Macroeconomics Commons^™

Digitalization And Economies Of Oic Countries, Mohsin Ali, Urooj Anwar, Mudeer Ahmed Khattak, Muhammad Umar Islam

Bulletin of Monetary Economics and Banking

This paper studies the impact of digitalization on the Organization of Islamic countries (OIC) economies. The study is conducted to see whether digitalization is playing its role in enhancing economic growth. We employ a panel dataset consisting of twenty-one years from 2000 to 2020 for 57 OIC countries. We use the system generalized method of moments (GMM) estimator. The results indicate that digitalization positively impacts the economies of OIC countries. As for policy implication, this study recommends governments of OIC member countries to invest in digital infrastructure in order to foster economic growth.

How Global Value Chains Affect Economic Output And Unemployment: An Empirical Evidence From Asean Countries, Sri Juli Asdiyanti Samuda

Bulletin of Monetary Economics and Banking

This paper examines the effects of Global Value Chains on economic output and unemployment in ten ASEAN countries from 1999 to 2018. This study provides estimation using the system GMM and panel causality test to determine the effect of GVC thoroughly. The results indicate a positive and significant effect of global value chains on economic output in ASEAN countries. However, the findings also show that global value chains increase unemployment during the observation period. Heterogenous panel non-causality findings suggest that economic output does not affect the level of participation of GVC, but unemployment affects the level of participation in ten …

Energy And Economic Growth Nexus: A Long-Run Relationship In Indonesia, Kelvan Darrian, Patricia Scholastica, Yohanes B. Kadarusman, Dandy Rafitrandi

Economics and Finance in Indonesia

Energy plays an important role in economic growth in which it affects total factor productivity (TFP). Energy conservation efforts to address global climate change may adversely affect economic growth, particularly in the long run. This study analyses the short- and long-run relationship between energy consumption (both non-renewable (NREC) and renewable (REC)) and economic growth in Indonesia within the period of 1985 to 2019. Using the vector-error correction model (VECM), the paper discovered a short-run unidirectional causality from NREC and REC to economic growth. Economic growth in Indonesia is dependent on energy consumption. The finding proves the growth hypothesis in the …

Income Inequality And Economic Growth: An Analysis, Nicholas Martin

Economics Undergraduate Honors Theses

Income inequality and its relationship with economic growth has been a subject of debate in academia for decades. This paper examines the relationship the Gini index of five selected countries and four macroeconomic variables (GDP growth, unemployment rate, lending interest rate, and savings rate) for each country with two developed nations being represented (United States and Italy) and three developing nations being represented (Peru, Belarus, and Indonesia). After reviewing the literature on the relationship between income inequality and economic growth, a multivariate regression analysis of each country is presented; first with GDP growth as the dependent variable, followed by a …

Information, Communication, And Technology In Developing Countries: The Impediment To Nigeria Economic Growth, Fatima Ali Muhammed

Dissertations and Theses

Technological revolution has shifted the world to a post-industrial society as information communication and technology (ICT) govern the centrality of human interaction. ICT has become widely influential at all levels of life, especially socially and economically.

In the 21st century, innovative technologies have become a crucial element of accelerating all factors of production to deliver rapid and effective results in every sector of the economy. The Internet, as a component of ICT, has become the global computing network that facilitates the access, analysis and dissemination of infinite information rapidly using advanced technology.

Policy makers, researchers, business leaders, academics are all …

Economic Growth And Co2 Emission In Asean: Panel-Ardl Approach, Feriansyah Feriansyah, Hari Nugroho, Aura Asyda Larre, Qori’Atul Septiavin, Cintya Khairun Nisa

Economics and Finance in Indonesia

This paper investigates the relationship between economic growth and CO2 emissions from 1994 to 2018 using a panel approach from eight ASEAN countries. We found an established result using the Panel ARDL Pooled Mean Group method. First, the panel Cointegration analysis shows a significant long-term relationship between GDP and CO2 emissions. Second, the error correction mechanism shows a stable and consistent value. Third, we found that GDP has a significant long-term effect on CO2 emissions in ASEAN countries. Fourth, our results also show that GDP significantly impacts CO2 emissions in the short term for four countries: Indonesia, Malaysia, Thailand, and …

Simultaneous Relationship Between Financial Inclusion, Economic Growth, And Income Inequality In Sulawesi Island, 2011-2019, Adella Siti Nursaliyawati, Siskarossa Ika Oktora

Economics and Finance in Indonesia

Sulawesi Island has fairly high economic growth but is not followed by a significant decrease in income inequality. Therefore, a new strategy is needed to overcome these problems, one of them by increasing the role of the financial sector through financial inclusion. This study aims to analyze the relationship between financial inclusion, economic growth, and income inequality, as well as the factors influencing them in Sulawesi Island from 2011 to 2019. The analytical method used is the simultaneous equation model with panel data using the EC2SLS model. The results show that there is a simultaneous relationship between financial inclusion and …

Crime, Crisis And Economic Growth: An Investigation Of Socio-Economic Determinants Of Crimes In The Indian States, Ankita Thapa

Masters Theses

This paper investigates the impact of socio-economic conditions on five major crime heads from 2001-2019 using a panel data set for the Indian states. The paper focus on the great recession of 2008-09, economic growth of the states, and deterrence variables. The paper employed two estimation procedures: panel Fixed-Effect and two-stage least square-fixed effect (2SLS-FE). The 2SLS-FE is preferred over the fixed effect method, where poverty is treated as an endogenous variable with higher education and social sector expenditure as instrumental variables. A dummy variable is used for the period of the great recession. A square of state GDP per …

The Impact Of The Capital Market, The Insurance Sector And The Mortgage Finance Sector On Economic Growth In Egypt, 2005-2019, Hana Anis

Theses and Dissertations

This thesis aims to explore the relationship between financial markets and economic growth in Egypt for the 15 years period, starting from 2005 to 2019. The study concentrates on the non-banking financial sector which includes the stock market, the debt market, the mortgage and the insurance sectors. The Vector Autoregressive (VAR) model is utilized to describe the relationship between GDP growth rate, as a proxy for economic growth, and a number of variables from the financial sector. Results of the analysis show that there is a significant relationship and statistical causality between the growth rate and the debt market, represented …

The Effects Of Imf's Lending And Conditionalities On Economic Growth: Case Of Sadc Countries, Lutete Celina Carlos

Masters Theses

I examine the impact of IMF credit use and its conditions on economic growth performance in 12 South African countries over a period of 1999-2019. The work adopts an empirical and quantitative approach to analyzing the relationship between the GDP per Capita, the use of IMF Credit, Government Final Consumption Expenditure, Net Domestic Credit and Current Account balance. These variables are the most recommended in the IMF conditionalities during the lending arrangements with SADC members. The study uses Fixed-effect approach to evaluate how the use of IMF program and the conditions imposed directly affects economic growth. A dummy variable is …

Impact Of Monetary Policy On Inflation Rate In Nigeria: Vector Autoregressive Analysis, Eggon Ahmed Henry, Ajidani Moses Sabo

Bullion

The Nigerian monetary authorities have implemented several monetary management policies with the aim of achieving price stability and economic growth in the country, but without success. This study was conducted to examine the impact of monetary policy management on inflation in Nigeria during the 1985- 2019. Autoregressive distributed lag analysis was employed on time series data covering the period. It was found that while monetary policy rate and foreign exchange rate impacted negatively on inflation; broad money supply impact positively on it. Therefore, the study recommended that monetary authorities should fix the exchange rate at where the value of Naira …

Impact Of Tax Revenue On Economic Growth In Nigeria (1981-2017), Abubakar Biliksu Aliyu, A. A. Mustapha

Bullion

The main objective of this research is to assess empirically the impact of tax revenue on economic growth in Nigeria, spanning from 1981 to 2017. It employs, time series data obtained from the CBN statistical bulletins, FIRS annual publications and National Bureau of Statistics (NBS) portal. To achieve the objectives of the study, OLS and ARDL techniques were employed to estimate the relationships and the dynamics and longrun effects of independent variables on dependent variable. ARDL bound test revealed that the variables are cointegrated while ARDL long-run estimation indicated that petroleum profit, value added tax and government domestic debt are …

Efficiency Gain Argument Of Fiscal Federalism And Economic Growth: Evidence From Five Selected Developing Federal Economies, Hyacinth E. Ichoku, Walter O. Ugwuoke

Bullion

This paper investigated efficiency gain argument of fiscal federalism and economic growth with evidence from five selected developing federal economies. The curiosity is to ascertain whether the efficiency gain –the fundamental argument why countries adopt fiscal federalism is justified in these economies. The paper uses stochastic frontier model to achieve this objective. The evidence from the selected developing federal economies revealed diverging results. While in Nigeria, Ethiopia and India there is more expenditure decentralization than revenue decentralization suggesting that efficiency gains from fiscal federalism may remain elusive, in Brazil and South Africa there is more revenue decentralization than expenditure decentralization …

Exchange Rate Regimes And Economic Growth, Amandarae Matthew

Undergraduate Theses

This paper explores the relationship between economic growth and exchange rate regimes among countries of lower income, lower middle income, upper middle income, and high-income countries. Countries must make careful consideration when choosing an exchange rate regime because each regime can have different long-term effects. A cross section pooled time series data will be used for a sample of 42 countries over the period of 2000-2018. Multiple models will examine the various relationships between types of exchange rate regimes, changes in exchange rate regimes, and economic growth. The components of the models being tested include political stability, change in terms …

Pension Fund, Financial Development And Output Growth In Nigeria, Iwegbu Onyebuchi

Bullion

This study examines the indirect effect of pension fund on economic growth in Nigeria through the financial system. Using Autoregressive Distributive Lag (ARDL) model, the study found out that pension fund contribution is effective in stimulating growth through investment in portfolios that yield short term returns; this implies that pension fund contribution cannot on its own without a credible financial system impact on economic growth. The policy implication of this study is for Pension Fund Administrators (PFAs) to invest in portfolios with short-term returns; thus, a large chunk of funds invested in federal government securities should be unbundled to other …

Does A Change In Immigration Affect The Unemployment Rate In Host Countries? Evidence From Australia, Mostafa Aboelsoud, Anas Alqudah, Eman Elish

Economics

is study examines and evaluates the dynamic causality relationship between immigration, unemployment, wages and GDP per capita in host countries with a focus on Australia. Previous research has indicated that the economic impact of immigration is significant; nonetheless, its effect on the labour market being positive or negative is inconclusive. This study uses a Vector Error Correction Model (VECM) to examine the dynamic short- and long-run nexus between these variables in Australia over the period 1980–2016. The paper provides clear evidence to policymakers on the positive spillover effect of immigration policies developed by the Australian government.

Essays On Institutions And Development, Andrew Jonelis

Theses and Dissertations--Economics

The essays in this dissertation examine how political institutions affect economic development. In the first essay, I examine how executive control of the legislature shapes the time horizon of governing politicians and its effect on economic growth. The second essay examines how border changes over the past two centuries have provided different areas within modern countries with different institutional histories and how this affects the geographic concentration of economic activity. For the final essay, I examine whether elections have an effect on macroeconomic volatility when controlling for the democratic nature of the regime.

Foreign Capital Inflows And Economic Well-Being: A Statistical Analysis Of 46 Sub-Saharan African Countries From 1995-2015, Alexander M. Csanadi

Undergraduate Economic Review

Variation in the economic well-being among sub-Saharan African countries is among the highest of any region in the world. This paper attempts to address this disparity by exploring the role of foreign capital inflows. This project extends the concept of well-being beyond GDP growth, to include measures of poverty and inequality. A multivariate regression analysis finds that the observed capital inflows have significant effects on all three measurements of well-being. Findings suggest that the level of affluence of the domestic population has significant effects on the ability of those populations to translate diaspora remittances into improvements in well-being.

Implications Of Macroeconomic Controls In Ghana, Wisdom Takumah

Electronic Theses and Dissertations

Ghana’s desire to achieve sustainable economic growth with relatively stable price level pursue both monetary and fiscal policies that could lead to macroeconomic. This study examines the effects of fiscal and monetary policy on economic growth and determine the level of convergence of growth for Ghana using structural equation modeling (SEM) using time series data from 2008 to 2017. Both short run and long-run results revealed that the ratio of government spending to private investment was statistically significant and it exerted a positive impact on economic growth, an indication that government expenditure is a key channel through which we can …

Identification Of Key Productive Sectors In The Mexican Economy, Isaac Sánchez-Juárez, David Revilla, Adelaido García-Andrés

Isaac Sánchez-Juárez

This article focuses on identifying what are the key sectors with high potential for drag induced investment in the Mexican economy, also characterizes the sectors according to their hierarchy, impact and degree of articulation. To achieve this the input-output matrix national 2003 was used (disaggregated into 20 sectors and 79 sub-sectors), provided by the official government agency responsible for generating statistical information, which applied the traditional method of calculation of multipliers which takes into account both relations hierarchical such as circular between the productive sectors of Rasmussen (1956). The originality of the work lies in the application of the social …

Interest Rate Elasticity Of Private Sector Credit In Nigeria, A. Bamidele, K. O. Oji, E. S. Smith, L. S. Jimoh

Economic and Financial Review

This study estimated the interest rate elasticity of private sector credit in Nigeria using the Vector Error Correction mechanism. The variables specified included real private sector credit. real GDP. Prime and maximum lending rates, exchange rate, 9)-day Treasury bill rate, inflation rate and all share index of the Nigerian Stock Exchange. The data utilised covered the period: 1998 Q1 to 2013 Q4. Granger causality tests were performed, and the co-integration analysis of the Johansen system-wide procedure was employed. The results indicated thot private sector credit was fairly interest inelastic in terms of both maximum and prime lending rates. The estimated …

Flooding In The Kashmir Valley: Macroeconomic Effects Of A Natural Disaster In India, Danielle Cupp

Gettysburg Economic Review

This paper presents India’s economic growth by comparing it to that of the United States. In addition, this paper analyzes current events in India under a macroeconomic lens as it provides the macroeconomic impacts of said events. More specifically, this paper focuses on the ways in which unexpected severe flooding have impacted Northern India in the short-, medium-, and long-run. Analyses conclude with policy recommendations based on the goals of India’s central bank, the Reserve Bank of India (RBI).

Foreign Capital Flows And Economic Growth In Pakistan: An Empirical Analysis, Sharafat Ali

Sharafat Ali

Pakistan economy has received large inflows of foreign capital, in shape of foreign debt, FDI and worker’s remittances, over the years. The present study is focused on the examination of effects of these flows on economic growth in Pakistan. Johansen cointegration technique and Granger causality test has been used for the analysis for the sample period of 1972-2013. The results reveal negative impacts of these flows on economic growth of the economy in long run. Short run analysis confirmed unidirectional causality running from debt service, FDI, inflation and literacy rate to growth. Causality from domestic investment is not concluded but …

Macroeconomic Effects And Microeconomic Determinants Of Fertility, Maria R. Apostolova-Mihaylova

Theses and Dissertations--Economics

This dissertation focuses on the relationship between the education-based fertility gap and economic growth and on policy as a determinant of fertility.

In the first essay I evaluate the impact of differential fertility (the difference between fertility rates of women with high educational attainment and women with low educational attainment) on economic growth by accounting for critical marginal effects and the general level of educational attainment in a given country. I also examine the possibility that this effect varies based on level of inequality and income levels. I find that for a less developed country with high income inequality, higher …

Essays On Capital Controls And Exchange Rate Regimes, Yu You

Theses and Dissertations--Economics

This dissertation consists of three essays on capital controls and exchange rate regimes. The first essay, under the background of international monetary policy trilemma, empirically investigates the validity of the proposition that holding the degree of exchange rate stability constant, a decrease in capital mobility through imposition of capital controls will enhance monetary independence. Using a panel dataset covering 88 countries for the 1995-2010 period and system GMM estimation, this paper finds that 1) capital controls help improve a country’s monetary independence; 2) the effectiveness of capital controls depends on the types of assets and the direction of flows they …

An Empirical Estimate Of The Optimal Level Of Fiscal Deficit In Guinea, Emmanuel A. Onwioduokit

Economic and Financial Review

Excessive deficits, irrespective of the mode of financing, are assumed to be growth retarding. The conventional wisdom is that high budget deficit is a source of economic instability. Empirical research, however, does not conclusively support this conventional wisdom; results are mixed and controversial across countries . These conflicting results have raised the important question of heterogeneity and also underscored the usefulness of time series data for country specific studies in order to address heterogeneity. This paper sought to ascertain the relationship between fiscal deficits and economic growth in Guinea and to find the threshold level of fiscal, deficit that is …

Three Essays Concerning The Relationship Between Exports, Macroeconomic Policy, And Economic Growth, Brandon James Sheridan

Theses and Dissertations--Economics

This dissertation consists of three essays that collectively investigate the relationship between exports, macroeconomic policy and economic growth. The first essay investigates the relationship between disaggregated exports and growthto address why many developing countries rely on primary goods as their main source of export income when evidence suggests they could earn higher returns by exporting manufactured goods.Using regression tree analysis, I find that although increasing manufacturing exports is important for sustained economic growth, this relationship only holds once a threshold level of development is reached. The results imply that a country needs a minimum level of education before it is …

Tax Reform DisCourse, Anthony C. Infanti

Articles

Our tax system is supposed to serve the public good by fairly raising the revenue that we need to fund public expenditures — for example, the common defense, social safety net programs such as Social Security and Medicare, etc. But the tax reform debate has shifted away from discussing how best to distribute the burden of these common expenditures and instead has come to focus on how tax reform can be used to spur economic growth. Especially in times of economic crisis, these two goals — equitably funding public expenditures and spurring economic growth — sound equally important and somehow …

Exploring The Nexus Between Trade, Visitor Arrivals, Remittances And Income In The Pacific: A Study Of Vanuatu, Ronald R. Kumar, Vijay Naidu, Radika Kumar

Dr Ronald R Kumar

Trade, Aid, Remittances And Financial Development: The Case Of Pakistan, Ronald Kumar

Dr Ronald R Kumar