scholarly journals CLIMATE CHANGE AND ECONOMY IN NIGERIA: A QUANTITATIVE APPROACH

2021 ◽  
Vol 19 (34) ◽  
Author(s):  
Adejumo Musibau Ojo
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Growth Model ◽  
Climatic Factors ◽  
Research Work ◽  
Green Economy ◽  
Series Data ◽  
Annual Average ◽  
Long Run ◽  
Average Rainfall

This study has examined the potential impacts of climate change on Nigerian economic growth using a time series data (1980-2017). In doing so, an econometric model has been constructed based on theoretical and empirical literatures of the climate change economics, then it has employed a growth model adapted from the Solow growth model. The research work found that annual average rainfall has a significant effect on economic growth both short-run and long-run. Also, there is a high degree of positive and significant relationship between carbon emission, foreign direct investment, gross fixed capital formation and economic growth under investigation. The result also revealed that this relationship between climatic factors and economic growth is more noticeable in the long run. In addition, an inverse relationship was found between forest depletion, population growth and economic growth in the long run. Finally, there is unidirectional causality between annual average rainfall and economic growth in Nigeria. It is therefore recommended that the stakeholders and the general public should build green economy that enables sinking carbon and promotes carbon market in the long-run.

scholarly journals Infrastructures Development, Environmental Quality and Economic Growth in Nigeria

2021 ◽  
pp. 097493062110584
Author(s):  
Ademola E. Ojo ◽  
Ditimi Amassoma
Keyword(s):  
Economic Growth ◽  
Population Growth ◽  
Environmental Quality ◽  
Time Series Data ◽  
Human Life ◽  
Value Added ◽  
Green Economy ◽  
Series Data ◽  
Long Run ◽  
Bound Test

The Earth as a planet supports human life, living and activities, attracting extensive and intensive socioeconomic influences on the economy. Such activities like infrastructures development exerts increasing and divers environmental quality concerns and hence the economic growth. While these variables appear interrelated due to many factors including population growth, urbanisation, etc. However, the relationship between infrastructures, environment and economic growth is not largely known especially in Nigeria. This study therefore investigated their relationship using time series data between 1990 and 2019 by adopting Co-integration estimation technique through the Bound test approach of auto regressive distributive lag method using percentage share of building and construction sector of gross domestic product (GDP), carbon dioxide, population growth GDP growth rate, etc. as variables. The study revealed that the infrastructures development and environmental quality explain economic growth and have both short and long run relationships while specifically population growth and agriculture, forestry, fishing, value added variables are positively significant to economic growth. The findings evidences of both short and long run relationships among the variables are significant and it is consequently recommended that new roles for infrastructure sets and production processes should consider environmental quality mindsets to achieve positive green economy outcomes in Nigeria. JEL Classification: O18, O44, Q5

scholarly journals Relationship of Energy Consumption and Economic Growth in Pakistan

2020 ◽  
Vol 6 (2) ◽  
pp. 605-617
Author(s):  
Shabana Parveen ◽  
Sohail Farooq ◽  
Habib Elahi Sahibzada ◽  
Hazrat Ali
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Research Work ◽  
Electricity Consumption ◽  
Information Criterion ◽  
Causal Link ◽  
Series Data ◽  
Var Model ◽  
Total Consumption ◽  
Long Run

The paper analyzed the fundamental relationship among the uses of energy, uses of electricity and gas,   total consumption of oil, and economic development of Pakistan. This analysis used  time series data for the  sample span of 1972-2017, retrieved from economic survey of Pakistan (ESP, 2018). Vector Auto Regressive (VAR) model is used for analyzing the causal link amongst the variables. Before estimating VAR, Augmented Dickey Fuller (ADF) and  breusch-Godfrey serial correlation LM tests are applied for confirming a stationarity characteristic of every variable, initial with intercept and then, with interrupt along with the linear deterministic trend. The Schwartz Information Criterion (AIC) is applied for the selection of optimal lag.  Johansen Co-integration analysis is adopted for identifying long run association. Result of the VAR model reveals that 1% increase in consumption of natural gas accelerates economic growth by   1.5%.Similarly 1% increase in consumption of petroleum increases economic growth by about 0.2%. Similarl,1% increase in electricity consumption brings about 1.03% increase in economic growth which is statistically insignificant. The findings of the research work propose that policy makers require to plan for environmental issue while making policies regarding the uses of energy and development of economy and also search for cheap and environmental friendly energy sources like construction of dams, provision of solar system and wind mills.

Fish Exports and Economic Growth: The Pakistan’s Experience

2019 ◽  
Vol 20 (2) ◽  
pp. 279-296 ◽  
Author(s):  
Syed Tehseen Jawaid ◽  
Mohammad Haris Siddiqui ◽  
Zeeshan Atiq ◽  
Usman Azhar
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Positive Impact ◽  
Impulse Response Function ◽  
Policy Implications ◽  
Sensitivity Analyses ◽  
Series Data ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run

This study attempts to explore first time ever the relationship between fish exports and economic growth of Pakistan by employing annual time series data for the period 1974–2013. Autoregressive distributed lag and Johansen and Juselius cointegration results confirm the existence of a positive long-run relationship among the variables. Further, the error correction model reveals that no immediate or short-run relationship exists between fish exports and economic growth. Different sensitivity analyses indicate that initial results are robust. Rolling window analysis has been applied to identify the yearly behaviour of fish exports, and it remains negative from 1979 to 1982, 1984 to 1988, 1993 to 1999, 2004 and from 2010 to 2013, and it shows positive impact from 1989 to 1992, 2000 to 2003 and from 2005 to 2009. Furthermore, the variance decomposition method and impulse response function suggest the bidirectional causal relationship between fish exports and economic growth. The findings are beneficial for policymakers in the area of export planning. This study also provides some policy implications in the final section.

scholarly journals A Study on Urban Inundation Using SWMM in Busan, Korea, Using Existing Dams and Artificial Underground Waterways

Water ◽  
2021 ◽  
Vol 13 (12) ◽  
pp. 1708
Author(s):  
Yeon-Moon Choo ◽  
Sang-Bo Sim ◽  
Yeon-Woong Choe
Keyword(s):  
Climate Change ◽  
Urban Areas ◽  
Flood Damage ◽  
Virtual Model ◽  
Sustainable Cities ◽  
Annual Average ◽  
New Methods ◽  
Average Rainfall ◽  
Reduction Methods ◽  
Urbanized Areas

The annual average rainfall in Busan area is increasing, causing frequent flooding of Busan’s Suyeong and Oncheon rivers. Due to the increase in urbanized areas and climate change, it is difficult to reduce flood damage. Therefore, new methods are needed to reduce urban inundation. This study models the effects of three flood reduction methods involving Oncheon River, Suyeong River, and the Hoedong Dam, which is situated on the Suyeong. Using EPA-SWMM, a virtual model of the dam and the rivers was created, then modified with changes to the dam’s height, the installation of a floodgate on the dam, and the creation of an underground waterway to carry excess flow from the Oncheon to the Hoedong Dam. The results of this study show that increasing the height of the dam by 3 m, 4 m, or 6 m led to a 27%, 37%, and 48% reduction in flooding, respectively, on the Suyeong River. It was also found that installing a floodgate of 10 × 4 m, 15 × 4 m, or 20 × 4 min the dam would result in a flood reduction of 2.7% and 2.9%, respectively. Furthermore, the construction of the underground waterway could lead to an expected 25% flood reduction in the Oncheon River. Measures such as these offer the potential to protect the lives and property of citizens in densely populated urban areas and develop sustainable cities and communities. Therefore, the modifications to the dam and the underground waterway proposed in this study are considered to be useful.

scholarly journals Effects of patents on the transition from stagnation to growth

2019 ◽  
Vol 33 (2) ◽  
pp. 395-411 ◽  
Author(s):  
Angus C. Chu ◽  
Zonglai Kou ◽  
Xilin Wang
Keyword(s):  
Economic Growth ◽  
Intellectual Property ◽  
Property Rights ◽  
Population Size ◽  
Intellectual Property Rights ◽  
Growth Model ◽  
Patent Protection ◽  
Theoretic Analysis ◽  
Schumpeterian Growth ◽  
Long Run

Abstract This study provides a growth-theoretic analysis of the effects of intellectual property rights on the take-off of an economy from an era of stagnation to a state of sustained economic growth. We incorporate patent protection into a Schumpeterian growth model in which take-off occurs when the population size crosses an endogenous threshold. We find that strengthening patent protection has contrasting effects on economic growth at different stages of development. Specifically, it leads to an earlier take-off but also reduces economic growth in the long run.

scholarly journals Non-bank financial institutions and economic growth: Evidence from Africa’s three largest economies

2017 ◽  
Vol 20 (1) ◽  
Author(s):  
Ronald Rateiwa ◽  
Meshach J. Aziakpono
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Financial Institutions ◽  
Time Series Data ◽  
Bank Lending ◽  
Series Data ◽  
The Sustainable Development ◽  
Long Run ◽  
The Relationship

Background: In order for the post-2015 world development agenda – termed the sustainable development goals (SDGs) – to succeed, there is a pronounced need to ensure that available resources are used more effectively and additional financing is accessed from the private sector. Given that traditional bank lending has slowed down, the development of non-bank financing has become imperative. To this end, this article intends to empirically test the role of non-bank financial institutions (NBFIs) in stimulating economic growth.Aim: The aim of this article is to empirically test the existence of a long-run equilibrium relationship between economic growth and the development of NBFIs, and the causality thereof.Setting: The empirical assessment uses time-series data from Africa’s three largest economies, namely, Egypt, Nigeria and South Africa, over the period 1971–2013.Methods: This article uses the Johansen cointegration and vector error correction model within a country-specific setting.Results: The results showed that the long-run relationship between NBFI development and economic growth is relatively stronger in Egypt and South Africa, than in Nigeria. Evidence in respect of Nigeria shows that such a relationship is weak. The nature of the relationship between NBFI development and economic growth in Egypt is positive and significant, and predominantly bidirectional. This suggests that a virtuous relationship between NBFIs and economic growth exists in Egypt. In South Africa, the relationship is positive and significant and predominantly runs from NBFI development to economic growth, implying a supply-leading phenomenon. In Nigeria, the results are weak and mixed.Conclusion: The study concludes that in countries with more developed financial systems, the role of NBFIs and their importance to the economic growth process are more pronounced. Thus, there is need for developing policies targeted at developing the NBFI sector, given their potential to contribute to economic growth.

Export-led Growth Hypothesis: Econometric Evidence from Malaysia

2013 ◽  
Vol 14 (2) ◽  
pp. 94-112
Author(s):  
Hassanudin Mohd Thas Thaker ◽  
Tan Siew Ee ◽  
Sushant Vaidik
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Series Data ◽  
Vector Error Correction ◽  
Distributed Lag ◽  
Long Run ◽  
Paper Cover ◽  
Econometric Evidence ◽  
Augmented Dickey Fuller ◽  
Growth Hypothesis

The objective of this paper is to test the validity of the Export-led Growth Hypothesis (ELGH) in the Malaysian economy. Malaysia has always been considered to have attained its growth primarily through exports (Okposin, Bassey, Hamid, Halim, and Boon, 1999; Mun, 2008; Mahathir, 1990). In the past, several studies on this topic have been conducted but their analyses were limited to relationships using Bound-testing, Autoregressive –Distributed Lag (ARDL) and the Toda Yamamoto analysis. Empirical data and analysis in our paper cover a 21 – year span and quarterly time-series data (1991:Q1 – 2012:Q4) are used to test this ELG hypothesis. Also, many dynamic econometric measures including the Augmented Dickey Fuller (ADF) and Phillip – Perron (PP) unit root tests, Cointegration test as well as the Vector Error Correction model (VEC) for the long run have been applied. Based on these generic models, both real exports and capital stock (productivity) are found to have stimulated positive adjustments to economic growth in the long run whereas real exchange rate is found to have influenced economic growth negatively. Overall, our conclusion is that the ELG hypothesis seems applicable to Malaysia in the long run.

Does Public Debt Service Expenditure Crowd-Out Economic Growth? Empirical Evidence from an African Developing Country

2019 ◽  
Vol 64 (3) ◽  
pp. 23-38
Author(s):  
Talknice Saungweme ◽  
Nicholas M. Odhiambo
Keyword(s):  
Economic Growth ◽  
Public Debt ◽  
Time Series Data ◽  
Policy Formulation ◽  
Debt Service ◽  
Series Data ◽  
Long Run ◽  
Short Run ◽  
The Impact

Abstract This paper contributes to the ongoing debate on the impact of public debt service on economic growth; and it provides an evidence-based approach to public policy formulation in Zimbabwe. The empirical analysis was performed by applying the autoregressive distributed lag (ARDL) technique to annual time-series data from 1970 to 2017. The study findings reveal that the impact of public debt service on economic growth in Zimbabwe is negative in the short run but positive in the long run. The results are suggestive of the existence of a crowding-out effect of public debt service in Zimbabwe in the short run and a crowding-in effect in the long run. In view of these findings, the government should consider fiscal and financial policies that promote a constant supply of long-term finance, long-term fixed investments, and extension of a government securities maturity structure so as to ensure sustainable short- and long-term public debt service expenditures. The study further recommends the strengthening of non-distortionary revenue mobilisation reforms to reduce market distortions and boost domestic investment.

Relationship between Budget Deficit and Economic Growth: Evidence from Ethiopia

2021 ◽  
Vol 2 (2) ◽  
pp. 10-15
Author(s):  
Desalegn Emana
Keyword(s):  
Economic Growth ◽  
Interest Rates ◽  
Budget Deficit ◽  
Time Series Data ◽  
Negative Impact ◽  
Positive Impact ◽  
Negative Relationship ◽  
Nominal Exchange Rate ◽  
Series Data ◽  
Long Run

This study examined the relationship between budget deficit and economic growth in Ethiopia using time series data for the period 1991 to 2019 by applying the ARDL bounds testing approach. The empirical results indicate that budget deficit and economic growth in Ethiopia have a negative relationship in the long run, and have a weak positive association in the short run. In line with this, in the long run, a one percent increase in the budget deficit causes a 1.43 percent decline in the economic growth of the country. This result is consistent with the neoclassical view which says budget deficits are bad for economic growth during stimulating periods. Moreover, in the long run, the variables trade openness and inflation have a positive impact on Ethiopian economic growth, and on the other hand, the economic growth of Ethiopia is negatively affected by the nominal exchange rate in the long run. Apart from this, in the long run, gross capital formation and lending interest rates have no significant impact on the economic growth of the country. Therefore, the study recommends the government should manage its expenditure and mobilize the resources to generate more revenue to address the negative impact of the budget deficit on economic growth.

Has the low level of economic growth spurred informal sector activities in Uganda? An empirical analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Stephen Esaku
Keyword(s):  
Economic Growth ◽  
Informal Sector ◽  
Shadow Economy ◽  
Time Series Data ◽  
Series Data ◽  
Content Type ◽  
Low Level ◽  
Revenue Collection ◽  
Long Run ◽  
Short Run

PurposeIn this paper, the authors examine how economic growth shapes the shadow economy in the long and short run.Design/methodology/approachUsing annual time series data from Uganda, drawn from various data sources, covering the period from 1991 to 2017, the authors apply the ARDL modeling approach to cointegration.FindingsThis paper finds that an increase in economic growth significantly reduces the size of the shadow economy, in both the long and short run, all else equal. However, the long-run relationship between the shadow economy and growth is non-linear. The results suggest that the rise of the shadow economy could partially be attributed to the slow and sluggish rate of economic growth.Practical implicationsThese findings imply that addressing informality requires addressing underlying factors of underdevelopment since improvements in economic growth also translate into a reduction in the size of the shadow economy in the short and long run.Originality/valueThese findings reveal that the low level of economic growth is an issue because it spurs informal sector activities in the short run. However, as the economy improves, it becomes an incentive for individuals to operate in the informal sector. Additionally, tackling shadow activities in the short run could help improve tax revenue collection.

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