Rise In Economic Growth Research Articles

The effects of financial development, economic growth, coal consumption and trade openness on CO2 emissions in South Africa

This paper explores the effects of financial development, economic growth, coal consumption and trade openness on environmental performance using time series data over the period 1965–2008 in case of South Africa. The ARDL bounds testing approach to cointegration has been used to test the long run relationship among the variables while short run dynamics have been investigated by applying error correction method (ECM). The unit root properties of the variables are examined by applying Saikkonen and Lütkepohl (2002. Econometric Theory 18, 313–348) structural break unit root test. Our findings confirmed long run relationship among the variables. Results showed that a rise in economic growth increases energy emissions, while financial development reduces it. Coal consumption has significant contribution to deteriorate environment in South African economy. Trade openness improves environmental quality by reducing the growth of energy pollutants. Our empirical results also verified the existence of environmental Kuznets curve. This paper opens up new insights for South African economy to sustain economic growth by controlling environment from degrdation through efficient use of energy.

Accelerating Economic Growth: A Case Study of Ohio

This paper is an essay on the role of very high speed trains to accelerate regional economic growth with a case study of Ohio. It builds on the network insight that innovation and economic growth rise at a rate that is 1.2 times the size of a city. Very high speed trains can make cities that are between seventy-five and one hundred and fifty miles apart into commuting suburbs of each other. Thus, VHSTs can accelerate innovation and economic growth significantly.

A Real-Time Traffic Information Model Using GPS-Based Probe Car Data

In recent year, the rise of economic growth and technology advance leads to improve the quality of service of traditional transport system. Intelligent Transportation System (ITS) has become more and more popular. At present, the collection of real-time traffic information is executed in two ways: (1) Stationary Vehicle Detectors (VD) and (2) Global Position System (GPS)-based probe cars reporting. However, VD devices need a large sum of money to build and maintain. Therefore, we propose the linear regression model to infer the equation between vehicle speed and traffic flow. The traffic flow can be estimated from the speed which is obtained from GPS-based probe cars. In experiments, the Speed Error Ratio (SER) and Flow Error Ratio (FER) of linear regression model are 4.60% and 24.63% respectively. The estimated speed and traffic flow by using linear regression model is better than by using linear model, power law model, exponential model, and normal distribution model. Therefore, the linear regression model can be used to estimate traffic information for ITS.

Panel Cointegration Analysis of Consumer Confidence and Personal Consumption in the European Union

This study examines the relationship between consumer confidence, personal consumption, and other relevant economic and financial variables for 9 European Union countries. It is argued that consumer confidence is an early indicator of future rates of growth in an economy through the consumption channel. Therefore, an increase in consumer confidence should translate into higher rates of consumption in the future, leading to a possible rise in economic growth. Our panel data analysis, conducting panel unit root tests and panel cointegration tests, tries to measure the effects of changes in consumer sentiment on personal consumption expenditures while accounting for other significant economic and financial variables such as stock exchange index, real exchange rates and interest rates. The empirical findings show the existence of a long‐run relationship. Thus, consumers are able to detect early signals about future rates of economic growth as they contribute through the consumption channel. First Publish Online: 09 Jun 2011

Opportunities in India for Carbon Capture and Storage as a form of climate change mitigation

India is a nation with a rapidly growing economy, achieving an 8.5% GDP growth rate in 2006 and 9.2% in 2007. This rise in economic growth goes hand in hand with an increase in the country’s energy demand, which is currently met, as in many evolving economies, by fossil fuels. Coal is the dominant commercial fuel, accounting for almost 70% of the total energy consumption, but India still faces serious electricity shortfalls. Both the Stern Review and The International Energy Agency’s World Energy Outlook reports have listed Carbon Capture and Storage (CCS) as a carbon mitigation strategy for India. It is unclear, if, how, or when, CCS will have a place within the Indian system.

Productivity-Enhancing Reforms, Private Capital Inflows, and Real Interest Rates in Africa

The rise in economic growth in some countries of Africa over past two decades, powered mainly by productivity boom, has been associated with large private capital inflows despite poor integration of the African countries with the world capital markets. While these countries lack access to world capital markets, they are nonetheless highly dollarized and allowing for this fact can explain large private capital inflows and other stylized macroeconomic facts associated with the productivity-enhancing reforms in Africa. With a number of African economies poised to reap gains in productivity, as they return to stable and sound political and economic environment, the paper suggests the framework that can be used to understand the macroeconomic implications of and suggest appropriate policy responses to such gains in productivity.

Economic Growth, Inequality and Poverty: Estimating the Growth Elasticity of Poverty

This paper uses a new data set of 126 intervals from 60 developing countries to analyze the growth elasticity of poverty, that is, how much does poverty decline in percentage terms with a given percentage rise in economic growth. The data set is both broader in coverage and more selective in terms of quality controls than those used in the past. The study finds that while economic growth does reduce poverty in developing countries, the rate of poverty reduction depends very much on how economic growth is defined. Controlling for changes in income inequality, when economic growth is measured by changes in survey mean income (consumption), the growth elasticity of poverty (excluding Eastern Europe and Central Asia) is −2.79; that is, a 10% increase in the survey mean will reduce poverty ($1.00/person/day) by 27.9%. But, when growth is measured by changes in GDP per capita, the growth elasticity of poverty is a statistically insignificant −2.27, which is lower than has previously been estimated.

The Effects of Fund-Supported Adjustment Programs in African Countries, 1973-86

This study applies statistical analysis to estimate the macroeconomic effects of Fund-supported adjustment programs on African countries during the period 1973-86. The results indicate that inflation fell significantly in countries with adjustment programs that were implemented satisfactorily. The effect of adjustment programs on most other aspects of economic performance was statistically insignificant, although there was some indication that programs led to an improved current account balance and, in cases of high implementation, a rise in economic growth.