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Financing Inclusive Development Through Aid and FDI: The Empirical Case of WAMZ
Issue:
Volume 5, Issue 5, October 2016
Pages:
43-58
Received:
17 July 2016
Accepted:
9 August 2016
Published:
7 September 2016
DOI:
10.11648/j.jwer.20160505.11
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Abstract: West African countries are caught in a structural Poverty trap due to severe underdevelopment of their productive forces, compounded by an unfavorable international environment and lack of genuine commitment on the part of affluent countries to assist them. Despite rising income among these countries, inequality and poverty incidence seems to be rising. Of course, they could be greatly assisted through effective international actions. This paper investigates the contributions of FDI and aid in accelerating the development of WAMZ member countries. The paper relies on both the Fixed Effect and Dynamic Arellano-Bond GMM Panel Data regression frameworks to show that aid contributes powerfully to both human development and economic growth while FDI, at best, has no effect on economic growth and actually slows the rate of human development in WAMZ. The higher the level of human capital in a country, the more aid contributes to growth and development. On the basis of our findings, WAMZ require aid for inclusive development but not necessarily FDI.
Abstract: West African countries are caught in a structural Poverty trap due to severe underdevelopment of their productive forces, compounded by an unfavorable international environment and lack of genuine commitment on the part of affluent countries to assist them. Despite rising income among these countries, inequality and poverty incidence seems to be ri...
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Female Employment: A Way to National Wellbeing
Towfika Sultana,
Iftekhar Uddin Ahmed Chowdhury
Issue:
Volume 5, Issue 5, October 2016
Pages:
59-64
Received:
22 August 2016
Accepted:
19 September 2016
Published:
28 September 2016
DOI:
10.11648/j.jwer.20160505.12
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Abstract: ‘Gender equality’ is a term which can be found almost in each and every sector of our modern lives. Female labor force participation is one of the most integral parts of development which should be brought into the limelight so that policymakers take the necessary actions to improve women’s situation all over the world. Increasing participation of female population contributes immensely in a nation’s development process. To explore more about this contribution, the paper aims to study the impact of female labor force participation rate on the overall national wellbeing of a country. To achieve this objective, World Bank databank is used as pioneer data source and panel econometric models are estimated for a sample of 58 countries over a 10 year period (2004-2013). In addition, this paper uses a dynamic model as an extension of the analysis to establish whether such an effect exists or not. While the results show the evidence of robust and significant pull effects, that is the positive impact on the national wellbeing of the female labor force participation rate in the host country. The paper also provides some policy recommendations in order to enhance the active participation of female labor force in the economy.
Abstract: ‘Gender equality’ is a term which can be found almost in each and every sector of our modern lives. Female labor force participation is one of the most integral parts of development which should be brought into the limelight so that policymakers take the necessary actions to improve women’s situation all over the world. Increasing participation of ...
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The Relationship Between Inflation and Economic Growth: A Further Evidence
Issue:
Volume 5, Issue 5, October 2016
Pages:
65-71
Received:
6 September 2016
Accepted:
18 September 2016
Published:
9 October 2016
DOI:
10.11648/j.jwer.20160505.13
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Abstract: This paper focuses on exploring the relationship between inflation and economic growth in Saudi Arabia. The real growth of non-oil measure is used as a dependent variable, whereas wholesale price is implemented as a proxy for inflation. This study covers the period of 1985-2015. The short and long-run relationships are estimated using co-integration techniques. The results support the existence of positive effects of inflation over economic growth. The threshold level of inflation for non-oil GDP is around a 10 percent. In addition, the long-run causality is running from inflation to real growth of non-oil GDP. The impulse responses test points out that future responsiveness of growth due to impulse of inflation is negative and significant after a year and a half. Whereas, the inflation responsiveness due to a shock in growth is effective positively after three years and a half in the future.
Abstract: This paper focuses on exploring the relationship between inflation and economic growth in Saudi Arabia. The real growth of non-oil measure is used as a dependent variable, whereas wholesale price is implemented as a proxy for inflation. This study covers the period of 1985-2015. The short and long-run relationships are estimated using co-integratio...
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The Measures Needed to Reshape Ghana’s Industrial Sector for the Country’s Economic Development
Dominic Anyan Twumasi,
Chen Xiangman
Issue:
Volume 5, Issue 5, October 2016
Pages:
72-76
Received:
2 November 2016
Published:
3 November 2016
DOI:
10.11648/j.jwer.20160505.14
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Abstract: Ghana, a West African country often prides herself as the country with abundant natural resources. However the country’s economy is yet to benefit from these resources. In the attempt to gain an understanding of the underlying reasons why this is so, the writer employs qualitative research methods by observing the performance of the country’s industrial sector. Particularly looking at the contributions that comes from the industrial sector to the country’s GDP annually. The writer finds that two major subsectors are contributing negatively to the country’s GDP whiles the country mostly records trade deficits. In view of this, the writer concludes that the country should employ advance technology in all areas of economic activities. There should also be good trade policies, promotion and acceptance of science, technology, vocational and technical education as well as an increase in the share of R&D expenditure in the country’s GDP expenditure annually.
Abstract: Ghana, a West African country often prides herself as the country with abundant natural resources. However the country’s economy is yet to benefit from these resources. In the attempt to gain an understanding of the underlying reasons why this is so, the writer employs qualitative research methods by observing the performance of the country’s indus...
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The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket
Issue:
Volume 5, Issue 5, October 2016
Pages:
77-82
Received:
4 November 2016
Published:
5 November 2016
DOI:
10.11648/j.jwer.20160505.15
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Abstract: With RMB climbing to the international stage gradually, China had been taking a series of policies in the process of promoting RMB inclusion into the SDR basket, which could devote to RMB Internationalization. On November 30th, 2015, IMF Board preclaimed to add RMB into SDR basket formally from October 1st, 2016, being the fifth currency except bound, Euro, yen and dollar, as the first emerging-market currency into SDR. This matter arouse many controversies and discussions about the influence and prospect of RMB inclusion in the SDR basket in academia. It is not only inevitable that the inclusion of RMB owed to the blossom of emerging market economics, but in line with the interest of International Monetary System Reform. This paper analyzes and collates some literature and views about the introduction of SDR, the development and reform of International Monetary System, prospect of RMB included into the SDR basket, our countermeasures and conclusion.
Abstract: With RMB climbing to the international stage gradually, China had been taking a series of policies in the process of promoting RMB inclusion into the SDR basket, which could devote to RMB Internationalization. On November 30th, 2015, IMF Board preclaimed to add RMB into SDR basket formally from October 1st, 2016, being the fifth currency except bou...
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The Characteristics Study of Element Marketization to Chinese Technology Progress
Institute of Datong Securities Asset Management,
Yongbao Ji
Issue:
Volume 5, Issue 5, October 2016
Pages:
83-90
Received:
9 December 2016
Published:
12 December 2016
DOI:
10.11648/j.jwer.20160505.16
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Abstract: The paper studys the mathematical model between element marketization and technology progress though Chinese provinces data. Empirical test showed that capital and labor element marketization promote Chinese technology progress significantly. Finally, threshold model showed the existence of threshold range that capital and labor element marketization promoting TFP (total factor productivity) growth. When the two crossed a certain threshold, effects of element marketization on Chinese technology progress had shown. Based on this, the article shows that achieving economic growth from the consumption of material resources to relying on technological progress needs to promote the elements market-oriented reforms.
Abstract: The paper studys the mathematical model between element marketization and technology progress though Chinese provinces data. Empirical test showed that capital and labor element marketization promote Chinese technology progress significantly. Finally, threshold model showed the existence of threshold range that capital and labor element marketizati...
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