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Does Health Capital Have Differential Effects On Economic Growth?, Arusha V. Cooray
Does Health Capital Have Differential Effects On Economic Growth?, Arusha V. Cooray
Faculty of Commerce - Papers (Archive)
Investigating the impact of health capital disaggregated by gender on economic growth in a sample of 210 countries over the 1990-2008 period, this study suggests that the influence of health capital across countries cannot be generalised. Results for the full sample indicate that health capital does not have a robust and significant effect on economic growth unless through their interactions with health expenditure and education. The results disaggregated by income group reveal that health capital has a positive robust influence on economic growth in high and upper middle income economies. In low and low middle income economies, health capital gains …
Stock Market And Gdp Growth Volatility Spillovers, Indika Karunanayake, Abbas Valadkhani, Martin O'Brien
Stock Market And Gdp Growth Volatility Spillovers, Indika Karunanayake, Abbas Valadkhani, Martin O'Brien
Faculty of Commerce - Papers (Archive)
This paper examines the interplay between stock market returns and GDP growth rates in four Anglo-Saxon economies located in three separate continents (namely, the US, the UK, Canada and Australia). We analyse the dynamics of cross-country volatility transmission across these countries by using quarterly data from 1959 to 2010 and a multivariate GARCH model. Country specific cross-mean spillovers from GDP growth to stock market returns exist only from the US growth towards its stock market, while country specific cross-mean spillovers from stock market returns towards GDP growth exist in both the US and Australia. The US economy influences all three …
The Impact Of Migrant Remittances On Economic Growth: Evidence From South Asia, Arusha V. Cooray
The Impact Of Migrant Remittances On Economic Growth: Evidence From South Asia, Arusha V. Cooray
Faculty of Commerce - Papers (Archive)
Incorporating migrant remittances among other variables into a growth model, and employing panel data over the 1970-2008 period, this study investigates the impact of migrant remittances on economic growth in South Asia. Migrant remittances are found to have a significant positive effect on economic growth. A significant positive interactive effect of remittances on economic growth is detected through education and financial sector development.
Cross Country Co-Movements Of Gdp Growth Rates: Are They Systematic?, Abbas Valadkhani, Charles Harvie
Cross Country Co-Movements Of Gdp Growth Rates: Are They Systematic?, Abbas Valadkhani, Charles Harvie
Faculty of Commerce - Papers (Archive)
Using factor analysis this paper examines discernable patterns of real GDP growth comovementsacross 97 countries, using consistent time series data for the period 1961-2008.Of these countries only 21 are found to form three statistically significant groupings, wheremembership count exceeds more than two. Ten major OECD European countries plus Japanand Hong Kong form the first well-defined common bloc of countries (G12). The second bloc,consisting of six major Asian countries (G6), have GDP growth rates that exhibit a very highdegree of correlation, based on their robust factor loadings. The last group of countiescollectively witnessed a very substantial degree of cross-country growth co-movementsconstituted …
Government Expenditure, Governance And Economic Growth, Arusha V. Cooray
Government Expenditure, Governance And Economic Growth, Arusha V. Cooray
Faculty of Commerce - Papers (Archive)
This study investigates the role of the government in economic growth by extending the neoclassical production function to incorporate two dimensions of the government - the size and the quality dimensions. The government size- and quality-augmented model, where size is measured by government expenditure and quality by governance, is tested on a cross section of 71 economies. Estimation is also carried out on the sample by income distribution. The empirical results indicate that both the size and quality of the government are important for economic growth. It is argued that investing in the capacity for enhanced governance is a priority …
The Role Of Education In Economic Growth, Arusha V. Cooray
The Role Of Education In Economic Growth, Arusha V. Cooray
Faculty of Commerce - Papers (Archive)
This study examines the effect of the quantity and quality of education on economic growth. Using a number of proxy variables for the quantity and quality of education in a cross section of low and medium income countries, this study finds that education quantity when measured by enrolment ratios, unambiguously influences economic growth. The effect of government expenditure on economic growth is largely indirect through its impact on improved education quality.
Household, Private And Public Savings And Investment, Foreign Capital Inflows And Gdp Growth In India With Structural Breaks 1950-2005, Reetu Verma
Faculty of Commerce - Papers (Archive)
The objective of this paper is to examine the short and the long-run interrelationshipsbetween sectoral savings and investment, foreign capital inflows and their roles in thegrowth process for India for the period 1950 to 2005. This paper uses theAutoregressive Distributed Lag (ARDL) procedure to test for both the long-run andshort-run effects between the eight variables, along with any endogenously detectedstructural breaks. This is in response to shortcomings relating to previous studies whichpredominantly analyse savings and investment aggregates only, over long time periodswhich contain structural changes, using bivariate estimation techniques, which areshort-run in nature. The analysis firstly tests for the short-run …
Financing Growth: New Issues By Australian Firms, 1920-1939, David Merrett, Simon Ville
Financing Growth: New Issues By Australian Firms, 1920-1939, David Merrett, Simon Ville
Faculty of Commerce - Papers (Archive)
An expanding economy, new technologies, and changing consumer preferences provided growth opportunities for firms in interwar Australia. This period saw an increase in the number of large-scale firms in mining, manufacturing, and a wide range of service industries. Firms unable to rely solely on retained earnings to fund expansion turned to the domestic stock exchanges. A new data set of capital raisings constructed from reports of prospectuses published in the financial press forms the basis for the conclusion that many firms used substantial injections of equity finance to augment internally generated sources of funds. That they were able to do …
The Financial Sector And Economic Growth, Arusha V. Cooray
The Financial Sector And Economic Growth, Arusha V. Cooray
Faculty of Commerce - Papers (Archive)
The Mankiw-Romer-Weil (1992) augmented Solow-Swan (Solow 1956; Swan 1956) model is extended to incorporate the financial sector in this study. Distinguishing between financial capital, physical capital and human capital, the research attempts to identify, in particular, the effects of financial capital on economic growth. The effects of financial sector efficiency on economic growth are also examined. The financial sector augmented model is tested on a cross-section of 35 economies. Strong support is found for the model.
Impact Of Fluctuations In Oil Prices On Libyan Economic Growth, Abdusalam Yahia, Mokhtar M. Metwally
Impact Of Fluctuations In Oil Prices On Libyan Economic Growth, Abdusalam Yahia, Mokhtar M. Metwally
Faculty of Commerce - Papers (Archive)
This paper examines the impact of fluctuations in Libyan oil exports on Libyan economic growth. The paper uses "export as an engine of growth model". Such a model is applied to total output as well as sectoral outputs. However, this study uses a Koyck distributed lag scheme. The paper also uses cointegration analysis to examine the long-term trade relationship between Libyan GDP and its oil exports. The results suggest that are spread effects from oil exports to the rest of the economy. However, when both the component and inflationary effects are excluded (but not the real gain from the rise …
The Conundrum Of Economic Miracle: Manufacturing Growth Without Tfp Growth, Chia-Hung Sun
The Conundrum Of Economic Miracle: Manufacturing Growth Without Tfp Growth, Chia-Hung Sun
Faculty of Commerce - Papers (Archive)
The findings of low or even negative total factor productivity (TFP) growth in Singapore's manufacturing industries by Young (1995) and many others has been a controversial issue in view of its crucial role in the future sustainability of Singaporean manufacturing. This paper applies the varying coefficients frontier model to re-examine productivity growth in Singapore's manufacturing at the 3-digit industry level over the period 1970–1997. The results indicate that Singapore's manufacturing has on average experienced a –0.8 percent TFP growth per annum although the extent of TFP growth improved slightly in the 1990s. The decomposition of TFP growth into technical efficiency …
The Impact Of Large Firms In Promoting Economic Growth, Exports, And Regional Integration: A Chandlerian Perspective, Elias Sanidas
The Impact Of Large Firms In Promoting Economic Growth, Exports, And Regional Integration: A Chandlerian Perspective, Elias Sanidas
Faculty of Commerce - Papers (Archive)
Chandler's work is well known. He has amply demonstrated that large firms played a huge role in the economic take-off and development of countries such as Germany and especially the USA. In this paper his thesis is extended to the whole world, by considering various countries, economically itegrated regions, their exports and economic achievement. The largest firms in the world are examined in this context. Chandler's thesis is thus confirmed wth this analysis and some quantitative evidence is provided in that respect. In addition, integration seems to take place even without the existence of formal agreements due to the presence …
Sources Of Economic Growth In Iran: A Cointegration Analysis In The Presence Of Structural Breaks, Mosayeb Pahlavani
Sources Of Economic Growth In Iran: A Cointegration Analysis In The Presence Of Structural Breaks, Mosayeb Pahlavani
Faculty of Commerce - Papers (Archive)
This paper examines the major determinants of GDP growth in Iran using annual time series data spanning form 1960 to 2003.
Introduction: The Role Of Small And Medium-Sized Enterprises In Achieving And Sustaining Growth And Performance, Charles Harvie, Boon-Chye Lee
Introduction: The Role Of Small And Medium-Sized Enterprises In Achieving And Sustaining Growth And Performance, Charles Harvie, Boon-Chye Lee
Faculty of Commerce - Papers (Archive)
This volume is the third in a series on small and medium sized enterprises in East Asia, defined broadly to include the countries along the western rim of the Pacific from Japan and China in the north to Australia and New Zealand in the south, taking in the ASEAN countries along the way.
On The Evolution Of Firm Organization, Smes And Economic Growth In The Usa And Japan, Elias Sanidas
On The Evolution Of Firm Organization, Smes And Economic Growth In The Usa And Japan, Elias Sanidas
Faculty of Commerce - Papers (Archive)
The evolution of the organization of firms throughout history has only recently been extensively analysed. This evolution, especially in countries like the USA and Japan, i is important to know and understand for many reasons, and in particular for its contribution to economic growth.
Gender Discrimination And Growth In Major Economies In Asia, Van Hoa Tran
Gender Discrimination And Growth In Major Economies In Asia, Van Hoa Tran
Faculty of Commerce - Papers (Archive)
Economic growth, its determination and distribution have been the main objectives of normative and positive market economics over the years.
Modelling The Impact Of China's Wto Membership On Its Investment And Growth: A New Flexible Keynesian Approach, Van Hoa Tran
Modelling The Impact Of China's Wto Membership On Its Investment And Growth: A New Flexible Keynesian Approach, Van Hoa Tran
Faculty of Commerce - Papers (Archive)
The standard theories of economics, international finance, transnational corporations, and within the accouting framework of the United Nations System of National Accounts (SNA93) or earlier stipulate that investment plays a crucial role in influencing microenconomic activity, national ouput growth and economic development.
Impact Of Economic Policy Reform And Regional And Global Shocks On Trade And Growth In East Asia: Econometric Evidence For China, Van Hoa Tran
Faculty of Commerce - Papers (Archive)
The paper introduces the generalised gravity theory (Tran Van Hoa 2004) to construct a simply flexible simultaneous-equation econometric model of growth and trade of China and its five major trading countries or blocs (Japan, ASEAN-6, the European Union, the US, and Austrralia).
Asean+3 And Rtas And Their Impact On Asia-Australia Trade And Growth: Econometric Evidence From An Extended Gravity Theory, Van Hoa Tran
Asean+3 And Rtas And Their Impact On Asia-Australia Trade And Growth: Econometric Evidence From An Extended Gravity Theory, Van Hoa Tran
Faculty of Commerce - Papers (Archive)
No abstract provided.
Innovation Heterogeneity And Schumpeterian Growth Models, Eduardo Pol, P. Carroll
Innovation Heterogeneity And Schumpeterian Growth Models, Eduardo Pol, P. Carroll
Faculty of Commerce - Papers (Archive)
Innovation heterogeneity refers to two empirical facts: economic sectors vary according to sources and rates of innovation, and innovations vary in terms of the magnitude of their economic impact. The central focus of this paper is the problem of scale effects in the Schumpeterian growth models. Although these models make endogenous the production of innovations, they assume not only an oversimplified pattern of sectoral innovation but also that major innovations are virtually indistinguishable from minor innovations. The main claim of the a er is that without a theoretical framework revolving around both the existence of realistic sectoral patterns of innovation …
Savings, Investment, Foreign Inflows And Economic Growth Of The Indian Economy 1950-2002, Reetu Verma, Edgar J. Wilson
Savings, Investment, Foreign Inflows And Economic Growth Of The Indian Economy 1950-2002, Reetu Verma, Edgar J. Wilson
Faculty of Commerce - Papers (Archive)
There is a large research literature on the roles of domestic savings and investment in promoting long run economic growth. This paper attempts to identiy the major interdependencies between savings, investment, foreign capital flows and real output for India since independence. An endogenous growth model of an open economy, with government, is adapted to specify the complicated theoretical interrelationships between sectors of a growing economy. The time series of real household, private corporate and public savings; private and public investment; foreign capital inflows and GDP are tested for stationary under structural change. Empirical estimation of the possible long run and …
Paths Of Corporate Development: Directions And Methods Of Growth, Simon Ville
Paths Of Corporate Development: Directions And Methods Of Growth, Simon Ville
Faculty of Commerce - Papers (Archive)
In Scale and Scope Chandler explained the typical directions of growth followed by large scale American corporations who sustained their industry leadership. I This involved phases of horizontal and vertical integration to capture economies of scale and throughput, followed by product diversification in response to new scientific research, and internationalization to exploit their competitive advantages in foreign markets. This has not been a universal experience of all countries; successful British firms, for example, have been less vertically integrated and Japanese firms were for long reluctant to expand overseas. Typical methods of growth - internal expansion, mergers, and interfirm ventures - …
Causality Between Exports And Economic Growth: The Empirical Evidence From Shanghai, Jordan Shan, Gary Gang Tian
Causality Between Exports And Economic Growth: The Empirical Evidence From Shanghai, Jordan Shan, Gary Gang Tian
Faculty of Commerce - Papers (Archive)
The export-led growth hypothesis is tested using monthly time series data for Shanghai (one of the major exporting provinces in China) using the Granger no-causality procedure developed by Toda and Yamamoto (1995) in a vector autoregresion (VAR) model. This paper builds on the existing literature in three distinct ways. This is the first study of the export-led growth hypothesis which employs a regional dataset (Shanghai). Second, the paper follows Riezman et al. (1996) in controlling for the growth of imports to avoid a spurious causality result; and finally, the use of the methodology by Toda and Yamamoto is expected to …