Real Economic Convergence and the Impact of Monetary Policy on Economic Growth of the EU Countries: The Analysis of Time Stability and the Identification of Major Turning Points Based on the Bayesian Methods

Nwachukwu

2018

German Economic Review

This paper models the feasibility of common policy initiatives against global terrorism, as well as timelines for their enforcement. The empirical evidence is based on 78 developing countries for the period 1984–2008. Domestic, transnational, unclear and total terrorism variables are used. Absolute (or unconditional) and conditional catch‐ups are estimated using Generalised Method of Moments. We establish consistently that, the rate of catch‐up is higher in domestic terrorism relative to transnational terrorism. The time to full catch‐up required for the implementation of common policies without distinction of nationality is found to be in a horizon of 13–20 years for domestic terrorism and 24–28 years for transnational terrorism. Hence, from a projection date of 2009, in spite of decreasing cross‐country differences in terrorists’ attacks, there is still a long way to go before feasible common policy initiatives can be fully implemented without distinction of nationality. The paper is original by its contribution to the empirics of conflict resolution through decreasing cross‐country differences in terrorism tendencies. Policy implications are discussed.

“…For clarity and simplicity, a could be reported instead of β and the underlying information criterion (

0 < |a| < 1

) used to establish the presence of catch‐up. This latter interpretation is consistent with recent convergence literature (Prochniak and Witkowski, ; p. 20; Prochniak and Witkowski, , p. 23).…”

Section: Methodssupporting

confidence: 92%

Fighting Terrorism: Empirics on Policy Harmonisation

Nwachukwu

2018

German Economic Review

“…used to determine convergence. This interpretation is consistent with recent convergence literature (Asongu, 2012(Asongu, , 2013aProchniak andWitkowski, 2012a:20, 2012b:23).…”

Section: Model and Estimation Approachsupporting

confidence: 92%

African Development: Beyond Income Convergence

South African J Economics

2013

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractIn examining some big questions on African development, we provide evidence that dynamics of some development indicators could support both endogenous and neoclassical growth theories in the convergence debate. This paper investigates convergence in real per capita GDP and inequality adjusted human development in 38 African countries, disaggregated into 10 homogenous panels based on regions (Sub-Saharan and North Africa), income-levels (low, middle, lower-middle and upper-middle), legal-origins (English common-law and French civil-law) and religious dominations (Christianity and Islam). The main finding is that the income component of the human development index moves slower than others in the convergence process and thus requires a more focused policy intervention. As a policy implication, looking beyond income convergence can provide a concrete agenda for development involving all aspects of economic, institutional and social life.

“…Within this alternative framework, the information criterion for catch‐up is established if β < 0. Otherwise, the estimated lagged dependent variable could also be reported and the alternative criterion (“0 < lagged value < 1”) used to assess catch‐up (see Prochniak & Witkowski, , p. 20; Prochniak & Witkowski, , p. 23).…”

Section: Resultsmentioning

confidence: 99%

Comparative sustainable development in sub‐Saharan Africa

Sustainable Development

2018

Motivated by sustainable development challenges in sub‐Saharan Africa, this study assesses the comparative persistence of environmental unsustainability in a sample of 44 countries in the subregion for the period 2000–2012. The empirical evidence is based on Generalized Method of Moments. Of the six hypotheses tested, it is not feasible to assess the hypothesis on resource‐wealth because of issues in the degrees of freedom. For the remaining hypotheses, the following findings are established. (i) Hypothesis 1 postulating that middle‐income countries have a lower level of persistence in carbon dioxide (CO2) emissions is valid for CO2 per‐capita emissions, CO2 emissions from electricity and heat production and CO2 emissions from liquid fuel consumption. (ii) Hypothesis 2 that countries on the edge of French civil law is valid for CO2 emissions from liquid fuel consumption and CO2 intensity, but not for CO2 per‐capita emissions. (iii) Hypothesis 3 on the postulation that politically unstable countries reflect more persistence is valid for CO2 per‐capita emissions. (iv) Hypothesis 5 on the propensity for landlocked countries to be associated with more persistence in CO2 emissions is valid for CO2 per‐capita emissions but not for CO2 emissions from liquid fuel consumption. (v) Hypothesis 6 maintaining that Christianity‐dominated countries are more environmentally friendly with regard to CO2 emissions is valid for CO2 per‐capita emissions but not for CO2 emissions from liquid fuel consumption and CO2 intensity. Implications for policy and theory are discussed.