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Economic Growth and Environmental Quality in the European Union Countries – Is there Evidence for the Environmental Kuznets Curve?

., Krueger, A. B. (1991), Environmental impacts of a North American free trade agreement, Working Paper, 3914, National Bureau of Economic Research. Grossman, G. M., Krueger, A. B. (1993), Environmental impacts of the North American free trade agreement, in Peter Garber (ed.), The U. S.‑Mexico Free Trade Agreement, MIT Press, Cambridge. Hannesson, R. (2009), Energy and GDP growth, International Journal of Energy Sector Management, 3 (2), pp. 157-170. Hausman, J. A. (1978), Specification tests in econometrics, Econometrica, 46

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The Role of Cohesion Policy in the Development of Romania

Abstract

Cohesion is a common European value. The E.U.’s cohesion policy is and will remain an essential financing instrument for various multiannual development programs, for both member states and regions. This policy contributes to the development of the European Union, by reducing disparities between regions, generating jobs and increasing GDP per capita. The current paper aims to highlight several accomplishments and failings of the current cohesion policy, with a particular focus on post-2007 Romania, as well as taking a look at the future policy, envisioned for 2021 - 2027. The cohesion fund is making investments in areas such as digital infrastructure, innovation, combating climate change, ecological transition, energy, health and others. The main criterion on which this kind of financing is made is GDP per capita; however, other criteria have been added as well: youth unemployment, level of education, climate change and likely, migrant integration, in the near future. The European Commission proposes that, for the next multiannual financial framework, namely 2021 - 2027, local authorities become more involved in managing E.U. funds, particularly cohesion funds. Several new elements have been identified, for this following time frame, which will contribute to the modernization of the cohesion policy; they include investments across all regions, making them more accessible to E.U. citizens, making it more adapted to regional development and linking it to the European semester.

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Diversity of education systems in the European Union

, Sweden, and Slovenia High enrollment ratio and high employment rate of graduates, very large number adults in Lifelong Learning (LLL), highest expenditures per capita in relation to GDP Italy, Spain, and Portugal High enrollment in tertiary education and – at the same time – high proportion of low-qualified population, participation in LLL lower than in cluster 1, but higher than in 3 and 4 Belgium, Lithuania, Latvia, Estonia, France, Greece, Ireland, Luxembourg, Hungary, and Romania Fewer participants in VET and LLL than average, spending on

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Modern interregional migration: evidence from Japan and Poland

migration in Indonesia [ Wajdi et al., 2017 ]. That study proves that income or economic development indicator, expressed by GDP per capita, is positively related to a concentration of population and that distance has a negative impact on migration flows. Moreover, population size at the destination turns out to be positive and statistically significant. The case of Indonesia shows that economic development in regions of origin triggers migration toward more developed regions [ Wajdi et al., 2017 , pp. 322–323]. Interestingly, interregional migration in Korea has been

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Investigating the effect of governance on unemployment: a case of South Asian countries

unemployment rate in South Asian countries? 2 Literature Review 2.1 Related studies The concept of governance has been debated in recent years by the researchers. Governance is linked to development and economic growth. Economic growth is the main concern of the general public in the time of stability and in the time of crisis. Kaufmann et al. [2002] investigated positive relationship among per capita income and good governance in the case of developing and also developed countries. Chatterjee et al. [2006] explored that poor institutional quality and the

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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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Determinants of FDI in BRICS Countries: Panel Data Approach

Abstract

We empirically investigates the factors that affect Foreign Direct Investment (FDI) inflows in five BRICS countries for the period 1990–2015. We address the selection bias and unobserved heterogeneity by estimating a panel Heckman selection method and attempts to account for both selection and endogeneity within the new two-stage method. After addressing the above mentioned econometric issues, the infrastructure and GDP per capita variables under the new two-stage method remain positive and significantly similar to the coefficient of infrastructure and GDP per capita under the panel Heckman selection model. In addition, the inverse Mills ratio maintain its level of statistical significance, confirming the presence of both sample selection bias and endogeneity.

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Comparative Price Levels of New EU Member Countries

Abstract

This article analyzes comparative price levels of 10 new EU member countries from Central, East, and South-East Europe and discusses their main determinants. A comparison of comparative price levels is logically followed by a comparison of relative GDP per capita in purchasing power parities. Further, the Balassa-Samuelson efect is theoretically explained and empirically tested using a sample of EU27 countries (excluding Luxemburg). The results of simple regression analysis confrm that diferences in comparative price levels can be explained by the diferences in relative GDP per capita in purchasing power parities. Besides the Balassa-Samuelson efect there are, however, many other factors that have an impact on comparative price levels. Tey are related to the lower competitiveness of domestic companies on international markets as the result of such factors as a lower quality of production, inefcient organizational structures and management styles, insufcient marketing and business skills, or a poor approach to international distribution channels.

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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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Generation of Tax Revenues and Economic Development: A Panel-Analysis for Emerging Economies in Asia

Abstract

Particularly in an emerging or developing economy context, generating sufficient tax revenues is essential for the provision and upkeep of well-needed public infrastructure/public capital that supports the development process. However, tax policy can also cause distortionary and negative effects to economic activity and growth, especially if excessive taxation is imposed. The aim of this paper is to examine the role of tax revenues and estimate its overall net impact on economic growth in emerging economies in Asia. The dataset covers emerging economies from South, Southeast, and East Asia during 1998-2015. The results show that tax revenues have an overall positive net impact on the growth rate of real GDP per capita, suggesting the positive effects associated with taxation outweigh the negative and distortionary effects of taxation. Thus, evidence is found that the collection of adequate amounts of tax revenues (with which public investments were financed) contributed significantly to economic development.

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