scholarly journals Evaluation of the Long-Term Stability and Impact of Remittances and Development Aid on Sustainable Economic Growth in Developing Countries

2019 ◽  
Vol 11 (6) ◽  
pp. 1538 ◽  
Author(s):  
Robert Stojanov ◽  
Daniel Němec ◽  
Libor Žídek
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Regression Models ◽  
Development Aid ◽  
Linear Regression Models ◽  
Term Stability ◽  
Long Term Stability ◽  
Remittance Flows ◽  
Sustainable Economic Growth

In our paper, we analyse the long-term stability and impact of remittances and development aid on sustainable economic growth in developing countries. We use two data samples from countries that were recipients of both aid and remittances in the corresponding period. First, unbalanced data from the years 1970 to 2017; that is, how countries appear in the data. Second, balanced data, where we selected the largest possible set of countries for which data exists without gaps from the years 1970–2017. This dataset consists of 57 countries for the period from 1991 to 2017. Using linear regression models, we conclude that up until the end of the 1980s, the size of aid as a share of gross domestic product (GDP) was larger than the share of remittances. After that, the situation changed and the shares of both inflows were broadly similar. The inflow of remittances was more stable than the inflow of aid and development aid did not (on the contrary to remittances) contribute positively to sustainable economic growth if we consider the entire period between 1970 and 2017. Our results suggest that a statistically significant relationship between development aid and economic growth (per capita) may be observed only in the period from 1990 to 1999. Economic growth in developing countries is negatively influenced by the uncertainty related to the flows of official development assistance (ODA) and aid in all investigated decades. In the case of the remittance flows, the increased volatility tends to contribute negatively to sustainable economic growth only when the remittance flows represent a relatively higher share of GDP.

scholarly journals Impact of Inflation and Unemployment on Economic Growth of Pakistan

2021 ◽  
Vol 6 (4) ◽  
pp. 282-288
Author(s):  
Muhammad Ramzan
Keyword(s):  
Economic Growth ◽  
Diagnostic Tests ◽  
Regression Models ◽  
Error Term ◽  
Least Square ◽  
Linear Regression Models ◽  
Ordinary Least Square ◽  
White Test ◽  
Multiple Linear Regression Models

This paper aims to identify the influence of inflation and unemployment on the economic growth of the country. This study recommends some essential policies about unemployment and inflation in the economic growth of Pakistan. In this study, the “Ordinary Least Square (OLS)” method is used with different diagnostic tests for determining the fitness of data for the investigation; and the data is collected from 1980 to 2018. The econometric results suggest that the time series is stationary because the values of t-statistic are more than t-tab and sig value is also significant. The error term on ADF is significant and that ensures that there is long term association. The results of ECM indicate that inflation and unemployment are away from the value of equilibrium. The results of multiple linear regression models indicate that inflation and unemployment are statistically insignificant, and the overall model is also statistically insignificant. There is no multicollinearity and there is no heteroscedasticity as per White test. By running the Ramsay Reset test, the researcher concludes that the model is not specified because the sig value of the t-test and f-test is significant.

2018 Nobel Economics Prize: Integrating Climate Change Measures into Sustainable Economic Growth

2018 ◽  
Vol 34 (4) ◽  
Author(s):  
Nguyen Thi Thuc An ◽  
Dau Kieu Ngoc Anh
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Endogenous Growth ◽  
Environmental Issues ◽  
Growth Theory ◽  
Endogenous Growth Theory ◽  
Technological Advances ◽  
Academy Of Sciences ◽  
Sustainable Economic Growth

The 2018 Nobel Economics Prize was awarded to two American economists - William D. Nordhaus and Paul M. Romer - who designed methods for better assessing environmental issues and technological advances on growth. This year’s Laureates, Nordhaus was the first person to create an intergrated model to assess interactions between society and nature and Romer laid the foundation for what is now called endogenous growth theory. According to the Swedish Royal Academy of Sciences, these two macroeconomists’ research have helped “significantly broaden the scope of economic analysis by constructing models that explain how the market economy interacts with nature and knowledge” which integrates climate change measures into long-term sustainable economic growth. Keywords Nobel in economics, William D. Nordhaus, Paul M. Romer, climate change, endogenous growth theory, economic growth References [1] Y Vân (2018), “Lý lịch 'khủng' của hai nhà khoa học vừa giành giải Nobel Kinh tế 2018”, Vietnambiz, đăng tải ngày 08/10/2018, https://vietnambiz.vn/ly-lich-khung-cua-hai-nha-khoa-hoc-vua-gianh-giai-nobel-kinh-te-2018-95776.html[2] Jonas O. Bergman, Rich Miller (2018), “Nordhaus, Romer Win Nobel for Thinking on Climate, Innovation”, đăng tải ngày 8/10/2018, https://www.bloomberg.com/news/articles/2018-10-08/nordhaus-romer-win-2018-nobel-prize-in-economic-sciences [3] Antonin Pottier (2018), “Giải Nobel” William Nordhaus có thật sự nghiêm túc?”, Nguyễn Đôn Phước dịch, đăng tải ngày 11/10/2018, http://www.phantichkinhte123.com/2018/10/giai-nobel-william-nordhaus-co-that-su.html[4] Thăng Điệp (2018), “Giải Nobel kinh tế 2018 về tay hai người Mỹ”, đăng tải ngày 8/10/2018, http://vneconomy.vn/giai-nobel-kinh-te-2018-ve-tay-hai-nguoi-my-20181008185809239.htm[5] Lars P. Syll (2018), “Cuối cùng - Paul Romer cũng có được giải thưởng Nobel”, Huỳnh Thiện Quốc Việt dịch, đăng tải ngày 14/10/2018, http://www.phantichkinhte123.com/2018/10/cuoi-cung-paul-romer-cung-co-uoc-giai.html[6] Phương Võ (2018), “Nobel Kinh tế 2018: Chạm tới bài toán khó của thời đại”, đăng tải ngày 9/10/2018, https://nld.com.vn/thoi-su-quoc-te/nobel-kinh-te-2018-cham-toi-bai-toan-kho-cua-thoi-dai-20181008221734228.htm[7] Đông Phong (2018), “Nobel Kinh tế cho giải pháp phát triển bền vững và phúc lợi người dân”, đăng tải ngày 8/10/2018, https://news.zing.vn/nobel-kinh-te-cho-giai-phap-phat-trien-ben-vung-va-phuc-loi-nguoi-dan-post882860.html[8] Thanh Trúc (2018), “Giải Nobel kinh tế 2018: Thay đổi tư duy về biến đổi khí hậu”, https://tusach.thuvienkhoahoc.com/wiki/Gi%E1%BA%A3i_Nobel_kinh_t%E1%BA%BF_2018:_Thay_%C4%91%E1%BB%95i_t%C6%B0_duy_v%E1%BB%81_bi%E1%BA%BFn_%C4%91%E1%BB%95i_kh%C3%AD_h%E1%BA%ADu[9] Cẩm Anh (2018), “Nobel kinh tế 2018: Lời giải cho tăng trưởng kinh tế bền vững”, đăng tải ngày 11/10/2018, http://enternews.vn/nobel-kinh-te-2018-loi-giai-cho-tang-truong-kinh-te-ben-vung-137600.html.

Markets, Technological Change and Economic Growth (The Quaid-i-Azam Lecture)

1994 ◽  
Vol 33 (4I) ◽  
pp. 327-356 ◽  
Author(s):  
Richard G. Lipsey
Keyword(s):  
United States ◽  
Economic Growth ◽  
Developing Countries ◽  
Common Ground ◽  
The United States ◽  
Industrial Countries ◽  
Canadian Institute ◽  
Primary Focus ◽  
Short Time

I am honoured to be invited to give this lecture before so distinguished an audience of development economists. For the last 21/2 years I have been director of a project financed by the Canadian Institute for Advanced Research and composed of a group of scholars from Canada, the United States, and Israel.I Our brief is to study the determinants of long term economic growth. Although our primary focus is on advanced industrial countries such as my own, some of us have come to the conclusion that there is more common ground between developed and developing countries than we might have first thought. I am, however, no expert on development economics so I must let you decide how much of what I say is applicable to economies such as your own. Today, I will discuss some of the grand themes that have arisen in my studies with our group. In the short time available, I can only allude to how these themes are rooted in our more detailed studies. In doing this, I must hasten to add that I speak for myself alone; our group has no corporate view other than the sum of our individual, and very individualistic, views.

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