scholarly journals The Contraction of European Economic Distances through Sustainable Tourism in the Pre-Pandemic Period

2021 ◽  
Vol 24 (2) ◽  
pp. 105-134
Author(s):  
Alina-Petronela Haller
Keyword(s):  
Economic Growth ◽  
Sensitivity Analysis ◽  
Capital Stock ◽  
Gdp Per Capita ◽  
International Tourism ◽  
Short Term ◽  
Labor Market Conditions ◽  
Tourism Sector ◽  
Per Capita ◽  
General Influence

Abstract The current importance of tourism leads us to analyze the extent to which the receipts from international tourism, and tourism in general, influence the capacity of European countries to reduce the development gaps of this sector in the European context and the extent to which the economic growth is sensitive to changes in tourist arrivals, tourism receipts and expenditures. Studying the GDP per capita and the receipts from international tourism for the period 1995-2017, we find that the European tourism has an important role in economy but secondary to capital stock and exports. The methodology used is a sensitivity analysis and a multiple linear regression with two models. The results show that, on short term, the gap in the European tourism sector is explained by the ability to attract income from the international tourism. The European growth of the tourism sector depends to a large extent on the amount of expenditures that tourists are making, on tourism receipts and, to a lesser extent, on tourist arrivals, but in all cases, the connection is a direct and positive one but, even so, the capital stock and the exports continue to play a very important role for the European economy. The analysis suggests that tourism is not a panacea for growth. On the contrary, it is one of the activities that stimulate growth along with investments, technology, or any other form of capital, together with exports and labor market conditions.

The relationship between energy consumption and economic growth: New evidence from Greece

2021 ◽  
pp. 131-153
Author(s):  
Antonia Gkergki
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Gdp Per Capita ◽  
Short Term ◽  
Vector Error Correction ◽  
Per Capita ◽  
Econometric Tests ◽  
The Government ◽  
New Research ◽  
The Relationship

This paper examines the relationship between the energy consumption and economic growth from 1968 to 2019 in Greece, by employing the vector error-correction model estimation. A series of econometric tests are employed concerning the stationary of the data, and the co-integration and the relationship among the variables during the long- and short-term. The em-pirical results suggest that there is no bidirectional relationship between economic growth and energy consumption. More specifically, GDP per capita does not affect the energy consump-tion of the three primary sources either in the long-term or the short-term. In other words, the economic crisis and its implications for GDP do not affect energy consumption, and they are not responsible for the considerable decrease in energy sources' consumption. On the other hand, the energy consumption of oil and coal negatively affect the GDP per capita. These re-sults are different from previous studies' conclusions for Greece; this is because the never been experienced before. These findings raise new research questions and also show the limi-tations of the Greek market, as it is regulated and controlled by the government.

scholarly journals Quantifying the Relationship Between GDP Per Capita and Inequality in the Balkan Region

2021 ◽  
Vol 14 (2) ◽  
pp. 7-13
Author(s):  
Edgar J. Saucedo-Acosta ◽  
Keyword(s):  
Economic Growth ◽  
Low Income ◽  
Capital Stock ◽  
Financial Inclusion ◽  
Gdp Per Capita ◽  
Balkan Countries ◽  
Balkan Region ◽  
Per Capita ◽  
Low Levels ◽  
The Relationship

Purpose:The paper aims to estimate the effect of inequality on the economic growth of Balkan countries for the period 2001-2017. In addition, the effect of capital stock on GDP per capita (GDPpc) for the Balkan countries was estimated. The low level of financial inclusion on the Balkan region produces an underinvestment of human capital and affects the low-income households, leading to an increase in inequality. Low levels of equality and capital stock negatively impact economic growth.

scholarly journals Examining GDP Growth and Its Volatility: An Episodic Approach

Entropy ◽  
2021 ◽  
Vol 23 (7) ◽  
pp. 890
Author(s):  
Jakub Bartak ◽  
Łukasz Jabłoński ◽  
Agnieszka Jastrzębska
Keyword(s):  
Economic Growth ◽  
Genetic Algorithm ◽  
Time Series ◽  
Human Capital ◽  
Growth Rates ◽  
Structural Breaks ◽  
Negative Relationship ◽  
Gdp Per Capita ◽  
Gdp Growth ◽  
Per Capita

In this paper, we study economic growth and its volatility from an episodic perspective. We first demonstrate the ability of the genetic algorithm to detect shifts in the volatility and levels of a given time series. Having shown that it works well, we then use it to detect structural breaks that segment the GDP per capita time series into episodes characterized by different means and volatility of growth rates. We further investigate whether a volatile economy is likely to grow more slowly and analyze the determinants of high/low growth with high/low volatility patterns. The main results indicate a negative relationship between volatility and growth. Moreover, the results suggest that international trade simultaneously promotes growth and increases volatility, human capital promotes growth and stability, and financial development reduces volatility and negatively correlates with growth.

scholarly journals Examining the connection among national tourism expenditure and economic growth in Algeria

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Salah Eddine Sari Hassoun ◽  
Khayereddine Salim Adda ◽  
Asma Hadjira Sebbane
Keyword(s):  
Economic Growth ◽  
Structural Break ◽  
Unit Root Test ◽  
Vector Autoregressive ◽  
Natural Logarithm ◽  
Tourism Sector ◽  
Strategic Role ◽  
Short Run ◽  
Per Capita ◽  
Tourism Expenditure

AbstractTourism is one of the most important sectors for several researchers and decision makers, due to its influence on the world economic growth in the twenty-first century, making it as a source of competition between countries to a global industry for its effective strategic role in the development of countries. In this paper, we used two variables natural logarithm of per capita gross domestic product (GDP) and natural logarithm of per capita international and national tourism expenditure (ITE) to study the relationship between the tourism sector and economic growth in Algeria over the period of 1995–2017. We established with the unit root test with and without breakpoint that the variables are stationary in the first difference and there is a structural break in (ITE) and (GDP). Thus, with the presence of a breakpoint, we employed the methodology of Gregory–Hansen to avoid such issue, but we found that there was no evidence of cointegration with breakpoint, so then we used the vector autoregressive model (VAR). The model showed that the tourism sector has a positive and insignificant coefficient on the economic growth, while the economic growth factor has a positive and significant on the tourism sector. In the short run, there was a one-way causality from GDP to ITE at the level of 1%, confirming the economic-driven tourism growth hypothesis. Also, we found with Breitung and Candelon causality that there was same causality at the level of 10%.

HUMAN RESOURCES DEVELOPMENT OF REPUBLIC OF CROATIA AND PRIMORSKOGORANSKA COUNTY AND THEIR INFLUENCE ON ECONOMIC GROWTH∗

2009 ◽  
Vol 15 (1) ◽  
pp. 13-24
Author(s):  
Nada Karaman Aksentijevic ◽  
Zoran Jezic
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Human Resources ◽  
Gdp Per Capita ◽  
Human Resources Development ◽  
Regression Analyses ◽  
Theoretical Part ◽  
Educational Structures ◽  
Indirect Indicator ◽  
Per Capita

In the theoretical part of research authors will establish connections and diversities between human capital and human resources categories. In the empirical part of research, via HDI, it will be evaluated the development of human resources in Republic Of Croatia and in Primorsko-goranska County and in will be evaluated relation between HDI and GDP per capita of Croatia and in Primorsko-goranska County. Authors will also analyze how much development of human resources has contributed to the economic growth of Republic Of Croatia. In order to demonstrate this it will be measured influence of investment, employment and educational structures (the indirect indicator of development of human resources) on the growth of GDP in the period of 1997-2005 with usage of regression analyses.

scholarly journals How Much Does Economic Growth Contribute to Child Stunting Reductions?

Economies ◽  
2018 ◽  
Vol 6 (4) ◽  
pp. 55 ◽  
Author(s):  
Sébastien Mary
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Causal Effect ◽  
Gdp Per Capita ◽  
Reverse Causality ◽  
Child Stunting ◽  
Percentage Point Increase ◽  
Child Undernutrition ◽  
Novel Approach ◽  
Per Capita

The role of economic growth in reducing child undernutrition remains an open and highly debated question that holds important implications for food security strategies. The empirical evidence has been quite contrasted, primarily in regard to the magnitude of the impacts. Yet, most studies have not (appropriately) accounted for the reverse causality between economic growth and child stunting. Using a dataset of 74 developing countries observed between 1984 and 2014, this paper develops a novel approach accounting for the reverse causal effect of stunting on GDP per capita and finds that the impacts of economic growth are much lower than estimated in most previous studies. A 10% increase in GDP per capita reduces child stunting prevalence by 2.7%. In other words, economic growth is modestly pro-poor. We also estimate that a percentage point increase in child stunting prevalence results in a 0.4% decrease in GDP per capita. A back-of-the-envelope calculation suggests that stunting costs on average about 13.5% of GDP per capita in developing countries.

Measuring the Impact of Tourism on Economic Growth

2007 ◽  
Vol 13 (3) ◽  
pp. 379-388 ◽  
Author(s):  
Stanislav Ivanov ◽  
Craig Webster
Keyword(s):  
Economic Growth ◽  
General Equilibrium ◽  
Computable General Equilibrium ◽  
Gdp Per Capita ◽  
Equilibrium Models ◽  
Computable General Equilibrium Models ◽  
Real Gdp ◽  
Real Gdp Per Capita ◽  
Per Capita ◽  
The Impact

This paper presents a methodology for measuring the contribution of tourism to an economy's growth, which is tested with data for Cyprus, Greece and Spain. The authors use the growth of real GDP per capita as a measure of economic growth and disaggregate it into economic growth generated by tourism and economic growth generated by other industries. The methodology is compared with other existing methodologies; namely, Tourism Satellite Account, Computable General Equilibrium models and econometric modelling of economic growth.

scholarly journals Desacoplamento entre as Emissões de CO2 e o PIB

2016 ◽  
Vol 2 (3) ◽  
pp. 37-53
Author(s):  
Yves Rocha De Salles Lima ◽  
Tatiane Stellet Machado ◽  
Joao Jose de Assis Rangel
Keyword(s):  
Economic Growth ◽  
Co2 Emissions ◽  
International Energy Agency ◽  
The United States ◽  
Oil Price ◽  
Gdp Per Capita ◽  
Energy Agency ◽  
The Us ◽  
Per Capita ◽  
The One

The objetive of this work is to analyze the variation of CO2 emissions and GDP per capita throughout the years and identify the possible interaction between them. For this purpose, data from the International Energy Agency was collected on two countries, Brazil and the one with the highest GDP worldwide, the United States. Thus, the results showed that CO2 emissions have been following the country’s economic growth for many years. However, these two indicators have started to decouple in the US in 2007 while in Brazil the same happened in 2011. Furthermore, projections for CO2 emissions are made until 2040, considering 6 probable scenarios. These projections showed that even if the oil price decreases, the emissions will not be significantly affected as long as the economic growth does not decelerate.

scholarly journals THE CONTRIBUTION OF MIGRATION TO ECONOMIC GROWTH: THE EXAMPLE OF THE CITY OF ZAGREB

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Vinko Miličević ◽  
Danijel Knežević ◽  
Zoran Bubaš
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Economic Activity ◽  
Economic Benefits ◽  
Gdp Per Capita ◽  
The European Union ◽  
Per Capita ◽  
The Republic ◽  
The Impact ◽  
The City

The problems in this paper belong to the field of migration and economy. The connection between migration and the economy has been proven on a global level, and as far as the Republic of Croatia is concerned, it is especially important to observe it through the City of Zagreb, which is the most important migration and economic center in the Republic of Croatia. Also, the accession of the Republic of Croatia to the European Union emphasized the observation and research of this connection because it created the preconditions for freer movement and employment of the population of the Republic of Croatia and the City of Zagreb within the European Union. The aim of this paper is to determine the contribution of migration to the economic growth of the City of Zagreb. The hypothesis presented in the paper is that there is a significant contribution of migration to the economic growth of the City of Zagreb. The disposition of the paper consists of six parts. The introduction explains the relevance of the topic, states the aim of the paper and hypotheses, explains the empirical part, the contribution of the paper and the disposition. The second part of the paper refers to the theoretical framework of the impact of migration on economic growth. The third part of the paper presents the migration processes of the City of Zagreb in the period from 2011 to 2018. The fourth part deals with economic activity in the City of Zagreb in the period from 2011 to 2017. The observed indicators of economic activity in the City of Zagreb are GDP and GDP per capita, and the graph in this part of the paper shows that GDP and GDP per capita in the observed period are higher at the end of the period than at the beginning. The fifth part of the paper refers to the empirical research of the contribution of migration to the economic growth of the City of Zagreb. The empirical part of the paper is based on correlations and regression analyses. This paper proves the hypothesis because the results indicate a significant impact of the variables of total and external migration on the GDP of the City of Zagreb and GDP per capita of the City of Zagreb. Decision-makers in the City of Zagreb can use the results of the research as a basis for maximizing the economic benefits they can get from migration. The conclusion provides an overview of the aim of the work, the results of the research, the limitations, the implications and the recommendations for future research.

scholarly journals FEATURES OF DEVELOPMENT OF TOURISM IN GEORGIA AS AN INDUSTRY CONTRIBUTING TO ECONOMIC GROWTH OF THE COUNTRY

2019 ◽  
Vol 29 (2) ◽  
pp. 279-289
Author(s):  
L.V. Detochenko
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Tourism Industry ◽  
Gdp Per Capita ◽  
Tourist Destinations ◽  
Transport Component ◽  
Tourist Flows ◽  
Per Capita ◽  
The Republic

The role and place of the tourism industry in the economic complex of Georgia are considered; the conclusion is made about the “tourist miracle” taking place in the country, which is a factor of the economic growth of the republic. The differences between the concepts of “foreign visitors” and “foreign tourists” are presented. The increase in the contribution of the tourism industry and related industries involved in the tourism industry in the creation of the gross domestic product of the country, its impact on the growth of the Georgian budget and GDP per capita, the average monthly wage is shown. The conclusion about the need to increase the share of medium and long-term tourists among foreign visitors and tourists in the country is justified. The problems of the return of tourists, the long-term stay in Georgia, the differences of the countries-generators of tourist flows by these indicators have been studied. The changes in work and the prospects of various types of transport for the delivery of tourists to Georgia are analyzed, the measures to improve the tourist transport component are proposed. The correlation between the number of tourist arrivals and the average cost of tourists visiting Georgia from different countries is shown and the economic profitability of attracting Russian tourists, capable of filling all the tourist destinations of the country, contributing to the “tourist miracle” of Georgia is considered.

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