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This paper investigates the nonlinear relationship between tourism and economic growth using a balanced sample of 58 countries in three continental samples (Africa, Asia, and Latin America) for the 2003–2017 period. First, we document an asymmetric threshold effect of tourism on economic growth. By utilizing an endogenous threshold regression model, we show that a single tourism threshold cutoff exists and that tourism receipts influence growth only till the threshold cutoff point in all three continental samples; however, this influence is nonexistent past the threshold point. Second, a quantile effect decomposition shows separate marginal effects for the tourism and economic growth relationship across the growth distribution. By using an unconditional quantile regression approach, we show that compared to their regional cohorts, slow- and medium-growth African countries, slow-growth Asian countries, and medium-growth Latin American countries exhibit substantially higher economic growth benefits from tourism. We explain these empirical observations and discuss their policy implications. [ABSTRACT FROM AUTHOR]

The relationship between urbanization and development is a vital policy concern, especially in Africa and Asia. This paper reviews the arguments and evidence for whether rapid urban population growth can help to raise living standards. The main finding is that the development effects of urbanization and the magnitude of agglomeration economies are very variable. There is no simple linear relationship between urbanization and economic growth, or between city size and productivity. The potential of urbanization to promote growth is likely to depend on how conducive the infrastructure and institutional settings are. Removing barriers to rural–urban mobility may enable economic growth, but the benefits will be much larger with supportive policies, markets and infrastructure investments. Cities should use realistic population projections as the basis for investing in public infrastructure and implementing supportive land policies. Governments should seek out ways of enabling forms of urbanization that contribute to growth, poverty reduction and environmental sustainability, rather than encouraging (or discouraging) urbanization per se. [ABSTRACT FROM PUBLISHER]

• Market services have proved to behave as a key sector in fuelling economic growth in developing regions. • Distributive trade and business services show strong increasing returns of scale. • Business services are particularly relevant for output and productivity increases. The paper analyses the contribution of services vis-à-vis manufacturing as a driving force of economic growth in developing regions. In doing so, we test Kaldor´s first and second growth laws for different service categories, providing a comparative view across Asia, Latin America, and Africa. The work focuses attention on the importance of sector-level disaggregation in exploring the relationship between productivity and economic growth. Hence, it accounts for services sector heterogeneity to help to disentangle those specific branches that may fuel economic growth in the different regions. Panel data estimations are performed for a sample of 32 countries during 1970–2010. Our findings support the key role of manufacturing for growth. However, they also emphasise how market services (particularly, business service activities) may also enhance productivity and output growth 'à la Kaldor'. The research supports recent claims for modernising industrial policy in a way that promotes but is not limited to manufacturing. [ABSTRACT FROM AUTHOR]

This paper offers a descriptive analysis approach regarding the influence of some institutional variables on the economic growth in emerging countries. The sample consists of 20 countries covering different zones: European Emerging, Asia Pacific Emerging, Latin America, Middle-East and Africa. We analyze the evolution and the nature of the correlations of economic growth and some of its determinants such as corruption control, government stability and investment profile during 2000-2010. [ABSTRACT FROM AUTHOR]

This paper examines the effect of foreign direct investment (FDI) inflows on host country's economic growth for a group of 45 developing countries for the period 1990–2014. Using the pooled mean group (PMG) regression method, we estimate the long-run and the short-run impact of FDI inflows on growth rate of GDP per capita. The PMG regression results suggest that the growth rate of GDP per capita and its covariates are cointegrated, implying the presence of a long-run equilibrium relationship among the variables. Our results suggest that FDI inflows have significant positive impact on economic growth of the recipient countries both in the long-run and in the short-run. We find that the long-run effect of FDI inflows on economic growth is higher in the emerging market economies as compared to the non-emerging market economies. FDI inflows have significant positive effect on the long-run economic growth in Asia and Africa region. [ABSTRACT FROM AUTHOR]

The article reflects the outcomes of a quantitative study of the relationship between the processes of globalization and economic growth. It covers 29 countries in Asia and Africa and the period from 2001 to 2019. Hypotheses about the relationship between the level of globalization, country's investment risk premium and economic growth are considered. Based on the results of the regression analysis of the panel data for the mentioned above period, it was concluded that the relationship between economic dynamics and the degree of inclusion of Asian and African countries in the global economy was negative. [ABSTRACT FROM AUTHOR]

This study estimates the macroeconomic impact of remittances and some control variables such as openness of the economy, capital/labor ratio, and economic freedom on the economic growth of African, Asian, and Latin American-Caribbean countries using newly developed panel unit-root tests, cointegration tests, and Panel Fully Modified OLS (PFMOLS). We use annual panel data from 1985-2007for 64 countries consisting of 29 from Africa, 14 from Asia, and 21 from Latin America and the Caribbean region, respectively. We find that remittances, openness of the economy, and capital labor ratio have positive and significant effect on economic growth for all regions as a group and in each of the three in study. While the economic freedom index also has a positive and significant effect on growth in Africa and Latin America, however, its effect on the economic growth of Asia is mixed. [ABSTRACT FROM AUTHOR]

Twenty years ago, Lenski and Nolan published a seminal article in which they established empirical links between modern development and traditional technology in developing countries. This analysis is expanded in two ways: by improving the indicators of traditional technologies, and by introducing a second dimension of structural complexity, the sociopolitical differentiation of traditional societies. Though two indices measure functionally related aspects, they have distinct impacts on the socio-economic development of the 65 non-western countries analyzed in this article. Since traditional socio-political differentiation explains modern development better than traditional technology, we suggest significant revisions, and a new interpretation of Lenski and Nolan's results. [ABSTRACT FROM AUTHOR]