Based on the data of Japanese Prime metropolitan area from 1955 to 2013, this paper studies the effect of industry agglomeration and population aggregation on economic growth in Tokyo metropolitan area. Through the processing of the panel data, we find that the industry agglomeration in Japanese Prime metropolitan region has apparently positive impacts on its economic growth, and also, population aggregation can positively effects its economic growth. Following this paper is try to carry out research on Tokyo —the core city of Japanese Prime metropolitan area, to study the influence of industry agglomeration on its economic growth. This paper thinks that in the process of the development of the city group, due to resource constraints, the manufacturing output unit of land demand big industry will gradually from the degree of economic development is relatively high in the whole city and the city to evacuate, inside, labor resources are gradually to the regional flow of high GDP per capita output.
National Income, Strategic Discontinuity, and Converging Trajectories of Macr...Przegląd Politologiczny
The framework of converging trajectories of macroeconomic policy initiatives is employed
in the context of strategic discontinuity to study the national income of an advancing economy. A model
of systemic changes based upon an equation of production and consumption is presented. In this study
of the Chinese economy of 1980–2014, over time, the dynamics of policy imbalance is found to decrease considerably, which is consistent with the decreasing trend of shrinking the differences among
the impact coefficients of government consumption, private investment, and private consumption.
Examining the Impact of Export-Led Growth Strategy: Evidences From Nigeria (1...inventionjournals
The Nigerian economy had for decades been dependent on the fragile leg of crude oil exports. An emerging trend however suggests that in the last ten years the economy was growing without job creation and poverty reduction consequent upon fall in the international oil markets. Expectedly, attention of scholars had shifted towards the development of non-oil exports as a substitute for this quagmire. This study analyses Export-Led Growth Strategy in Nigeria using Annual Data between 1960 and 2015. The study adopted the Autoregressive Distributed Lag (ARDL) Approach on a modified Cobb Douglass Production Function in the analysis. The choice of ARDL is informed by many considerations: it can be used irrespective of whether the regressors are I(1) or I(0) or a mixture of both. Results of the findings revealed that oil exports are directly related to GDP while non-oil exports are not, and implacably non-oil exports do not impact on GDP. The study also revealed that there is a long run relationship between GDP and both components of exports (oil and nonoil) which can be used to determine the possible direction of GDP. And in case of distortion in the economy, equilibrium can be restored at 12 per cent growth rate per annum as one of the study revelations. The study among others recommends that government should diversify the economy to ensure maximum contributions from all facets of the same to enhance economic growth of the country.
Using time series data, this study investigated the effect of aggregated and disaggregated public spending on economic growth in Nigeria during the period 1980 – 2015. Time series data such as aggregated expenditure proxy by total federal government expenditure (TFGE), disaggregated expenditure proxy by recurrent expenditure (REXP) and capital expenditure (CEXP,) and economic growth proxy by GDP were obtained from central bank of Nigeria (CBN) statistical bulletin. Error Correction Model (ECM) was used to estimate the model. The result of the finding revealed that the total federal government expenditure (TFGE) and capital expenditure (CEXP) exerts positive and significant influences on GDP while recurrent expenditure (REXP) has a positive and insignificant influence on GDP. This implies that the higher the public spending, the higher the GDP. The researchers therefore, recommend that for sustainable Economic Growth (GDP), federal government should increase capital expenditure by allocating more funds to the productive sector of the economy. More so, the positive contributions of public spending to economic growth necessitate the continued use of fiscal policy instruments to pursue macroeconomic objectives in Nigeria.
National Income, Strategic Discontinuity, and Converging Trajectories of Macr...Przegląd Politologiczny
The framework of converging trajectories of macroeconomic policy initiatives is employed
in the context of strategic discontinuity to study the national income of an advancing economy. A model
of systemic changes based upon an equation of production and consumption is presented. In this study
of the Chinese economy of 1980–2014, over time, the dynamics of policy imbalance is found to decrease considerably, which is consistent with the decreasing trend of shrinking the differences among
the impact coefficients of government consumption, private investment, and private consumption.
Examining the Impact of Export-Led Growth Strategy: Evidences From Nigeria (1...inventionjournals
The Nigerian economy had for decades been dependent on the fragile leg of crude oil exports. An emerging trend however suggests that in the last ten years the economy was growing without job creation and poverty reduction consequent upon fall in the international oil markets. Expectedly, attention of scholars had shifted towards the development of non-oil exports as a substitute for this quagmire. This study analyses Export-Led Growth Strategy in Nigeria using Annual Data between 1960 and 2015. The study adopted the Autoregressive Distributed Lag (ARDL) Approach on a modified Cobb Douglass Production Function in the analysis. The choice of ARDL is informed by many considerations: it can be used irrespective of whether the regressors are I(1) or I(0) or a mixture of both. Results of the findings revealed that oil exports are directly related to GDP while non-oil exports are not, and implacably non-oil exports do not impact on GDP. The study also revealed that there is a long run relationship between GDP and both components of exports (oil and nonoil) which can be used to determine the possible direction of GDP. And in case of distortion in the economy, equilibrium can be restored at 12 per cent growth rate per annum as one of the study revelations. The study among others recommends that government should diversify the economy to ensure maximum contributions from all facets of the same to enhance economic growth of the country.
Using time series data, this study investigated the effect of aggregated and disaggregated public spending on economic growth in Nigeria during the period 1980 – 2015. Time series data such as aggregated expenditure proxy by total federal government expenditure (TFGE), disaggregated expenditure proxy by recurrent expenditure (REXP) and capital expenditure (CEXP,) and economic growth proxy by GDP were obtained from central bank of Nigeria (CBN) statistical bulletin. Error Correction Model (ECM) was used to estimate the model. The result of the finding revealed that the total federal government expenditure (TFGE) and capital expenditure (CEXP) exerts positive and significant influences on GDP while recurrent expenditure (REXP) has a positive and insignificant influence on GDP. This implies that the higher the public spending, the higher the GDP. The researchers therefore, recommend that for sustainable Economic Growth (GDP), federal government should increase capital expenditure by allocating more funds to the productive sector of the economy. More so, the positive contributions of public spending to economic growth necessitate the continued use of fiscal policy instruments to pursue macroeconomic objectives in Nigeria.
Analysis of Public Investment Expenditure on Economic Growth in WAEMU Countriesinventionjournals
Public investment expenditure plays an important role in the economy to produce goods and services needed for economic development. This study analyzes the influence of public investment spending on the economic growth of the WAEMU zone. The study considers a linear approach through individual fixed effects models with Beck-Katz and Driscoll-Kraay corrections, the spatial autocorrelation model (SAC) and the longterm model (DOLS). The empirical results of the study using panel data covering the period 1990-2015 indicate that public investment spending can promote economic growth in WAEMU countries when they are allocated in decreasing order to Education, health, public investment in basic road infrastructure and agriculture. However, they are also likely to slow it down when they focus on military spending, even though their primary objective is to ensure security for economic development. Finally, the study recommends that policy makers in WAEMU countries refocus their public expenditure policies in key sectors of development, notably human capital, in order to ensure a multiplier effect of public spending on economic growth and strengthen institutions Democracy to ensure their independence through their interdependence.
The document provides a general overview of the economy in Sri Lanka from the time of Independence in 1948 to the Present era in terms of policy changes, the general affect on different regime changes on the economy and how they have molded the present situation in Sri Lanka in a macro economic perspective.
The impact of Scientific Research and Development on economic growth – Compar...inventionjournals
Increasing Research and Development (R&D) has been considered one of the most important strategies to ensure innovation, stimulate technological development and promote economic growth. The investigation on this subject assesses whether R&D promotes economic growth, but doesn’t measure the proportion of economic growth that is attributable to these activities. Following the methodology proposed by Ivanov and Webster(2007), the aim within this investigation is to quantify the contribution of Scientific R&D services to economic growth in Portugal and compare it with the EU15. For this purpose, economic growth of Portuguese economy and EU15 are disaggregated into economic growth generated by Scientific R&D and by the other economic activities, evaluating, in an ex-post analysis, what proportion of that growth was generated by Scientific R&D services. For an average annual real growth rate per capita of the Portuguese economy of 0.46% in 2001-2011, the results suggest that growth of Scientific R&D activities contributed by 0.01% for that growth. In the EU15 the average growth rate was 0.82%, but the contribution of Scientific R&D was only 0.005%, behalf of the verified in Portugal. This suggest that the promotion of Scientific R&D activities emerges as an important source of growth in the Portuguese economy.
In this paper, we analyze the demographic and economic consequences of endogenous migrations flows over the coming decades in a multi-regions overlapping generations general equilibrium model (INGENUE 2) in which the world is divided in ten regions. Our analysis offers a global perspective on the consequences of international migration flows. The value-added of the INGENUE 2 model is that it enables us to analyze the effects of international migration on both the destination and the origin regions. A further innovation of our analysis is that international migration is treated as endogenous.
In a first step, we estimate the determinants of migration in an econometric model. We show, in particular, that the income differential is one of the key variables explaining migration flows. In a second step, we endogenize migration flows in the INGENUE 2 model. In order to do so, we use the econometrically estimated relationships between demographic and income developments in the INGENUE model, which enables us to project long-run migration flows and to improve on projections of purely demographic models.
Authored by: Vladimir Borgy, Xavier Chojnicki, Gelles Le Garrec, Cyrille Schwellnus
Published in 2009
Revisiting the link between government spending and economic growth in the pr...iosrjce
This paper aims to revisit the link between government spending and economic growth in the present
of Wagner’s Law in Nigeria from 1972-2011. The examination is based on the functional form of Wagner Law
augmented by incorporating the square of GDP. We employed ARDL bound testing, combine cointegration and
Toda-Yamamoto non- Granger causality test in this study. Cointegration was found in both methods, and the
causality test supports the presence of Wagner’ Law. However, increase in GDP (i.e. Square of GDP) has an
adverse impact on economic growth. This shows that GDP as a proxy for economic growth has a certain point
from which, any additional increase will reduce government spending. Therefore, the government needs to come
up with programs that will motivate small and medium enterprises at all levels of government. Hence, the
increase in GDP in the long run, tend to reduce government expenditure, which in turn prevents deficit
financing
Japan moved towards the road of economic export-oriented development, foreign trade and foreign investment increased rapidly after World War II, and the economy recovered rapidly and came to the forefront of the world. Then, what role did foreign capital and foreign trade play in the process of economic growth? Based on the import, export FDI and GDP data of Japan from 1996 to 2015, this paper uses eviews 7.2 and co-integration test to confirm the long-term co-integration relationship between GDP and import, export, FDI. The results show that the long-term equilibrium relationship between GDP and export is positive correlation, and GDP and import, FDI are negatively related long-term equilibrium relations. The influence of Japan’s export-oriented economy on economic growth is mainly through the form of export trade.
An examination of the ccp’s strategies to alleviate discontent after the grea...Luigi Caloi
Despite the fact that the impact of the 2008 recession was bigger on the coastal regions, the CP's stimulus package went primarily to the rural regions in China. On the other hand, our tests show that urban provinces in China are more unstable than their rural counterparts.
We provide a theoretical framework and empirical evidence to explain the geographic direction of the CP's stimulus package. In short, we show that the CP's goal was to minimize political instability, by crating an incentive scheme to further encourage the reverse-migration of the “temporary population” back to their Hukou-based jurisdictions.
An Examination of the CCP’s Strategies to Alleviate Discontent After the Grea...Sahaj Sood
The following research project examines the various strategies of the Chinese Communist Party in the aftermath of the Great Recession of 2008, to reduce the discontent of the population.
Analysis of Public Investment Expenditure on Economic Growth in WAEMU Countriesinventionjournals
Public investment expenditure plays an important role in the economy to produce goods and services needed for economic development. This study analyzes the influence of public investment spending on the economic growth of the WAEMU zone. The study considers a linear approach through individual fixed effects models with Beck-Katz and Driscoll-Kraay corrections, the spatial autocorrelation model (SAC) and the longterm model (DOLS). The empirical results of the study using panel data covering the period 1990-2015 indicate that public investment spending can promote economic growth in WAEMU countries when they are allocated in decreasing order to Education, health, public investment in basic road infrastructure and agriculture. However, they are also likely to slow it down when they focus on military spending, even though their primary objective is to ensure security for economic development. Finally, the study recommends that policy makers in WAEMU countries refocus their public expenditure policies in key sectors of development, notably human capital, in order to ensure a multiplier effect of public spending on economic growth and strengthen institutions Democracy to ensure their independence through their interdependence.
The document provides a general overview of the economy in Sri Lanka from the time of Independence in 1948 to the Present era in terms of policy changes, the general affect on different regime changes on the economy and how they have molded the present situation in Sri Lanka in a macro economic perspective.
The impact of Scientific Research and Development on economic growth – Compar...inventionjournals
Increasing Research and Development (R&D) has been considered one of the most important strategies to ensure innovation, stimulate technological development and promote economic growth. The investigation on this subject assesses whether R&D promotes economic growth, but doesn’t measure the proportion of economic growth that is attributable to these activities. Following the methodology proposed by Ivanov and Webster(2007), the aim within this investigation is to quantify the contribution of Scientific R&D services to economic growth in Portugal and compare it with the EU15. For this purpose, economic growth of Portuguese economy and EU15 are disaggregated into economic growth generated by Scientific R&D and by the other economic activities, evaluating, in an ex-post analysis, what proportion of that growth was generated by Scientific R&D services. For an average annual real growth rate per capita of the Portuguese economy of 0.46% in 2001-2011, the results suggest that growth of Scientific R&D activities contributed by 0.01% for that growth. In the EU15 the average growth rate was 0.82%, but the contribution of Scientific R&D was only 0.005%, behalf of the verified in Portugal. This suggest that the promotion of Scientific R&D activities emerges as an important source of growth in the Portuguese economy.
In this paper, we analyze the demographic and economic consequences of endogenous migrations flows over the coming decades in a multi-regions overlapping generations general equilibrium model (INGENUE 2) in which the world is divided in ten regions. Our analysis offers a global perspective on the consequences of international migration flows. The value-added of the INGENUE 2 model is that it enables us to analyze the effects of international migration on both the destination and the origin regions. A further innovation of our analysis is that international migration is treated as endogenous.
In a first step, we estimate the determinants of migration in an econometric model. We show, in particular, that the income differential is one of the key variables explaining migration flows. In a second step, we endogenize migration flows in the INGENUE 2 model. In order to do so, we use the econometrically estimated relationships between demographic and income developments in the INGENUE model, which enables us to project long-run migration flows and to improve on projections of purely demographic models.
Authored by: Vladimir Borgy, Xavier Chojnicki, Gelles Le Garrec, Cyrille Schwellnus
Published in 2009
Revisiting the link between government spending and economic growth in the pr...iosrjce
This paper aims to revisit the link between government spending and economic growth in the present
of Wagner’s Law in Nigeria from 1972-2011. The examination is based on the functional form of Wagner Law
augmented by incorporating the square of GDP. We employed ARDL bound testing, combine cointegration and
Toda-Yamamoto non- Granger causality test in this study. Cointegration was found in both methods, and the
causality test supports the presence of Wagner’ Law. However, increase in GDP (i.e. Square of GDP) has an
adverse impact on economic growth. This shows that GDP as a proxy for economic growth has a certain point
from which, any additional increase will reduce government spending. Therefore, the government needs to come
up with programs that will motivate small and medium enterprises at all levels of government. Hence, the
increase in GDP in the long run, tend to reduce government expenditure, which in turn prevents deficit
financing
Japan moved towards the road of economic export-oriented development, foreign trade and foreign investment increased rapidly after World War II, and the economy recovered rapidly and came to the forefront of the world. Then, what role did foreign capital and foreign trade play in the process of economic growth? Based on the import, export FDI and GDP data of Japan from 1996 to 2015, this paper uses eviews 7.2 and co-integration test to confirm the long-term co-integration relationship between GDP and import, export, FDI. The results show that the long-term equilibrium relationship between GDP and export is positive correlation, and GDP and import, FDI are negatively related long-term equilibrium relations. The influence of Japan’s export-oriented economy on economic growth is mainly through the form of export trade.
An examination of the ccp’s strategies to alleviate discontent after the grea...Luigi Caloi
Despite the fact that the impact of the 2008 recession was bigger on the coastal regions, the CP's stimulus package went primarily to the rural regions in China. On the other hand, our tests show that urban provinces in China are more unstable than their rural counterparts.
We provide a theoretical framework and empirical evidence to explain the geographic direction of the CP's stimulus package. In short, we show that the CP's goal was to minimize political instability, by crating an incentive scheme to further encourage the reverse-migration of the “temporary population” back to their Hukou-based jurisdictions.
An Examination of the CCP’s Strategies to Alleviate Discontent After the Grea...Sahaj Sood
The following research project examines the various strategies of the Chinese Communist Party in the aftermath of the Great Recession of 2008, to reduce the discontent of the population.
Abstract: The paper examines the impact of public sectoral expenditure on economic growth in Nigeria for the period 1981-2013. It was observed that the growth of government expenditure has not fully felt by the economy. The econometric methodology employed is the ARDL model and results show that while the impact of government expenditure on administration and debt servicing were positive on economic growth in the long and short run, expenditure on economic and social sectors has negative impact. We argue that this may not be unconnected with the high level of corruption prevalent in the public sector where funds that are meant for provision or maintenance of social-economic activities like agriculture, roads, transportations, schools and hospitals are diverted for personal use. The CUSUM and CUSUMSQ test show the model is stable as neither of them cross the 5% boundary. The paper recommended that government should increase expenditure to the social and economic sectors while debts or debt servicing should be reduced. Also, corruption so prevalent in the public sector must be minimized if cannot be eradicated.
The paper examines the impact of public sectoral expenditure on economic growth in Nigeria for the period 1981-2013. It was observed that the growth of government expenditure has not fully felt by the economy. The econometric methodology employed is the ARDL model and results show that while the impact of government expenditure on administration and debt servicing were positive on economic growth in the long and short run, expenditure on economic and social sectors has negative impact. We argue that this may not be unconnected with the high level of corruption prevalent in the public sector where funds that are meant for provision or maintenance of social-economic activities like agriculture, roads, transportations, schools and hospitals are diverted for personal use. The CUSUM and CUSUMSQ test show the model is stable as neither of them cross the 5% boundary. The paper recommended that government should increase expenditure to the social and economic sectors while debts or debt servicing should be reduced. Also, corruption so prevalent in the public sector must be minimized if cannot be eradicated.
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Economics is the study of how societies use their resources to produce goods and services. It is a social science that examines the production, distribution, .... Essays in economic development ... and obstacles faced by the poorer nations of the global economy on the path to development are extremely diverse.. Free Essay: Many people think that economics is about money. Well, to some extent this is true. Economics has a lot to do with money: with how much money.... Analysis of the Tourism & Airline Industry in the UAE. Example essay. Last modified: 4th Jun 2023.. Up: Economics Network > Writing for Economics. Essay writing. The idea of setting essays is to offer you the chance to make a longer, more complex argument.. Economics essays often examine how governments can manage resources to promote economic growth. In addition, economics essays may also analyze the impact of .... evidence on three issues within the field of economic development: the effect of social networks on immigrants' labor market outcomes (first essay), .... Lionel Robbins, biography, from the Concise Encyclopedia of Economics: Robbins' most famous book was An Essay on the Nature and Significance of Economic Science .... This thesis was written while I worked at the Research Unit on Economic ... Lilja examined an earlier version of the first essay and provided useful .... The list of economic essay topics is endless – the field focuses on multiple areas of human interactions on different scales. Choosing one of the economics ...
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Empirical Assessment of the Nexus between Industrialization and Economic Grow...ijtsrd
The study examined the relationship between industrialization and the level of economic growth among nations in Africa from year 2013 to 2019. The study categorized African nations into five top industrialized nations and five least industrialized nations. Economic growth was proxy using Gross Domestic Product GDP and Per capita Gross Domestic Product GDP . Time series data on national GDP, population and level of industrialization were obtained from International Monetary Fund statistical data, the Worldometer and United Nation Industrial Development Organization UNIDO . By deploying the correlation statistics and t test aided by SPSS version 20, the study tested if there was any significant relationship between the mean GDP of the top five industrialized nations and the mean GDP of the least five industrialized nations. It further tested if there was any significance relation between the mean per capita GDP of the top five industrialized nations and the mean per capita GDP of the least five industrialized nations. Findings showed a high correlation between the mean GDP of the top five industrialized nations and the mean GDP of the least five industrialized nations. Again it was found that there is significance relationship between the mean per capita GDP of the top five industrialized nations and the mean per capita GDP of the least five industrialized nations. As both GDP and per capita GDP of both industrialized and least industrialized nations move in the same direction regardless of the level of industrialization, the study concluded that industrialization is yet to a significant relationship between GDP and per capita GDP of African nations. It was recommended, among other things, that African nations should make and implement policies that will unlock the effect of industrialization on the level of their GDPs and per capita GDPs. Ezeala George | Okeke Ijeoma "Empirical Assessment of the Nexus between Industrialization and Economic Growth of Nations: The African Perspective" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-2 , April 2023, URL: https://www.ijtsrd.com.com/papers/ijtsrd53985.pdf Paper URL: https://www.ijtsrd.com.com/management/accounting-and-finance/53985/empirical-assessment-of-the-nexus-between-industrialization-and-economic-growth-of-nations-the-african-perspective/ezeala-george
IOSR Journal of Humanities and Social Science is an International Journal edited by International Organization of Scientific Research (IOSR).The Journal provides a common forum where all aspects of humanities and social sciences are presented. IOSR-JHSS publishes original papers, review papers, conceptual framework, analytical and simulation models, case studies, empirical research, technical notes etc.
Government expenditure is a very instrumental demand tool in achieving economic stability and policy makers frequently use it to influence certain economic outcomes. Government expenditure majorly consists of two components: investment and consumption components. Many researchers concede that higher level of government consumption expenditure is growth retarding and therefore undesirable. The aim of this paper was to establish the economic determinants of government consumption expenditure in Kenya. The results showed that in the long-run, while 1USD increase in GDP causes USD1.3 increase in government consumption expenditure, a unit increase in inflation rate would cause USD1.8 increase in consumption expenditure. However, 1USD increase in foreign direct investment and external debt stock causes, respectively, USD 0.07 and USD 2.6 drop in government consumption expenditure. Corruption, democracy and political instability have positive effects on government consumption expenditure in Kenya. Urbanization and population dynamics jointly affect the variable in the short-run. This paper recommends that the government should strengthen its institutions that are mandated to deal with graft cases, create peaceful political setting at all times and ensure a friendly environment to foreign investors.
ECON251 INDUSTRY AND TRADE IN ASIA Tutorial 3 [Topic .docxmadlynplamondon
ECON251
INDUSTRY AND TRADE IN ASIA
Tutorial 3 [Topic 6 -8]
SECTION A : DATA ANALYSIS AND CASE STUDY
Question 1 The small successful Economies - Singapore and Hong Kong – A tale of 2 cities
Background 1: The economics model
The Solows Economic Growth model
Y = A LSL KSK
Where
• Y is output or GDP;
• A is Total factor Productivity (TFP);
TFP in general refers to technical improvements that allow for GDP growth without any corresponding
increase in labour or capital.
This could be through any type of improvements in underlying technology, such as an improvement in
production methodology (Howitt and Aghion, 1998) or a decrease in per unit costs (Harberger, 1998).
TFP can also be accrued due to external factors as externalities, economies of scale, and investment-
specific technical change etc
• K and L are capital and labour inputs respectively; and
• SK and SL are the income shares of capital and labour respectively
Background 2 : Brief Introduction to the two jewels of East Asia
Hong Kong and Singapore are similar in many ways .
To begin with the similarities: In the prewar era, both economies were British colonies that served as
entrepot trading ports, with little domestic manufacturing activity. Hong Kong processed trade
between Mainland China and the rest of the world, and Singapore served as a conduit for world
trade with Malaya and Indonesia.
In the postwar era, however, both economies developed large export-dependent domestic
manufacturing sectors. Both economies have passed through a similar set of industries, moving from
textiles, to clothing, to plastics, to electronics, and then, in the 1980s, gradually moving from
manufacturing into banking and financial services. Gross domestic product (GDP) per capita in the
two economies was quite close in 1960, and they have subsequently grown at the same remarkable
rate.
From the political economy perspective, one can note that both economies inherited a fairly
efficient and rational administrative structure. The postwar population of both was composed
primarily of immigrant Chinese from Southern China. Both economies are really small cities, with no
significant agricultural interests, economic or political. Along many dimensions of interest to growth
theorists, the two economies are, however, conveniently dissimilar.
The role of government
While the Hong Kong government has emphasized a policy of laissez faire and state intervention is
primarily on infrastructure development , the Singaporean government has, since the early 1960s,
pursued the accumulation of physical capital via forced national saving and the solicitation of a
veritable deluge of foreign investment.
[Adapted from Young, Alywn, “A Tale of Two Cities: Factor Accumulation and Technical Change in Hong Kong
and Singapore, January 1992 ]
Abstract 1: Grappling with productivity challenge over the decades, April 24, 2016, ...
Trade Liberalization and Economic Growth in China Since 1980iosrjce
The aim of this study is to explore the causality relationship between the foreign trade and economic
growth of Chinese economy using time series data running from 1980 to 2013.Co integration, Granger
Causality analysis and Vector Error Correction Mechanism (VECM) has been used in order to test the
hypotheses about the presence of causality and co integration between the two variables. The co integration test
confirmed that foreign trade and GDP are co integrated, indicating an existence of long run equilibrium
relationship between the two as confirmed by the Johansen co integration test results. The Granger causality
test finally confirmed the presence of bi-directional causality.
Government Expenditure and Economic Growth Nexus: Empirical Evidence from Nig...iosrjce
This study has examined the impact of public expenditure on economic growth in Nigeria using time
series data for the period 1970-2012. Secondary data were sourced from the CBN, NBS, journals, text books
etc. The adopted model was fitted with three variables: real GDP, capital and recurrent expenditure. The tools
of analysis were the ADF unit root test and ordinary least square multiple regression accompanied by pairwise
Granger causality test. The major objective of this study is to analyse the impact as well as direction of
causality between the fiscal variables and economic growth. All the variables included in the model are
stationary at level. Empirical findings from the study show that there is positive and insignificant relationship
between capital expenditure and economic growth while recurrent expenditure had a significant positive impact
on economic growth. Also, Granger causality test demonstrates a unidirectional causality running from the
fiscal variables to economic growth in validation of the Keynesian theory. Consequently, the study
recommended more allocation of resources for recurrent purposes as well; government should establish the
body that will monitor contract awarding process of capital projects closely, to guard against over estimation of
project cost and stealing of public funds.
Analysis of Public Investment Expenditure on Economic Growth in WAEMU Countriesinventionjournals
: Public investment expenditure plays an important role in the economy to produce goods and services needed for economic development. This study analyzes the influence of public investment spending on the economic growth of the WAEMU zone. The study considers a linear approach through individual fixed effects models with Beck-Katz and Driscoll-Kraay corrections, the spatial autocorrelation model (SAC) and the longterm model (DOLS). The empirical results of the study using panel data covering the period 1990-2015 indicate that public investment spending can promote economic growth in WAEMU countries when they are allocated in decreasing order to Education, health, public investment in basic road infrastructure and agriculture. However, they are also likely to slow it down when they focus on military spending, even though their primary objective is to ensure security for economic development. Finally, the study recommends that policy makers in WAEMU countries refocus their public expenditure policies in key sectors of development, notably human capital, in order to ensure a multiplier effect of public spending on economic growth and strengthen institutions Democracy to ensure their independence through their interdependence
Similar to An Empirical Study of the Impacts of Industry Agglomeration, Population Aggregation and Economic Growth on Japanese Prime Metropolitan Area (20)
The purpose of this study is to analyze empirically by using secondary data on the possibility of corporate fraud by using various fraud theory approach. The research model in this study was tested using the ordinary least square (OLS) analysis method. A total of 310 company data were collected which consisted of financial data and other supporting data published by companies listed on the Indonesia Stock Exchange in the range of 2012 to 2017. This study provides empirical evidence that all the variant of fraud theory (fraud triangle theory, fraud diamond theory and fraud pentagon theory) can be investigated for its significant effect on corporate fraud by only using secondary data that are available and freely accessed by the public. The empirically tested research model in this study can provide a comprehensive understanding of practitioners, academics, government agencies and the general public in analyzing the topic of corporate fraud.
Traditional markets in Indonesia were created so that people from all walks of life can fulfill their needs, especially staple food products, without having to spend a lot of money. However, the prices of food products in different markets vary depending on the consumers of the particular market. The aims of this article were to compare the price difference of staple food products in several traditional markets and to find out the factors that cause the price difference. The data were collected by carrying out a survey to five traditional markets around Jakarta regarding the prices of ten staple food products. The data were analyzed quantitatively using statistical calculation ANOVA from SPSS version 22, and also qualitatively to discuss several factors underlying the price differences. Results revealed that price differences of staple food products were not only caused by market location, but other factors such as pricing strategy and consumer specification. This research implied that traditional markets were still chosen by Indonesian consumers to fulfill their needs because of the competitive price.
Airport enterprise innovation performance is a crucial issue that planners, decision makers and managers should focus in order to drive the airport enterprise performance towards sustainable development. The strategic infrastructure needs, and investments need to include improvements across all major factors that affect the innovation dimension of sustainable development.
Key objective of the paper is to highlight the challenges in airport enterprise management towards sustainable development in terms of innovation improvement. A performance evaluation towards innovation and sustainable development framework is adopted and a case study application highlights the crucial role of airport enterprise management performance innovation dimension towards sustainable development. Conventional wisdom is to stimulate the interest on topic and promote a framework addressing to evaluate airport enterprise management performance towards innovation and sustainable development.
In the business world, companies need high performance. Performance is the result or overall success rate of a person over a period of time in carrying out tasks compared to various possibilities, such as predetermined standards of work, targets, or criteria. The purpose of the study was to analyze the influence of intellectual intelligence, emotional intelligence, and spiritual intelligence on employee performance. The population in this study were 63 employees of PT PLN (Persero). This study uses quantitative associative, with data analysis used is multiple linear regression analysis. The results showed that both intellectual intelligence, emotional intelligence, and spiritual intelligence had a positive and significant effect on employee performance. Intellectual intelligence has the greatest influence on employee performance, followed by spiritual intelligence and emotional intelligence. Intellectual intelligence, emotional intelligence and spiritual intelligence together have an effect of 52.4% on employee performance, and the remaining 47.6% is influenced by other factors not explained in this study.
The main purpose of the research study is to analyze the effect of organizational commitment, job satisfaction and work insecurity as well as their impact on the performance of Bank Aceh Syariah. The samples of the research are 209 employees which are selected with survey methods. Data was collected by using questionnaire, and then the data was analyzed with statistical methods of structural equation model (SEM). The study found that the organizational commitment and job satisfaction have a negative effect on turnover intention, but positive effect on the performance of Bank Aceh Syariah. The work insecurity has a positive effect on turnover intention, but negatif effect on the performance of the bank.
This study aims to test the effect of employee engagement and organization trust on organization citizenship behaviour and its impact on organization Effectiveness. The object of this research is the government organization of Pidie Jaya with Echelon IV Officers as a respondent. The number of sample is determined by using proportional sampling technique and Slovin equation, and it provides 171 respondents. Data is analyzed using the path analysis with the SPSS program assistance. The findings describes that employee engagement, organization trust, organization citizenship behaviour and organization Effectiveness have been going well. For the verification test of direct effect provides: employee engagement effects organization citizenship behaviour; organization trust effects organization citizenship behaviour significantly; employee engagement effects organization Effectiveness significantly; organization trust effects organization effectiveness significantly, and; organization citizenship behaviour effects organization Effectiveness significantly. These all findings prove that the previous theories are still applicable, and these also apply in Government organization of Pidie Jaya District. The originality of this research is in its novelty in term of the object, time, and statistic approach. This result contributes to academic and research area in order to develop the next model and method. For the practical, this has verified that the variables in this research need more attention from the managers especially in organization related.
This paper is an analysis on the impact machine learning, Artificial Intelligence, and robotics has on the supply chain management. The analysis covers the basis of AI in the SCM mechanisms while defining it from the ground up. Later on, to shed a true light on supply first the paper zooms in on the effects of machines in marketing. From what particular methodologies are deployed in today’s environment extending all the way to its anticipated outcomes. As the reader progresses he/she will find valuable studies on the main segments of machine learning within the supply chain itself. Certain novelties and innovations are scrutinized regarding SCM alongside these studies. These innovations are exemplified by certain cases presented in Part 3. The penultimate section briefly examines the possible drawbacks of the surge in machine application in SCM. The final section compiles the ideas presented in the paper as a whole and gives a glimpse of an estimate for the near future.
Huang (2018) decomposes the differences in quantile portfolio returns using distribution regression. The main issue of using distribution regression is that the decomposition results are path dependent. In this paper, we are able to obtain path independent decomposition results by combining the Oaxaca-Blinder decomposition and the recentered influence function regression method. We show that aggregate composition effects are all positive across quantiles and the market factor is the most significant factor which has detailed composition effect monotonically decreasing with quantiles. The main decomposition results are consistent with Huang (2018)
In Kenya, the newly promulgated constitution of 2010 (CoK, 2010), provides the basis of monitoring and evaluation as an important tool for operationalizing National and County Government projects to ensure projects success, integrity, transparency and accountability. The county governments are responsible for delivering basic services in collaboration with other agencies and partners to enhance quality of life: however, the county government projects has been marred by lack of integrity, transparency, accountability and litany of other monitoring and evaluation weakness which has undermined the impacts and success of projects including Regional Economic Blocs. Lake Region Economic Bloc (LREB) which comprised of fourteen counties bordering Lake Victoria Basin is not sparred either. The study was conducted in six LREB Counties namely, Migori, Homabay, Kisumu, Siaya, Kakamega and Vihiga chosen in a random manner. This study specifically assessed the effectiveness of Monitoring and Evaluation methods on the Performance of County Governments Projects. The study was guided by the theory of change. The research was carried out using descriptive survey design which entails both qualitative and quantitative data collection procedures. The researcher used stratified random sampling techniques to draw a sample from the study population. The qualitative method focused on group discussion and in-depth interviews. The quantitative techniques employed questionnaires to 398 purposively selected subjects from the county projects. Data collection was from two main sources; primary and secondary. Secondary sources included relevant county documents, constitution, legislations, policy documents and reports among others. The Study employed questionnaires, Focus group discussion and Interview guide as its primary data collection method. Statistical Package for Social Science (SPSS) version 18.0 was used for analysis. Data was analyzed using descriptive and inferential statistics techniques and presented in tables and figures. The study findings indicated thatM&E methods, indicated by the coefficient of effectiveness (R2) which is also evidenced by F change 109.403>p-values (0.05). This implies that this variableis significant (since the p values<0.05) and therefore should be considered as part of effectiveness of M&E systems on the performance of County Governments projects. The study concludes that there are no effective and adequate projects monitoring and evaluation methods in place for County Government Projects, which can facilitate the achievement of desired projects performance and outcomes. The study recommends that the County Government should develop a clear M&E methods for each project with clear data collection, analysis, reporting and implementation methods. This Study recommends further research to be conducted in the other Regional County Economic Blocs.
Regardless of where the Igbo man is, within or without the Igbo regions, trust is one of the foremost vital tool in business dealings and negotiations. This study aims at revealing the kind of trust apparent, and unique to the Igbo-men in business, how the Igbo-men build trust in their business, the antecedents of trust building in Igbo land, and the impacts of those trust in business dealings and negotiation. Through the process of content data analysis, results were drawn from a percentage margin of answers and feedbacks generated from real life experiences and discussions from unstructured interview from selected Igbo-men across the five states of the south-east region of Nigeria, which shows that 70% percentage of the Igbos practice the affective based trust in business dealings and negotiations, while 18% percentage practice cognitive based trust, 7% engages in both affective and cognitive based trust, and the remaining 5% are undecided.
This study is directed to determine the role of government treasurer in state university in tax compliance. With the spirit of the state apparatus, especially the Civil Servant, in reporting the taxes, it is expected to become a continuously growing and infectious snowball to the taxpayers to report their taxes correctly, completely and clearly as well as to avoid administrative sanctions that are subject to such non-compliance. This study method used is qualitative, the source of this study is government treasurer. The use of this qualitative approach is based on the concept of natural setting, grounded theory, descriptive, more concerned with the process than the outcome, temporary design, and research results are negotiated and agreed upon. The results show that treasurers have a big role in tax compliance, but however, there are still many obstacles that must be faced in fulfilling their financial obligations. this research was conducted only in one state university, so that data that could be processed was very limited.
The corporate governance is a popular topic within two last decade, and the emerging economies are practicing &enhancing their performances. The review is conducted to assess the effectiveness of the corporate governance implications on firm’s performances. The study followed the deductive approach and the journal articles, and the reports have used the source of the review. As per the literature findings, the researcher developed a conceptual design for the case review. The independent variable is the corporate governance mechanism, and the dependent variable is organizations performances. Both independent and dependent variables comprise the different type of corporate governance practice and the different function of the organizational performances. The review found that all the types of corporate governance practices are influenced to the organizational performance and the better corporate governance mechanism can enhance all type of performances.
Innovative work behavior is likely to be an important need for the increasing performance of the hospital to provide the health public services. Theoretically and empirically, the behaviors be related to employee perception on management support, information technology and employee empowerment. The study aims to determine the effect of management supports and information technology on employee empowerment as well as their impact on the innovative work behaviors of the employee of dr. Zainoel Abidin District Hospital Banda Aceh. The study conducted of 302 employees of the hospital. The data collected by questionnaire and then the data is analyzed by statistical means of structural equation model (SEM). The study found that management support and information technology have a positive and significant effect on the employee empowerment and innovative work behavior. The employee empowerment mediates the effect of management supports and information technology on the innovative work behavior.
This research deals with an insight and analysis of the economy projectification in a smaller country, here represented by Croatia. The study was inspired by similar research conducted in Germany, Island and Norway and it is based on similar but partly adapted methodology. The objective of this study is to measure level of economy projectification in a smaller country, and to provide relevant data related for the level of project work. The random sample of 250 companies, from both public and private sectors, was selected across nine sectors of the economy. A stratified random sampling was drawn and interviews were conducted via telephone, so as on-line survey. While analysing collected data and considering the objectives of this paper, only basic statistical analyses were applied for calculating averages and mean values. This study confirmed that projectification trends and figures in a smaller country are similar to those in larger or developed countries. During the period of last five years, the projectification level of the Croatian economy was increased from 27% (in 2013.) to33% (in 2018.). The results show significant difference in projectification among the different sectors of economy, so as changes and trends over the recent time period.
This paper is designed to show how integrated process planning and cross employee planning can be a vital part to any business operation. It will also uncover how different integrated processes and employee relations will help a business to grow. Various topics ranging from enterprise resource planning, integrated planning in supply chains, the non-linear approach, innovation and digitalization coupled with cross training and empowerment, Human resources, and Manager Employee relations complement each other and could bring an organization together. Various thought processes and intellectual reasoning skills were instrumental in all consideration of this project. Many antiquated processes were changed over the years to update operations in the business world where conventional means were not effective. Integrating product planning and employee planning optimized operations both in the product and service industry and I will accent many of these optimizations. With recent technological advances and human relations tactics, project management and organization has been streamlined and works more productively than its predecessors. Regardless of the industry, integrated process planning, and cross employee planning could possible turn a dinosaur into a competitive part of the economy.
One of the problems in big cities are transportation.They solve this problem by providing mass transportation such bus or train. People use this facility to travel between surrounding cities or within the city. Jakarta recently has a new public transportation called TransJakarta which serving people travelingfrom nearby cities and in the city.In order to move or doing business between places people in Jakarta use TransJakarta This research aims to analyse ticket price, service quality and customer value toward customer satisfaction. We conducted a research by using questionnaires given to thepassangers and developed a model using a multiple regression to process the result from questionnaires. Samples were taken from The number of sample for this reseach was 130 customers taken from one bus stop which passengers traveled from BSD City to Grogol and Slipi. The results from partial testing showed that customer value andservice quality have effect on customer satisfaction while ticket price does not have effect on customer satisfaction.
This study aims to examine the mediating effect of Trust in the relationship between Perceived Website Quality (PWQual), eWOM, and Perceived Benefits on Consumer Attitudes Toward Online Shopping in Indonesia. The sample in this research are online shopping consumers in Indonesia there 118 respondents. The design research used a survey model purposive sampling method as a sampling technique. The data analyze in this research used Structural Equation Modeling (SEM) as an analysis technique with AMOS as analysis tools. This research shows that : Perceived Website Quality has a significant effect on Perceived Benefits and Trust, Perceived Benefits and Trust has a significant effect on Consumer Attitudes Toward Online Shopping, Perceived Website Quality has a significant effect on Consumer Attitudes Toward Online Shopping through Trust
Dairying is one of the livestock productions practiced almost all over Ethiopia, involving a vast number of small, medium, or large-sized, subsistence or market-oriented farms. However, the structure and performance of dairy sectors and its products marketing both for domestic consumption and for export is generally perceived poor in Ethiopia due to different challenges. These challenges vary across different production system to another and/or from one location to another. Among other challenges seasonality of production, spoilage (lack of milk collecting facilities), poor animal health and management, inadequate supply of quality feed, low productivity and genetics ,quality problem, weak vertical integration, absence processing plant, inadequate permanent trade routes and other facilities like feeds, water, holding grounds, lack or non-provision of transport, lack of access to land, ineffectiveness and inadequate infrastructural and institutional set-ups, prevalence of diseases, lack of credit and inadequate market information are dominant in Ethiopia. Therefore, market infrastructure facilities, producers cooperative, feed quality and quantity provision system need to be strengthen for effective dairy value chain development.
This research paper examines customer intention to reorder in respect to delivery service and product satisfaction. Our research model includes delivery service, satisfaction and reorder intention. Satisfaction in this research model work as mediating variable. A survey method was adopted to collect data, collected data were analysis using SPSS to see the correlation between variables. A significant relationship was found between delivery service and reorder intention as well as moderating role was also note with satisfaction and reorder intention.
This paper examines the impact of internet use on student performance. In this cross-sectional study, one hundred twenty survey responses were collected from plus two-level students from BirendranagarSurkhet. The respondents were selected from class 11 and 12 students randomly. Frequency of internet use, location of internet use, cooperation from teachers for internet learning and peer group influence on internet use for academic purpose has been analyzed with their academic performance.one sample t test was used to analyze the data. The finding concludes all these variables have positive impact if the student use internet for learning process. Similarly, the analysis shows that the student who used internet at home for learning purpose has found highest academic achievement.
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How to get verified on Coinbase Account?_.docxBuy bitget
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Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
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What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
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US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
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Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
An Empirical Study of the Impacts of Industry Agglomeration, Population Aggregation and Economic Growth on Japanese Prime Metropolitan Area
1. www.theijbmt.com 117|Page
The International Journal of Business Management and Technology, Volume 3 Issue 1 January - February 2019
ISSN: 2581-3889
Research Article Open Access
An Empirical Study of the Impacts of Industry
Agglomeration, Population Aggregation and Economic
Growth on Japanese Prime Metropolitan Area
Zhiqi Sun1
, Zhijun Liang 2*
,Huimin Wang 2
1 School of Management and Economics, Beijing Institute of Technology, Beijing, China 180001
2 School of Management and Economics, Harbin Institute of Technology (Shenzhen), Guangdong,518055, China
*Correspondence:LiangZJ924@163.com
Abstract: Based on the data of Japanese Prime metropolitan area from 1955 to 2013, this paper studies the effect of
industry agglomeration and population aggregation on economic growth in Tokyo metropolitan area. Through the
processing of the panel data, we find that the industry agglomeration in Japanese Prime metropolitan region has
apparently positive impacts on its economic growth, and also, population aggregation can positively effects its economic
growth. Following this paper is try to carry out research on Tokyo —the core city of Japanese Prime metropolitan area, to
study the influence of industry agglomeration on its economic growth. This paper thinks that in the process of the
development of the city group, due to resource constraints, the manufacturing output unit of land demand big industry
will gradually from the degree of economic development is relatively high in the whole city and the city to evacuate,
inside, labor resources are gradually to the regional flow of high GDP per capita output.
Keywords: Industry Agglomeration; Population Aggregation; Economic Growth
I. Introduction
As a field based on the theory of space economics and the theory of new growth, the relationship between industrial
agglomeration and economic growth has received much attention in the academic community. After the Second World
War, Japan began to rectify the development of the economy and actively promote the rise of manufacturing. Relying on
the rapid development of the manufacturing industry, Japan gradually eliminated the backward industrial and
agricultural industries, and realized the replacement of low-efficiency industries by high-efficiency industries in the
process of industrial upgrading. In order to further promote economic development, the Japanese government
introduced the “Capital Circle Rectification Program” in 1956 with the aim of constructing a “Capital Circle” with a
radius of 100 kilometers or less centered on Tokyo. After five times of rectification planning in the capital circle, Japan’s
Japanese Prime Minister’s Circle has gradually matured and its development experience has become more and more
useful.
II. literature review
For a long time, mainstream economists studying economic growth have not included spatial factors in general
equilibrium analysis. However, with the endogenous growth theory, knowledge spillovers have a positive effect on
economic growth, and Western economists represented by Krugman pointed out in their new economic geography that
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An Empirical Study of the Impacts of Industry Agglomeration, Population Aggregation and….
industrial agglomeration can promote knowledge and technology spillovers, economists A series of theoretical and
empirical studies on the relationship between industrial agglomeration and economic growth began. In 1996, Ciccone
and Hall pointed out that the relationship between the productivity and density of economic activities pointed out that
the increase in the employment density of non-agricultural industries in the United States would increase the labor
productivity of non-agricultural industries by 6 percentage points, which means that industrial agglomeration is
conducive to economic growth. In 2006, Brulhart and Mathys made similar experimental results based on European data,
and pointed out that the effects of industrial agglomeration will increase over time. However, there are other views on
the relationship between industrial agglomeration and economic growth. In 2008, Martinez-Galarraga et al. used the data
from 1860 to 1990 to study the situation in Spain, and proposed an “inverted U-shaped” curve between industrial
agglomeration and economic growth. Relationships, that is to say, industrial agglomeration can positively promote
economic growth and then counter-productive. Domestically, in 2010, Liu Jun and Xu Kangning used China's provincial
panel data to study the relationship between industrial clustering and economic growth and regional disparity. Research
shows that industrial agglomeration can significantly promote economic growth and is the cause of regional disparities,
and indicates China's industrial agglomeration effect is in the middle stage of the “inverted N-type” curve. In 2015, Zhou
Xiaoke, Xi Yanling and Ji Shengbao based on the panel data of 30 provinces and regions in China from 2001 to 2011.
Using the systematic GMM estimation method, it was found that the manufacturing aggregation and economic growth
showed an “inverted U” relationship at the national level.
Regarding the relationship between population concentration and economic growth, most scholars at home and
abroad use population as a proxy variable or study the relationship between economic agglomeration and economic
growth from the perspectives of population size, population structure, and population density, such as Bautisa and Hu.
Qi et al. In 2012, Zhou Qiren studied the intrinsic relationship between economic density and population density. The
results show that economic density is higher than population density and can attract a higher degree of population
concentration. However, some scholars have conducted direct research on the role of population agglomeration in
economic growth. For example, Xie Li and Zhu Guofan selected data from 36 countries in 1994 and 2004 to empirically
study the impact of population aggregation on economic growth. The existence of population density. In 2016, Gao Jian
and Wu Pei-lin empirically confirmed that the urban population size has an impact on economic growth through the
economic effects of aggregation based on the measurement model of urban economic growth. There is a clear “inverted
U-shaped” relationship between the two, and based on the calculated threshold value and The optimal urban population
size, the impact of urban population size on economic growth can be divided into four stages.
However, in all the current discussions on how industrial agglomeration and population concentration affect
economic growth, no scholars specifically target the Japanese Prime Minister Circle and its core city of Tokyo, so this
paper decided to collect relevant data empirical research in the formation of the Japanese Prime Minister Circle. And the
process of development, the role of manufacturing aggregation and population gathering in economic development.
III. Index selection and research hypothesis
Japan’s economic growth in the 1980s was called the Asian miracle, and at the same time the gap in economic
development between cities in Japan began to widen. In 1955, the GDP per capita between the cities of the Japanese Prime
Minister’s Circle was not very different. The highest one was Tokyo’s GDP per capita of 1.1 million yen, while the second
highest was 630,000 yen in Kanagawa. The lowest was only 370,000 in Yamanashi. JPY. Japan’s Prime Minister’s Circle,
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An Empirical Study of the Impacts of Industry Agglomeration, Population Aggregation and….
one of the seven counties, is relatively high except for Tokyo, and the gap between the other seven counties is not
obvious. In 2013, Tokyo’s per capita GDP exceeded 8 million yen, and the gap with other counties in Tokyo is expanding.
In order to intuitively understand the economic development of the cities in the Japanese Prime Minister's Circle, based
on the constant price in 2000, this paper calculates the per capita GDP of the cities in the Japanese Prime Minister's Circle
from 1955 to 2013. And draw a trend chart of the per capita GDP of a county in the county (Figure 1).
Figure 1 Changes in per capita GDP of the Japanese Prime Minister’s Circle
Differences in regional economic growth are also accompanied by differences in population aggregation and
industrial agglomeration. Therefore, there is a significant difference in the degree of population aggregation and
manufacturing aggregation between the Japanese Prime Minister's Circle cities. In order to accurately reflect the
differences in population aggregation, we use population density as a measure of the population concentration of each
region.
Economic growth (PGDP): The level of economic development can generally be measured by the gross domestic
product or per capita GDP of a region. Due to the large differences in the regional area and population size of each city in
the Japanese Prime Minister's Circle, in order to make the results more meaningful, this paper uses per capita GDP
(PGDP) as a measure of economic growth.
Population Concentration (POPJ): To exclude the impact of regional area and better reflect the degree of
population aggregation, we use the population density indicator to measure the population concentration of each region
(Jiang Manqi, Xi Qiangmin, 2015; Li Futian, Tang song2005; Lei Dingan, Jin Ping, 2003). The expression of POPJ for
population aggregation in each region is:
iijij AreaPOPPOPJ
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An Empirical Study of the Impacts of Industry Agglomeration, Population Aggregation and….
Among them, POPij is the population representing the i-year (time) in the i-zone, and Areai represents the area of
the i-area (the change in area is small, and the area in the text is uniformly used in the area announced by each city in
2000). It can be known from the definition of calculation that the larger the value, the more the population per unit area,
indicating that the population is more concentrated. The calculation of the population concentration of the Japanese
Prime Minister’s Circle from 1955 to 2013 (see Figure 2) shows that the population of Tokyo is highly concentrated,
followed by Kanagawa, Chiba and Saitama, but the difference is large; The degree of aggregation is not high, and the
change is relatively stable.
Manufacturing Aggregation (AGGLO): The degree of manufacturing agglomeration in this paper is measured
by the location quotient of the manufacturing sector. The location quotient calculation was first proposed by P. Haggett
and applied to the location analysis (Wang Yaode, Yi Kui, 2015), originally used to reflect the specific industry sector in a
certain region relative to the professional sector of the country. The level of technology can be found in the industrial
sectors with advantages in this region (Xiao Zelei, Li Bangyi and Hu Canwei, 2010). The location quotient can also be
used to measure the degree of regional industrial agglomeration. If an industrial location quotient is less than 1, the
degree of industrial agglomeration is equivalent to the average of a larger area, and there is a possibility of a lower
industrial cluster; if the location quotient is greater than 1, The industry is concentrated in a specific area (Liu Wenhua,
Huang Xin, 2015), and the competitive advantage is more obvious (Mei Lei, Wang Bao and Cui Linying, 2016); if the
location quotient is greater than 2, the industry is highly concentrated in the area. There is a large possibility of industrial
clusters (Wang Shixuan, Sun Hui and Zhu Qiaoqiao, 2016).
In the same way, in order to accurately reflect the difference in manufacturing aggregation, we use manufacturing
location quotients as a measure. In this paper, the expression of the manufacturing aggregate AGGLOij of the j period
(year) in the i region is:
)()( jjijijij TPtpAGGLO
Among them, pij represents the output value of the manufacturing industry in the i-year, tij represents the total
output value of the industry in the i-year, and Pj represents the manufacturing value of the whole year in Japan, and Tj
represents the total output value of the industry in Japan. From the point of view of calculation, the essence of the
manufacturing aggregation index is that the output value of the manufacturing industry in each region accounts for the
ratio of the output value of the whole industry and the output value of the national manufacturing industry to the
national industrial output value. By definition, the larger the aggregate index indicator value, the higher the
manufacturing concentration. The paper calculates the Japanese Prime Minister's Circle Manufacturing Concentration
Index from 1955 to 2013 (see Figure 3). As can be seen from the figure, the manufacturing location of Tokyo and
Kanagawa is generally declining, but Kanagawa was relatively stable in the 1950s and 1980s, and began to decline after
the 1980s, while Tokyo The 1950s have been a trend of declining volatility. The manufacturing location of Saitama and
Chiba is relatively volatile, with no obvious downward trend. Other manufacturing locations in Ibaraki, Gunma and
Tochigi and Yamanashi are on the rise, and the relatively stable state in the end indicates that the concentration of
manufacturing is increasing.
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An Empirical Study of the Impacts of Industry Agglomeration, Population Aggregation and….
Figure 2 Changes in population density in the Japanese Prime Minister’s Circle
Figure 3 Japan's Prime Minister's Circle Manufacturing Industry Changes
Based on the observation and preliminary judgment of the above three figures, the following three research
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hypotheses are proposed.
Hypothesis 1: For the Japanese Prime Minister’s Circle, manufacturing aggregation has a positive correlation with
the economic growth of the Japanese Prime Minister’s Circle.
Hypothesis 2: For the Japanese Prime Minister's Circle, population concentration has a positive correlation with the
economic growth of the Japanese Prime Minister's Circle.
Hypothesis 3: For the core city of Tokyo, the increase in manufacturing concentration may bring “inverted U”
growth to Tokyo's economic growth.
In order to explore whether the relevant hypothesis is true, this paper will establish an econometric model for
empirical testing.
The definitions of the relevant indicator variables in this paper are summarized in Table 1.
Table 1 Describes of indicator variable definition
Variable Name Symbol Variable Description Data Source
Per capita GDP PGDP Calculated in 2000 as a constant price, Japan
Statistics
Bureau
Population density POPJ Population/area
Industrial agglomeration AGGLO Location entropy
IV. Model construction and inspection
(1)Model construction
In order to study the effects of industrial agglomeration and population aggregation on its economic growth, this
paper constructs the following expression of the measurement function:
iii POPJAGGLOAY ** (1)
Where Y represents the economic output of each region, AGGLOi represents the industrial clusters in each region,
POPJi represents the population concentration in each region, and α and β represent their associated output elasticity.
Since the index of industrial aggregation is calculated as a relative value, the range of values is small. To exclude the
influence of heteroscedasticity, this paper adjusts the original measurement expression to PGDPi and POPJi and
logarithm. Get the new model as follows:
iii LnPOPJAGGLOCLnPGDP (2)
(2)An Empirical Study of the Japanese Prime Minister's Circle
① Variable correlation analysis
Descriptive statistical analysis of variable data is the basic premise of quantitative analysis. The specific results of the
statistical analysis of the variables in this paper are shown in Table 2.
Table 2 Describes the basic situation variables
Variable observation sample Mean Variance Minimum Maximum
LnPGDP 472 14.649 0.722 12.842 15.971
LnPOPJ 472 6.615 1.140 5.138 8.713
AGGLO 472 1.097 0.344 0.340 1.851
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Correlation coefficients were analyzed for the relevant variables. The results are shown in Table 3. The correlation
coefficients of the variables were all below 0.5, indicating that the variables had no obvious collinearity. The mean
variance expansion factor (VIF) values of the model are all less than 3, which is within a reasonable range, so there is no
serious multi-collinearity problem between the explanatory variables, and the conclusion will not be seriously deviated.
Table 3 Correlation Analysis of variables
LnPGDP LnPOPJ AGGLO
LnPGDP 1
LnPOPJ 0.3719 1
AGGLO 0.3531 -0.1885 1
②Panel data correlation test
The panel unit root test is performed on the variables, and the regression analysis is performed using the unstable
data. It is easy to have a "pseudo-regression" problem, resulting in serious deviations in the results. Therefore, the
stability test of the variables is performed before the panel data regression.Commonly used inspection standards are
LLC(Levin-Lin-Chu)and IPS(Im-pesaran -Shin).The two methods are different. The combination of the two methods can
effectively eliminate the error in the single test. The test results of the unit root are shown in Table 4.
Table 4 Variables panel unit root test
Parameter LLC (P value) IPS (P value)
LnPGDP 0.0021 stable 0.9347 unstable
LnPOPJ 0.0000 stable 1.0000 unstable
AGGLO 0.0309 stable 0.6112 unstable
After the LLC and IPS unit root test, there is a unit root. Therefore, the first-order difference is made to the variable
and the first-order unit root test is performed. The results are shown in Table 5.
Table 5 Unit root test of variable first-order difference
Parameter LLC(P value) IPM(P value)
DLnPGDP 0.0000 stable 0.0000 unstable
DLnPOPJ 0.0000 stable 0.0000 unstable
DAGGLO 0.0000 stable 0.0000 unstable
As can be seen from Table 5, the conclusion of the LLC test and the IPS test is that the first-order difference of all
variables is a stationary sequence. Since the original data of the variable has a unit root but the same order is stable, there
may be a cointegration relationship, and panel cointegration analysis can be performed.
In order to test whether the economic growth of Japan's Prime Minister's Circle and the industrial agglomeration and
population concentration have a long-term equilibrium and stability relationship, the Johansen panel cointegration test is
carried out on the data. This paper conducts cointegration test on the Japanese Prime Minister's circle panel data through
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An Empirical Study of the Impacts of Industry Agglomeration, Population Aggregation and….
Eviews8.0. The results are shown in Table 6.
Table 6 Johansen panel cointegration test
Null hypothesis Trace test Max-eigen test
None 126.9*** 64.44***
At most 1 46.53*** 51.84***
At most 2 42.49*** 42.49***
(* means 10% level is significant, ** means 5% level is significant, *** means 1% level is significant)
It can be seen from Table 6 that in the Johansen panel cointegration test of each variable, the null hypothesis that
there is no cointegration relationship is rejected under the condition of "At most 2". Therefore, it can be concluded that
there is a cointegration relationship between economic growth and industrial agglomeration and population aggregation.
In addition, the cointegration test shows that in the long run, there is a stable relationship between economic growth
and industrial agglomeration and population aggregation, but it does not mean that there is a causal relationship, and the
direction is uncertain, so further Granger test is needed. In this paper, Panel Granger causality test was performed using
Dumitrescu Hurlin of the software Eviews 8.0. The results are shown in Table 7.
Table 7 Dumitrescu Hurlin Granger causality between variables
Null hypothesis W Zbar P Result
LnPOPJ is not the Granger
reason for LnPGDP
4.4938 3.1536 0.0016
LnPOPJ is the Granger reason
for LnPGDP
LnPGDP is not the Granger
reason for LnPOPJ
13.7431 15.2375 0.0000
LnPGDP is the Granger reason
for LnPOPJ
LnPGDP is not the Granger
reason for AGGLO
9.9544 10.2876 0.0000
LnPGDP is the Granger reason
for AGGLO
AGGLO is not the Granger
reason for LnPGDP
2.7740 0.9066 0.3646
AGGLO is the Granger reason
for LnPGDP
AGGLO is not the Granger
reason for LnPOPJ
3.9193 2.4030 0.0163
AGGLO is the Granger reason
for LnPOPJ
LnPOPJ is not the Granger
reason for AGGLO
8.3210 8.1538 0.0000
LnPOPJ is the Granger reason
for AGGLO
Table 7 lists Granger causality tests for economic growth and industrial agglomeration, economic growth and
population aggregation, and population aggregation and industrial agglomeration. The results show that LnPOPJ and
LnPGDP are Granger causes; LnPGDP is the Granger cause of AGGLO, and AGGLO is not the Granger cause of
LnPGDP. It shows that economic growth will lead to industrial concentration and population concentration, and
population concentration is also conducive to promoting economic growth. This test result is in line with the actual
economic significance.
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③Model estimation
In the panel data measurement model, it is necessary to test the validity of the model. Firstly, the F test is used to
judge whether the hybrid model or the fixed model should be used. Then, the LM test is used to judge whether the hybrid
model or the random effect model is selected, and finally the Hausman test is used to judge Use a fixed effect model or a
random effects model. After the processing of STATA 14.0 metrology software, the relevant estimation results are shown
in Table 8.
Table 8 Panel data regression results
OLS FE RE
C 11.735*** 1.125*** 5.563***
(58.45) (2.70) (13.38)
AGGLO 0.920*** 1.090*** 1.242***
(11.35) (19.69) (18.19)
LnPOPJ 0.288*** 1.864*** 1.167***
(11.76) (28.92) (19.01)
F value 112.39(P=0.0000) 788.68(P=0.0000)
Wald value 809.47(0.0000)
R-sq 0.324 0.774 0.733
LM test 952.6(P=0.0000)
Hausman test 1229.33(P=0.0000)(V_b-V_B is non-positive)
(* means 10% level is significant, ** means 5% level is significant, *** means 1% level is significant,T or z values in
parentheses)
In the models of economic growth, industrial agglomeration and population aggregation, the F-test from mixed
regression and fixed-effect regression shows that the F value is 112.39, the corresponding P value is 0.0000, and the P
value is less than 0.01, so the null hypothesis is strongly rejected (panel hybrid regression) Model), the fixed individual
effect is considered to be significantly better than the mixed regression. From the LM test of mixed regression and
random effect regression, the LM value is 952.6, the corresponding P value is 0.0000, and the P value is less than 0.01.
Therefore, the null hypothesis (panel hybrid regression model) is strongly accepted, and the random effect is considered
to be significantly better than the mixed regression. The hausman test statistic is 1229.33, the P value is 0.0000, and the P
value is less than 0.01. The null hypothesis is rejected (the random effect is better than the fixed effect), and the fixed effect
model (FE) should be used. Among the results of the hausman test, there is a case where "V_b-V_B is not positive". The
research by scholars Schreiber and Magazzini, L&G. Calzolari pointed out that when "V_b-V_B is not positive", a fixed
effect model should be used.
As can be seen from Table 8, the hybrid model, the fixed effect model, and the random effects model are all
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significant in general, and the regression has economic significance. The main research variables of this paper, AGGLO
and POPJ, are in line with the expected economic significance in all three models, and the coefficients of AGGLO and
POPJ are both significantly positive. It shows that the accumulation of manufacturing and population concentration are
beneficial to the economic growth of the Japanese Prime Minister's Circle.
(3)An empirical study of the core city of Tokyo
As the core city of the Japanese Prime Minister's Circle and the financial centers of Asia and the world, with the
continuous upgrading of the industrial structure, Tokyo has entered the service economy stage as early as the 1980s, and
how the research industry is concentrated in this process. Affecting the economic development of Tokyo is of great
significance for a more comprehensive analysis of the impact of industrial agglomeration on regional economic growth.
Therefore, this paper will conduct a separate regression analysis on the data of Tokyo.
In order to more clearly understand the impact of manufacturing aggregation, this paper builds the following two
models for verification, model expression:
TokyoTokyoTokyo LnPOPJAGGLOCLnPGDP
(3)
TokyoTokyoTokyoTokyo LnPOPJAGGLOAGGLOCLnPGDP 2
1
(4)
Among them, PGDPTokyo, AGGLOTokyo, and POPJTokyo represent the per capita GDP and manufacturing
concentration and population concentration of Tokyo. Expression (3) is mainly to verify the relationship between
manufacturing aggregation and economic growth. The expression (4) is mainly to verify whether the relationship
between manufacturing aggregation and economic growth conforms to the hypothesis of “reversing U”. According to the
estimation result of the expression (4), if α1 > 0, it conforms to the "U" type hypothesis; if α1 < 0, it conforms to the
"inverted U" type.
Since the relevant data in Tokyo is no longer panel data, the data is subjected to ordinary OLS regression. The
relevant results are shown in Table 9.
Table 9 OLS Estimation results of Tokyo
Equation expression(3) Equation expression(4)
C -12.641*** -9.287***
(-3.33) (-3.04)
AGGLO -1.507*** 4.046***
(-6.38) (4.21)
AGGLO2 — -4.255***
— (-5.9)
LnPOPJ 3.383*** 2.8***
(7.9) (7.94)
F value 213.68 239.96
R-sq 0.884 0.929
As can be seen from Table 9, it is found in the results of Expression (3) that the manufacturing clusters in Tokyo have
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a reverse effect on their economic growth. As can be seen from the results in Expression (4), manufacturing aggregation
and economic growth are in line with the "inverted U" type. It shows that the accumulation of manufacturing in the initial
stage is conducive to the economic growth of Tokyo, but with the development of the economy, the accumulation of
manufacturing industry will have a negative effect on economic growth in a certain period of time.
V. Conclusion and enlightenment
This paper uses the location aggregation and population density to measure the degree of manufacturing
aggregation and population aggregation. Using the Japanese Prime Minister's panel data from 1955 to 2013 to study the
role of manufacturing aggregation and population aggregation in its economic growth, and focus on the core of the
Japanese Prime Minister Circle. The impact of manufacturing clusters in the city of Tokyo on economic growth. The
following conclusions are drawn from the empirical results:
First, manufacturing aggregation and population concentration have a significant positive effect on the economic
growth of the Japanese Prime Minister's Circle. However, through a separate study of Tokyo, the impact of
manufacturing clusters on the economic growth of the core city of Tokyo is “inverted U” and Tokyo is currently in the
second half of the “inverted U” type. It has a negative effect on the economic growth of Tokyo. Combining with the
reality, this paper analyzes that the main reason is that the manufacturing industry belongs to the industry with relatively
large demand for land output, and with the economic development and the successful upgrading of the industrial
structure, it enters the service economy stage. The current unit land cost of Tokyo is high, and it has a strong crowding
out effect on industries with large demand for land output in such manufacturing units. It can be seen that in the process
of urban agglomeration development, due to the constraints of resources, industries with large demand for land output
in such industries will continue to withdraw from core cities with relatively high economic development.
In addition, population aggregation often means the existence of a large demand for labor resources. The results of
this study indicate that there is a positive relationship between population concentration and economic growth in the
Japanese Prime Minister's Circle. That is to say, on the one hand, population aggregation can promote the region.
Economic growth; on the other hand, economic growth will also cause population aggregation, and labor resources will
flow to regions with high per capita GDP output.
Prospects for future research: Each city in the Japanese Prime Minister's Circle can be studied separately to observe
the direction of industry and population flow between different cities in the process of formation and development of the
metropolitan area. In addition, you can try to verify whether there is an “inverted U” relationship between population
aggregation and industrial growth.
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