Does Demographic Transition with Human Capital Dynamics Matter for Economic Growth? A Dynamic Panel Data Approach to GMM

Ahmad, Munir; Khan, Rana Ejaz Ali

doi:10.1007/s11205-018-1928-x

Cited by 58 publications

(43 citation statements)

References 25 publications

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“…The study deals with local economic challenges and shows such dissimilar responses on the basis of structural variations and human capital capabilities. Ahmad and Khan [6] examined the association between human capital and economic performance. Kottaridi and Stengos [37] also determined the nonlinear impact of human capital on economic performance.…”

Section: Literature Reviewmentioning

confidence: 99%

“…In particular, scientists were very successful in empirical studies focusing on the link between energy, environment, and economic nexus, with varied outcomes. Former research topics addressing the causal associations of energy, economic performance, and ecology might be categorized into the following seven groups: (i) renewable energy generation and economic performance [2], (ii) energy use and economic performance [3], (iii) renewable and non-renewable energy consumption along with economic performance [4], (iv) energy use and urban ecological sustainability [5], (v) human capital and economic performance [6], (vi) economic performance, energy usage, power excess, and growth of population [7], and (vii) energy, economic performance, and human capital at the same time [8]. These groups of researches, though in broad spectrum, were based on bivariate association without any distinction on the basis of nature of relationship as well as direction of linkages.…”

Section: Introductionmentioning

confidence: 99%

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Analyzing long-term empirical interactions between renewable energy generation, energy use, human capital, and economic performance in Pakistan

Fatima

Ahmad

et al. 2019

Energ Sustain Soc

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Background: The current research attempts to systematically investigate the causal interactions between renewable energy generation, aggregated energy use, human capital, and economic performance in Pakistan both in a short-term and long-term test for the period of 1990-2016. Methods: As a primary step, a unit root analysis was conducted employing, among others, an augmented Dickey-Fuller-generalized least squares (ADF-GLS) test. Based on the order of integration I(1), the Johansen and Juselius (JJ) co-integration testing was employed to confirm a long-term causality analysis, which was followed by a vector error correction model (VECM) to calculate the short-run Granger causality analysis. Furthermore, the vector autoregressive (VAR)-based Cholesky test allowed the standard deviation impulse response functions to be generated to explain the responses of variables to arbitrary shocks in the data series under analysis. Results: The empirical findings unearthed the bilateral causal connection between aggregated energy use and economic performance, renewable energy generation and economic performance, and human capital and economic performance. Thus, it confirmed the existence of feedback effects for aggregated energy use, renewable energy generation, and human capital in their relation to economic performance. Likewise, a unilateral positive causal connection was revealed running from renewable energy generation and human capital to aggregated energy use, and from human capital to renewable energy generation in both a long-term and short-term test. Additionally, the causal association running from aggregated energy use and renewable energy generation to economic performance was exposed in a long-term as well as short-term test, hence supporting the growth hypothesis. Conclusions: The findings signified the importance of an enhanced generation of renewable energy along with the promotion of an aggregated energy use for the economic performance in Pakistan.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Analyzing long-term empirical interactions between renewable energy generation, energy use, human capital, and economic performance in Pakistan

Fatima

Ahmad

et al. 2019

Energ Sustain Soc

Self Cite

View full text Add to dashboard Cite

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“…The savings channel is a critical indirect channel. Population ageing can affect economic growth by influencing savings [4][5][6] and savings-investment conversion.…”

Section: The Impact Of Population Ageing On Economic Growthmentioning

confidence: 99%

“…This indicator is calculated according to: (a) the schooling years of 0, 6, 9, 12 and 16 converted from illiterate, primary school diploma, junior high school diploma, high school diploma and college diploma and above respectively and (b) the ratio of persons aged 6 and over with corresponding educational attainment to the total population aged 6 and over; (3) fixed capital investment (denoted by FCF), measured with fixed capital formation rate [43]. This indicator is calculated as the ratio of the gross fixed capital formation to GDP; (4) government final consumption expenditure (denoted by GF), measured with the ratio of the total government final consumption expenditure to GDP [44]; (5) foreign trade (denoted by TRA), measured with the ratio of the total import and export of goods to GDP [6]; and (6) total population (denoted by POP) [43], measured with the total population at the end of the year. The data of these control variables are from China Statistical Yearbook as well as China Population and Employment Statistics Yearbook.…”

Section: Datamentioning

confidence: 99%

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Population Ageing, Financial Deepening and Economic Growth: Evidence from China

Zhao

Yang

2018

Sustainability

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Using a panel of 31 Chinese provinces from 2000 to 2016, we investigated the impact of population ageing and financial deepening on economic growth. Based on the dynamic panel system GMM estimators, the empirical results address that both population ageing and financial deepening have a significantly positive impact on economic growth, while the interactions between them have a significantly negative effect on economic growth. From the perspective of total marginal effect, we also find that population ageing does contribute to economic growth but only when financial deepening is less than a threshold level; however, on the whole, financial deepening has an inhibitory effect on economic growth which increases with population ageing.

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The influence of carbon performance on the financial debt of listed companies in an emerging economy: Does company size matter?

Ganda

2021

Bus Strat Dev

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This paper analyses the extent to which the impact of carbon performance on corporate financial debt varies according to company size. The system Generalized Method of Moments (GMM) and the Fixed Effects Panel Threshold regression models are deployed to consider 107 South African listed companies (CDP South Africa) spanning the period 2014–2018. The GMM outcomes demonstrate that carbon performance is negatively significant to firm financial debt in all the regression equations in the short‐run settings (both with and without interaction terms) and the long‐run setting (except for the ROA regression without interaction term, which is just negative). Moreover, the interaction term, carbon performance × company size is also significant and negatively related to debt in short‐run contexts (except for the ROA regression with an interaction term that is just negative) for all equations. In the long run, the interaction term is also significant and negatively related to debt in all the regressions analysed in this paper. The panel threshold regression framework highlights a threshold level of 7.4268 below (above) which the financial debt of small (large) companies, decreases (increases) when carbon performance increases. Granger causality findings and policy suggestions are also presented.

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Does Demographic Transition with Human Capital Dynamics Matter for Economic Growth? A Dynamic Panel Data Approach to GMM

Cited by 58 publications

References 25 publications

Analyzing long-term empirical interactions between renewable energy generation, energy use, human capital, and economic performance in Pakistan

Analyzing long-term empirical interactions between renewable energy generation, energy use, human capital, and economic performance in Pakistan

Population Ageing, Financial Deepening and Economic Growth: Evidence from China

The influence of carbon performance on the financial debt of listed companies in an emerging economy: Does company size matter?

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