scholarly journals The role of the level of development, geographical factors, and culture for the efficacy of economic freedom

Equilibrium ◽  
2015 ◽  
Vol 10 (4) ◽  
pp. 85
Author(s):  
Małgorzata Zielenkiewicz
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Panel Data ◽  
Regression Models ◽  
Economic Freedom ◽  
Geographical Location ◽  
Developed Countries ◽  
Geographical Factors

There are many studies focused on the role of economic freedom in creating conditions supportive for economic growth. Most of the recommendations in this area are based on the observations of the highly developed countries. But is it reasonable to generalize these findings to other countries, independently from their conditions? Contemporarily, the number of the research conducted for the countries outside the world's forefront is growing. Results are varied – some elements of economic freedom seem to be effective unconditionally, some of them bring different results. The aim of the paper is to examine the role of such factors as a stage of economic development, geographical location, and culture in the context of the efficacy of economic freedom. The study was conducted with usage of regression models for panel data and based on the indicators connected with economic freedom and economic growth.

scholarly journals HUBUNGAN ANTARA KORUPSI DENGAN PERKEMBANGAN PASAR SAHAM DAN PERBANKAN: KAJIAN EMPIRIS PADA SEMBILAN NEGARA DIKAWASAN ASEAN+3

2017 ◽  
Vol 15 (1) ◽  
pp. 1
Author(s):  
Muhammad Fazri ◽  
Hermanto Siregar ◽  
Heni Hasanah
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Panel Data ◽  
Stock Market ◽  
Financial Institutions ◽  
Development Process ◽  
Institutional Influences ◽  
Banking Development ◽  
Macroeconomic Stability

Banking and stock market are two financial institutions which play an important role in the economic development process. Many studies suggest that the development of banking and stock market are able to increase the economic growth. There are factors which influence the development of these two financial institutions, for example macroeconomic stability and institutional influences such as corruption. This study aims to analyze how corruption affects the development of banking and stock market and also tries to identify the role of development of banking to reduce corruption. This study uses panel data for nine countries of ASEAN +3 region, during 2003-2012. The result shows that corruption hinders the development of banking and stock market. In addition, banking development will reduce corruption.

scholarly journals DAMPAK KEBEBASAN EKONOMI TERHADAP PERTUMBUHAN EKONOMI

Media Ekonomi ◽  
2014 ◽  
Vol 22 (3) ◽  
pp. 221
Author(s):  
Agustina Suparyati
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Economic Development ◽  
Government Spending ◽  
Quantitative Data ◽  
Economic Freedom ◽  
Developed Countries ◽  
Asean Countries ◽  
Growth Economic ◽  
Business Freedom

<p>The purpose of this study is to examine the effect of economic development on economic growth. Economic freedom as an indicator of the progress of a country's welfare level consisting of 10 constituent components namely Property Rights, Freedom from Corruption, Fiscal Freedom, Government Spending, Business Freedom or Regulatory Freedom, Labor Freedom, Monetary Freedom, Freedom Trade, Investment Freedom and Financial Freedom. This study uses annual quantitative data in the span of time between 2001-2012 with the object of research in developed countries in Asia (Japan, China, South Korea and Singapore) and developing countries in Asia (Indonesia, Malaysia, Laos, Thailand, Philippines, Singapore and Vietnam ) The results obtained that in ASEAN countries the variables that affect economic growth are variables of right property, business freedom, trade freedom and financial freedom while in developed countries in Asia, the components of influential economic freedom are property right, freedom from corruption, government spending, monetary freedom , business freedom, and financial freedom.</p>

PENGARUH PEMBANGUNAN INFRASTRUKTUR TERHADAP PDRB DI PROVINSI INDONESIA

Wahana ◽  
2019 ◽  
Vol 22 (1) ◽  
pp. 15-27
Author(s):  
Suripto Suripto ◽  
Eva Dwi Lestari
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Panel Data ◽  
Infrastructure Investment ◽  
Water Infrastructure ◽  
Infrastructure Development ◽  
Road Infrastructure ◽  
Health Infrastructure ◽  
Spatial Coverage ◽  
The Government

Economic growth is one indicator to measure  the success of economic development in a country. Economic development is closely related to infrastructure. Infrastructure development will have an impact on economic growth both directly and indirectly. Therefore, the role of the government in determining infrastructure development policies is very important to increase economic growth in Indonesia. The purpose of this study is to determine the effect of infrastructure on economic growth in Indonesia including road infrastructure, electricity infrastructure, investment, water infrastructure, education infrastructure and health infrastructure in Indonesia in 2015-2017.The analytical tool used in this study is panel data regression with the approach of Fixed Effect Model. The spatial coverage of this study is all provinces in Indonesia, namely 34 provinces, with a series of data from 2015 to 2017 with a total of 102 observations. The data used is secondary data obtained from BPS Indonesia.The results of the study show that (1) the road infrastructure variables have a negative and not significant effect on GDRP. (2) electrical infrastructure variables have a negative and not significant effect on GDRP. (3) investment variables have a positive and significant effect on GDRP. (4) water infrastructure variables have a positive and not significant effect on GDRP. (5) educational infrastructure variables have a positive and not significant effect on GDRP. (6) health infrastructure variables have a positive and significant effect on GDRP. Keywords: development, infrastructure, investment, GDRP, panel data

Growth and Social Capital: Empirical Analysis of the Relationship

2019 ◽  
pp. 128-134
Author(s):  
Ksenia V. Bagmet
Keyword(s):  
Economic Growth ◽  
Social Capital ◽  
Economic Development ◽  
Social Development ◽  
Empirical Analysis ◽  
Panel Data Analysis ◽  
Well Being ◽  
Developed Countries ◽  
International Institute ◽  
Level Of Economic Development

The article provides an empirical test of the hypothesis of the influence of the level of economic development of the country on the level of development of its social capital based on panel data analysis. In this study, the Indices of Social Development elaborated by the International Institute of Social Studies under World Bank support are used as an indicators of social capital development as they best meet the requirements for complexity (include six integrated indicators of Civic Activism, Clubs and Associations, Intergroup Cohesion, Interpersonal Safety and Trust, Gender Equality, Inclusion of Minorities), comprehensiveness of measurement, sustainability. In order to provide an empirical analysis, we built a panel that includes data for 20 countries divided into four groups according to the level of economic development. The first G7 countries (France, Germany, Italy, United Kingdom); the second group is the economically developed countries, EU members and Turkey, the third group is the new EU member states (Estonia, Latvia, Lithuania, Romania); to the fourth group – post-Soviet republics (Armenia, Georgia, Russian Federation, Ukraine). The analysis shows that the parameters of economic development of countries cannot be completely excluded from the determinants of social capital. Indicators show that the slowdown in economic growth leads to greater cohesion among people in communities, social control over the efficiency of distribution and use of funds, and enforcement of property rights. The level of tolerance to racial diversity and the likelihood of negative externalities will depend on the change in the rate of economic growth. Also, increasing the well-being of people will have a positive impact on the level of citizens’ personal safety, reducing the level of crime, increasing trust. Key words: social capital, economic growth, determinant, indice of social development.

scholarly journals Investigating the effects of environmental patents and climate change mitigation technologies on sustainable economic growth in the Middle East

2021 ◽  
Author(s):  
Sadegh Abedi ◽  
Mehrnaz Moeenian
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Middle East ◽  
Climate Change Mitigation ◽  
Developed Countries ◽  
Factors Affecting ◽  
Middle East Countries ◽  
Sustainable Economic Growth ◽  
Change Mitigation

Abstract Sustainable economic growth and identifying factors affecting it are among the important issues which have always received attention from researchers of different countries. Accordingly, one of the factors affecting economic growth, which has received attention from researchers in the developed countries over recent years, is the issue of environmental technologies that enter the economic cycle of other countries after being patented through technology transfer. The current research investigated the role of the environment-related patents and the effects of the patented technological innovations compatible with climate change mitigation on the economic growth and development in the Middle East countries within a specific time period. The required data were gathered from the valid global databases, including Organization for Economic Co-operation and Development and World Bank and have been analyzed using multi-linear regression methods and econometric models with Eviews 10 software. The obtained results with 95% confidence level show that the environmental patents (β = 0.02) and environment management (β = 0.04) and technologies related to the climate change mitigation (β = 0.02) have a significant positive impact on the sustainable economic development and growth rate in the studied countries. Such a study helps innovators and policymakers in policy decisions related to sustainable development programs from the perspective of environmentally friendly technologies by demonstrating the role of patents in three important environmental areas, namely environmental management, water-related adaptation and climate change mitigation, as one of the factors influencing sustainable economic growth.

scholarly journals The role of diversity and tolerance in economic development

2021 ◽  
Author(s):  
Witold Kwasnicki
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Industrial Development ◽  
Evolutionary Process ◽  
Evolutionary Model ◽  
Industry Development ◽  
Radical Innovations ◽  
Long Run

AbstractThis paper presents an evolutionary model of industry development, and uses simulations to investigation the role of diversity and heterogeneity in firms’ behaviour, and hence industrial development. The simulations suggest that economic growth is increased with greater variety, in the sense of the evolutionary process approaching the equilibrium faster and also, in the long run, moving faster from one equilibrium to a new, more advanced, equilibrium. This occurs due to higher variety caused by a more tolerant environment, and due to the higher probability of emergence of radical innovations.

Analysis of Major Problems Faced by Small Firms in North India

2015 ◽  
Vol 15 ◽  
pp. 150-160
Author(s):  
Davinder Singh ◽  
Jaimal Singh Khamba ◽  
Tarun Nanda
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Economic Development ◽  
Small Firms ◽  
Small And Medium Enterprises ◽  
Developed Countries ◽  
North India ◽  
Small Enterprises ◽  
Employment Generation ◽  
Medium Enterprises

Micro, Small and Medium Enterprises (MSMEs) have been noted to play a significant role in promoting economic growth in less developed countries, developing and also in developed countries. Worldwide, the micro and small enterprises have been accepted as the engine of economic growth of any nation. Small and Medium Enterprises are the backbone of the economies, because it trigger employment, output, export, poverty alleviation, economic empowerment, economic development etc. in developed as well as in developing countries. It is more important to developing countries as the poverty and unemployment are burning problems. MSMEs have been playing a momentous role in overall economic development of a country like India where millions of people are unemployed or underemployed. Therefore, the growth of small sectors is essential for the growth in the GDP, employment generation, total manufacturing production and export. India, being one of the fastest growing economies of the world, needs to pay an honest attention for the utmost growth of MSMEs for its increased contribution in above areas.

CONCEPTUAL PRINCIPLES OF ACHIEVING INTELLECTUAL LEADERSHIP

2021 ◽  
Vol 6 (2) ◽  
pp. 100-104
Author(s):  
Liudmyla Tsymbal
Keyword(s):  
Economic Development ◽  
Intellectual Capital ◽  
Global Economy ◽  
Physical Capital ◽  
Developed Countries ◽  
Educational Process ◽  
High Tech ◽  
The Impact ◽  
Intellectual Leadership

The article identifies the key conceptual foundations for the formation of intellectual leadership of economic entities, including countries as specific actors in the global economy. Thorough preconditions for increasing the level of economic development and the impact of education have been identified. It is determined that historical concepts and modern realities of economic activity only actualize the role of education and enlightenment in the economic development of the national economy and ensuring its competitiveness. The strategies of increasing the competitiveness of individual countries of the world are analyzed, their key priorities in the conditions of formation of the knowledge economy are determined. The evolution of views on the role of human and intellectual capital in increasing the welfare of countries, the impact on GDP and other macroeconomic indicators is described. The ratings of countries are analyzed, in particular by the level of investment in intellectual capital and the structure of their GDP, which confirms the dominance of science-intensive economic activities. In addition, it was determined that the leading countries are characterized by increasing the role of knowledge-intensive activities, increasing the share of intangible assets, redistribution of capital of leading international companies and increasing research spending, increasing investment in human and intellectual capital, increasing exports of high-tech products. Analytical assessment confirms the advanced development of science-intensive industries in countries with developed economies, which creates the need for training and retraining of specialists needed for such industries. In modern conditions, the educational process ceases to be predominantly the prerogative of young people, and becomes a lifelong process, which increases spending on education in developed countries, but without denying the significant asymmetries on this indicator. Research confirms the direct relationship between the quality of human and physical capital and economic development, which is typical of highly developed countries, one of the main reasons for the development lag of the poorest countries. In addition, the article substantiates the key factors of intellectual leadership and their impact on the development of economic development strategies.

The Role of Entrepreneurial Performance in Supporting Economic Development of Countries: An Empirical Approach

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Valentina Diana Rusu ◽  
Angela Roman
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Social Progress ◽  
Entrepreneurial Performance ◽  
Panel Data Estimation ◽  
Positive Effects ◽  
National Competitiveness ◽  
Key Factor ◽  
Future Economic Development

Abstract Entrepreneurship is recognized as one of the factors stimulating economic growth and increasing economic competitiveness. In addition, the Europe 2020 Strategy has focused its attention on entrepreneurship as a key factor of economic growth, social progress, and employment. In this context, our study examines the role of entrepreneurial performance for sustaining the development of countries, focusing on a sample of European countries. We attempt to reveal if increasing entrepreneurial performance would have significant influence on improving the economic position of countries and their future economic development. Starting from the OECD-Eurostat Entrepreneurship Indicators Programme we use a set of entrepreneurial performance indicators as independent variables and examine to what extent they can influence competitiveness and economic growth, seen as dependent variables of the models. We focus on a period of 10 years (2008–2017) and we apply panel-data estimation techniques. Because the period considered includes the period of the last international financial crisis, we also include in our analysis a dummy variable. Our results emphasize that the changes in entrepreneurial performance play a significant role in enhancing national competitiveness and economic growth. Our findings contribute to the expansion of literature in the field by providing evidence on the correlation of indicators that measure entrepreneurial performance with national competitiveness and economic growth. Moreover, our findings point out the need of the policy makers to adopt measures and policies that help and stimulate entrepreneurs to become more performant because they can generate positive effects to the economy as a whole.

Efficiency Driven Effect of Education in China: The Perspective of Global Competitiveness and Graduate Education

2021 ◽  
Vol 1 (1) ◽  
pp. 36-43
Author(s):  
Jia Liu ◽  
Lun Li
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Economic Development ◽  
Practical Significance ◽  
Education Policies ◽  
Global Competitiveness ◽  
Higher Education Policies ◽  
Level Of Economic Development ◽  
Education In China

Capital, natural resources, technology and education are often considered to be the most important factors in improving the level of economic development. China is in the "efficiency-driven" stage of economic development. There are objective laws in the development of education level and economic growth, but they interact with each other. Economic growth provides the foundation and necessary conditions for the development of education. At the same time, the role of education in promoting economic growth is also very obvious. Based on the perspective of postgraduate training, this paper studies the role of education in economic efficiency-driven, through the study of theory, data collection and empirical analysis, combined with the development characteristics of China's higher education, and compares China's and US higher education policies to guide China's higher education. The development of education, and then promote the transformation of China into the "innovation-driven" stage, has certain theoretical and practical significance.

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