Research in Economics最新文献

Bulkiness of goods and the gravity of international trade: Differential impact of trade barriers 货物的体积和国际贸易的引力：贸易壁垒的不同影响

IF 1.2

Research in Economics Pub Date : 2024-10-29 DOI: 10.1016/j.rie.2024.101013

Xuebing Yang

引用次数: 0

Oil Price and Long-run Economic Growth in Oil-importing Developing Countries 石油进口发展中国家的石油价格与长期经济增长

IF 1.2

Research in Economics Pub Date : 2024-10-15 DOI: 10.1016/j.rie.2024.101009

Samuel F. Gamtessa, Harminder Guliani

{"title":"Oil Price and Long-run Economic Growth in Oil-importing Developing Countries","authors":"Samuel F. Gamtessa, Harminder Guliani","doi":"10.1016/j.rie.2024.101009","DOIUrl":"10.1016/j.rie.2024.101009","url":null,"abstract":"<div><div>The recent spikes in oil prices are a significant setback for the world economy, which has already faced multiple challenges due to the COVID-19 pandemic. This is particularly concerning for developing countries as maintaining a sustained growth in real GDP is crucial for lifting their population out of poverty. While the short-run negative macroeconomic effects of a spike in oil prices are well established in the context of the developed world, the long-run growth effect has received little attention, especially in developing countries. Using the World Bank's development indicators database covering the period 1990 to 2020, this study aims to investigate the oil price-growth nexus in low and middle-income net oil-importing countries to shed light on how oil price increases could be a challenge for sustainable development. Specifically, we first set up a theoretical model to establish the relationship between growth in output per capita and oil price. Following the traditional growth regression approaches, we empirically estimate the causal effect of growth in oil prices on the economic growth of 65 net oil-importing developing countries using fixed effect panel IV regression methods. The empirical results confirm statistically significant negative effects of oil prices, indicating that a higher oil price reduces long-run economic growth in oil-importing developing countries. Our results on the other determinants of growth are consistent with the existing empirical growth literature. Oil-importing developing countries, therefore, must allocate resources towards alternative domestic energy sources, in addition to pursuing fuel efficiency and conservation strategies, to mitigate the negative effects of oil price fluctuations on their long-run economic output and uphold sustainable development.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"78 4","pages":"Article 101009"},"PeriodicalIF":1.2,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142445854","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Foreign aid and inequality: Do conflicts matter? 外国援助与不平等：冲突重要吗？

IF 1.2

Research in Economics Pub Date : 2024-10-11 DOI: 10.1016/j.rie.2024.101008

Martin Ambassa , Itchoko Motande Mondjeli Mwa Ndjokou , Pierre Christian Tsopmo

引用次数: 0

An inquiry into the causes of income differences among high-income countries 探究高收入国家之间收入差异的原因

IF 1.2

Research in Economics Pub Date : 2024-10-10 DOI: 10.1016/j.rie.2024.101006

Jayadevan CM, Nam Trung Hoang, Subba Reddy Yarram

引用次数: 0

The macroeconomic effects of productivity shocks: Predictions of conventional business cycle models are not always incompatible with SSA economies 生产力冲击对宏观经济的影响：传统商业周期模型的预测并非总是与撒哈拉以南非洲经济体不相容

IF 1.2

Research in Economics Pub Date : 2024-10-10 DOI: 10.1016/j.rie.2024.101012

Emmanuel Ameyaw

{"title":"The macroeconomic effects of productivity shocks: Predictions of conventional business cycle models are not always incompatible with SSA economies","authors":"Emmanuel Ameyaw","doi":"10.1016/j.rie.2024.101012","DOIUrl":"10.1016/j.rie.2024.101012","url":null,"abstract":"<div><div>Despite the increasing application of DSGE and RBC models to Sub-Saharan African (SSA) economies, questions persist about their alignment with empirical evidence for these economies. This study challenges claims of substantial incongruity with respect to the propagation of productivity shocks by demonstrating a close correspondence between empirical evidence for Ghana’s economy and predictions of the classical real business cycle model. Following a positive productivity shock, we observe a positive comovement among aggregate demand variables (i.e., consumption, investment, government spending, exports, and imports), aggregate supply variables (capital and labor), and money supply while the inflation rate and interest rate decline. Among these, we find the responses of output, consumption, government spending, and inflation rate to be statistically significant. These results contradict assertions of discordance between conventional business cycle models and SSA structural characteristics, at least for Ghana’s economy. The study is motivated by limited empirical evidence on how productivity shocks propagate through SSA economies, and for Ghana, there is no such study. On a secondary goal and by virtue of using a time-varying parameter VAR model, our results also suggest that Ghana’s long business cycle moderation from the mid-1980s to about 2010 was primarily due to a reduction in the volatility of shocks hitting the economy rather than changes in the structural relationship between macroeconomic variables.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"78 4","pages":"Article 101012"},"PeriodicalIF":1.2,"publicationDate":"2024-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142445853","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Consumption and the permanent income of households 家庭消费和永久收入

IF 1.2

Research in Economics Pub Date : 2024-10-09 DOI: 10.1016/j.rie.2024.101011

Roni Frish

引用次数: 0

Shareholder voting and efficient corporate decision-making 股东投票和高效的公司决策

IF 1.2

Research in Economics Pub Date : 2024-10-09 DOI: 10.1016/j.rie.2024.101010

Kyounghun Lee, Frederick Dongchuhl Oh

引用次数: 0

Linking the BOPC growth model with foreign debt dynamics to goods and labour markets: A BOP-IXSM-Okun model 将 BOPC 增长模型与商品和劳动力市场的外债动态联系起来：BOP-IXSM-Okun 模型

IF 1.2

Research in Economics Pub Date : 2024-10-05 DOI: 10.1016/j.rie.2024.101007

Thomas H.W. Ziesemer

{"title":"Linking the BOPC growth model with foreign debt dynamics to goods and labour markets: A BOP-IXSM-Okun model","authors":"Thomas H.W. Ziesemer","doi":"10.1016/j.rie.2024.101007","DOIUrl":"10.1016/j.rie.2024.101007","url":null,"abstract":"<div><div>We link a BOPC growth model to the goods market, foreign debt dynamics, and Okun's law. A new condition for getting the Thirlwall effect of world GDP growth on domestic growth is that investment and export shares of GDP should react less to an increase in the domestic growth rate than savings and import shares. If this condition holds, the Thirlwall effect is present for the equilibrium point of stable and unstable debt/GDP dynamics and for positive or negative reactions of the current account to domestic growth. Okun's law translates the effect on the domestic GDP growth rate to a change of the unemployment rate. Under unstable debt/GDP dynamics, the change of world GDP growth may turn around the direction of the debt/GDP dynamics, a second important foreign growth effect. Estimations support the specification of the theoretical model and lead to simulations of the Thirlwall effect, terms of trade and interest rate shocks on output growth. Profit maximizing bank consortia set interest rates below growth rates ensuring stable debt dynamics in the presence of an interior maximum. Conditions for an interior maximum are empirically violated for Brazil indicating that banks would have to change the economy strongly. A crisis can be less likely through a jump into a steady state for the debt/GDP ratio; unstable, increasing debt/GDP processes through high interest rates cannot be ruled out though and may lead to crises unless the empirics of the stability conditions gets more favourable and leads the country-bank model into a stable steady state or out of indebtedness.</div></div>","PeriodicalId":46094,"journal":{"name":"Research in Economics","volume":"78 4","pages":"Article 101007"},"PeriodicalIF":1.2,"publicationDate":"2024-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142424779","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Beyond banks: Navigating the shift to peer-to-peer lending for small enterprises 超越银行：引导小企业向点对点贷款转变

IF 1.2

Research in Economics Pub Date : 2024-09-20 DOI: 10.1016/j.rie.2024.101002

Alina Malkova , Alex Weng

引用次数: 0

Stronger Patent Regime, Innovation and Scientist Mobility 加强专利制度、创新和科学家流动性

IF 1.2

Research in Economics Pub Date : 2024-09-18 DOI: 10.1016/j.rie.2024.101004

Madhuparna Ganguly

引用次数: 0