scholarly journals Sectorial Analysis of the Impact of Aviation Transport on Nigerian Economy: A Study of Four Selected International Airports (2003-2015)

2017 ◽  
Vol 3 (3) ◽  
pp. 310
Author(s):  
Siyan Peter ◽  
Mohammed Nuruddeen Isa ◽  
Adeniji Sesan Oluseyi
Keyword(s):  
Economic Growth ◽  
Error Correction ◽  
Correction Term ◽  
Economic Value ◽  
Strong Relationship ◽  
Explanatory Variables ◽  
International Airport ◽  
Port Harcourt ◽  
Sectorial Analysis ◽  
The Impact

<p><em>This study examined the impact of aviation sector on economic growth in Nigeria using four selected international airports activities namely; Murtala Muhammed International Airport, Ikeja, Lagos; Mallam Aminu Kano International Airport, Kano; Nnamdi Azikiwe International Airport, Abuja; and Port Harcourt International Airport, Port Harcourt between 2003-2015. The study employed error correction model in analyzing the model specified in the study. The result revealed positive connection amid the explained variable LGDP and explanatory variables; Passanger Traffic and Aircraft Movement for all the considered airports which are all in compliance with the apriori expectation. All the explanatory variables except passenger traffic and aircraft movement of Mallam Aminu Kano International Airport were significant in explaining economic growth in Nigeria. While the error correction term, ECM<sub>t-1</sub> with a high feedback of 84% has the expected negative sign and presented the rate at which disequilibrium will be adjusted back to equilibrium which also showed the existence of a strong relationship between the aviation sectors’ activities and economic growth in Nigeria</em><em>. The study recommends that government should ensure continuous supervision of the activities of aviation sector so as to increase their services of connecting people, goods and services which in turn will create more economic value leading to economic growth and improve aviation infrastructures for a competitive advantage to that of other countries.</em><em></em></p>

scholarly journals Econometric Study of the Impact of Public and Private Investment on Economic Growth in Algeria during the Period (1970-2017)

2020 ◽  
pp. 58-69
Author(s):  
Hadjoudj Abdallah ◽  
TchiKo Faouzi
Keyword(s):  
Economic Growth ◽  
Error Correction ◽  
Correction Term ◽  
Public Investment ◽  
Unit Root Test ◽  
Private Investment ◽  
Bounds Testing ◽  
Public And Private ◽  
Percent Increase ◽  
The Impact

This article examines the impact of public and private investment on economic growth in Algeria covering the period from 1970 to 2017. By applying the Auto-Regressive Distributed Lag model (ARDL)-(bounds testing approach). The key findings of the study concluded that there is a long-run relationship between public and private investment and economic growth in Algeria. The result of the Augmented Dickey Fuller unit root test (ADF) showed that the variables are stationary at the level and at the first difference. In addition, the results of the cointegration test indicated that the variables are cointegrated and therefore have the ability to move together over the long term. The parsimonious error correction mechanism showed that private investment is significantly related to economic growth. The result indicated that a 1 percent increase in the present value of private investment, on average, stimulates economic growth by 0.09 percent. Similarly, the value of public investment is positively related to economic growth. On average, a 1 percent increase in public investment stimulates growth in Algeria by 0.05 percent. the results of short-run dynamics reveal that, the error correction term (ECM) is negative and significant (-0.54), which means that 54% of the disequilibrium will be adjusted annually.

scholarly journals Impact of economic growth on international reserve holdings in Brazil

2017 ◽  
Vol 37 (3) ◽  
pp. 605-614 ◽  
Author(s):  
MOHAMMAD KASHIF ◽  
P. SRIDHARAN ◽  
S. THIYAGARAJAN
Keyword(s):  
Economic Growth ◽  
Error Correction ◽  
Correction Term ◽  
International Reserves ◽  
Speed Of Adjustment ◽  
Error Correction Term ◽  
Long Run ◽  
Short Run ◽  
Using Data ◽  
The Impact

ABSTRACT This study investigated the impact of economic growth on Brazilian international reserves holdings in the context of Error Correction Mechanism using data over the 1980-2014 period. The results reveal that economic growth is highly significant. From the estimation of our model, we argue that economic growth and international reserves have positive long run relationship. Error correction estimates validated our model for error correction term is negative and statistically significant. Besides, our model suggested that economic growth has short run relationship too. The speed of adjustment is more than 40% which indicated that error correction term corrects previous year disequilibrium at the rate of 40.4%.

The Impact of Foreign Aid on Economic Growth in Ethiopia

2020 ◽  
Author(s):  
Belay Asfaw Gebresilassie ◽  
Girma Gezmu Gebre
Keyword(s):  
Economic Growth ◽  
Foreign Aid ◽  
Error Correction ◽  
Negative Impact ◽  
Correction Term ◽  
Annual Data ◽  
Close Monitoring ◽  
Long Run ◽  
Short Run ◽  
The Impact

Abstract This study analyzes the impact of foreign aid on economic growth in Ethiopia based on time series annual data for the period of 1974 to 2017. Autoregressive distributed lag Approach to Co-integration and Error Correction Model was applied in order to investigate the long-run and short-run relationship between dependent and the independent variables. The empirical results from econometrics model reveal that foreign aid has negative impact on economic growth in both long run and short run and statistically significant at 1 percent significant level. The negative and significant error correction term shows that the short run disequilibrium adjusts to its long run equilibrium by 84.6 percent each year. The important policy implication of this study suggests that more effort has to be made to improve the negative impact of foreign aid, mainly because of existence of poor institutional arrangement that contributes the fund to unproductive sectors. The government has to ensure, a close monitoring and consistent management strategies, which is used to avoid misallocation and mismanagement problems and has to ensure that foreign aid is linked to the productive sectors to optimize the benefits.

scholarly journals The Impact of Industrialization, Trade Openness, Financial Development, and Energy Consumption on Economic Growth in Indonesia

Economies ◽  
2021 ◽  
Vol 9 (4) ◽  
pp. 174
Author(s):  
Khalid Eltayeb Elfaki ◽  
Rossanto Dwi Handoyo ◽  
Kabiru Hannafi Ibrahim
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Least Squares ◽  
Financial Development ◽  
Correction Term ◽  
Trade Openness ◽  
Ordinary Least Squares ◽  
Distributed Lag ◽  
Long Run ◽  
The Impact

This study aimed to scrutinize the impact of financial development, energy consumption, industrialization, and trade openness on economic growth in Indonesia over the period 1984–2018. To do so, the study employed the autoregressive distributed lag (ARDL) model to estimate the long-run and short-run nexus among the variables. Furthermore, fully modified ordinary least squares (FMOLS), dynamic least squares (DOLS), and canonical cointegrating regression (CCR) were used for a more robust examination of the empirical findings. The result of cointegration confirms the presence of cointegration among the variables. Findings from the ARDL indicate that industrialization, energy consumption, and financial development (measured by domestic credit) positively influence economic growth in the long run. However, financial development (measured by money supply) and trade openness demonstrate a negative effect on economic growth. The positive nexus among industrialization, financial development, energy consumption, and economic growth explains that these variables were stimulating growth in Indonesia. The error correction term indicates a 68% annual adjustment from any deviation in the previous period’s long-run equilibrium economic growth. These findings provide a strong testimony that industrialization and financial development are key to sustained long-run economic growth in Indonesia.

scholarly journals Political Stability and its Impact on Economic Growth of Pakistan (1988-2018): A Time Series Analysis

2020 ◽  
Vol 6 (1) ◽  
pp. 273-282
Author(s):  
Majid Hussain Phul ◽  
Muhammad Saleem Rahpoto ◽  
Ghulam Muhammad Mangnejo
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Time Series Data ◽  
Political Stability ◽  
Series Data ◽  
Explanatory Variables ◽  
Long Run ◽  
Short Run ◽  
The Impact ◽  
Positive Effect

This research paper empirically investigates the outcome of Political stability on economic growth (EG) of Pakistan for the period of 1988 to 2018. Political stability (PS), gross fixed capital formation (GFCF), total labor force (TLF) and Inflation (INF) are important explanatory variables. Whereas for model selection GDPr is used as the dependent variable. To check the stationary of time series data Augmented Dickey Fuller (ADF) unit root (UR) test has been used,  and whereas to find out the long run relationship among variables, OLS method has been used. The analysis the impact of PS on EG (EG) in the short run, VAR model has been used. The outcomes show that all the variables (PS, GFCF, TLF and INF) have a significantly positive effect on the EG of Pakistan in the long run period. But the effect of PS on GDP is smaller. Further, in this research we are trying to see the short run relationship between GDP and other explanatory variables. The outcomes show that PS does not have such effect on GDP in the short run analysis. While GFCF, TLF and INF have significantly positive effect on GDP of Pakistan in the short run period.

scholarly journals The Relationship between Tax Revenue and Economic Growth in Nepal: A Co-integration Approach

2018 ◽  
Vol 11 (1) ◽  
pp. 28-36
Author(s):  
Gautam Maharjan
Keyword(s):  
Economic Growth ◽  
Error Correction ◽  
Unit Root ◽  
Unit Root Test ◽  
Error Correction Model ◽  
Series Data ◽  
Tax Revenue ◽  
Correction Model ◽  
The Impact ◽  
The Relationship

The main objective of this paper is to examine the relationship between tax revenue and economic growth in Nepal. The 43 years' annual time series data from 1974/75 to 2016/17 of GDP, tax revenue and nontax revenue have been used to test the causal relationship of the variables. A unit root test, Engle-Granger’s co-integration and Error Correction Model have been applied for the data analysis. The variables have been found stationary after first differencing I(1) when Augmented Dickey-Fuller unit root test is employed. From Engel-Granger test, it has been found that the variables are co-integrated. The short-term coefficients are not significant, however error correction term (ECT) is significant and contains a negative sign in the error correction model (ECM). It validates the ECM model. The ECT has shown that the annual speed of adjustment from disequilibrium to equilibrium is 34.3 percent. So far as the relationship is concerned, there is a long run relationship between tax revenue and economic growth in Nepal controlling the non-tax revenue. The impact of tax revenue on economic growth could be a good impetus for the policy maker and planner to increase the collection of revenue for the country.

scholarly journals Comments on "Researcher bias: The use of machine learning in software defect prediction"

2015 ◽  
Author(s):  
Chakkrit Tantithamthavorn ◽  
Shane McIntosh ◽  
Ahmed E Hassan ◽  
Kenichi Matsumoto
Keyword(s):  
Prediction Model ◽  
Strong Association ◽  
Model Performance ◽  
Strong Relationship ◽  
Defect Prediction ◽  
Explanatory Variables ◽  
Software Defect ◽  
The Impact ◽  
The Relationship ◽  
Selection Of

Shepperd et al. (2014) find that the reported performance of a defect prediction model shares a strong relationship with the group of researchers who construct the models. In this paper, we perform an alternative investigation of Shepperd et al. (2014)’s data. We observe that (a) researcher group shares a strong association with the dataset and metric families that are used to build a model; (b) the strong association among the explanatory variables introduces a large amount of interference when interpreting the impact of the researcher group on model performance; and (c) after mitigating the interference, we find that the researcher group has a smaller impact than the metric family. These observations lead us to conclude that the relationship between the researcher group and the performance of a defect prediction model may have more to do with the tendency of researchers to reuse experimental components (e.g., datasets and metrics). We recommend that researchers experiment with a broader selection of datasets and metrics to combat potential bias in their results.

Human Capital Impact on Economic Growth in Nigeria

2021 ◽  
Vol 7 (18) ◽  
pp. 15-22
Author(s):  
Chuwuemeka Ogugua AGBO ◽  
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Time Series Data ◽  
Capital Expenditure ◽  
Private Investment ◽  
Series Data ◽  
Tertiary Institutions ◽  
Explanatory Variables ◽  
The Government ◽  
The Impact

This study aims to examine the impact of human capital on economic growth in Nigeria. Despite all effort to improve education condition in Nigeria, there hasn’t been much encouraging improvement. This has caused a large number of the population to move abroad for studies. Most conducive tertiary institutions are owned by private individuals, the government owned universities have been overlooked and recklessly abandoned. In this study OLS multiple regression was adopted to analyze the time series data for the period of 1985-2018 to test if Average Year of Schooling (AVYS), Private Investment in Telecommunication (PIT), Capital Expenditure on Education (CEE), and Recurrent Expenditure on Education (REE) have an impact on growth in Nigeria or not. The data was derived from CBN statistical Bulletin (2018). Result showed that all the four explanatory variables have significant impact on Economic growth. However, it is therefore important for government to increase education budget annually.

Money Supply-Economic Growth Nexus: Evidence from a Landlocked Country

2020 ◽  
Vol 2 (1) ◽  
pp. 106-115
Author(s):  
Tilak Singh Mahara
Keyword(s):  
Economic Growth ◽  
Money Supply ◽  
Correction Term ◽  
Policy Instruments ◽  
Special Role ◽  
Real Gdp ◽  
Long Run ◽  
Ardl Approach ◽  
Short Run ◽  
The Impact

Background: There is special role of money in the economy due to its astonishing importance as change in the amount of it can have a significant effect on the major macroeconomic variables. Money supply is generally considered as policy-determined phenomenon. Like in all the nations, macroeconomic stability of Nepal also depends on the variation in the quantity of money. Objective: The principle objective of the study is to examine the impact of money supply on the economic growth of Nepal. Methodology: This study applies the ARDL approach to cointegration. Bounds test (F-version) has been carried out to determine the existence of long-run relationship between variables. Results: The empirical results pointed out that there is positive and significant long-term relationship between money supply and real economic growth in Nepal. Causality result reveals that there is unidirectional causality from money supply (M2) to Real GDP. The error correction term is found negative and statistically significant suggesting a correction of short-run disequilibrium within two and a half years. Conclusions: The study concludes that increase in the money supply helps to increase the real economic growth in Nepal. So, money supply and real GDP are associated in the long-run.  Implications: The implication of the study is that, real economic growth in Nepal can be achieved if Nepal Rastra Bank emphasized on monetary policy instruments which help to increase the flow of money supply both in the short and long run.

INDIA–CHINA: CHANGING BILATERAL TRADE AND ITS EFFECT ON ECONOMIC GROWTH

2019 ◽  
pp. 1-20 ◽  
Author(s):  
RAKESH KUMAR
Keyword(s):  
Economic Growth ◽  
Bilateral Trade ◽  
Significant Rise ◽  
Trade Patterns ◽  
Explanatory Variables ◽  
Distributed Lag ◽  
Long Run ◽  
Trade Share ◽  
The Impact ◽  
India And China

This paper highlights the policy aspects of India and China, in the context of consensus building on bilateral trade, which is the cornerstone of diplomatic and political ties between the two countries. India and China have witnessed uninterrupted economic development with a significant rise in bilateral trade because of protrade policies in the last few decades. In this backdrop, this paper examines the dynamic spillovers of India–China’s bilateral trade on the economic growth of the two countries. For the purpose, Autoregressive distributed lag (ARDL) model in multivariate framework is utilized with gross capital formation (GCF) and foreign direct investment (FDI) as two additional explanatory variables. The results highlight that the India–China bilateral trade share has significant long-run impact on the growth of GDP per capita (GDPP) of the two countries, while the impact is more pronounced for China. The growth rates of the two countries are found significantly cointegrated with the variables in question. The results provide important insights in foreign trade patterns, with policy implication for trade and economic co-operations between the two countries.

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