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Full-Text Articles in Public Economics
The Roaring Twenties After Covid-19: Revisiting The Evidence For Europe, Alessio Terzi
The Roaring Twenties After Covid-19: Revisiting The Evidence For Europe, Alessio Terzi
Journal of New Finance
Inspired by conspicuous historical parallels, some scholars and journalists have recently postulated that GDP growth and productivity might boom in the aftermath of the Covid-19 pandemic. This paper reviews the evidence for and against the ‘Roaring 20s’ hypothesis, concluding that some countries might experience a forceful economic expansion, possibly fuelled by pent-up demand, compounding a successful digital and green transition, or leveraging an export-led model. However, a strong prolonged economic bonanza is unlikely to materialise evenly across the EU. An uneven recovery would acquiesce imbalances within the Union, and especially the euro area. As such, policymakers should avoid complacency, and …
Export Promotion As A Development Strategy: Evidence From Selected Southeast Asian Countries And Lessons For Ghana, Ohenewaa B. Newman
Export Promotion As A Development Strategy: Evidence From Selected Southeast Asian Countries And Lessons For Ghana, Ohenewaa B. Newman
Journal for the Advancement of Developing Economies
Developing countries have adopted various development strategies such as import substitution industrialization (ISI) and export promotion strategies. For Latin-American and developing countries, some level of economic growth was experienced using ISI after the Second World War. However, these countries could not attain the needed economic growth, technological advancement or guarantee food security with the adoption of ISI. It led to unequal income distribution, less internal competition, and distortions of their economy, among others. The rise of export promotion strategies in the 1970s was evidenced by an impressive economic growth and a decline in poverty in jurisdictions like Taiwan, Tanzania and …
Educational Expenditure And Economic Growth Nexus In Nigeria (1987-2016), Abiodun O. Ayeni, Osagie F. Omobude
Educational Expenditure And Economic Growth Nexus In Nigeria (1987-2016), Abiodun O. Ayeni, Osagie F. Omobude
Journal for the Advancement of Developing Economies
This study empirically investigated educational expenditure and economic growth nexus in Nigeria using secondary and times series data from 1987 to 2016, sourced from the Central Bank of Nigeria (CBN), National Bureau of Statistics (NBS) and other agencies and sources. Relevant statistical tools were employed in exploring the relationships between these variables. The random characteristics of the variables were tested using the Augmented Dickey Fuller (ADF) technique. The links among educational expenditure, education sectoral output and economic growth were tested via the Autoregressive Distributed Lag (ARDL) and bound test approach developed by Pesaran and Shin. Four research hypotheses were tested. …
Exploring The Budget Deficit-Economic Growth Nexus: New Evidence From Ghana, Kojo Oppong Nkrumah, Emmanuel Orkoh, Augustine Mensah Owusu
Exploring The Budget Deficit-Economic Growth Nexus: New Evidence From Ghana, Kojo Oppong Nkrumah, Emmanuel Orkoh, Augustine Mensah Owusu
Journal for the Advancement of Developing Economies
In this paper, we combine Autoregressive Distributed Lag (ARDL) approach with trend analysis to assess the relationship between Ghana’s budget deficit and economic growth from 2000 to 2015 using quarterly data. The trend analysis reveals that since 2000, years of high budget deficit were usually followed by years of low economic growth and vice versa. This phenomenon was pronounced in 2009, when the Gross Domestic Product (GDP) growth rate fell from 7.3 percent in 2008 to 4 percent in 2009, following an increase in the budget deficit from 8 percent in 2007 to 11.5 percent in 2008. The same phenomenon …
Determinants Of Non-Oil Export And Economic Growth In Nigeria: An Application Of The Bound Test Approach, Samson Adeniyi Aladejare, Abdulwahab Saidi
Determinants Of Non-Oil Export And Economic Growth In Nigeria: An Application Of The Bound Test Approach, Samson Adeniyi Aladejare, Abdulwahab Saidi
Journal for the Advancement of Developing Economies
The effects of the recent global economic crises on Nigeria’s economy have reaffirmed the urgent need for economic diversification in the country. Although no country is immune to such global crises, the over reliance on oil export revenue by Nigeria expose her economy excessively to external shocks. Therefore, this research examines the impact of aggregate non-oil sector and its determinant on economic growth. The bound test approach was explored to examine the long and short run effects of the non-oil export and its ensuing determinants. The result reveals a significant effect of non-oil export on economic growth in both the …
China’S Local Government Debt And Economic Growth, Jia Qi Zhou
China’S Local Government Debt And Economic Growth, Jia Qi Zhou
Gettysburg Economic Review
This paper explores the impact of China’s local government debt on economic growth. This analysis, based on a panel of 31 provinces over 14 years, takes into account a broad range of economic growth determinants as well as various estimation issues including heteroskedascity and omitted variable. The empirical results suggest an inverse relationship between China’s local government debt and economic growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.27 percentage points per year.
The Governance Of China’S Finance, Katharina Pistor
The Governance Of China’S Finance, Katharina Pistor
Faculty Scholarship
This chapter examines the governance of China's financial system, which, it shows, cannot be adequately explained using conventional paradigms that rely on ownership and legal or regulatory controls alone. Instead, China's governance regime relies heavily on human resource management, which uses control rights over the career path of top-level financial cadres. A commentary is included at the end of the chapter.
Intra-Provincial Inequalities And Economic Growth In China, Joanna Gravier-Rymaszewska, Joanna Tyrowicz, Jacek Kochanowicz
Intra-Provincial Inequalities And Economic Growth In China, Joanna Gravier-Rymaszewska, Joanna Tyrowicz, Jacek Kochanowicz
Joanna Tyrowicz
This paper approaches the problem of inequalities in China. It is specifically focused on analyzing the effects of intra-provincial disparities on the development of the 28 mainland provinces in China. Intra-provincial inequalities, as measured by Theil index, seem positively related to growth, albeit the results are only convincing for the coastal provinces. A case by case analysis, however, suggests highly diversified patterns, including linear or an inverted u-shape for fastest growing coastal provinces and virtually no relationship for the majority of regions. The results corroborate some earlier raised questions about actual policy-making standards in China.
Why Economic Performance Has Differed Between Brazil And China? A Comparative Analysis Of Brazilian And Chinese Macroeconomic Policy, Fernando Ferrari-Filho, Anthony Petros Spanakos
Why Economic Performance Has Differed Between Brazil And China? A Comparative Analysis Of Brazilian And Chinese Macroeconomic Policy, Fernando Ferrari-Filho, Anthony Petros Spanakos
Department of Political Science and Law Faculty Scholarship and Creative Works
This paper addresses a specific question: why has China grown so rapidly and Brazil not? To answer this question, it (i) establishes the basis for comparison between China and Brazil by contextualizing these countries within the BRICs concept, and (ii) presents a comparative analysis of Brazilian and Chinese reforms focusing only on the issue of macroeconomic policy, especially the monetary and exchange rate regimes, and its effect on growth.