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Journal articles on the topic 'Gross fixed capital formation'
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Rahman, Taufiq, and Jakaria ,. "DETERMINASI PERTUMBUHAN EKONOMI DI ASEAN." Media Ekonomi 23, no. 3 (December 20, 2015): 199. http://dx.doi.org/10.25105/me.v23i3.3522.
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<p><em>This study aims to determine the relationship between Foreign Direct Invesment, Gross Fixed Capital Formation, Trade Openness to economic growth in nine ASEAN countries, and to compare the factors that determinae the movement and economic growth ini nine countries ASEAN. The variables used invlude foreign direct investment, gross fixed capital formation, trade openness and Growth of Gross Domestic Product of each country. </em><em>The method used in this thesis is the regression method Panel . Results of the study showed an overall variable Foreign Direct Investment and Gross Fixed Capital Formation had significant results . If seen from the results of the model for pernegara Foreign Direct Investment have the significant results in the state of Singapore . Gross Fixed Capital Formation have the significant results in the state of Singapore, Thailand, Philippines and Cambodia. To have the variable Trade Openness significant results at the state of Indonesia, Malaysia, Thailand, Philippines, and Cambodia</em><em>.</em></p>
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Ma’in, Masturah, and Siti Sarah Mat Isa. "The Impact of Foreign Direct Investment on Economic Growth in Malaysia." ADVANCES IN BUSINESS RESEARCH INTERNATIONAL JOURNAL 6, no. 1 (May 31, 2020): 25. http://dx.doi.org/10.24191/abrij.v6i1.9937.
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This study analyzes the impact of Foreign Direct Investment (FDI) on economic growth in Malaysia. The Auto-Regressive Distributed Lag (ARDL) method is used to investigate the long-run relationship between FDI and economic growth. The controlled variables are life expectancy, gross fixed capital formation and population growth. The bound test suggests that FDI, life expectancy, gross fixed capital formation and population growth have a long-run relationship with economic growth. This is supported by the significant correction term, which confirms the existence of a long-run relationship. However, as FDI, life expectancy and gross fixed capital formation have positive impact on Malaysia’s economic growth, population on the other hand, shows otherwise.
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Mitić, Petar, Aleksandar Kostić, Evica Petrović, and Slobodan Cvetanovic. "The Relationship between CO2 Emissions, Industry, Services and Gross Fixed Capital Formation in the Balkan Countries." Engineering Economics 31, no. 4 (October 29, 2020): 425–36. http://dx.doi.org/10.5755/j01.ee.31.4.24833.
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The examination of the economy-environment nexus is one of the focal issues in the field of environmental economics. This study examines the causal relationships between carbon dioxide (CO2) emissions, industry, services, and gross fixed capital formation for a panel of Balkan countries over the period 1996-2017. A three-step methodological approach is used, including panel unit root tests, panel cointegration tests, and panel causality tests. The results suggest a strong cointegration between the variables, meaning that all variables have a long-run relationship with CO2 emissions. The results of the panel causality show that there is a short-run bidirectional panel causality running between industry and services, and gross fixed capital formation and services. Moreover, there is a unidirectional causality running from industry and gross fixed capital formation to CO2 emissions, and from industry to gross fixed capital formation. The results of the long-run causal relationships show that estimated coefficients of the error correction terms (ECT) in the case of CO2 emissions, industry and gross fixed capital formation are statistically significant, indicating that these three variables are an important part in the adjustment process as the model diverges from the long-run equilibrium. Balkan countries need to further invest in the modernisation of their technological process, as well as to act following the global policy incentives. Environmental taxes, carbon capture and storage, taking part in emission trading schemes and orientation towards renewable energy sources, should further strengthen Balkan countries in achieving environmentally sound economic growth.
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Ul Haque, Ahasan, Golam Kibria, Muhaiminul Islam Selim, and Dilruba Yesmin Smrity. "Labor Force Participation Rate and Economic Growth: Observations for Bangladesh." International Journal of Economics and Financial Research, no. 59 (September 15, 2019): 209–13. http://dx.doi.org/10.32861/ijefr.59.209.213.
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The study investigates the relationship between the labor force participation rate for both male and female, gross fixed capital formation, and economic growth in Bangladesh using the annual time series data from 1991 to 2017. The results find two bidirectional nexus that one is between total labor force participation and economic growth and second is between gross fixed capital formations and economic growth whereas the findings also show a unidirectional causal association from female labor force participation to economic progress for Bangladesh. The study also finds that both total labor force participation and female labor force participation have short-run positive significant effects on the economic development for Bangladesh but adverse effects in the long run. On the contrary gross fixed capital formation contains short term significant negative indication on the economic growth but has an explicit positive considerable impact on the economic development of Bangladesh. The government of Bangladesh needs to give more importance in technical education format that will produce more skilled labor.
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Stupnikova, Elena, and Tatyana Sukhadolets. "Construction Sector Role in Gross Fixed Capital Formation: Empirical Data from Russia." Economies 7, no. 2 (May 9, 2019): 42. http://dx.doi.org/10.3390/economies7020042.
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The purpose of this study was to research and understand the interrelations between the growth of gross fixed capital formation (GFCF), the volume of construction industry, supply of interindustry balance, and amount of fixed-asset investments in Russia between 2000 and 2016. The autoregressive distributed-lagged (ARDL) bound testing methodology and regression analysis were applied to evaluate the cointegration and influence of construction industry volume on gross fixed-capital formation. Empirical studies on the role of the construction industry are at the forefront of economic research; however, ARDL modeling studies of GFCF have yet to be conducted in Russia. The study revealed a non-linear causation between construction industry volume and the growth in GFCF over a long time period. The correlation was stationary and cointegrated. Fixed investment positively affected gross fixed capital formation only in periods of economic expansion, whereas the effectiveness of fixed-asset investments had greater volatility in times of crisis. The construction industry was not practically affected by crisis shocks, demonstrating a permanent stationarity in the causal relationship with GFCF, whereas causal relations between GFCF and the supply of interindustry balance were absent. The results are important for further research in the field of economic growth, the development of a national budget and investment policy, as well as investment project selection.
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Vidyarthi, Harishankar. "Energy consumption and growth in South Asia: evidence from a panel error correction model." International Journal of Energy Sector Management 9, no. 3 (September 7, 2015): 295–310. http://dx.doi.org/10.1108/ijesm-10-2013-0002.
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Purpose The purpose of the paper is to empirically examine the relationship between energy consumption and economic growth for a panel of five South Asian economies, namely, India, Pakistan, Bangladesh, Sri Lanka and Nepal over the period from 1971 to 2010 within a multivariate framework. Design/methodology/approach The study uses Pedroni cointegration and Granger causality test based on panel vector error correction model to examine long-run equilibrium relationship and direction of causation in the short and long run between energy consumption and economic growth using energy inclusive Cobb–Douglas production function for a panel of five South Asia countries, namely India, Pakistan, Bangladesh, Sri Lanka and Nepal. Findings Pedroni’s panel cointegration test indicates the long-run equilibrium relationship between economic growth per capita, energy consumption per capita and real gross fixed capital formation per capita for panel. Further, 1 per cent increase in energy consumption per capita increases the gross domestic product (GDP) per capita by 0.8424 per cent for the panel. Causality results suggest bidirectional causality between energy consumption per capita, gross fixed capital formation per capita and GDP per capita in the long run and unidirectional causality running from energy consumption per capita and gross fixed capital formation per capita to GDP per capita in the short run. Practical implications These South Asian countries should implement an expansionary energy policies through improving the energy infrastructure, energy efficiency measures and exploiting massive renewables’ availability for low-cost, affordable clean energy access for all, especially in the yet unserved rural and remote areas for further stimulating economic growth. Originality/value Implementing energy efficiency measures and massive renewables development (wind, solar and hydropower) may help the affordable and clean energy access and reducing fossils fuel dependence and its associated greenhouse emissions in South Asia.
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ZAHIR, SALMA, KAUSER HAYAT, and AFTAB HAIDER. "The Causality between Gross Fixed Capital Formation, Trade Deficit, Exchange Rate, and the Economic Growth of Pakistan." International Review of Management and Business Research 9, no. 4 (December 7, 2020): 138–47. http://dx.doi.org/10.30543/9-4(2020)-13.
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The research paper studies the causal link between gross domestic product, gross fixed-capital formations, exchange rate, and trade deficits in Pakistan from 1986 to 2013 with time serial data. ADF and Phillip Perron tests are recycled for stationary and at the first difference, each variable is unified. According to the Johansen Co-integration test, the presence of longer-term Co-integration among variables is displayed, and the Error Correction model expresses that 49.27 % of short-term uncertainty is adjusted in long-term equilibrium. Moreover, the Granger causality test presented causality among the variables. While the conclusion showed that such variables have unidirectional causation. Keywords: Trade Deficit, Exchange Rate, Gross Fixed Capital Formation, Gross Domestic Product, ADF, Phillip Perron, Johansen Co-integration, Error Correction model, & Granger Causality test.
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Anwar, Nurul, and Khalid Eltayeb Elfaki. "Examining the Relationship Between Energy Consumption, Economic Growth and Environmental Degradation Indonesia: Do Capital and Trade Openness Matter?" International Journal of Renewable Energy Development 10, no. 4 (May 27, 2021): 769–78. http://dx.doi.org/10.14710/ijred.2021.37822.
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This paper examines the relationship between energy consumption, economic growth, and environmental degradation in Indonesia in 1965-2018 with the inclusion of gross capital formation and trade openness as relevant factors. The autoregressive distributed lag model to cointegration, fully modified ordinary least squares, dynamic ordinary least squares, and canonical cointegrating regression approach applied to estimate this relationship. The result of cointegration confirms the existence of a cointegration relationship between energy consumption, economic growth, gross fixed capital formation, trade openness, and environmental degradation. The empirical result, in the long run, indicates that energy consumption, economic growth, and trade openness have a positive relationship with environmental degradation. However, the gross fixed capital formation was found to be negatively associated with environmental degradation. This implying that gross fixed capital formation plays a pivotal role to reduce environmental degradation in Indonesia. The error correction model coefficient indicates that the deviation of CO2 emissions from its long run equilibrium will be adjusted by 0.53% through the short run channel per annual. The findings of this paper propose implementing an energy policy that focuses on energy from environmentally friendly sources. Reverse the effect of openness to the international markets to improve and facilitate access to advanced and environmentally friendly technologies to mitigate environmental degradation and improve environmental quality.
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Oluwatobi, A. Abiola, F. Adegbie Festus, and O. Ogundajo Grace. "Tax Revenue, Capital Formation, and Economic Growth in Nigeria." Research in World Economy 12, no. 1 (January 2, 2021): 101. http://dx.doi.org/10.5430/rwe.v12n1p101.
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Economic growth drivers aimed at stimulating and stabilizing the economies of the countries to engender sustainable growth. Studies have shown that Nigeria has been plagued with stunted and faltering economic growth over the years. Tax and other relevant macroeconomic policies are implemented by the government to smoothen out economic fluctuations but this has not been fully harnessed. A causal-effect study was conducted between tax revenue, gross fixed capital formation and economic growth using a 38-year time series data from 1981 to 2018 derived from CBN statistical bulletin. It was found that tax revenue (TR) had significant positive effect on Gross Domestic Product and Gross Fixed Capital Formation (GFCF) significantly controls the relationship between TR and GDP. It is evidenced that the country relied heavily on taxes as major source of revenue. The study recommended that government should widen its tax net, creates expansionary measures to enhance its tax revenue in order to boost its GDP. The government should also create an enabling environment for economy diversifications in order to increase revenue generated via other means than taxes in order to spur economic growth and avoid over-reliance on taxes.
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Eke, Patrick Omoruyi, Lawrence Uchenna Okoye, and Alexander Ehimare Omankhanlen. "Can Pension Reforms Moderate Inflation Expectations and Spur Savings? Evidence from Nigeria." WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS 18 (January 14, 2021): 324–37. http://dx.doi.org/10.37394/23207.2021.18.33.
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This paper tests the prior-savings theory which proposes that pension savings could moderate inflation, and spur long-tenured savings for fixed capital formation. An augmented Toda-Yamamoto longrun non-causality technique was used to analyze data from 1980 to 2018. The outcome reveals that pension saving has significant negative causal flow to gross fixed capital formation, while gross fixed capital formation does not drive inflation expectation. The outcome suggests that prior-savings theory does not hold in the Nigerian case, which may infer that government borrowing from pension fund has been for consumption expenditure. The results generalize many developing economies with similar financial structure. The paper recommends that borrowed pension savings be invested in infrastructures in line with prior-saving theory. Fiscal policy reforms that broaden and deepen the nexus are recommended
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Yalezo, Bhasela, and Bokana G. K. "Determinants of Eastern Cape Gross Fixed Capital Formation and Its Impact on the South African Economic Performance." Journal of Economics and Behavioral Studies 10, no. 4(J) (September 14, 2018): 32–44. http://dx.doi.org/10.22610/jebs.v10i4(j).2405.
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This study aimed at investigating the factors that determine gross fixed capital formation in the Eastern Cape province of South Africa using time series autoregressive distributive lags (ARDL) on a data covering 1996-2015. We are constraint with the time length of the data because the range of time falls within the period when South Africa got her independence and actually the reliability of most data for most economic activities began after independence. The analyses carried out in this study are basically from two study dimensions. Firstly, we investigated which factors determine the growth of Eastern Cape Gross fixed capital formation and the classification of all economic activity into primary, secondary and tertiary sectors enabled us to identify the significant role of tertiary sector among others in analyzing which factors determine Easter Cape gross fixed capital formation. Again, growth is enhanced through the following determinants: Catering and Accommodation (TF17) and not necessarily when Wholesale and retail trade is inclusive; Again, there is a better performance of the GFCF in the tertiary sector with Communication (TG19) than when Transport and storage are merged together, and finally, Business services (TH21) behaves better with tertiary sector than when it combines with Finance, Insurance and real estate. Hence, for policy implication, the growth of primary and secondary should be considered urgent and should be given ultimate policy consideration as it appears that these sections contribute very negligibly to the growth of Eastern Cape gross fixed capital formation.
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Chen, Kuan, Gary H. Jefferson, Thomas G. Rawski, Hongchang Wang, and Yuxin Zheng. "New Estimates of Fixed Investment and Capital Stock for Chinese State Industry." China Quarterly 114 (June 1988): 243–66. http://dx.doi.org/10.1017/s0305741000026783.
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Measures of society's stock of fixed assets are necessary for describing production technology, evaluating capital-output ratios and analysing multi-factor productivity. Even in advanced industrial economies, existing series of fixed capital incorporate many weaknesses and arbitrary assumptions; in low-income nations, these problems are often severe. China is no exception. While recognizing the inherent difficulty of compiling capital stock estimates for an economy in which prices have long deviated from scarcity values, this article uses currently available materials to derive an improved time series of fixed capital stock for independent accounting units within Chinese state industry. Our objective is to produce new series that adhere as closely as possible to the standard national accounting concepts of gross domestic fixed capital formation and gross reproducible fixed assets. Despite the difficulties mentioned below, we believe that our new series are distinctly superior to existing figures for the analysis of capital deepening, multi-factor productivity and other aspects of Chinese state industry requiring estimates of fixed capital stock.
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Ibhagui, Oyakhilome. "Financial Reforms, Capital Investment and Financial Intermediation in China." South Asian Journal of Macroeconomics and Public Finance 9, no. 1 (December 12, 2019): 58–86. http://dx.doi.org/10.1177/2277978719875624.
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China has witnessed remarkable changes in its capital investment and financial system since initiating economic and financial sector reforms more than three decades ago. However, there is a dearth of studies examining what impact these reforms have had on financial intermediation, measured by credit growth, in the country. This article addresses this vacuum and investigates the effect of financial sector and capital investment reforms on credit growth in China between 1986 and 2016. We examine how real interest rate (the financial reform indicator) and gross fixed capital formation (the economic capital investment indicator) are linked with financial intermediation in China. Our empirical results suggest that although gross fixed capital formation positively influences credit growth, there is no evidence that real interest rates influence credit growth in China. The main message is that credit has grown in China, not because of financial intermediation but because of the increased need to finance growing fixed capital investment. JEL Classification: E43, E44, F65
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Heliati, Ratni, and Intan Putri Wandiva. "Military Budget and Economic Growth: Case of Middle East, North Africa and South Asia Countries." TRIKONOMIKA 16, no. 2 (December 28, 2017): 75. http://dx.doi.org/10.23969/trikonomika.v16i2.598.
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Conflict became one of the biggest problems in the Middle East region. This situation will deteriorated the country and will impact on economic perfomance, so defense budget is important to resolve these problems. This study aims to determine the effect of military budget on economic perfomance in 22 countries of the Middle East, North Africa and South Asia 2000-2014 period. This study uses 5 variables namely GDP per capita, military budget, gross capital formation, human capital and final consumption expenditure. This study uses panel data analysis with fixed effect model. The results of model estimation suggest that military budget has a significant negative effect on economic perfomance, while gross capital formation, final consumption expenditure have significant positive effect on economic perfomance. Meanwhile, human capital does not have significant effect on economic perfomance in 22 countries.
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Gruneberg, Stephen, and Keith Folwell. "The use of gross fixed capital formation as a measure of construction output." Construction Management and Economics 31, no. 4 (April 2013): 359–68. http://dx.doi.org/10.1080/01446193.2013.790555.
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Mugableh, Mohamed Ibrahim, and Mohammad Salem Oudat. "Economic Growth and Financial Development nexus in Malaysia: Dynamic Simultaneous Equations Models." Asian Journal of Finance & Accounting 10, no. 1 (April 15, 2018): 143. http://dx.doi.org/10.5296/ajfa.v10i1.12736.
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This paper estimates the equilibrium and causality relationships among gross domestic product, energy consumption, financial development, foreign direct investment inflows, and gross fixed capital formation. Different econometrics tests like descriptive statistics, ARCH, KPSS unit root, Johansen and Juselius’s co-integration, VECM Granger causality, and ARDL equilibrium relationships have been employed in Malaysia over the (1971−2013) period. The correlation matrix results indicate a linear association among variables. The null hypotheses of Heteroscedasticity and non-stationary have been rejected implying the appropriate use of VECM and ARDL approach. The VECM Granger causality findings show a long-run bidirectional among the variables. The ARDL approach results demonstrate that energy consumption, financial development, foreign direct investment inflows, and gross fixed capital formation augment gross domestic product in long-run. However, the findings of this paper add essential implications to policy makers and scholars in fields of economic, energy, and finance.
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Ahmad, Rashid, Kashif Raza, and Sobia Saher. "Impact of Trade Openness on Economic Growth: A Case Study of Pakistan'." Review of Economics and Development Studies 3, no. 1 (June 30, 2017): 57–68. http://dx.doi.org/10.26710/reads.v3i1.165.
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Purpose: This paper estimates the impact of trade openness and economic growth in Pakistan by using time series data from period of 1975-2014. Econometric method was applied to estimate the impact of trade openness on economic growth. Gross fixed capital formation (proxy of investment), Foreign direct investment, Imports, Exports & trade openness (proxy of trade openness to check the volume of trade of a country) is used as explanatory variables while gross domestic product is treated as dependent variable in this study. Johansson co. integration approach developed by Johannes & Jeslius (1988) is used to evaluate the long run relationship among variables in this study. The results suggest that trade openness, imports, exports and foreign direct investment cast have positive impact on economic growth while on the other hand; gross fixed capital formation &labor force has negative impact on economic growth.
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Žemgulienė, Jolanta. "Public Expenditure on Capital Formation and Private Sector Productivity Growth: Evidence From Lithuania and the Euro Area." Organizations and Markets in Emerging Economies 3, no. 1 (May 31, 2012): 20–31. http://dx.doi.org/10.15388/omee.2012.3.1.14273.
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This paper explores a relationship between government expenditure on fixed capital formation and private sector productivity in Lithuania and Euro area economies. The extent to which variations of productivity in private Lithuanian economy can be explained by the flow of government expenditure on gross capital formation is estimated from regression analysis based on Cobb-Douglas production function approach. Quarterly state-level data from Lithuania and pooled data from the Euro area countries (12 countries) for the period of 2000 – 2010 were used. The regression estimation indicates the insignificant result for the impact of volume of government expenditure on fixed capital formation on the private sector output growth. Empirical analysis also revealed the negative significant result for the government expenditure on fixed capital formation as a share of GDPfor both the Lithuania and Euro area countries.
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Yalçınkaya, Ömer, İbrahim Hüseyni, and Ali Kemal Çelik. "The Impact of Total Factor Productivity on Economic Growth for Developed and Emerging Countries: A Second-generation Panel Data Analysis." Margin: The Journal of Applied Economic Research 11, no. 4 (October 23, 2017): 404–17. http://dx.doi.org/10.1177/0973801017722266.
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This article investigates the determinants of economic growth and also seeks to determine whether or not the impact of total factor productivity (TFP) changes with respect to the level of development for selected countries. In this manner, the present study examines the impact of gross fixed capital formation, employed labour and the TFP of G-7, G-12 and G-20 countries on real GDP per capita using second-generation panel data analyses over the period 1992–2014. The results reveal that TFP has a greater impact on economic growth than fixed capital formation and employed labour for all country groups. Furthermore, the impact of TFP on economic growth was found to be greater for developed countries than for emerging countries. JEL Classification: C21, C22, C23
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Krejčí, Igor, and Kristýna Vltavská. "Measuring quarterly net fixed capital stock in the Czech Republic." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 61, no. 7 (2013): 2367–76. http://dx.doi.org/10.11118/actaun201361072367.
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Balances of fixed capital are ordinary part of annual national accounts statistics in most developed countries. Although quarterly data are useful for many applications and its existence would be consistent with other quarterly indicators, quarterly fixed capital stock are not officially published. Even though there is no official rule for estimation of quarterly fixed capital stocks, several methods are currently available to estimate quarterly stocks of fixed capital. The objective of this paper is to estimate the quarterly net fixed capital stock in the Czech Republic at constant prices in industry classification (CZ-NACE rev. 2) compatible with official quarterly statistics of the indicators on national economy. For this estimation we distinguish three basic flows of fixed capital. Firstly, gross fixed capital formation is estimated on the basis of official quarterly statistics which is published only in structure by types of assets. Flow of other changes is mainly uniformly distributed. Only in case of catastrophes it was possible to allocate these changes into appropriate quarter. Secondly, net fixed capital stock and consumption of fixed capital are estimated simultaneously on the basis of the assumption of relation between the value of the stock and its depreciation.
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Septiantoro, Ali Akbar, Heni Hasanah, Muhammad Findi Alexandi, and Sri Retno Wahyu Nugraheni. "Apakah Kualitas Institusi Berpengaruh pada Arus Masuk FDI di ASEAN?" Jurnal Ekonomi dan Pembangunan Indonesia 20, no. 2 (May 31, 2020): 146–59. http://dx.doi.org/10.21002/jepi.v20i2.1132.
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This paper examines the impact of institutional quality (government effectiveness index, voice and accountability index, and political stability) and economic variables (Gross Domestic Product [GDP], inflation, trade openness, and gross fixed capital formation) on Foreign Direct Investment (FDI) inflows in ASEAN 2012–2016 by using panel data analysis. The obtained results indicate that economics variables have a greater impact on FDI than political stability indicator. Our findings also suggest that insignificant effect of democracy and institutional quality indicator on FDI caused by the high level of corruption in ASEAN which maybe has a crowding out effect to level of democracy and institutional quality. ----------------------------------- Tujuan dari penelitian ini adalah untuk mengetahui pengaruh kualitas institusi (indeks government effectiveness, indeks voice and accountability, indeks stabilitas politik) dan variabel ekonomi lain (Gross Domestic Product [GDP], inflasi, keterbukaan perdagangan, dan gross fixed capital formation) terhadap Foreign Direct Investment (FDI) pada negara ASEAN periode tahun 2012–2016 dengan menggunakan analisis panel data. Hasil estimasi menunjukkan bahwa variabel ekonomi memiliki pengaruh yang lebih besar terhadap FDI dibandingkan dengan indikator stabilitas politik. Hasil kajian ini juga menemukan bahwa tidak signifikannya pengaruh indikator demokrasi dan kualitas institusi terhadap FDI dikarenakan tingginya tingkat korupsi yang mungkin memiliki efek crowding out terhadap tingkat demokrasi dan kualitas institusi.
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Hasli, Anita, Catherine S. F. Ho, and Nurhani Aba Ibrahim. "Determinants of FDI inflow in Asia." Journal of Emerging Economies and Islamic Research 3, no. 3 (September 30, 2015): 9. http://dx.doi.org/10.24191/jeeir.v3i3.9064.
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The research analyses the determinants of FDI inflow in Asia for the period 1993-2013 and is based on the fixed effect model. The macroeconomic factors included are lending rate, GDP per capita, trade openness, debt, exchange rate, money supply and unemployment rate. The country specific factors included are adult literacy rate, gross fixed capital formation, domestic credit provided by the financial sector, environmental pollution and natural resources rents. The study applies panel unit root tests, panel cointegration analysis and panel regression analysis based on the fixed effect model to ascertain the significance of macroeconomic and country specific factors on FDI inflow in Asia. The study found that lending rate, trade openness and money supply have a positive significance to FDI per capita whereas debt, unemployment rate and environmental pollution have a negative significance to FDI per capita.
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Purba, B., R. Masbar, I. Maipita, and A. Jamal. "The Effect of Capital Expenditure and Gross Fixed Capital Formation on Income Disparity in West Coast Region of North Sumatera." IOP Conference Series: Earth and Environmental Science 260 (June 7, 2019): 012022. http://dx.doi.org/10.1088/1755-1315/260/1/012022.
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KIM YOUNG SEOK. "A Study on the effects of BNDES loans on the Gross Fixed Capital Formation of Brazil." Journal of Lusophone Area Studies 15, no. 2 (August 2018): 135–63. http://dx.doi.org/10.21540/kalas.15.2.201808.135.
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PANIĆ, M. "GROSS FIXED CAPITAL FORMATION AND ECONOMIC GROWTH IN THE UNITED KINGDOM AND WEST GERMANY 1954-1964*." Bulletin of the Oxford University Institute of Economics & Statistics 29, no. 4 (May 1, 2009): 395–406. http://dx.doi.org/10.1111/j.1468-0084.1967.mp29004004.x.
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Škabić, Ines Kersan. "Empirical Evidence of Capital Mobility in the EU New Member States." Zagreb International Review of Economics and Business 19, s1 (December 1, 2016): 29–42. http://dx.doi.org/10.1515/zireb-2016-0011.
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Abstract This research is focused on the analysis of capital mobility indicators in the EU new member states as capital market union is one of the newest initiative in the EU. We found the most integrated countries are Hungary, the Czech R., Croatia and Estonia. Econometric analysis emphasized the main determinants of capital account openness and of FDI inward stock. The analysis indicates that the level of development, intra-EU trade and FDI inward stock have a positive impact on capital account openness (mobility), while inflation has a negative infl uence. The GDP per capita, intra- EU trade and capital account openness have positive impact on FDI inward stock while inflation and gross fixed capital formation have negative influence. Unexpectedly, fiscal variables and interest rates do not have a significant impact on capital openness. The results show that there is room for improvement in all countries that would enable more favorable access to capital.
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Alber, Nader, and Vivian Bushra Kheir. "Public-Private Investment and Macroeconomic Determinants: Evidence from MENA Countries." International Journal of Economics and Finance 11, no. 1 (December 2, 2018): 15. http://dx.doi.org/10.5539/ijef.v11n1p15.
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This paper attempts to demonstrate the relationship between macroeconomic factors and each of Private Investment in Energy (PIE) and Private Investment in Telecoms (PIT) from 1990 to 2016 in 21 MENA countries (Algeria, Bahrain, Djibouti, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Malta, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates, Palestine and Yemen).
Results reveal that both PIE and PIT are Granger caused by GDP, Real Interest Rate, Gross fixed capital formation, private sector, stocks traded are Granger causing PIE. Also, Inflation, Exports of goods and services and Commercial bank branches are Granger causing PIT. All of the ten macroeconomic variables taken up in study are cointegrated with Investment in energy and telecoms with private participation in the long run.
Besides, shocks to all of GDP, gross fixed capital formation, private sector to GDP, general government final consumption expenditure, stocks traded and commercial bank branches (as a proxy of financial inclusion) have a positive and statistically significant effect on the private investment in energy and telecoms.
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Acharya, Rameshwar. "Impact of Remittance on Economic Development of Nepal." PYC Nepal Journal of Management 10, no. 1 (August 31, 2017): 19–30. http://dx.doi.org/10.3126/pycnjm.v10i1.36064.
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This study assesses the impact of remittance on Gross Domestic Product (GDP), Gross National Product (GNP) and Per Capita Income (PCI) of Nepal employing multiple regression method on national annual time series data for a period of 41 years (from 1974/75 to 2014/15). The results show that there is positive impact of remittance on GDP, GNP and PCI. Further, the findings clearly provide an evidence of predictive power of fixed capital formation on economic development. But the role of export could not be established. Finally, to foster the economic development, it is suggested that the government should initiate policy to channelize the remittance income into the productive uses by offering attractive investment schemes to the remittance receiving families.
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Chiang, Gengnan, and Ming-Yi Wu. "The Richer the Greener: Evidence from G7 Countries." International Journal of Economics and Finance 9, no. 10 (August 28, 2017): 11. http://dx.doi.org/10.5539/ijef.v9n10p11.
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This research applies a recently-developed nonlinear panel smooth transition regression (PSTR) model and takes into account the potential endogeneity biases to examine whether Environmental Kuznets Curve (EKC) exists in G7 countries over the period 1991-2008. This research makes three contributions to the CO2 emissions literature. First, we apply the panel smooth transition regression (PSTR) model of González et al. (2005) to investigate the relationship among CO2 emissions per capita, energy use per capita, real gross fixed capital formation, real GDP per capita, and labor participation rate for G7 countries. Second, we complement the existing literature by simultaneously examining the impacts of energy use, real gross fixed capital formation, real GDP, and labor participation rate on CO2 emissions and take into account endogenous determination of real GDP on the PSTR model for CO2 emissions. Third, based on the characteristics of the PSTR model, we can consider the elasticity of CO2 emissions changes with country and time to analyze the elasticity of heterogeneous countries and the potential impacts of structural breaks on the CO2 emissions elasticity in the panel framework. Based on the elasticity of the CO2 emissions with respect to real income per capita, the environmental quality is a necessary good in Japan, the UK, and the USA, but a luxury good in the rest of G7 countries. Thus, there exists an inverted U-shaped relationship between CO2 emissions and real income per capita with the threshold value of US$20,488, which is endogenously determined. This finding supports the existence of EKC in G7 countries. In other words, our results confirm there exists the regime-switching effect of real income on CO2 emissions in G7 countries.
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Arjun K., Sanjay Kumar, A. Sankaran, and Mousumi Das. "Open Door System and Endogenous Growth in Indian Economy: An Empirical Analysis on the Role of Human Capital and R&D in Explaining Industrial Productivity." Management and Labour Studies 46, no. 1 (January 6, 2021): 24–37. http://dx.doi.org/10.1177/0258042x20976948.
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The present study investigates the impact of human capital, knowledge capital which is a function of human capital, and real exchange rate scenario in explaining long-run industrial total factor productivity (TFP) from 1980 to 2015 on the theoretical basis of the open endogenous growth model. The variables employed in the contemporary study include manufacturing value added (MNVA) as industrial output measure, gross fixed capital formation (GFCF) as a measure of capital and labour input which is measured using employment data. Gross enrolment ratio (GER) is taken as a measure for human capital formation, expenditure on research and development (R&D) as a proxy for knowledge capital, and real exchange rate indicates global economic shocks. The study involves estimating TFP for Industrial Sector during the post-liberalization period by employing Cobb-Douglas production function. The ARDL bounds test technique for cointegration revealed long-run relation among the varying factors studied. The Toda-Yamamoto causality test concluded bi-directional causality running between, R&D expenditure and Industrial TFP which sends a strong signal to the policymakers for a well-framed long-term integrated approach for human & knowledge capital formation which will act as a strong impetus for manufacturing firms to come up in terms of augmenting production and productivity and expanding foreign market horizon. JEL Classification: D24, E2, J24
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Odunga, Pius O., Geoffrey Manyara, and Mark Yobesia. "Estimating the direct contribution of tourism to Rwanda’s economy: Tourism satellite account methodology." Tourism and Hospitality Research 20, no. 3 (July 15, 2019): 259–71. http://dx.doi.org/10.1177/1467358419857786.
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The tourism industry is poised to command a significant role in the economy of Rwanda, a low-income developing country that is rapidly transforming into a service-oriented economy. However, the industry does not exist as a distinct entity in a country’s national accounts leading to difficulties in estimating its role. Besides, the existence of a significant informal sector aggravates the situation. This study used tourism satellite accounts approach to estimate the economic contribution of tourism. Using primary data from various tourism surveys, six core tables of the tourism satellite accounts framework are presented to estimate the direct economic contribution of tourism to Rwanda’s economy in 2014. In this year, a total of 1,219,529 international tourists visited the country while 560,000 residents took part in domestic tourism trips resulting in internal tourism expenditure/consumption amounting to RWF 261.2bn. This generated an estimated RWF 197.5bn as gross value added by the tourism characteristic industries. Direct tourism gross value added was estimated at RWF 120.0bn while direct tourism gross domestic product, a measure of the direct effects of internal tourism consumption on gross domestic product of the economy was computed at RWF 128.3bn (or 2.5% of Rwanda’s gross domestic product) in the year. In addition to the core six tourism satellite accounts tables, the levels of tourism employment (about 89,000 jobs) tourism gross fixed capital formation (slightly over RWF 200bn) and tourism collective consumption (over RWF 7bn) were estimated. Under this study, the international methodological recommendations on tourism satellite accounts were implemented for Rwanda. The contribution of tourism to gross domestic product, employment, investment, and collective consumption was quantified and estimated. Informal sector tourism activities were included in these estimates. Gross fixed capital formation and collective consumption estimates are tentative due to conceptual considerations documented by the methodological framework.
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Lymonova, E. "Estimation of the effect of taxes and gross fixed capital formation on economic growth of euro area." Academy Review 1, no. 50 (2019): 5–14. http://dx.doi.org/10.32342/2074-5354-2019-1-50-1.
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Lameira, Valdir, Fabiana Alcântara, Dino Chiappori, and Roberto Pereira. "RENEWABLE ENERGIES AND ECONOMIC DEVELOPMENT: EVIDENCES OF STUDY IN PANEL." Brazilian Journal of Operations & Production Management 13, no. 2 (June 22, 2016): 208. http://dx.doi.org/10.14488/bjopm.2016.v13.n2.a7.
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The concerns with sustainability in environmental and social realm led to an expressive increase in generation of energy of renewable sources in last years. This paper addresses an investigation on possible associations between the increase of renewable energies generation and the economic and financial performance indicators of countries. The multiple linear regressions method is applied to a data panel of the period from 2005 to 2008, in 54 countries. The outcomes point to an association between higher generation of renewable energies and lower GDP growths, higher per capita income and higher investments in gross fixed capital formation, besides other interesting associations.
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Ивченко, Юлия, and Yuliya Ivchenko. "The statistical analysis of fixed investment in Russia for the period 2001–2012 years and the general assessment of the developed investment situation as factor of economic growth." Russian Journal of Management 3, no. 3 (June 30, 2015): 228–39. http://dx.doi.org/10.12737/12062.
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Article is devoted to the analysis of volumes and dynamics of fixed investment of the Russian Federation for the 20012012 period, studying of sources of investment financing, identification of structure of investment on economy branches and assessment of the investment situation in Russia. In the course of the analysis the author revealed the time periods by criterion of nature of investment dynamics and the factors defining dynamics, offered classifications of investment by financing sources and by economy branches, calculated the yield of gross fixed capital formation.
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Rembeza, Jerzy. "Seasonality of GDP and its components in the European Union countries." Wiadomości Statystyczne. The Polish Statistician 62, no. 11 (November 28, 2017): 17–28. http://dx.doi.org/10.5604/01.3001.0014.1060.
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he following research aims at comparing GDP seasonality and its components in the European Union countries. An attempt was made to determine the size of seasonal fluctuations, their share in short-term variability and the differences depending on the country and economic category. The analysis, based on the Eurostat data for the years 2002—2015, relies on a model of deterministic seasonality. The obtained results show large but varied seasonal fluctuations depending on the country and economic category. Gross fixed capital formation was subject to the largest seasonal fluctuations, whereas imports was exposed to the minor ones. A visible negative correlation between GDP seasonality and GDP per capita was found.
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Alili Sulejmani, Liza, and Armend Ademi. "DOES PUBLIC DEBT HAMPER ECONOMIC GROWTH: EVIDENCE FROM EUROPEAN TRANSITIONAL COUNTRIES." Knowledge International Journal 34, no. 5 (October 4, 2019): 1223–28. http://dx.doi.org/10.35120/kij34051223s.
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Lately, there has been an increased interest among policy makers and scholars regarding the nexus between public debt and economic growth, with emphasizes on its effects on transition economies, particularly after the last global financial crisis. This paper tries to investigate the impact of public debt on economic growth in the European transition economies, for the time spin 2000-2016, by using Pooled OLS, Fixed effects, Random effects and Hausman – Taylor Instrumental variable (IV). In addition, results reveal that public debt although has positive effect on per capita growth still is statistically insignificant, whereas debt square has negative effect on per capita GDP growth. Further, gross savings, final consumption and fixed capital formation have positive effect on per capita growth, while government expenditures do not show significant impact. Moreover, such results highlight important implications for fiscal policymakers in these countries in order to foster the economic growth in the context of public debt level.
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Siddica, Asiya, and Mir Tanzim Nur Angkur. "Does Institution Affect the Inflow of FDI? A Panel Data Analysis of Developed and Developing Countries." International Journal of Economics and Finance 9, no. 7 (June 22, 2017): 214. http://dx.doi.org/10.5539/ijef.v9n7p214.
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The objective of this paper is to study the institutional impact on the net FDI inflow along with the other possible determinants of Foreign Direct Investment (FDI) in 40 countries comprising of developing and developed countries over the period of 1990-2010 by using panel econometric model. The dependent variable of our study is log of net FDI inflows measured at current US million dollars of different countries in different points in time and independent variables are log of GDP measured at current US dollars, total trade as a share of GDP, gross fixed capital formation as a share of GDP, inflation as measured by consumer price index (annual %) and log of composite index for infrastructure and a number of institutional variables such as investment profile, law and order and bureaucratic quality. According to the econometric results, the coefficients of log of GDP, trade to GDP ratio, gross fixed capital formation (% GDP), and log of composite index for infrastructure and institutional variables are positive and significant but coefficient of inflation (%, CPI) is negative and significant. Moreover, the institutional variables- investment profile and law and order have positive effect on FDI and bureaucratic quality has negative effect and also statistically significant.
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Meyer, Daniel Francois, and Kaseem Abimbola Sanusi. "A Causality Analysis of the Relationships Between Gross Fixed Capital Formation, Economic Growth and Employment in South Africa." Studia Universitatis Babes-Bolyai Oeconomica 64, no. 1 (April 1, 2019): 33–44. http://dx.doi.org/10.2478/subboec-2019-0003.
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Abstract In terms of macro-economic policy, gross fixed capital formation, which is the major component of domestic investment, is seen as an important process that could accelerate economic growth. This study re-examines the controversial issue of causality between domestic investment, employment and economic growth using South African data. The traditional assumption of causality running from investment to economic growth has remained inconclusive while empirical findings on the investment and employment growth nexus are also largely unsettled. The study makes use of quarterly data from 1995Q1 to 2016Q4 within the framework of the Johansen cointegration and Vector Error Correction Models (VECM). The empirical findings suggest that a long run relationship exists between domestic investment, employment and economic growth, with causality running from economic growth to investment and not vice versa. The results also demonstrate that investment has a positive long-run impact on employment. The empirical evidence further suggests bi-directional causality between employment and economic growth, while evidence of uni-directional causality, from investment to employment, is also found. The major implication of the study is that although there is bi-directional causality between economic growth and employment, economic growth does not translate to increased employment in the long run confirming “jobless growth”. Investment is found to be a positive driver of employment in the South African economy in the long-run. The study concludes that, in order to stimulate employment, investment enhancing policies, such as low interest rates and a favourable economic environment should be put in place to accelerate growth. Measures to promote economic growth, such as improved infrastructural facilities and diversification of the economy, should be further engineered so as to encourage increased investment.
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Shah, Syed Asfand Yar, Naeem Ahmad, Wasim Aslam, and Bilal Haider Subhani. "An Analysis of the Relationships among Exports, Imports, Physical Capital and Economic Growth in Pakistan." Journal of Quantitative Methods 4, no. 1 (March 2, 2020): 1. http://dx.doi.org/10.29145/2020/jqm/040105.
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This review emphasized the relationship among capital formation, economic growth, exports and imports in case of Pakistan scenario using time series data from 1976 to 2015. Augmented Dickey Fuller Test, Johansen Co-integration, Vector error correction model and Granger Causality techniques have been used to check the relationships among exports, imports and economic growth. The results from this study show that the exports, imports, real GDP and gross fixed capital formation have a long run relationship and are co-integrated. This study uses the data of Pakistan and concludes that GDP doesn’t granger cause with the export and import while export and imports do granger cause with the GDP in the long run. Finding of the study also displays that physical capital formation has no impression over GDP. Previous study shows the positive relation among exports, imports, capital formation and economic growth while this study shows that in the long run capital formation and economic growth has no effect. Government subsidizes the exports and also increases the duty bills on imports that help boost the domestic industries manufacture the goods and motivate to produce the best quality of goods.
JEL codes: F2, O47
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Raza, Kashif, Rashid Ahmad, Muhammad Abdul Rehman Shah, and Muhammad Umar. "Islamic Finance and Economic Growth Nexus: An Econometric Analysis." Review of Education, Administration & LAW 2, no. 1 (June 30, 2019): 11–22. http://dx.doi.org/10.47067/real.v2i1.7.
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Researchers have written chain of research papers about the dynamics of financial development and economic growth. The financial capital plays a productive role when it delivers to economic agents who are facing shortage or excess of funds. This study explores the linkages among Islamic financing and economic growth for Pakistan, by using annual time series data from 2005-2018. Islamic banks’ financing funds used as a proxy of Islamic financing, Gross Domestic Product (GDP), Gross Fixed Capital Formation (GFCF), labor force (LF),Broad money(M) and Trade openness (TO) to presents real sector of an economy. For the exploration, the unit root test, Ordinary least square technique and Granger causality test are applied. The results validate a substantial causal relationship of Islamic financing and GDP, which supports the Schumpeter’s supply-leading view. The results indicate that Islamic finance contributed towards economic growth.
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Jacob, Byyiyet Josiah, Yusha’u Ishaya, and Idachaba Odekina Innocent. "Effect of Deposit Mobilization and Credit Financing of Commercial Banks on Capital Formation in Nigeria." International Journal of Small and Medium Enterprises 2, no. 1 (June 24, 2019): 47–55. http://dx.doi.org/10.46281/ijsmes.v2i1.332.
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The low level of Capital formation in Nigeria has been blamed on the low level of savings occasioned by the low income level and high level of consumption which reduce the ability of banks to create money through intermediation. This study investigates the effect of deposit mobilization and credit financing of commercial banks on capital formation in Nigeria. Gross fixed capital formation was used as proxy for dependent variable, while credit to private sectors, lending rate and Total deposit liabilities were used as proxies of independent variables. The study employed time series quarterly data from Q1 1980 to Q4 2015, which constitutes 48 observations. Multiple regression techniques were used to analyze the data. The study found that (LRN and TDL) have positive impact on GFCF of Nigeria while credit to private sector has an inverse relationship with GDP. In view of this finding, the study recommended that Nigeria commercial banks should re-direct their intermediation activities effectively.
JEL Classification: C22, C87, G2, G21, G29
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Sozanskyy, L. Yo. "Estimation of the Dependence of the Ukrainian Economy on the Import of Products from the Processing Industry in the Segments of Intermediate Consumption and Gross Fixed Capital Formation." Statistics of Ukraine 82, no. 3 (September 4, 2018): 15–25. http://dx.doi.org/10.31767/su.3(82)2018.03.02.
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Given the fact that the structure of import of goods and services of Ukraine dominates the products of the manufacturing industry, it became necessary to study the dependence of the Ukrainian economy on the production of this type of industrial activity. To do this, an estimation of the dependence of the Ukrainian economy on the use of the import of manufacturing industries in the manufacturing industry was made, in terms of the two key uses of resources – intermediate consumption products and gross fixed capital formation. The information base for such an assessment was the data of the tables “output-input”.
As a result of undertaken a study certainly, that most the Ukrainian economy depends on the import of products of intermediate consumption of such productions of manufacturing industry: computers, electronic and optical products (» 90%); chemicals and chemical products (> 80%); machine building (> 80%); coke and refined products (> 60%); textile production, clothing, clothing, leather and other materials (> 60%). Along with the use of imports, the use of domestic production in the intermediate consumption segment has considerably increased in Ukraine. The intermediate consumption of domestic products of production: computers, electronic and optical products; grew at the highest rates; machinery and equipment, not attributed to other groups; textile production, clothing, leather and other materials production.
The level of import dependence of the Ukrainian economy in segments of the gross fixed capital formation in manufacturing industries is » 85%. The highest level of import dependence of the Ukrainian economy in the segment of gross fixed capital formation (more than 90%) is characteristic for production products: computers, electronic and optical products; machinery and equipment not included in other groups; motor vehicles, trailers and semitrailers.
Thus, the promising directions of import substitution in Ukraine relate primarily to the abovementioned industries. The hypothesis that for the implementation of import substitution in the Ukrainian economy, it is necessary for each of the identified directions, to carry out detailed calculations of the capacity of the target market segments (both internal and external), the volume of investments necessary for the organization of the corresponding production, their profitability and the payback period, as well as the number of newly created jobs.
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Chile, Nzeh Innocent, Benedict I. Uzoechina, Millicent Adanne Eze, Chika P. Imoagwu, and Uzoma M. Anyachebelu. "Does the Abundance of Natural Resources Crowd-Out the Manufacturing Sector? Evidence from Nigeria." Asian Development Policy Review 9, no. 3 (September 14, 2021): 108–26. http://dx.doi.org/10.18488/journal.107.2021.93.108.126.
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Our objective in this study is to investigate if natural resource abundance can crowed-out the manufacturing sector in Nigeria. Under the framework of an ARDL and over a period of 1990-2019, findings of the results showed that in the short-run, natural resources positively impact on the manufacturing value added in the current period; however, after a one period lag, the contribution of natural resources to the manufacturing value added becomes negative. We also found that in the short-run, real interest rate, inflation rate and trade openness are negatively linked to the manufacturing value added, while employment in industry and gross fixed capital formation are positively related to the manufacturing value added. In the long-run, natural resources contributed positively to the manufacturing value added. The long-run results also show that the gross fixed capital formation and inflation rate negatively impact on the manufacturing valued added. The implication of our finding is that natural resources rent is closely linked to the success of the manufacturing sector and as such can also crowd-out the manufacturing sector. On grounds of these findings, we recommend, among others; that the proceeds from natural resources should be used to build critical infrastructure necessary to improve the performance of the manufacturing sector. This way, the economy can be diversified to create the needed employment.
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Akpolat, Ahmet Gökçe. "The Long-Term Impact of Human Capital Investment on GDP: A Panel Cointegrated Regression Analysis." Economics Research International 2014 (August 5, 2014): 1–10. http://dx.doi.org/10.1155/2014/646518.
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This study aims to determine the long-run impact of physical and human capital on GDP by using the panel data set of 13 developed and 11 developing countries over the period 1970–2010. Gross fixed capital formation is used as physical capital indicator while education expenditures and life expectancy at birth are used as human capital indicators. Panel DOLS and FMOLS panel cointegrated regression models are exploited to detect the magnitude and sign of the cointegration relationship and compare the effect of these physical and human capital variables according to these two different country groups. As a consequence of panels DOLS and FMOLS models, the impact of physical capital and education expenditures on GDP in the developed countries is determined as higher than the impact in the developing countries. On the other hand, the impact of life expectancy at birth on GDP is determined as higher in the developing countries.
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Areeba Khan, Quratul Ain, and Hafiz Abdur Rashid. "The Drivers of Stock Market Growth in Pakistan: How Relevant is Irrelevant?" Journal of Accounting and Finance in Emerging Economies 6, no. 4 (December 4, 2020): 1189–97. http://dx.doi.org/10.26710/jafee.v6i4.1479.
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Pakistan’s stock market has experienced severe downside volatility after its classification in MSCI’s emerging market index in 2016. Global pandemic, political instability and capital limitations through money laundering control mechanisms have exposed the foundations of capital allocation to an escalating risk of default. The situation prerequisites a review of contentious relationship between drivers of economic growth and stock market expansion.
This paper seeks to examine the relationship between non-financial and banal drivers of economic growth and their relative impact on stock market development in Pakistan, building on the fact that financial market development is a direct outcome of economic growth and development of the generic capabilities of production and capital formation through profit trails.
GMM approach is used to analyze the contribution of capital formation and allocation through generic productivity and risk allocation mechanism. The paper discusses GDP growth, Gross fixed capital formation, Private credit and use of IMF credit as instrumental in determining stock market expansion. Originality of the research transpires from the fact that key outputs of real sector have been added to analyze the development of financial market which have long been ignored as extraneous for empirical analysis.
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Samborski, Adam. "Finansowanie przedsiębiorstw w krajach Grupy Wyszehradzkiej." Zeszyty Naukowe SGGW w Warszawie - Problemy Rolnictwa Światowego 19(34), no. 1 (April 1, 2019): 98–109. http://dx.doi.org/10.22630/prs.2019.19.1.9.
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The article addresses the issue of financing enterprises in the Visegrad Group countries in the years 1995-2015. The analyzes used source data derived from national accounts. On the basis of the conducted research, an increase in the self-financing level was observed in Czech, Hungarian, Polish and Slovak enterprises. A decrease in the value of net liabilities incurred was also noted. Among the reasons, a high level of gross savings in the enterprise sector and a decline in the gross fixed capital formation was indicated. The main source of external funding were three categories of financial instruments, namely loans, equity, other accounts receivable / payable. The conclusions emphasized that despite the decrease in the level of external financing, there were no significant changes in its structure.
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Abdelhameed, Fawzeya Ahmed, and Abeer M. Rashdan. "A Deeper Look Into Political Instability and Economic Growth: Case Study and Empirical Analysis on a Selection of Countries." Research in World Economy 12, no. 3 (April 28, 2021): 18. http://dx.doi.org/10.5430/rwe.v12n3p18.
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The purpose of the study is to investigate the nature of the relationship between political instability and economic growth in a selection of countries witnessing political instability including Egypt, Tunisia, Algeria, Sudan, Brazil, Turkey and Indonesia, during the era (1994-2019). Research methods include country case study analysis of macroeconomic indicators and an empirical analysis, to determine whether political instability plays a significant and important role in the different dimensions of economic growth measured by the Human Development Index, Gross Domestic Product GDP, and gross fixed capital formation. Findings prove a significant negative relationship between political instability and economic growth statistically and economically. Recommendations highlight the importance of transmission channels that enforce the significant negative relationship between political instability and economic development.
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W., Akinola G., and Bokana K. G. "Human Capital, Higher Education Enrolment and Economic Growth in the SSA Countries (Panel Model Approach)." Journal of Economics and Behavioral Studies 9, no. 6(J) (January 15, 2018): 215–26. http://dx.doi.org/10.22610/jebs.v9i6(j).2018.
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This study offers exploratory analysis on the relationship among human capital, higher education enrolment and economic growth in SSA countries. With data from twenty-two African countries across the four economic blocs, five variables which include human capital formation, capital stock, employment rate, total factor productivity and higher education enrolment were regressed against gross domestic product per capital. Panel analysis which includes fixed and random effects analyses were carried out. We report results from fixed effect (within) regression as Hausman test suggests. It was discovered that SADC countries perform better among the four economic blocs. To further study individual country specific effects, we employ least square dummy variables (LSDV). Sixteen countries out of twenty-two exhibit specific effects. Our findings revealed that enrolment rate of higher education in SSA have a very weak relationship with economic growth in the SSA countries. This reflects why there is a weak relationship between economic growth and the total factor productivity and consequently negative consequential effects on our total factor productivity. The main policy implication is that for SSA countries to maintain sustainable economic growth, home based human capital must be given a priority in the form of increased higher education budget and financing.
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W., Akinola G., and Bokana K. G. "Human Capital, Higher Education Enrolment and Economic Growth in the SSA Countries (Panel Model Approach)." Journal of Economics and Behavioral Studies 9, no. 6 (January 15, 2018): 215. http://dx.doi.org/10.22610/jebs.v9i6.2018.
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This study offers exploratory analysis on the relationship among human capital, higher education enrolment and economic growth in SSA countries. With data from twenty-two African countries across the four economic blocs, five variables which include human capital formation, capital stock, employment rate, total factor productivity and higher education enrolment were regressed against gross domestic product per capital. Panel analysis which includes fixed and random effects analyses were carried out. We report results from fixed effect (within) regression as Hausman test suggests. It was discovered that SADC countries perform better among the four economic blocs. To further study individual country specific effects, we employ least square dummy variables (LSDV). Sixteen countries out of twenty-two exhibit specific effects. Our findings revealed that enrolment rate of higher education in SSA have a very weak relationship with economic growth in the SSA countries. This reflects why there is a weak relationship between economic growth and the total factor productivity and consequently negative consequential effects on our total factor productivity. The main policy implication is that for SSA countries to maintain sustainable economic growth, home based human capital must be given a priority in the form of increased higher education budget and financing.
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Olomola, Phillip Akanni, and Tolulope Temilola Osinubi. "Determinants of Total Factor Productivity in Mexico, Indonesia, Nigeria, and Turkey (1980–2014)." Emerging Economy Studies 4, no. 2 (September 27, 2018): 192–217. http://dx.doi.org/10.1177/2394901518795072.
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This study analyzed the macroeconomic and institutional determinants of total factor productivity (TFP) in the MINT (Mexico, Indonesia, Nigeria, and Turkey) countries during the period 1980–2014. Annual data covering the period between 1980 and 2014 were used. Data on real gross domestic product (real GDP), labor force, gross fixed capital formation, foreign direct investment (FDI), human capital, and inflation were sourced from the World Development Indicators published by the World Bank. Also, data on corruption, government stability, and law and order were obtained from the database of International Country Risk Guide. Panel autoregressive distributed lag (PARDL) regression technique was used to estimate the model. Results showed that TFP growth rate declined on average by 1.4 per cent and 1.8 per cent in Mexico and Turkey, respectively, while Indonesia and Nigeria did not experience productivity growth on the average. Results also showed that in the long run, human capital and government stability had positive and significant effects on TFP, while FDI and corruption had negative but significant effects on TFP. In the short run, there existed a significant negative relationship between TFP and inflation. However, the effects of human capital and corruption on TFP were positive and significant. The study concluded that human capital and corruption were key drivers of TFP in the MINT countries both in the long run and short run.