Search results for: output growth

Authors: A. Bolaji Adesoye, Alimi Olorunfemi

Abstract:

This paper examines the impact of small and medium-scale enterprises (SMEs) credit financing and financial market development and their shocks on the output growth of Nigeria. The study estimated a VAR model for Nigeria using 1970-2013 annual data series. Unit root tests and cointegration are carried out. The study also explores IRFs and FEVDs in a system that includes output, commercial bank loan to SMEs, domestic credit to private sector by banks, money supply, lending rate and investment. Findings suggest that shocks in commercial bank credit to SMEs has a major impact on the output changes of Nigeria. Money supply shocks also have a sizeable impact on output growth variations amidst other financial instruments. Lastly, neutrality of investment does not hold in Nigeria as it also has impact on output fluctuations.

Keywords: SMEs financing, financial development, investment, output, Nigeria

Procedia PDF Downloads 379

Authors: B. Seetanah, H. Neeliah

Abstract:

This paper investigates the relationship among energy, emissions and economic growth in Mauritius in the presence of trade activities, with capital and labour as other control variables. Using annual data from 1960 to 2011, it is found that the variables are non-stationary and cointegrated. The relationship among the various variables are thus examined in a dynamic VECM framework. Our empirical results comply with the growth hypothesis. Output elasticities of 0.17, 0.25 and 0.43 show that increases in energy consumption cause increases in economic growth, capital accumulation and trade in the long run. We also found that CO2 negatively affects output, but has no significant effect on trade. Findings for the long-run generally tend to tally with those in the short-run. Interestingly we found that energy consumption has a significant impact on CO2 emissions. Our results tend to suggest that implementing energy conservation strategies to mitigate the negative impact of CO2 emissions can dent economic growth, and that promoting cleaner energy production could be a better alternative for Mauritius.

Keywords: energy, emissions, economic growth, export, VECM

Procedia PDF Downloads 434

Authors: Nazima Ellahi, Danish Ramzan

Abstract:

There is a growing trend among development economists regarding the importance of financial sector for economic development and growth activities. The development thus introduced, helps to promote welfare effects and poverty alleviation. This study is an attempt to find the nature of link between Islamic banking financing and development of output growth for Pakistan. Time series data set has been utilized for a time period ranging from 1990 to 2010. Following the Phillip Perron (PP) and Augmented Dicky Fuller (ADF) test of unit root this study applied Ordinary Least Squares (OLS) method of estimation and found encouraging results in favor of promoting the Islamic banking practices in Pakistan.

Keywords: Islamic finance, poverty alleviation, economic growth, finance, commerce

Procedia PDF Downloads 310

Authors: Vano Benidze, Ioseb Berikashvili

Abstract:

Since 2003, Georgia has implemented many successful reforms, however, economic growth, poverty alleviation and unemployment reduction are still major challenges facing country’s economy. This is due to the fact that most reforms during the past 2 decades were mainly geared toward improving the institutional environment, while economy’s sectoral composition and industrial policy were largely ignored. Each individual sector plays its own specific role in the functioning of the whole economy that cannot be accomplished by any other sector. However, given the unavoidable reality that one sector uses intermediate inputs from other industries to produce its output and sells part of its output to other sectors, the importance of sectors should consider these sectoral interdependencies as well. Simply put, not all industries are equally useful for economic growth and development. In this context, the aim of this paper is to identify the key economic sectors of the Georgian economy. Leontief input-output analysis has been used in deriving backward and forwards linkages for all sectors in the Georgian economy for 2020 and 2021. Sectors with both high backward and forward linkages have been identified as key sectors of the economy. The results obtained are beneficial for the success of the economic and industrial policy of Georgia. If targeted properly by thoughtful policy intervention, key sectors identified in this paper will have a high potential of spreading growth impulses throughout the economy and will possibly generate higher economic growth.

Keywords: structural change, key sectors, development strategies, input-output analysis

Procedia PDF Downloads 51

Authors: Kehinde Damilola Ilesanmi, Dev Datt Tewari

Abstract:

South Africa is in its post-industrial era moving from the primary and secondary sector to the tertiary sector. The study investigated the impact of the disaggregated energy consumption (coal, oil, and electricity) on the primary, secondary and tertiary sectors of the economy between 1980 and 2012 in South Africa. Using vector error correction model, it was established that South Africa is an energy dependent economy, and that energy (especially electricity and oil) is a limiting factor of growth. This implies that implementation of energy conservation policies may hamper economic growth. Output growth is significantly outpacing energy supply, which has necessitated load shedding. To meet up the excess energy demand, there is a need to increase the generating capacity which will necessitate increased investment in the electricity sector as well as strategic steps to increase oil production. There is also need to explore more renewable energy sources, in order to meet the growing energy demand without compromising growth and environmental sustainability. Policy makers should also pursue energy efficiency policies especially at sectoral level of the economy.

Keywords: causality, economic growth, energy consumption, hypothesis, sectoral output

Procedia PDF Downloads 427

Authors: Sobar M. Johari, Ida Putri Anjarsari

Abstract:

In the transmission of monetary instrument towards real sector of the economy, Bank Indonesia as monetary authority has developed Islamic Bank Indonesia Certificate (abbreviated as SBIS) as an instrument in Islamic open market operation. One of the monetary transmission channels could take place through financing channel from which the fund is used as the source of banking financing. This study aims to analyse the impact of Islamic monetary instrument towards output or economic growth. Data used in this research is taken from Bank Indonesia and Central Board of Statistics for the period of January 2008 until December 2015. The study employs Granger Causality Test, Vector Error Correction Model (VECM), Impulse Response Function (IRF) technique and Forecast Error Variance Decomposition (FEVD) as its analytical methods. The results show that, first, the transmission mechanism of banking financing channel are not linked to output. Second, estimation results of VECM show that SBIS, PUAS, and FIN have significant impact in the long term towards output. When there is monetary shock, output or economic growth could be recovered and stabilized in the short term. FEVD results show that Islamic banking financing contributes 1.33 percent to increase economic growth.

Keywords: Islamic monetary instrument, Islamic banking financing channel, economic growth, Vector Error Correction Model (VECM)

Procedia PDF Downloads 243

Authors: Hussain Ali Bekhet, Tuan Ab. Rashid Bin Tuan Abdullah, Tahira Yasmin

Abstract:

The strong relationship between energy consumption and economic growth is widely recognised. Most countries’ energy demand declined during the economic depression known as the Global Financial Crisis (GFC) of 2008–2009. The objective of the current study is to investigate the energy consumption and performance of Malaysia’s manufacturing sectors during the GFC. We applied the output multiplier approach, which is based on the input-output model. Two input-output tables of Malaysia covering 2005 and 2010 were used. The results indicate significant changes in the output multipliers of the manufacturing sectors between 2005 and 2010. Moreover, the energy-to-manufacturing sectors’ output multipliers also decreased during the GFC due to a decline in export-oriented industries during the crisis. The increasing importance of the manufacturing sector to the development of Malaysian trade resulted in a noticeable decrease in the consumption of each energy sector’s output, especially the electricity and gas sector. Based on the research findings, the Malaysian government released several policy implementations in the form of stimulus packages to enhance these sectors’ performance and generally improve the Malaysian economy.

Keywords: global financial crisis, input-output model, manufacturing, output multipliers, energy, Malaysia

Procedia PDF Downloads 698

Authors: S. K. Ashiquer Rahman

Abstract:

The proper policy handling might not able to attain the target since some of recessions, e.g., pandemic-led crises, the variables shocks of the economics. At the level of this situation, the Central bank implements the monetary policy to choose increase the exogenous expenditure and level of money supply consecutively for booster level economic growth, whether the monetary policy is relatively more effective than fiscal policy in altering real output growth of a country or both stand for relatively effective in the direction of output growth of a country. The dispute with reference to the relationship between the monetary policy and fiscal policy is centered on the inflationary penalty of the shortfall financing by the fiscal authority. The latest variables socks of economics as well as the pandemic-led crises, central banks around the world predicted just about a general dilemma in relation to increase rates to face the or decrease rates to sustain the economic movement. Whether the prices hang about fundamentally unaffected, the aggregate demand has also been hold a significantly negative attitude by the outbreak COVID-19 pandemic. To empirically investigate the effects of economics shocks associated COVID-19 pandemic, the paper considers the effectiveness of the monetary policy and fiscal policy that linked to the adjustment mechanism of different economic variables. To examine the effects of economics shock associated COVID-19 pandemic towards the effectiveness of Monetary Policy and Fiscal Policy in the direction of output growth of a Country, this paper uses the Simultaneous equations model under the estimation of Two-Stage Least Squares (2SLS) and Ordinary Least Squares (OLS) Method.

Keywords: IS-LM framework, pandemic. Economics variables shocks, simultaneous equations model, output growth

Procedia PDF Downloads 57

Authors: Ayşen Edirneligil, Mehmet Mucuk

Abstract:

In developing countries, one of the most important restrictions about the economic growth is the lack of national savings which are supposed to finance the investments. In order to overcome this restriction and achieve the higher rate of economic growth by increasing the level of output, countries choose the external borrowing. However, there is a dispute in the literature over the correlation between external debt and economic growth. The aim of this study is to examine the effects of external debt on Turkish economic growth by using VAR analysis with the quarterly data over the period of 2002:01-2014:04. In this respect, Johansen Cointegration Test, Impulse- Response Function and Variance Decomposition Tests will be used for analyses. Empirical findings show that there is no cointegration in the long run.

Keywords: external debt, economic growth, Turkish economy, time series analysis

Procedia PDF Downloads 365

Authors: Shorena Pharjiani

Abstract:

The Present empirical paper investigates the relationship between FDI and economic growth by 10 selected industries in 10 Central and Eastern European countries from the period 1995 to 2012. Different estimation approaches were used to explore the connection between FDI and economic growth, for example OLS, RE, FE with and without time dummies. Obtained empirical results leads to some main consequences: First, the Central and East European countries (CEEC) attracted foreign direct investment, which raised the productivity of industries they entered in. It should be concluded that the linkage between FDI and output growth by industries is positive and significant enough to suggest that foreign firm’s participation enhanced the productivity of the industries they occupied. There had been an endogeneity problem in the regression and fixed effects estimation approach was used which partially corrected the regression analysis in order to make the results less biased. Second, it should be stressed that the results show that time has an important role in making FDI operational for enhancing output growth by industries via total factor productivity. Third, R&D positively affected economic growth and at the same time, it should take some time for research and development to influence economic growth. Fourth, the general trends masked crucial differences at the country level: over the last 20 years, the analysis of the tables and figures at the country level show that the main recipients of FDI of the 11 Central and Eastern European countries were Hungary, Poland and the Czech Republic. The main reason was that these countries had more open door policies for attracting the FDI. Fifth, according to the graphical analysis, while Hungary had the highest FDI inflow in this region, it was not reflected in the GDP growth as much as in other Central and Eastern European countries.

Keywords: central and East European countries (CEEC), economic growth, FDI, panel data

Procedia PDF Downloads 213

Authors: Isah Wada

Abstract:

The current research investigates the role of financial development in an environmental sustainability-energy consumption nexus for OPEC-1 member countries. The empirical findings suggest that financial development increases environmental sustainability but energy consumption and real output expansion diminishes environmental sustainability, generally. Thus, whilst real output and financial development accelerates energy consumption, environmental sustainability quality diminishes clean energy initiatives. Even more so, energy consumption and financial development stimulates real output growth. The result empirically demonstrates that policy advocates must address broader issues relating to financial development whilst seeking to achieve environmental sustainability due largely to energy consumption.

Keywords: energy consumption, environmental sustainability, financial development, OPEC, real output

Procedia PDF Downloads 148

Authors: Bin Li

Abstract:

In the era of the digital economy, digital transformation has gradually become a strategic choice for enterprise development, but there is a relative lack of systematic research from the perspective of enterprise growth. Based on the sample of Chinese A-share listed companies from 2011 to 2021, this paper constructs A digital transformation index system and an enterprise growth composite index to empirically test the impact of enterprise digital transformation on enterprise growth and its mechanism. The results show that digital transformation can significantly promote corporate growth. The mechanism analysis finds that reducing operating costs, optimizing human capital structure, promoting R&D output and improving digital innovation capability play an important intermediary role in the process of digital transformation promoting corporate growth. At the same time, the level of external digital infrastructure and the strength of organizational resilience play a positive moderating role in the process of corporate digital transformation promoting corporate growth. In addition, while further analyzing the heterogeneity of enterprises, this paper further deepens the analysis of the driving factors and digital technology support of digital transformation, as well as the three dimensions of enterprise growth, thus deepening the research depth of enterprise digital transformation.

Keywords: digital transformation, enterprise growth, digital technology, digital infrastructure, organization resilience, digital innovation

Procedia PDF Downloads 22

Authors: Elias Udeaja, Elijah Udoh

Abstract:

Exploring an extended SVAR model (SVAR-X), we use the case of Nigeria to hypothesize for the role of uncertainty as the underlying source of asymmetries in the response of monetary policy to output and inflation. Deciphered the empirical finding is the potential of monetary policy exhibiting greater sensitive to shocks due to output growth than they do to shocks due to inflation in recession periods, while the reverse appears to be the case for a contractionary monetary policy. We also find the asymmetric preference in the response of monetary policy to changes in output and inflation as relatively more pronounced when we control for uncertainty as the underlying source of asymmetries.

Keywords: asymmetry response, developing economies, monetary policy shocks, uncertainty

Procedia PDF Downloads 119

Authors: Xuemei Jiang, Kunfu Zhu, Shouyang Wang

Abstract:

In this paper, we selected China as a case and employ a time-series of unique input-output tables distinguishing firm ownership and processing exports, to evaluate the role of foreign-invested enterprises (FIEs) in China’s rapid carbon dioxide emission growth. The results suggested that FIEs contributed to 11.55% of the economic outputs’ growth in China between 1992-2010, but accounted for only 9.65% of the growth of carbon dioxide emissions. In relative term, until 2010 FIEs still emitted much less than Chinese-owned enterprises (COEs) when producing the same amount of outputs, although COEs experienced much faster technology upgrades. In an ideal scenario where we assume the final demands remain unchanged and COEs completely mirror the advanced technologies of FIEs, more than 2000 Mt of carbon dioxide emissions would be reduced for China in 2010. From a policy perspective, the widespread FIEs are very effective and efficient channel to encourage technology transfer from developed to developing countries.

Keywords: carbon dioxide emissions, foreign-invested enterprises, technology transfer, input–output analysis, China

Procedia PDF Downloads 374

Authors: Maryam Akbarzadeh, F. Esmaeilzadeh, A. Poostvar, M. Manuchehri

Abstract:

Preparation of regional input-output tables requires statistical methods combined with high costs and too much time. Obtained estimates by non-statistical methods have low confidence coefficient. Therefore, integrated methods for this purpose are suggested by recent input–output studies. In this study, first GRIT method is introduced as an appropriate integrated method for preparation of input-output table of Fars province. Next, input-output table is prepared for Fars province using this method. Therefore, this study is based on input-output table of national economy in 2001. Necessary modifications performed in the field of changes at level of prices and differences of regional trade compared with other areas at national level. Moreover, up to date statistics and information and technical experts view on the various economic sectors along with input-output table 33 was used in 2011 followed by investigation of general structure of the province economy based on the amounts of added value obtained from this table.

Keywords: grit, input-output, table, regional

Procedia PDF Downloads 228

Authors: H. Z. Ulukan, E. Demircioğlu, M. Erol Genevois

Abstract:

The scope of this paper and the aim of proposed model were to apply monetary Input –Output (I-O) analysis to point out the importance of reusing know-how and other requirements in order to reduce the production costs in a manufacturing process for a laptop computer. I-O approach using the monetary input-output model is employed to demonstrate the impacts of different factors in a manufacturing process. A sensitivity analysis showing the correlation between these different factors is also presented. It is expected that the recommended model would have an advantageous effect in the cost minimization process.

Keywords: input-output analysis, monetary input-output model, manufacturing process, laptop computer

Procedia PDF Downloads 363

Authors: Alain Villemeur

Abstract:

The relationships between the profit share in income on the one hand and the growth rates of output and employment on the other hand have been studied for 17 advanced economies since 1961. The vast majority (98%) of annual values for the profit share fall between 20% and 40%, with an average value of 33.9%. For the 17 advanced economies, Gross Domestic Product and productivity growth rates tend to fall as the profit share in income rises. For the employment growth rates, the relationships are complex; nevertheless, over long periods (1961-2000), it appears that the more job-creating economies are Australia, Canada, and the United States; they have experienced a profit share close to 1/3. This raises a number of questions, not least the value of 1/3 for the profit share and its role in macroeconomic fundamentals. To explain these facts, an endogenous growth model is developed. This growth and distribution model reconciles the great ideas of Kaldor (economic growth as a chain reaction), of Keynes (effective demand and marginal efficiency of capital) and of Ricardo (importance of the wage-profit distribution) in an economy facing creative destruction. A production function is obtained, depending mainly on the growth of employment, the rate of net investment and the profit share in income. In theory, we show the existence of incentives: an incentive for job creation when the profit share is less than 1/3 and another incentive for job destruction in the opposite case. Thus, increasing the profit share can boost the employment growth rate until it reaches the value of 1/3; otherwise lowers the employment growth rate. Three key findings can be drawn from these considerations. The first reveals that the best GDP and productivity growth rates are obtained with a profit share of less than 1/3. The second is that maximum job growth is associated with a 1/3 profit share, given the existence of incentives to create more jobs when the profit share is less than 1/3 or to destroy more jobs otherwise. The third is the decline in performance (GDP growth rate and productivity growth rate) when the profit share increases. In conclusion, increasing the profit share in income weakens GDP growth or productivity growth as a long-term trend, contrary to the trickle-down hypothesis. The employment growth rate is maximum for a profit share in income of 1/3. All these lessons suggest macroeconomic policies considering the profit share in income.

Keywords: advanced countries, GDP growth, employment growth, profit share, economic policies

Procedia PDF Downloads 30

Authors: Samantha Rix

Abstract:

The purpose of this research paper is to investigate the cognitive processing of learners who receive input but produce very little or no output, and who, when they do produce output, exhibit a similar language proficiency as do those learners who produced output more regularly in the language classroom. Previous studies have investigated the benefits of output (with somewhat differing results); therefore, the presentation will begin with an investigation of what may underlie gains in proficiency without output. Consequently, a pilot study was designed and conducted to gain insight into the cognitive processing of low-output language learners looking, for example, at quantity and quality of noticing. This will be carried out within the paradigm of action classroom research, observing and interviewing low-output language learners in an intensive English program at a small Midwest university. The results of the pilot study indicated that autonomy in language learning, specifically utilizing strategies such self-monitoring, self-talk, and thinking 'out-loud', were crucial in the development of language proficiency for academic-level performance. The presentation concludes with an examination of pedagogical implication for classroom use in order to aide students in their language development.

Keywords: cognitive processing, language learners, language proficiency, learning strategies

Procedia PDF Downloads 439

Authors: Jung–Min Yang

Abstract:

Solvability of the model matching problem for input/output switched asynchronous sequential machines is discussed in this paper. The control objective is to determine the existence condition and design algorithm for a corrective controller that can match the stable-state behavior of the closed-loop system to that of a reference model. Switching operations and correction procedures are incorporated using output feedback so that the controlled switched machine can show the desired input/output behavior. A matrix expression is presented to address reachability of switched asynchronous sequential machines with output equivalence with respect to a model. The presented reachability condition for the controller design is validated in a simple example.

Keywords: asynchronous sequential machines, corrective control, model matching, input/output control

Procedia PDF Downloads 308

Authors: Hassan H. Abuelhassan, M. Ali Badawi, Abdelrahman A. Elbadawi, Adam A. Elbashir

Abstract:

In this paper, the effect of the injected current and temperature into the output power of the laser diode module operating at 808nm were applied, studied and discussed. Low power diode laser was employed as a source. The experimental results were demonstrated and then the output power of laser diode module operating at 808nm was clearly changed by the thermal temperature and injected current. The output power increases by the increasing the injected current and temperature. We also showed that the increasing of the injected current results rising in heat, which also, results into decreasing of the laser diode output power during the highest temperature as well. The best ranges of characteristics made by diode module operating at 808nm were carefully handled and determined.

Keywords: laser diode, light amplification, injected current, output power

Procedia PDF Downloads 359

Authors: Hasan A Al-Asadi, Ali Samir, Afrah Turki Awad, Ali Basem

Abstract:

Integrating the phase change material (PCM) with photovoltaic (PV) panels is one of the effective techniques to minimize the PV panel temperature and increase their electric output. In order to investigate the impact of the PCM on the electric output of the PV panels for a whole year, a lumped-distributed parameter model for the PV-PCM module has been developed. This development has considered the impact of the PCM density variation between the solid phase and liquid phase. This contribution will increase the assessment accuracy of the electric output of the PV-PCM module. The second contribution is to assess the impact of the expanded composite graphite-PCM on the PV electric output in Milan for a whole year. The novel one-dimensional model has been solved using MATLAB software. The results of this model have been validated against literature experiment work. The weather and the solar radiation data have been collected. The impact of expanded graphite-PCM on the electric output of the PV panel for a whole year has been investigated. The results indicate this impact has an enhancement rate of 2.39% for the electric output of the PV panel in Milan for a whole year.

Keywords: PV panel efficiency, PCM, numerical model, solar energy

Procedia PDF Downloads 137

Authors: Shuting Ji, Yueming Zhang, Jing Zhao

Abstract:

The output error of the globoidal cam mechanism can be considered as a relevant indicator of mechanism performance, because it determines kinematic and dynamical behavior of mechanical transmission. Based on the differential geometry and the rigid body transformations, the mathematical model of surface geometry of the globoidal cam is established. Then we present the analytical expression of the output error (including the transmission error and the displacement error along the output axis) by considering different manufacture and assembly errors. The effects of the center distance error, the perpendicular error between input and output axes and the rotational angle error of the globoidal cam on the output error are systematically analyzed. A globoidal cam mechanism which is widely used in automatic tool changer of CNC machines is applied for illustration. Our results show that the perpendicular error and the rotational angle error have little effects on the transmission error but have great effects on the displacement error along the output axis. This study plays an important role in the design, manufacture and assembly of the globoidal cam mechanism.

Keywords: globoidal cam mechanism, manufacture error, transmission error, automatic tool changer

Procedia PDF Downloads 537

Authors: Yeliz Ekinci, Raife Merve Ön

Abstract:

Nowadays, technological progress is one of the most important components of economic growth and the efficiency of R&D activities is particularly essential for countries. This study is an attempt to analyze the R&D efficiencies of EU countries. The indicators related to R&D efficiencies should be determined in advance in order to use DEA. For this reason a list of input and output indicators are derived from the literature review. Considering the data availability, a final list is given for the numerical analysis for future research.

Keywords: data envelopment analysis, economic growth, EU countries, R&D efficiency

Procedia PDF Downloads 511

Authors: Marinko Skare, Malgorzata Porada Rochon

Abstract:

This paper study the link between energy justice and economic growth. The link between energy justice and growth has not been extensively studied. Here we study the impact and importance of energy justice, as a part of the energy transition process, on economic growth. Our study shows energy justice growth is an important determinant of economic growth and development that should be addressed at the industry and economic levels. We use panel data modeling and causality testing to research the empirical link between energy justice and economic growth. Industry and economy-level policies designed to support energy justice initiatives are beneficial to economic growth. Energy justice is a necessary condition for green growth and sustainability targets.

Keywords: energy justice, economic growth, panel data, energy transition

Procedia PDF Downloads 82

Authors: Barenten Suciu

Abstract:

In this paper, effectiveness of a machine design process is evaluated on the basis of the specific output calculus. Concretely, a screw-worm gear mechanical transmission is designed by using the classical and the 3D-CAD methods. Strength analysis and drawing of the designed parts is substantially aided by employing the SolidWorks software. Quality of the design process is assessed by manufacturing (printing) the parts, and by computing the efficiency, specific load, as well as the specific output (work) of the mechanical transmission. Influence of the stroke, travelling velocity and load on the mechanical output, is emphasized. Optimal design of the mechanical transmission becomes possible by the appropriate usage of the acquired results.

Keywords: mechanical transmission, design, screw, worm-gear, efficiency, specific output, 3D-printing

Procedia PDF Downloads 110

Authors: Isabela Romanha de Alcantara, Jose Eustaquio Ribeiro Vieira Filho, Jose Garcia Gasques

Abstract:

Innovation and technology can be determinant factors to ensure agricultural and sustainable growth, as well as productivity gains. Technical change has contributed considerably to supply agricultural expansion in Brazil. This agricultural growth could be achieved by incorporating more land or capital. If capital is the main source of agricultural growth, it is possible to increase production per unit of land. The objective of this paper is to estimate: 1) total factor productivity (TFP), which is measured in terms of the rate of output per unit of input; and 2) the land-saving effect (LSE) that is the amount of land required in the case that yield rate is constant over time. According to this study, from 1990 to 2019, it appears that 87 percent of Brazilian agriculture product growth comes from the gains of productivity; the rest of 13 percent comes from input growth. In the same period, the total LSE was roughly 400 Mha, which corresponds to 47 percent of the national territory. These effects reflect the greater efficiency of using productive factors, whose technical change has allowed an increase in agricultural production based on productivity gains.

Keywords: agriculture, land-saving effect, livestock, productivity

Procedia PDF Downloads 188

Authors: Johannes T. Tsoku, Teboho J. Mosikari, Diteboho Xaba, Thatoyaone Modise

Abstract:

This paper examines the relationship between manufacturing growth and economic growth in South Africa using quarterly data ranging from 2001 to 2014. The paper employed the Johansen cointegration to test the Kaldor’s hypothesis. The Johansen cointegration results revealed that there is a long run relationship between GDP, manufacturing, service and employment. The Granger causality results revealed that there is a unidirectional causality running from manufacturing growth to GDP growth. The overall findings of the study confirm that Kaldor’s first law of growth is applicable in South African economy. Therefore, investment strategies and policies should be alignment towards promoting growth in the manufacturing sector in order to boost the economic growth of South Africa.

Keywords: cointegration, economic growth, Kaldor’s law, manufacturing growth

Procedia PDF Downloads 355

Authors: Faezeh Aghazadeh, Mohammad Javad Sharifi

Abstract:

The application of neural networks to model a full-scale industrial acetylene hydrogenation in olefin plant has been studied. The operating variables studied are the, input-temperature of the reactor, output-temperature of the reactor, hydrogen ratio of the reactor, [C₂H₂]input, and [C₂H₆]input. The studied operating variables were used as the input to the constructed neural network to predict the [C₂H₆]output at any time as the output or the target. The constructed neural network was found to be highly precise in predicting the quantity of [C₂H₆]output for the new input data, which are kept unaware of the trained neural network showing its applicability to determine the [C₂H₆]output for any operating conditions. The enhancement of [C₂H₆]output as compared with [C₂H₆]input was a consequence of low selective acetylene hydrogenation to ethylene.

Keywords: acetylene hydrogenation, Pd-Ag/Al₂O₃, artificial neural network, modeling, optimal design

Procedia PDF Downloads 235

Authors: Siphat Lim

Abstract:

This study used Autoregressive Distributed Lag (ARDL) approach to cointegration. In the long-run the general price level and exchange rate have a positively significant effect on domestic output. The estimated result further revealed that fiscal stimulus help stimulate domestic output in the long-run, but not in the short-run, while monetary expansion help to stimulate output in both short-run and long-run. The result is complied with the theory which is the macroeconomic policies, fiscal and monetary policy; help to stimulate domestic output in the long-run. The estimated result of the Vector Error Correction Model (VECM) has indicated more clearly that the consumer price index has a positive effect on output with highly statistically significant. Increasing in the general price level would increase the competitiveness among producers than increase in the output. However, the exchange rate also has a positive effect and highly significant on the gross domestic product. The exchange rate depreciation might increase export since the purchasing power of foreigners has increased. More importantly, fiscal stimulus would help stimulate the domestic output in the long-run since the coefficient of government expenditure is positive. In addition, monetary expansion would also help stimulate the output and the result is highly significant. Thus, fiscal stimulus and monetary expansionary would help stimulate the domestic output in the long-run in Cambodia.

Keywords: fiscal policy, monetary policy, ARDL, VECM

Procedia PDF Downloads 398

Authors: O. R. Obalowu, F. B. Akande, T. P Abegunrin

Abstract:

Maize (Zea may) is mostly grown and consumed by Nigeria farmers using different tillage practices which have a great effect on its growth and yield. In order to maximize output, there is need to recommend a suitable tillage practice for crop production which will increase the growth and yield of maize. This study investigated the effect of tillage practices and planting pattern on the growth and yield of maize. The experiment was arranged in a 4x3x3 Randomized Complete Block Design (RCBD) layout, with four tillage practices consisting of no-tillage (NT), disc ploughing only (Ponly), disc ploughing followed by harrowing (PH), and disc ploughing, harrowing then ridging (PHR). Three planting patterns which include; 65 x 75, 75 x 75 and 85 x 75 cm spacing within and between the rows respectively, were randomly applied on the plots. All treatments were replicated three times. Data which consist of plant height, stem girth, leaf area and weight of maize per plots were taken and recorded. Data gathered were analyzed using Analysis of Variance (ANOVA) in the Minitab Software Package. The result shows that PHR under the third planting pattern has the highest growth rate (216.50 cm) while NT under the first planting pattern has the lowest mean value of growth rate (115.60 cm). Also, Ponly under the first planting pattern gives a better maize yield (19.45 kg) when compared with other tillage practices while NT under first planting pattern recorded the least yield of maize (9.40 kg). In conclusion, considering soil and weather conditions of the research area, plough only under the first planting pattern (65 x 75 cm) is the best alternative for the production of the Swan maize variety.

Keywords: tillage practice, planting pattern, disc ploughing, harrowing, ridging

Procedia PDF Downloads 450