic product (GDP) growth in 105 LMICs. Methods and findings: We adapted an existing macroeconomic model to simulate country-level GDP trends between 2020 and 2080, comparing scenarios for introduction of hypothetical infant and adolescent/adult vaccines to a no-new-vaccine counterfactual. We parameterized each scenario using estimates of TB-related mortality, morbidity, and healthcare spending from linked epidemiological and costing models. We assumed vaccines would be introduced between 2028 and 2047 and estimated incremental changes in GDP within each country from introduction to 2080, in 2020 US dollars. We tested the robustness of results to alternative analytic specifications. Both vaccine scenarios produced greater cumulative GDP in the modeled countries over the study period, equivalent to $1.6 (95% uncertainty interval: $0.8, 3.0) trillion for the adolescent/adult vaccine and $0.2 ($0.1, 0.4) trillion for the infant vaccine. These GDP gains were substantially lagged relative to the time of vaccine introduction, particularly for the infant vaccine. GDP gains resulting from vaccine introduction were concentrated in countries with higher current TB incidence and earlier vaccine introduction. Results were sensitive to secular trends in GDP growth but relatively robust to other analytic assumptions. Uncertain projections of GDP could alter these projections and affect the conclusions drawn by this analysis. Conclusions: Under a range of assumptions, introducing novel TB vaccines would increase economic growth in LMICs. Author summary: Why was this study done?: Most individuals who develop tuberculosis (TB) are working age adults living in low- and middle-income countries (LMICs), and the resulting disability and death impact economic productivity and burden health systems, but new TB vaccine candidates may reduce this burden. Earlier studies have estimated the impact of individual diseases and health risks on rates of economic growth, but the potential gains to economic growth that could be produced by introducing novel TB vaccines have not been previously estimated. What did the researchers do and find?: In this study, we estimated the impact of introducing novel TB vaccines on gross domestic product (GDP) growth in 105 LMICs, using a macroeconomic model to simulate country-level GDP trends between 2020 and 2080, in 2020 US dollars. We compared scenarios for introduction of infant and adolescent/adult vaccine candidates to a no-new-vaccine counterfactual. Compared to the no-new-vaccine counterfactual, both vaccination scenarios produced greater cumulative GDP in the modeled countries over the study period, equivalent to $1.6 (95% uncertainty interval: $0.8, 3.0) trillion for the adolescent/adult vaccine and $0.2 ($0.1, 0.4) trillion for the infant vaccine. These GDP gains were substantially lagged relative to the time of vaccine introduction and concentrated in countries with higher current TB incidence. What do these findings mean?: This study demonstrates that introducing new TB vaccines could increase economic growth in LMICs. The results of this research could inform decision-making around how new TB vaccines are developed and introduced. [ABSTRACT FROM AUTHOR]

The economic reforms and their implementation process boost the growth of the economy and trade in the countries of Cambodia, Laos, Myanmar and Vietnam, economies in which an average growth in GDP that exceeds 5 percent, likewise the flows of foreign direct investment and trade present an increase, showing the four countries an orientation of opening to the external market. Thus, the objective of the research is to analyze the economic reforms and their importance in the dynamics of the economy and trade in Cambodia, Laos, Myanmar and Vietnam from 1990 to 2021, there is also the hypothesis that the reforms in the four countries they contributed to the growth of the economy and trade, for this we worked through a documentary analysis that allowed the recovery of selective information to explain the growth of GDP and trade. [ABSTRACT FROM AUTHOR]

There is also a growing body of literature on the relationship between foreign trade and economic growth, but many of these studies need to include the import variable. This study examines the state of trade in goods between Bulgaria and the world for 2018-2022 and investigates the cointegration between both export/import and economic growth of Bulgaria through employing yearly data for 1990-2022. The Engle-Granger's cointegrating test was used to study the long-term relationship between variables. The results show a positive and significant long-term relationship between Bulgarian exports and imports and gross domestic product at a 99% confidence level. This leads us to two conclusions: first, Bulgarian exports are more variable over time than Bulgarian imports, and second, the development of Bulgarian foreign trade will positively affect its economic growth. [ABSTRACT FROM AUTHOR]

Foreign direct investment (FDI) currently plays a relevant role in the world economy. During the last decades, several authors have been concerned about the relationship between foreign direct investment and the economic growth of a country. This work aims to identify if there is a correlation among these economic indicators, using China as study country. In order to meet this objective, a characterization of FDI is carried out in the selected country, with emphasis in its dissimilar contributions, and the determinants and incentives for investment. This work covers data fundamentally until 2019, in the context of pre-pandemic COVID-19. In addition, with the use of SPSS Statistics software and databases, a correlation study between the Gross Domestic Product and foreign direct investment has been carried out. As result, a direct and strong correlation between FDI and economic growth is obtained from the Asian country. At the end, there are experiences to following for Cuba. [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.)

This study looks at the impact of non-oil revenue on Nigerian economic growth from 1981 to 2021. This study adopts endogenous growth model as its theoretical framework. The augmented Dickey Fuller test was used to determine whether each variable was stationary; the results showed that mining revenue is stationary at level, indicating that the series is integrated of order 0 i.e (I(0)), whereas real gross domestic product, agricultural revenue, manufacturing revenue and values added tax revenue are stationary at first difference, indicating that the series is integrated of order 1 (I(1)). Sequel to the result of the unit root test which showed that there is mixed level of stationary among the variables, the study employs ARDL estimation technique which is the technique that accommodates variables with mixed level of stationary. The result found that mining revenue, agricultural revenue, manufacturing revenue and values added tax revenue all contributes positively to economic growth of Nigeria. Based on these findings, Nigerian government should further develop the non-oil sector for it to generate more revenue which will spur economic growth, also the federal government of Nigeria needs to redouble its efforts to ensure the diversification of the nation's productive sector. [ABSTRACT FROM AUTHOR]

This paper aims to investigate the impact of innovation on three macroeconomic indicators: GDP, self-employment, and foreign direct investment (FDI). The study analyses a sample of 120 countries using the Global Innovation Index (GII) and its constituent sub-indices and pillars, which provide a holistic evaluation of national innovation. Gross domestic product (GDP) per capita measures a country's economic output, self-employment assesses entrepreneurial activity, and FDI indicates confidence in a country's economic prospects and innovation trends. This study analyzes the data using generalized-linear and panel-corrected standard-error models. The results show that innovation positively influences GDP, domestic institutional framework, local infrastructure, local knowledge and technology, and creative outputs. In contrast, innovation negatively correlates with domestic self-employment, often associated with necessity-driven entrepreneurship. The study concludes that innovation positively affects human resources, research, and creative outputs and has no significant impact on FDI. The findings suggest that a practical regulatory framework, institutional support, domestic human capital, research and development, infrastructure, technology, and creative outputs are essential for a vibrant economy. National innovation policies supporting the GII and its constituent factors can positively affect the economy while reducing self-employment. [ABSTRACT FROM AUTHOR]