Search results for: real per capita GDP

Authors: Dejene Gizaw Kidane

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This study examines the impact of foreign direct investment on economic growth of Ethiopia using yearly time-series data for 1974 through 2013. Economic growth is proxies by real per capita gross domestic product and foreign direct investment proxies by the inflow of foreign direct investment. Other control variables such as gross domestic saving, trade, government consumption and inflation has been incorporated. In order to fully account for feedbacks, a vector autoregressive model is utilized. The results show that there is a stable, long-run relationship between foreign direct investment and economic growth. The variance decomposition results show that the main sources of Ethiopia economic growth variations are due largely own shocks. The pairwise Granger causality results show that there is a unidirectional causality that runs from FDI to economic growth of Ethiopia. Hence, the researcher therefore recommends that, FDI facilitate economic growth, so the government has to exert much effort in order to attract more FDI into the country.

Keywords: real per capita GDP, FDI, co-integration, VECM, Granger causality

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Authors: Ghunchq Khan

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The increase in greenhouse gas (GHGs) emissions is a main environmental problem. Diverse human activities and inappropriate economic growth have stimulated a trade-off between economic growth and environmental deterioration all over the world. The impact of economic growth on the environment has received attention as global warming and environmental problems have become more serious. The focus of this study is on carbon footprints (production and consumption) and analyses the impact of GDP per capita on carbon footprints. A balanced panel of 99 countries from 2000 to 2016 is estimated by employing autoregressive distributed lags (ARDL) model – mean group (MG) and pooled mean group (PMG) estimators. The empirical results indicate that GDP per capita has a significant and positive impact in the short run but a negative effect in the long run on the carbon footprint of production in high-income countries by controlling trade openness, industry share, biological capacity, and population density. At the same time, GDP per capita has a significant and positive impact in both the short and long run on the carbon footprint of the production of non-high-income countries. The results also indicate that GDP per capita negatively impacts the carbon footprint of consumption for high-income countries; on the other hand, the carbon footprint of consumption increases as GDP per capita grows in non-high-income countries.

Keywords: ARDL, carbon footprint, economic growth, industry share, trade openness

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Authors: Aljabryn Dalal Hamad

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The present explanatory study concerns with the relation between Diabetes Mellitus and Food Balance in the Kingdom of Saudi Arabia during 2005-2010, using published data. Results illustrated that Saudi citizen daily protein consumption (DPC) during 2005-2007 (g/capita/day) is higher than the average global consumption level of protein with 15.27%, daily fat consumption (DFC) with 24.56% and daily energy consumption (DEC) with 16.93% and increases than recommended level by International Nutrition Organizations (INO) with 56% for protein, 60.49% for fat and 27.37% for energy. On the other hand, DPC per capita in Saudi Arabia decreased during the period 2008-2010 from 88.3 to 82.36 gram/ day. Moreover, DFC per capita in Saudi Arabia decreased during the period 2008-2010 from 3247.90 to 3176.43 Cal/capita/ day, and daily energy consumption (DEC) of Saudi citizen increases than world consumption with 16.93%, while increases with 27.37% than INO. Despite this, DPC, DFC and DEC per capita in Saudi Arabia still higher than world mean. On the other side, results illustrated that the number of diabetic patients in Saudi Arabia during the same period (2005-2010). The curve of diabetic patient’s number in Saudi Arabia during 2005-2010 is regular ascending with increasing level ranged between 7.10% in 2005 and 12.44% in 2010. It is essential to devise Saudi National programs to educate the public about the relation of food balances and diabetes so it could be avoided, and provide citizens with healthy dietary balances tables.

Keywords: Diabetes mellitus, food balance, energy, fat, protein, Saudi Arabia

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Authors: Baqir Khawari

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This study has been undertaken to investigate the impact of remittances on household poverty and inequality using OLS and Logit Models with a strictly multi-random sampling method. The result of the OLS model reveals that if the per capita international remittances increase by 1%, then it is estimated that the per capita income will increase by 0.071% and 0.059% during 2019/20 and 2020/21, respectively. In addition, a 1% increase in external remittances results in a 0.0272% and 0.025% reduction in per capita depth of poverty and a 0.0149% and 0.0145% decrease in severity of poverty during 2019/20 and 2020/21, respectively. It is also shown that the effect of external remittances on poverty is greater than internal remittances. In terms of inequality, the result represents that remittances reduced the Gini coefficient by 2% and 7% during 2019/20 and 2020/21, respectively. Further, it is bold that COVID-19 negatively impacts the amount of received remittances by households, thus resulting in a reduction in the size of the effect of remittances. Therefore, a concerted effort of effective policies and governance and international assistance is imperative to address this prolonged problem.

Keywords: migration, remittances, poverty, inequality, COVID-19, Afghanistan

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Authors: Vuyayo Tsheleza, Simbarashe Ndhleve, Christopher Mpundu Musampa

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Mismanagement of waste is continuously emerging as a rising malpractice in most developing countries, especially in fast growing cities. Household solid waste in Mthatha has been reported to be one of the problems facing the city and is overwhelming local authorities, as it is beyond the environment and management capacity of the existing waste management system. This study estimates per capita waste generation, quantity of different waste types generated by inhabitants of formal and informal settlements in Mthatha as well as waste management practices in the aforementioned socio-economic stratums. A total of 206 households were systematically selected for the study using stratified random sampling categorized into formal and informal settlements. Data on household waste generation rate, composition, awareness, and household waste management behaviour and practices was gathered through mixed methods. Sampled households from both formal and informal settlements with a total of 684 people generated 1949kg per week. This translates to 2.84kg per capita per week. On average, the rate of solid waste generation per capita was 0.40 kg per day for a person living in informal settlement and 0.56 kg per day person living in formal settlement. When recorded in descending order, the proportion food waste accounted for the most generated waste at approximately 23.7%, followed by disposable nappies at 15%, papers and cardboards 13.34%, glass 13.03%, metals at 11.99%, plastics at 11.58%, residue at 5.17, textiles 3.93%, with leather and rubber at 2.28% as the least generated waste type. Different waste management practices were reported in both formal and informal settlements with formal settlements proving to be more concerned about environmental management as compared to their counterparts, informal settlement. Understanding attitudes and perceptions on waste management, waste types and per capita solid waste generation rate can help evolve appropriate waste management strategies based on the principle of reduce, re-use, recycle, environmental sound disposal and also assist in projecting future waste generation rate. These results can be utilized as input when designing growing cities’ waste management plans.

Keywords: awareness, characterisation, per capita, quantification

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Authors: Jeeban Amgain

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This paper investigates the impact of the size and composition of government expenditure and tax on GDP per capita growth in 36 Asian economies over the period of 1991-2012. The research employs the technique of panel regression; Fixed Effects and Generalized Method of Moments (GMM) as well as other statistical and descriptive approaches. The finding concludes that the size of government expenditure and tax revenue are generally low in this region. GDP per capita growth is strongly negative in response to Government expenditure, however, no significant relationship can be measured in case of size of taxation although it is positively correlated with economic growth. Panel regression of decomposed fiscal components also shows that the pattern of allocation of expenditure and taxation really matters on growth. Taxes on international trade and property have a significant positive impact on growth. In contrast, a major portion of expenditure, i.e. expenditure on general public services, health and education are found to have significant negative impact on growth, implying that government expenditures are not being productive in the Asian region for some reasons. Comparatively smaller and efficient government size would enhance the growth.

Keywords: government expenditure, tax, GDP per capita growth, composition

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Authors: Fahad Al Yahyaey, Ihab Shaat, Russell Bush

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This study was conducted at the Livestock Research Centre, Ministry of Agriculture and Fisheries, Oman, on two local goat breeds (Jabbali and Sahrawi) due to their importance to Omani livestock production and food security. The Jabbali is characterized by increased growth rates and a higher twinning rate, while the Sahrawi has increased milk production. The aim of the study was to investigate the effect of Spirulina supplementation on live weight (BWT), average daily gain (ADG), and body conformation measurements; chest girth (CG), wither height (WH), body length (BL), and body condition score (BCS). Thirty-six males (approximately nine-months-old and 16.44 ± 0.33 kg average of initial body weight) were used across an eleven-week study from November–February 2019-2020. Each breed was divided into three groups (n = 6/group) and fed one of three rations: (1) concentrate mixture (Control) with crude protein 14% and energy 11.97% MJ/kg DM; (2) the same concentrate feed with the addition of 2 gm /capita daily Spirulina platensis (Treatment 1) and (3) the same concentrate feed with the addition of 4 gm /capita daily Spirulina platensis (Treatment 2). Analysis of weekly data collections for all traits indicated a significant effect of feeding Spirulina on all the studied traits except WH and BL. Analysis of variance for fixed effects in this study (damage and kid birth type i.e., single, twin or triple) were not significant for all studied traits. However, the breed effect was highly significant (P < 0.001) on BWT, ADG, BCS, and CG traits. On the other hand, when the analysis was done for the treatment effect within breeds for ADG, the Sahrawi breed had a significant effect (P < 0.05) at 56.52, 85.51, and 85.50 g/day for control, treatment 1 and treatment 2, respectively. This is a 51% difference between the control and treatment 1 (2 gm /capita). Whereas for the Jabbali breed, the treatment effect was not significant for ADG (P =0.55), and the actual ADG was 104.59, 118.84, and 114.25 g/day for control, treatment 1, and treatment 2, respectively, providing a 14% difference between the control group and the treated group (4 gm /capita). These findings indicate using Spirulina supplementation in Omani goat diets is recommended at 2 gm per capita as there was no benefit in feeding at 4 gm per capita for either breed. Farmers feeding Spirulina supplementation to kids after weaning at six-months could increase their herd performance and growth rate and facilitate buck selection at an earlier age.

Keywords: body conformation, goats, live weight, spirulina

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Authors: Rong Yuan, Zhao Tao

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Only a handful of literature have used to non-linear model to investigate the influencing factors of greenhouse gas (GHG) emissions in China’s manufacturing sectors. And there is a limit in investigating quantitatively and systematically the mechanism of correlation between economic development and GHG emissions considering inherent differences among manufacturing sub-sectors. Considering the sectorial characteristics, the manufacturing sub-sectors with various impacts of output on GHG emissions may be explained by different development modes in each manufacturing sub-sector, such as investment scale, technology level and the level of international competition. In order to assess the environmental impact associated with any specific level of economic development and explore the factors that affect GHG emissions in China’s manufacturing industry during the process of economic growth, using the threshold Stochastic Impacts by Regression on Population, Affluence and Technology (STIRPAT) model, this paper investigated the influence impacts of GHG emissions for China’s manufacturing sectors of different stages of economic development. A data set from 28 manufacturing sectors covering an 18-year period was used. Results demonstrate that output per capita and investment scale contribute to increasing GHG emissions while energy efficiency, R&D intensity and FDI mitigate GHG emissions. Results also verify the nonlinear effect of output per capita on emissions as: (1) the Environmental Kuznets Curve (EKC) hypothesis is supported when threshold point RMB 31.19 million is surpassed; (2) the driving strength of output per capita on GHG emissions becomes stronger as increasing investment scale; (3) the threshold exists for energy efficiency with the positive coefficient first and negative coefficient later; (4) the coefficient of output per capita on GHG emissions decreases as R&D intensity increases. (5) FDI shows a reduction in elasticity when the threshold is compassed.

Keywords: China, GHG emissions, manufacturing industry, threshold STIRPAT model

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Authors: Ajibade T., Omotesho O. A., Ayinde O. E, Ajibade E. T., Muhammad-Lawal A.

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This study was carried out to examine the extent and magnitude of food security amongst farming rural households in Nigeria. Data used for this study was collected from a total of two hundred and forty rural farming households using a two-stage random sampling technique. The main tools of analysis for this study include descriptive statistics and a constructed food security index using the identification and aggregation procedure. The headcount ratio in this study reveals that 71% of individuals in the study area were food secure with an average per capita calorie and protein availability of 4,213.92kcal and 99.98g respectively. The aggregated household daily calorie availability and daily protein availability per capita were 3,634.57kcal and 84.08g respectively which happens to be above the food security line of 2,470kcal and 65g used in this study. The food insecure households fell short of the minimum daily per capita calorie and protein requirement by 2.1% and 24.9%. The study revealed that the area is food insecure due to unequal distribution of the available food amongst the sampled population. The study recommends that the households should empower themselves financially in order to enhance their ability to afford the food during both on and off seasons. Also, processing and storage of farm produce should be enhanced in order to improve on availability throughout the year.

Keywords: farming household, food security, identification and aggregation, food security index

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Authors: Sennanda Musa, Ahmed Mutunzi Kitunzi, Gerald Kasigwa, Ismail Kintu

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This paper is an analysis of the empirical relationship between project financing by Islamic Development Bank (IsDB) and the poverty trends in the context of countries benefiting from IsDB. Specifically, the study seeks to find out whether there is a statistically significant relationship between the project financing dollar amounts by IsDB (PF) and the GNI Per Capita, PPP of 57 countries for the years 2002 to 2021. The research is a longitudinal, desk-top triangulation of correlation, regression, hypothesis-testing employing the linear dynamic panel data GMM model as an estimator of the empirical relationships between the key variables of the study. The study results show that there is a significant positive relationship between the PF dollar amounts from the IsDB and the GNI Per Capita, PPP in these 57 countries. Therefore, countries that receive higher PF dollar amounts from the IsDB, generally have more GNI Per Capita, PPP (less poverty) than their counterparts. It is, therefore, recommendable for countries to formulate policies that facilitate Islamically financed projects to mitigate poverty. This paper develops policy discussions regarding allocation of political attention to the policy topics on poverty mitigation, and their relation to financing projects Islamically, thus generate information on policy choices regarding the Islamic financing alternative.

Keywords: gross-national-income, IsDB-project-financing, public policy, poverty

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Authors: Mojtaba Hakimi-Moghaddam

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Positive real and strictly positive real transfer functions are important concepts in the control theory. In this paper, the results of researches in these areas are summarized. Definitions together with their graphical interpretations are mentioned. The equivalent conditions in the frequency domain and state space representations are reviewed. Their equivalent electrical networks are explained. Also, a comprehensive discussion about a difference between behavior of real part of positive real and strictly positive real transfer functions in high frequencies is presented. Furthermore, several illustrative examples are given.

Keywords: real rational transfer functions, positive realness property, strictly positive realness property, equivalent conditions

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Authors: Joana Margarida Bôto, Belmira Neto, Vera Miguéis, Manuela Meireles, Ada Rocha

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The Mediterranean diet has been recognized as a sustainable model of living with benefits for the environment and human health. However, a complete assessment of its sustainability, encompassing all dimensions and aspects, to our best knowledge, has not yet been realized. This systematic literature review aimed to fill this gap by identifying and describing the indicators used to assess the sustainability of the Mediterranean diet, looking at several dimensions, and presenting the results from their application. The Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) guidelines methodology was used, and searches were conducted in PubMed, Scopus, Web of Science, and GreenFile. There were identified thirty-two articles evaluating the sustainability of the Mediterranean diet. The environmental impact was quantified in twenty-five of these studies, the nutritional quality was evaluated in seven studies, and the daily cost of the diet was assessed in twelve studies. A total of thirty-three indicators were identified and separated by four dimensions of sustainability, specifically, the environmental dimension (ten indicators, namely carbon, water, and ecological footprint), the nutritional dimension (eight indicators, namely Health score and Nutrient Rich Food Index), the economic dimension (one indicator, the dietary cost), the sociocultural dimension (six indicators – with no results). Only eight of the studies used combined indicators. The Mediterranean diet was considered in all articles as a sustainable dietary pattern with a lower impact than Western diets. The carbon footprint ranged between 0.9 and 6.88 kg CO₂/d per capita, the water footprint between 600 and 5280 m³/d per capita, and the ecological footprint between 2.8 and 53.42 m²/d per capita. The nutritional quality was high, obtaining 122 points using the Health score and 12.95 to 90.6 points using the Nutrient Rich Food Index. The cost of the Mediterranean diet did not significantly differ from other diets and varied between 3.33 and 14.42€/d per capita. A diverse approach to evaluating the sustainability of the Mediterranean diet was found.

Keywords: Mediterranean diet, sustainability, environmental indicators, nutritional indicators

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Authors: El Harbi Sana, Ben Afia Neila

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In this paper, we study the relationship between the military effort and pollution. A distinction is drawn between the direct and indirect impact of the military effort (military expenditure and military personnel) on pollution, which operates through the impact of military effort on per capita income and the resultant impact of income on pollution. Using the data of 121 countries covering the period 1980–2011, both the direct and indirect impacts of military effort on air pollution emissions are estimated. Our results show that the military effort is estimated to have a positive direct impact on per capita emissions. Indirect effects are found to be positive, the total effect of military effort on emissions is positive for all countries.

Keywords: military endeavor, income, emissions of CO2, panel data

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Authors: Rita U. Onolemhemhen, Saheed L. Bello, Akin P. Iwayemi

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The effectiveness of energy demand policy depends on identifying the key drivers of energy demand both in the short-run and the long-run. This paper examines the influence of regional differences on the link between energy demand and other explanatory variables for Nigeria, China and USA using the Vector Error Correction Model (VECM) approach. This study employed annual time series data on energy consumption (ED), real gross domestic product (GDP) per capita (RGDP), real energy prices (P) and urbanization (N) for a thirty-six-year sample period. The utilized time-series data are sourced from World Bank’s World Development Indicators (WDI, 2016) and US Energy Information Administration (EIA). Results from the study, shows that all the independent variables (income, urbanization, and price) substantially affect the long-run energy consumption in Nigeria, USA and China, whereas, income has no significant effect on short-run energy demand in USA and Nigeria. In addition, the long-run effect of urbanization is relatively stronger in China. Urbanization is a key factor in energy demand, it therefore recommended that more attention should be given to the development of rural communities to reduce the inflow of migrants into urban communities which causes the increase in energy demand and energy excesses should be penalized while energy management should be incentivized.

Keywords: economic growth, energy demand, income, real GDP, urbanization, VECM

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Authors: Isma Alfia Novita

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Indonesia is one country with the largest agricultural producer in the world but still can not meet the needs of the national rice. In addition, Indonesia was ranked the second-largest rice importer after the Philippines. Indonesia's rice consumption reached 102 kg per capita, or almost twice the average global rice consumption is only 60 kg per capita per year. One of the government's efforts in developing national food consumption is to invite people to improve diversification and food security. This is done considering the diet of Indonesia is still high consumption of rice. Therefore, this program made innovations Rice Moringa namely imitation rice with the addition of Moringa (Moringa oleifera). Moringa is a plant that is widely grown and easily found. In addition, Moringa has many benefits because it contains vitamin A, vitamin B, vitamin C, calcium, protein, and potassium. Based on the analysis of the nutrient content, it is known that the Moringa leaves have good potential to maintain the balance of nutrients in the body

Keywords: imitation rice, Moringa oliefera, Moringa, AFTA

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Authors: Linda Kauškale, Ineta Geipele

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Due to the rapidly changing external environment, portfolio management strategies became closely interconnected with real estate industry development and macroeconomic development tendencies. The aim of the research is to analyze sustainable real estate market development influencing factors, with particular focus on its economic and management aspects that influences real estate investment decisions as well. Scientific literature and article analysis, data analysis, expert evaluation, and other quantitative and qualitative research methods were used in the research. Developed real estate market sustainability model and index analysis approach can be applied by investors and real estate companies in real estate asset management and can help in risk minimization activities in international entrepreneurship. Future research directions have been identified in the research as well.

Keywords: indexes, investment decisions, real estate market, sustainability

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Authors: Mahsa Ghorbani Jazin

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The insurance industry has a prominent place in the economy of every country in the world. Fire insurance policies are types of non-life insurance, which protect insureds against financial losses of fire and related risks. In this paper, factors that are affecting the demand for fire insurance in Iran have been examined. Due to this reason, information and data have been collected during the period 1989-2019. In this research, the final model was estimated. The obtained results represent that as the population and literacy rate increase, people are more willing to purchase fire insurance. On the other hand, the actual per capita income has a negative influence on the demand for this type of insurance. Also, the amount of compensation that is paid in losses can be assumed as an indirect advertisement for fire insurance and attracts people to buy this policy. Finally, the new technology in the insurance industry is examined as a new underestimated way for increasing demand, especially in Iran.

Keywords: fire insurance, demand, per capita income, literacy rate, population, compensation paid, Insurtech

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Authors: Asaolu Olugbenga Stephen, Afolabi Olusegun Temitope

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Lack of proper solid waste management is one of the main causes of environmental pollution and degradation in many cities, especially in developing countries. The aim of this study was to estimate the quantity of waste generated per capita per day, determine the composition and identify the potentials for recycling of waste generated. Characterization of wastes from selected households in the residential areas was done for over a 7 day period. The weight of each sorted category of waste was recorded in a structured database that calculated the proportion of each waste component. The results indicated that 85.4% of the sampled waste characterized was found to be recyclable; with an estimated average waste generated of 1.82kg/capita/day. The various solid waste fractions were organic (64.6%), plastics (15.6%), metals (9.2%), glass materials (1.6%) and unclassified (8.9%). It was concluded from this study that a large proportion of the waste generated from OAU campus residential area was recyclable and that there is a need to enact policy on waste recycling within the university campus.

Keywords: recycling, household wastes, residential, solid waste management

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Authors: Marcel Kohler

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The effect of trade liberalization on environmental conditions has yielded a great deal of debate in the current energy economics literature. Although research on the relationship between income growth and CO2 emissions is not new in South Africa, few studies address the role that South Africa’s foreign trade plays in this context. This paper undertakes to investigate empirically the impact of South Africa’s foreign trade reforms over the last four decades on its energy consumption and CO2 emissions by taking into account not only the direct effect of trade on each, but also its indirect effect through income induced growth. Using co integration techniques we attempt to disentangle the long and short-run relationship between trade openness, income per capita and energy consumption and CO2 emissions in South Africa. The preliminary results of this study find support for a positive bi-directional relationship between output and CO2 emissions, as well as between trade openness and CO2. This evidence confirms the expectation that as the South African economy opens up to foreign trade and experiences growth in per capita income, the countries CO2 emissions will increase.

Keywords: trade openness, CO2 emissions, cointegration, South Africa

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Authors: Angelika Kris D. Dalangin, Cesar B. Quicoy

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Rice farming is a major source of livelihood and employment in the Philippines, but it requires a substantial amount of capital. Capital may come from income (farm, non-farm, and off-farm), savings and credit. However, rice farmers suffer from lack of capital due to high costs of inputs and low productivity. Capital insufficiency, coupled with low productivity, hindered them to meet their basic household and production needs. Hence, they resorted to borrowing money, mostly from informal lenders who charge very high interest rates. As another source of capital, savings can help rice farmers meet their basic needs for both the household and the farm. However, information is inadequate whether the farmers save or not, as well as, why they do not depend on savings to augment their lack of capital. Thus, it is worth analyzing how rice farmers saved. The study revealed, using the actual savings which is the difference between the household income and expenditure, that about three-fourths (72%) of the total number of farmers interviewed are savers. However, when they were asked whether they are savers or not, more than half of them considered themselves as non-savers. This gap shows that there are many farmers who think that they do not have savings at all; hence they continue to borrow money and do not depend on savings to augment their lack of capital. The study also identified the forms of savings, saving motives, and savings utilization among rice farmers. Results revealed that, for the past 12 months, most of the farmers saved cash at home for liquidity purposes while others deposited cash in banks and/or saved their money in the form of livestock. Among the most important reasons of farmers for saving are for daily household expenses, for building a house, for emergency purposes, for retirement, and for their next production. Furthermore, the study assessed the factors affecting the rice farmers’ savings behaviour using logistic regression. Results showed that the factors found to be significant were presence of non-farm income, per capita net farm income, and per capita household expense. The presence of non-farm income and per capita net farm income positively affects the farmers’ savings behaviour. On the other hand, per capita household expenses have negative effect. The effect, however, of per capita net farm income and household expenses is very negligible because of the very small chance that the farmer is a saver. Generally, income and expenditure were proved to be significant factors that affect the savings behaviour of the rice farmers. However, most farmers could not save regularly due to low farm income and high household and farm expenditures. Thus, it is highly recommended that government should develop programs or implement policies that will create more jobs for the farmers and their family members. In addition, programs and policies should be implemented to increase farm productivity and income.

Keywords: agricultural economics, agricultural finance, binary logistic regression, logit, Philippines, Quezon, rice farmers, savings, savings behaviour

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Authors: Mojtaba Hakimi-Moghaddam

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Positive realness as the most important property of driving point impedance of passive electrical networks appears in the control systems stability theory in 1960’s. There are three important subsets of positive real (PR) systems are introduced by researchers, that is, loos-less positive real (LLPR) systems, weakly strictly positive real (WSPR) systems and strictly positive real (SPR) systems. In this paper, definitions, properties, lemmas, and theorems related to family of positive real systems are summarized. Properties in both frequency domain and state space representation of system are explained. Also, several illustrative examples are presented.

Keywords: real rational matrix transfer functions, positive realness property, strictly positive realness property, Hermitian form asymptotic property, pole-zero properties

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Authors: Diego Diaz H., Cristian Larroulet

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Although a large earthquake has clear and immediate consequences such as deaths, destruction of infrastructure and displacement (at least temporary) of part of the population, scientific research about the impact of a geological disaster in economic activity is inconclusive, especially when looking beyond the very short term. Estimating the economic impact years after a disaster strike is non-trivial since there is an unavoidable difficulty in attributing the observed effect to the disaster and not to other economic shocks. Case studies are performed that determine the impact of earthquakes in Chile, Japan, and New Zealand at a regional level by applying the synthetic control method, using the natural disaster as treatment. This consisted in constructing a counterfactual from every region in the same country that is not affected (or is slightly affected) by the earthquake. The results show that the economies of Canterbury and Tohoku achieved greater levels of GDP per capita in the years after the disaster than they would have in the absence of the disaster. For the case of Chile, however, the region of Maule experiences a decline in GDP per capita because of the earthquake. All the results are robust according to the placebo tests. Also, the results suggest that national institutional quality improve the growth process after the disaster.

Keywords: earthquake, economic growth, institutional quality, synthetic control

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Authors: Wei Yao, Constantinos Alexiou

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In the existing literature, many studies have focused on the implementation and effectiveness of quantitative easing (QE) since 2008, but only a few have evaluated QE’s effect on commodity prices. In this context, by following Frankel’s (1986) commodity price overshooting model, we study the dynamic covariation between the expected real interest rates and six agricultural commodities’ real returns over the period from 2000:1 to 2018 for the US economy. We use wavelet analysis to investigate the causal relationship and co-movement of time series data by calculating the coefficient of determination in different frequencies. We find that a) US unconventional monetary policy may cause more positive and significant covariation between the expected real interest rates and agricultural commodities’ real returns over the short horizons; b) a lead-lag relationship that runs from agricultural commodities’ real returns to the expected real short-term interest rates over the long horizons; and c) a lead-lag relationship from agricultural commodities’ real returns to the expected real long-term interest rates over short horizons. In the realm of monetary policy, we argue that QE may shift the negative relationship between most commodities’ real returns and the expected real interest rates to a positive one over a short horizon.

Keywords: QE, commodity price, interest rate, wavelet coherence

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Authors: Zhankun Wang, Timothy Makubuya

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The efficiency of public sports service of prefecture-level cities in Zhejiang from 2008 to 2012 was evaluated by applying the DEA method, then its influencing factors were also analyzed through Tobit model. Upon analysis, the results revealed the following; (i) the change in average efficiency of public sports service in Zhejiang present a smooth uptrend and at a relatively high level from 2008 to 2012 (ii) generally, the productivity of public sports service in Zhejiang improved from 2008 to 2012, the productivity efficiency varied greatly in different years, and the regional difference of production efficiency increased. (iii) The correlations for urbanization rate, aging rate, per capita GDP and the population density were significantly positive with the public sports service efficiency in Zhejiang, of which the most significant was the aging rate. However, the population density and per capita GDP had less impact on the efficiency of public sports service in Zhejiang. In addition, whether the efficiency of public sports services in different areas in Zhejiang reciprocates to overall benefits in public wellbeing in both rural and urban settings is still arguable.

Keywords: DEA model, public sports service, efficiency, Tobit model, Malmquist productivity index, Zhejiang

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Authors: Rene Valdiviezo-Issa

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In this paper, we use Mexico’s Households Income and Expenditures (ENIGH) survey to explain the behaviour that the urban-rural expenditure gap has had since Mexico’s incorporation to the North American Free Trade Agreement (NAFTA) in 1994 and we compare it with the latest available survey, which took place in 2014. We use real trimestral expenditure per capita (RTEPC) as the measure of welfare. We use quantile regressions and a quantile regression decomposition to describe the gap between urban and rural distributions of log RTEPC. We discover that the decrease in the difference between the urban and rural distributions of log RTEPC, or inequality, is motivated because of a deprivation of the urban areas, in very specific characteristics, rather than an improvement of the urban areas. When using the decomposition we observe that the gap is primarily brought about because differences in returns to covariates between the urban and rural areas.

Keywords: quantile regression, urban-rural inequality, inequality in Mexico, income decompositon

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Authors: Sašo Pečnik, Borut Žalik

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This paper presents a real-time visualization technique and filtering of classified LiDAR point clouds. The visualization is capable of displaying filtered information organized in layers by the classification attribute saved within LiDAR data sets. We explain the used data structure and data management, which enables real-time presentation of layered LiDAR data. Real-time visualization is achieved with LOD optimization based on the distance from the observer without loss of quality. The filtering process is done in two steps and is entirely executed on the GPU and implemented using programmable shaders.

Keywords: filtering, graphics, level-of-details, LiDAR, real-time visualization

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Authors: Jonardan Koner

Abstract:

The study attempts to find out the impact of infrastructural investment on state economic growth in India. It further tries to determine the magnitude of the impact of infrastructural investment on economic indicator, i.e., per-capita income (PCI) in Indian States. The study uses panel regression technique to measure the impact of infrastructural investment on per-capita income (PCI) in Indian States. Panel regression technique helps incorporate both the cross-section and time-series aspects of the dataset. In order to analyze the difference in impact of the explanatory variables on the explained variables across states, the study uses Fixed Effect Panel Regression Model. The conclusions of the study are that infrastructural investment has a desirable impact on economic development and that the impact is different for different states in India. We analyze time series data (annual frequency) ranging from 1991 to 2010. The study reveals that the infrastructural investment significantly explains the variation of economic indicators.

Keywords: infrastructural investment, multiple regression, panel regression techniques, economic development, fixed effect dummy variable model

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Authors: B. Sudhakara Reddy

Abstract:

In modern economy, energy is fundamental to virtually every product and service in use. It has been developed on the dependence of abundant and easy-to-transform polluting fossil fuels. On one hand, increase in population and income levels combined with increased per capita energy consumption requires energy production to keep pace with economic growth, and on the other, the impact of fossil fuel use on environmental degradation is enormous. The conflicting policy objectives of protecting the environment while increasing economic growth and employment has resulted in this paradox. Hence, it is important to decouple economic growth from environmental degeneration. Hence, the search for green energy involving affordable, low-carbon, and renewable energies has become global priority. This paper explores a transition to a sustainable energy system using the socio-economic-technical scenario method. This approach takes into account the multifaceted nature of transitions which not only require the development and use of new technologies, but also of changes in user behaviour, policy and regulation. The scenarios that are developed are: baseline business as usual (BAU) as well as green energy (GE). The baseline scenario assumes that the current trends (energy use, efficiency levels, etc.) will continue in future. India’s population is projected to grow by 23% during 2010 –2030, reaching 1.47 billion. The real GDP, as per the model, is projected to grow by 6.5% per year on average between 2010 and 2030 reaching US$5.1 trillion or $3,586 per capita (base year 2010). Due to increase in population and GDP, the primary energy demand will double in two decades reaching 1,397 MTOE in 2030 with the share of fossil fuels remaining around 80%. The increase in energy use corresponds to an increase in energy intensity (TOE/US $ of GDP) from 0.019 to 0.036. The carbon emissions are projected to increase by 2.5 times from 2010 reaching 3,440 million tonnes with per capita emissions of 2.2 tons/annum. However, the carbon intensity (tons per US$ of GDP) decreases from 0.96 to 0.67. As per GE scenario, energy use will reach 1079 MTOE by 2030, a saving of about 30% over BAU. The penetration rate of renewable energy resources will reduce the total primary energy demand by 23% under GE. The reduction in fossil fuel demand and focus on clean energy will reduce the energy intensity to 0.21 (TOE/US$ of GDP) and carbon intensity to 0.42 (ton/US$ of GDP) under the GE scenario. The study develops new ‘pathways out of poverty’ by creating more than 10 million jobs and thus raise the standard of living of low-income people. Our scenarios are, to a great extent, based on the existing technologies. The challenges to this path lie in socio-economic-political domains. However, to attain a green economy the appropriate policy package should be in place which will be critical in determining the kind of investments that will be needed and the incidence of costs and benefits. These results provide a basis for policy discussions on investments, policies and incentives to be put in place by national and local governments.

Keywords: energy, renewables, green technology, scenario

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Authors: Deng Tingting

Abstract:

There is a very close interaction between the rapid development of the real estate industry and regional urbanization. The real estate problem can be boiled down to the problem of urbanization, in essence. The growth of hundreds of millions of people in the future will determine the development of low-level demand in the real estate market. At the same time, the practical problems of urbanization also seriously restrict the healthy development of real estate itself. The latter two interact with each other by adjusting the industrial structure, economic aggregate, regional population flow, and many other linkage factors. Through the case analysis of Chongqing, this paper finds that the urbanization of Chongqing and the overall development level of the real estate industry are still in the stage of development and upgrading, and its development potential and future development and application space are still very large. Therefore, from the perspective of the regional economy, studying the interaction between the two is of great significance to accelerate the process of urbanization in Chongqing, promote the healthy development of the real estate industry, and promote the rapid growth of the regional economy.

Keywords: urbanization, demographics, real estate, interrelationships

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Authors: Waheed O. Majekodunmi

Abstract:

Climate change is a real global phenomenon and an unquestionable threat to our quest for a healthy and livable planet. It is now regarded as potentially the most monumental environmental challenge people and the planet will be confronted with over the next centuries. Expectedly, climate change mitigation was one of the central themes of COP 28. Despite contributing the least to climate change, Africa is and remains the hardest hit by the negative consequences of climate change including poor growth performance. Currently, it is being hypothesized that the high level of vulnerability and exposure to climate-related disasters, low adaptive capacity against global warming and high mitigation costs of climate change across the continent could be linked to the recent abysmal economic performance of African countries, especially in oil-producing countries where greenhouse gas emissions, is potentially more prevalent. This paper examines the impact of climate change on the economic performance of selected oil-producing countries in Africa using evidence from Nigeria, Algeria and Angola. The objective of the study is to determine whether or not climate change influences the economic performance of oil-producing countries in Africa by examining the nexus between economic growth and climate-related variables. The study seeks to investigate the effect of climate change on the pace of economic growth in African oil-producing countries. To achieve the research objectives, this study utilizes a quantitative approach by using historical and current secondary data sets to determine the relationship between climate-related variables and economic growth variables in the selected countries. The study employed numbers, percentages, tables and trend graphs to explain the trends or common patterns between climate change, economic growth and determinants of economic growth: governance effectiveness, infrastructure, macroeconomic stability and regulatory efficiency. Results from the empirical analysis of data show that the trends of economic growth and climate-related variables in the selected oil-producing countries are in the opposite directions as the increasing share of renewable energy sources in total energy consumption and the reduction in greenhouse gas emissions per capita in the oil-producing countries did not translate to higher economic growth. Further findings show that annual surface temperatures in the selected countries do not share similar trends with the food imports ratio and GDP per capita annual growth rate suggesting that climate change does not impact significantly agricultural productivity and economic growth in oil-producing countries in Africa. Annual surface temperature was also found to not share a similar pattern with governance effectiveness, macroeconomic stability and regulatory efficiency reinforcing the claim that some economic growth variables are independent of climate change. The policy implication of this research is that oil-producing African countries need to focus more on improving the macroeconomic environment and streamlining governance and institutional processes to boost their economic performance before considering the adoption of climate change adaptation and mitigation strategies.

Keywords: climate change, climate vulnerability, economic growth, greenhouse gas emissions per capita, oil-producing countries, share of renewable energy in total energy consumption

Procedia PDF Downloads 16