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Trade Potential and Efficiency of the Countries Along the B&R: Based on Trade Diversification, Concentration and Complementarity
Issue:
Volume 7, Issue 2, June 2018
Pages:
44-51
Received:
30 March 2018
Accepted:
27 April 2018
Published:
18 May 2018
Abstract: The bilateral trade flow data in this paper is a collection of the 35 countries along "The Belt and Road" from 1995 to 2014. After getting the national trade efficiency and trade potential estimation, heterogeneous panel cointegration estimation methods (FMOLS and PDOLS) are used to analyze the influencing factors of trade efficiency and trade potential from three aspects: trade diversification, trade concentration and trade complementarity index. The lower the degree of trade diversification and the higher the degree of trade centralization are, the greater the potential of the country's trade is；the lower the degree of trade diversification and the higher the degree of trade centralization are, the more trade efficiency of the country is; for the bilateral trade volume, the higher the degree of trade complementarity between the two countries is, the greater the trade potential and trade efficiency between them is.
Abstract: The bilateral trade flow data in this paper is a collection of the 35 countries along "The Belt and Road" from 1995 to 2014. After getting the national trade efficiency and trade potential estimation, heterogeneous panel cointegration estimation methods (FMOLS and PDOLS) are used to analyze the influencing factors of trade efficiency and trade pote...
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Human Capital Development and Economic Growth in Bangladesh
Md Niaz Murshed Chowdhury,
Mohammed Jashim Uddin,
Nezum Uddin,
Shamim Uddin
Issue:
Volume 7, Issue 2, June 2018
Pages:
52-63
Received:
20 January 2018
Accepted:
19 May 2018
Published:
11 June 2018
Abstract: Human Capital is an integral part of any country’s development and economic growth has human capital as an important factor. This study empirically evaluates the relevance of human capital development on the growth of the economy pin pointing the relationship that exists between them. In this study, unit root test, Johansson co integration test and ordinary least square (OLS) technique are done. The GDP per capita was used as a proxy for economic growth; Per Capital Gross Domestic Product, primary school enrolment, Secondary school enrollment, tertiary school enrollment, public expenditure on education and health, life expectancy, gross capital formation. From the analysis, it was deduced that there is a strong positive relationship between human capital development and economic growth. Life expectancy is found to be most important variable in this model as it has large impact on economic growth in Bangladesh. Recent time tertiary education has significantly affected the economic growth instead of secondary education. Workable policies should be put in place to bring about an overall economic growth. Expenditures on health and public education should be utilized effectively and efficiently so that the country would experience quality health care services and quality educational system.
Abstract: Human Capital is an integral part of any country’s development and economic growth has human capital as an important factor. This study empirically evaluates the relevance of human capital development on the growth of the economy pin pointing the relationship that exists between them. In this study, unit root test, Johansson co integration test and...
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Research on China’s PPP Financial Affordability Evaluation
Issue:
Volume 7, Issue 2, June 2018
Pages:
64-72
Received:
7 May 2018
Accepted:
4 June 2018
Published:
15 June 2018
Abstract: This paper studies the reasons that PPP may cause fiscal risk in provision of public services, and points out the necessity of expenditure-scale control in the application of PPP and the essence of financial affordability evaluation. Through analysis on the shortcomings in the current PPP financial affordability evaluation, it puts forward some issues such as the low reliability of China's financial affordability evaluation, lack of supervision on non-general public budgets and backward government accounting system. In addition, this paper proposals policy suggestions of enhancing the provincial-level financial department in the function at management and supervision in accordance with specific issues; of standardizing the government expenditure management; of fully establishing a comprehensive financial reporting system of accrual accounting system by government; and of advancing the legislative process, with a view to provision of reference for China’s PPP fiscal risk management.
Abstract: This paper studies the reasons that PPP may cause fiscal risk in provision of public services, and points out the necessity of expenditure-scale control in the application of PPP and the essence of financial affordability evaluation. Through analysis on the shortcomings in the current PPP financial affordability evaluation, it puts forward some iss...
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Empirical Analysis of Determinants of Human Capital Formation: Evidence from the Nigerian Data
Ubi-Abai Itoro Praise,
Chioma Chidinma George-Anokwuru
Issue:
Volume 7, Issue 2, June 2018
Pages:
73-81
Received:
7 June 2018
Accepted:
27 June 2018
Published:
23 July 2018
Abstract: The study examined the determinants of human capital formation with evidence from Nigeria. Specifically, the study sought to examine how these determinants affect human capital formation; and how they affect the growth of the Nigerian economy. The theoretical foundations of the study were the views of Adam Smith, Theodore Schultz, Gary Becker and Jacob Mincer on human capital. The data used in the study were expenditures on education, expenditures on health, total enrolments (primary, secondary, and tertiary), mortality rate, life expectancy and GDP of Nigeria. The study used trend diagrams, tabular analysis and descriptive statistics to provide answers to the first question; and the second question was answered using the three-stage least squares (3SLS) econometric technique. It was discovered that bi-directional positive and significant relationships existed between health expenditures and economic growth. Mortality rate had a positive relationship with expenditures on health. Also, bi-directional negative and significant relationships existed between education expenditures and economic growth, even when there were increased expenditures on education over the years. Total enrolments positively affected education expenditures. It was concluded that expenditures on education had not been sufficient in revitalizing the education sector. This has resulted to negative consequences in determining effective and efficient human capital formation in the economy. It was recommended that expenditures on health should be increased to ensure positive contributions to human capital formation; and government should focus on revitalizing the education sector, through effective and transparent spending, so as to have positive effects on human capital formation and the economy.
Abstract: The study examined the determinants of human capital formation with evidence from Nigeria. Specifically, the study sought to examine how these determinants affect human capital formation; and how they affect the growth of the Nigerian economy. The theoretical foundations of the study were the views of Adam Smith, Theodore Schultz, Gary Becker and J...
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Research on the Causes and Responsive Measures of China’s Fiscal Expenditure Solidification
Issue:
Volume 7, Issue 2, June 2018
Pages:
82-91
Received:
4 August 2018
Accepted:
23 August 2018
Published:
28 September 2018
Abstract: The budget enforcement, as an important indicator for measuring the collection and use of fiscal funds, plays an essential role in the promotion of Chinese reform. However, in recent years, Chinese fiscal expenditure has shown the tendency of solidification, which slows budget implementation progress, makes a large amount of financial funds can’t be efficiently paid, and sharpens the contradiction between the coexistence of “shortage” and “precipitation” of funds. That is to say, in the practice of China’s budgetary expenditure, the expenditure solidification directly constrains the implementation effect of budget expenditure, making the expenditure cannot be effectively paid. Therefore, this paper starts from the existing problems in the fiscal expenditure, systematically analyzes the historical basis and current situation of China's fiscal expenditure solidification. Through the analysis, it can be found the recent fiscal expenditure shows the convergence trend. That is to say in the context of increasing economic pressure, China’s fiscal expenditure show a uptrend situation, instead of decreasing in response to the declined fiscal revenue. Moreover, in China, no matter in central government or local governments, the scale and structure of education, medical, health care and other expenses have shown the convergence trend. The phenomenon is called China’s fiscal expenditure solidification, and the reason for this phenomenon include the inertia of legally mandated expenditure, the flaws in transfer payments system, the unscientific and unstandardized budget management process, and the contradiction between policy and system arrangement and practice. And in order to solve the problem, it should be started from the top-level design, completing the relevant measures and strengthening modern budget management.
Abstract: The budget enforcement, as an important indicator for measuring the collection and use of fiscal funds, plays an essential role in the promotion of Chinese reform. However, in recent years, Chinese fiscal expenditure has shown the tendency of solidification, which slows budget implementation progress, makes a large amount of financial funds can’t b...
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