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Academic literature on the topic 'Phillips curve evidence in developed and developing countries'
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Journal articles on the topic "Phillips curve evidence in developed and developing countries"
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John, Adjei. "Investigating the Evidence of the Philips Curve in Ghana, Nigeria and the US: Does the empirical evidence support the Philips Curve in Ghana, Nigeria and the US?" International Journal of Novel Research in Marketing Management and Economics 10, no. 1 (2023): 1–16. https://doi.org/10.5281/zenodo.7501099.
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<strong>Abstract:</strong> The main purpose of this study is to quantitatively explore the empirical evidence either in support of or against the existence of the Phillips curve in Ghana using a modified version of the New Keynesian Phillips curve (NKPC) model with Nigeria and US as benchmarks. With time-series data from 1971-2020, the study uses the Ordinary Least Squares (OLS) regression framework to analyse the statistical significance of the parameters of the model. Using different measures of market tightness, informed by Chow’s structural break test, and drawing on variants of the NKPC, the study interestingly finds that the standard positive association between the output gap and inflation for the US and other advanced economies is not present for Ghana and Nigeria. This new discovery has important relevance for the conduct of economic policy in Ghana, Nigeria and other developing countries and warrants a careful evaluation of the application of the NKPC for developing and emerging economies. <strong>Keywords:</strong> Inflation, Money, Monetary Policy, New Keynesian Model, New Keynesian Phillips curve, Phillips curve, Phillips curve evidence, flattening of the Phillips Curve, Phillips curve evidence in developed and developing countries. <strong>Title:</strong> Investigating the Evidence of the Philips Curve in Ghana, Nigeria and the US: Does the empirical evidence support the Philips Curve in Ghana, Nigeria and the US? <strong>Author:</strong> John Adjei <strong>International Journal of Novel Research in Marketing Management and Economics</strong> <strong>ISSN 2394-7322</strong> <strong>Vol. 10, Issue 1, January 2023 - April 2023</strong> <strong>Page No: 1-16</strong> <strong>Novelty Journals</strong> <strong>Website: www.noveltyjournals.com</strong> <strong>Published Date: 03-</strong><strong> January- 2023</strong> <strong>DOI: https://doi.org/10.5281/zenodo.7501099</strong> <strong>Paper Download Link (Source)</strong> <strong>https://www.noveltyjournals.com/upload/paper/Investigating%20the%20Evidence%20of%20the%20Philips%20Curve-03012023-1.pdf</strong>
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Dua, Pami, and Upasna Gaur. "Determination of inflation in an open economy Phillips curve framework: the case of developed and developing Asian countries." Macroeconomics and Finance in Emerging Market Economies 3, no. 1 (2010): 33–51. http://dx.doi.org/10.1080/17520840903498107.
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Resurreccion, Pamela F. "Linking Unemployment to Inflation and Economic Growth: Toward A Better Understanding of Unemployment in the Philippines." Asian Journal of Economic Modelling 2, no. 4 (2014): 156–68. http://dx.doi.org/10.18488/journal.8.2014.24.156.168.
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Unemployment is among the major problems not only in less developed and developing countries but in developed countries as well. It spells out the extent of poverty a household will have to sustain. Strongly influenced by the premises of the Okun’s Law and Phillips Curve, this study sought to determine the link between unemployment and inflation and economic growth. An additional explanatory variable, age dependency ratio, was introduced to investigate this facet of unemployment which is based on the premise that a high age dependency ratio would result to lower unemployment. Unit root tests were employed to the data series prior to testing the hypothesized relationships which employed ordinary least squares (OLS) regression technique. Tests for heteroskedasticity and collinearity were done using White’s test and VIF, respectively. It was found that unemployment is negatively related to inflation and economic growth, confirming Okun’s Law and Philips Curve in the Philippines for the period covering 1980 to 2009. Moreover, age dependency ratio was found to be positively related with unemployment albeit, the relationship is not significant. The coefficient of determination obtained for the model was 72.7% hence overall, the regression line relatively describes the data well.
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Sonia Kumari Selvarajan and Rossazana Ab-Rahim. "Economic Liberalization And Its Link To Convergence: Empirical Evidence From RCEP and TPPA Countries." International Journal of Business and Society 18, no. 3 (2021): 439–60. http://dx.doi.org/10.33736/ijbs.3122.2017.
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Economic liberalization has been the emphasisof adjustment policies in developing countries; ASEAN countries jumped on the bandwagon and espousedeconomic reforms by liberalizingits international trade andfinancial policies. Through the development of free tradeagreement policies such as AEC and RCEP,regional economic integration is accelerating in South East Asia; not leaving behind the less developed member countries such as Cambodia, Lao PDR, Myanmar and Vietnam (CLMV). Hence, the objectives ofthis paper are to examine the dynamic impact of economic liberalization (financial and trade liberalization) on ASEAN’seconomic growth and to assess the possibility of the existence of convergence club between ASEAN and its RCEPcounterparts. Using the annual data covering the period of 1994to 2014, the analysis is based on the Pooled Mean Group (PMG) estimations for liberalization analysis while the Phillips and Sul (2007) methodology is used to assess the economic convergence clubs. The empirical evidence suggests that both trade and financial liberalization play a significant role in ASEAN’seconomic growth. For convergencein RCEP,full sample find an absence of homogenous convergence;as a result, four club convergencesare formed.The result highlights the importance of trade and financial liberalization in enhancing economic growth of ASEANandimpliesthat strong commitments in continuation of liberalization and integration policies arerecommended to promote a sustained economic growth.
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Amjad, Maida, and Nabila Asghar. "Investigating Asymmetric Relationship between Financial Development and Global Competitiveness in Developed and Developing Countries." iRASD Journal of Economics 6, no. 3 (2024): 694–709. http://dx.doi.org/10.52131/joe.2024.0603.0233.
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Globalization led to economic integration, which increased the competitiveness of economies through interconnection and interdependence. Financial Development (FD) is considered as an engine of Economic Growth (EG) that significantly contributes in economic productivity and raising prosperity in an economy. This study aims to analyze the relationship between FD and global competitiveness from a global perspective. For this purpose, panel data of 87 developed and 60 developing countries have been used for the period 2000- 2020. The Panel Quantile Regression (PQR) estimation technique has been used for the analysis. The results demonstrate that sustainable FD significantly increases the competitiveness of all countries. However, this impact is non-linear across different quantile groups which suggests evidence of an inverted U-shaped relationship. The linearized marginal effect indicates that all developed economies lie before the maturity of the inverted U-shaped curve. In contrast, except Bolivia, Cabo Verde, Egypt, India, Indonesia, Korea Rep of, Lebanon, Mongolia, Morocco, Nigeria, Pakistan, Philippines, Siri Lanka, Tunisia, and Vietnam, all remaining developing nations also lie before the maturity of an inverted U-shaped curve. This indicates that FD accelerates global competitiveness up to a certain optimal point, and excessive financialization may lead to the misallocation of resources and raising financial risk. The study suggests that developing countries need to implement policies to attain optimal level of sustainable FD, which boosts their competitiveness. The major contribution of the present study is to help the policy makers to formulate proper policies to increase global competitiveness.
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Idris, Idris, and Yollit Permata Sari. "Economic Growth and The Quality of Environment: Evidence of The Environmental Kuznets Curve (EKC) in Indonesia." Ekonomi Bisnis 27, no. 1 (2022): 12. http://dx.doi.org/10.17977/um042v27i1p12-23.
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This study proved the EKC hypothesis results of the trade-off between economic growth and environmental degradation in Indonesia. The researchers used the non-linear quadratic regression estimation. This study found that the EKC hypothesis was almost valid in all islands in Indonesia, such as Sumatra Island, Sulawesi Island, Borneo Island, and Small Island in the Eastern Region of Indonesia. Thus, the economic growth causes the environmental gradation while the trade-off did not apply in Java and Bali. Government policies regarding the environment and globalization played an important role in generating and transferring production technology that saved resources and used cleaner technology from developed countries to developing countries so the EKC hypothesis does not apply in Indonesia.
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Prasetyanto, Panji Kusuma, Rr Retno Sugiharti, and Jihad Lukis Panjawa. "Urbanization-Growth-Environment: How Are They Related? An Evidence from the Global Asia-Pacific Region." International Journal of Energy Economics and Policy 13, no. 2 (2023): 100–106. http://dx.doi.org/10.32479/ijeep.13842.
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Asia and the Pacific have made rapid progress in economic growth but still have work to do in environmental degradation. Logical consequence because pursuing economic progress has raised environmental problems and has become one of the central issues for development. The Asia-Pacific region became the most significant contributor and growth in carbon dioxide emissions compared to other regions. The research objective is to analyze the impact of urbanization on environmental quality and its interaction through economic growth using the standard Dynamic Model of the Autoregressive Distributed Lag approach. The result show demonstrates consistency in developed countries and the High-Income countries categories. Urbanization has a significant negative effect on emissions, and the Growth variable is significantly positive; nevertheless, the EKC curve does not occur. Urbanization deteriorates the relationship between growth and emissions. It is not proven in developing countries and the lower and upper middle income. Equitable development needs to be carried out by every country by considering the quality and sustainable economic institutions and pro-environmental innovations, especially in developing or lower and upper-middle countries.
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Paramati, Sudharshan Reddy, Md Samsul Alam, and Ching-Fu Chen. "The Effects of Tourism on Economic Growth and CO2 Emissions: A Comparison between Developed and Developing Economies." Journal of Travel Research 56, no. 6 (2016): 712–24. http://dx.doi.org/10.1177/0047287516667848.
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This study empirically examines the dynamic relationships among tourism, economic growth, and CO2 emissions and compares the effects of tourism on economic growth and CO2 emissions between developed and developing economies. By employing robust panel econometric techniques, the results show that tourism has significant positive impacts on economic growth for both developed and developing economies, supporting the prevailing hypothesis of tourism-led economic growth. The results also reveal that the impact of tourism on CO2 emissions is reducing much faster in developed economies than in developing economies, providing evidence of the environmental Kuznets curve (EKC) hypothesis on the link between tourism growth and CO2 emissions. Our findings demonstrate the importance of the classification of countries by economic development level to obtain a deeper understanding of relationships among tourism, economic growth, and CO2 emissions. Policy implications are provided and discussed.
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Anderson, Dennis. "Technical progress and pollution abatement: an economic view of selected technologies and practices." Environment and Development Economics 6, no. 3 (2001): 283–311. http://dx.doi.org/10.1017/s1355770x01000171.
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The paper first presents evidence from the engineering literature on air and water pollution control, which shows that, when the pollution abatement technologies are in place, large reductions in pollution have been achieved at costs that are small relative to the costs of production. A simulation model is then developed to study the effects of technical progress on pollution abatement, and applied to particular cases in developing countries. The results are compared with the projections of an environmental Kuznets curve: they reproduce the latter if policies were not to be introduced until per capita incomes reached levels comparable to those of the industrial countries when they first introduced their policies; but show dramatically lower and earlier peaks if policies were to be introduced earlier. The conclusion is shown to apply more generally, and it is argued that developing countries can aspire to addressing their environmental problems at a much earlier phase of development than the industrial countries before them.
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Pattnaik, Sarthak, Maryan Rizinski, and Eugene Pinsky. "Rethinking Inequality: The Complex Dynamics Beyond the Kuznets Curve." Data 10, no. 6 (2025): 88. https://doi.org/10.3390/data10060088.
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Income inequality has emerged as a defining challenge of our time, particularly in advanced economies, where the gap between rich and poor has reached unprecedented levels. This study analyzes income inequality trends from 2000 to 2023 across developed countries (the United States, the United Kingdom, Germany, and France) and developing nations using World Bank Gini coefficient data. We employ comprehensive visualization techniques, Pareto distribution analysis, and ARIMA time-series forecasting models to evaluate the effectiveness of the Kuznets curve as a predictor of income inequality. Our analysis reveals significant deviations from the traditional inverse U-shaped Kuznets curve across all examined countries, with persistent volatility rather than the predicted decline in inequality. Forecasts using ARIMA and neural networks indicate continued fluctuations in inequality through 2030, with the U.S. and Germany showing upward trends while France and the UK demonstrate relative stability. These findings challenge the conventional Kuznets hypothesis and demonstrate that contemporary inequality patterns are influenced by factors beyond economic development, including technological change, globalization, and policy choices. This research contributes to the literature by providing empirical evidence that the Kuznets curve has limited predictive power in modern economies, informing policymakers about the need for targeted interventions to address persistent inequality rather than relying on economic growth alone.
Conference papers on the topic "Phillips curve evidence in developed and developing countries"
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Almeida Filho, Benedito de Sousa, Michelle Sako Omodei, Eduardo Carvalho Pessoa, Heloisa de Luca Vespoli, and Eliana Aguiar Petri Nahas. "NEGATIVE IMPACT OF SERUM VITAMIN D DEFICIENCY ON BREAST CANCER SURVIVAL." In XXIV Congresso Brasileiro de Mastologia. Mastology, 2022. http://dx.doi.org/10.29289/259453942022v32s1058.
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Introduction: It is known that breast cancer is the type of cancer that mostly affects women in the world, both in the developing and developed countries, with about 2.3 million new cases in 2020, comprising 25% of all cancers diagnosed in women. Vitamin D concentration has been studied as a risk and prognostic factor in women with breast cancer; its deficiency is common in women with postmenopausal breast cancer, and some evidence suggests that low vitamin D status increases the risk for disease development. The impact of vitamin D at the time of diagnosis on the outcome of patients with breast cancer is less well understood. In view of the increasing number of breast cancer survivors and the high prevalence of vitamin D deficiency among patients with breast cancer, an evaluation of the role of vitamin D in prognosis and survival among patients with breast cancer is essential. Objective: The aim of this study was to evaluate the association between serum vitamin D (VD) levels at diagnosis and overall survival (OS), disease-free survival (DFS), and cancer-specific survival (CSS) in postmenopausal women treated for breast cancer. Methods: This is a single-center prospective cohort. The study included patients newly diagnosed with invasive breast cancer between 2014 and 2016, aged ≥45 years, and in amenorrhea for ≥12 months, and VD assessment at the time of diagnosis, before any cancer treatment. Patients were classified into three groups according to serum levels of 25-hydroxyvitamin-D [25(OH)D]: sufficient (≥30 ng/mL), insufficient (between 20 and 29 ng/mL), and deficient (<20 ng/mL). Clinical and anatomopathological data were collected. The primary outcome was OS and secondary outcomes were DFS and CSS. Kaplan-Meier curve and Cox regression model were used to assess the association between 25(OH)D levels and OS, DFS, and CSS. Differences in survival were evaluated by hazard ratios (HRs). The study was approved by the Ethics Committee (CAAE: 71399117.2.0000.5411). Results: The study included 192 women with a mean age of 61.3±9.6 years at diagnosis, mean 25(OH)D levels of 25.8 ng/mL (ranging from 12.0 to 59.2 ng/mL), and follow-up period between 54 and 78 months. Sufficient VD levels were detected in 65 patients (33.9%), insufficient in 92 (47.9%), and deficient in 35 (18.2%). Patients with 25(OH)D insufficiency and deficiency had a larger proportion of high-grade tumors, locally advanced and with distant metastasis, positive axillary lymph nodes, negative estrogen receptors (ER), and progesterone receptors (PR), and higher Ki67 index (p<0.05 ). The mean OS time was 54.4±20.2 months (range 9–78 months), and 51 patients (26.6%) died during the study period. Patients with VD deficiency and insufficiency at diagnosis had significantly lower OS, DFS, and CSS compared to patients with sufficient values (p <0.0001). After the adjustment for clinical and tumoral prognostic factors, patients with serum 25(OH)D levels considered deficient at the time of diagnosis had a significantly higher risk of global death (HR=4.65, 95%CI 1.65–13.12), higher risk of disease recurrence (HR=6.87, 95%CI 2.35–21.18), and higher risk of death from the disease (HR=5.91, 95%CI 1.98–17.60) than the group with sufficient 25(OH)D levels.