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Full-Text Articles in Social and Behavioral Sciences
The Role Of Capital Formation And Saving In Promoting Economic Growth In Iran, R. Verma, E. Wilson, Mosayeb Pahlavani
The Role Of Capital Formation And Saving In Promoting Economic Growth In Iran, R. Verma, E. Wilson, Mosayeb Pahlavani
Faculty of Commerce - Papers (Archive)
This paper estimates the interdependencies between capital formation, saving and output for Iran. The analysis is complicated because of the conflicting theoretical and empirical findings of their relative roles in other studies, the lack of research on Iran whose turbulent history makes it difficult to disentangle the complex and changing interrelationships between output, saving and investment for the period of our study, 1960 to 2003. The analysis uses Lee and Strazicich (2004) procedure to endogenously determine that structural breaks occurred in 1979 for real output, 1983 for saving and 1977 for investment. These dates coincide with the effect of the …
Business Output And Business Experience: Evidence From China's Nongovernmental Businesses, Liangjun Su
Business Output And Business Experience: Evidence From China's Nongovernmental Businesses, Liangjun Su
Research Collection School Of Economics
We study the application of the Solow growth model in China's non-governmental businesses and propose a reasonable modification for it. Our analysis indicates that business experience is closely tied to the output of China's non-governmental businesses. Our major findings include: (1) the business experience has little overall impact on the elasticity of output with respect to labour; (2) the business experience has a large impact on the elasticity of output with respect to capital and the elasticity increases as the business experience increases; (3) the adjusted Solow residual that reflects technological progress exhibits a negative relationship with the business experience, …
Savings, Investment And Growth In India: An Application Of The Ardl Bounds Testing Approach, R. Verma
Savings, Investment And Growth In India: An Application Of The Ardl Bounds Testing Approach, R. Verma
Faculty of Commerce - Papers (Archive)
This paper considers savings, investment and economic growth for India using annual time series data for the period 1950/51 to 2003/04. The analysis uses Perron’s innovational outlier model to conduct unit root tests which endogenously determines a structural break. The empirical results show that the null hypothesis of unit root cannot be rejected for gross domestic product. Moreover, the results show that the most significant structural breaks over the last five decades correspond to the wars, regime change and the nationalisation of the banks. The study also utilises the Autoregressive Distributed Lag (ARDL) approach to test for cointegration. Whilst the …