Suchergebnisse

The quarterly GDP data were out on Thursday. Quite how one reads them probably depends on bit on where your focus lies. To the extent that the focus is on squeezing out inflation then any data that points to excess demand dissipating a bit faster is mostly a good and welcome thing. The sooner inflation is back to … Continue reading GDP per capita growth

Growth in the first three years of Biden was 3.0%, vs 2.1% under Trump (pre-pandemic). Figure 1: Per capita GDP in Ch.2017$ SAAR (gray), on log scale. Orange arrow is average growth rate 2016Q4-2019Q4; blue arrow is average growth rate 2020Q4-2023Q4. NBER peak-to-trough recession dates shaded gray. Source: BEA 2024Q2 3rd release/annual update, NBER, and […]

International audience ; This paper examines the existence of convergence and the importance of education on carbon dioxide growth per capita, over the period 1970-2004 for 85 countries. We use panel data and apply GMM-System estimation. This rigorous approach takes into account the observed and unobserved heterogeneity of countries, and solves the endogeneity problems associated with some variables. Our results suggest a divergence in per capita carbon dioxide emissions around the world, and that education is not a factor in carbon dioxide emissions growth. Contrary to commonly held beliefs based on intuition, we provide evidence that, in developing countries, there is no convergence, and that education is not a factor in carbon dioxide growth. In developed countries, we find a convergence for per capita carbon dioxide emissions. Education was found to be a factor in pollution growth, although its effect is mitigated by the presence of political institutions.

International audience ; This paper examines the existence of convergence and the importance of education on carbon dioxide growth per capita, over the period 1970-2004 for 85 countries. We use panel data and apply GMM-System estimation. This rigorous approach takes into account the observed and unobserved heterogeneity of countries, and solves the endogeneity problems associated with some variables. Our results suggest a divergence in per capita carbon dioxide emissions around the world, and that education is not a factor in carbon dioxide emissions growth. Contrary to commonly held beliefs based on intuition, we provide evidence that, in developing countries, there is no convergence, and that education is not a factor in carbon dioxide growth. In developed countries, we find a convergence for per capita carbon dioxide emissions. Education was found to be a factor in pollution growth, although its effect is mitigated by the presence of political institutions.

In this study, the efficacy of globalization in influencing income growth within the Sub-Saharan Africa (SSA) from 1982 to 2020 is being examined. The "Konjunkturforschungsstelle Globalization Index" (KOFGI) was used to measure globalization at the overall, economic, social, and political level, while income growth was captured using the growth rate of gross national income per capita. The data employed in the analysis were gotten from World Bank and KOFGI database. The analysis follows a sequential order of unit root test based on the augmented Dickey-Fuller, autoregressive distributed lag (ARDL) bounds test for cointegration, and error correction model. The unit root test revealed that the order of integration of the variables were mixed at levels and first difference. The bounds test showcased that all the dimensions of globalization exhibited long-run association with income growth. The short-run result indicated that globalization wielded a negative and significant effect on income growth. A unit percent increase in globalization put forth a 1.3818% decrease in income growth. In the long-run, globalization however exerted a positive but insignificant sway on income growth in the SSA. The implication of this is that though globalization poses a short-run negative impact on income growth, the SSA can move along the learning curve to derive some long-term benefits that emanate from global interactions. It becomes pertinent for the SSA to see globalization as a long-term avenue for propelling income growth, bearing in mind that the short-run negative effect can be corrected periodically as the economy moves along the learning curve of globalization.