What is the long run growth rate of the East Asian Tigers?

Rao, B. Bhaskara; Tamazian, Artur; Singh, Rup

doi:10.1080/00036840902845400

Cited by 7 publications

(3 citation statements)

References 7 publications

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“…In the long run, the capital stock and output per capita are positively related. On average, the share of capital stock is 0.33, which is in line with stylized values for developing countries (Rao et al, 2010). This finding is supplemented by our initial result in Table 6 where the capital stock has a significant positive correlation with output.…”

Section: Resultssupporting

confidence: 81%

Tourism and Economic Growth Nexus in Maldives: Asymmetric Analysis and Role of ICT

Jayaraman

Makun

2022

IJBS

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The relentless spread of the Covid-19 pandemic, which began in the first quarter of 2020, aided by the periodical emergence of new variants, is continuing to inflict unprecedented damages on the global economy. Interruptions in international travel have led to the collapse of the tourism-related service industry, which is the backbone of the economies of many small islands and developing states. This paper focuses on the Maldives, an island nation in the Indian Ocean, which is one of the top ten most tourism-dependent economies. Adopting the Solow production function, the paper examines the tourism and economic growth relationship using nonlinear autoregressive distributed lag (NARDL) methodology. The analysis shows that tourism earnings and economic growth have a significant asymmetric relationship. The result further reveals that the magnitude of the negative impact of the decline of a given size in tourism earnings on growth is of much larger magnitude than that of the positive impact of the same size rise in tourism earnings. The negative impact of tourism is found to be more pronounced in the long run. ICT spread, measured by the rise in mobile subscriptions, is positively associated with growth and has emerged as a significant contingent factor. We suggest policy measures to step up the recovery progress and growth.

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Section: Resultssupporting

confidence: 81%

Tourism and Economic Growth Nexus in Maldives: Asymmetric Analysis and Role of ICT

Jayaraman

Makun

2022

IJBS

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“…Therefore, we express TFP as a function of FD and other factors (𝑋 𝑜 ), such as institutional development, and establishment of an efficient business and market environment, following Badeeb et al (2016), Nawaz et al (2019), and Krinichansky and Sergi (2019), Rao et al (2008). Although one should expect a positive impact of FD on TFP, i.e., 𝛼 > 0 (e.g., King and Levine, 1993;Benhabib and Spiegel, 2000;Arizala et al, 2013), a number of studies have found a negative effect as well, i.e., 𝛼 < 0 (e.g., Bolbol et al, 2005;Han and Shen, 2015;Nanda and Rhodes-Kropf, 2016;Ge et al, 2018;Li and Liao, 2020;Lv et al 2021;Yang and Ni, 2022).…”

Section: Theoretical Framework and Empirical Modelmentioning

confidence: 99%

Analyzing CO2 Emissions Effect of Financial Development while Accounting for Common Factors in the GCC. Is the Effect Asymmetric?

Hasanov,

Shannak,

Mukhtarov

et al. 2023

Preprint

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Ignoring common factors can lead to erroneous findings and misleading policy recommendations, according to panel time-series literature. The same consequences occur if the nature of a factor’s effects is incorrectly considered. We investigated CO2 emission effects of financial development (FD) alongside income and international trade in Gulf Cooperation Council (GCC) countries. The Asymmetric Pooled Mean Group augmented with common unobserved factors - a cutting-edge method allowing to discover not only the features of the pooled panel but also the characteristics of each country - was applied to data for 1992–2021. There is no such application for GCC countries, and only one internationally to our knowledge. We show that accounting for factors common to GCC countries is important, as ignoring them makes the CO2 emissions effects of FD flawed. The effects are asymmetric: upturn of FD leads to lower emissions than its downturn. Another key finding is that CO2 emissions in GCC countries may converge to an identical relationship. In designing CO2 emissions mitigation policies, the following points should be considered: directing financial resources toward eco-friendly technologies, energy transitions, and sectors; accounting for global and regional common factors; close cooperation across the region countries due to common factors and convergence.

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“…Specifically, from the perspective of economics, factor inputs and total factor productivity (TFP) are the potential sources of economic growth. And, they drive growth by factor accumulation and TFPG, respectively (Park, 2012; Rao et al , 2010; Van Leeuwen et al , 2017). In this analytical framework, looking carefully at the growth of China's construction industry post-WTO accession, TFPG seems to be the main source according to its presentation in production practice.…”

Section: Introductionmentioning

confidence: 99%

Total factor productivity growth and its decomposition in the Chinese construction industry since China's accession to the World Trade Organization

Wang

Zheng

et al. 2021

ECAM

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PurposeSince China's accession of the World Trade Organization (WTO), its construction industry has attained unprecedented growth. However, for the sources of this enormous growth, a controversy regarding the total factor productivity growth (TFPG) still remains in production practice and extant studies. In view of this, the purpose of this paper is to measure TFPG and to explore its sources in the industry post-WTO accession.Design/methodology/approachThis study presents an innovative source analysis of TFPG. Stochastic frontier approach is adopted to measure TFPG and to explore its sources by decomposing TFPG into technical progress (TP), technical efficiency change (TEC), allocative efficiency change (AEC) and scale efficiency change (SEC). Although China joined WTO in 2001, to provide an effective baseline, the study period is from 2000 to 2017.FindingsThe empirical results reveal that TFPG presented an overall downward evolutionary trend, but it still maintained a high growth post-WTO accession. From the perspective of decomposition, TP was the main source of TFPG. Furthermore, as a neglected source, interaction effects among TP, TEC, AEC and SEC have been demonstrated to have a significant influence on the cumulative TFPG.Practical implicationsTo make the results be reliable, the authors discuss the empirical findings mainly by revealing the reasons behind the evolutions of TFPG and its sources. Based on these revealed reasons, government and policy makers can further refine and summarize some more detailed and targeted policy implications to improve TFPG.Originality/valueBy providing many empirical evidences to solve the aforesaid TFPG controversy, this paper, therefore, enriches the body of knowledge on growth theories, especially at the level of industrial economics.

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What is the long run growth rate of the East Asian Tigers?

Cited by 7 publications

References 7 publications

Tourism and Economic Growth Nexus in Maldives: Asymmetric Analysis and Role of ICT

Tourism and Economic Growth Nexus in Maldives: Asymmetric Analysis and Role of ICT

Analyzing CO2 Emissions Effect of Financial Development while Accounting for Common Factors in the GCC. Is the Effect Asymmetric?

Total factor productivity growth and its decomposition in the Chinese construction industry since China's accession to the World Trade Organization

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