scholarly journals GDP and Public Expenditure in Education, Health, and Defense. Empirical Research for Greece

Mathematics ◽  
2021 ◽  
Vol 9 (18) ◽  
pp. 2319
Author(s):  
Kyriaki Efthalitsidou ◽  
Eleni Zafeiriou ◽  
Konstantinos Spinthiropoulos ◽  
Ioannis Betsas ◽  
Nikolaos Sariannidis
Keyword(s):  
National Income ◽  
Public Expenditures ◽  
The Public ◽  
Long Run ◽  
Time Period ◽  
Short Run ◽  
Scientific Value ◽  
Relationship Of ◽  
The Relationship ◽  
Public Expenditure In Education

Wagner Law and Keynesian approaches are the two fundamental theories of public finance. The aim of this study is to assess empirical evidence for the public spending–national income relationship at a disaggregated level for the time period 1995–2019. The sectoral public expenditures include education, health, and defense. The data employed were derived by EUROSTAT and OECD. Based on our findings, a sole relationship of the variables was validated, while the causality of the relationship provides conflict results depending on whether two-variate or multivariate methodology is employed. In the case of the multivariate framework that outperforms the two-variate approach in terms of information, the causality is directed from government expenses to the GDP level, validating the Keynesian approach in the long run as well as in the short run. On the other hand, the results validate Wagner Law based on the results of Granger causality pairwise test. A potential interpreatation for the results found is related to the measures imposed by the Memorandum, since the disproportionate cuts of the public expenses in the period of crisis have determined the evolution of national income. The scientific value of the presents study stands on the suggestion of potential effective measures aiming at the limitation of national income shrinkage in periods of severe economic crises worldwide.

scholarly journals Price Appreciation and Roughness Duality in Bitcoin: A Multifractal Analysis

Mathematics ◽  
2021 ◽  
Vol 9 (17) ◽  
pp. 2088
Author(s):  
Cristiana Vaz ◽  
Rui Pascoal ◽  
Helder Sebastião
Keyword(s):  
Fluctuation Analysis ◽  
Informational Efficiency ◽  
Comprehensive Overview ◽  
Multifractal Detrended Fluctuation Analysis ◽  
Long Range Correlations ◽  
The Public ◽  
Long Run ◽  
Short Run ◽  
The Relationship

Since its launch in 2009, bitcoin has thrived, attracting the attention of investors, regulators, academia, and the public in general. Its price dynamics, characterized by extreme volatility, severe jumps, and impressive long-term appreciation, suggest that bitcoin is a new digital asset. This study presents a comprehensive overview of the fractality of bitcoin in a high-frequency framework, namely by applying Multifractal Detrended Fluctuation Analysis (MF-DFA) and a Multifractal Regime Detecting Method (MRDM) to Bitstamp 1 min bitcoin returns from January 2013 to July 2020. The results suggest that bitcoin is multifractal, with smaller and larger fluctuations being persistent and anti-persistent, respectively. Multifractality comes from significant long-range correlations, which cast some doubts on the informational efficiency at this frequency, but mainly comes from fat-tails, which highlights the significant risks undertaken by investors in this market. Our most important result is that the degree and richness of multifractality is time-varying and increased after 2017, when volumes and prices experienced an explosive behaviour. This complexity puts into perspective the duality of bitcoin: while it is characterized by long-run attractiveness and increasing valuation, it also has a high short-run instability. Hence, this study provides some empirical evidence supporting the relationship between these two observable features.

scholarly journals Adaptation and Loss Aversion in the Relationship Between GDP and Subjective Well-Being

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Matti Hovi ◽  
Jani-Petri Laamanen
Keyword(s):  
Economic Growth ◽  
Loss Aversion ◽  
National Income ◽  
Well Being ◽  
Macro Level ◽  
Subjective Well Being ◽  
Long Run ◽  
Short Run ◽  
The Relationship ◽  
Over Time

Abstract We examine the roles of macro-level adaptation — including social comparison effects becoming more important over time — and macroeconomic loss aversion in the time-series relationship between national income and subjective well-being. Models allowing for these phenomena are applied to cross-country panel data. We find evidence for macroeconomic loss aversion that becomes more important over time: the effects of economic growth become small and statistically insignificant in the long run, whereas the effects of contractions are large and long-lasting. The results are consistent with the Easterlin paradox and point to it being explained by macro-level adaptation to economic growth. Our results highlight the importance of allowing for both dynamics to distinguish long-run from short-run effects and asymmetries to recognize the important effects of contractions. Failing to do the former leads to a misleading impression of the long-run relationship between economic growth and well-being.

scholarly journals Tax Revenue and Government Expenditure in Sri Lanka: An Econometric AEG Testing Approach

2016 ◽  
Vol 66 ◽  
pp. 31-37 ◽  
Author(s):  
A.L.M. Aslam
Keyword(s):  
Sri Lanka ◽  
Government Expenditure ◽  
Tax Revenue ◽  
Long Run ◽  
Short Run ◽  
Independent Variable ◽  
The Government ◽  
Relationship Of ◽  
The Relationship ◽  
Cointegration Relationship

In the global economic administration, tax revenue has been identified as the engine of the government expenditure, but the relationship of them was not investigated econometrically, this situation formulated a research gap for tasting the relationship of them. The aim of this study was to examine the Cointegration relationship among the tax revenue and the government expenditure in Sri Lanka. This study considered two time series variables such as the tax revenue and the government expenditure. The tax revenue was considered as the independent variable and the government expenditure was considered as the dependent variable. The sample period of this study was from 1950 to 2013.The Cointegration technique was used to check the long run relationship and the Error Correction Mechanism was employed to investigate the short run behavior of the tax revenue on the government expenditure. According to the empirical results, the R-squared of the estimated model was 0.99. In the meantime, the Durbin Watson statistics was 0.828. However, this model did not suffer from the spurious problem because the residual of this model was stationary. The tax revenue has sustained positive relationship with government expenditure. And also, the partial coefficients of tax revenue and its probability values in the estimated model were 0.695 (0.000) in short run and 1.031 (0.000) in long run periods. Therefore, the tax revenue and government expenditure had cointegrated at level form I(0) and maintained the long and short run relationship between them.

scholarly journals Food Insecurity, Population Growth, Urbanization and Water Availability: The Role of Government Stability

2021 ◽  
Vol 13 (22) ◽  
pp. 12336
Author(s):  
Shazia Kousar ◽  
Farhan Ahmed ◽  
Amber Pervaiz ◽  
Štefan Bojnec
Keyword(s):  
Water Resources ◽  
Population Growth ◽  
Food Insecurity ◽  
Water Availability ◽  
Political Stability ◽  
Series Data ◽  
Long Run ◽  
Short Run ◽  
Relationship Of ◽  
The Relationship

To examine the impact of population growth, urbanization and water availability on food insecurity, this study utilized time series data for the period of 1990–2019, from World Development Indicators (WDI), Food and Agriculture Organization (FAO), and World Bank. The study applied an Auto-regressive distributive lag (ARDL) co-integration approach to test the hypothesized relationships among modeled variables. The study found a negative and significant association of water resources and agriculture research with food insecurity while urbanization and population growth has a significant and positive impact on food insecurity in the short-run as well as in the long-run period. Moreover, the study found that political stability has a negative and significant association with food insecurity in the short-run and long-run periods. Results also indicated that political stability significantly strengthens the relationship of water resources, and agriculture research with food insecurity while political stability weakens the relationship of urbanization and food insecurity significantly.

Relationship between crime and economic affluence in India: an empirical study from 1982 to 2013

2017 ◽  
Vol 3 (1) ◽  
pp. 27-37 ◽  
Author(s):  
Avijit Debnath ◽  
Sujoy Das
Keyword(s):  
Design Methodology ◽  
Unit Root Test ◽  
Least Square ◽  
Annual Data ◽  
Content Type ◽  
Long Run ◽  
Time Period ◽  
Short Run ◽  
The Relationship ◽  
Analyze Data

Purpose There have been limited studies which investigate the interlinkage between crime and economic affluence. The purpose of this paper is to investigate the linkage between crime and economic affluence in India. Design/methodology/approach The study is based on annual data spans over the time period 1982-2013. Standard econometric tools like unit root test, co-integration and two stage least square technique have been used to analyze data and to draw inferences. Findings The study finds that crime and economic affluence are interlinked in India. However, the nature of the linkage is not uniform over the time span. It is observed that economic affluence affects violent crime positively in the long run, but crime effects affluence negatively. In the short run, however, the relationship between crime and economic affluence is observed to be reversed. Originality/value This study is first of its nature to investigate the bi-directional linkage between crime and economic affluence in India. This study helps us to understand that controlling the crime rate is the urgent need of the hour to alleviate the pace of long run economic affluence in India.

Electricity consumption and economic growth in ASEAN

2017 ◽  
Vol 5 (2) ◽  
pp. 16
Author(s):  
Ahmad Ghazali Ismail ◽  
Arlinah Abd Rashid ◽  
Azlina Hanif
Keyword(s):  
Economic Growth ◽  
Energy Use ◽  
Electricity Consumption ◽  
Panel Estimation ◽  
Real Gdp ◽  
Long Run ◽  
Bidirectional Relationship ◽  
Short Run ◽  
Using Data ◽  
The Relationship

The relationship and causality direction between electricity consumption and economic growth is an important issue in the fields of energy economics and policies towards energy use. Extensive literatures has discussed the issue, but the array of findings provides anything but consensus on either the existence of relations or direction of causality between the variables. This study extends research in this area by studying the long-run and causal relations between economic growth, electricity consumption, labour and capital based on the neo-classical one sector aggregate production technology mode using data of electricity consumption and real GDP for ASEAN from the year 1983 to 2012. The analysis is conducted using advanced panel estimation approaches and found no causality in the short run while in the long-run, the results indicate that there are bidirectional relationship among variables. This study provides supplementary evidences of relationship between electricity consumption and economic growth in ASEAN.

ANALISIS PENGARUH EKSPOR TERHADAP PERTUMBUHAN EKONOMI INDONESIA

2017 ◽  
Vol 11 (1) ◽  
pp. 1-20
Author(s):  
Ari Mulianta Ginting
Keyword(s):  
Economic Growth ◽  
Export Performance ◽  
Descriptive Analysis ◽  
Correction Model ◽  
Administration System ◽  
Long Run ◽  
Short Run ◽  
Available Information ◽  
Increasing Trends ◽  
The Relationship

Ekspor merupakan salah satu faktor terjadinya peningkatan pertumbuhan ekonomi suatu negara, sejalan dengan hipotesis export-led growth (ELG). Penelitian ini menganalisis perkembangan ekspor dan pertumbuhan ekonomi Indonesia periode kuartal I 2001 sampai dengan kuartal IV 2015. Penelitian ini menggunakan analisis deskriptif dalam menggambarkan perkembangan pertumbuhan ekonomi serta ekspor dan analisis kuantitatif metode Error Correction Model (ECM) dalam menganalisis efek jangka panjang dan jangka pendek dari ekspor terhadap pertumbuhan ekonomi. Pada periode penelitian, data yang ada menunjukkan bahwa ekspor dan pertumbuhan ekonomi Indonesia sama-sama mengalami peningkatan. Hasil regresi ECM menunjukkan bahwa ekspor memiliki pengaruh yang positif dan signifikan secara statistik terhadap pertumbuhan ekonomi Indonesia, yang mendukung hipotesis bahwa ELG berlaku untuk Indonesia. Berdasarkan hasil penelitian ini, maka untuk mendorong pertumbuhan ekonomi Indonesia diperlukan peningkatan kinerja ekspor Indonesia. Peningkatan kinerja ekspor Indonesia dapat dilakukan dengan berbagai cara, salah satunya adalah dengan perbaikan sistem administrasi ekspor, peningkatan riset dan pengembangan produk Indonesia, peningkatan sarana dan prasarana infrastruktur, stabilitas nilai tukar dan perluasan pasar non tradisional, termasuk perbaikan struktur ekspor komoditas. Export is one of the factors behind the economic growth which is in line with the export-led growth hypotesis (ELG). This research analyzes the relationship between economic growth and export of Indonesia during first quarter of 2001 until fourth quarter of 2015. It employs descriptive analysis to describe export movement and economic growth during the study period and ECM model to analyze the long run and the short run effects of export on the economic growth. The available information indicated that, during the study period, both export and economic growth showed similar increasing trends. The result of the ECM model revealed that export had a positive and statistically significant relationship with the economic growth, supporting the hypotesis of ELG in Indonesia. Hence, to accelerate economic growth, efforts are required to boost the export performance in Indonesia. The Export performance can be increased by several way, such as improving the export administration system, increasing the research and development of Indonesian products, improving the facilities and infrastructure, exchange rate stability and the non-tradisional markets expansion, and including improvement of the export commodity structure.

On the Volatile Relationship of Secularization and New Religious Movements

2017 ◽  
Author(s):  
David Holland
Keyword(s):  
Religious Movements ◽  
New Religious Movements ◽  
Illustrative Case ◽  
Religious Groups ◽  
Christian Science ◽  
The Public ◽  
Public Action ◽  
Public Square ◽  
Relationship Of ◽  
The Relationship

This chapter considers the complex relationship between secularization and the emergence of new religious movements. Drawing from countervailing research, some of which insists that new religious movements abet secularizing processes and some of which sees these movements as disproving the secularization thesis, the chapter presents the relationship as inherently unstable. To the extent that new religious movements maintain a precarious balance of familiarity and foreignness—remaining familiar enough to stretch the definitional boundaries of religion—they contribute to secularization. However, new religious movements frequently lean to one side or other of that median, either promoting religious power in the public square by identifying with the interests of existing religious groups, or emphasizing their distinctiveness from these groups and thus provoking aggressive public action by the antagonized religious mainstream. This chapter centres on an illustrative case from Christian Science history.

The Relationship of State and Society: Productive or Unproductive

2002 ◽  
Vol 18 (1) ◽  
pp. 23-45 ◽  
Author(s):  
Richard Grabowski
Keyword(s):  
Social Networks ◽  
Rural Development ◽  
Social Cohesion ◽  
Land Reform ◽  
Long Run ◽  
State And Society ◽  
The Creation ◽  
Relationship Of ◽  
The Relationship

The policies followed by patrimonial states generally involve playing one group against another and are inimical to long-run growth. Social cohesion or closure among rural groups (tenants, part-owners, etc.) provides a mechanism by which the governing elite are likely to find increased opportunities to behave in a developmental way. More strongly, this rural cohesion or closure often compels them to behave in a developmental manner. Such closure is most likely to result from broad based rural development resulting in the creation of extensive social networks via the operation of intermediaries. The prewar experiences of Japan and Korea with land reform are used to illustrate the argument.

Sign in / Sign up

Export Citation Format

Share Document