Economic Growth

This study complements existing literature by examining the nexus between energy consumption (EC), CO2 emissions (CE) and economic growth (GDP) in 24 African countries using a panel ARDL approach. The following findings are established. First, there is a long run relationship between EC, CE and GDP. Second, a long term effect from CE to GDP and EC is apparent, with reciprocal paths. Third, the error correction mechanisms are consistently stable. However, in cases of disequilibrium only EC can be significantly adjusted to its long run relationship. Fourth, there is a long-run causality running from GDP and CE to EC. Fifth, we find causality running from either CE or both CE and EC to GDP and inverse causal paths are observable. Causality from EC to GDP is not strong, which supports the conservative hypothesis. Sixth, the causal direction from EC to GDP remains unobservable in the short term. By contrast, the opposite path is observable. There are also no short-run causalities from GDP, or EC, or EC and GDP to EC. Policy implications are discussed.

Book Edited by Augustin K. Fosu
Routledge Studies in Development Economics, 2015, pp. 393 (Hardcover).


Reviewed by Simplice A. Asongu
African Governance and Development Institute
P.O. Box 8413, Yaoundé, Cameroon.
E-mail: asongusimplice@yahoo.com

The objective of this paper is to identify the contributions of capital stock, labor input and technological progress to Bulgaria’s economic growth under a Currency Board Arrangement. In order to accomplish the goal of the article, a growth accounting approach based on a two-factor Cobb-Douglas production function is employed. The results obtained imply that the total factor productivity and capital stock have been the main supply-side determinants of economic growth in Bulgaria under a CBA while the influence of changes in employment on the dynamics of real GDP has been weaker than the influence of the other two factors. The dynamics of the total factor productivity under a CBA has been rather chaotic, which is a result of the inconsistent development of the transition to a market-oriented economy in Bulgaria. The growth problems of Bulgarian economy are complex and difficult to solve. Their successful resolution requires a combination of short-term measures to stimulate aggregate demand and long-term actions to affect aggregate supply.
The paper is elaborated under the project No SRP-C1/15 “Increasing the Attractiveness of Scientific Careers for Young People”.

A dynamic microeconomic model is presented that establishes the price and unit sales evolution of heterogeneous goods consisting of successive homogenous product generations. It suggests that for a fast growing supply the mean price of the generations are governed by a logistic decline towards a floor price. It is shown that generations of a heterogeneous good are in mutual competition. Their market shares are therefore governed by a Fisher-Pry law while the total unit sales are governed by the lifecycle dynamics of the good. As a result the absolute unit sales of a generation exhibit a characteristic sales peak consisting of a rapid increase followed by a long tail.
The presented approach shows that the evolution of successive product generations can be understood as an evolutionary adaptation process. The applicability of the model is confirmed by a comparison with empirical investigations on successive DRAM generations.

The specific objective of this study to make the understanding concerning what role government has to perform in order to nurture and groom entrepreneurs, the hurdles and complications entrepreneurs had come across, the means by which the government had control these problems, and the sources of government help accessible to entrepreneurs, so as to increase entrepreneurs&enlarge the prospects for the bright & innovative ideas and boost up the economy of a country. The economic growth of any nation can gear-up through entrepreneurship and innovative ideas. The industrial health of a society depends on the level of entrepreneurs exists in it. Cultivating of entrepreneurs (dependent variable) and the societal factors (independent variable) including political stability and government strategies is the main concern of focus in this study.

En los últimos meses han aumentado el número de comunas registradas y con esto la cantidad de recursos asignados a las mismas para que puedan funcionar. Si bien este es un intento de cambiar las relaciones de producción poniendo en manos del pueblo organizado los medios de producción, se nos presentan varias interrogantes: ¿Son las comunas la solución?, ¿Son realmente productivas?, ¿Son estas expresiones de un proceso socialista?

This study provides evidence on the role of financial development in accounting for economic growth in low-, middle-, and high-income countries. Using panel data from 1991 to 2011, we conduct panel regression to examine whether the relationship between banks, stock markets, and economic growth differs across income levels, and to identify the channels through which financial development affects economic growth. The empirical evidence suggests that, in low- and middle-income countries, banking development has a positive impact on economic growth. However, contrary to the conventional findings, the impact is negative in high-income countries. Moreover, stock market development and economic growth are positively associated in both middle- and high-income countries. Therefore, it seems that a well-functioning financial system may not always be a sufficient condition to achieve economic growth in high-income countries, while it promotes economic growth in developing countries.

Abstract
The study examines the impact of agriculture on economic growth in Nigeria from 1980 to 2014. Agriculture played a dominant role in the economic growth of the country, providing employment opportunity, raw materials for industries and providing foreign exchange earnings for the country. Though little emphasis was placed on agricultural productivity in the advent of crude oil, the impact of agriculture on economic growth has been significant. The study therefore examines some policy programs designed to improve agricultural productivity at did a contemporary review of agricultural contribution to economic growth.

Sani Numa Emmanuel
(Brics International Resource Solutions)
Call/Whatsapp/SMS: +2347068180074

ABSTRACT

All over the world, youth unemployment has been a challenge to national development. The effect of this includes high crime rate, insecurity, youth restiveness, and loss of economic development. Finding a panacea to this major problem has led many nations to create different strategies to engage their youths as well as improve their standard of living. Most developing countries have encouraged Small Scale Businesses, creation of entrepreneurial skills and other empowerment programs to engage the labour force.

However, the situation seems getting out of control in Nigeria as the number of youths in the labour market continues to grow at a geometric level. The impact of the government is quite unnoticeable relative to the bourgeoning labour force. In fact, many of the youth has lost hope of employment from government and are resolving to other legitimate means of making a living.

This paper explores how self-employment can be very imperative to expand employment opportunities for the youths vis-à-vis other methods.

Key words: Unemployment, Youth, Self-employment, Nigeria and Expanding Employment

Fish stocking density, feed quality, and tank color were evaluated for their effects on survival of larval Marble Goby Oxyeleotris marmorata reared at 5-g/L salinity for 30 d. Feed quality was examined in terms of proximate composition and fatty acid profile. Fish larvae were given rotifers and brine shrimp Artemia spp. nauplii (R-A) that were fed condensed cells of the phototrophic bacterium Rhodovulum sulfidophilum (bPB) cultured in palm oil mill effluent (POME); under this feeding regime, fish stocked at a density of 15 larvae/L had significantly higher survival (42.0%) than those stocked at 20 larvae/L (33.5%) or 30 larvae/L (9.9%). At the best stocking density of 15 larvae/L, fish survival and growth were further improved when the larvae received either R-A that were fed the whole culture broth of unsettled bacteria (cPB; survival = 60.9%) or R-A that were fed POME (survival = 58.6%). Under similar rearing conditions, larvae reared in gray-colored tanks showed still further significant improvement in survival (79.0%) relative to larvae that were reared in black tanks (32.5%) or transparent tanks (0.7%). Thus, optimal culture conditions for larval survival (71.4-81.9%) included rearing in gray culture tanks, stocking at 15 larvae/L, and a diet of R-A that were fed cPB or bPB. Under those optimal conditions, survival during the critical larval period (first 10 d posthatch; 91.4-95.7%) was significantly improved. An approximate 2: 2: 1 dietary ratio of docosahexaenoic acid : eicosapentaenoic acid : arachidonic acid as compared to a fish tissue ratio of 7: 2: 1 is recommended to improve the survival and production of Marble Goby larvae.

Link to Full-Text Articles :
http://www.tandfonline.com/doi/pdf/10.1080/15222055.2014.987932
http://www.ingentaconnect.com/content/tandf/naja/2015/00000077/00000002/art00005 

The economic growth in large developing countries (China, India, Brazil, Mexico, etc.), based on the interaction with other countries (trade, technology transfer and migration), in theory and in practice is accompanied by a sharp increase in regional differentiation. Regions-exporters, as well as regions with an advantageous geographical position (border and coastal regions) have higher rates of growth, and they eventually achieve higher levels of development.
In Russia, the 2000s was a period of rapid economic growth, based on export of raw materials, food and weapons. The growth increased regional disparities, but unlike many developing countries, an effective system of inter-regional equalization was established in Russia due to the tax and budget reforms.
The purpose of the paper was to identify the main factors of economic development of the Russian regions, especially in international context.