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Impact of Globalisation On Economic Growth in Romania: An Empirical Analysis of Its Economic, Social and Political Dimensions

Abstract

The paper analyses the link between globalisation and economic growth in Romania for a time span of 24 years. Data from World Bank were used in an econometrical model in order to highlight the impact of globalisation, expressed by the KOF globalisation index and its components (economic, social and political globalisation indices) on economic growth rate. A statistical strong and positive link is found between GDP per capita dynamics and overall globalisation index as well as between GDP growth rate and economic and political globalisation, except the social dimension of globalisation which has a negative impact on economic growth in Romania for the time span 1990-2013.

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Economic Development And Transfrontier Shipments Of Waste In Poland – Spatio-Temporal Analysis

Abstract

The aim of the paper is to apply the spatio-temporal Environmental Kuznets Curve (SpEKC) to test the relationship between economic growth and the amount of collected mixed municipal waste. The analysis was conducted at the level of sixty-six Polish sub-regions. The study contained selected environmental indicators. The dependent variable - the amount of municipal waste generated in kilograms per capita characterized the state of the environment. The GDP per capita in constant prices (as an explanatory variable) presented the level of economic development of the sub-regions. In the empirical part of the research there were used spatial panel data models based on EKCs. It determined the levels of economic development, at which the amount of produced wastes has fallen or increased, depending on the wealth of the region. The application of different types of spatial weight matrices was an important element of this modelling. Data obtained the years 2005-2012. Models were estimated in the RCran package.

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Beta Convergence among Former Socialist Countries

Abstract

The aim of this paper is to analyze the convergence process among former Socialist countries, the Central and Eastern European (CEE), Western Balkan and Eastern Partnership countries. The relationships between the selected macroeconomic variables and per capita GDP growth rate are econometrically tested to support this research. The analyzed period is 2004-2016, with two sub-periods; 2004-2008 and 2009-2013. The subdivision is made to test if the recent financial crisis affected the absolute and conditional convergence process. The empirical findings support the economic convergence hypothesis. The results show that the recent financial crisis negatively affected only the absolute convergence process. The negative effects of the crisis on conditional convergence are not identified. The poorer countries in the analyzed group should do more to attract investment, as gross fixed capital formation has a clear positive impact on per capita growth in the examined sample of countries.

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Developing a Model for Forecasting Road Traffic Accident (RTA) Fatalities in Yemen

Abstract

The aim of this paper is to develop a model for forecasting RTA fatalities in Yemen. The yearly fatalities was modeled as the dependent variable, while the number of independent variables included the population, number of vehicles, GNP, GDP and Real GDP per capita. It was determined that all these variables are highly correlated with the correlation coefficient (r ≈ 0.9); in order to avoid multicollinearity in the model, a single variable with the highest r value was selected (real GDP per capita). A simple regression model was developed; the model was very good (R2=0.916); however, the residuals were serially correlated. The Prais-Winsten procedure was used to overcome this violation of the regression assumption. The data for a 20-year period from 1991-2010 were analyzed to build the model; the model was validated by using data for the years 2011-2013; the historical fit for the period 1991 - 2011 was very good. Also, the validation for 2011-2013 proved accurate.

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Urgency and Development Priorities of Lifelong Learning in Latvia

Abstract

Based on the indicator of GDP per capita and the plan of business environment improvement measures, the urgency of developing lifelong learning in Latvia is analysed. Changes in the educational level of residents and in the education of employed individuals and job seekers in the period 2006-2010 are researched. The experts’ evaluation of the lifelong learning development alternative in Latvia was carried out using Analytic Hierarchy Process. The conclusions indicate that primarily the establishment of the lifelong education system in companies (priority assessment vector 0.322) should be developed.

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Measurability of Social Development. Reflections on the Applicability of Social Progress Indices with Reference to Brexit

Abstract

The question is how the global and local economic actors’ innovation-based local social and environmental objectives and results can modify the social cohesion strategies, how the disparities in economic and social development can be measured and evaluated at regional level in addition to a comparison across countries. We have seen that any one indicator in itself is not enough since it does not provide sufficient explanation for either the development disparities or their reasons. Anyway, in addition to GDP per capita, it is worth applying - and it is important to apply - such indicators as SPI and Well-Being, and various indices of social progress.

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The FDI-Growth Nexus in South Africa: A Re-Examination Using Quantile Regression Approach

Abstract

This study sought to contribute to the growing empirical literature by investigating the effects of FDI on per capita GDP growth for South Africa using time series data collected between 1970 and 2016. Compared to the majority of previous studies, we use quantile regressions which investigates the effects of FDI on economic growth at different distributional quantiles. Puzzling enough, the empirical results show that FDI has a negative influence on welfare at extremely low quantiles whereas at other levels this effect turns insignificant. Contrary, the effects of domestic investment on welfare is positive and significant at all levels. Collectively, these results have important implications for policymakers in South Africa.

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Macroprudential Policies and Economic Growth

xtabond2: An introduction to “Difference” and “System” GMM in Stata.” Center for Global Development Working Paper No. 103. 21. Sanchez, A., & Rohn, O. (2016). How do policies influence GDP tail risks? OECD Economics Department Working Paper, No. 1339. 22. Slovik, P., & Cournede, B. (2011). Macroeconomic impact of Basel III. OECD Working Papers No. 844.

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Human Capital Development and Macroeconomic Performance in Nigeria: An Autoregressive Distributed Lag (ARDL) Approach

Abstract

While developed and most developing nations have seen the need and continue to invest heavily in the development and training of her manpower as shown by huge budgetary allocations to education and health, Nigeria continues to play politics with her human capital development policy which has been poor and only been effective on paper despite the huge outlay of human capital available at our disposal. This study therefore examined the impact of human capital development on the macroeconomic performance of Nigeria. Using autoregressive distributed lagged model, the study proxied human capital development using government expenditure on education, government expenditure on health, secondary school enrolment rate, and school enrolment rate at tertiary level, while per capita GDP was used as proxy variable for measuring macroeconomic performance.

The results of the estimated short and long run ARDL models indicated, an insignificant and negative relationship between human capital development and gross domestic product per capita (GDPPC) in the short run. Another result of this study is that, only tertiary enrolment rate (TER) has a significant and positive impact on gross domestic product per capita (GDPPC). This finding was an indication of relatively good but insufficient efforts by government to boost human capital. The study concluded that while human capital development is crucial for accelerated macroeconomic performance, government efforts aimed at boosting human capital has had a depressing effect on macroeconomic performance. On the strength of this, the study recommended that government and economic policy makers in Nigeria should place greater emphasis on human capital development.

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Development Assistance and Poverty Reduction in Central Asia

Abstract

This article deals with official development assistance (ODA) in Central Asia and with relation of the ODA to the Millennium Development Goals. We look at present development in the sphere of poverty reduction and also at dependence between ODA and GDP growth in a selected country - Kyrgyzstan. ODA per capita and several other indicators are highest in Kyrgyzstan and Tajikistan. The time series using poverty ratio indicators for Kyrgyzstan shows that between 2004 and 2011 there was a decline in the percentage of population under the poverty line. The trend generated using analogous time series for Kazakhstan and Tajikistan is similar. However, the internal situation in the region of interest is unstable. The dependence between ODA and GDP growth apparently does not exist in the region of interest. Further aid would be appropriate to focus on development projects’ themes already successfully conducted in selected areas and selected social groups.

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