High Economic Growth Research Articles

A Socio-Economic-Political Dimension of Employment in Sub-Saharan Africa

The paper adopts a broader perspective in studying the determinants of employment. The main objective of the study is to assess the impact of social and political variables on employment levels after accounting for macroeconomic factors. In addition, the paper adopts a gendered dimension to the labour market, as relatively more women tend to be unemployed or have vulnerable jobs in the informal sector. The Fully Modified Ordinary Least Squares is applied to analyse the drivers of employment. Data for Sub-Saharan Africa is collected from 1991 to 2016. The findings indicate that higher economic growth; more access to finance and education, low corruption as well as political stability positively affect employment. There is thus evidence to extend existing employment analysis and policy making beyond economic factors to embrace social and political constraints.

Modeling financial liberalization and economic growth in Liberia: A dynamic analysis

The impact of financial reforms and financial development on an economy has received considerable attention over the recent past. According to McKinnon and Shaw, financial liberalization policy and, in particular, interest rate deregulation is a means for achieving high economic growth by boosting savings and investments. This paper aims to investigate the long‐run relationship between financial liberalization and economic growth in Liberian as articulated by McKinnon and Shaw's theory. The study employed time series data spanning from 1980 to 2016 and dataset was sourced from World Development Indicators databases. The dataset was estimated using econometric techniques of Combined Co‐integration test, Dynamic Ordinary Least Squares, and robustness check of Fully Modified Ordinary Squares, and Canonical Co‐integration Regression, respectively. Results reveal, positive and significant coefficient of financial liberalization variables, thus supporting the McKinnon and Shaw hypotheses. Also, found long‐run Combined Co‐integration among the estimated models. Policy recommendation includes that policymakers should refrain from policy that will adversely affect deposit interest rates considering its immense impact on savings mobilization, gross investment, and economic growth. Furthermore, improving competition will compel deposit‐taking institutions to raise deposit interest rates in a bid to attract more depositors, thus reducing interest rates spread.

Social Policy and State–Community Relationships: Storm over Forest Rights in India

Abstract Social Policy is concerned with minimising poverty and inequality through redistribution of goods and services. In the twentieth century, after the Second World War, European parliamentary democracies enlarged its ambit by making social policy an important instrument to create equality setting the benchmark for other countries. For the new independent countries in the global South, such as India, social policy followed different trajectories. In the aftermath of independence, India relied on preventive instruments to address the effects of famine, de-industrialisation and high levels of deprivation. Despite achieving high economic growth and rapid poverty reduction in the following decades, its dependence on targeted poverty reduction programme has remained. Recently, there has been some attempt to replace these strategies by rights-based programmes supported by legal framework advocated by civil society groups. Through a case study of The Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006 (referred to as FRA 2006), this article analyses the successes and failures in realising the goal of linking welfare provisions with the ideas of social citizenship and democratic rights. The article finds widening gulf in the interests of state actors and local community arising from the compromised interpretation of the social justice vision enshrined in FRA.

PHYSICAL CAPITAL, HUMAN CAPITAL, AND THE HEALTH EFFECTS OF POLLUTION IN AN OLG MODEL

In a standard overlapping generations model, we show how the health effects of pollution impact the balanced-growth path (BGP) and the transition dynamics of the economy. The key driver is the differential between physical and human capital accumulation. The differential occurs because pollution alters the incentives to save and to invest in education via reductions in longevity and alters the effectiveness of education expenditures via impaired cognitive learning. Two predictions of the model are noteworthy. The first prediction is the existence of two stable BGPs with a separating saddle path. One BGP is desirable featuring high economic growth and low pollution, whereas the other should be avoided because it is associated with low economic growth and high pollution. The second prediction is that economic and environmental cycles may emerge, implying inequality between generations. These theoretical results are supported by empirical evidence and imply a role for government to steer the economy toward the desirable BGP and eliminate the cycles.

Applying environmental Kuznets curve framework to assess the nexus of industry, globalization, and CO2 emission

Malaysia has continued to increase the explosive growth rate of its industries in recent years. The rise of globalization has driven Malaysia’s economic development at the ecosystem level of pollution. This research study explores the relationship of CO 2 emissions, gross domestic product, globalization, industrialization, and trade openness for Malaysia by using annual data for 1971–2016. By applying the ARDL bound testing approach, the estimates infer that CO 2 emissions have steadily risen with high economic growth and affirm the U-shaped environmental Kuznets curve (EKC). Globalization’ index and trade openness surge Malaysian CO 2 emissions. While industrialization has a statistically significant negative impact on CO 2 emissions. The VECM Granger causality infers the unidirectional causality running from economic growth, globalization, industrialization, and trade openness to CO 2 emission in the short-run Finally, this study provides some suggestions to Malaysian policymakers for devising carbon emission reduction strategies. • Relationship of CO 2 emissions, gross domestic product, globalization, industrialization, and trade openness for Malaysia. • ARDL bounds testing approach and VECM. • Suggestions to Malaysian policymakers for devising carbon emission reduction strategies.

Study of Population Growth Impact on Economic Growth during (2003-2017) in Afghanistan

Achieving high economic growth is one of the significant purposes, which all countries seek to achieve, and achieving it requires a realistic analysis of country’s economy and a better understanding of the principles and rules of economic growth. Meanwhile, demographic changes over time, as one of the most important issues impacting different parts of societies gaining special importance so that demographic changes can be tangible in investment, saving, and overly in economic growth. The relationship between population growth and economic development has been analyzed theoretically and empirically over time by different economists. Some economists believe which fast population growth prevents economic growth; while others believe, that population growth leads to economic growth due to increased demand, level of production and national income. The aim of this study was to investigate impact of population growth on economic growth during (2003-2017) in Afghanistan. In this study, it has been used the data which provided by World Development Index (WDI) Central statistics, books, journals, scientific and research journals and other related articles. For measuring the GDP growth and simple model squares estimation method from programs such as Excel, Eviews and Pass have been used indeed. Economic growth as a dependent variable, population growth, unemployment average, and foreign direct investment as an explanatory (independent) have been implemented.
 The outcomes showcase that population growth has a positive effect on economic growth (1%) increase in population growth which causes economic development in order to increase 2.4%. On the other hand, according to obtained results from model summary; gained determination is 0.921. It means the dependent variable of economic growth is elaborated almost 92% by independent variables of population growth, unemployment, and foreign direct investment. This demonstrates strong population growth impact on economic growth and its correlation intensity is almost 1.

An Empirical Study of Factors Influencing Consumers’ Purchasing Behaviours in Shopping Malls

Since a couple of years ago, the development of shopping malls is booming in the Klang Valley-Kuala Lumpur area in Malaysia. Motivating consumers for frequent visits to shopping complexes is imperative in order to run a successful shopping mall in such a competitive retail environment like the Klang Valley-Kuala Lumpur with over 100 shopping plazas. Getting knowledge of the elements attracting consumers to visit a shopping mall and make purchases is of greatest importance in order to achieve high profit return and increase economic growth and development of a nation. The objective of this research paper is to study the factors influencing the consumers’ buying behaviours in the shopping malls. The environmental related factors (building structure, atmosphere, sounds and music and fragrance and smell), services related factors (personal services, price, advertising and promotion), administrative related factors (tenant mix, anchor tenant, entertainments) as well as transportation and location related factors (parking, location, accessibility) were identified as independent variables and consumer’s buying behaviour within the malls as a dependent variable. A research framework was developed based on a thorough literature review. There were 200 responses collected from consumers in four shopping malls in Klang Valley-Kuala Lumpur area. Correlation and multiple regression analyses were carried out using the SPSS software package to obtain the results.
 
 The results of this research indicate that environmental, transportation and location related factors have significant impact on consumers’ buying behaviours in the shopping malls. The results congruent with previous studies by Brengman et al. (2012) and Grimmer et al. (2016) that indicated that environmental related factors have positive effects on consumers’ purchase behaviours. Additionally, this study also found that transportation and location related factors have significant relationship with consumers’ purchase behaviours as mentioned by Saber et al. (2017) and Samiran et al. (2015). The findings can be adopted by the shopping malls’ managers to improve overall shopping malls’ performance as well as by mall developers to evaluate the mall site’s location and construction designs. For academicians, this study could be used as a ground work for further exploration of the possibilities to influence consumers’ purchase behaviours through different marketing strategies to increase sales and profits.

Is There Convergence Between BRICS Listed Property Stocks and International REITs?

The BRICS market represents high-growth economies. This study empirically examines the long-run equilibrium as well as the short-run linkages between BRICS listed property stocks and REIT markets in developed countries (the United States, Australia, and the United Kingdom). We employ fractional cointegration techniques between the BRICS listed property markets and the three most developed REIT markets. We test the hypothesis of fractional integration, and our results show no evidence of cointegration between BRICS listed property markets and the REIT markets of any of the developed economies in the long run. Our results indicate only that the BRICS securitized property market is influenced by the developed economies in the short run. The implication of this study are that a portfolio of developed REIT markets are diversifiable when added into a portfolio of BRICS securitized property markets. This is particularly significant for investors and fund analysts in other to reduce portfolio risks.

The Causality between Urbanization, Industrialization and Co2 Emissions in Nigeria: Evidence from Toda and Yamamoto Approach

The main objective of this paper is to inspects the causal relationship between urbanization, industrialization and CO2 emissions in Nigeria using the technique of Modified Toda and Yamamoto causality for the period spanning 1982 -2018. The long run causality result indicates that there is bidirectional causality running from economic growth to CO2 emissions and from industrialization to economic growth. This suggests that higher economic growth is linked with CO2 emissions and the growth of industries is related with higher economic growth. Again, unidirectional causality also exists running from urbanization to economic growth, urbanization to CO2 emissions, urbanization to industrialization. Based on these findings, it is therefore recommended that Nigerian government should strategies comprehensive environmental policy in the coming years that would make the environmental rules and regulations more severe to dodge any inconveniences that is associated with urbanization and industrialization in the near future for the purpose of maintaining the quality of the environment.

Basra: the influence of territories, rich for crude oil, on the development of Iraqi governorates

Introduction. The article presents the results of the analysis of changes in the planning structure of an urbanized area, addresses land use for crude oil recovery purposes in the Basra governorate, and explores the influence, produced by this activity on urban development and the environment using the city of Basra as an example. Crude oil recovery reduces the size of natural areas. The practical aspect of the scientific research entails the development of an information system designated for land management and the maintenance of databases focused on the study of urban planning tasks to ensure well-balanced development of areas, rich for crude oil in the Basra governorate with regard for a structured regional planning pattern as one of the most important objectives of Iraq. Growing residential areas, on the one hand, and expanding areas occupied by oil recovery and industrial enterprises, on the other hand, have been a relevant post-war problem since 2003. The environmental disorder, caused by substantial changes in land use, involves various disruptions, which translate into grave problems of the urban environment experienced by the governorate of Basra.
 Materials and methods. Official data, submitted by the Basra administration, tables, documents and cartographic materials were used to perform this research, let alone the open source information, including maps that contain statistical calculations made using the ArcGIS10.x software package and Microsoft Excel. The co-authors also performed a retrospective analysis of the Basra territory using remote sensing, which allowed them to determine the boundaries of the city and to track its spatial transformation.
 Results. The retrospective analysis has identified changes in the city borders. High economic growth, boosted by oil production and developing industrial territories, drives the need for well-balanced territories focused on sustainable development, especially in the historical part of Basra which is suffering from degradation.
 Conclusions. The problem of unbalanced use of urbanized territories and environmental sustainability of cities, affected by wars and military operations, requires the development of regulations governing the delimitation of borders within the framework of a land-use plan to be developed.

Analysis of myanmar’s macroeconomic development

In recent years, the total GDP of myanmar has been increasing year by year. The year of 2018, the CPI growth rate reached 6.9%, although, the GDP growth rate of myanmar has increased to 6.8%, High economic growth and high inflation coexist. Myanmar’s unemployment rate is at a low level, stable at less than 2 percent. The import and export trade is in deficit. The net inflow of FDI is at a relatively stable low level. But there has been a big increase since 2010.In terms of international balance of payments, since 2012, with a large influx of foreign investment into myanmar’s infrastructure and other industries, the import demand for machinery and equipment has expanded significantly, and myanmar’s current account deficit has significantly expanded.

The influence of green finance on economic growth: A COVID-19 pandemic effects on Vietnam Economy

Environmental protection and high economic growth are the global requirement and have attracted the special attention of researchers and policymakers. Thus, the current study is also going to examine the impact of green finance that includes green investment and green loan on the economic growth of Vietnam. The data have been obtained from the central bank of Vietnam and World Bank Indicators (WDI) from 1986 to 2019. This study also executed the Autoregressive Distributed Lag (ARDL) approach to examine the links among the variables. The results exposed that green finance along with all control variables have a positive association with economic growth. These outcomes have guided regulators to increase their focus on green finance that could increase the economic growth in the country.

The effect of financial development and remittances on economic growth

The purpose of this study is to examine the effect of financial development and remittances on economic growth across six Western Balkan countries (WBC) using panel data from 2000 to 2017. Previous studies have neglected the effect of financial development and remittances on economic growth with regard to WBC. Based on system GMM analysis, we found that financial development (broad money stock ratio) and remittances shows positive impact on economic growth across WBC. However, the interaction of financial development and remittances provide a significant and negative effect on economic growth. The results imply that remittances together with financial development substitutes the economic growth of WBC. In order to expand the financial system in the WBC, policies targeted to develop the non-deposit financial institutions and using the narrow interest rate margin policy to encourage investment and thus high economic growth.

Innovations in achieving sustainable economic performance under income inequality

The negative effect of income inequality on economic growth represents a topic that constitutes a broad topic of research in the standard economic theory. One of the immediate consequences of income inequality is diminished consumption. Many «poor» customers cannot provide sufficient demand for the producers, causing overproduction that might lead to an economic crisis. It constitutes a problem because sustainable economic performance needs to be achieved under the conditions of income inequality. Reducing social and economic inequality in countries is an essential step towards ensuring that no one is left behind. It is also part of the 10th Sustainable Development Goal aimed to reduce it by 2030. Inequality is based on the income distribution between the top 1% and the bottom 99% of households in any given country. The degree of inequality could play a beneficial role if it is driven by market forces and is associated with incentives to increase growth. In developing and emerging countries, greater equality and improvements in living standards are needed to enable populations to flourish. Inequality reduction is one of the most critical steps a government could take to improve the well-being of its population. The income inequality growth increases human capital in poor countries and reduces it in high and middle-income countries. In poorer countries, it increases them, but in higher – and middle-income countries, it reduces them. Income inequality could be reduced by improving human capital and general skill levels, correcting labor-market policies, and making better use of financial services. In turn, sustainable economic growth could reverse the negative effects of inequality, reducing the need for high-wage and higher-earning households. Thus, it provides higher economic growth. This paper discusses three ways to circumvent the impact of decreasing consumption on economic growth adopted in developing economies over the last fifty years, such as increasing exports, providing loans for consumption, and printing new money. The findings showed that none of these methods seem to be sustainable in the long run. Thus novel and innovative mechanisms that would allow our economy to reduce inequality are necessary and need to be put into place.

Ekonomski rast i kvalitet institucija u Jugoistočnoj Evropi

The paper researched the causal relationship between institutional quality measures and real gross domestic product growth (GDP) on the South East European (SEE) countries in the period 1996-2016. To achieve the aim of this research the panel techniques (the Dumitrescu-Hurlin noncausality approach) were used. The SEE suffers from very poor control of corruption, as well as significant political instability, the weak rule of law and poor government effectiveness. Our results indicate that there is unidirectional homogeneous causality between political stability and real GDP growth. Control of corruption leads to government effectiveness. The rule of law leads to control of corruption, and government effectiveness to political stability. Additionally, there is a bidirectional homogeneous causality between the rule of law and political stability. Thus, the research found some empirical evidence that stronger institutional measures cause higher economic growth.

Agriculture and regional economic growth in Indonesia

The Republic of Indonesia consists of 34 provinces in 514 districts with diverse economic characteristics. The objective of this research is to analyze the association between agriculture sector and regional economic growth in Indonesia. The data source was from the Indonesia Database for Policy and Economic Research (INDO-DAPOER) of the World Bank. The study covered the period between 2001 and 2008. The province total gross domestic product (GDP) excluding oil and gas was used as the outcome variable. The covariates were grouped into agricultural and development variables. The agricultural variables were total agricultural credit, number of people employed in agriculture, forestry and fishery, and agriculture function expenditure. Meanwhile, the development variables were percentage of household with access to safe water and literacy rate for population age 15 and over. The data analysis method was the generalized least square multiple regression with random effects. The results of the study indicate that the Indonesia’s province GDP increased every year. In addition, higher economic growth was associated with higher total agriculture credit, larger number of people employed in agriculture, forestry and fishery, higher agricultural function expenditure, higher percentage of household with access to safe water, and higher literacy rate for population age 15 and over.

Ecological changes during crisis period

The article examines the change of the level of air pollution in world’s countries (ecological changes). We verified two hypotheses. It can be caused by an increase in the level of development of countries accompanied by a change in the level of air pollution and the countries with different rates of economic growth may observe different rates of air pollution reduction in the post-crisis period. To test the hypotheses, hierarchical agglomerative and iterative methods of cluster analysis, and econometric models were used. The annual percentage growth rate of the GDP per capita and percentage of population exposed to ambient concentrations of PM2.5 for 101 countries for 2008-2017 were considered as the research information base. The results showed both significant positive and negative effects of increasing level of economic development and air pollution of the countries with a time lag in one-two year. In addition, the results of an econometric analysis show that there are different dynamics of air pollution level for countries with high, medium and low economic growth rates. The results can be of value for the formation and adaptation of the environmental strategies.

Analysis on the Contribution of Agricultural Sector on the Economic Development of Ghana

The study empirically examines the impact of agricultural sector on the economic GDP growth of Ghana, using time series data from 1984 to 2018. The cointegration test results showed the non-existence of long-run relationships existing between the overall GDP and agricultural output. In its set-up, the error correction method estimates the long-run relationship between economic growth and agricultural output as well as fluctuation in the short-run. Based on the basic regression model, agricultural output exhibits a significantly positive impact on the overall GDP growth of the country. Similarly, the industrial and service sector also contributed positively to overall GDP growth. The results indicate the need to promote value added agricultural export expansion policies to achieve high economic GDP growth.

The Dusty Night of Ulaanbaatar: 2021 East Asia Sandstorm, Trans-Regional Impact, Ecological Imperatives in Mongolia

Mongolia, a nomadic and picturesque inland country, has battled with ongoing desertification, recurring droughts, and increasingly frequent sandstorms in recent years. Between mid-March to mid-April 2021, the country encountered violent gusts of wind, the Mongolia cyclone, and the largest sandstorms in a decade, causing nationwide damages and trans-regional impact in East Asia including northern China, Japan, and most parts of South Korea. A multitude of factors have contributed to the current ecological crisis in Mongolia. Since 1992, the country has transformed to a market economy with high economic growth driven by its mineral and agricultural exports. Overgrazing along with intensified human activities such as coal mining contributed to its widespread land degradation, while climate change has become a major driving factor for its recurring droughts. Annual mean air temperature in Mongolia increased by 2.24°C between 1940–2015, while annual precipitation decreased by 7% concurrently, resulting in a higher aridity across the country. A positive feedback loop between soil moisture deficits and surface warming led to a hotter and drier climate in the region, with over a quarter of lakes greater than 1.0-km2 in the Mongolian Plateau dried up between 1987–2010. Increased temperatures, decreased precipitation coupled with land degradation have resulted in a persisting drying trend, with more than three-quarters of land in Mongolia being affected by drought and desertification. The 2021 East Asia sandstorms drew international attention to ecological issues that have culminated for decades in Mongolia. Collaborative efforts from policy makers, residents and scientists from its local and the global research community are urgently needed to address the grand and rapidly aggravating ecological challenges in Mongolia.

The space-time compression of Tokyo street drinking

ABSTRACT In postwar Japan vast black market districts surrounded urban commuter train stations with warrens of small-scale retail, food and alcohol vendors. Most were bulldozed during the period of high economic growth and replaced with modern shopping centers. Only a few of these dense, lively pedestrian alleyways survived into the 21st century, including the one called “Willow Alley” described in this paper. Recently there has been a widespread revival of these vintage yokochō. Still as spaces for drinking and eating, the forced intimacy in these cramped interstitial spaces fosters sociability and association among strangers, but with changes in recent years. One trend is the opening up of windowless doors and walls and the use of the alleyway itself as a space of eating and drinking. Another is their transformation from semi-private male-oriented bars to more welcoming mixed-gender venues. In general, the case study shows how both historical legacies and the spatial organization and scale of public drinking streets influence the forms of sociability and community that are sustained there.