Exploring The Nexus Between Trade, Visitor Arrivals, Remittances And Income In The Pacific: A Study Of Vanuatu, Ronald R. Kumar, Vijay Naidu, Radika Kumar
Nov 2011
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
We explore the contributions of trade openness, remittance inflows and expansion in tourism towards improving income in Vanuatu over the periods 1983-2009 using the augmented Solow approach and the ARDL bounds test. The results show trade openness and remittances have a positive and statistically significant effect on the long run growth of the economy while tourism expansion is not statistically significant. For a broad-based development policy we propose: remittance inflows need to be encouraged and additional remittance markets to be explored; trade negotiations with specific focus on temporary movement of natural persons need to be prioritized; and ensuring access to …
Trade, Aid, Remittances And Financial Development: The Case Of Pakistan, Ronald Kumar
Nov 2011
Trade, Aid, Remittances And Financial Development: The Case Of Pakistan, Ronald Kumar
Dr Ronald R Kumar
In this paper, we explore the role of trade openness, overseas development aid (ODA), remittance inflows and financial development vis-à-vis income in Pakistan for the periods 1980-2010 using the bounds procedure within the augmented Solow-model approach. In the long-run, trade openness, ODA, and remittances have a significant positive effect on the income level, while financial development is not statistically significant. In the short run, ODA has contributed positively towards income growth while remittances, trade openness and financial development have lagged negative effects, thus underscoring somewhat different behaviour of aid and remittance inflows. Accordingly, for development policy discourse, we emphasise the …
Correlates Of Economic Growth In Developing Countries: A Panel Cointegration Approach, Lonnie K. Stevans, James P. Neelankavil, Francisco L. Roman
Jan 2011
Correlates Of Economic Growth In Developing Countries: A Panel Cointegration Approach, Lonnie K. Stevans, James P. Neelankavil, Francisco L. Roman
Lonnie K. Stevans
The inflow of foreign direct investment (FDI) has been found to play a crucial role in the economic growth of receiving countries. Using panel cointegration techniques, this perception was found to be mitigated by an empirical approach that yields different results from previous studies. While the growth in real FDI has an influence on real GDP growth across developing countries in the short-run, year-to-year periods, it does not explain real GDP in the long-run. Rather, it appears to be the economic factors internal to a country that have the most influence on real GDP over time: human capital (measured by …
Exploring Sectoral Contributions To Growth In Fiji: A Focus On Agriculture Development, Ronald R. Kumar
Dec 2010
Exploring Sectoral Contributions To Growth In Fiji: A Focus On Agriculture Development, Ronald R. Kumar
Dr Ronald R Kumar
In this study, we explore the contribution from agriculture, manufacturing and services to the economic growth of Fiji. The results show in the long-run, services sector has the largest contribution (0.91 percent), followed by manufacturing (0.88 percent) and agriculture (0.22 percent). In the short run, mixed contribution from manufacturing and services due to short-run shocks and negative contribution from agriculture due to poor performances of key agricultural activities raises concern for long term economic sustainability. Therefore, key sub-sector integrated policies and reforms to improve and capitalise on agriculture, manufacturing and services are put forward as pro-growth measures for sustainable development …
