Average Economic Growth Research Articles

Analysis of Economic Growth and Structural Changes and the Implication for Choice of Development Strategy: A Case Study of Pasaman Regency

The average economic growth rate of Pasaman Regency before the administrative division (1993-2002) was 5.8%, then after the division increased slightly to an average of 5.9%. This figure is far lower than the rate of growth of the New Autonomous Region of West Pasaman Regency (6.4 %). After the division, agricultural and mining sectors became more dominant in the economy of Pasaman making up 54.6% but the contribution of the manufacturing sector declined sharply from 10.3% to 4.6% as most of the existing Pasaman processing industry became part of West Pasaman. The comparative advantages of Pasaman Regency are mainly in the sectors: agriculture, forestry and freshwater fisheries. The district’s economic growth is mainly influenced by factors originating from outside the region as indicated by the relatively high regional-share component of 159%. While regional division has benefited West Pasaman, it has provided no significant benefit for the parent region which can still be categorized as underdeveloped. An analysis of the Klassen Typology Matrix indicates that policies and programs that are relevant for the development of disadvantaged areas should be directed at providing employment through the use of labor-intensive technologies. This development should focus on agriculture, forestry and freshwater fisheries producing products with a significantly extensive market.

Status of Living Standards in Nigeria between 2010 and 2013

ABSTRACTNigeria experienced a drop in the poverty rate to an average of 56.1% between 1999 and 2007. This could be attributed to the measures taken by the civilian government against administrative corruption, increased domestic and foreign investments and some implemented agricultural policies. These efforts were thwarted by subsequent administrations with devastating effects on the Nigerian population. Despite an average annual economic growth rate of 6% between 2004 and 2010, the incidence of poverty has remained high, increasing from 54.7% in 2004 to 60.9% in 2010. The high rate of poverty in Nigeria has reached alarming proportions. It is in recognition of this that this study analyzes the variations in poverty across the six geopolitical zones of Nigeria, including the rural and urban areas. To achieve this objective, the study analyzes poverty from a non-income approach using the living standards indicators: floor of the dwelling, cooking fuel, lighting, source of drinking water, type of sanitation facility and type of refuse disposal facility. The dataset used in this study is the General Household Survey (GHS-Panel) wave 1 (2010–2011) and wave 2 (2012–2013). The living standards indicators reveal, albeit geographically unevenly distributed, that the majority of Nigerians have low living standards in a number of key areas, across the six geopolitical zones and in both urban and rural areas. The results of the study thus show increases in poverty in most of Nigeria’s geopolitical zones and in both the rural and urban areas, despite the years of economic growth preceding the General Household Survey, indicating that growth has not been pro-poor in Nigeria.

Reducing Endowment Insurance Contribution Rate and Potential Economic Growth Rate

Facing the downward trend of economic growth year by year, in order to promote the sustained and stable development of China’s economy, and smoothly achieve two hundred-year goals, reducing the tax burden of enterprises, especially reducing the contribution rate of enterprise endowment insurance, has become an important policy grasp. On May 1, 2019, China reduced the contribution rate of enterprise endowment insurance to 16%. Under this background, will reducing the contribution rate of enterprise endowment insurance to 16% promote the real potential economic growth rate in the future, and to what extent can reducing the contribution rate of enterprise endowment insurance promote economic growth? Is it true that the lower the contribution rate of enterprise endowment insurance, the better the China’s future economic performance? These become the urgent question to be answered.In response to the above key scientific questions, by constructing a dynamic general equilibrium model and simulating with realistic and feasible parameters, it is found that although reducing the contribution rate of enterprise endowment insurance to 16% cannot change the downward trend of economic growth, it indeed increase China’s potential economic growth rate, especially in the short term. Taking into account the experience of OECD countries, further simulation shows that the above conclusions are still robust. Reducing the contribution rate of enterprise endowment insurance to 16% will increase the average economic growth rate by 0.912%, 0.132% and 0.211% between 2019-2021, 2022-2050 and 2019-2050, respectively. Meanwhile, it is not true that the lower the contribution rate of enterprise endowment insurance, the better the China’s future economic performance. There is an optimal contribution rate of 16.454%. If we reduce the contribution rate of enterprise endowment insurance, meanwhile increase the contribution rate of individual account endowment insurance, that is, from the pay-as-you-go system to the funding pension insurance system, we can not only reduce the negative impact of reducing the enterprise contribution rate on the future welfare of current working population, but also promote economic growth, especially in the long run.The contribution of this study lies in the timely and quantitative assessment of the impact of the reduction of enterprise endowment insurance contribution rate to 16% and further reduction of the contribution rate on the real potential economic growth rate in the future, which may provide a numerical basis and decision-making reference for the formulation of public policy. Compared with the previous research methods, in the model setting, a new mechanism that the impact of reducing the contribution rate of enterprise endowment insurance on economic growth is added by affecting human capital and labor productivity, this may provide an extensible theoretical framework for scholars to analyze the impact of reducing the contribution rate of enterprise endowment insurance on economic growth.

The Study of a Multicriteria Decision Making Model for Wave Power Plant Location Selection in Vietnam

With about a 7% average annual economic growth rate in Vietnam, the demand for electricity production is increasing, and, with more than 3000 km of coastline, the country has great potential for developing wave energy sources to meet such electricity production. This energy source, also known as renewable energy, comes from tides, wind, heat differences, flows, and waves. Both wind and wave energy are considered to have the most potential for energy sources in Vietnam. Just as hydropower projects are controversial due to depleting water resources and regulating floods, nuclear power projects cause safety concerns. To overcome this problem, Vietnamese scientists are considering using abundant wave energy resources for electricity. Nowadays, the ocean energy sector offers many new technologies to help minimize carbon dioxide emissions (CO2) in the living environment. Further, many countries already have wave power plants. In this research, an integrated model, combining the fuzzy analytical network process (FANP) and the technique for order of preference by similarity to ideal solution (TOPSIS), is proposed for wave energy plant location selection. As a result, Con Co (SITE3) is determined the best site for wave energy production. The primary aim of this study is to provide insight into site selection problems for renewable energy investments of Vietnam. The contribution of this research is to propose a fuzzy multiple-criteria decision-making (MCDM) model for site selection in the renewable energy sector. The proposed model also can address different complex problems in location selection; it is also a flexible design model for considering the evaluation criteria; further, it is applicable to site selection of other renewable energies in the world.

식민지시대 대만인과 조선인의 역외이주 패턴과 그 함의

My goal here is to contrast the different patterns of Taiwanese and Koreans’ migration and probe the historical causes. To achieve these ends, I will examine the scale of migration of Taiwanese and Koreans during the colonial period, and then characterize the patterns of two peoples’ migration by comparing job compositions of Taiwanese migrants with those of Korean migrants.BR Through a preliminary research of my own, I like to share my points of view as follows: Historians, especially economic historians have used a lot of estimated numbers[推計] for various purposes, and their approaches has helped a lot to solve some unexplained historical phenomenon. But at the same time, we can have more powerful evidences among real numbers which were not processed.BR For instance, average economic growth rate of colonial Korea is estimated at 2.30% per year and that of colonial Taiwan is estimated at 2.19% per year, but we cannot explain the causes of different migration types of the two colonies just with these numbers. I hope that the numbers I offered here to explain the different phenomenon of Taiwanese and Korean migration could be useful to understand economic phenomenon in colonial period more appropriately.BR Second, Many people have been interested in different attitudes toward Japan since 1945 of Taiwanese(pro-Japan) and Koreans(anti-Japan), and they have often said that the difference was mainly because the two societies experienced different historical paths since 1945. I agree only partially with them, because a society’s collective memory is partly “invented”, but it is also “inherited” from the past in a greater part, with the sources of the memory intact. Different attitudes toward colonial experiences might be the result of different colonial experiences on the whole.BR Finally, we have some general theories concerning colonial history, like theory of colonial modernization, dependency theory, etc. My research here revealed that existing grand theories cannot fully explain causes of different migration phenomenon of colonial Taiwan and Korea, I think. If my analysis here is agreeable, theory of colonial modernization should explain why colonial Korea witnessed huge scale, “subsistence type” migration unlike Taiwanese in spite of “modern and long-term economic growth” (if “modern economic growth” had occurred in colonial Korea according to the theory). And dependency theory should explain why absolute majority of Taiwanese continued to live in native places unlike Koreans in spite of “economic exploitation” and “underdevelopment” (if “economic exploitation” and “underdevelopment” had occurred in Taiwan according to the theory). For now, I don’t have some alternative analysis model, but at least we have to get out of obsessions with “structural uniformity,” and try to find a more convincing analysis model.

PERTUMBUHAN EKONOMI, DISPARITAS PENDAPATAN DAN KESEJAHTERAAN KABUPATEN/KOTA DI PROVINSI NUSA TENGGARA BARAT

This study aims to analyze economic growth, income disparity and community welfare in the West Nusa Tenggara Province. This research is a descriptive study using secondary data obtained from relevant agencies in the form of GRDP data, population, economic growth, HDI and per capita income between regencies / cities in NTB Province and data collection using the case method. With analytical procedures using Williamson index and panel data regression analysis. The results showed that during the period of 2010-2016 the average economic growth of West Nusa Tenggara Province was 6.0%. The income disparity seen from the Williamson index in the 2010-2016 period is classified as a medium inequality criterion. The estimation results of the relationship between the variables of economic growth, income disparity and the welfare of the people of West Nusa Tenggara Province measured using HDI in 2010-2016 using panel data regression analysis with the Fixed Effect model (FEM), found that economic growth variables were positively related, but not significant to welfare society. The variable income disparity is significantly related to the welfare of the people of NTB Province.

The Monetary and Fiscal History of Paraguay, 1960–2017

This chapter characterizes the monetary and fiscal history of Paraguay between 1960 and 2017. The analysis is divided into four periods, which are mainly distinguished by inflation levels, the source of financing of the public-sector deficit, and the central bank legal framework. The four main periods are 1962–1980, when inflation and the deficit were moderate; 1981–1990, a decade characterized by fiscal imbalances and nominal instability; 1991–2003, when the worst financial crisis in the country’s history took place and inflation levels remained moderate nonetheless; and finally, 2004–2017, the period of structural reforms and low inflation. We observe, throughout the periods, that monetary and fiscal policy have maintained a generally conservative stance, that periods of macroeconomic instability have been rare, and that average economic growth has been higher than the average for Latin America. However, despite its progress in terms of convergence, Paraguay remains among the countries with the lowest levels of income per capita in Latin America.

India's Modinomics and Korea's New Southern Policy

Since Narendra Modi took the prime minister's office in May 2014, India has grown into one of the fastest growing emerging markets with an annual average economic growth rate of over 7%. Under the vision of sustainable economic growth based on structural reforms and open policy, the Modi government focused on lifting restrictions on investment, building governance, expanding infrastructure, and strengthening international economic cooperation to achieve macroeconomic stability and stimulate investment. Thanks to the government's so-called Modinomics, India's economic growth rate has risen above China's, and the country has grown to become the sixth largest economy in the world as of 2017. This paper evaluates the progress of the core development policies of Modinomics - Make in India, reforms in tax (GST), labor and land acquisition, and the flagship urban development programs (Smart Cities) - and draws policy implications for Korea's New Southern Policy towards India.

Status of Living Standards in Nigeria between 2010 and 2013

The high rate of poverty in Nigeria has reached alarming proportions. Despite average economic growth rate of 6 percent between 2004 and 2010, the incidence of poverty has remained high, increasing from 54.7 percent in 2004 to 60.9 percent in 2010 (Nigerian Bureau of Statistics, 2010). A drop in the poverty rate to an average of 56.1 percent between 1999 and 2007 could be attributed to the measures taken by the civilian government against administrative corruption, increased domestic and foreign investments and some implemented agricultural policies. These efforts were thwarted by subsequent administrations with devastating effects for the Nigerian population. It is in recognition of this that this study analyses the variations in poverty across the six geopolitical zones of Nigeria including the rural and urban areas using the living standards approach. To achieve these objectives, the study analyses poverty from a non-income approach using the listed living standards indicators: floor of the dwelling, cooking fuel, lighting, source of drinking water, type of sanitation facility, type of refuse disposal facility. The dataset used in this study is the General Household Survey (GHS-Panel) wave 1 (2010-2011) and wave 2 (2012-2013). The results show increases in poverty in most zones including the rural and urban areas.

ANALISIS DAN PROYEKSI INDIKATOR EKONOMI MAKRO PROVINSI MALUKU TAHUN 2018 - 2022

This study aims to evaluate and forecast macroeconomic achievements for the next five years, covering four main macroeconomic indicators, namely economic growth, inflation, poverty and unemployment. The methodology used includes estimating the Autoregresive moving average (Arima) model, elasticity approach, central tendency, and landscape analysis. The results of the study concluded that: 1) Maluku's economy in the next five years is estimated to experience a slight increase with an average economic growth of 6.4 percent; 2) In line with the increase in economic activity inflation is also predicted to increase proportionally at an average of 3.1 percent for Ambon inflation, and 3.9 percent for Tual inflation; 3) Unemployment is predicted to decline with an average decline of 0.3 percent annually, while the poverty rate is also predicted to decline with an average decline of 0.6 percent per year. The implication of this finding is that optimistic expectations for Maluku's future economic outlook should be able to be responded to through more progressive, effective and efficient APBD policies, as well as increasing the synergy of valid and uniform data-based programs, both across sectors and across districts / cities.

Infrastruktur dan Output Perkapita Antar Provinsi di Indonesia

in 2010-2015, Indonesia's economic growth experienced a slowdown, the average economic growth of Indonesia during 2010-2015 was 5.65%. Indonesia's economic growth was influenced by various conditions that developed in the world economy such as declining world commodity prices, high inflation after the price hike of subsidized fuels, and the decline in bank credit due to tightening monetary policy. The purpose of this study is to determine the effect of infrastructure which includes roads, electricity, clean water and ports on per capita output. This study uses a static and dynamic panel data model in 33 provinces in Indonesia during the period 2010-2015. The results of this study indicate that road and port infrastructure has a positive and significant influence on per capita output, while electricity and clean water infrastructure have a positive but insignificant influence. In this regard, the government can take a policy of increasing and building road infrastructure and improving service performance in the form of port loading and unloading productivity.

The Emergence of Hysteresis Monetarism

Economists since 2008 have been unable to answer a fundamental question related to economic growth policies in the United States. The question is: Why have the aggressive post Global Financial Crisis monetary policies not been able to stimulate even average historical economic growth? This working paper provides an initial answer to this question using the Investment Savings (IS) and Liquidity of Money (LM) model. The explanation for the shifting IS and LM curves is associated with the emergence of Hysteresis Monetarism. The initial analyses completed to date indicate that breakdowns in key monetary policy transmission mechanisms have occurred. This is primarily due to changes in household savings and business capital expenditures as business aspects of the Global Age of Information emerged. The practices of the Federal Reserve for the past fifty years clearly delineates its failure to address these changes.

The Monetary and Fiscal History of Colombia: 1960-2017

In this paper we characterize the joint history of monetary and fiscal policies in Colombia since 1960. We divide our analysis into three periods, which are differentiated by the finance structure of the fiscal deficit, the institutional framework of monetary and fiscal policies, and the levels of inflation: 1960-1970, when both inflation and the fiscal deficit were low on average; 1971-1990, when both inflation and the fiscal deficit increased; and 1991-2017, when despite the highest average fiscal deficit and the worst recession of the century, inflation kept a downward trend in the context of a newly independent Central Bank and increasingly flexible exchange markets. The first two periods were characterized by fiscal dominance, with larger fiscal deficits leading to increased inflation in the context of a nonindependent monetary policy. After 1991, the Constitution enshrined monetary dominance via an independent Central Bank. We observe that although large fiscal deficits, macroeconomic swings and monetary imbalances were rare in Colombia, average economic growth was comparable to other Latin American countries that experienced higher macroeconomic volatility.

BUILDING A MODERN AFRICAN HAIRDRESSING FACTORY

Development is about bringing well-being to the people. And this well-being is related to the ac-quirement of basic needs including: basic food, education, health care, proper vocational training and especially employment which are a great necessity for the poorest of the world in Africa who unfor-tunately lack it. Therefore, these poor people of Africa are practicing di˙erent type of jobs in order to survive: Hairdressing is one of those jobs that are deeply rooted in the African culture which in contrary are truly neglected over there, especially by parents who does not give any consideration to this type of activity. The idea is that Hairdressing like other vocational professions are what remain to do while one fail to accomplish the so called “proper education”. All parents wish their kids to become Medical Doctor, Engineer, and Lawyer/Solicitor/Barrister or Judge. . . Teacher. However, the hairdressing sector has become over the time an interesting business sector in some organized economy around the world, where it counts for billions of US dollars. As poverty is increasingly progressing in Africa, though the continent is registering an average economic growth of 7% per year, Hairdressing is one of those economic sectors that should be supported in order to be well managed and developed throughout the continent. Hence, jobs will be created and people can feed themselves and their family and become autonomous. Therefore, as Information and communication technology, ICT become tools to be used to tackle poverty issues, the concept of People.net that stand for the transfer of knowledges or constructive information either throughout sound culturally integrated highly usable mobile and/or web ICT platform among people either rural or urban from any background should be considered in order to help the poor people of Africa to sustainably boost their various job activities. Thus, reduce ignorance and reinforce personal and collective development. Applied to the Hairdressing category of activity, knowledge could be exchanged, more clients will be acquired, turnover will rise up, appoint-ments will be well scheduled. . . online training could be ran and catalogues could also be showed o˙ and consulted either by clients/customers or peers

Dampak dana perimbangan terhadap pertumbuhan ekonomi dan ketimpangan antar daerah di Provinsi Jambi

This study aims to analyze: 1) the development of balancing funds, economic growth and inequality between regions in Jambi Province; 2) the impact of balancing funds on economic growth and inequality between regions in Jambi Province. The analysis was carried out descriptively and quantitatively using regression analysis. The results of the analysis found that: 1) the average balance fund obtained by Jambi Province during 2001-2013 was Rp. 3,854,250,067, with a tendency to increase every year. The average economic growth of Jambi Province during 2001-2013 was 6.64% per year. Furthermore, the average level of inequality between regions is 0.38, which is categorized as being; 2) The balancing funds in fact have had a good impact and can trigger economic growth in Jambi Province. However, balance funds also have a negative impact on increasing inequality between regions

Analisis penanaman modal dalam negeri dan penanaman modal asing dan pengaruhnya terhadap pertumbuhan ekonomi Provinsi Jambi

This study aims to analyze: 1) the development of domestic investment, foreign investment, and the economic growth rate of Jambi Province; 2) the influence of domestic investment and foreign investment on the economic growth of Jambi Province. The data used are secondary data from Jambi Province for the period of 2000 - 2015. Data is sourced from the Central Bureau of Statistics of Jambi Province. Data were analyzed descriptively and used multiple linear regression methods. The results of the study found that (1) the average growth of domestic investment in Jambi Province was 11.67 percent per year and foreign investment was 64.32 percent per year. During the analysis period, the average economic growth was 5.45 percent per year; (2) simultaneously and partially, domestic investment and foreign investment have a significant effect on economic growth in the economic growth of Jambi Province.

INNOVATION AND ECONOMIC GROWTH: A CASE OF INDIA

PURPOSEInnovation is often seen as one of a driving force for a sustainable long-term economic growth of any country. Indian economy is one of the fastest growing economies in this modern globalization world. Indian economy is enjoying the average economic growth of 7% from last two decades but is this economic growth sustainable or only some short-term phenomena because of increasing consumer market and increasing information sector. To achieve long-term sustainable growth Innovation is very important. The purpose of this paper is to discover the role of innovation in the economic growth of India.METHODOLOGYThis paper defines innovation that includes both production of innovative goods and services, and the innovative process of producing goods and services. World Bank’s data bank is the primary source of this study. Time series data has been used to study the variables. In this study to understand the economic growth, GDP growth Rate, GDP per capita growth Rate, and for Innovation R&D Expenditure, Education Spending rate, and Patent applications variables have been used.FINDINGSAccording to the result as Indian economy will grow economic it will decrease the R&D Exp, it will decrease the education spending, it will decrease the FDI, and it will also decrease the no of patent applications filed in India. This negative correlation raises the questions to the policy maker. These questions also open the door of future research in this field. SOCIAL/ PHYSICAL IMPLICATIONS OF STUDYThis study can provide some insights to the policy makers that can be helpful for the society in terms of efficient use of our resources.ORIGINALITY OF STUDYThis study is an original research

Evaluation of the adequacy of government minimum wage valorization policy in the Czech Republic in 2017 in the European context

Research background: The government of the Czech Republic has agreed to an increase in the minimum monthly wage as of the beginning of 2017 to 11,000 CZK, which represents a year-over-year increase of over 11 %. The government is thus fulfilling its objective set out in February 2014 and stipulated in the Government Statement of Purpose, i.e. to approximate the minimum wage to 40 % of average wages.Purpose of the article: The purpose of the article is to assess the adequacy of the Government Minimum Wage Valorization Policy, in particular from two points of view. Firstly, in view of selected macroeconomic indicators in the Czech Republic ? the development of consumer prices, average gross wages, economic growth and workforce productivity. Secondly, in comparison with other EU member states which have introduced the institution of a minimum wage.Methods: In order to assess the adequacy of government policy to improve the social protection of the rights of the working population, a background research was conducted into the literature of important studies on the effects of minimum wages on unemployment, while the development of average gross wages in the CR, the minimum monthly wages in the CR and the Kaitz index were also analyzed. Furthermore, an evaluation of selected macroeconomic indicators in the Czech Republic was performed by means of time lines and the percentage representation of employees in the individual gross wage bands according to sex and type of economic activity. Last, but not least, a comparison was made of minimum wages, real gross domestic product per capita and workforce productivity in Euros and in purchasing power standards between the Czech Republic and countries which have enacted the institution of minimum wages.Findings and Value added: The minimum wage in the Czech Republic is the fifth lowest in the EU. In the long term, it is earned by approximately 3% of employees, which is less than the rate common in other EU countries. Currently, the amount of the minimum wage is below the threshold of income poverty. In comparison with the GDP per capita in PPS and real labour productivity per person employed in other EU countries, the position of the Czech Republic is significantly better, although other EU countries offer higher minimum wages. The decision of the current government to significantly increase the minimum wage as of 2017 is correct.

Study of the Potential Sharing of the Electricity Subsidy by Regional Government

The electricity sector has a very important role as a source of energy that is vital for everyday life, industrial activities and other commercial activities. To keep electricity prices remain affordable to the public, government allocated electricity subsidy in the APBN. Unfortunately, every year electricity subsidy is more swollen. Therefore needs to consider funding the electricity subsidy sharing mechanism with regional governments. To support these mechanisms, necessary to study and trying to see the readiness level of funding in regional government and the division of authority. By using the methodology of mapping analysis, it can be concluded that the judicial authority of the electricity sector although it has been submitted to the region, but still the absolute authority of the Central Government. Based on the Regional Fiscal Capacity analysis, Jakarta Province, East Kalimantan Province, Papua Province of West and North Borneo are areas that deserve to be a top priority. By using the analysis of the development of regional economic growth from 2008 to 2012, the recommended area is the province of West Papua with an average economic growth, approximately 23.28% compared to Jakarta by 7.75% and by 5.08% in East Kalimantan.

Endless Accumulation, Limits to Growth, and the Tendency for the Rate of Profit to Fall

This article proposes a simple new model that helps to analyze the long-term movement of the profit rate. The article applies the new model to the United States and China, the world's two largest economies, to illustrate how the new model may help analyze the global capitalist crisis in the 21st century. In the new model, the long-term movement of the profit rate depends on the long-term average economic growth rate and the ratio of accumulation. As the capitalist economy stagnates and ecological sustainability imposes constraints on future economic growth, capitalism may have exhausted its historical capacity to check the tendency for the rate of profit to fall.